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FTMO - For serious traders

  • #8,301
  • Dec 3, 2021 3:06pm Dec 3, 2021 3:06pm
Good Friday evening everyone,
I hope you’ve survived today’s NFP and perhaps even used it in your favour, the new FTMO Friday update is here.

Today I have just one quick announcement to share, and that is the scheduled maintenance that will take place on Saturday, 4th of December. Trading will be disabled on all platforms from 8 AM to 4 PM (GMT+2, MT4/5 server time), corresponding to 7 AM – 3 PM CET time. Kindly manage your trades accordingly.

Also, I would like to address one less pleasant topic, and that is the recent connection issues occurring on MetaTrader 5 platform.
We have recorded a few instances on which the platform kept disconnecting and reconnecting to the server for a few minutes. We are well aware of the issue and we are treating it with the utmost priority. I will be updating you on the situation in the following updates.
For now, let’s focus on your recent posts...


Quoting Tradelevels
{quote} With due respect there is nothing to do with psychology when it comes to prop firms, As their bogus claim of funding is nothing but a fraud model. Let me ask you sir, let say you are an investor and you want someone to trade your money, will you ask them to pay you? The fraud model got exposed here it self, why not give a trial not 1 month take 2 months provide free demo and let user prove their credibility without paying anything and if found good trader then give them a funds, simple as 1,2,3.
Hi Traderlevels, although I do understand that especially people who are just getting familiar with the proprietary trading business might perhaps be cautious and even suspicious at first, I believe using terms such as “fraud model” is completely unnecessary.
The short block of text from your website, unfortunately, includes numerous spurious and false statements (“99% of prop companies are a scam” etc.) and last but not least, promoting your website violates the code of conduct, which is presumably the reason why your membership got revoked.

Quoting ChilledT
Lots of negativity on this thread of late. People asking where all the funded traders are. Well, maybe they are busy trading and not wasting their time reading all the negative posts on here... If you can trade, give the challenge a go. If you don't want to, then don't. It's simple. I've been with FTMO for over a year and they do exactly as they say. Withdrawals are fast and straightforward, support is excellent. That's it really. Just wanted to say we are out here, trading and making money through FTMO. All the best :-)
Hi ChilledT, even though I agree that the irrelevant posts that appear here lately may have diluted the informativeness of the thread, I believe that it does not stop other users from regularly checking for the news. Glad to hear everything’s fine on your end!

Quoting Gobigfx
This is my 3rd challenge account where I could NOT get out of trades because their platform MT5 kept freezing. All-day long again today
Hello Gobigfx, I’m sorry to hear you’ve experienced issues with the MT5 platform. Please contact us at [email protected] and make sure to attach your log file (MT5: File - Open Data Folder - logs) so we can investigate the issue and compensate for the possible losses. Again, I believe that we have proved our credibility over the years and there’s no reason to call us a “scam”. The mentioned screen recording would be helpful as well.

Quoting Faditrader
This was payout first month , then i get too greedy and my next payout tomorrow is only 6K (Every 2 weeks payout). Them pay and them are the best !!! {image}
Hi Faditrader, thank you for sharing your truly impressive results! I’m glad you’re overall satisfied with our services and I think that the following $6,000 payout is something you can be proud of.

Quoting Tradeorbust
{quote} Congratulations on your success, I didn't know FTMO paid bi-weekly. I definitely got to do a challenge now.
Hi Tradeorbust, after 14 days from your first trade on your FTMO Account, you can choose the Profit Split Day. Of course, you can choose right the following day, but if you’d like to trade some more before withdrawing your profits, you can choose any other available date. The Profit Split Day can be changed up to 3 times for each withdrawal, anytime between 14 days and 60 days from the start of trading.

