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FTMO - For serious traders

  • #7,961
  • Sep 6, 2021 4:22pm Sep 6, 2021 4:22pm
Quoting tameurnia
{quote} But the spread is reserved at the time of opening the position And not changing the place of the stop or the target by the broker
Right click into chart -> properties -> show ask price line. So you can visualize it on the chart. If you are selling either sl and tp will close trade if hit by the ask price line.

Cause well, you are selling and you need look at ask price. You have been looking at bid price line.
  • #7,962
  • Sep 6, 2021 8:22pm Sep 6, 2021 8:22pm
Quoting Takisd
{quote} He means that spread should be fixed after you open an order, which again, is not true because you have to pay in and out spread.
Tell that to the clowns at FXTM and FBS (with a 2.5 stars review on fpa) who now offer "zero spreads) trading accounts.
  • #7,963
  • Edited 4:15am Sep 7, 2021 4:00am | Edited 4:15am
I have questions:

1. Max Total Loss will reset each month.
So if I pass Max Daily Loss & Profit Target in Challenge step within 1 month, and then in the end of period (within 1 month), it will be reset Max Total Loss right?
So if Max Total Loss passed, then continue to Verification step? Or?

2. If I failed Challenge step, then is the fee will be refund? Or?
astroganndotcom
  • #7,964
  • Sep 7, 2021 5:31am Sep 7, 2021 5:31am
Quoting pije76
I have questions: 1. Max Total Loss will reset each month. So if I pass Max Daily Loss & Profit Target in Challenge step within 1 month, and then in the end of period (within 1 month), it will be reset Max Total Loss right? So if Max Total Loss passed, then continue to Verification step? Or? 2. If I failed Challenge step, then is the fee will be refund? Or?
If you pass the Challenge step within one month you then go onto the verification where everything is reset. If you fail the Challenge step then the fee is not refunded. It is only refunded when you are an ftmo trader and have your first profit split.
  • #7,965
  • Sep 7, 2021 9:38am Sep 7, 2021 9:38am
Hello Folks, Anyone trading and funded by FTMO from the USA? Would like to know FTMO friendly/preferred banks in the US. Thanks in advance.
  • #7,966
  • Sep 7, 2021 5:06pm Sep 7, 2021 5:06pm
Quoting cruxtrader
Hello Folks, Anyone trading and funded by FTMO from the USA? Would like to know FTMO friendly/preferred banks in the US. Thanks in advance.
Funded traders are all over Youtube.

There are probably 8 or 10 new prop firms that have started in the past few years. I would suggest doing a point-by-point breakdown of each of them before you make your final determination of who you are going to work with. This is a long term arrangement and there is a lot of money at stake so it behooves you to study the industry.

I have decided on theproptrading.com.au because they have a better profit split, better take profit, and other things.
  • #7,967
  • Sep 7, 2021 5:29pm Sep 7, 2021 5:29pm
Quoting cruxtrader
Hello Folks, Anyone trading and funded by FTMO from the USA? Would like to know FTMO friendly/preferred banks in the US. Thanks in advance.
FTMO friendly banks? What are you talking about?

It’s a called a bank wire that every bank uses.
Trade with confidence, trade without fear.
  • #7,968
  • Sep 10, 2021 12:53pm Sep 10, 2021 12:53pm
Hello everyone,
we’re tuning in again with the regular Friday ForexFactory update. As there’s not that much to go through, we’ll dedicate more space to your questions. But nevertheless, let’s start with the updates as usual.

As there are no upcoming holidays and no scheduled platform maintenance breaks, there will not be any adjustments to the trading hours of any instrument during the following week. Cryptocurrencies remain open during the weekend as usual as well.

Other than that, the past week has been relatively usual for us. We keep on being focused on our long-term projects, but we also manage to keep on adding smaller improvements to our website/services over time as well. For example, just a few days ago, the Italian language became another fully supported customer support language. We’re already communicating in 15 languages, so I believe most of you don’t have to be afraid to contact us in your mother tongue.

I’m hoping to reveal more interesting updates soon, but for now, let’s switch on to your posts. Since the last update, we’ve seen quite a lot of traffic on our forum. I would especially like to thank Kevitsch, who truly took his time digging into tax laws for our German traders.
As usual, please find my responses to your comments below:

Quoting JBustos
FTMO Team, why does the 'FTMO-Server' server keeping freezing up during major news events? Last week when U.S. Fed Chair Powell gave his speech, my FTMO MT4 platform froze up with no data refreshing, prices not changing, and every button being non-operational. I literally could not even close/restart the MT4 platform. This happened two days ago during the U.S. non-farm payroll announcement as well. My FTMO MT4 platform froze up and I could not do anything. During these news events I had 14 Purple Trading MT4 platforms open, and they all worked properly...while...
Hello Jbustos, as far as I know, we did not receive any reports from our traders that would indicate similar issues occurring on our platforms. During a typical freeze of the Datafeed, it is solely the prices/charts that are frozen and not moving. As you described in your case, the whole platform stopped responding and crashed, which leads me to the belief that there has been some rather software-related issue with MetaTrader on your end.
Anyway, if such a situation would repeat itself, please contact us at [email protected], we’ll see if we can identify any issues from the log file.

