Ftmo reddit. I also got some reason leaning towards ftmo just a bit of a feeling but not liking it as double the price and a bit more restricting. The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. S. So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! Welcome to FXGears. The reviews and testimonials are all 100% organic. But here is the problem: is FTMO using the same business model ? Especially because they claim they use their risk management for demo accounts connected to live markets. 1% with FTMO and +4. There seem to be quite a few users leaving negative reviews. For example, a U. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. I have come along way! Please share your experience with trading or even FTMO :) Welcome to FXGears. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. 18 votes, 49 comments. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. Just a heads up in case anyone was looking at doing the challenges. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. FTMO official response: Hi there folks, thanks for your comments. 9 pips away, also had the same trade on FTMO that did not get stopped and went on to take profit. i think ftmo has better spreads, i like mff due to being bias as my first prop firm. I’m not sure ftmo suits low time scale scalping. Swing traders can go through a multi-month drawdown even with a profitable strategy, b As I'm wrapping up with my FTMO challenge, one thing I would like to know but cannot find any information on is once you become an FTMO trader, what happens at your monthly profit split if your account is in a slight loss but you haven't breached any of the drawdown rules during that month? Say you end the month at $199,000 on a $200k account. which is more than enough to pay out the traders that do make money (90%+ loose) Sorry OP but that's a dumb question. If you pass it, you get funded. It is nothing. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. Same here. You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. I guess the main questions are- is that the best way to do this, should I just hire a CPA (suggestions?), and are any of you trading for FTMO/how are you paying your taxes (if you are US based)? Welcome to FXGears. This is my 3rd time with FTMO. 34 votes, 61 comments. FTMO basically, made a two-step process to check out your trading performance. 8 days of trading, 259 trades, Profit factore 2. You have to be profitable to be able to make money on their Welcome to FXGears. i like that maximum drawdown is 12 percent on mff and cheaper too. Looking for a new prop firm after MFF has been dumped. -Share FUNNY Trading With FTMO I’m fairly certain there are restrictions on certain news evens across relative pairs. Let's say you trade a tripple EMA crossover strat on the 5m. Spread on limit orders is also rediculous. 8 - Win rate of 55-60%. You made 9. I got slipped 4. I personally trade with them, but you have a tight margin of error to work with. Hey Guys, just passed a demo challenge in 5 days on FTMO, so happy! I'm not selling anything, not selling my EA, not selling… It's Wednesday and that means we once again spoke with a few of our new FTMO Traders to ask them about their trading journey. FTMO is double the price and slightly harder but I should be able to pass that as-well just wondering if any of you guys use any or both prop firms and what you would recommend. com, a trading forum run by professional traders. I'm a little biased though because I also trade bitcoin in addition to forex and the MFF's crypto spreads are horrendously garbage imo. Trying too hard and studying too hard has diminishing returns and is counterproductive. 46 :D Soooo happy Good afternoon Traders! I have successfully passed my $100K FTMO challenge. For now this is the end of my journey with FTMO as those who have been following my progress know I develop an algo in the MQL language. Hi guys, Hope all is well. One piece of advice for people starting the FTMO Challenge now. Mar 4, 2024 · Can FTMO be trusted? FTMO is a popular prop company. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. Trading is hard. Reply reply When MFF imploded , I wanted to buy a 200k FTMO account, but I decided to get 2x100k, one each with FTMO and 5%ers to spread the risk out of another implosion. M1 lets you earn, invest, spend, and borrow all on one financial platform. There is no way you'll keep that FTMO account long enough to see consistent profits. Any advice? On FTMO's YouTube channel, I was watching one of the videos about the process and they said in the video that you don't need to contact them because they already know your account is ready for the next step. I don't think you're going to deny that an 85% winrate with a 10:1 average RRR for a profit factor of 61 is unsustainable. Very happy with myself and my progress, especially that I started trading less than a year ago. I mean I'm not a prop firm fan at all really but 5%ers sound like they are probably geared more towards swing traders. Similar trade on FTMO did not slip, another trade I got stopped out when the price was 0. Unfortunately, many are not quite right and many are misleading. For swing traders, it's a great improvement too once they actually get the funded account. . But they do not provide any more details. IMO, MFF only beats FTMO with better evaluation requirements. FTMO is reputable. 9 pip spread on Tokyo session is unacceptable, I get 0. But for the challenge, they're faced with the same problem as before. so let me clear things up: your trades never get placed in a real market. FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. The FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. But to your point about increasing from $140K to $300K: are you seriously proposing that a reasonable person, acting prudently, would let $160,000 sit in a a non-intrest-bearing-account if there was the slightest chance they may never receive that money? We would like to show you a description here but the site won’t allow us. They were kind enough to share their experience and even several tips that helped them pass through the Evaluation Process, so do not hesitate to take a few moments and get inspired by their journey in our new article! Hallo Geldzaken, Ik zal binnenkort officeel een handelaar zijn onder FTMO (een prop firma die handelaars hun kapitaal geeft om te traden). FTMO's 70/30. I used to commented on youtube about how