FTMO Review

4.533 · 217 REVIEWS

Prop Firm

Updated: Jan 17, 2021 · FTMO.com  · Is this your company?
FTMO

Details

Established: 2017
Contact: support@ftmo.com, +44 2033222983

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FTMO.com profile provided by FTMO support, Jun 13, 2018

We look for serious traders. We provide you a capital to trade with. Receive up to $100,000 account. You get 70% of profits. We cover the losses. Join today at FTMO.com

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4.533 · 217 REVIEWS
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Traders Reviews

Adil,
Augsburg, Germany,
Jul 24, 2019,
Guest

Business Model not fair to traders

Service use: Demo

Length of use: 0-3 Months

Unfortunately business model is not fair to traders.
You need to pay a fee to participate which is only refunded after passing the evaluation and verification. Still you will not get fee back You need to trade a live account and fee is only refunded with your first profit withdrawal. All this points to un-fair business model for traders. Stay away !
  2 traders have found this review helpful
Reply by FTMO support submitted Jul 25, 2019:
Hello Adil, thanks for your opinion. Not sure why do you think the business model is not fair. We are the only Proprietary funding company which is refunding the fee and we are very proud of this! Btw this is also clearly stated on our site: https://ftmo.com/en/faq/are-the-fees-recurrent/ and here: https://ftmo.com/en/faq/why-is-there-a-fee/ We have always refunded the fee in 100% of cases so no need to be worried at all. If you have any concerns whatsoever, please get in touch with us at support@ftmo.com and we'll be happy to assist.
George,
UK, United Kingdom,
Apr 27, 2020,
Guest

If you don't realise this is a scam then you are quite some idiot.

Service use: Other

Length of use: Have not used

Only going to post this once. A friend of my son asked me to look at this. I'm a prop trader and have been for over twenty years. I've also been around a bit. All the reviews with glowing praise are clearly bollocks. NO ONE offers risk on accounts for $ 800 up front and then 70% of the profits. Think about it. $ 800 in FX trading is so tiny it's like trying to find a knat's testicle with a welding mask and gloves. But hey ho - go ahead and make the scammers happy and give them your $ 800. And when you work it out that it is a scam, you can go ahead and feel really F...g stupid. Since you are.
  2 traders have found this review helpful
sacramento, USA,
Mar 13, 2020,
Registered user

serious SCAM

Service use: Live

Length of use: 0-3 Months

DO NOT JOIN! listen I am a normal person who trades. the FIRST day I placed a trade my server failed and it lost... I could not see the trade or anything at all. It magically turned back on when I was out of the trade. This happened every time I placed a trade. So obviously I contacted them and told them that I was worried this was a scam. I sent everything that they needed to investigate. They said it was MY fault. I literally sent them a screen recording of my server and they still said it was my fault... IT IS A SCAM. I am an ICT charter member... enough said
  2 traders have found this review helpful
South India, India,
Nov 13, 2020,
Registered user

They Scammed Me

Service use: Demo

Length of use: 0-3 Months

I had brought their $100000 Challenger Account and on the first day itself after they provided the login details and few orders were traded, they changed the password and i could not login to account and eventually they closed my account saying I did not pass. Beware and never join them, you will just end up paying the fee and that is what they want. All positive reviews are not real ones.
  1 trader has found this review helpful
Ulaanbaatar, Mongolia,
May 16, 2020,
Registered user

Strategy restriction

Service use: Live

Length of use: 3-6 Months

I passed both a challenge and verification. But the company said, your strategy involves very tight stop loss which can't be used. And offered me a free challenge and warned me not to use that strategy again. I understand that their real account suffers a loss from slippages due to my tight stop loss. But if they have given us a clear instruction about their minimum stop loss placement in the first place - for instance, 10 pips away from entrance, I'd have happily followed. In this case, they should eliminate the statement - "Trade your own trading strategy with no limits or restrictions.", and impose a minimum stop loss requirement on us.
  3 traders have found this review helpful
Tanja Burger,
Windhoek, Namibia,
Nov 3, 2020,
Guest

FTMO scam with fake results

Service use: Demo

Length of use: 0-3 Months

This happend on 2 of my accounts.
FTMO fails you on max daily loss exceeded when that is far from the truth.

So what happend to me is I failed challenge 1 as stated above.
After I “failed” the challenge I went on trading on this account trying out a new strattegy which ended in a series of losses.
Now please note that had I not “failed” the challenge I would obviously not be stupid enough to try out a new strategy on a paid account. I treated it as a demo account.
I then went and purchased a new challenge.
Sure thing on day 3 I “failed again due to max daily loss exceeded.

At that stage and only that stage did I realize that something is wrong.
I contacted FTMO and told them their daily max loss is not resetting and asked them kindly to sort out the issue. This was on my second account only.

Something told me to check my first account and sure as hell all the daily profit and losses together added to the max daily loss on that specific day.
So yet another email to FTMO.
They are willing to reinstate my account, but not at the balance it was prior to aTHEIR system failing and sure as hell no retake on the challenge.
My question, why should I settle for an account balance less than prior to system failure.
FTMO should take ownership of their system and all the glitches that comes with that.
Be truthful and over rightly if not a new challenge at the very least the balance prior to system error.
Why should we pay for FTMO mistakes?
Is this a mistake or is this the way they scam people to pay for new challenge?
Kind off looks dodgy to me.
 