Quoting SteveC
{quote} I actually stumbled upon this site when looking for others who may have encountered the same issues. I've got to verification multiple times with FTMO to have MT5 freeze on me. Not only that, but there were times where it would hit my SL, but keep remaining open not allowing me to close out manually. I reached out to support multiple times to be told there was no problem. I gave them the benefit of the doubt and did another challenge for it to happen again..live chat finally admitted the issue and told me to email support who again denies...
Hello SteveC, thank you for sharing your part, and I’m sorry to hear you’ve experienced any issues with the platform. Would you mind sending me your Verification login number via private message? I would like to check your case and see what exactly happened there, thank you.


And that's all I have to say for today, another rather short update is history. Have a peaceful weekend everyone, I'll have more to tell the next Friday.
Cheers,
-Vitek
  • #8,302
  • Dec 3, 2021 5:08pm Dec 3, 2021 5:08pm
Quoting leosfx
{quote}{quote}{quote} {quote}{quote} Hello everyone. I believe that this whole discussion was needlessly blown out of proportion. No need for any accusations both sides, no need for proof. No offense. I can confirm mt5 freezes often. I, myself, had 5 platforms going every time it happened and only FTMO's broke... But most importantly, FTMO acknowledges their mt5 freezes, and are working on it apparently. But this issue has existed for a long time so I do not know how hard they really are trying to fix it. In my experience, they apologized and offered...

The problem is intermittent meaning that you NEVER know when it will freeze its literally like playing roulette
  • #8,303
  • Edited 6:01pm Dec 3, 2021 5:21pm | Edited 6:01pm
OK so let me sum up why you want to stay away from FTMO or any other challenge company for that matter!

I will say that FTMO is the best of all of them however they FAIL to realize and take responsibility for their flaws and all they need to do to solve the problem is give a new challenge account to anyone that has a legitimate problem like freezing.

The problem is they don't that's why they are a scam!

What they do is they look at the tickets of the trades that happen during freezes and they credit you back those tickets BUT that is not good enough because what they are not accounting for is the fact that when the platform freezes you are in a panic to close out trades because you don't know for how long the platform will be frozen for (in one case it was hours) so your trade management goes out the window.

When I go to the store and buy a carton of milk and I pour a glass and the milk is sour the store gives me a NEW carton of milk they don't give me a glass of milk back. !!!

Several of the trades I was in (when the platform froze) I had to close the trades quickly and they ended up working and would have made a lot of money and I would have passed the challenge!!!

So basically if you are close to passing a challenge they can just randomly freeze the platforms at their will and you might have passed but now you are not able to pass because you were forced to close trades and mismanage your trades.





So in summary, if the company wants to NOT be a scam they have the responsibility to give you a whole new challenge account if you request it and you are not breaking any other rules.

Until they do this company remains in my eyes a SCAM because they are not taking full responsibility they are just putting a band-aid on a BIG problem.



FTMO if you are listening you need to give people that request it (and have not broken any other rules) NEW Challenge accounts if they ask for it.
  • #8,304
  • Dec 3, 2021 6:11pm Dec 3, 2021 6:11pm
Another big issue with FTMO that needs to be addressed are spreads.

Here is a picture of FTMO spreads vs the real NYSE spreads.

FTMO is about a 51 cent spread vs the real market that is about 8 cents that's a CRAZY rip-off.
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  • #8,305
  • Edited 11:31pm Dec 3, 2021 11:18pm | Edited 11:31pm
Quoting Gobigfx
Another big issue with FTMO that needs to be addressed are spreads. Here is a picture of FTMO spreads vs the real NYSE spreads. FTMO is about a 51 cent spread vs the real market that is about 8 cents that's a CRAZY rip-off. {image}
where's the comparison chart?
You just copy/pasted over top of a chart that doesn't even show what time of day it is. The time of day at the bottom of the chart was "conveniently" cut off, because it was likely the end/beginning of the day when liquidity was low. Which is very common in every market out there.
  • #8,306
  • Dec 4, 2021 7:26am Dec 4, 2021 7:26am
Quoting Gobigfx
OK so let me sum up why you want to stay away from FTMO or any other challenge company for that matter! I will say that FTMO is the best of all of them however they FAIL to realize and take responsibility for their flaws and all they need to do to solve the problem is give a new challenge account to anyone that has a legitimate problem like freezing. The problem is they don't that's why they are a scam! What they do is they look at the tickets of the trades that happen during freezes and they credit you back those tickets BUT that is not good enough...
"Don't compensate me for the affected trades, No!, instead give me a fresh account which would not only make up for the affected trades but also wipe away all my other unrelated losses and restore my balance to the original amount from whatever DD i may have been suffering on the other account"
"If You don't do this ONE thing, then you're a scam".

