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FTMO - For serious traders

  • #8,561
  • Apr 1, 2022 12:12pm Apr 1, 2022 12:12pm
Hello traders,
I hope you’re all doing well and you finished your week on a positive note. Before we take our time off and settle down for the weekend, let’s quickly buzz through the latest updates.

Due to scheduled maintenance on all our platforms, on Saturday, 02 Apr 2022 from 11:00 am to 6:00 pm platform time (GMT+3/CEST+1) trading will be unavailable on MT4/5 and cTrader. Be reminded that cTrader has a different trading hours schedule on Saturdays.
Due to the National Day Holiday in Hong Kong, the HK50.cash instrument will close early at 10:00 pm on Monday, 04 Apr 2022, will be closed the whole day on Tuesday, 05 Apr 2022, and will reopen at 04:15 am on Wednesday, 06 Apr 2022. All the times are expressed in the MetaTrader platform time (GMT+3/CEST+1).
Therefore, kindly manage your trades accordingly.
Let’s now move on to the few questions that were placed here during the week…

Quoting IlyaMymrin
{quote} Hello! my name is Ilya. I live in Russia and am a citizen of the Russian Federation. Please tell me if I can pass the FTMO challenge? How can I pay for it? In case of successful completion of the challenge and further trading, will you withdraw profit to me? If so, in what way!?
Hello Ilya, currently, you can normally start FTMO Challenge on our website and become an FTMO Trader as well. However, due to the current sanctions that the EU and US imposed on the Russian Federation and the regions of Donetsk, Luhansk, and Crimea, we are not able to send any payouts/transactions to these locations to their citizens. If you would become an FTMO Trader and you would request a Profit Split, it would be on hold until the sanctions would be lifted. However, due to the uncertainty of the situation, I would advise you to wait until the situation settles and the sanctions are possibly lifted.

Quoting TrAndy1
I have a request. I would like to see max funded account size higher than the actual $400k, because competitors like Myforexfunds are offering $600k and many other props also offer at least $500k. (I do not consider any scaling plan in addition the max funded account here because most prop firms offer this too.) As time goes by and with the higher inflation recently you should adapt the max account size to at least $600k or better $800k to be among the number 1 among all prop firms again. Could you please consider this and make this as topic in...
Hello TrAndy1, as you might know, we have already increased our maximum allocation once, that time it was from $300,000 to $400,000. As we’re receiving more and more capable traders who can manage $400,000 well, it is possible that we may increase this number in the future. However, as of now, I can not guarantee anything.


Very quick update today! Thank you for sticking around and enjoy the weekend everyone!
Cheers, Vitek
  • #8,562
  • Apr 2, 2022 3:09pm Apr 2, 2022 3:09pm
@

  1. Vitek-ftmo


do you send payouts to russians in crypto now?

