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$1,000,000.00 and Beyond ft. FTMO 28 replies

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Attachments: FTMO - For serious traders
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FTMO - For serious traders

Quoting djxput
{quote} Im starting to think a swing account may be better - I thought I might use the margin so had been going for the regular ftmo account but I rarely have found myself above the 30% margin rate (I wonder if you use a swing account and try to put an order in for over the 30% if it wont let you or they will consider that a breech of contract?) (maybe FTMO- Vitek could answer this). At least you wouldnt have to worry about holding over the weekend or could even hold stocks over nite and trade news if you so chose.
I swtched to a swing account a while ago and much prefer it. Although I rarely hold over the weekend, it's so much less stress to not have to close trades before news.
Quoting Gobigfx
{quote} I believe that is another reason FTMO is a scam. If you check their Trust pilot ratings they have a 4 out of 5 and if you read them 90% of them are FAKE. This company is just a bully and is paying people to give fake ratings and post in forums like this. EVENTUALLY, ANYONE TAKING THIS CHALLANGE WILL FAIL WITHIN 3 MONTHS EVEN IF THEY PASS. I HIGHLY ENCOURAGE YOU TO COME BACK IN HERE AND POST TO HELP PEOPLE STOP LOSING MONEY TO THIS COMPANY
1. Go back and read my posting history (if you can be bothered) and youll see that Ive lasted waaaaaayyyyyy longer than your arbitrarily derived 3 months
2. Im not sure if youre a native English speaker or not, but you continue to misuse the word "scam". Im not sure you fully understand its meaning
3. Im not clear what purpose your posts serve. If its to "warn" people, then surely youve done that now and can move onto a different thread/forum focusing on the things you think are good?
4. Live and let live is a good principle to live by
I just have to ask Vitek a couple of quick questions. I'm planning on taking on a challenge before the end of the month. If/when I pass and get funded, I understand I am allowed to take on additional challenges to gain additional accounts. What is the maximum amount of money (in canadian dollars) that I am allowed to manage, and would I be able to merge the multiple accounts into one account just for the sake of making all of the trades easier to track since they will just be on the one account?
Hello traders,
it’s another Friday and I’m glad to be back to share the news and respond to your questions. It’s the first Friday of the month as well so we just went through NFP. Earnings exceeded the expectations and especially USD/JPY, USD/CAD, and USD/CHF offered a good chance to grab several pips. I hope you all finished the trading week successfully and let’s take a look at what’s going to happen during the weekend:

We have scheduled maintenance on all our platforms that is going to take the place on Saturday, 05 February 2022. Trading will be halted for the entire day, from 00:05 am to 11:55 pm platform time (GMT+2/CET+1). Therefore, kindly manage your trades accordingly, considering also the platform-specific standard trading hours during weekends.

Among the long-term development of new apps and features (more on that soon), we have also added another minor update to the Account MetriX: the balance curve now also includes the close time of each trade so it’s easier to navigate through.

Finally, I’d also like to share that FTMO has moved to completely new offices! It is quite a milestone in our history and I’m sure you’ll see more on our social media within the following weeks.

That’s it for the quick update part, let’s move to Q&A:


Quoting Isabella_D
If the company (FTMO) is not concerned by bad trading practices what I have to concider? - more capital is desirable - more leverage too - better MM ok - main rule But what about News: Red news only? Did I read this correctly: trades are forbidden + - 3 minutes arround the event only? Better to take a swing account? Please responds from real traders FTMO edit: I found FAQ have been revised now, all is clear.
Hi Isabella_D, I’m glad you managed to find the response in our FAQ (they are quite extensive, so most of your potential questions are already answered there).

Quoting Liza J
I want a swing account in FTMO... Can I scalp targeting 10 to 20 pips, day trade and at the same time hold trades overnight and over the weekend on a Swing Account? Does FTMO allowed it? Or they are strict and won't allow scalping and day trading on a swing account? I need clear answer for this... because I do all types of trading in one account. I need clarification on this before I purchase my account. Thanks for anyone who reply in advance!
Hello Liza J, 4xNewGuy gave you a very good and accurate response! We have no limits on your trading style, you can both scalp and swing trade at the same time. The Swing account type allows you to hold your positions overnight/over the weekend even on the FTMO Account stage, you can also trade during all the news announcements, however, the leverage is reduced to 1:30 (which should not represent an issue for most traders).