Sounds an awful lot like cheap blackmail.

Of what use is a fresh account if the freezes keep happening? So they're not a scam if the freezes keep happening so long as they provide fresh accounts to every one who complains?
Ridiculous.
This has happened to you on 3 different challenges, yet you're still here trying again and only just realized they are a scam? Apparently they only want to scam traders who choose to trade with MT5? maybe like 15% of their customer base?
Interesting.
  • #8,307
  • Dec 4, 2021 9:17am Dec 4, 2021 9:17am
Quoting Koop
{quote} "Don't compensate me for the affected trades, No!, instead give me a fresh account which would not only make up for the affected trades but also wipe away all my other unrelated losses and restore my balance to the original amount from whatever DD i may have been suffering on the other account" "If You don't do this ONE thing, then you're a scam". Sounds an awful lot like cheap blackmail. Of what use is a fresh account if the freezes keep happening? So they're not a scam if the freezes keep happening so long as they provide fresh accounts...
To me a much better solution would be....DON'T USE MT5 with FTMO. I mea I get it, they offer it, it should work. I think the platform sucks anyway. I guess I'm such a basic, manual trader, I'm not even aware of what they improved over MT4. I know when I (still can't believe I did this) took a 5%ers eval, I was forced to use MT5 and I hated it.
  • #8,308
  • Dec 4, 2021 9:26am Dec 4, 2021 9:26am
Quoting pipmaster77
{quote} To me a much better solution would be....DON'T USE MT5 with FTMO. I mea I get it, they offer it, it should work. I think the platform sucks anyway. I guess I'm such a basic, manual trader, I'm not even aware of what they improved over MT4. I know when I (still can't believe I did this) took a 5%ers eval, I was forced to use MT5 and I hated it.
On their side, easy solution would be offer to move anyone to MT4 or ctrader when they are being contacted about this issue. Easy fix for all IMO.
  • #8,309
  • Dec 4, 2021 9:48am Dec 4, 2021 9:48am
MT4 and MT5 both have their pros/cons, but being limited to one or the other is nothing that a good trade copier cannot solve.

