Just wanted to update you guys. Unfortunately, it's been a bit over a month now and I have yet to be reached out to by FTMO as they've expressed on this message board to come to a resolution.
hi, traders who is the quote provider for FTMO on forex and cryptocurrency?
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They won't reveal that these days...pretty sure they used to allow the trader to choose a brokerage from which to base their trading on, from LMAX to FXCM, but these days it is a big secret.
....but going by the MASSIVELY widening spreads over the close, making many pairs totally untradeable, I would hazard a guess and say it was OANDA.
{quote} They won't reveal that these days...pretty sure they used to allow the trader to choose a brokerage from which to base their trading on, from LMAX to FXCM, but these days it is a big secret. ....but going by the MASSIVELY widening spreads over the close, making many pairs totally untradeable, I would hazard a guess and say it was OANDA.
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That is forex. That is the close. Screenshot me a broker at close with normal spreads.
Hello everyone,
Welcome to the new year of 2022 traders, here we come with the first FTMO Update of the year. I hope all of you took the advantage of the market breaks to spend some time with your family and in conclusion, had a great time during the festive period. Nonetheless, let’s come back to our regular updates, starting with the platforms as usual:
Due to scheduled maintenance on our platforms, on Saturday, 8 January 2022, trading will be halted from 00:05 am to 05:00 pm platform time on MetaTrader (GMT+2 / CET+1 on cTrader). Kindly manage your trades accordingly.
As we’re entering a new year, I think this makes a perfect opportunity to sum up all the significant changes and improvements we’ve managed to reach in 2021:
January: Discontinuation of FTMO Accounts provided by other brokers
February: Announcement of the $200,000 FTMO Challenge + Max capital allocation increased to $400,000
March: FTMO Mobile App launched
April: Minimum 10 trading days requirement removed from FTMO Accounts
July: Complete redesign of our website and the Client Area; Free Trials for all account sizes and MT5; Leaderboard of the top FTMO Accounts introduced; Swing account type introduced; ftmo.com now available in Vietnamese
August: Payments via crypto introduced; ftmo.com now available in French
September: New account currencies - AUD, CAD, CHF; Default Profit Split increased to 80/20; Payouts-on-demand introduced; Scaling Plan updated including the 90/10 Profit Split and the total cap of $2 million; FTMO featured in Forbes magazine
October: Payouts now available in crypto
November: FTMO Wins Deloitte’s Fast 50 Award for the fastest growing tech company in central Europe
December: FTMO Christmas 10+10 offer
Also, let me borrow a few stats for 2021 from our latest article that you may find interesting:
960,000 accounts were created for our traders.
Over 88,000,000 trades were executed.
47 Articles written
3,087,076 views on YouTube
$29,000,000 paid out to FTMO Traders.
And that’s it for today’s update! The plans for 2022 are, of course, even more exciting, and I’ll be happy to gradually share their development here. For now, let’s move to your recent posts:
hi fellow friend. just dropping by to say huge thanks to FTMO for the life changing opportunity... i have been around the market since 2016. never been profitable. lots of negativity as well here in forex factory, people being doubtful if they can actually make it in the market. (i was among them,searching for the truth, if it is really worth the endeavor) Fast forward, i have taken 5 failed challenges + 1 passed challenge but failed it in verification. it was a wild ride. nw i manage 1 100k usd account with 3 hassle free profit split with FTMO....
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Hello Nawza, thank you for sharing your story, we always love to hear that our project managed to change someone’s approach to trading and helped to reach better results! I’m looking forward to a follow-up post in the future.
Just the started the an FTMO challenge. Using CTrader. The 'Swing Trader' option. Spread spikes over 'witching hour' 10pm-11pm London (after NY Close) GBPUSD 16 pips EURAUD 27 pips AUDUSD 10 pips CADJPY 12 pips. WTF? Seriously? These aren't exactly obscure exotic pairs. Is this right? If this was my broker, I would open an account somewhere else.... .....basically, even with a 'Swing' account, they wanting you to Day Trade?
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Hello MatDerKater, 10-11pm London is exactly the time of the rollover, and therefore the spreads get typically much wider for several minutes, the volatility increases and the liquidity is reduced. This is a typical market behavior which is pretty much identical among all brokers.
Is anyone else having issues with their metrix not updating regularly? Mine isn't updating at all. Thanks.