Quoting djxput
{quote} Im starting to think a swing account may be better - I thought I might use the margin so had been going for the regular ftmo account but I rarely have found myself above the 30% margin rate (I wonder if you use a swing account and try to put an order in for over the 30% if it wont let you or they will consider that a breech of contract?) (maybe FTMO- Vitek could answer this). At least you wouldnt have to worry about holding over the weekend or could even hold stocks over nite and trade news if you so chose.
Hi Djxput, I can see why a lot of traders pick rather the Swing account type. If you do not plan use really high volumes, it brings only advantages compared to the normal account type. And for the margin rate - the base leverage of the Swing account is set to 1:30, you would simply get the “not enough money” error in your trading platform.

Quoting Gobigfx
{quote} I believe that is another reason FTMO is a scam. If you check their Trust pilot ratings they have a 4 out of 5 and if you read them 90% of them are FAKE. This company is just a bully and is paying people to give fake ratings and post in forums like this. EVENTUALLY, ANYONE TAKING THIS CHALLANGE WILL FAIL WITHIN 3 MONTHS EVEN IF THEY PASS. I HIGHLY ENCOURAGE YOU TO COME BACK IN HERE AND POST TO HELP PEOPLE STOP LOSING MONEY TO THIS COMPANY
Hi Gobigfx, we do not pay anyone to leave any positive reviews anywhere. All of the reviews you see are coming from our current or past traders. As I was mentioning in previous Friday update, we just reviewed one of our FTMO Traders who has been trading with us for over half a year.

Quoting 4xNewGuy
I just have to ask Vitek a couple of quick questions. I'm planning on taking on a challenge before the end of the month. If/when I pass and get funded, I understand I am allowed to take on additional challenges to gain additional accounts. What is the maximum amount of money (in canadian dollars) that I am allowed to manage, and would I be able to merge the multiple accounts into one account just for the sake of making all of the trades easier to track since they will just be on the one account?
Hi 4xNewGuy, the maximum capital allocation we allow on FTMO Accounts is 400,000 USD (480,000 CAD) per trader/strategy (with the Scaling Plan, you can actually get to $2 million if you prove your profitability over several years).
And yes, your FTMO Accounts can be, of course, merged together under the following conditions:

  1. The FTMO Account is not in drawdown.
  2. There is no profit due for the 80/20 Profit Split.
  3. All accounts to be merged have the same risk setup.
  4. All accounts to be merged are in the same base currency.



And once we find ourselves at the end of the update. As always, I'm grateful for your attention and have a lovely weekend everyone!
Signing off, Vitek

You are wonderful, with the new conditions you are like kings, you only need to eliminate the news and that is like we traders are in heaven!!


"Can you picture the frustration of being just a small step away from passing the FTMO Challenge, but the trading period is almost over? We absolutely understand you and so from now on, you can extend your FTMO Challenge by 14 extra calendar days before taking a free repeat!"

Thanks!!
Be happy, friendly, humble and winner!!
Hello Vitak,
I was trading 100,000 challenge last week, I couldn't reach the profit margin you requested on time. but I didn't breach any rules of the challenge. I see an advertisement on Facebook if I keep 5% of the profit you give additional 14 days for trading. I hoped to get 14 days. but my account was repeated.. not extended. I ask about " why my account did not get 14 days and just repeat" they couldn't tell the reason in customercare.. and told me to trade a new account. You know trading is very hard. I think if I have extended time I can complete the challenge early. Please help me. I'm a little disappointed.. customer care contact is useless for chatting about this point, that's why I ask you here.