Not to say that FTMO should not be more accommodating to those that are experiencing issues, though, especially if they are taking a while to resolve the problem.
  • #8,310
  • Dec 4, 2021 9:55am Dec 4, 2021 9:55am
Quoting pipmaster77
{quote} To me a much better solution would be....DON'T USE MT5 with FTMO. I mea I get it, they offer it, it should work. I think the platform sucks anyway. I guess I'm such a basic, manual trader, I'm not even aware of what they improved over MT4. I know when I (still can't believe I did this) took a 5%ers eval, I was forced to use MT5 and I hated it.
Can't blame people who choose MT5 with FTMO ..... if they offer it then they should optimize it to work as great as possible.
I think it's a terrible platform too.. The mobile app is even worse.
May be it's better for coders or something, i have no idea why anyone chooses it over MT4 though.
  • #8,311
  • Dec 4, 2021 10:01am Dec 4, 2021 10:01am
Quoting Koop
{quote} Can't blame people who choose MT5 with FTMO ..... if they offer it then they should optimize it to work as great as possible. I think it's a terrible platform too.. The mobile app is even worse. May be it's better for coders or something, i have no idea why anyone chooses it over MT4 though.
Yes, I agree, it it's offered, it should work. However, me personally, after 1-2 "isolated" incidents, for my own good, I would switch platforms. I absolutely agree, whether it be a challenge or live, trading is hard enough, without worrying about your platform freezing and not being able to enter/exit trades. Actually, the part where trader is asking for a backup platform, would be a great idea. I don't believe they could switch platforms on the fly though every time MT5 has an issue, but I'm not an IT guy.
  • #8,312
  • Dec 4, 2021 10:18am Dec 4, 2021 10:18am
Quoting 4xNewGuy
{quote} where's the comparison chart? You just copy/pasted over top of a chart that doesn't even show what time of day it is. The time of day at the bottom of the chart was "conveniently" cut off, because it was likely the end/beginning of the day when liquidity was low. Which is very common in every market out there.
It was 2 o'clock in the afternoon you NUMPTY do you think I have nothing better to do with my time then waste it here
  • #8,313
  • Dec 4, 2021 6:33pm Dec 4, 2021 6:33pm
Quoting Gobigfx
do you think I have nothing better to do with my time then waste it here
Certainly looks that way.
  • #8,314
  • Dec 5, 2021 10:21am Dec 5, 2021 10:21am
Hello,
we are on the way for battle..
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  • #8,315
  • Dec 5, 2021 11:07am Dec 5, 2021 11:07am
hundreds or maybe thousands of positions with huge drawdown that ended up in profit, this explains the 99% win rate and all the other parameters, i doubt this strategy would work in the long run, $300 left to break daily loss rule
  • #8,316
  • Dec 5, 2021 11:32am Dec 5, 2021 11:32am
Quoting darshana1991
Hello, we are on the way for battle.. {image} {image} {image}
No battle, the martingale robot shall blow your funded account soon. Please, keep us posted on that.
Follow your guts, if you want to lose your money...
  • #8,317
  • Dec 5, 2021 3:41pm Dec 5, 2021 3:41pm
time to dial the risk waaaay back...
trade to trade another day.
  • #8,318
  • Dec 5, 2021 3:58pm Dec 5, 2021 3:58pm
Quoting Rayder4Life
hundreds or maybe thousands of positions with huge drawdown that ended up in profit, this explains the 99% win rate and all the other parameters, i doubt this strategy would work in the long run, $300 left to break daily loss rule
-Yes. Also likely why it is a swing account, yet with thousands of trades. Newbies will see his results and private message him for a price. Doesn't matter to me, though, because without losers, there cannot be winners.
  • #8,319
  • Dec 5, 2021 5:28pm Dec 5, 2021 5:28pm
Quoting Rayder4Life
hundreds or maybe thousands of positions with huge drawdown that ended up in profit, this explains the 99% win rate and all the other parameters, i doubt this strategy would work in the long run, $300 left to break daily loss rule
I'm a master of this strategy for a long time.. you can see my profile for more details, I have posted more trading videos on my profile.
here the other one is running...

Quoting JotaP
{quote} No battle, the martingale robot shall blow your funded account soon. Please, keep us posted on that.
there is no martingale or robot. all are manual trading. please go to the following link to see my strategy.
https://www.forexfactory.com/thread/...calping-method

Quoting Nsak3y
{quote}-Yes. Also likely why it is a swing account, yet with thousands of trades. Newbies will see his results and private message him for a price. Doesn't matter to me, though, because without losers, there cannot be winners.
I need to hold my positions on weekends and news time too.. that's why I selected swing type. now 4 accounts are in the verification process. In a 200K account, I faced a huge unexpected market breakdown, but finally, I could manage all.
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  • #8,320
  • Dec 6, 2021 2:52am Dec 6, 2021 2:52am
Quoting darshana1991
I need to hold my positions on weekends
-Not if you're scalping (which is what you are doing). The only way that you are trading this much without using an EA is if you are stacking your trades. You will eventually fail without a super-solid risk-management plan. Judging by the looks of your win rate, I suspect that you do not have one. But maybe you can fool newbies into buying whatever you are selling. Go for it.
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