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FTMO - For serious traders

  • #8,121
  • Nov 12, 2021 12:38pm Nov 12, 2021 12:38pm
Hi traders,
I hope you all had a magnificent week and before we all take our time off for the weekend, let’s go through some of the recent FTMO updates as well as through your posts and queries.

Quick good news for trading platforms: on Saturday, 13th of November, crypto traders will get more room to operate in as the usual market break will be reduced to 8 AM to 10 AM platform time (GMT+2) for MetaTrader4 and MetaTrader5 platforms. On cTrader, the market break remains unchanged (8 AM – 2 PM GMT+2 as per the specifications).

When it comes to our current point of focus, we’ve been lately improving the efficiency of our back-office operations as well as developing the long-term projects that we will be able to announce in the following months.
Speaking of the use of our work time, I’ve realized that we have never properly addressed here our Blog in which we actually engage multiple colleagues as well as some of our traders. If you have spare time, you can go through our articles about e. g. Trading systems, Psychology, or regular written interviews with traders that passed our Evaluation Process.

Let’s switch on to your posts. I have noticed that many of you were pleased about Vitore receiving his FTMO Account, so let me join in and congratulate you too. Also, there are some details that I would like to add, so kindly find my responses below.


Quoting Nsak3y
{quote}-It is really good to hear that everything has been sorted. It further serves as a testament to FTMO's credibility and trust among traders. That being said, I sincerely hope that FTMO will use this experience as a driver to consider corrective efforts to ensure that this does not happen again. As a trader and business owner, I would not want to start my long-term partnership on this kind of bad footing. {quote}-Cheers. No sense in beating a dead horse at this point, so I will leave it be. Thanks, again, for taking time out of your day. Have...
Hello Nsak3y, thank you for your words of appreciation, however, I would like to point out that at no point have we stepped out of the usual common process. We have contacted Vitore with the description of the suspicious trading practices that may not be applicable in the real market with the amendment that we’re awaiting his response.
After a back and forth email communication and analysing Vitore’s trading approach, we have admitted & declared that we had not recorded any malicious intention and proceeded with processing the new FTMO Account.
The whole process was rather standard and may occur again in the future.

Quoting driven18
{quote} You did not give up. I can appreciate this. If you would of given up, you would of never gotten your account back. As we say in Russian,"Molodets". Good Luck to you.
Hello driven18, I appreciate your words of courage aimed at Vitore, but let me also emphasize that our decision is based solely on the internal email communication with the client and manual account analysis, not public callouts and open discussions on social media/forums. After all, as you can see, by the time I responded to Vitore last week, the case was already closed.

Quoting Omarbabaw
How do I enter this chart in mt4{image}
Hi Omarbabaw, the resolution of the attached screenshot is unfortunately insufficient. Could you please further elaborate your question?

Quoting Vitore
Hi Vitek, trading Gold now I noticed there're 4 months of data missing in the price history on cTrader, more specifically Oct 31, 2019 - Mar 2, 2020. Do you plan to fix it? It affects back testing and may also affect some indicators such as yearly-based pivot points or VWAP (I use both and they are both completely off because of this error in data). Btw. I'm thinking about how such thing would even be possible? Was trading of Gold with FTMO down for such a long time? Thank you!
Hello Vitore, I spoke to my colleagues responsible for the platform management and the historical data upload on cTrader has been queued. The reason behind the missing data is not a closure of trading on the particular instrument (gold has always been a very popular trading instrument, we could not afford to close it for 4 months). During the past, we have swapped/added in new liquidity providers (and re-uploaded the historical price data) several times, so I assume the gap is most likely related to that.
Also, I can see Koop has already responded to your second question, but nonetheless, I would like to confirm that the initial fee is being refunded along with your first Profit Split and it does not matter if your first few weeks or even months would not be profitable.
There is no minimum profit you’d need to score, although we usually can not process withdrawals below $20 as the fees most banks charge for international transactions would overtop the actual payout.