bad the slippage and spread was on MFF so I used FTMO even though FTMO is harder. Be patient, manage risk, nobody is pointing a gun at you, If you end up not making the profit target it's perfectly fine, you will try the next month for free. FTMO recently blocked new and existing US clients from purchasing new challenges or trials. Also live account cant buy you a peace of mind since anybody would rather lose their funded account than blow their live account worth of $3. It sounds simple but please don’t underestimate it. - To be with other like-minded forex traders. Do my statements make sense? If yes, why would anyone not go for a swing account? In a weird way, when I treat my FTMO accounts and personal account (connected with social trader tools) like demo accounts, I stop caring so much that it messes me up. The issue here is that you see all the 'success' stories and no failure stories. Took alot of shit from other people. news announcement would carry certain rules around trading the event. 4k + 4. In this review, we will explain what you need to know about its safety and regulation before opening an account. in short it seems like they cheat by making you lose the money you invested to do some challenges to get an account with them (propfirm). Please leave your thoughts in the comments. 4k and an end balance of 110k which suggests you must have been about 4% in drawdown on the account in the first place. There's no time limit, so you can tweak and adjust along the way to get getting funded. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. I've done challenges on both and I personally prefer FTMO. 0. 5-1. I still think FTMO is a great short term idea. Damn thinking back I was smart af. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Nu weet ik dat de belastingen bij forex rond de 1-2% liggen, wat geldt bij handel van je eigen kapitaal. 3 pips on USDJPY, no rollover no news, London session. Hi guys, I just fully figured out what went wrong SEQUENCE OF EVENTS: I lost -$1021 in the morning, proceeded to angry trade immediately and chickened out after 5mins after for an extra loss of -280 (Now total loss off -$1301) Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. Now they have removed US clients access to MetaTrader and are pushing DXtrade instead. I haven't seen their spreads but I do know they use live accounts for their challenges unlike FTMO and FT etc. The real question is do YOU have a consistent and profitable method? That is the real question. I just completed my 4th payout with FTMO today and never failed their challenges. The max daily loss is the thing you need to watch out for. Here are my findings: WHAT I like about FTMO? 😀 For new traders, FTMO is a good place to start. You can't open or close a position on certain pairs 2 minutes before or after a news release comes out that effects those pairs. Just wondering how any funded traders on here deal with the news rule on FTMO, that a trade cannot be left or entered within 2 min either side of the news release? All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. It's a huge improvement for day traders at least. I learned a lot in the past months, backtested a lot every fucking day mate. Folks just need to spend more time studying and WAIT UNTIL THEY ARE REALLY READY instead of chasing funded accounts too soon. in reality people will say ftmo is superior, i think u dont have to leave ftmo and can have both of them at once. 5% with the 5%ers, all due to the spreads. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. This serves as a testament, however, of how badly designed the FTMO challenge is. The latest posts from @FTMO_com seems like you guys have not understood how ftmo works. -ftmo's business model is based on the failed challenge fees. 2 on FTMO. Let's say some other trader in another part of the world also happens to trade the 5m EMA crossover strat and takes the same trade as you. I have 2 questions: 1- When have you received your account after passing the challenge? 2- When do I receive the refund for challenge & how do I receive it? Side note: I have tried 7 prop firms since last year. 5k With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Now we can trade through high impact news and hold runners over the weekend if we want. You'll learn so much more about yourself and your trading style and gain real time experience. so it's unlikely their spreads are better. M1 is made for those looking to build their wealth using powerful automation and topflight rates. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. You can trade your FTMO Challenge, Verification, and FTMO Account on some of the most popular retail platforms – MetaTrader 4, MetaTrader 5, DXtrade, or cTrader. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. Welcome to FXGears. I felt ready, and started my first ever FTMO challenge on Monday gone, ended up making 9% this week and I am around €70 from the profit target of €1000. I traded the demo account on FTMO with 40k for 2 weeks and reached 20% and also passed all the rules, for me its time for a real challenge. FTMO is legit, and I assume they have a lot of very successful traders. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". Obviously ftmo is the next biggest competitor. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. FTMO gives a short time to make 10% profit, which means that traders are forced to trade aggressively and implicitly increase the risk of losing and by this they have their future insured for FTMO because they live off the money of those who lose their fees when they buy a challenge. Hello, good day everyone. Getting fucked on market orders hard. You initially pay for a challenge account. You need solid trades and mostly wins if you don't want to risk losing the account (I have lost 1 account total). Guys i see to much bad news on borkers cfd like FTMO, MFF… and others. 34 votes, 48 comments. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. The true advantage about FTMO is that when you passed the test, you get the refund so it didnt cost you at the end. Even on Gold I notice there spreads can get a little high. I am so hyped and a post like this motivates me a lot. FTMO does have some downsides though the biggest being the news restrictions. Anyway, I linked the two accounts to my trade copier, and the exact same trades have resulted in +4. dhhn xwokzjl oiupmn spgp mdw hhmna wosj ohu mmtoq kcaruoa