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FTMO - For serious traders

  • #7,881
  • Aug 1, 2021 1:58am Aug 1, 2021 1:58am
Thanks for the reply, that suits me.
  • #7,882
  • Aug 6, 2021 10:39am Aug 6, 2021 10:39am
Hello Traders,

we’ve got a new Friday update on our hands and today, we’re looking at rather a shorter one.
Starting off with a very important announcement that should not be missed:

From Saturday, 07 Aug 2021, from 00:01 CEST to Sunday, 08 Aug 2021, 00:01 CEST, there is a scheduled email outage.
Emails sent during this period will not be delivered, therefore kindly use the LiveChat service or the Customer Support feature in your Client Area for all your inquiries.
The purpose of the outage is to strengthen the backend email infrastructure in order to ensure the system will be able to handle larger amounts of incoming mail in the future.

Let’s quickly move onto the platforms:
For the upcoming week, there are no scheduled maintenance breaks that would affect the trading hours of any instrument.
The previous weekend platform outages served their purpose as intended, both MetaTrader 4 & 5 and cTrader as well remain firmly stable and we expect fewer and fewer weekend maintenance breaks in the future.

Finally, I’d like to introduce another feature that will help us connect with our traders more closely & comfortably.
From now on, it is possible to reach FTMO through WhatsApp. The number has been activated today, all the details can be found on our contact page.

Usually, now would be the time to respond to your question. However, as everything seems to be crystal clear and Ginev49abv’s question has already been answered by NtraderBM, we will skip this part for today.

That's all for today, thank you for tuning in & I'll be looking forward to the next Friday.

Cheers, Vitek
  • #7,883
  • Edited 3:27am Aug 9, 2021 3:16am | Edited 3:27am
I do not regret that I chose your company to start my trading career. It was hard at first if, honestly, I was scared. I invested a lot of money initially; I even took a loan from https://www.yhdistalaina.com/yhdistelmalaina/ But in the end, through a lot of work and the development of strategic thinking, I ended up returning my debts and earning more than I supposed I would. I succeeded because I believed in myself, and I followed my discipline. Yes, it's risky, but don't expect, guys, that trading is easy. Nobody said it.
  • #7,884
  • Aug 9, 2021 7:06am Aug 9, 2021 7:06am
Hello, is there any italian on the board trading with FTMO? I need help in the regards of FTMO rewards taxation. Im currently unable to send PMs.

Quoting kuriisenbo
I do not regret that I chose your company to start my trading career. It was hard at first if, honestly, I was scared. I invested a lot of money initially; I even took a loan from https://www.yhdistalaina.com/yhdistelmalaina/ But in the end, through a lot of work and the development of strategic thinking, I ended up returning my debts and earning more than I supposed I would. I succeeded because I believed in myself, and I followed my discipline. Yes, it's risky, but don't expect, guys, that trading is easy. Nobody said it.
Trading aint easy and Ive lost money too but trust me paying taxes in my country is far worse of an headache.
  • #7,885
  • Aug 9, 2021 1:42pm Aug 9, 2021 1:42pm
Quoting Trader-IT
{quote} Ciao. La tua domanda è più che legittima ed è molto importante. Un tema (tra l'altro) di cui non si parla mai. Effettivamente, come hai correttamente specificato in un tuo post precedente, la tassazione e gestione contabile di un conto privato di trading, è un'altra cosa. Sono un paio di mesi che giro in cerca di informazioni su tutte queste aziende Prop e attualmente ho iniziato con due di loro (non FTMO). Non ho ancora ottenuto un pagamento, ma la cosa comunque certa e -pare- comune a tutte queste aziende se serie, è che bisogna inviare...
Hello, have you ever found an actual solution? Thanks
  • #7,886
  • Aug 9, 2021 3:11pm Aug 9, 2021 3:11pm
Quoting HammerHeart
Hello, is there any italian on the board trading with FTMO? I need help in the regards of FTMO rewards taxation. Im currently unable to send PMs. {quote} Trading aint easy and Ive lost money too but trust me paying taxes in my country is far worse of an headache.
Post a few replies here and there and your PM Box will be activated once you have posted a few post - +/- 5 posts
TSLA: 30-Dec-22 123.18 // 16-Jun-23 260.54 **111.51%**
  • #7,887
  • Aug 12, 2021 10:11pm Aug 12, 2021 10:11pm
I just have a few questions, as I'm looking to take on a challenge in October. How long does the demo account last for? I'd ideally like to start next week and get back into trading shape, since I haven't done live trading in 2 years. I had a demo account with a Canadian broker, but they only last for one month before they expire. What is the leverage rate for the pairings? I don't trade exotics, mostly major and minor pairings. Occasionally I'll trade silver or gold, but with small positions on gold. Canadian leverage rates are crazy and change each month. Is it a global leverage rate for the pairings? Or does it vary from major to minor pairings?

