FTMO Trading can trade with sufficient leverage to profit when part of a funded trader program. Once you reach this goal, you and your proprietary firm will share the profits. Trading is a vibrant industry where many try to learn as much as possible. However, it’s more than just knowing the basics. It’s also about being able to manage your money and be successful.
Although it is becoming easier to make money trading and learn online, and strategies online, it’s still challenging to have the capital.
Well-funded trader programs offer education, webinars, and support to help you get started. A trading platform of the highest standard and partners with companies that provide funded accounts of the best quality is also essential.
Funded trading accounts offer the benefit of reducing risk. A monthly fee is required to access real-time data and a platform. After you have proven that you have the skills needed, you will be granted access to a funded bank account. Once funded, you can keep up to 90% of the profit or request a payout.
The pros and cons of funding trading accounts:
* Funded traders have the advantage of using the funds as they wish.
* Funded traders have more capital to make more significant market moves than unfunded traders.
* A funded trader is somewhat protected because you don’t have to use your money.
*Licensure can be difficult for sole traders and new professionals. You can trade immediately after becoming a funded trader by obtaining the necessary licenses and certifications.
* Most funded trading programs don’t require you to be in an office. Instead, you can trade from anywhere you have internet access.
Cons of a funded trading account:
*Funded traders must adhere to specific rules and regulations, even though they can use their funds as much as they like. These rules include daily loss limits and maximum positions.
* It takes time to become a fund trader, especially if your lack of knowledge or expertise makes it difficult to start a program immediately.
* You might see lower profits than you anticipated when trading with certain trading firms. They charge huge fees to their traders.
What sets FTMO apart from other prop companies?
FTMO stands out from other industry-leading prop companies because of its positive reputation and the wide range of funding programs they offer.
You can choose a 2-step evaluation challenge with either standard or aggressive risk. This makes it an attractive option for day traders who want to trade with an account of $200,000 and can scale it up. FTMO has a higher profit target than other firms. Step one is 10%, and step two is 5%.
A 2-step swing evaluation challenge is another option. It allows news trading and weekend holdings.
A second difference is that payouts can be made bi-weekly. This means that they are available every 14 days. There can also be a high-profit split of up to 90%. EAs are also permitted.
Because of the many trading strategies you can use, many traders can obtain FTMO funding. Focusing on achieving the profit target while avoiding exceeding the maximum daily loss or maximum total loss limits is essential.
Is getting FTMO capital realistic?
When looking for prop firms that will best suit your forex trading style, it is essential to assess the trading requirements. A company that promises a high percentage profit split on highly funded accounts sounds excellent. However, if they expect high % monthly gains with low maximum drawdowns, their chances of success will be very slim.
FTMO seems like a great option to fund your project. You must pass two steps of the Evaluation Process.
The Evaluation Process rules are realistic as the Profit Target is 10% (20% aggressive risks) and step 2 only 5% (10% bold risks). There is a maximum daily loss limit of 5% (10% aggressive risk) but no maximum total loss. You can use EAs (news trading, weekend holding permit) to hold trades overnight.