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Hello Forecks, cTrader accounts are currently not synced with MetriX. This is caused by the Spotware (cTrader developer) API bug and as we’ve been informed, the issue is being treated with the utmost priority. This situation is, unfortunately, completely out of our hands, so if you wish, your platform can be changed to MT4/MT5.
{quote} Appreciate the update and yes there were a few chargebacks as I stated before it was the only way for you guys to really take me seriously, but like my last statement, the charges were already dropped. However, I have yet to receive that email you initially said I'd get last week. I will definitely be looking out for your email this coming week.
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Hello SteveC, I spoke to my colleagues regarding your case, please check your mailbox.
Hello FTMO traders, I am currently doing FreeTrial on FTMO, so far so good but I am trying that Mentor App, downloaded as per guidance but on charts Can only see BLANK screen, Any ideas /suggestions please, How TO get working. Process I followed Set parameters on the website Downloaded files Can see in the Template but Blank screen Thank you {image}
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Hello Billiondream, please make sure that your FTMO MT4 is up to date. If you still see only a blank screen, there must have been an error during the installation process. You may try re-installing the platform and downloading the Mentor App again, alternatively please send me a message here and I’ll provide you with a step-by-step guide.
{quote} AUDUSD 10 pips EURAUD 27 pips GBPUSD 12 pips Really? I didn't just start trading yesterday. These kinds of spikes, are fkn obscene.....and those are exactly what I recorded on FTMO.
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So screenshot me 5:00 eastern spreads from a broker that has normal spreads. I didn't just start trading yesterday either.
{quote} There are widening spreads..... .....and then there are around ~ 15 pips on a fkn major pairing!
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I have another account with fxpro and their spreads are very similar at close of new York in fact sometimes they are far wider. Not really a problem if you know its coming. I don't know which broker pips29 uses but he always removes the stop loss at that time of day so it also must be similar.
{quote}I have another account with fxpro and their spreads are very similar at close of new York in fact sometimes they are far wider. Not really a problem if you know its coming. I don't know which broker pips29 uses but he always removes the stop loss at that time of day so it also must be similar.
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Ok...well....when Monday NY close comes, I shall post a few screens of Pepperstone....they widen. but 15 pips on the GBPUSD? 12 pips on the AUDUSD? No way.
{quote} Ok...well....when Monday NY close comes, I shall post a few screens of Pepperstone....they widen. but 15 pips on the GBPUSD? 12 pips on the AUDUSD? No way.
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You will NOT find a broker who closes on Friday 10pm with spreads of 1 or 2 pips on ANY Major pair .Get over it
It is called liquidity. Stop complaining about the spreads.
{quote} You will NOT find a broker who closes on Friday 10pm with spreads of 1 or 2 pips on ANY Major pair .Get over it It is called liquidity. Stop complaining about the spreads.
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Friday at 10pm isn't the problem.
Mon-Thurs 10pm-11pm IS the problem. A far better solution would be to just halt trading as with the cfd products...and if some wild card event happens in that small time window and the markets gap against you.....then that's a trader's life.
....and you think I made this post without KNOWINGspreads with other brokers over this time period, and being able to compare?
Yes they widen, by quite a bit....but GBPUSD to around 16 pips? Absolutely not in all my previous trading experience. I seen that Oanda spreads done this which was one reason I never funded my account with them.
As I said, I didn't just come to trading forex yesterday.
-Please do not suggest that. Spreads can and should always be improved upon. If everyone chose to say nothing, then FTMO (or any other firm) will never feel any pressure to improve.
That being said, it will be much easier to ask for better spreads during regular trading hours as opposed to at close.
Had a few stop-losses hit by the end of day spread widening when keeping positions opened over night (I'm not talking about over the weekend but between week days), because of those SL being within 20 pips of the day's closing price. Even if a "normal" thing to happen due to sudden liquidity dry out, I think FTMO could try to improve conditions for traders on that area, mostly because technically they aren't even placing trades at that time of day, nor has price actually "really" hit SL.
Solution is to temporarily widen/remove the SL but, of course, risk is uncontrolled and maximum drawdown could still be exceeded. So for me, as a general rule, if SL is too close to current price, I consider closing the trade and only keep it overnight if the SL is considerably further away.
{quote}-Please do not suggest that. Spreads can and should always be improved upon. If everyone chose to say nothing, then FTMO (or any other firm) will never feel any pressure to improve. That being said, it will be much easier to ask for better spreads during regular trading hours as opposed to at close.