New Hampshire, USA,
Jun 10, 2020,
Registered user

Serious Problem - Unrealistic Expectations

Service use: Other

There is a really serious problem with this company's requirements to graduate past the initial funded account size. A 34.5% annualized return rate (in 10% four month intervals) is required to move up from the initial 100k to a 175k account in the first year. Don't believe me? Here is their wording taken directly from https://ftmo.com/en/scaling-plan/

"Capital increments on the FTMO account take place in four-month cycles. For a capital increase, the trader has to gain at least 10 added percent points in four consecutive months (i.e., the average of at least 2.5% gain per month)."

This is BAD for two reasons:
1. It is difficult for conservative traders with minimal drawdown to increase their funding. These are the traders most wanted by hedge funds, so it begs the question of what FTMO's goals and motivations might be.
2. It forces traders to "take shots" at increasing their funding, and this may force traders to deviate from their optimal money management strategies.

My advice to improve your advancement/scaling model:
Reward traders for consistency over bi-annual or annual periods. You can still keep the 4-month increase model, but if you have traders who consistently bring in 15-20% year after year who are staying at the initial 100k, they will be gone like the wind. You are ensuring that you lose some of your best traders. But then again, maybe your business model does not rely on profitable trader retention.
  1 trader has found this review helpful
United States of America, USA,
Jan 1, 2021,
Registered user

Bad Servers

Service use: Demo

Length of use: over 1 Year

I gave a 2 star because they payout and overall you can make money with them.

My issue:
The ftmo servers are not good. This is the third time I can remember since they’ve migrated to new servers that they’ve crashed. I was in verification phase and was trading bitcoin on Sunday. Equity was up to $102,800 and I tried multiple time to close. It wouldn’t close and eventually hit my stop loss.

Here I made a great trade and put myself back into position to pass. It’s Friday and still no new account or anything. Barely even any response through email support. They acknowledged it but aren’t willing to replace my verification account.

If you have bad servers AT LEAST help the customer.

Overall it’s not a bad company and withdrawals are fine. But the way they go about things on customer service side of things are bad. Servers aren’t good at all and if they can’t help me when these issues arise, I’ll not have much faith in this company moving forward.
 
New England, USA,
Nov 23, 2020,
Registered user

friendly company, promising platform, not reliable

Service use: Live

Length of use: 0-3 Months

FTMO was very friendly and made me comfortable before I gave them money.

The platform overall is smooth and setup was quick.

Unfortunately, I think their recent "FTMO Server" is less reliable than I understood from reviews of their old service. Market specifications have been wrong several times. Other times they are randomly changed without notice and fixed without explanation. Sometimes the server is down, unscheduled. Crypto trading unavailable on weekends despite promised availability.

Even though there is live support, there is no coverage during US market hours by anyone with authority. So you are left waiting a business day for response, more to resolve if there are followup questions.

So far I have not had any luck getting time restored to my challenge for these issues. I have lost probably 7 out of the allotted 30 days (really, 28, because there is no crypto trading on weekends after all).

I hope these can be worked out and will update my review if we can make this happen. I would love to have a long working relationship with them.
 
John,
England, United Kingdom,
Mar 17, 2020,
Guest

Good company small issue “floating” fees

Service use: Live

Length of use: 0-3 Months

I was trading for the 10k account and my daily loss limit was £500 and my goal for the 30 day was 1000 I made a total of 4,119.76 in 2 days smashing the target but because my “floating” loss was -900 I violated the limit even though that trade later turned into a £3k profit trade. FTMO is legit but I wish that wasn’t a violation as In my MT4 history the most I physically lost was 383 but again “floating” losses ruined it for me hoping they can give me the benefit of doubt as I clearly know what I am doing.
 

Frequently Asked Questions

What is FTMO?

FTMO is a company that runs a program where traders can pay a fee to trade FTMO's real funds under rules set by FTMO and get paid with percentage of the profits they generate by trading.

Is FTMO good and regulated?

  • Is FTMO a good company?
Unbiased traders reviews on ForexPeaceArmy is the best way to answer if FTMO is a good or serious company. https://www.forexpeacearmy.com/forex-reviews/15019/ftmo-forex-training

Please come back often as company services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent FTMO community discussions: https://www.forexpeacearmy.com/community/tags/ftmo/

  • Is FTMO regulated?
FTMO is not a broker. FTMO is not regulated or licensed by any government or non-government bodies.

In other words, there is no designated government or non-government body to supervise the activities of FTMO or to resolve complaints. .

Who can join FTMO?

FTMO doesn't require any qualifications from traders who want to join FTMO.

FTMO accepts traders from all over the world as long as they are willing to join.

What brokers does FTMO accept?

FTMO doesn't impose restrictions on the broker where the trading challenge and verification are carried on.

Traders have choices of their own brokers or the FTMO partnered brokers.

How does FTMO work?

3 main steps illustrate how FTMO works. Keep in mind, to participate this program, participants have to pay a fee.

  • Step 1: Challenge - Participants have to to succeed here to advance into the Verification stage. Prove their trading skills and discipline in observing the trading objectives and strict rules set by FTMO.
  • Step 2: Verification - Participants continue trading to pass the Verification and get ready for trading the FTMO's funding partner's capital.
  • Step 3: FTMO Trader - Participants become traders of the FTMO Trading firm. Trade and receive 70% of the profits generated by their trading.