FTMO Review

FTMO Forex Broker Review 2024

FTMO Review: Do you have what it takes to be a FOREX trader? What about a trader who gets paid to trade? It sounds too good to be true if you ask me. But is there more to this than meets the eye? In this FTMO review, I’ll dive deep into what it takes to be a successful trader with FTMO.

Chart by TradingView

Widely known among Forex Traders, FTMO is an online proprietary company that gives money to traders. Sort of. You need to pass a rigorous challenge to unlock the FTMO bank. Their sole mission is to scout successful forex traders and groom them into Fund Managers. FTMO funds the accounts and then allows their proteges to trade within them. The move is bold as the traders get 70% of their profits without risking a dime of their own money.  

They first appeared in 2014 under the name Ziskejucet. CZ, the project was initially geared toward residents of the Cheech Republic. In case you didn’t know, ‘Ziskej Ucet’ is Czech for ‘Get your account.’ 

Fast forward three years, with popularity soaring, the project secured more capital. With an influx of cash, ziskejucet. Cz was launched internationally under the name of FTMO.com. 

As of today, you can still find ziskejucet.CZ is online, and it’s still fully functional for CZ residents. Let’s continue with this FTMO review.

FTMO Website Review

What Makes FTMO Different?

Let’s take a look at this FTMO review a little bit closer. Unlike their competitors, FTMO provides their traders with more than just capital to trade. Traders are provided with various tools, from daily fundamental and technical analysis to account snapshots and, most importantly, access to a trading psychologist.

Yes, you read that correctly – a Trading Psychologist. She’s pretty much the equivalent of Wendy Rhoades from “Billions.” How many of you reading this now even knew that was a thing? Beyond even that, you can play before you pay. FTMO offers a free trial of the Challenge, so you can play around and learn the game’s rules before paying the registration fee. Come to think of it, I want to try it. 

Have I got your attention yet? Well, I hope so, as this leads me to my next point, the burning question:

Is the FTMO Challenge Legit?

Challenge is, without a doubt, the most accurate name for this. It’s a challenge and not for the faint of heart. Before FTMO opens their coffers, aspiring FOREX traders must undergo a two-step vetting process. First, the “Challenge” stage is explicitly tailored to identifying trading talent within the applicant.

For those lucky enough to have the talent, you can move on to the “Verification” stage. During Verification, FTMO places you in their Proprietary Trading firm. With this placement, you get access to the coffers and the ability to manage up to $100,000 of capital.

Hold on to your seat for this; you get to keep 70% of the money you make! But there’s more to this than that. The company will cover your losses….hum…I think I will go ahead and try my hand at FOREX, haha. 

For those of you who think you have what it takes, you need to first register with FTMO. Once that step is complete, you must sign up for the Trial or Full Challenge option. 

Regardless of the option you choose, a prompt will appear asking you to provide your general information – not unlike registering for a brokerage account. Once this is complete, FTMO sends you an email for you to confirm your account. 

For up to 30 continuous days, the Challenge is the first step in your evaluation as a trader. You can shorten this stage if you meet the trading objectives and break no rules. Remember that you need at least ten trading days out of the 30 to finish sooner.

FTMO Challenge Criteria Review

  1. A minimum of 10 trading days, a maximum of 30;
  2. Meet a profit target of 10%;
  3. Daily losses cannot exceed 5% of total equity;
  4. Total losses in the account can never exceed 10%*

*Be careful, as “total loss” according to FTMO refers to the drawdown. Drawdown is based on equity, so any time your account equity dips below 90%, you’re automatically disqualified. Not only are you disqualified from the Challenge, but you lose your registration fee. 

Trading Rooms Stock Signals and Trading Alerts Stock Watch Lists
DESCRIPTION Bullish Bears offer trade rooms in our Discord. Our chat rooms include penny stocks, large caps, options, and futures We offer stock signals and trade alerts through our watch lists and Discord bots using Tradytics Swing trade and day trade watch lists with hand-picked symbols that have the best chance of breakouts. These are stocks to watch

“Verification” Stage

If you’re lucky enough to pass the Challenge, you still have your work cut out. After the Challenge comes the Verification stage, where your consistencies are tested: Will you be a one-hit-wonder, or will you consistently hit it out of the park?

Luckily, Verification is somewhat relaxed compared to the Challenge so that you can sigh a little relief. Here, your Profit Target is cut in half, and you must survive and consistently thrive for 60 days. Like the Challenge phase, you can finish early but need at least ten trading days. 

While in the verification stage, new traders must meet the following criteria:

  1. A minimum of 10 trading days, a maximum of 60;
  2. A minimum of 50% of your trading days must be positive;
  3. Reach a profit target of only 5% – remember the challenge phase required 10% 
  4. Daily losses can’t exceed 5% of your total equity.
  5. Total losses on the account can never exceed 10%* (Drawdown)

Preparing Yourself For FTMO

As straightforward as this might sound, it’s rarely such an easy process. However, you should have no problem passing the stages with training from Bullish Bears. Their course material is extensive but manageable, and the team does a fantastic job breaking down the concepts for easy understanding. 

A live trading room is also available to members every morning. During these sessions, their professional team will interpret the market with in-depth stock analysis. The best part is that all of this material is recorded and posted, so if you cannot attend, you can watch it later and get caught up.

FTMO Stock Price and Symbol: Are They Publicly Traded?

Investors cannot purchase shares of FTMO because the company is privately held.

Final Thoughts: FTMO Review

FTMO is a solid choice for those traders who want to get funded. We found in our FTMO review that they have many helpful tools and the ability to play before you pay; it is a selling point, in my opinion. If you’re committed and willing to learn, what do you have to lose?  

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