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Some people just have a tendency to kiss the asses of who/whatever seems to be in charge. As though willing to take shit with a cheeky chirpy happy attitude makes them virtuous.
You don't get these spread spikes issues with CFD products. Cos they just stop trading between the US close and the Asian/Globex open. A similar thing should apply to FTMO traders. Market just stops trading during this low volume, low impact time. And if the market happens to gap up/down a bit on the reopen, then that's life......but the current arrangement, is a total ball ache.
{quote} Some people just have a tendency to kiss the asses of who/whatever seems to be in charge. As though willing to take shit with a cheeky chirpy happy attitude makes them virtuous. You don't get these spread spikes issues with CFD products. Cos they just stop trading between the US close and the Asian/Globex open. A similar thing should apply to FTMO traders. Market just stops trading during this low volume, low impact time. And if the market happens to gap up/down a bit on the reopen, then that's life......but the current arrangement, is a...
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Nobody is kissing anybody's ass. You basically answered your own complaint when stating nobody trades during this time. There is no liquidity, therefore the spreads widen. If I am in the market at this time, it would be a swing trade. If it's a swing trade, position is small enough to not be taken out by the rollover. If you are day trading larger positions, THERE IS NO WAY YOU SHOULD STILL BE IN AT ROLLOVER. Market has been dead for like 2 hours by that point. Really is a non issue. In spot forex, you will see this at EVERY SINGLE BROKER. Matter of fact, if you do not, YOU SHOULD BE CONCERNED, as they do not have any LP's on their feed. They are the market makers making their own price, therefore controlling the spread. Ironically, it is often at these brokers, you see the most widening.
{quote} Nobody is kissing anybody's ass. You basically answered your own complaint when stating nobody trades during this time.
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So why not allow for option to suspend orders SL orders during this time instead of traders running the high likelihood of getting stopped just due to utter b.s.
By 'swing trade', I hold trades 1-3 days.
I don't need to be dealing with 20-30 pip spread spikes.
{quote} So why not allow for option to suspend orders SL orders during this time instead of traders running the high likelihood of getting stopped just due to utter b.s. By 'swing trade', I hold trades 1-3 days. I don't need to be dealing with 20-30 pip spread spikes.
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One of my strategies is a swing trade strategy as well. I simply remove the SL. As I stated, swing trades have wider stops and wider targets, therefore position is significantly smaller than my day trades. Removing the stop temporarily for 60 minutes does not interfere with my risk model.
I have questions regarding expert advisor, I've been trying to get a clear answer but I've been struggling.
If I use a popular third party EA and pass the challenge, and go on to get funded, will i be able to continue using that same EA on a funded account without problems or restrictions as long as my total account/s is $400k or less ?
I have spoken to different customer representatives on the live chat who have been given me mixed information. I do not want to pay for a challenge then be told that the EA cannot be used on a funded account.
So can you confirm that as long as my total allocation is under $400k, that I can use the third party EA without limitations ?
Some questions ftmo-Vitek or others with knowledge:
I took a challenge 2 years ago and havn't taken one since; now Im working on a new challenge. Wanted to clarify somethings in case I have forgotten or if things have changed.
1. Once you pass the challange $ wise can you fulfill the trading days with minimal trade amount/trades to fulfill that aspect or is that against the terms and conditions?
2. Lets say 2 challenges go well: currently running a 50k challenge, and lets say I start up a 100k challenge and pass both. Can you merge both to a 150k traders account? (just enquiring because the 'odd' amount).
3. Once you pass a challenge and you get the new account for the verification can you let it sit idle for a bit or does it start up right away? (ie currently you can buy a challenge and have up to 6months to start).
4. Once you get a traders account are there any minimum days/trades that you need to do in a specified time? ie say you take a vacation or something are ftmo going to close your account? Or something I didnt quite understand from reading this thread (if say your account was not down the 10% but lets say you wernt making any money would ftmo close your account if you didnt make x in x period of time?
5. Just to make sure index trading are you restricted by any news events once you get a traders account, no 2min rule or what not? I usually trade the us30 us100 and may trade dax/ftse and often trade during news events. Are the restricted events just listed at the economic calendar on the ftmo site; example the week of the 13th of jan I only see oil having a restriction on the 12th is this correct? no other instruments were restricted?
