Founded in the Czech Republic in 2014, FTMO is a global proprietary trading firm. The site recruits traders, and if they pass the first two stages of testing, FTMO will deposit $400,000 into their account. To increase savings, FTMO keeps track of all the transactions. The initial live trading phase results in an 80% payment, with successive steps yielding 90%. The business is regulated locally and operates in compliance with European financial law. How the FTMO evaluation process is the topic of this FTMO Review.
What is involved in the FTMO evaluation Process?
An assessment procedure must be completed before any actual money can be made using FTMO. This process has two parts: the FTMO Challenge and the FTMO Verification.
Step 1: FTMO Challenge
To prove to the prop trading business that the trader can be profitable, trade responsibly, and manage risk effectively, they must complete this phase, which can last anywhere from 10 to 30 days. The corporation claims that the guidelines for this initial stage are appropriate since they strike a good balance between the profit goal and the permitted losses.
Trading objectives include these stipulations.
In contrast, the assessment cost is paid in a single instalment at the start of this preliminary stage; no more payments are required. The package you select, which effectively determines the size of the account you will be managing once you have passed the testing procedure, will determine both the assessment’s goals and the fee required to access the evaluation.
Step 2: Confirmation
The second step of the FTMO evaluation is the verification stage (accessible only if you pass the first), and its primary goal is to verify the trader’s consistency by ensuring that the trader can execute his trading strategy or system profitably over the long term while adhering to the prop firm’s rules.
Since this is just a checkpoint, the trading goals are considerably less ambitious than in the previous stage; for example, the target profit has been cut in half, but the target time to reach it has been increased to 60 days from 10 days. However, since the entire procedure is paid for upfront, this step does not incur additional costs.
What is Funded Trading Program?
With the help of a sponsored trader program, investors may trade with sufficient leverage to generate profits. Once this target is met, the earnings are split between you and the proprietary business. Many people are seeking to expand their knowledge in the trading sector every day, but success requires more than a foundational understanding of the field.
People can generate more money through internet trading, acquiring new skills and methods, and other means, but they still need more financial resources to capitalise on these opportunities fully.
Start on the right foot with the assistance of a well-funded trader programme, which will provide you with training, webinars, and service. The quality of your funded accounts and trading platform are equally crucial, as is working with a reputable business partner.
Traders who use accounts funded by investors have a lower degree of risk. You may have access to real-time data and a robust platform in exchange for a nominal monthly charge. You will be given access to a funded account once you have demonstrated that you have the required abilities. If your funding request is approved, you can retain up to 90% of the money made.
- TopStep
As a best funded trader accounts and a member of the Inc. 5000 list of America’s fastest-growing private enterprises, Topstep has earned the trust of traders worldwide. Every trader must start at the Trading Combine before they can join the sponsored account program. With $50,000, $100,000, or $150,000 in creating capital, you may build a virtual futures trading account that trades in real-time.
- Earn2Trade
There is a Futures-centric Gauntlet Program available in Earn2Trade. You’ll have a “virtual account” in this software. This digital account will have $25,000 in it. Then, you should use this virtual account to make trades for at least 30 calendar days. You have a 10% profit margin to achieve throughout this time frame. Earn2Trade guarantees funding for those who demonstrate trading performance over 30 days. Before trading on Gauntlet mini, you will be required to make a monthly payment. And all your transactions must adhere to specific regulations. If you don’t, you risk having your access to the account limited.
