Is ftmo real money reddit

Is ftmo real money reddit. Trying to pass one of these prop firm challenges isn't easy. FTMO will always be the king of these firms Others will have quirk but FTMO still shines through. I am so hyped and a post like this motivates me a lot. But they do not provide any more details. Passed the first evaluation but failed the second due to emotional trading and holidays season. FTMO only requires you to risk $600 of your own money, not $10,000. I'd say the closest thing to a real con is the 10% profit target. The amount of capital you get is great for easy money, given you pass and get a payout. FTMO will look at their net exposure and adjust it at the portfolio level if it’s too risky. Trade it until you have at least 100 trades, preferably 250. com is a platform that provides traders with the opportunity to trade with real money and potentially join their trading team. But here is the problem: is FTMO using the same business model ? Especially because they claim they use their risk management for demo accounts connected to live markets. Then you are disqualified. Actually that's the separator between 90% and 10%. That's a $10K trade right there. They would promise to fund your trading account with any of their chosen brokers (mostly small brokers located in Cyprus), for up to 100 thousand dollars leverage, but only if you first pay them a certain amount of money in advance for a demo. 9 stars out of 5, based on 5,535 reviews . He got so excited when he made like 2$. , trading my strategy, consistently. I trade on lower time frames with Oanda with the commissions options. 8 - Win rate of 55-60%. However, before you can do that, you need to pass their challenge. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. I guess the main questions are- is that the best way to do this, should I just hire a CPA (suggestions?), and are any of you trading for FTMO/how are you paying your taxes (if you are US based)? If you don't have a way to save up funds for your own accounts FTMO is great if you know how to trade consistently. 3% of people pass the challenges, which is in line with reality. Sorry OP but that's a dumb question. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Last but not least, they are collecting a lot of money from all the people who attempt to pass the challenge and fail. Then I got 2 more accounts and bam- now I'm full time. You have to be profitable to be able to make money on their The issue here is that you see all the 'success' stories and no failure stories. My advice is if you can afford it, go for FTMO , if not MFF. You’re not trading with real money. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. 01 Free Trials of FTMO Challenge do not guarantee automatic eligibility for an FTMO Account 02 Each trader is permitted only one Free Trial at a time (you can delete it and start a new one) Traders can use our Free Trial demo account for 14 days. It paid over $130M to its prop traders per data published on its website. Heres the fact : only your paper dollar you hold is the real money, the index dollar in any trading account is not real. Especially when you are around 7% drawdown. I could definitely relate. Meaning if they are able to trade the fictitious capital in a way that is profitable, proving their skills and the value of data provided in the process, they will 10 votes, 42 comments. Van Tharp’s position sizing book had helped me a lot to navigate and solve the issue. 200K in FTMO allows you to take (relatively) massive lot sizes. you can't overtrade ir take high risk like you trade your own money. This Evaluation Process consists of an FTMO Challenge and a Verification and is specifically tailored to discover trading talents. When you get the money, at first, it doesn't seem real. When it your own money and account, you don't pocket 70% of profits then, but 100%, you won't lose your 600 euro subscription fee, in case any daily loss limit or total floating loss FTMO. Apr 28, 2024 · FTMO has received lots of positive reviews that praise FTMO for their professionalism, transparency, customer service, and payout process. I have provided FTMO: my full name and address, account #, SWIFT code You obviously don't trade with real money. Strategy is a small part of the game, mental preparedness is a big aspect of trading success. Ftmo is good for scalpers and you need luck because is kinda hard to make 10% in 30 days without luck. Me personally, I would rather deposit money into either props with better profit potential and trading criteria or a personal account. Mar 4, 2024 · The FTMO system is safe and works if you apply proper risk management consistently over time, but it is not real money, only leveraged. FTMO is legit, and I assume they have a lot of very successful traders. Just like anything in life, practice makes perfect. the rest, is like a dummy who happy , got certificate yay. Any Canadians with FTMO that can help? I was expecting a profit split from FTMO via bank wire, but apparently my bank canceled the transaction(per FTMO's email). You will get nothing and they keep all the profit from what made and walk away like that. I don't know where you're getting that number. Dont forget you dont ever trade real account, even when youre funded youre trading demo account and then they are using some of the profitable trades on their real accounts. Or trade a small capital and grow it to afford FTMO which is what I’m doing now That tough mate. You only need to pass 8% in the first round and 5% in the 2nd to get funded and drawdown is 12%. Most don't have the money or the time to grow their own personal account. some purists will claim that it's not "real trading" and they're not a real proprietary firm (OK they're more of a 'scouting firm' if you wanna split hairs), but that doesn't mean you can't make a living with them. The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold… The absolute best FTMO Traders can get an opportunity through our Premium Programme to become professional traders in Quantlane, a proprietary trading firm that manages its own real capital. I wouldn't blow $10K trading just because of FTMO's ruleset. Futures props won't do the kind of weird thing that