I'm looking forward to your reply, and to taking on the challenge.
  • #7,888
  • Aug 13, 2021 4:47am Aug 13, 2021 4:47am
Hi. My first post.
Wondering if a funded FTMO trader could please advise the approx turnaround time to receive the new login details for the next FTMO account after completion of an existing/previous one. Thanks.
  • #7,889
  • Aug 13, 2021 7:27am Aug 13, 2021 7:27am
Quoting 4xNewGuy
I just have a few questions, as I'm looking to take on a challenge in October. How long does the demo account last for? I'd ideally like to start next week and get back into trading shape, since I haven't done live trading in 2 years. I had a demo account with a Canadian broker, but they only last for one month before they expire. What is the leverage rate for the pairings? I don't trade exotics, mostly major and minor pairings. Occasionally I'll trade silver or gold, but with small positions on gold. Canadian leverage rates are crazy and change...
Symbol specifications are provided on the website if you look for them. 100x forex pairs and 50x CFD.

Just register a demo with a broker of your choice imo. FTMO provides a 15 days trial run.
  • #7,890
  • Aug 13, 2021 8:32am Aug 13, 2021 8:32am
what happened with all those who already got funded
Allergic to bullshitters, never argue with fools
  • #7,891
  • Aug 13, 2021 11:11am Aug 13, 2021 11:11am
Happy Friday everybody,

thank you for tuning in to our ForexFactory thread, I hope you all had a great week and secured some profitable positions. There are not that many updates and topics to cover today, so let’s dive straight into it.

Beginning with the platforms, scheduled maintenance will be performed on all our platforms on Saturday, 14th of August from 08:00 to 18:00 platform time (GMT+3), so those of you who trade cryptocurrencies even during the weekend, please make sure to manage your trades accordingly.
While speaking on the platforms, there were no issues/delays/freezes in the past week, platform maintaining proceeds exactly as expected.

As there are no further updates to share, we can move on to your questions. Some of them have already been answered, some of them are yet to be responded to. Kindly find my comments below.


Quoting 4xNewGuy
I just have a few questions, as I'm looking to take on a challenge in October. How long does the demo account last for? I'd ideally like to start next week and get back into trading shape, since I haven't done live trading in 2 years. I had a demo account with a Canadian broker, but they only last for one month before they expire. What is the leverage rate for the pairings? I don't trade exotics, mostly major and minor pairings. Occasionally I'll trade silver or gold, but with small positions on gold. Canadian leverage rates are crazy and change...
Hi 4xNewGuy, welcome to our forum, you’re at the right place to ask questions.
The Evaluation Process consists of 2 steps - FTMO Challenge and Verification. In the FTMO Challenge, you have 30 days to meet the Profit Target and in the Verification, you can take the advantage of up to 60 to get the required profit. In total, we’re looking at 90 days. If you manage to meet the Profit Target sooner than that, you do not have to wait for the full duration to expire.
The base leverage on Forex pairs on the FTMO Account is set to 1:100. If you choose the Swing account type (which lets you trade during all news releases and hold our positions overnight/over the weekend), the leverage would be 1:30.
The required margin percentage varies per asset class, but for all Forex pairs, the requirement is united to 1% (hence the leverage is 1:100).
If you’d like to check the basic specifications of all the instruments we offer, you can do so at https://ftmo.com/en/symbols-trading-updates/

Quoting NevPed
Hi. My first post. Wondering if a funded FTMO trader could please advise the approx turnaround time to receive the new login details for the next FTMO account after completion of an existing/previous one. Thanks.
Hello NevPed, I’m glad to see another new face among us. Once you finish the current cycle and reach the Profit Split Day, first we will verify all of your trades for legitimacy, which is usually done on the next business day. Once verified, you will be able to decide how much you would like to withdraw from your FTMO Account. After you confirm the amount in your Client Area, you will receive a new FTMO Account and our accounting department will proceed with the payout transaction. Altogether, the process generally takes 3-7 business days.


