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FTMO - For serious traders

  • #8,001
  • Oct 8, 2021 7:11am Oct 8, 2021 7:11am
Quoting lddd
Hello. I am testing FTMO now for some time and noticed that some trades are not shown for the correct times based on my MT4 terminal but also if reviewing them through the internal FTMO statistics page. It happened to me for the 3rd time now in just 2 few weeks. For another trade even the stop loss and take profit level i placed completely failed to trigger. And no there was no spread widening, low liquidity or similar that might have effected the trade execution. Maybe this is something only happens for a trial or challenge demo account but will...
I've never had that problem, and not sure how it can happen as because there is swap involved which happens at 0.00 server time, the trade surely must have been in there for the swap to trigger.
  • #8,002
  • Oct 8, 2021 12:23pm Oct 8, 2021 12:23pm
Quoting lynnc
{quote}I've never had that problem, and not sure how it can happen as because there is swap involved which happens at 0.00 server time, the trade surely must have been in there for the swap to trigger.
I didn’t even notice the swap. You are right but I am 100% sure i entered the trade well after 00:00 server time because I wasn’t even at home before.

So it’s strange.
  • #8,003
  • Oct 8, 2021 1:58pm Oct 8, 2021 1:58pm
Quoting lddd
{quote} I didn’t even notice the swap. You are right but I am 100% sure i entered the trade well after 00:00 server time because I wasn’t even at home before. So it’s strange.
Its very odd, I've been checking through all of mine since you posted, nothing so far but will let you know if I find anything similar.
  • #8,004
  • Oct 8, 2021 2:54pm Oct 8, 2021 2:54pm
Hi Traders,
the week flew by and we're back with another regular FTMO update. Today is the first Friday of the month as well, so I hope that today’s NFP went in favour of our active traders.
Starting off with Trading Updates as usual, today with important news to all index traders: due to the Chung Yeung Festival, the Hong Kong index (HK50.cash symbol) will close early on Wednesday, 13th October 2021, at 10:00 PM. The index will remain closed throughout Thursday (14th October 2021), reopening on Friday at 01:05 AM as usual. All times are specified in the platform time (GMT+3).

Now is the time for another, quite significant news.
From now on, all traders can configure their FTMO Challenges in three new currencies: Swiss franc (CHF), Canadian dollar (CAD), and Australian dollar (AUD).
As the withdrawals from the FTMO Account are processed in the account currency, this could be interesting especially for Swiss, Canadian, and Australian traders as they can now receive payouts in their national currency.
The account sizes are proportionately set to be equal among all the currencies we offer, therefore the new equivalents for the 100,000 USD FTMO Challenge size are 80,000 CHF, 120,000 CAD, and 130,000 AUD. The full comparison is available at https://ftmo.com/en/#objectives

When it comes to our internal focus, we remain busy primarily with long-term development, but that does not mean that the Client Area would be left unnoticed. Minor new features are being regularly added to Account MetriX to make the overview of your trades even more comfortable & informative - the latest addition is the new tooltip that includes a countdown to the Max Daily Loss limit reset - just hover your mouse over Today’s Permitted Loss. Your timezone can be also manually changed in the Account information section.

That marks the end of the first section, let’s move on to our Q&A - kindly find my responses to your questions below.


Quoting Never
Can we use expert advisor ?
Hi Never, yes, EAs are allowed during all stages at your own risk. Be careful when using publicly available expert advisors on your FTMO Account. There might be multiple other FTMO Traders already using the same EA and in such a case, the $400,000 limit per strategy could be exceeded. In such case, we would ask you to stop using the software in order to minimize our exposure.

Quoting Contessa22
Hi Vitek/FTMO, I have some questions for you: 1. Would you consider opening a discord account? It would be easier to announce important updates there and reach many people and FTMO members, not to mention one can easily find answers to FAQs, topics, etc. 2. Is the lot sizing on MT4 the same as the cTrader's for all assets? I have been practicing with your free trial and cTrader's platform with a diff broker, and might consider choosing cTrader if the lot sizing is the same for both platforms. 3. Do you have plans in the near future of paying out...
Hello Contessa22, thank you for your questions a let’s move on straight to answers:

  1. We do realize the potential hidden in communication platforms such as Discord, Telegram, etc., however, as of now, we find our website and our social media sufficient and we’re not seriously considering launching another channel in the near future. However, with time, that can of course change.
  2. The contract sizes are the same among all our platforms, the basic symbol specifications are available at https://ftmo.com/en/symbols-trading-updates/. However, the asset volume in your cTrader might be switched to units by default. In that case, simply go to Settings - Assets and switch from Units to Lots.
  3. Crypto payouts are currently in development. With the number of our FTMO Traders, we need the feature to work flawlessly and therefore I currently can not exactly confirm when crypto withdrawals will become available.