  • #8,563
  • Apr 6, 2022 12:27am Apr 6, 2022 12:27am
Apologizes if it’s the wrong thing to post it here,
Hello traders,
I believe you all know that risk and money management along with psychology are the keys to success in trading. No matter how strong one’s strategy is without these 3 criteria they will always face losses in the long run.
I have created an EA to control our human behaviors. This EA will force us to be discipline exactly the way you will set. For examples,
1. If you set the maximum trades in a day= 3. You won’t be able to take any more trades in that day if you have already taken 3 entries,
2. If you set the maximum lot size for a particular instrument like GBPUSD=0.5 lot, you won’t be able to trade with bigger lot than 0.5, (You can set the maximum lot for every single pair/instrument independently since not all forex pair/indices/equities/shares don’t have same pip value),
3. You can set the maximum loss in a day based on account percentage and if it hits the maximum loss in that day, it will close all positions and won’t allow you opening anymore trade on that day.
4. You can set a maximum profit target for a single instrument and it will close that trade once that single trade hits the profit target, it won’t interfere any other opened trades.
The EA is great (almost all prop firm accepts it) but if you can’t control your behaviors chances are you won’t be able to control the EA and change the parameter frequently (Psychological issue) which will defeat the purposes of the EA. So, I am keeping the control of the EA in my VPS for you so that even if you want to change the parameter you won’t be able to do so.
Once you set the parameters and put the EA on my VPS, there will be locked-in period of 15 days, withing this 15 days even if you tell me to change the parameter, I won’t change it. You can change it only 15 days later.
I believe if one can control these 4 things below, they can be profitable with almost every strategy:
1. Over lot,
2. Over trading,
3. Letting losses run,
4. Not taking profit even after enough RR.
My EA will ensure that you won’t be able to do any of the those above and I can guarantee you that you will make money in the long run when you are not risking too much in a single trade, not over trading and not letting the losses run for long.
I am using MetaTrader VPS which is the highest in quality with-
1. 24/7 days run time,
2. Analysis delays: less than 1 milliseconds.
3. Ping to broker: less than 5 milliseconds.
It costs me 15$ per month for VPS+ EA cost + Maintenance cost as it takes several hours extensive and prudent work every day.
If you are interested, please subscribe my thread dedicated to this EA: https://www.forexfactory.com/thread/post/13958759
You can have my service for only 20$ per month. (If anyone has any money issue, I will consider that. Some of my clients are using my service for free who are in short of money).
Thanks, happy trading.
  • #8,564
  • Apr 6, 2022 3:20pm Apr 6, 2022 3:20pm
Good Evening guys, i have developed a winning consistent trading robot for mt4 (not for sale) , iam facing a small problem though, the problem needs a mathematical solution, if the solution is tested and proves to bring improvement, i will let the EA trade the live account of person(s) who contributed to the solution. Check me via mail to discuss the details of the problem [email protected]

And Yes it can pass FTMO, uses a safe strategy with SL
  • #8,565
  • Apr 7, 2022 9:21am Apr 7, 2022 9:21am
Hi Traders,

A question for you guys being taxed in Germany. If a kind soul could answer I would be greatly thankful!

Any experienced trader could tell how FTMO is taxed In Germany? My logic says, you trade for a company, with a demo, and although they pay to you part of the earnings, you still trade cfds which as you German trades know have a limit of 20 k losses in the period of a year. I hope my question is clear. Any of you already did the taxes?

Thanks in advance.

Have a great day friends!
“Stops don’t limit profits — they prevent disasters.”
  • #8,566
  • Apr 7, 2022 10:44am Apr 7, 2022 10:44am
if i trade crypto on the weekend, does that require a swing account? it woulndt be holding trades for longer than a day
  • #8,567
  • Apr 7, 2022 1:25pm Apr 7, 2022 1:25pm
Quoting Dagaco
Hi Traders, A question for you guys being taxed in Germany. If a kind soul could answer I would be greatly thankful! Any experienced trader could tell how FTMO is taxed In Germany? My logic says, you trade for a company, with a demo, and although they pay to you part of the earnings, you still trade cfds which as you German trades know have a limit of 20 k losses in the period of a year. I hope my question is clear. Any of you already did the taxes? Thanks in advance. Have a great day friends!
Im not a tax expert but i would think they'd have to tax you as a business. Not as a trading business or trader because you're technically not trading at all. It's a demo account that they basically pay you like you're a signal service. So that's like a "consultant"