Quoting C-12
Hi all Is it possible to start a challenge on a 100:1 account and then flip over to the 30:1 (swing) once verification is completed? There doesn't seen to be any reason to take a challenge using the swing option as the objectives are identical. Unless the weekend / news policy is now enforced on the challenge? Apologies if this has been answered before. Cheers
Hi C-12, I can only confirm the response given by Lynnc. The account type can be changed after you pass the Verification before receiving the FTMO Account and also after each Profit Split.
I would also like to respond to your suggestion regarding increasing the trading period for Swing traders. Such a change would make a huge difference in our conditions and as I'm sure you understand, I can not really confirm or determine whether something like that will be happening in the future. If we decide to adjust our Trading Objectives however, this ForexFactory thread will be one of the first places for the announcement.

Quoting tameurnia
Hi guys I noticed a problem with the platform Hit the stoop. two points before touching it And hit the target after skipping it by two points. Is this legal? On 06/09 gbp nzd did you exceed the price 1.94139؟ in your platform {image}
Hi Tameurnia, as I can see from the screenshot, the position has been closed by a triggered SL order that has been filled 1 point above the desired level. In the real market conditions, such inaccuracies are very common and unfortunately inevitable, especially on exotic pairs and during holidays similar to the Labor Day that took place on the 6th of September.

Quoting pije76
I have questions: 1. Max Total Loss will reset each month. So if I pass Max Daily Loss & Profit Target in Challenge step within 1 month, and then in the end of period (within 1 month), it will be reset Max Total Loss right? So if Max Total Loss passed, then continue to Verification step? Or? 2. If I failed Challenge step, then is the fee will be refund? Or?
Hello Pije76, the Max Loss limit does not reset and always remains at the same level. Simply put, your equity must never drop below 90% of the initial balance (80% in the case of the Aggressive risk account type).
If you exceed any of the Loss limits or you finish your FTMO Challenge/Verification with a negative balance, then that particular account will not be able to continue in the process and the fee will not be refunded. However, if you manage to stay within the Loss limits and you finish the FTMO Challenge/Verification above the initial balance (does not matter how much, you simply need to have any profit left on the account), then you will be able to repeat the FTMO Challenge for free (more on that here).


Okay, another weekly update is history. Thank you for all your questions, posts, and suggestions, we always like seeing our thread alive!
See you all next week!
-Vitek
  • #7,969
  • Sep 10, 2021 5:30pm Sep 10, 2021 5:30pm
Quoting Vitek-ftmo
{quote}Hello Jbustos, as far as I know, we did not receive any reports from our traders that would indicate similar issues occurring on our platforms. During a typical freeze of the Datafeed, it is solely the prices/charts that are frozen and not moving.{quote}
A big move in the crypto markets and the FTMO crypto markets immediately disconnected. Reported immediately, of course, but as of this writing it's been over an hour with no updates, no movement. I've been assured FTMO is already surely looking into the matter. Initially I was told it should only be a few minutes, but when I asked about the root cause I was then told there was no actual timeline.

In this case the bid/ask completely disappeared. Verified on desktop, Web, and mobile clients.

This is an area where the weakness of CFDs shows through (the other being FTMO's hideously wide spreads for crypto). Ironic as the adoption of perpetual swaps generally leads to tighter spreads and better liquidity on every other exchange (or actual exchange I should say). Honestly I've been impressed by the markets for every other instrument out there but my advice to anyone trying it out is stay away from crypto on FTMO. The spreads are so bad you are almost guaranteed to lose money and the reliability is very much second tier to all other FTMO markets. And it shuts down over the busiest part of every weekend, so you can't risk holding any swing trade longer than 1 week.

It would be great if FTMO could investigate some connection to a real exchange where it could be traded against real counterparties. Either swaps/futures or even actual physical coins would have better spreads. That would be a huge improvement to the offering.

Now if you will excuse me I will go back to watching the charts on any and every other crypto exchange out there, as the price retraces back over my take-profit orders that didn't fire. We'll see if it bounces hard enough to blow up my FTMO account, all while I can't do anything!
  • #7,970
  • Sep 10, 2021 5:48pm Sep 10, 2021 5:48pm
It just came back. Elapsed time: 90min.