Quoting Vitore
Hi Vítek, a question re the 90% split. If I achieve this level and then buy another challenge and pass, will that second funded account be assigned 90% right away (because I have already met the criteria on the first account) or do I have to earn it individually for every account? Would I be able to merge such 2 accounts into one and under what conditions? 80% or 90% or not possible to merge them? Thank you!
Hello Vitore, the 90% Profit Split is available only for the scaled-up accounts, if you pass another Verification and receive another FTMO Account, the Profit Split ratio will be 80/20.
The benefit of increased Profit Split applies to newly scaled-up accounts, not newly merged accounts into accounts that are already scaled-up. By merging a non-scaled up account with a scaled-up one, we’re creating a completely new FTMO Account and the Profit Split ratio changes to 80/20.

Quoting lddd
Hello. I am testing FTMO now for some time and noticed that some trades are not shown for the correct times based on my MT4 terminal but also if reviewing them through the internal FTMO statistics page. It happened to me for the 3rd time now in just 2 few weeks. For another trade even the stop loss and take profit level i placed completely failed to trigger. And no there was no spread widening, low liquidity or similar that might have effected the trade execution. Maybe this is something only happens for a trial or challenge demo account but will...
Hi Iddd, upon checking your trading account in the trading platform, I was not able to find any occurrence of any particular trade being incorrectly executed. As you can see straight in the platform, trades ID 82255081 and 82468100 were executed at 21:46 and 22:09 platform time, which also confirms the Trading Journal in the Account MetriX. Please note that the platform time is firmly set to GMT+3 time zone and therefore it likely does not correspond with your local time. If those trades were executed two or three hours later as you claim, their results would have to be different as well. Maybe I misunderstood your point, and if that is the case, please let me know.
Also, if you’ve experienced any issues with SL or TP orders, we can definitely look into that, just kindly contact us at [email protected] with the exact ticket ID of the affected trade.


No more posts to respond to and we've reached the end of today's update. Thank you for your attention traders, I'll be back next week with more updates.
Have a great weekend everyone!
-Vitek
  • #8,005
  • Oct 8, 2021 4:03pm Oct 8, 2021 4:03pm
Thanks for letting me know. I am aware of the fact FTMO server is running GMT+3.

Both these trades were definitely executed 2 hours later than what both MT4 or your own statistics are saying it has been executed for.

Will keep monitoring it. Can there be a problem in the MT4 trading platform it self? So that it’s maybe marking trades for wrong times and I guess your own software would then just copy that wrong time stamp received by the trading platform?

regards
  • #8,006
  • Oct 9, 2021 10:45am Oct 9, 2021 10:45am
Quoting Vitek-ftmo
...The Market Watch has been enriched by the Volatility index (VIX.cash) and three additional cryptocurrencies (Cardano – ADAUSD, Polkadot – DOTUSD, Dogecoin – DOGEUSD). The new symbols are currently available & being tested on our Free Trials. Once the testing period is over, they will become available for FTMO Challenges, Verifications, and FTMO Accounts as well....
Hi Vitek, it's an excellent news and a great addition to the crypto instruments portfolio. I can see they are already available for cTrader as well. However, DOTUSD has a sequence of 10 hrs of wrong price data on multiple time frames during Asia session of October 2nd. Would it be possible to get it fixed? The variance is so much significant (ca. -20 points on every single bar during that time period) that is invalidates virtually all indicator results used on higher time frames.
Thank you!
Money is made by sitting, not trading
  • #8,007
  • Edited Oct 11, 2021 7:08am Oct 10, 2021 11:58am | Edited Oct 11, 2021 7:08am
Quoting Vitek-ftmo
When it comes to creating a new FTMO Account for each Reference period, the solution is simply way more administratively effective and it allows us to process payouts faster & mitigate the possible threat of a human error.
Also, the payout is being processed typically on the following day after your confirmation. That is also when the new FTMO Account is being created. Generally, most traders “lose” 1-2 trading days when withdrawing their profits.
I understand your reasoning. For cTrader would it be possible to create new account under the existing cTrader profile at least? It would still be a new account ensuring all the administration advantages stay as they are, while traders would keep some of the settings related to the profile such as watchlists and workspaces.