Here are the full details of the challenge
https://trader.ftmo.com/metrix?share=2afd2bf22e0a

Thank You
Darshana
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Quoting darshana1991
Hello Vitak, I was trading 100,000 challenge last week, I couldn't reach the profit margin you requested on time. but I didn't breach any rules of the challenge. I see an advertisement on Facebook if I keep 5% of the profit you give additional 14 days for trading. I hoped to get 14 days. but my account was repeated.. not extended. I ask about " why my account did not get 14 days and just repeat" they couldn't tell the reason in customercare.. and told me to trade a new account. You know trading is very hard. I think if I have extended time I can...
dude you traded for 32 days, and i think that u only get the extension if u ask 5 days earlier before ur challenge expires
Hello traders,
I hope you’re all doing great, another week is history and it’s time for the Friday update again. So without any further ado, let’s hop in straight to the platform updates:
After the successful testing period, the new symbol US2000.cash (US small-cap index CFD) is now available for trading on all our accounts, namely FTMO Challenges, Verifications, and FTMO Accounts. The new symbol has been available from Monday, 07 February 2022.
There is no other news as for the platforms, no maintenance breaks have been scheduled whatsoever so crypto traders can enjoy fluent trading even over the weekend.
A very quick update today, we can now go straight to your questions. We have not received many, so that is going to be rather quick as well:


Quoting Ak386
You are wonderful, with the new conditions you are like kings, you only need to eliminate the news and that is like we traders are in heaven!! "Can you picture the frustration of being just a small step away from passing the FTMO Challenge, but the trading period is almost over? We absolutely understand you and so from now on, you can extend your FTMO Challenge by 14 extra calendar days before taking a free repeat!" Thanks!!
Hello Ak386, I’m glad you like the new feature! It’s the risk management that is absolutely crucial for us, so if we spot a trader who’s meeting our loss limits and manages to be profitable as well, we’ll gladly provide him with a bit more time to meet his Profit Target as well.
As for the news trading, during the Evaluation Process, you can actually trade all the news. If you would like to trade news even on your FTMO Account, then Swing account type would be suitable for you.

Quoting darshana1991
Hello Vitak, I was trading 100,000 challenge last week, I couldn't reach the profit margin you requested on time. but I didn't breach any rules of the challenge. I see an advertisement on Facebook if I keep 5% of the profit you give additional 14 days for trading. I hoped to get 14 days. but my account was repeated.. not extended. I ask about " why my account did not get 14 days and just repeat" they couldn't tell the reason in customercare.. and told me to trade a new account. You know trading is very hard. I think if I have extended time I can...
Hello Darshana, in order to have your Trading period extended by 14 extra calendar days, you have to have at least 5% profit 3 days before your FTMO Challenge ends. Your end date was set at the 4th of February, which means you had to reach the 5% profit on the 1st of February or before. However, your final balance/equity on the 1st of February reached only $104,477.56, unfortunately just over $500 away from the necessary 5% mark and therefore we did not offer you to have your Trading period extended.


And there we go, a truly swift update! Have a lovely weekend guys, I'll see you on Friday as usual.
Cheers, Vitek
Thank you Vitek.....
Quoting Zuke
{quote} 1. Go back and read my posting history (if you can be bothered) and youll see that Ive lasted waaaaaayyyyyy longer than your arbitrarily derived 3 months 2. Im not sure if youre a native English speaker or not, but you continue to misuse the word "scam". Im not sure you fully understand its meaning 3. Im not clear what purpose your posts serve. If its to "warn" people, then surely youve done that now and can move onto a different thread/forum focusing on the things you think are good? 4. Live and let live is a good principle to live by

Do you understand what spread fixing is? this company will adjust your spreads to make you fail. Sooner or later they will fail you intentionally.

They are a SCAM
Quoting Gobigfx
{quote} Do you understand what spread fixing is? this company will adjust your spreads to make you fail. Sooner or later they will fail you intentionally. They are a SCAM
If you are using reasonable leverage like 1:1 or 2:1, there is no amount of spread manipulation that can make you fail. People fail because they do not understand risk and money management. If you risk 2-3% of allowable DD, please explain how a spread is going to make you fail. In addition, been with them since June 2020, never had this spread issue, then again I do not trade GBPNZD at 5 pm eastern either.
It seems that Gobigfx has an agenda, and is now even making unsubstantiated claims to try to legitimize his 'scam' argument.
I have tried FTMO last year and failed in evolution. the big problem is TIME. you have to gain 10% in 21-22 working days. If you are trading like a trader not like a gambler then it gets worse when you face the pressure of time as time passed by. I dont like their model just because of following reasons

1. Time as it is explained.
2. Trading on demo account ( even if you pass the evolution, you will be on demo account forever and they will keep you paying profits from the profits they are gaining from the failures of 95% traders. This model is not a trader friendly as compare to the5ers.

