FTMO Challenge: fees, benefits of joining
The FTMO Challenge is a unique opportunity for aspiring traders to grow their trading skills and become proficient in the financial market. The challenge is divided into four stages that provide valuable knowledge and insight into the world of trading.
Whether you are just starting out or a professional trader looking to sharpen your skills, the FTMO Challenge provides substantial benefits that range from an initial capital injection, low fees and exciting rewards such as a six-figure trading contract.
This article aims to provide an overview of what the FTMO challenge entails, as well as its cost structure and tips on how to successfully complete this trial period. Further down, we will also look at an example of someone who has passed the challenge with flying colors.
What Is the FTMO Challenge?
The FTMO Challenge is a unique opportunity for aspiring traders to gain the skills and experience necessary to become successful in the financial markets. The challenge consists of four stages which provide comprehensive training on topics such as risk management, trading psychology, technical analysis, and more.
With an initial capital injection of up to $200K provided by FTMO, low fees, and a potential six-figure trading contract as rewards for completing the challenge successfully, this trial period offers substantial benefits that can help any trader learn how to trade with confidence and profitability in no time.
Furthermore, experienced traders may also benefit from this program since it provides an opportunity for them to sharpen their existing skillset and gain valuable insights into the world of trading.
| FTMO | SurgeTrader | Kinglab | |
|---|---|---|---|
| Fees | Normal risk: Starting at 155.-- for 10,000 Aggressive risk: Starting at 250.00 for 10,000 |
Audition fee starting at 250.000 for 25,000 |
N/A |
| Minimum Deposit | 155 | 250 | N/A |
| Account Currencies | USD, EUR, CAD, AUD, CHF, CZK |
USD | N/A |
Why Join the FTMO Challenge?
By joining the FTMO challenge, you will be provided with comprehensive training on topics such as risk management, trading psychology, technical analysis and more which will enable you to make informed decisions when it comes to your trades. These skills are essential for successful trading in today’s ever-changing market environment.
How to Successfully Complete the FTMO Challenge
Successfully completing the FTMO Challenge requires dedication and perseverance. Firstly, it is important to keep track of your progress throughout the four stages in order to ensure that you are staying on top of all expectations and requirements set forth by FTMO. It is also essential to develop a comprehensive trading plan that outlines your objectives, methods, risk management techniques as well as entry and exit points for each trade.
Additionally, traders should take advantage of the provided educational material in order to gain valuable knowledge about market dynamics which will help them make informed decisions when entering trades.
Finally, traders should be mindful of their emotions while trading; having a clear head helps with making better decisions which can ultimately lead to greater success over time.
Stages of the FTMO Challenge
FTMO Challenge: Step 1
There is a 30-day challenge duration for all FTMO accounts. Hence, 30 days is the maximum number of days that can be used to achieve the defined goals. You will advance directly to Verification if you reach the profit target faster while adhering to all rules.
However, 10 trading days are the minimum required. If your target is archived within five trading days, you must place trades on five additional days. To comply with the rules, you can make small-risk trades within the first 5 days of archiving the profit target.
To begin the challenge, you only need to pay once. Pricing varies according to the amount of funds in your trading account. Verification (step 2) and FTMO Trader (step 3) have no additional fees.
When you become a funded trader, the FTMO Challenge fee is refunded as part of the first profit split.
Verification: Step 2
As a funded trader at FTMO, you must pass the FTMO Verification. The amount of time you have to reach the profit target is doubled. The Verification process must be completed within 60 days.
Verification is free once you have completed the FTMO Challenge. 10 trading days is the minimum requirement for the FTMO Challenge.
To accomplish the profit target goal, you must trade for at least 10 trading days over a 60-day period. You get an offer from FTMO once you complete the Verification step.
FTMO Trader: Step 3
After completing the FTMO Challenge and Verification, you have now demonstrated your value to a prop trading firm, earning a funding offer. During Steps 1 and 2, you archive this goal by managing risk, developing excellent trading skills, and following a disciplined approach.
The third step is to archive your goals for becoming a funded trader. From this point on, your FTMO account will be connected to the live account of the company. Profit splits are typically set to 80:20 for all FTMO traders. Therefore, 80% of the profits generated are available for withdrawal to your bank account.
A unique aspect of FTMO is that it has a scaling plan, and it's likely that you'll be able to archive a payout ratio of up to 90:10.
FTMO Challenge Fees
For the normal risk level, the fee starts at 155.00 for a 10,000 account. For the aggressive risk level, the fee starts at 250.00 for a 10,000 account.
An Example of the Successful Completion of the FTMO Challenge
A trader named James Westbrook was able to successfully complete the FTMO challenge. He used an automated trade helper to assist him with his trading. He built and optimized a trading robot, performed trial and error trading, used indicators, utilized economic news charts, and consumed online educational material, and more to hone his strategies. He also used support and resistance, patterns, RSI divergence, and pullbacks/reversals.
The FTMO Challenge: Top 5 Tips
The FTMO Challenge is a comprehensive trial period designed to equip aspiring traders with the skills and experience necessary to succeed in financial markets. To ensure success, here are five useful tips that any trader should take into account:
Develop a sound trading plan before entering the challenge. This includes setting clear entry/exit points for each trade as well as proper risk management techniques.
Have an understanding of fundamental and technical analysis.
Stay up-to-date on current market developments through news feeds or research papers.
Practice effective time management while executing trades to prevent unnecessary losses due to inappropriate decision making caused by fatigue or impatience.
Maintain a positive mindset during difficult times and avoid overtrading.
Difficulties With Passing the FTMO Challenge
Traders have various difficulties when passing the FTMO challenge. They include:
Having a maximum loss limit and a minimum trading day limit
Lack of support given to traders
Improper risk management
30 days often isn’t long enough to learn trading
FAQ
What is the FTMO Challenge?
The FTMO Challenge is the first step of the Evaluation Process. In order to advance to the Verification stage, you must succeed here. Demonstrate your trading skills and discipline by observing the Trading Objectives.
Do you keep profits from FTMO challenge?
Yes. FTMO will keep from 10% to 20% of your profits as the Profit Split, while you will receive up to 90% of your profits from the FTMO Account.
What happens if you pass FTMO challenge early?
By passing the Trading Objectives sooner, you will not have to wait for the remaining duration days. It is not necessary to wait another 19 days if you complete all FTMO Challenge objectives in just 11 days. You will be advanced to Verification as soon as possible.
Is FTMO a monthly fee?
No. There are no hidden fees or additional charges. All the costs associated with the FTMO Challenge are covered, including the Verification. With FTMO, there are no recurring fees
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.