Quoting PaulMF
{quote} Hi Vitore, They reserve their right to do whatever they want, whenever they want: {image} Remember that they are unregulated and won't have to respond to any finance industry standards.
Hello PaulMF, this point is included in our T&Cs especially for cases unrelated to the actual trading activities (where we, on the other hand, are able to be exact).
We’re therefore talking about e. g. publicly harming the good name of our company, false reviews, threats towards our employees, etc. As I’m sure you understand, these activities can not be clearly described in our T&Cs one by one, hence we’ve added the mentioned clause 6.8.


Another, this time rather quick update is history. Thank you for your additions everybody, I have to admit that I was pleased with the positive energy a lot of you have expressed towards a new FTMO Trader.
I'll see you all next Friday, cheers!

-Vitek
  • #8,122
  • Nov 12, 2021 1:47pm Nov 12, 2021 1:47pm
Hi Vitek,

Quoting Vitek-ftmo
I have noticed that many of you were pleased about Vitore receiving his FTMO Account, so let me join in and congratulate you too.
Thank you!

Quoting Vitek-ftmo
I would like to point out that at no point have we stepped out of the usual common process. We have contacted Vitore with the description of the suspicious trading practices that may not be applicable in the real market with the amendment that we’re awaiting his response. After a back and forth email communication and analysing Vitore’s trading approach, we have admitted & declared that we had not recorded any malicious intention and proceeded with processing the new FTMO Account. The whole process was rather standard and may occur again in the...
As I stated here earlier as well, my case was resolved as a result of our email communication and FTMO's willingness to accept my arguments in those emails, rather than my post here. I wasn't aware of the 48 hours response SLA and wrongly assumed no one was taking care of my emails.
An automated email response might prevent similar issues from occurring in the future

Quoting Vitek-ftmo
Hello Vitore, I spoke to my colleagues responsible for the platform management and the historical data upload on cTrader has been queued. The reason behind the missing data is not a closure of trading on the particular instrument (gold has always been a very popular trading instrument, we could not afford to close it for 4 months). During the past, we have swapped/added in new liquidity providers (and re-uploaded the historical price data) several times, so I assume the gap is most likely related to that.
Quoting Vitek-ftmo
Also, I can see Koop has already responded to your second question, but nonetheless, I would like to confirm that the initial fee is being refunded along with your first Profit Split and it does not matter if your first few weeks or even months would not be profitable.
Excellent, thanks!

Have a great weekend all
Money is made by sitting, not trading
  • #8,123
  • Nov 12, 2021 2:00pm Nov 12, 2021 2:00pm
Quoting Vitek-ftmo
We have contacted Vitore with the description of the suspicious trading practices that may not be applicable in the real market with the amendment that we’re awaiting his response. After a back and forth email communication and analysing Vitore’s trading approach, we have admitted & declared that we had not recorded any malicious intention and proceeded with processing the new FTMO Account. The whole process was rather standard and may occur again in the future.
-I must be honest and say that this response seems pretty disappointing. Please correct me if I am wrong in what I am about to say.

There should not have been any reason for the back-and-forth. You should not need an explanation from the trader in order to discern applicable and acceptable trading; FTMO should be able to properly discern applicable and acceptable trading upon initial review, without any contact with the trader.

It is debatable whether or not a secondary review should even be necessary. The fact that FTMO's initial assessment and determination was wrong, is disconcerting. I find it even more disconcerting that FTMO contacted the trader and made false, presumptuous (and insulting) claims following their mistake.

Following all of this, FTMO elected to wait for a response from the trader prior to giving a secondary review, which resulted in frustration, confusion and delays. And you argue that this is standard and may occur again? Does this seem reasonable to you?