Will wait to hear back from FTMO on how they'll handle compensating the sweet gainz I was unable to realize.
  • #7,971
  • Sep 11, 2021 2:08am Sep 11, 2021 2:08am
what can i do to see ftmo spread??
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #7,972
  • Edited 3:27am Sep 11, 2021 3:12am | Edited 3:27am
Is there anything worse than a whingeing trader? Yes, a whingeing crypto trader! ;-)

Just change instruments, or change trading style - sorted.
  • #7,973
  • Sep 17, 2021 7:58am Sep 17, 2021 7:58am
Hi Vitek.
A question regarding the maximum capital per trading strategy. I understand there is a maximum (standard) capital limit of $400k/trading strategy.
My question is: if someone is able to obtain the $400k capital through the normal challenge and verification process, could the one trading strategy continue to be used if the capital limit was increased greater than $400k through the activation of the scaling plan?
Thanks.
  • #7,974
  • Sep 17, 2021 9:51am Sep 17, 2021 9:51am
Quoting NevPed
Hi Vitek. A question regarding the maximum capital per trading strategy. I understand there is a maximum (standard) capital limit of $400k/trading strategy. My question is: if someone is able to obtain the $400k capital through the normal challenge and verification process, could the one trading strategy continue to be used if the capital limit was increased greater than $400k through the activation of the scaling plan? Thanks.
According to the FAQ's on the website, yes you can trade more money when scaling. If you look at the last paragraph here. https://ftmo.com/en/faq/what-capital...n-ftmo-trader/
  • #7,975
  • Sep 17, 2021 12:01pm Sep 17, 2021 12:01pm
Happy Friday traders,
I’m glad to be back for another FTMO post here on ForexFactory with a few new updates! Let's get right into it.

Starting off with the platforms: DAX, the German benchmark stock index, will extend its composition from 30 to 40 listed stocks. The event will take place on Monday, 20th September and the open positions held over the upcoming weekend (when allowed to do so for FTMO Accounts) will not be affected by this change.
Please note that the related product on our platforms will keep the current symbol notation of “GER30.cash” until further notice. We will notify our traders regarding measures that may be taken to address this market change in the future.

Also, on Wednesday, 22nd September, the HK50.cash instrument will be closed for the whole session due to a national holiday in Hong Kong.
Our mobile FTMO App has also just received a new update, which includes some of the most requested features. As of now, the app remains available for Android devices only, the approval on Apple’s App Store should be granted in the near future.
Having cleared the updates, let’s move on to your recent posts & questions:


Quoting delta-vega
{quote} A big move in the crypto markets and the FTMO crypto markets immediately disconnected. Reported immediately, of course, but as of this writing it's been over an hour with no updates, no movement. I've been assured FTMO is already surely looking into the matter. Initially I was told it should only be a few minutes, but when I asked about the root cause I was then told there was no actual timeline. In this case the bid/ask completely disappeared. Verified on desktop, Web, and mobile clients. This is an area where the weakness of CFDs shows...
Hi Delta-vega, please note that we are not a crypto exchange that would solely focus on spreads in order to compete with other exchanges to attract as many orders as possible, regardless of the trade result. We are not focusing on the number of placed orders, but rather on their results. If you also consider the fact that the vast majority of our current traders focus mainly on Forex and indices, we are currently not able to provide the same conditions for cryptocurrencies as top world exchanges.
Nevertheless, we are well aware that there is a lot of space for improvements and as we’ve stated and proved multiple times, overall best possible conditions are our goal.
Finally, I would like to assure you that we always take responsibility if the issue is on our side, we do not try to mask any outages (we even announce past outages here) and if any trade of our clients gets affected, we resolve the situation by a fair solution usually within the following day.

Quoting TiredOfLife
what can i do to see ftmo spread??
Hello TiredOfLife, the best way to check our spreads and overall trading conditions would be to start a Free Trial with us, which has the same conditions as all the other trading accounts.

Quoting NevPed
Hi Vitek. A question regarding the maximum capital per trading strategy. I understand there is a maximum (standard) capital limit of $400k/trading strategy. My question is: if someone is able to obtain the $400k capital through the normal challenge and verification process, could the one trading strategy continue to be used if the capital limit was increased greater than $400k through the activation of the scaling plan? Thanks.
Hi NevPed, the short answer is yes. The $400,000 limit per trader/strategy does not apply if the trader reaches the capital increase using the Scaling Plan.


