Hi, I'm about ready to sign up with FTMO but was wondering if there are any discount code coming up with the July 4th holiday?
Thanks
Thanks
- #8,763
- Jun 29, 2022 9:09pm Jun 29, 2022 9:09pm
- Joined Nov 2006 | Status: Trader | 4,416 Posts
to trade and code, keep both simple... no call to impress....h
Hello traders,
I hope you're all doing well, welcome to the first July update here on ForexFactory!
The US will be celebrating their Independence day and therefore on Monday, 4 Jul 2022, the symbols below will have their trading hours modified as follows:
Hello Bpujolsc, I believe the average payout time is around 8 hours, so I’m glad your particular payout obviously met our standards. Thanks for your feedback and good luck with more upcoming payouts!
Hello Here2there, let me address your questions point by point:
Yes, there is an investor that stands behind FTMO pretty much almost from the start. Naturally, we do not disclose the name as the investor wishes to remain private. We do not search for any new investors.
From the technical point of view, FTMO Accounts are demo accounts from which we copy the trades on our live accounts at our own discretion using aggregated orders thanks to our proprietary risk management algorithm.
There are two main reasons why we do not provide FTMO Traders directly with live accounts - legal and administrative. As we are not a regulated broker/traditionally regulated entity that would provide direct access to the financial markets, we can not provide our clients with live accounts. Secondly, we still need to have a certain overview of the FTMO Accounts and the fact that we’re talking about demo accounts makes many administrative processes much faster & easier.
Our revenue is coming from two main streams. We profit from the FTMO Challenge fees and from the profits generated on our live accounts.
I hope this sheds some light on how FTMO works and perhaps the whole situation is a bit more clear. Should you have any further questions, please let me know.
Hi Hazelj80, we do offer the HK50 index. Unfortunately, the demand for smaller-cap indices is currently not sufficient.
Hello Boulder, when it comes to trade copying, we have a proprietary risk management algorithm in place. However, I can not tell you which exact trades from which traders are being copied as I do not have access to such information.
Hello ChrissK, a spot-on post!
Hello Brixton, please note that the trading hours between MetaTrader platforms and cTrader can vary and therefore, always please check the crypto trading hours before the weekend.
Hello Ryuryu, just like Pipmaster, I’m not really sure to which “made up artifical rules” are you referring to.
On the FTMO Account, you just need to respect the Max Daily Loss, Max Loss, the restricted news and the restriction of holding your positions if the market closes for 2 hours or more.
With the Swing account type, we’re talking only about the Max Daily Loss and Max Loss rules.
Hello Yacinesftc, I have to admit you cought me a little of guard there, this is a little out of my expertise. However, I’ll get in touch with our accounting department and I’ll bring the answer in the next update. 
Hi Never, even we need to follow certian risk-management policies. If one identical trading strategy would be applied on, let’s say 15 $200,000 FTMO Accounts, one unexpected even could cause a great damage on our proprietary accounts. Diversification is the short answer here.
Hello Goldenbears, there are no active discount sales planned for the near future.
There we go guys, that's all for today's update! Enjoy your weekend and I'll see you all next Friday.
Signing off,
Vitek
I hope you're all doing well, welcome to the first July update here on ForexFactory!
The US will be celebrating their Independence day and therefore on Monday, 4 Jul 2022, the symbols below will have their trading hours modified as follows:
- GER40.cash, UK100.cash, EU50.cash, FRA40.cash will close early at 11:00 pm;
- US30.cash, US100.cash, US500.cash, US2000.cash, JP225.cash will close early at 8:00 pm;
- Metals (Gold – XAU, Silver – XAG, Palladium – XPD, Platinum – XPT) and NATGAS.f will close early at 9:30 pm;
- USOIL.cash and UKOIL.cash will close early at 8:15 pm;
- DX.f and USTN.f will close early at 8:00 pm;
- US Equities will be closed the whole day.
Due to a public holiday in Hong Kong, the symbol HK50.cash will close early at 10:00 pm on Thursday, 30 Jun 2022, will be closed on Friday, 1 Jul 2022, and will reopen on Monday, 4 Jul 2022 at 4:15 am.
All times are expressed in the MetaTrader server time (GMT+3/CEST+1).
Last time, I promised that the interview with our most profitable ever would be coming, and here we are. We have interviewed Paul who scored an astonishing profit of $500,000 on one FTMO Account and $192,000 on another. Check the whole interview here!
We also know that fake FTMO certificates are starting to appear over the internet and we have decided to cut all the scammers out. From now on, every FTMO certificate includes also a QR code, thanks to which you can, upon scanning it, verify the authenticity of the certificate.