Does this not clearly indicate a need for more improvement? I think that my statement still stands, and that your argument that this is standard and may occur again does not seem reasonable or acceptable, I am sorry to say. Please correct me if I am misunderstanding something.
  • #8,124
  • Nov 12, 2021 2:51pm Nov 12, 2021 2:51pm
Quoting Nsak3y
{quote}-I must be honest and say that this response seems pretty disappointing. Please correct me if I am wrong in what I am about to say. There should not have been any reason for the back-and-forth. You should not need an explanation from the trader in order to discern applicable and acceptable trading; FTMO should be able to properly discern applicable and acceptable trading upon initial review, without any contact with the trader. It is debatable whether or not a secondary review should even be necessary. The fact that FTMO's initial assessment...
I'm a bit more permissive as it was a brand new symbol added to the portfolio so I assume someone just incorrectly configured a lot-based alert (I guess I traded as much as 1,000 lots. It can easy scare someone despite being equivalent to a mere 4.5 FX lots in USD volume as the DOT lot size is set a bit illogically)
But ideally, such mistakes should not happen
Money is made by sitting, not trading
  • #8,125
  • Nov 12, 2021 3:10pm Nov 12, 2021 3:10pm
Sure. I feel you. And I do not argue that at all. Mistakes happen. Time for adjustments and learning are sometimes needed. Absolutely.

The problem that I have is the response that was given to me regarding the point that I made about avoiding such issues in the future, and making whatever necessary changes to ensure of that. Because what I am being told is that these things are normal and could happen again, seemingly as if FTMO is fully justified in the way that they handled the situation, as if no changes or improvements need to be made.

And maybe people disagree with me or think that this is not my fight or any of my business, but as traders, we need to hold these prop firms accountable and to always be pushing for reasonable improvements, especially where such improvements are needed. I have praised FTMO on several occasions, and not just here on FF. I will likely continue to do so, so long as they continue to provide fair opportunities to traders. But I will also provide constructive criticism when needed, rather than to send the message to FTMO that we, as traders, are okay with this sort of thing.

Maybe it should also be noted that this is not a personal thing, but rather, an accountability and responsibility thing. Because if nothing is said, then we can expect that nothing will change.
  • #8,126
  • Nov 12, 2021 3:24pm Nov 12, 2021 3:24pm
Quoting Vitore
{quote} I'm a bit more permissive as it was a brand new symbol added to the portfolio so I assume someone just incorrectly configured a lot-based alert (I guess I traded as much as 1,000 lots. It can easy scare someone despite being equivalent to a mere 4.5 FX lots in USD volume as the DOT lot size is set a bit illogically) But ideally, such mistakes should not happen
if u didn t go all in and those lots were equivalent to 1 or max 2% then that shouldn t be an issue imo. and since it s a challenge they shouldn t be surprised that some might wing it.
  • #8,127
  • Nov 13, 2021 5:35am Nov 13, 2021 5:35am
{quote}Hi Dany, first off, you’re correct that if you would decide to keep all of your profits on your FTMO Account, then at the end of the 30 Trading Period, we would withdraw the 20% share out of your FTMO Account. The next month would therefore start with the balance of $108,000. If you would unfortunately exceed the Max Daily Loss of $5,000, all of your positions would be automatically closed, which means you would be left with $103,000. As we had already taken our 20% share at this point, you would be able to withdraw everything that would be left on the account, in this case, $3,000.

Hi Vitek,
Appreciate your efforts. Kindly re-check your post no. 8092 related to your answer to Dany and Roll-Over Reward and its calculations and confirm again, please.
Thanks,
Hany
  • #8,128
  • Edited 3:27pm Nov 14, 2021 2:58pm | Edited 3:27pm
Quoting pipmaster77
{quote} 5%ers $875 fee( Ithink it's actually closer to 1K now, as it looks like they had a price increase) for $800 in DD, need $1400 profit in stage 1 then they will 4x your allowable loss to $3200, then every stage after they 2X, profit targets are $8K, 16K, 32K and 64 K at the completion of all of this you will have scaled to the 1.28 million dollar "account" , still 4% DD, so $51,200 allowable loss. $800 in personal account would yield $361,044 at the end of those stages. To be fair, you will be paid $63,700 with your 50% split from the 5%ers,...
Hi Pipmaster