Talk to a tax expert in your country it's a grey area
  • #8,568
  • Apr 7, 2022 2:56pm Apr 7, 2022 2:56pm
Quoting hazelj80
if i trade crypto on the weekend, does that require a swing account? it woulndt be holding trades for longer than a day
I do not trade crypto, however, my interpretation of the rule is you must close positions anytime there is a 2 hour or longer gap of that particular instrument being closed for trading. Since crypto is essentially 24/7, I do not believe you would need a swing account. However, I would confirm with FTMO.
  • #8,569
  • Apr 7, 2022 3:29pm Apr 7, 2022 3:29pm
Quoting pipmaster77
{quote} I do not trade crypto, however, my interpretation of the rule is you must close positions anytime there is a 2 hour or longer gap of that particular instrument being closed for trading. Since crypto is essentially 24/7, I do not believe you would need a swing account. However, I would confirm with FTMO.
ok they usually answer on fridays so ill see what they say
  • #8,570
  • Apr 8, 2022 12:38pm Apr 8, 2022 12:38pm
Good evening traders,
I’m glad to be back for another, this time again rather quick update here on ForexFactory. Today we got on the agenda mainly platform-related updates, so let’s get on with it.

Due to scheduled maintenance, on Saturday, 09 Apr 2022 from 09:00 to 14:00 GMT+3/CEST+1, trading will be unavailable on the cTrader platform. Be reminded that cTrader has a different trading hours schedule on Saturdays, therefore, kindly manage your trades accordingly.

And we got one more maintenance coming this weekend. On the MetaTrader4 platform, the MT4 FTMO-Server2 will not be available on Saturday, 09 Apr 2022 from 07:00 to 09:00 GMT+3/CEST+1. Holding trades on FTMO Accounts beyond this 2-hours gap will not be considered a violation.

The Easter Holiday is coming up! The trading hours of the instruments will be affected as follows:

On Thursday, 14 Apr 2022,
EU50.cash, FRA40.cash, GER40.cash, UK100.cash will close early at 23:00;
AUS200.cash will close early at 17:00;
HK50.cash will close early at 22:00.

On Friday, 15 Apr 2022, all instruments will be closed with the only exceptions of Forex and Cryptos, which will be open as per the usual trading hours.
All the times are expressed in the MetaTrader server time (GMT+3/CEST+1)

Other than that, there were just minor updates to the Client Area, namely in the Performance coach interface.
Moving on to your questions…

Quoting tijara500
@ Vitek-ftmo do you send payouts to russians in crypto now?
Hello Tijara500, the sanctions are imposed on the citizens of the Russian Federation and Donetsk, Luhansk and Crimea regions. It therefore does not matter which withdrawal method is chosen, we are not able to send any transactions towards Russia.

Quoting Dagaco
Hi Traders, A question for you guys being taxed in Germany. If a kind soul could answer I would be greatly thankful! Any experienced trader could tell how FTMO is taxed In Germany? My logic says, you trade for a company, with a demo, and although they pay to you part of the earnings, you still trade cfds which as you German trades know have a limit of 20 k losses in the period of a year. I hope my question is clear. Any of you already did the taxes? Thanks in advance. Have a great day friends!
Hello Dagaco, as an FTMO Trader, you are not directly connected to the live market - you are an independent service provider. Nevertheless, I understand that the legal side is always sensitive, I have sent you a private message with the sample of German FTMO Account agreement so you can read it through.

Quoting hazelj80
if i trade crypto on the weekend, does that require a swing account? it woulndt be holding trades for longer than a day
Hello Hazelj80, the short answer is no. Pipmaster77 described the rule perfectly - as long as the market is not closed for more than 2 hours, you can keep your trades open and therefore, you can trade crypto pretty much 24/7 unless there's maintenance.


