FTMO profile details: key information about the company
FTMO is one of the fastest-growing proprietary trading firms offering funded trading accounts. FTMO is a suitable platform for seasoned traders to excel and unleash their full potential.
Proprietary trading is an exciting way for investors to speculate the financial markets with serious capital and reduced risks. In this review, we will cover general information regarding the trading platform, the history of the entity, the services offered, and the FTMO Challenge. Let’s get right to it!
What the Profile on FTMO Includes
FTMO is not a broker and doesn't accept any deposits from traders who want to trade using the platform. Nonetheless, traders still have to pay a relatively low test cost starting from €155. This is fair in comparison to most companies in this sector that charge from €400-500. Traders have to complete a 2-step evaluation course consisting of the FTMO Challenge followed by verification.
If you successfully pass both the FTMO Challenge and the verification, you are offered a placement to trade for the Proprietary Trading Firm. Successful traders are given accounts with up to $400,000, and if you manage to stay consistent and profitable, you receive a 25% increase in your account every 4 months according to the FTMO scaling plan.
By the end of this profile, you will have all the information you need to know about FTMO.
Prop Trading Accounts ComparedFTMO General Information
As a Proprietary trading company, FTMO allows skilled traders to explore and make trades with considerable capital while curtailing risks. All you need to do as a trader is to demonstrate that you can manage risks. You need to meet the set-out FTMO trading objectives and show that you are a disciplined and experienced trader. The company doesn't set out a specific trading style to use, meaning this is entirely up to you. You can decide on the type or number of instruments you trade, and even the position size.
What the company does, is that they have requirements set for the maximum allowable daily loss, total loss, and target profit level. You can try out your hand on the 100% identical free trial version of the FTMO challenge. The trial version lasts for 14 days, after which you are required to sign up for an FTMO challenge account. This will allow you to evaluate and determine if the platform suits you.
Contact Information
You can get in touch with FTMO 24/7 all year round by email and live chat. For phone calls, it is Monday to Friday from 8a.m to 5p.m (CEST). Their customer support is highly responsive and offers support in 18 different languages. You don’t require any registration to communicate with the customer support service.
| Official Site | https://ftmo.com/ |
| Contact Details | Email: support@ftmo.com Phone: +442 033 222 983 |
| Registered Address | Purkyňova 2121/3 110 00 Prague, Czech Republic |
Enterprise History and Synopsis
FTMO.com was initially conceived in 2014 in a small Prague office with a handful of day traders, including the future co-founders, and was initially called Ziskejucet.cz. The idea came to life a couple of years later when they started operations in 2017.
The company is headquartered in Prague and has several accolades to back them as a top prop trading firm. FTMO has won the Deloitte Technology Fast 50 award for 4 years in a row from 2019 to 2023. The award recognizes the fastest-growing tech companies in Central Europe. Today they have traders registered in more than 180 countries spread across the globe.
The company's fast-growing success is evident in the over $85M that has been paid out to FTMO traders cumulatively. The firm also records more than 16M trades opened every month. In the past year, more than $27M has been paid out to traders from real accounts.
FTMO Executive Team
The FTMO team is a combination of enthusiasts and professionals in various fields. The team is headed by the co-founder & CEO Otakar Šuffner, and co-founder & CTO Marek Vašíček. They also have a skilled team with talented individuals supporting them.
7 Best Forex Prop Firms ComparedFTMO Customer Base
As we mentioned earlier, the firm has registered traders in over 180 countries. With its increasing success and popularity, this figure is projected to grow in the future. FTMO is available for traders all over the world without any special requirements. They should only be at least 18 years, know how to trade profitably with proper risk management, and are not located in Syria, Iran, or North Korea.
Geographic Distribution of FTMO Customer Base
| Country | Popularity in Percentage Form |
|---|---|
| United States of America | 19% |
| Afghanistan | 8.4% |
| India | 6.7% |
| Algeria | 4.2% |
| Thailand | 4.2% |
| United Kingdom | 1.9% |
| Côte d’Ivoire | 1.8% |
| Vietnam | 1.7% |
| Nigeria | 1.3% |
| Rest of the World | 40.8% |
Legal Entities and Regulation
It is important to keep in mind that FTMO is not a brokerage and therefore it is not licensed or regulated. Nonetheless, the firm works in full accordance with European Financial Legislation. The company doesn't accept any third-party deposits but allows traders to make profits trading through funded accounts.
Overview of Products
FTMO offers a classic set of trading instruments, ranging from currency pairs to cryptocurrencies, metals, indices, stocks, and even equities via contracts for difference (CFDs).
They offer attractive leverage of up to 1:100. FTMO also utilized the popular MetaTrader4 (MT4), MetaTrader5 (MT5), and cTrader.
FTMO Services
As we have mentioned repeatedly, FTMO allows users to trade using company capital via funded accounts. You have the choice between a normal account or a swing account. With a normal account, you can choose the risk level, and the account balance. Both normal and aggressive risk levels come with account balances of $10,000, $25,000, $50,000, and $100,000. Accounts with normal risk levels come with a $200,000 account balance.
Global traders who make it through the evaluation stage sign a contract with FTMO Trading Global s.r.o. while traders from the United States sign contracts with FFTMO Trader US s.r.o. If you are interested in trying out trading with FTMO, head over to their official website and get started.
FAQ
Is FTMO Legit or Scam?
FTMO is a legitimate platform that offers traders the opportunity to make maximum profits through funded accounts with minimal risks. It is best you first understand how the platform works before venturing into it.
Is FTMO a Pyramid Scheme?
No, FTMO is not a pyramid scheme. It is a proprietary trading firm.
Is Trading with FTMO Halal?
Certain aspects of trading, such as the use of margin, are typically considered Haram. However, Islamic traders with FTMO can configure Sharia-compliant swap-free accounts by speaking to the customer support team.
Does FTMO have any hidden or recurrent fees?
No, FTMO doesn’t charge any hidden fees. Once you pay the FTMO challenge fees that is all.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.
The topics he covers include trading signals, cryptocurrencies, Forex brokers, stock brokers, expert advisors, binary options. He has also worked on the ratings of brokers and many other materials.
Dr. BJ Johnson’s motto: It always seems impossible until it’s done. You can do it.