Okay, another quite short update is history. Thank you for your attention and I'll see you next week again.
Enjoy your weekend everybody!
-Vitek
  • #7,976
  • Sep 17, 2021 12:21pm Sep 17, 2021 12:21pm
Quoting Vitek-ftmo
Happy Friday traders, I’m glad to be back for another FTMO post here on ForexFactory with a few new updates! Let's get right into it. Starting off with the platforms: DAX, the German benchmark stock index, will extend its composition from 30 to 40 listed stocks. The event will take place on Monday, 20th September and the open positions held over the upcoming weekend (when allowed to do so for FTMO Accounts) will not be affected by this change. Please note that the related product on our platforms will keep the current symbol notation of “GER30.cash”...
I'm surprised there was no mention of the new commission splits that are on the website, seems like quite a big update to me.
  • #7,977
  • Sep 18, 2021 10:55am Sep 18, 2021 10:55am
https://trader.ftmo.com/account-anal...e=4c903e7bbc46
I want to give feedback
Funding actually looks like 50,000.
But this is not true...because you are not entitled to dispose of the full amount.
If you lose 2500 in a day or lose 5000 you will be fired and rejected.
This means that the real account is 5000. And not 50000.
The second thing.
If you go 30,000 and lose 5,000, you will be rejected and suspended.
Although the result is a profit of 25000.
I hope the finance company will change the terms.
  • #7,978
  • Sep 18, 2021 11:49am Sep 18, 2021 11:49am
Quoting tameurnia
https://trader.ftmo.com/account-anal...e=4c903e7bbc46 I want to give feedback Funding actually looks like 50,000. But this is not true...because you are not entitled to dispose of the full amount. If you lose 2500 in a day or lose 5000 you will be fired and rejected. This means that the real account is 5000. And not 50000. The second thing. If you go 30,000 and lose 5,000, you will be rejected and suspended. Although the result is a profit of 25000. I hope the finance company will change the terms.
Been making money every month with them for over a year now. If you made $30K in a month, your risk is way too high and the account SHOULD blow up. Profit and DD kind of go hand in hand. I see folks make 15% in a week on a personal account, but their max DD went to 25% +. What if those trades hadn't reversed? 50-60% DD? That may be fine on a $1000 personal account.

The entire point of prop firms is to trade much higher capital than you would on your own. Therefore, you do not need to be risking 5% in a day. I made 2.55% this week, my max DD was 0.21%.

For $650, you get dd of 10K, about 15X your "fee". You have 100:1 leverage, so buying power of 10 million. I have never lost more than 1,000 in a day, There is a certain strategy to trading with a prop firm, IMO, the # 1 thing is do not get into DD early, whether that be a challenge or profit cycle, trade smaller than normal until you have a buffer, but in all reality, you should be able to grind out 4-6% monthly, even 10%+ in a great month without even using more than 2-3:1 leverage.

MFF is an even better deal, for $499 you get 12K in DD, or $949 for 24K in DD. Max both of these companies out, grind out 1% weekly and you have an income over half a mill, so no need to be risking 5% in a day. The folks who view forex trading as an overnight success, get rich quick type of gig will simply continue blowing up their personal accounts and/or failing challenges at prop firms.
  • #7,979
  • Sep 19, 2021 1:10am Sep 19, 2021 1:10am
Hi FTMO,

Please can you confirm if there are any plans to add more stocks soon? If so, please can you give a rough estimate for how many more may be added?

Regards,

Nathan
  • #7,980
  • Sep 19, 2021 12:34pm Sep 19, 2021 12:34pm
Great to see FTMO increase the profit split.

One thing still bothers me with FTMO compared to other prop firms (like My Forex Funds and Traders Central)
The thing is I think FTMO overcharge for their 200k challenge, it costs around $1270, while other prop firms like My Forex Funds charge $979 for 200k challenge, and Traders Central charge $720 for 200k challenge.

The thing I don't understand is the price increment from 100k challenge(540 euro) to 200k challenge(1080 euro) is 100% increment
While the price increment from 25k challenge(250 euro) to 50k challenge(345 euro) is only 42%
also the price increment from 50k challenge(345 euro) to 100k challenge(540 euro) is only 39%

why when the account size double from 100k to 200k you double the fees but for lower tier accounts when the account size double the fees doesn't actually double instead you get the higher tier account at a reduced prices compared to buying two lower tier accounts.
The 200k challenge fee should increase by around 40% of the 100k challenge fee, same increment as lower tier accounts mentioned above, so it should cost 1.4*540(euro)=756 euro

Obviously this is your business and you charge whatever you think is suitable, but I thought this is something worth mentioning to you since you take feedback from people who are interested to join FTMO.
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