And we're finished for this week. Thank you for your attention, I'll be back with hopefully more new updates the next Friday again.

-Vitek
  • #7,892
  • Aug 14, 2021 8:08am Aug 14, 2021 8:08am
Quoting Muhammedfx
what happened with all those who already got funded
I guess a lot don't come on here once they get funded, I pop by from time to time to read Vitek's posts and see what others are discussing. I've been a funded trader for a little while. One account is still underwater while the other is positive, hoping for another withdrawal at the end of this trading month. Nothing else to say really, other than FTMO have been professional throughout and come highly recommeneded!
  • #7,893
  • Aug 14, 2021 5:40pm Aug 14, 2021 5:40pm
I love this? Where have you been all this while?
Rise or fall....a better me!
  • #7,894
  • Aug 15, 2021 3:41am Aug 15, 2021 3:41am
Quoting Bororo
I love this? Where have you been all this while?
Haha, I try to avoid forums generally, I tend to trade better when in my own little bubble... But page 102-ish of this thread (around June 2020) has a few of us discussing challenges and verifications, a few discuss getting a funded account so you could see how they are getting on...
  • #7,895
  • Aug 19, 2021 6:35pm Aug 19, 2021 6:35pm
Quoting Vitek-ftmo
Hello NevPed, I’m glad to see another new face among us. Once you finish the current cycle and reach the Profit Split Day, first we will verify all of your trades for legitimacy, which is usually done on the next business day. Once verified, you will be able to decide how much you would like to withdraw from your FTMO Account. After you confirm the amount in your Client Area, you will receive a new FTMO Account and our accounting department will proceed with the payout transaction. Altogether, the process generally takes 3-7 business days. And we're...
Thanks Vitek for your reply.
I dislike having to be in this position to have to ask, but it is playing on my mind.
Is it possible to please provide a more detailed explanation of the processes involved on why it might be taking so long for my new account to be received (well, in my head it seems like a long time - time drags when waiting, waiting, waiting).? If I can understand the processes more then it will help to belay any future periods of sitting and waiting for that email to arrive.
Details are as follows:
I passed my first months funded account on 5 August and Invoice was paid on 10 Aug. No probs there - fantastic in fact.
As at writing of this post I have not yet received my next account details. I have made 3 enquires (probably too many but I was excited) during this time period requesting an update on the progress of the new account, and have received each time the 'cut and paste' response of 'Please note that your account is currently in the queue for processing. You should receive your new login credentials within 1-2 business days.' There has been no other correspondence received on this topic.
This enquiry is not meant to be any more than trying to get a better understanding of this process as it feels like I have lost 8-10 days of trading opportunities.
Thanks Vitek.
  • #7,896
  • Aug 20, 2021 6:31am Aug 20, 2021 6:31am
Quoting NevPed
{quote} Thanks Vitek for your reply. I dislike having to be in this position to have to ask, but it is playing on my mind. Is it possible to please provide a more detailed explanation of the processes involved on why it might be taking so long for my new account to be received (well, in my head it seems like a long time - time drags when waiting, waiting, waiting).? If I can understand the processes more then it will help to belay any future periods of sitting and waiting for that email to arrive. Details are as follows: I passed my first months...
As 'Murphy's Law' would have it, I have just received a polite explanatory email from FTMO support and an apology for the delay in processing the new account - an internal technical issue. Please disregard my above post Vitek. All sorted now. Thanks.
  • #7,897
  • Aug 20, 2021 1:48pm Aug 20, 2021 1:48pm
Hello fellow traders,

once again we have reached the final day of the week, which gives us a great opportunity to summarize recent news & updates.

Starting off as usual with platform updates: as the Summer bank holiday is approaching in the UK, on Friday 27th August 2021, UK100.cash will close early at 23:00. The index will remain closed throughout Monday and will reopen for trading on Tuesday, 31st August 2021 at 03:00 platform time (GMT+3).

Secondly, I would also like to emphasize the following announcement.
Just a few hours ago we were informed that our Liquidity Providers anticipate risk in markets associated with a possible rate intervention by the Swiss National Bank (SNB), all assets with Swiss franc (CHF) will therefore go through margin requirement adjustment.
The leverage on CHF assets will be reduced to 1:33 for normal account types and 1:10 for Swing account types. This will affect new and existing positions starting on Monday, 23rd August 2021, at 11:00 CEST (09:00 GMT). If you have currently open positions on CHF, please make sure to manage them accordingly.
We would also like to strongly advise caution while trading CHF assets as there is a significant possibility of increased volatility in the near future.