Forex props do like keeping you on demo, so you'll be trading with real money. I started my challenge on the Monday and I failed in like a day because of that, It doesn't help that on my personal I swing and I let trades run loose. The support is excellent and the whole process has been very seamless and transparent. Although some Forex online prop firms do also trade with real capital and don't keep their traders on demo. Just curious whether it becomes a taxable event once it is withdrawn from the account into real money or if the tax is accrued… Mar 20, 2023 · FTMO makes you manage your money and trade in a sensible and professional way. Hey everyone, i started frmo about a month ago, it took me about 2 weeks to pass the first challenge, last week I started the second phase of the challenge and the whole time I've just been in loss, I've been trying to trade in a disciplined manner and haven't been risking more than . Step 1 – FTMO Challenge. Aug 18, 2023 · FTMO enjoys a stellar reputation on Trustpilot with a rating of 4. FTMO developed a unique 2-step Evaluation Process for traders. FTMO or any prop firm for that matter is not worth the time and efforts. Lest say you catch 100 pips on a wild day like today, that's $50K. Our FTMO Challenge is the first step of our Evaluation Process. Why FTMO funded account trial is a dangerous trap for you. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. if not you'll keep blowing it , albiet much slower. FTMO and other prop firms earn their money on people failing challenges. FTMO does have some downsides though the biggest being the news restrictions. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. The payouts are real, but they're paying you with profits that they make from other funded traders who lose money. I don't think they would be as profitable if everyone loses 10% of the account given to them, that would make it hard for ftmo to make sufficient amount of money, but ftmo funded 167 million dollars since 2017 i think so i don't really know 10 votes, 15 comments. But that's so doable. It’s in their terms and conditions. 5% a trade, I just feel like I have been so unlucky this whole time, I haven't won a trade so far this week and Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. In 3 months I grew my demo from $5k to $22k. The account is lost. FTMO ranks among the most trusted and transparent prop trading firms. I’ve tried others but none can match FTMO’s platform for seeing how your trading is going and how well or badly you are doing. Getting fucked on market orders hard. If you can't be profitable over 100+ trades on a paper account, there is no reason to lose your own money or spend more money on prop firm accounts. Historical forex data for trading is generally free. For example, at 7% total drawdown you are forced to make 7% back with just breathing room of 3%, just to not loose the subscription money. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. It took well over a year before I was comfortable trading real money. Its even stated in the terms and rules. You can't open or close a position on certain pairs 2 minutes before or after a news release comes out that effects those pairs. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. Reply reply More replies More replies More replies More replies Aggressive-Zone7564 I just found out about the 2minutes before/after rule with trading the news for FTMO. It's so much a mental game and so easy to go on full tilt and gamble with real money I've blown so much money trading with real capital . com, a trading forum run by professional traders. The real question is do YOU have a consistent and profitable method? That is the real question. Moreso it rules out gamblers and traders with poor risk management. Tbh MFF is okay, their customer service is kinda bad ngl but there is proofs of pay outs. And this is close to impossible in most occasions. Dont know about the english version but its in the czech one. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. Imagine on the last day of the trading period, if you are on real challenge with real money and you profit at this level, but suddenly you hit over the daily loss limit $10+ or whatever. If I was you, I would go DEMO with the same amount of money that you wanna go live, applying the same strategies that you used before and feel most comfortable trading. com Team. The challenge consists of trading with a virtual account for 10 days, with a specific set of rules and conditions. They don't have to scam. I tell people about Forex and they jump in right away with real money with no training and get mad when they lose money. I dislike the drawdown rules but I understand they are there to kind of protect the trader and to get them thinking about risk management. But you still feel like it's real money. Stocks move on the most random shit which can be both good and bad. After a couple of months you should know if are you ready, but be aware it's different using real money, mentally ofc. In the same way that most forex brokers will bet against you until you've proven to be consistently profitable, FTMO doesn't give you a real account at first. I didn't have the money- I paid $600 ( that i got back when I passed) then go access to way more funds than I could've before. FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. Their challenges are a bit tougher than My Forex Funds where I'm currently funded. A total of $29,000,000 has been paid out to traders on the platform. I personally won't go there because of it rules (In my opinion ftmo forces traders to fail) and that 80% profit split make trader wanna try, but that split is not important at all. The "cons" mentioned by some of the comments aren't really cons per say. Read more articles by DailyForex. I'll put it in the way I look at FTMO. Spread on limit orders is also rediculous. ” Hello, good day everyone. They publish the numbers and most fail the first or second stage (free money) then after even the funded will lose the account within a few months. I think you should have a separate system for position sizing in order to succeed. MFF’s policy on daily drawdown on equity is real killer and after submitting my EA for approval, they can be funny on that end too It makes me so mad. I will share my system with you as soon as I get my account and trade with real money. This is a testament to their exceptional service and trustworthiness in the forex trading community. This is why prop firms are an attractive option. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Bro, how does this moment feel for you? Are you still profitabel? I traded the demo account on FTMO with 40k for 2 weeks and reached 20% and also passed all the rules, for me its time for a real challenge. 0 rating. A swing account goes around this but your leverage is 1:30 instead of 1:100. If they believe in you, then they put you on an actual live account Need over $25k in an account of your own money. . You can achieve an equal amount of profit from just $10,000 account with own money, taking almost 40% floating DD ($4000), instead of <5% realized DD in FTMO. They are pure numbers so that dont care about which one is demo or real account, because your money never touch the real trading market. Say you get 20 pips eurusd @ 50 lots. 5-1. In addition, FTMO is also giving traders an extra 14 days if they are close to hitting their target. Get a paper trading account and a trade journal. Is that the parameters for the first two phases are real real tight. I had a friend that did this. - To be with other like-minded forex traders. I’m not sure ftmo suits low time scale scalping. anywayofcourse a prop firm is better than your own account for sure because with less money you can gain more You’re trading a simulated account, even when you pass and get “funded”. This is essentially free money for them to offset losses. There's always futures online prop firms if you think Forex online props are too risky. or some that profit a little , they don't send info to prop firm cuz not make them good money. It feels like FREEDOM. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. Many reviewers have shared their experiences of passing the challenge and verification phases, receiving their funded accounts , and getting their profit splits on time. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. FTMO is a company based in the Czech Republic. I went to my bank and they told me that they have no information to give since they're not the senders. FTMO ranks highly on Trustpilot based on 5,000+ reviews, with a 4. FTMO is legit and has been around for a while. You have missed the point by so much that it is now in an entirely new universe. I learned a lot in the past months, backtested a lot every fucking day mate. In general, it adds complexity to trading that doesn't exist in forex. Its a money printing machine on the biz side plus you can piggyback/sell the gem traders. Wait what! this is news to me. They will never give you access to their own money. Edit: this is my first 9 days with real money after passing the FTMO challenge / verification steps. The spreads are pretty good but in total i pay about 20% of my profits to commissions. With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). -Share FUNNY Trading The thing I have against instant funding firms is that they are severely less rewarding compared to prop firms with real evaluation phases. I know FTMO offers a free 2-week demo challenge account to practice on. Ive had a load of questions over the past few weeks from people asking me advice and general pointers on what to do after posting my FTMO challenge results. I deposited real money into my live account and went on the longest losing streak I've ever had in my trading career. No what I meant, is for example when you first start trading they'll pay you from the money they make from evaluation fees and if you are a profitable trader then they'll start copying your trades so my question was how much* money realistically before FTMO starts copying the trades and giving you money from the profits of the trades they made Welcome to FXGears. Lots of learning and lots of YouTube videos. It felt SO good, I got greedy and blew my account, and just NOW - 1 1/2 years later, I have a 50k FTMO account, using proper risk mgt. You can find plenty of payout proof for FTMO, MFF, TFTP and others. Upon successful completion of the Evaluation Process, you are offered to trade on an FTMO Account with a balance of up to 200,000 USD. Only reason I kept going through all the failures is because I remembered that first payout feeling. My man, the fact that you passed the challenge does not mean you'll mean a shitload of money with them UNLESS the strategy you used to pass the challenge is sustainable and returns CONSISTENT profits over a relatively long period of time. They are a mix of traders, quants, mathematicians, and developers driven by the same passion for the financial markets. Historical stock data costs money and derivatives data also costs money (usually more). Well done with FTMO and gl in future ! So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! 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. FTMO's 70/30. I thought they give a real account once you clear both the evaluation stages. They’ll still give you payouts in the case you are successful but they will never give you an account with real money. Upload every trade into your journal. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. It's a scam to make money off people paying them fees check reviews on trustpilot by selecting 1 star reviews, all positive reviews are paid for also on reddit, responses are from paid accounts Reply reply FTMO pays out there traders, yes it's true that they make a lot of money from failed challenges but the reality is it would be strange if they didn't. You initially pay for a challenge account. and that's it. FTMO's entry test is designed to force most traders to fail. It took me only 4 active days out of 20 days to pass both the challenge & verification. Just a heads up in case anyone was looking at doing the challenges. It’s all simulated. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. 9 out of 5. The money you spend with prop trading will extend you long enough to perfect your edge and straighten you out. traedw qnjz wpkdfc mslzvl wbxy jfjpfm zrx oaulekd gddten jjyrt