Besides the standard eligibility conditions, you should not have any past or prevailing conflict of interest with FTMO, or engagement in the Forbidden Trading Practices, as laid out in the Terms & Conditions (clause 5.4).
FAQs
Which countries are not allowed to join FTMO? ›
Due to business decisions based on risk management considerations, FTMO does not provide services to clients in Afghanistan, Antarctica, Antigua and Barbuda, the Republic of Belarus, Belize, Bhutan, Bouvet Island, Burundi, Cape Verde, Central African Republic, Chad, Cook Islands, Comoros, Republic of the Congo, Cuba, ...
What documents are needed for FTMO verification? ›Required documents include:
- Government-issued ID: Passport or ID card showing nationality. ...
- Proof of Address: Such as a bank statement, invoice, or utility bill.
We have already written about the martingale principle in forex trading, and we would definitely not recommend this system to our traders.
How many people fail FTMO? ›There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.
Why is MT4 banned in the US? ›The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.
Which is better than FTMO? ›Yes, there are many sites offering similar services to FTMO. These include FunderPro, SabioTrade, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.
Is MetaTrader banning prop firms? ›MetaQuotes, the developer of popular trading platforms MetaTrader 4 and MetaTrader 5, is cracking down on several prop trading firms such as Ftmo, the5ers, etc., and forcing many brokers to terminate their services (if these firms do not comply). This decision has had a negative impact on most prop traders in the US.
Does FTMO really pay? ›Even though FTMO Traders trade with fictitious capital only, they are entitled to obtain a reward in the form of real money if they can generate “profit” on an FTMO Account.
How long does it take for FTMO to verify an account? ›We will be automatically alerted that you have passed your FTMO Challenge and we will proceed to evaluate your trading results accordingly. After approximately 1-2 business days, we will then send you the new account login credentials for the Verification stage.
Does FTMO give you a second chance? ›You can get a free retake for the FTMO challenge if you fulfill 3 out of the 4 trading objectives and do not breach any of the FTMO rules. If, at the end of the challenge, your account ends up in profit, with all positions closed, then you are eligible for a free retake.
What is the max risk for FTMO? ›
For example, we can generally recommend to our FTMO Traders not to risk more than 1% per trade idea to help them with adopting safe risk management principles.
What broker does FTMO use? ›MetaTrader is the most widely used program among forex traders, and that applies to FTMO traders as well. The program's environment is intuitive and straightforward, however, its modifiability gives modders space to make it even better and user-friendly.
Can you hold overnight on FTMO? ›The main difference from the Normal account type is the ability to hold positions overnight and over the weekend even after passing the Verification. The Swing account is also not restricted from trading macroeconomic news.
Who can join FTMO? - FTMOFTMOhttps://ftmo.com ›Who can join FTMO? - FTMO
FTMO
https://ftmo.com
FTMO
https://ftmo.com
Who can join FTMO? Apart from the exceptions listed below, we accept clients globally, as depicted in the accompanying map. No specific qualifications are requi...
How do I become an FTMO Trader? - FTMO
FTMO
https://ftmo.com
FTMO
https://ftmo.com
How do I become an FTMO Trader? In order to become an FTMO Trader, you will have to pass our 2-step Evaluation Process. Step 1: FTMO Challenge. A demo account w...
Frequently Asked Questions - FTMO
FTMO
https://ftmo.com
FTMO
https://ftmo.com
How do I become an FTMO Trader? How long does it take to become an FTMO Trader? I have successfully passed my FTMO Challenge, now what? What capital will I trad...
As of now, residents of Bangladesh, North Korea, Syria, United States, and American Samoa and Puerto Rico are not able to access FundedNext's trading platform. The decision to implement these restrictions is based on careful consideration of several factors.
Why is FTMO banned in India? ›Due to regulatory developments and business decisions based on risk management considerations, FTMO does not accept clients in India, the Russian Federation, the Republic of Belarus, the Republic of Indonesia, Cuba, Venezuela, Sudan, and South Sudan.
What countries are banned from 5ers? ›The Company will not accept any user from any IP address located in a forbidden territory (e.g., United States, Afghanistan, Burundi, Central African Republic, Cuba, Congo Republic, Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea-Bissau, Iraq, Iran, Israel, Laos, Liberia, Libya, Myanmar, North Korea, ...
Is FTMO legal in Germany? ›Banking, financial services and insurance companies such as FTMO are only allowed to operate in the Federal Republic of Germany with state authorisation. The providers may have received authorisation, but this in no way means that the services they offer are of excellent quality.