Let’s move on to the news part as I believe that today, I truly do have something exciting to publish.
We have added a completely new and heavily required payment option, it is now possible to pay the initial fee via cryptocurrencies using multiple different crypto wallets. The service is provided by crypto.com and is available for all traders.
Crypto withdrawals are currently in development and will be also available soon.

We have also done several minor improvements to the Client Area, the most important of which is a redesign of the Mentor App, which is now more user-friendly. Besides that, the software code has also been heavily re-written in order to be more reliable.

With that being said, I would like to move on to your posts and react to some comments that were recently arisen.


Quoting ChilledT
{quote} I guess a lot don't come on here once they get funded, I pop by from time to time to read Vitek's posts and see what others are discussing. I've been a funded trader for a little while. One account is still underwater while the other is positive, hoping for another withdrawal at the end of this trading month. Nothing else to say really, other than FTMO have been professional throughout and come highly recommeneded!
Hello ChilledT, thanks for tuning in once again and sharing your path! I’m glad to see that you remain satisfied with our services, I hope you will also remain regularly withdrawing Profit Splits from your FTMO Account.

Quoting NevPed
{quote} As 'Murphy's Law' would have it, I have just received a polite explanatory email from FTMO support and an apology for the delay in processing the new account - an internal technical issue. Please disregard my above post Vitek. All sorted now. Thanks.
Hi NevPed, thank you for portraying the whole situation by also adding the second post.
You definitely should not have been waiting for that long. Unfortunately, as mentioned in the email you’ve received, a certain, quite rare technical issue has caused the discussed delay.
Just in July, we have paid over $1,750,000 to our traders, and we're talking only about the FTMO Accounts in USD. With such a large amount of transactions and newly processed FTMO Accounts, it is possible for such delay to occur, but nevertheless, I assure you that we keep on improving our systems to eliminate such inconveniences from happening.
I apologize for the situation and I believe it has been the last flaw you’d encounter while trading with us.


Alright, that is it for today. Thank you for attention everyone, I expect some question regarding the crypto payment option may turn up during the week.
I will be back on Friday as usual and in the meantime, I hope all of you have a great enjoyable weekend.
Cheers.

-Vitek
  • #7,898
  • Aug 25, 2021 8:37am Aug 25, 2021 8:37am
Hello,

I have a question to people who trade on the new Swing account of FTMO.

Do they have a lagging server around high impact news, because now you can trade the news with the swing account (still 30:1 leverage which is ok) and you are trading on their own demo server ? Do they simulate slippage when executing on fast markets then or do they have such lightning fast quotes on their demo server that this is not required ? Or do you get the quote you see with no slippage regardless of order size too ? Is there a difference here using MT4 or cTrader as platform from them ?

Please share your experience on slippage please with FTMO too. Thank you.
  • #7,899
  • Aug 25, 2021 8:54am Aug 25, 2021 8:54am
Quoting QAndy
Hello, I have a question to people who trade on the new Swing account of FTMO. Do they have a lagging server around high impact news, because now you can trade the news with the swing account (still 30:1 leverage which is ok) and you are trading on their own demo server ? Do they simulate slippage when executing on fast markets then or do they have such lightning fast quotes on their demo server that this is not required ? Or do you get the quote you see with no slippage regardless of order size too ? Is there a difference here using MT4 or cTrader...
It's going to have the same response you would see on any other live server.
Trade with confidence, trade without fear.
  • #7,900
  • Aug 26, 2021 12:42pm Aug 26, 2021 12:42pm
Hi Vitek,

Just a quick question regarding max daily loss on swing account,
If I have positions opened overnight and they are on in loss does this impact the max daily loss?
Support explained me this (TBH couple messages until I caught how it works) that to calculate what's the Max Daily Loss it does only take into consideration opened/closed transaction from certain day.
In this case I had positions at -$4000 opened at the begining of the day, this means, according to support, The Max Daily Loss will be triggered as soon as those position reach -$5000 (not -$9000 as I would have thought).
Isn't a bit awkard way to calculate. It means If I start a day with opened position at -$4000, my Max Daily Loss is -$1000?

To visualise:
Begining of the day:
Balance 99 000
Equity 95 000
Currently opened position -4000

This means as soon as my equity hit 94 000 I violate the Max Daily loss.

Is this desired to work that way or am I missing something?
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