About the DOTUSD (I cannot edit the previous message anymore)
There's more of the wrong data than I though initially. To be precise, it's a whole day of October 2nd + Asia session of October 3rd. 34 hours in total.
Also, DOTUSD and ADAUSD price feeds contain much less ticks compared to other cryptos or the same price feeds coming from other brokers. It's about 10 times less ticks. The "missing" ticks can make quite a difference in trading more volatile periods. Is it planned to be improved?

Thank you!
Money is made by sitting, not trading
  • #8,008
  • Oct 14, 2021 8:21am Oct 14, 2021 8:21am
Hey Vitek, is there any truth to the murmurs that FTMO are thinking about establishing a copy service spin off to the public? I wouldn't ask normally as I doubt that would be something you would confirm or deny, but people have said that it might be in the offing in the future
  • #8,009
  • Oct 15, 2021 11:58am Oct 15, 2021 11:58am
Hi Traders,

thank you for tuning into today’s FTMO update. Today we have very few things to discuss, so let’s get straight into it.

We’re starting out, as usual, with platform updates. This week, however, you do not have to make any notes as there are not any adjustments to the trading hours of any instrument in the upcoming week whatsoever. There are no scheduled maintenance breaks either.

Those of you who have been following us for a bit know that it has not been that long since we’ve announced that you can purchase the FTMO Challenge using cryptocurrencies (introduced here on the 20th of August in the regular FTMO update).
The option became very popular and in order to be able to comfortably accommodate all transactions, we’ve added a new cryptocurrency payment provider this week - Unlimint.
You may use your supply of Bitcoin, Ethereum and Tether to pay for the Challenge while using Unlimint.

That’s all for the update, let’s now switch on to your questions:


Quoting lddd
Thanks for letting me know. I am aware of the fact FTMO server is running GMT+3. Both these trades were definitely executed 2 hours later than what both MT4 or your own statistics are saying it has been executed for. Will keep monitoring it. Can there be a problem in the MT4 trading platform it self? So that it’s maybe marking trades for wrong times and I guess your own software would then just copy that wrong time stamp received by the trading platform? regards
Hi Iddd, I have additionally checked those particular trades in MetaManager and I do have to confirm that I have not found anything odd about the execution time. You’re correct that our systems are using the data directly from the trading platform, however, I’m not sure how would it be possible for a MetaTrader 4 to change the opening time of a position, and also, as I have mentioned in my previous post, if those trades were executed 2 hours later than showed in the platform, the result of the position would have to be totally different.

Quoting Vitore
{quote} I understand your reasoning. For cTrader would it be possible to create new account under the existing cTrader profile at least? It would still be a new account ensuring all the administration advantages stay as they are, while traders would keep some of the settings related to the profile such as watchlists and workspaces. About the DOTUSD (I cannot edit the previous message anymore) There's more of the wrong data than I though initially. To be precise, it's a whole day of October 2nd + Asia session of October 3rd. 34 hours in total. Also,...
Hello Vitore, considering the number of regular newly created cTrader FTMO Accounts and how busy we currently are, I’m not sure whether creating all subsequent FTMO Accounts under the same cTrader profile is currently doable. Nonetheless, I do agree that it would make life of the FTMO Traders that use cTrader a little easier, so I’ll make sure to pass the proposal to our IT department.
Thanks for the suggestion!


Quoting Dao-trades
Hey Vitek, is there any truth to the murmurs that FTMO are thinking about establishing a copy service spin off to the public? I wouldn't ask normally as I doubt that would be something you would confirm or deny, but people have said that it might be in the offing in the future
Hello Dao-trades, although I generally can not comment on what we’re currently working on, I can confirm that a trade-copying service is not on our list.


That is it, we're at the end once again. Today's update was truly a short one, but we're already preparing some good news for the upcoming week.
Enjoy your time of during the weekend everybody!
-Vitek
  • #8,010
  • Oct 15, 2021 2:35pm Oct 15, 2021 2:35pm
Will FTMO ever offer a DIRECT FUNDING model? I understand FTMO current business model makes a lot of money from challenge fees but many of us traders don't want to do challenges and would prefer direct funding models. Please respond @Vitek-ftmo
  • #8,011
  • Edited 9:21pm Oct 15, 2021 9:01pm | Edited 9:21pm
Hello. Thank you for taking the time to respond to this thread each week. I appreciate your efforts.

I have two questions:

 

  1. Will FTMO ever consider offering a 'starting balance/overall draw-down' option, in lieu of the daily/relative draw-down option, similar to how Blue Edge Funding is doing? This would allow traders to pad their accounts with additional draw-down protection as they accumulate more profits over the long-term, thus reducing chances that they will lose their account. With a daily draw-down limit, it feels that we are starting over every day and we are unable to feel the rewards and benefits of our success while the risk of losing our account is staring us in the face everyday. With an overall draw-down limit, we are able to create more breathing room, thus allowing us to eliminate many psychological hurdles and allow us to trade better as a result since the chance of losing our account is so much smaller as we accumulate profits throughout the month.