I suggest The5ers. Consider your trading as a long term carrier
The key to making money is to stay invested.
Quoting Mafia
I have tried FTMO last year and failed in evolution. the big problem is TIME. you have to gain 10% in 21-22 working days. If you are trading like a trader not like a gambler then it gets worse when you face the pressure of time as time passed by. I dont like their model just because of following reasons 1. Time as it is explained. 2. Trading on demo account ( even if you pass the evolution, you will be on demo account forever and they will keep you paying profits from the profits they are gaining from the failures of 95% traders. This model is not...
If you are going to use the 5%ers, may as well not use a prop firm, you don't need one. Fee is greater than allowable loss. Plug those numbers into a spreadsheet. Search this thread, I've done it several times to show. By the time you reach the top of the 5ers, you'll have 3 times more ina personal account. This is why there is no time constraint, there is literally zero risk on their part, you are simply funding YOUR OWN ACCOUNT and then they only charge 50% of your profits for that "privilege". I don't mean to sound like an asshole all of the time, but folks who think the 5%ers, LUx, etc are a good deal are lacking very basic math skills.
Hello everyone.
I would like to share my own experience with FTMO.
First of all, everybody knows trading is hell of a challenge( between 80 to 95% people lose money etc ).
It took me ages to develop a profitable approach to trading ( Still learning of course and well aware of how tough it will be to survive ).
That being said, I started my "get funded" journey almost 1 year and a half ago and after mistakes , painful lessons and infinite patience mixed with positive mindset, I managed to get funded.
Of course I couldn't believe it.
I received my login credentials the day after signing the contract and I was lucky enough to generate some profit for my first trading split day.
After sending my invoice I received profit + challenge fee in literally one working day ( I'm UK based ).

I was speechless because I'm kinda of an old school guy that doesn't trust much anything involving retail trading , specially when things look too good to be true.

So far, FTMO proved to care about their traders , more than I sincerely expected and this is all that matters to me.

A last note about people thinking their challenges are for everyone: BIG MISTAKE.
Due to their trading objectives,passing the challenge is really hard, it's a mix of luck, favourable trading conditions and optimised risk sizing/ money management.
I've seen pro traders attempting it and awfully failing it, so... it's absolutely not for everyone.
Once passed the challenge tho, their basic rules for verification and funded account are, in my opinion, a bless.
Professional traders in banks and more traditional trading firms have to follow strict rules: they can't lose or risk infinite amount of money, they have limits to respect to keep their job.

For retails traders with very limited funds like me, a successful trading journey with decent profits seemed to be pretty much impossible and an ultra long term process.
FTMO gave me the chance to invest almost all my time into something I really love, exponentially speeding up the all process.

Hopefully I'll manage to be humble and to keep a profitable relationship with them.

Chees everyone,
Be humble, be nimble.
Quoting francoxxx
Hello everyone. I would like to share my own experience with FTMO. First of all, everybody knows trading is hell of a challenge( between 80 to 95% people lose money etc ). It took me ages to develop a profitable approach to trading ( Still learning of course and well aware of how tough it will be to survive ). That being said, I started my "get funded" journey almost 1 year and a half ago and after mistakes , painful lessons and infinite patience mixed with positive mindset, I managed to get funded. Of course I couldn't believe it. I received my...
Glad to hear that, well done and good fortune!
Quoting pipmaster77
{quote} If you are going to use the 5%ers, may as well not use a prop firm, you don't need one. Fee is greater than allowable loss. Plug those numbers into a spreadsheet. Search this thread, I've done it several times to show. By the time you reach the top of the 5ers, you'll have 3 times more ina personal account. This is why there is no time constraint, there is literally zero risk on their part, you are simply funding YOUR OWN ACCOUNT and then they only charge 50% of your profits for that "privilege". I don't mean to sound like an asshole all...
Let do math....
for example. you invested $275 and you get $6000 account and you have 6 months to gain 6% i.e. $375 (quite easy)
after passing the challenge you will get your 50% share ($187.5)
what the5ers get? they already got your $275 in fees and 187$ in profit. 275+187.5= $462.50 (if you get success)
on the other hand if you lose they will get $25 (stopout level is $250)