Alrighty, that's it! A very quick update today as usual. Thank you for your attention and I'll be back next week as usual.
Cheers, Vitek
  • #8,571
  • Apr 10, 2022 11:21am Apr 10, 2022 11:21am
I had a bad experience with ftmo. About 2 months ago, I sent an email to ftmo and asked them about working with Iranian customers.
They said our services are not limited to any particular country and we accept customers from anywhere.
I opened an account with them and entered the challenge. After 12 days, I realized that my country was removed from the list without warning that we would not work with you.
After I sent them an email saying that we do not work with Iranians because of our regulatory rules.
I found out that prop firm are not regulated and this company is registered only in the Czech Republic and there is no document on their site that is subject to regulatory rules.
Right now, the company is working with a country like Russia, which has the most sanctions, easily accepting customers and on the other hand asking its customers help Ukraine.
No new sanctions have been imposed on Iran since 2019
If the company did not want to work with Iranian customers, it could have said so much sooner. On the other hand, cryptocurrency payments are not subject to US sanctions.
This company there is no problem with paying for cryptocurrency and could work with customers. Unfortunately, This is a dirty policy that is always faced by customers from countries under sanctions.
I was surprised by the dual and contradictory policies of this company and wanted to share the bad experience of myself and my compatriots with this prop firm. Even if this company wants to work with us again, I will not return to this company.
I also have documents to confirm my words, which I will send if needed.
  • #8,572
  • Apr 10, 2022 12:36pm Apr 10, 2022 12:36pm
Quoting alibati
I had a bad experience with ftmo .
I really do not understand why the sanctions are imposed on citizens !?
  • #8,573
  • Apr 11, 2022 8:01am Apr 11, 2022 8:01am
I didn't have any bad experiences with FTMO, however I only had one payout which was quick and smooth. During the challenge I faced two weird things, in first case I had a trade which was at least 200 points from my stop and it was closed, in second case their system didn't realise my 10th trade which was a requirement to complete the challenge. Note that they were very helpful but I had to make another trade. Since I reached the profit target I opened a position with a tiny amount of LOT then closed it immediately after that they were able to see it. I'm gonna share my opinion about my next payout and I still trust that everything will be fine as it was previously I hope that I can cooperate with FTMO for long term.
  • #8,574
  • Apr 13, 2022 1:07pm Apr 13, 2022 1:07pm
Hi there, I am currently in the FTMO Challenge. I have a question, what are the trading times in a funded trading account (1:100 leverage account). I read that you CAN NOT Hold positions overnight. What are the timing during the week days when a trader can not trade? I am in Easten time zone.

Thanks
Drawdown is more important than Account Size !
  • #8,575
  • Edited 4:42pm Apr 13, 2022 1:23pm | Edited 4:42pm
Quoting procrude
Hi there, I am currently in the FTMO Challenge. I have a question, what are the trading times in a funded trading account (1:100 leverage account). I read that you CAN NOT Hold positions overnight. What are the timing during the week days when a trader can not trade? I am in Easten time zone. Thanks
Two minutes before or after certain/hnewsigh impact events. And no longer than a 2 hour pause over the weekend but cryptos don't count since they're 24/7. This include us and UK oil crude inventory announcement
  • #8,576
  • Apr 15, 2022 11:42am Apr 15, 2022 11:42am
Hello traders and happy Easter to all of you who celebrate it!
We’ve been dedicating the last few weeks primarily to the development of our internal infrastructure and therefore, I’ve most mostly just platform-related updates to share.

Except for Forex and Cryptocurrencies, all instruments are closed for today.
On Monday, all EU Equities and several indices will remain closed, namely EU50.cash, FRA40.cash, GER40.cash, UK100.cash, AUS200.cash, and HK50.cash

The indices will re-open back on Tuesday at the following times:

  1. AUS200.cash will reopen at 2:50 am
  2. EU50.cash and GER40.cash will reopen at 3:15 am
  3. FRA40.cash will reopen at 9:00 am
  4. UK100.cash will reopen at 3:00 am
  5. HK50.cash will reopen at 4.15 am

All times are expressed in the MetaTrader server time (GMT+3/CEST+1)

Also, since I've been seeing people asking for our merch here and there, I would like to mention that our e-shop has been completely renewed and restocked as well, so those of you who'd be interested in our official wear, kindly navigate to shop.ftmo.com.