That should do it for the updates, now moving on to your posts:
My first FTMO deposit was crazy fast. I could not believe it. Both my profit share and challenge fee were processed and deposited into my account on the same day. I could not believe it. I had previously requested to have my challenge fee refunded into a different account from the original payment method and they did just that. The whole process was very very transparent. I was notified of every approval step while processing my payment and when I should expect it. Considering this was an international money transfer I could not believe the money...
Does FTMO actually have investors who provide capital for members to trade? Or does FTMO rely on money coming in for challenges to provide funding for traders? Does FTMO provide traders with live accounts to trade or only demo accounts? If only demo accounts, then why not live accounts?
{quote} It has nothing to do with that. What I want to know is if FTMO is a pyramid scheme. If FTMO has legit investors who are putting up capital to be traded, then this is a good thing, as then it would likely not be a pyramid scheme. But if this is the case, then why does everyone who has passed the challenge trade demo accounts rather than live accounts? On the other hand, if the funding mostly comes from failed challenge attempts, then it seems it would be necessary for most people to fail the challenge in order to keep the business afloat....
Yes, there is an investor that stands behind FTMO pretty much almost from the start. Naturally, we do not disclose the name as the investor wishes to remain private. We do not search for any new investors.
From the technical point of view, FTMO Accounts are demo accounts from which we copy the trades on our live accounts at our own discretion using aggregated orders thanks to our proprietary risk management algorithm.
There are two main reasons why we do not provide FTMO Traders directly with live accounts - legal and administrative. As we are not a regulated broker/traditionally regulated entity that would provide direct access to the financial markets, we can not provide our clients with live accounts. Secondly, we still need to have a certain overview of the FTMO Accounts and the fact that we’re talking about demo accounts makes many administrative processes much faster & easier.
Our revenue is coming from two main streams. We profit from the FTMO Challenge fees and from the profits generated on our live accounts.
I hope this sheds some light on how FTMO works and perhaps the whole situation is a bit more clear. Should you have any further questions, please let me know.
Will you guys ever offer the HGK33 aka Hong Kong index? Just curious
{quote} Vitek, I am just curious, does FTMO copy your top traders' trades in real markets? such as copy $500k Paul's trades. since you know your traders statistics to identify good traders and bad traders to meet your criteria.
{quote} Always be open minded and think from both perspectives, its a business yes but at the same time their reputation speaks for themself and thats why we love them! I find it amusing that at first You said "Mind Your own business" but later you were curious about their business when not getting the reply You hoped. From what we know from trading, usually most (retail) traders are wrong and the same can be applied to other life situations, e.g They probably dont even need these little challenge fees as most people think they are "living off them"....
@Vitek-ftmo Why do you switch the crypto market on an off at weekends unannounced? I've entered a position about 2 hours ago on BTC and now the market is closed? Please sort your weekend trading out, or remove weekends from required trading days!
{quote} They will never give real money to you. They can open another one demo account for you. They will wait until you break another made-up artificial rule (that has nothing to do with trading). Then they just take your money and everything starts all over again.
On the FTMO Account, you just need to respect the Max Daily Loss, Max Loss, the restricted news and the restriction of holding your positions if the market closes for 2 hours or more.
With the Swing account type, we’re talking only about the Max Daily Loss and Max Loss rules.
Hii Just a random question that been in my mind Since ftmo uses wise (previously wisetransfer) to send money and make bank transfers, why don't you just add wise as direct payment option ? Like you have skrill, wise now allow transfers between wise accounts, with 0 fees and it's instant transfer, it would be much better for ftmo to add it as a direct payment option Thanks
{quote} If many traders using same EA suspend because maximum allocation rule My doubt is why suspend them if they all are making profit without drawdown ? ( btw I am planning to trading with EA by manual intervention so there is no same strategy )
Hi, I'm about ready to sign up with FTMO but was wondering if there are any discount code coming up with the July 4th holiday? Thanks
There we go guys, that's all for today's update! Enjoy your weekend and I'll see you all next Friday.
Signing off,
Vitek
- #8,767
- Jul 2, 2022 9:05am Jul 2, 2022 9:05am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
I am looking to sign up for FTMO but I am wondering should I be better off with a normal account or swing? My trades typically last 2-3 days. Is there any other differences between a normal account and to a swing account that I should know about? I was told by a friend that I should consider CTI over FTMO. Why should I use FTMO? Thank you.
Risk Management is of utmost importance!
- #8,769
- Edited 9:24am Jul 4, 2022 4:05am | Edited 9:24am
I am a professional trader and I wonder if anyone got money to manage? You can see my earnings here: https://www.mql5.com/en/signals/1538665
On paper, it shows that this trader is up 303%. However, you can see that his deposit is a total of 43.7k and his profit is 17.7k. This is a ROI of 40.5%, not 303%! Even if you simply assume that he made all his 17.7k profits on the initial deposit, it is still 88.5% ROI, not 303%.