  1. Also, in reference to Blue Edge, will FTMO ever consider a similar scaling plan that allows traders to increase their account size each time they hit a 10% profit target on the account? By keeping funds in the account during scale-up (instead of withdrawing), the additional draw-down protection can be completely covered, allowing you to increase provided capital to the trader without taking on more risk. This would allow traders to procure bigger profits sooner, in lieu of waiting several months to see significant account growth.


Thank you for your time and consideration.

  • #8,012
  • Oct 17, 2021 6:20pm Oct 17, 2021 6:20pm
Quoting Nsak3y
Hello. Thank you for taking the time to respond to this thread each week. I appreciate your efforts. I have two questions: Will FTMO ever consider offering a 'starting balance/overall draw-down' option, in lieu of the daily/relative draw-down option, similar to how Blue Edge Funding is doing? This would allow traders to pad their accounts with additional draw-down protection as they accumulate more profits over the long-term, thus reducing chances that they will lose their account. With a daily...
I'm not from FTMO, but go to their main page on their website. Hover the cursor over How It Works, then click on Trading Objectives. If you click on both the Maximum Daily Loss, and Maximum Loss tabs, you'll see that those are set to the initial account balance. So if you go up say $5000 on a $100k challenge. Your new max daily loss limit is $10k, and the max account loss limit is $15k. The loss limits are not trailing, they are fixed. I know it seems like it at first glance, but once you click on the tabs it explains that the limits are based on the initial account balance. So the more you pad the account, the greater the loss limist you have to work with.
  • #8,013
  • Edited Oct 18, 2021 1:28am Oct 17, 2021 11:02pm | Edited Oct 18, 2021 1:28am
Quoting 4xNewGuy
{quote} I'm not from FTMO, but go to their main page on their website. Hover the cursor over How It Works, then click on Trading Objectives. If you click on both the Maximum Daily Loss, and Maximum Loss tabs, you'll see that those are set to the initial account balance. So if you go up say $5000 on a $100k challenge. Your new max daily loss limit is $10k, and the max account loss limit is $15k. The loss limits are not trailing, they are fixed. I know it seems like it at first glance, but once you click on the tabs it explains that the limits are...
-I understand how it works very clearly. What I am asking for is a maximum (non-daily, non-trailing) draw-down. The way that FTMO has things set up, is, you are forced to stick to a maximum daily draw-down that resets everyday. What I am proposing is different. I will explain:

FTMO: Start with 100K balance. You accumulate 3K profit in one day. Your new daily draw-down is 8K (original 5%, +3K). The next day, however, your daily draw-down is back to 5K. You can only pad the account for the day. The next day, everything resets and you do not get to benefit from your progress. That risk of losing your account is always following you and staring you in the face.

Suggestion: Start with 100K balance. You accumulate 3K profit in one day. Your new draw-down is 8K. The next day, your draw-down is still 8K. Maybe you make another 20K profit over the next two weeks, now your draw-down is 28K. You can continue to pad the account and increase your draw-down protection significantly as you accumulate more profits on the account throughout the weeks or the months etc..

Blue Edge is set up this way, however, I suspect that they may be a white label of Traders Central, and that is disconcerting because TC has a risk assessment team that can cut you loose for any arbitrary reason that they deem does not correlate with their trading guidelines. I do not know with 100% certainty if they are associated with TC or not, but that is my suspicion.

So, I am proposing FTMO offers this as a new program for traders, as it could significantly help a lot of traders. I am also suggesting that they incorporate a rapid scaling program similar to Blue Edge, since there is no added risk for them to do so as long as they structure it properly.
  • #8,014
  • Oct 18, 2021 2:17am Oct 18, 2021 2:17am
Quoting Nsak3y
{quote}What I am asking for is a maximum (non-daily, non-trailing) draw-down.
I'm afraid this would considerably increase the accounts volatility which would be very unfavorable for the company investors' capital protection. And the investors are not after the maximum profit but rather minimum loss and volatility. So this change is not likely to be adopted, but let's wait for the FTMO's official response