This is an interesting post, can I ask how you calculated from $800 to $361,044? In comparison to 5%ers. I.E what sort of compounding and risk variation on each account used, and time taken etc
Cheers
  • #8,129
  • Nov 14, 2021 7:08pm Nov 14, 2021 7:08pm
Quoting Paulscaff1
{quote} Hi Pipmaster This is an interesting post, can I ask how you calculated from $800 to $361,044? In comparison to 5%ers. I.E what sort of compounding and risk variation on each account used, and time taken etc Cheers
Sure, if you take the $875 fee you pay the 5%ers and put it into a personal account, your risk of ruin actually allows you to trade slightly larger positions in the personal account. The 5%ers gives you a risk of ruin of 4% ($800 on their 20K offering). I'll just use $800 vs. $800 for the example. You must make 7% of the 20K, which is 1400, bringing your personal account to $2200. They now give you 4X the account so DD of $3200. From this point you need to make 250% every level in order to scale double (4% to make 10%). Your $2200 becomes $7700 then $26,950 then 94,325 and finally $330,137. Meanwhile, the 5%ers have scaled you 3200 to 6400 to 12800 to 25600 to 51200. You know have a risk of ruin in personal account of 330K vs 51,200 with the 5%ers. (4% of 1.28 million). Meanwhile. with FTMO you pay $1250 for a challenge, fee is refunded once you pass and you have 20K in DD, complete 2 and you have 40K in DD. The point being the %ers gives you less risk of ruin for the fee you pay, while FTMO gives you 16X the loss for the fee.
  • #8,130
  • Nov 14, 2021 11:48pm Nov 14, 2021 11:48pm
Maybe this can help you pass your FTMO challenge

I created an indicator that is like none other on any market or forum, to help new traders see support and resistance.
Pro traders see supply and demand easily.
This indicator automatically generates each level based on carefully calculated ranges and time period.

They work on both MT4 and MT5. Find links to this product below.

https://www.mql5.com/en/market/product/73480 (MT5)

https://www.mql5.com/en/market/product/73481 (MT4)

I will appreciate a review.

For source code @ $1000 contact me on Telegram https://t.me/KingRennie

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  • #8,131
  • Edited 3:40am Nov 15, 2021 3:30am | Edited 3:40am
Quoting Renfred
Maybe this can help you pass your FTMO challenge I created an indicator that is like none other on any market or forum, to help new traders see support and resistance...I will appreciate a review.
Hmmm...like no other on any market or forum you say?
To me this is a standard S&D zone indicator, just pictured in one of the least convenient ways I've ever seen. And possibly even showing it incorrectly.
Forums are full of this type of indicators, and every developer selling trading stuff has this one in their portfolio.

Maybe you should rephrase your post or better remove it completely. No one will pay $150 for something which can be get for free, let alone the insane price of $1000 you charge for the source code.
Money is made by sitting, not trading
  • #8,132
  • Nov 15, 2021 7:34am Nov 15, 2021 7:34am
Quoting pipmaster77
{quote} Sure, if you take the $875 fee you pay the 5%ers and put it into a personal account, your risk of ruin actually allows you to trade slightly larger positions in the personal account. The 5%ers gives you a risk of ruin of 4% ($800 on their 20K offering). I'll just use $800 vs. $800 for the example. You must make 7% of the 20K, which is 1400, bringing your personal account to $2200. They now give you 4X the account so DD of $3200. From this point you need to make 250% every level in order to scale double (4% to make 10%). Your $2200 becomes...