Okay, that was for the updates, let's move on to your recent posts and questions:


Quoting alibati
I had a bad experience with ftmo. About 2 months ago, I sent an email to ftmo and asked them about working with Iranian customers. They said our services are not limited to any particular country and we accept customers from anywhere. I opened an account with them and entered the challenge. After 12 days, I realized that my country was removed from the list without warning that we would not work with you. After I sent them an email saying that we do not work with Iranians because of our regulatory rules. I found out that prop firm are not regulated...
Hello Alibati, the decision not to accept clients from Iran, North Korea and Syria is not coming from our own incentive. After accepting clients from every single country for many years, we were strongly advised by our auditing company to revise our approach towards countries on the State Sponsors of Terrorism list to avoid further aggravations. When it comes to clients from the Russian Federation and Donetsk, Luhanks and Crimea regions, we can technically still accept them, however, we are not able to send them any payout.

Quoting Feelas
{quote} I really do not understand why the sanctions are imposed on citizens !?
Hi Feelas, the purpose of international sanctions, specifically economic sanctions is to abate the economic capability of certain countries. This unfortunately, although naturally includes regular citizens of the particular country as well.

Quoting hptzsde72gm
I didn't have any bad experiences with FTMO, however I only had one payout which was quick and smooth. During the challenge I faced two weird things, in first case I had a trade which was at least 200 points from my stop and it was closed, in second case their system didn't realise my 10th trade which was a requirement to complete the challenge. Note that they were very helpful but I had to make another trade. Since I reached the profit target I opened a position with a tiny amount of LOT then closed it immediately after that they were able to see...
Hi Hptzsde72gm, I’m glad that your experience has been mostly positive so far. Unfortunately, I have no further details on those issues you’ve experienced so I can not really comment on that. Thank you for sharing your feedback and I’m looking forward to the following update after your next payout!

Quoting procrude
Hi there, I am currently in the FTMO Challenge. I have a question, what are the trading times in a funded trading account (1:100 leverage account). I read that you CAN NOT Hold positions overnight. What are the timing during the week days when a trader can not trade? I am in Easten time zone. Thanks
Hello Procrude, on a regular FTMO Account, you must close your trade if the market closes for 2 hours or more - typically, that means you have to close your trades on Friday, some instruments (e.g. stocks) must be closed on daily basis. The trading hours are available here or directly in your trading platform as well. If you see a break of 2 or more hours on a particular instrument, you must close the position just before the market closes. Again, this applies only to the regular FTMO Account.


Thank you for your attention everyone, that's all for today. Enjoy your week off and I'll meet you all again the next Friday as usual.
-Signing off, Vitek
  • #8,577
  • Apr 16, 2022 11:02am Apr 16, 2022 11:02am
Quoting Vitek-ftmo
Hello traders, I hope you’re all doing well and you finished your week on a positive note. Before we take our time off and settle down for the weekend, let’s quickly buzz through the latest updates. Due to scheduled maintenance on all our platforms, on Saturday, 02 Apr 2022 from 11:00 am to 6:00 pm platform time (GMT+3/CEST+1) trading will be unavailable on MT4/5 and cTrader. Be reminded that cTrader has a different trading hours schedule on Saturdays. Due to the National Day Holiday in Hong Kong, the HK50.cash instrument will close early at 10:00...



Hi, I have my 100k live account and waiting for a payout. The process has been pretty smooth so far, I created an account just to keep everyone updated on my coming payout. I’ve heard nothing but great things about ftmo and just hoping to share my good experience as well once my payout comes. I will keep this updated in the following week as my payment was fully processed April 16th 2022.
  • #8,578
  • Apr 19, 2022 5:29am Apr 19, 2022 5:29am
Quoting Tholder676
{quote} Hi, I have my 100k live account and waiting for a payout. The process has been pretty smooth so far, I created an account just to keep everyone updated on my coming payout. I’ve heard nothing but great things about ftmo and just hoping to share my good experience as well once my payout comes. I will keep this updated in the following week as my payment was fully processed April 16th 2022.