Quoting Nsak3y
{quote}Blue Edge is set up this way, however, I suspect that they may be a white label of Traders Central, and that is disconcerting because TC has a risk assessment team that can cut you loose for any arbitrary reason that they deem does not correlate with their trading guidelines. I do not know with 100% certainty if they are associated with TC or not, but that is my suspicion. So, I am proposing FTMO offers this as a new program for traders, as it could significantly help a lot of traders. I am also suggesting that they incorporate a rapid scaling...
And that's the point. The way TC (and possibly Blue Edge) operates is different to FTMO. They have a different model. They might let you cumulate your DD buffer on one hand but will reserve their right to close your account whenever their risk department decides so on the other. I had a discussion with the TC's CEO some time ago, and I came to a conclusion they would never release exact rules under which they may close your account. It stays up to their will and you as a trader never really know when this may come. And when it does it is too late. And I'd never accept that. Under these circumstances, any option to cumulate the DD limit becomes worthless. I hope FTMO would never implement such a process
Money is made by sitting, not trading
  • #8,015
  • Oct 18, 2021 3:02am Oct 18, 2021 3:02am
Quoting Vitore
I'm afraid this would considerably increase the accounts volatility
-To be fair, you are assuming that it would. Not all traders would trade recklessly just because they can. If given the choice of a thicker bullet proof vest, would you still opt for the thinner one, just because you believe that it is sufficient? For that matter, would you be more careless if you knew that you were more protected? The analogy is extreme, but the idea is the same.

Quoting Vitore
would be very unfavorable for the company investors' capital protection.
-Not if it was structured properly. FTMO could simply withdraw their profits however often they saw fit to ensure that they are not missing out on profits. And one could argue that the investor's capital is even more protected with greater draw-down protection.

Quoting Vitore
The way TC (and possibly Blue Edge) operates is different to FTMO. They have a different model. ... And I'd never accept that. Under these circumstances, any option to cumulate the DD limit becomes worthless. I hope FTMO would never implement such a process
-To be clear, I am not at all suggesting that FTMO adopts the same policy as TC. I am asking that they consider a program that offers the overall draw-down and rapid scaling without the burden of TC-related shenanigans.

Please understand, I am not asking that FTMO change their current offerings, but simply, that they consider providing a new type of program for traders that wish to have this kind of structure. So those that do not agree with it or want it, would not be affected by it anyway.
  • #8,016
  • Oct 18, 2021 3:54am Oct 18, 2021 3:54am
Quoting Nsak3y
{quote}Not all traders would trade recklessly just because they can.
my view is yes they would

Quoting Nsak3y
{quote}And one could argue that the investor's capital is even more protected with greater draw-down protection.
possibly, but I doubt investors themselves would believe that

Quoting Nsak3y
{quote}Please understand, I am not asking that FTMO change their current offerings, but simply, that they consider providing a new type of program for traders that wish to have this kind of structure. So those that do not agree with it or want it, would not be affected by it anyway.
I do understand. But even if it is a separate program, it still impacts the overall FTMO model (part of which the new program would become) and their investors' capital

But the only thing that matters is how FTMO/their investors actually see that
Money is made by sitting, not trading
  • #8,017
  • Oct 18, 2021 4:26am Oct 18, 2021 4:26am
Quoting Vitore
But even if it is a separate program, it still impacts the overall FTMO model
-You do not know that. All you have done is provide negative opinions and speculation/assumptions. I am advocating for positive change. Maybe you disagree, and that is fine, but I am not interested in your cynicism.

Quoting Vitore
But the only thing that matters is how FTMO/their investors actually see that
-Right, which is why I am here making my suggestions to FTMO and not to you. Thanks.
  • #8,018
  • Edited 7:37am Oct 18, 2021 7:16am | Edited 7:37am
Just saw the announcement regarding crypto withdrawals. Good Job Lads.

Haven't read in-depth into it but i hope traders would be able to withdraw using stable coins like USDT as well.
  • #8,019
  • Oct 18, 2021 7:41am Oct 18, 2021 7:41am
Quoting Koop
Just saw the announcement regarding crypto withdrawals. Good Job Lads. Haven't read in-depth into it but i hope traders would be able to withdraw using stable coins like USDT as well.
Looks like you're in luck.

Attached Image (click to enlarge)
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Trade with confidence, trade without fear.
  • #8,020
  • Oct 18, 2021 8:03am Oct 18, 2021 8:03am
Quoting Nsak3y
{quote}-You do not know that. All you have done is provide negative opinions and speculation/assumptions. I am advocating for positive change. Maybe you disagree, and that is fine, but I am not interested in your cynicism.
I'm not being cynical at all, you misunderstood. I provided my very own experience with many kids trying to get rich quick trading for the prop firms. If you see it as "negative opinions and speculation/assumptions" then ok, it's your right to see it this way. Don't be surprised when you reveal the truth
Money is made by sitting, not trading
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