Nice one mate, thanks for the detailed explanation.
  • #8,133
  • Nov 17, 2021 2:57pm Nov 17, 2021 2:57pm
I got scammed from Gyasifx , them take my money and give me a account and I trade per day over 5K Profit , then they realise the payout and them Block me . About Funding Talent you can read in the Internet .
But I thought to myself , FTMO I hear them payout bla bla bla...
Im now 1 month ftmo trader. I earn over 15K payout withdrawal , first I was thinking this is possible also a scam or fraud... How this can be possible , its too easy to be true... Fuck its real !!! Now my target is to get the highest payout them ever had next year Give yourself a try if you feel you are ready !!! Them really honest and helpful !!!
  • #8,134
  • Nov 19, 2021 10:48am Nov 19, 2021 10:48am
A question for Vitek

Will be there any promotion for the black friday?
  • #8,135
  • Nov 19, 2021 11:52am Nov 19, 2021 11:52am
Happy Friday traders,
I’m glad to welcome you all with a new ForexFactory update after another week. Let’s dig in and start with the trading updates:

Similar to last week, on Saturday, 20th November, the usual market break will be reduced to 8 AM – 10 AM platform time (GMT +2) for MetaTrader4 and MetaTrader5 platforms. On cTrader, the market break will remain unchanged (8 AM – 2 PM GMT+2 as per the specifications).

Due to the recent modifications to the composition of the DAX Index, starting from Monday, 22nd of November, the symbol GER30.cash will be set as Close Only and a new symbol GER40.cash will be available for trading on MetaTrader 4 and Metatrader 5. If you are using the cTrader platform instead, starting from Monday 22nd, the symbol GER30.cash will be automatically renamed as GER40.cash.

And finally, due to the US Thanksgiving day on Thursday, 25th of November, the trading hours for the affected symbols will be subject to changes on Thursday 25th and Friday 26th, as per the table below (time is expressed in platform time/GMT+2):
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During the past week, we’ve also launched a few minor updates to the Account MetriX (Balance curve, Trading Journal). We have also improved the availability of a few payment providers in several countries.
That should do it for the updates, let's now focus rather on your posts that appeared here during the week...


Quoting Vitore
Hi Vitek, {quote} Thank you! {quote} As I stated here earlier as well, my case was resolved as a result of our email communication and FTMO's willingness to accept my arguments in those emails, rather than my post here. I wasn't aware of the 48 hours response SLA and wrongly assumed no one was taking care of my emails. An automated email response might prevent similar issues from occurring in the future {quote} {quote} Excellent, thanks! Have a great weekend all
Hi Vitore, I’m glad the situation is now crystal clear as it portrayed a fine example of how important the communication between us and our traders is. Good luck with your FTMO Account, fingers crossed!

Quoting Nsak3y
{quote}-I must be honest and say that this response seems pretty disappointing. Please correct me if I am wrong in what I am about to say. There should not have been any reason for the back-and-forth. You should not need an explanation from the trader in order to discern applicable and acceptable trading; FTMO should be able to properly discern applicable and acceptable trading upon initial review, without any contact with the trader. It is debatable whether or not a secondary review should even be necessary. The fact that FTMO's initial assessment...
Hi Nsak3y, I’m sorry to hear that my response is disappointing and I do understand that the whole situation might seem a bit confusing at first. We simply need to prevent traders that purposely abuse our trading conditions from using the same approach on the FTMO Account as well. Clearly identifying such behavior is not always simple, therefore a second revision or exchanging a couple of words with the trader might be necessary at times. The point is we’re trying to be fair to everyone while remaining cautious about the possible risks.

Quoting hanyabd
{quote}Hi Dany, first off, you’re correct that if you would decide to keep all of your profits on your FTMO Account, then at the end of the 30 Trading Period, we would withdraw the 20% share out of your FTMO Account. The next month would therefore start with the balance of $108,000. If you would unfortunately exceed the Max Daily Loss of $5,000, all of your positions would be automatically closed, which means you would be left with $103,000. As we had already taken our 20% share at this point, you would be able to withdraw everything that would...
Hello hanyabd, I can only confirm my previous statement. If you decided to leave all your profits on your account and roll them over to the next Trading Period, we would deduct our 20% share. If you would then exceed the Max Daily Loss in the new Trading Period right away, you would be able to withdraw all of the remaining profits left on the account as we have already taken our 20% split during the rollover process.