got my profit split! It’s real guys. Although it wasn’t a bih profit split I just wanted to get my feet wet and see it was actually real or not. Glad to say I’ve been very satisfied with FTMO and their professionalism. Other than the refund for my account fee not being accepted the same day as my profit split (which I thought was strange) everything trading wise like spreads, execution, and a sleek platform have really made me a happy trader (pointing out I use c trader platform for ftmo) the credentials arrived for my new live account 2 business days as expected (I was a but impatient so it seemed like forever) they held to their word which I admire. Only instance I ever had a problem with was in a low liquidity setting like Australia session, my stop loss was almost triggered due to candles that never happened in real time, they said it’s because their institutional liquidity provider does not have the same charts as trading view and I agree to some extent but these bars that almost stopped me out were massive spikes up and down when my stop loss was almost 50 pips away from entry ( so these bars were at least 40 pip bars that never happened) then after it was settled price went back to my original plan and went positive again. That’s why you have to have a proper plan. Weird things happen that we can’t control, if you’re following your plan even something like that shouldn’t affect you. Cheers to the FTMO team they really are doing great things
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  • #8,579
  • Apr 19, 2022 2:24pm Apr 19, 2022 2:24pm
Quoting Tholder676
{quote} got my profit split! It’s real guys. Although it wasn’t a bih profit split I just wanted to get my feet wet and see it was actually real or not. Glad to say I’ve been very satisfied with FTMO and their professionalism. Other than the refund for my account fee not being accepted the same day as my profit split (which I thought was strange) everything trading wise like spreads, execution, and a sleek platform have really made me a happy trader (pointing out I use c trader platform for...
Which pairs were you trading ?
  • #8,580
  • Apr 22, 2022 12:14pm Apr 22, 2022 12:14pm
Good afternoon from the FTMO headquarters traders,
let’s kick off another Friday update, this time we’re looking at a truly quick one.

Just one platform update that everyone should be aware of, ad that is the ANZAC Day Holiday, on Monday, 25 Apr 2022, the symbol AUS200.cash will open at 10:10 am.
Also, on Friday, 29 Apr 2022, due to Bank Holiday, UK100.cash and HK50.cash will close early at 11:00 pm and 10:00 pm, respectively.
All times are expressed in the MetaTrader server time (GMT+3/CEST+1).

And there we go, let's check Tholder676's feedback he left here on Tuesday:


Quoting Tholder676
{quote} Hi, I have my 100k live account and waiting for a payout. The process has been pretty smooth so far, I created an account just to keep everyone updated on my coming payout. I’ve heard nothing but great things about ftmo and just hoping to share my good experience as well once my payout comes. I will keep this updated in the following week as my payment was fully processed April 16th 2022.
Quoting Tholder676
{quote} got my profit split! It’s real guys. Although it wasn’t a bih profit split I just wanted to get my feet wet and see it was actually real or not. Glad to say I’ve been very satisfied with FTMO and their professionalism. Other than the refund for my account fee not being accepted the same day as my profit split (which I thought was strange) everything trading wise like spreads, execution, and a sleek platform have really made me a happy trader (pointing out I use c trader platform for ftmo) the credentials arrived for my new live account 2...
Hi Tholder676, thanks for sharing your experience! As we’ve been around for a while, we managed to smooth out the transitions between the individual processes to the point where the overall experience is truly professional. The refund of the initial fee is always being sent as a separate transaction, which is why you might have gotten it a little later.
Speaking of the low liquidity session, that is quite normal outside of London and New York sessions, of course depending on the forex pair. Also, please note that Forex is a decentralized market and hence every broker/provider may get their quotes from a different source, which is why you can often spot differences when comparing prices.
Overall, thank you for your feedback once again and keep them payouts coming!


Thank you for your attention guys, trade safe and I'll see you next week!
-Cheers, Vitek
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