So how did he achieve this 303% ROI? He is exploiting a known glitch on MQL5-by making a subsequent deposit, it somehow registers as a ROI indicator and pushes the ROI percentage upwards.
One can argue that he made huge profits and then made more deposit to accelerate growth, but this is untrue because you can see that he made huge withdrawals! The deposit was done to inflate the ROI percentage.
This is a very common exploit on MQL5 and the reason why despite his "303% ROI", he only has one subscriber.
You can reach me on Telegram @ KramerFx
- #8,770
- Edited 5:42am Jul 4, 2022 4:13am | Edited 5:42am
- | Membership Revoked | Joined May 2022 | 50 Posts
{quote} This is not a thread for you to advertise your scam. Be wary of dealing with this person, he is trying to false advertise to trick people into investing with him, making use of a known glitch on MQL5. {image} On paper, it shows that this trade is up 303%. However, you can see that his deposit is a total of 43.7k and his profit is 17.7k. This is a ROI of 40.5%, not 303%! Even if you simply assume that he made all his 17.7k profits on the initial deposit, it is still 88.5% ROI, not 303%. So how did he achieve this 303% ROI? He is exploiting...
I am sure you are illiterate and blind.
All deposits and withdrawals of funds are visible in the monitoring.
Look at my monitoring on another site:
https://www.myfxbook.com/members/Aca...e-gold/9559771
www.mql5.com/en/signals/1538665
- #8,771
- Jul 4, 2022 9:23am Jul 4, 2022 9:23am
{quote} I am sure you are illiterate and blind.
This 40.55% is exactly what I said in post #8,769.
You can reach me on Telegram @ KramerFx
- #8,772
- Jul 4, 2022 9:39am Jul 4, 2022 9:39am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
{quote} Thanks for proving my point. {image} This 40.55% is exactly what I said in post #8,769.
Risk Management is of utmost importance!
{quote} Thanks for proving my point. {image} This 40.55% is exactly what I said in post #8,769.
You judge by yourself, since you are a scammer and do not show your monitoring, but only speak in words, but earn profit and lure investors with promises!
https://www.forexfactory.com/thread/...8#post14053968
You don’t know how to trade and therefore you don’t know how profitability is calculated in monitoring...
Once again I tell you to look at the input and output of money!
www.mql5.com/en/signals/1538665
- #8,775
- Jul 4, 2022 10:02am Jul 4, 2022 10:02am
{quote} You judge by yourself, since you are a scammer and do not show your monitoring, but only speak in words, but earn profit and lure investors with promises!
For me...it can be summed up in one video:
Inserted Video
You can reach me on Telegram @ KramerFx
- #8,776
- Edited 10:15am Jul 4, 2022 10:03am | Edited 10:15am
- Joined Aug 2018 | Status: Joyful and Proud | 2,001 Posts
{quote} You judge by yourself, since you are a scammer and do not show your monitoring, but only speak in words, but earn profit and lure investors with promises!
Risk Management is of utmost importance!
- #8,777
- Jul 4, 2022 10:08am Jul 4, 2022 10:08am
{quote} You've been exposed. Your really gain is 40%. That's not bad, but maybe the many deposits were used to cover what would've been painful losses?
Nah, in all seriousness, it's a known glitch that scammers are exploiting.
You can reach me on Telegram @ KramerFx
- #8,778
- Edited 10:22am Jul 4, 2022 10:11am | Edited 10:22am
- | Membership Revoked | Joined May 2022 | 50 Posts
{quote} Let's leave it to the public to decide who is right... For me...it can be summed up in one video: https://www.youtube.com/watch?v=WO3m4LV8TdU
https://www.forexfactory.com/thread/...1#post14054011
You can only show pictures Photoshop
www.mql5.com/en/signals/1538665
- #8,779
- Edited 11:06am Jul 4, 2022 10:14am | Edited 11:06am
- | Membership Revoked | Joined May 2022 | 50 Posts
{quote} You've been exposed. Your really gain is 40%. That's not bad, but maybe the many deposits were used to cover what would've been painful losses?
as the scammer KramerFx luring investors with pictures from PhotoshopIf you start trading with a deposit of $20,000 for example, then withdraw $19,000.
Then deposit $10,000 and withdraw $10,000 back
Profit will be calculated to the remaining $1000 on which you traded!!!
The absolute winnings will be counted towards the sum of all deposits of $30,000
You can read all the calculation methods on the site where I have monitoring:
https://www.myfxbook.com/members/Aca...e-gold/9559771
You wrote 1,612 posts on FF and didn't know it...
I always thought that every novice trader knows this....
www.mql5.com/en/signals/1538665
{quote} Probably got margin called.
www.mql5.com/en/signals/1538665