Quoting Faditrader
I got scammed from Gyasifx , them take my money and give me a account and I trade per day over 5K Profit , then they realise the payout and them Block me . About Funding Talent you can read in the Internet . But I thought to myself , FTMO I hear them payout bla bla bla... Im now 1 month ftmo trader. I earn over 15K payout withdrawal , first I was thinking this is possible also a scam or fraud... How this can be possible , its too easy to be true... Fuck its real !!! Now my target is to get the highest payout them ever had next year Give yourself...
Hello Faditrader, first of all, let me congratulate you for reaching such impressive results, especially after your disappointing previous experience. But still, try not to get overly excited as emotions can easily disturb your trading plan and wipe out your good results. Stay focused and I hope we’ll hear from you about more incoming withdrawals soon.


And there we go, another rather short update is finished, so thank you for your attention everyone. The past week was quite calm as well, so I'm interested what topics to discuss will the following week bring. Enjoy your weekend traders!
Cheers, Vitek
  • #8,136
  • Nov 19, 2021 5:15pm Nov 19, 2021 5:15pm
Quoting Vitek-ftmo
I do understand that the whole situation might seem a bit confusing at first.
-Nice words.

Quoting Vitek-ftmo
Clearly identifying such behavior is not always simple, therefore a second revision or exchanging a couple of words with the trader might be necessary at times.
-Nothing verbal should be needed from the trader to identify trading that is problematic unless you suspect that your system has failed and you need confirmation from the trader to verify data, which would be a bigger issue by itself.

Quoting Vitek-ftmo
The point is we’re trying to be fair to everyone while remaining cautious about the possible risks.
-I know what your point is. And instead of properly addressing mine, you have elected to be condescending and dismissive, and you refuse to take ownership or admit of FTMO's mistakes. Maybe you are very used to dealing with morons.

I see little reason to advocate for positive change if this is how it will be received. Respectfully.
  • #8,137
  • Nov 20, 2021 12:06am Nov 20, 2021 12:06am
I was in a BTC trade yesterday (explained in the diagram) where the Bid line was stuck and wouldn't move at all for around 2 minutes, while the Ask price was moving up rapidly. I restarted my MT5 terminal multiple times while the spread was growing to almost 1000.00 (bid = 58785.00 and ask = 59785.00). After 2 minutes the Bid price moved up to the Ask and I got out for a huge profit. This is not normal spread behaviour at all. I've never seen this happen before. I went on live chat, but all they could tell me was the usual thing i.e., volatility causes large spreads to occur. But not like what happened on BTC that day. Did anyone else see this? What was the cause? What do I do in circumstances like this if they negatively impact me? I was too slow to screen record the event as I was in panic stage.

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  • #8,138
  • Nov 20, 2021 12:54am Nov 20, 2021 12:54am
Poor liquidity or volume. Not sure how FTMO is set up for crypto (or which exchanges are being used), but I would be pretty upset to see this on a 5-minute chart for BTC.
  • #8,139
  • Nov 20, 2021 11:42am Nov 20, 2021 11:42am
FTMO is under an avalanche of accusations in TrustPilot for hangs, data freezing and absurd roll over spikes and slippage, with the purpose of breaking funded traders accounts.
They should work on that and also find alternative sources of financing, otherwise people will think that they are simply clearing existing funded traders to make room for new ones because they can't afford many at the same time in their payroll. Of course, could not be true but gossip has it that funded traders depend on Challenge payments from new entrants. FTMO never clarified that matter properly.
Follow your guts, if you want to lose your money...
  • #8,140
  • Nov 21, 2021 12:26am Nov 21, 2021 12:26am
Quoting JotaP
FTMO is under an avalanche of accusations in TrustPilot for hangs, data freezing and absurd roll over spikes and slippage, with the purpose of breaking funded traders accounts. They should work on that and also find alternative sources of financing, otherwise people will think that they are simply clearing existing funded traders to make room for new ones because they can't afford many at the same time in their payroll. Of course, could not be true but gossip has it that funded traders depend on Challenge payments from new entrants. FTMO never clarified...
Indeed nearly lost my funded account due to this
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