above scenario means they want their traders to be succeeded to get significant more profit but if the trader fails they are not in loss they are still in profit but smaller one.

Their rules are trader friendly like trading during the news and holding your trades over the weekends. DD limit 2.5 times less as compare to ftmo but you are getting 6 times more trading days to complete the challenge which plays a significant role in success. the5ers growth plan is good they will double your account after every 10% gain with a guaranteed funding of $2.56M

as i said earlier this is a long term career opportunity. This is not for the traders who want to get rich quick. Go Slow and steady and win the race.

according to your theory if someone opens an account of $275 with high leverage( 1:500 or 1:1000) He will blow this account with in a few months these type of retail traders( millions of them worldwide) are meant to be eaten by big boys. he will be washed out sooner or later its written on the wall ( there will be no growth on 10% gain or 100% gain or even 1000% gain)

I have studied different models of prop trading, the5ers is best so far.

My 2cents.
The key to making money is to stay invested.
Quoting Mafia
{quote} Let do math.... for example. you invested $275 and you get $6000 account and you have 6 months to gain 6% i.e. $375 (quite easy) after passing the challenge you will get your 50% share ($187.5) what the5ers get? they already got your $275 in fees and 187$ in profit. 275+187.5= $462.50 (if you get success) on the other hand if you lose they will get $25 (stopout level is $250) above scenario means they want their traders to be succeeded to get significant more profit but if the trader fails they are not in loss they are still in profit but...
Wrong from the first sentence...... you invest $275, you do not get $6000 account you get 4% DD ($150) you need to make $375 off of $150. It gets worse once your funded, you need to make 250%, 10% profit with 4% DD and they double your DD. Don't be fooled by the "equity" they are giving you, that amount could be 10 million, bottom line is what you can lose....if that amount is less than the fee you pay them, in no scenario does this benefit you.
In other words, your "risk of ruin", or what you risk per trade is based on the equity in your personal account or the DD in the 5%ers account. If you risk 2% per trade, that would be $5.50 per trade in your $275 personal account. If you risk 2% of the $6,000, that is $120, lose that trade you have $30 left to lose with the 5%ers. Therefore your 2% risk must be based on the $150 in DD they allow. I am funded with FTMO and MFF, and I have studied every freaking model out there. There is no possible way to spin the 5%ers to make it beneficial for the trader. By the time you reach the top of 2.56 million, which is really $102,400 (4%), you will have well have 300K in a personal account. Trust me, I've run the model over and over.

Here is a spreadsheet, this one was done with CTI, very similar model to 5%ers, but you should get the jist. Just plug the 5%ers numbers in if you wish.

https://www.forexfactory.com/thread/...2#post13625692
Quoting pipmaster77
Wrong from the first sentence...... you invest $275, you do not get $6000 account you get 4% DD ($150) you need to make $375 off of $150. It gets worse once your funded, you need to make 250%, 10% profit with 4% DD and they double your DD.
-Some will never get it, my friend.
Quoting pipmaster77
{quote} Wrong from the first sentence...... you invest $275, you do not get $6000 account you get 4% DD ($150) you need to make $375 off of $150. It gets worse once your funded, you need to make 250%, 10% profit with 4% DD and they double your DD. Don't be fooled by the "equity" they are giving you, that amount could be 10 million, bottom line is what you can lose....if that amount is less than the fee you pay them, in no scenario does this benefit you. In other words, your "risk of ruin", or what you risk per trade is based on the equity in your...
Thanks Pipmaster77 for your detailed explanation, 5%ers is indeed a tricky prop firm to join... I will certainly avoid this firm!
Scalping is my favorite game
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