Ftmo funded account reddit

Ftmo funded account reddit. I’m in Canada, after long discussion with my accountant, I found the best way to do a job remotely and get paid from foreign source is to treat this income as export business. FTMO or any Forex funded account for that matter, is not worth your time and doesn’t make you any money in long-term. Others say, with their drawdowns, say $2500 for $50k account, you basically have $2500 to trade and it’s better to save up for it. The funds are pooled together and they merely display your total funds available to trade as such. Usually you have to make a 8%-10% on phase 1 and after you make that, they give you another account to make 5% profit for phase 2. After you make that, they give you the For the FTMO Challenge and Verification, there is no limit on the number of trading accounts that traders can have but it should be noted that the firm has a maximum capital that can be allocated to the tune of $400,000 (this for Normal risk setup before scaling) for each trader or strategy, at any specific time (or $200,000 if the trader Why FTMO funded account trial is a dangerous trap for you. In fact I will guarantee you they do not have physically have $100k sitting in an account for each of their funded traders. Plus the scaling aspect, even a $10k ftmo account can eventually scale to $2M account. So if I make $3k in one day, I'll have to make another $7k to be able to withdraw the initial Hi, funded trader here with FTMO. TFT has the 400k challenge from 1 buy, MFF is the cheapest, Ment Funding has its own rules with up to 2 million in direct challenge funding and only 1 phase to pass the challenge, max drawdown 5%, target 10% and you pass. They may get hundreds of people joining all for the chance to get this 1 account. People say some weird things across the interwebs. Go on YouTube and search the term "My Forex Funds Drawdown Rule" and you will find plenty of people failing their challenge or even violating their funded account in exactly the way I described. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. Swing traders can go through a multi-month drawdown even with a profitable strategy, b You can usually do that on the evaluation accounts, but not funded accounts. FTMO is a company based in the Czech Republic. Btw here's some proof that I'm actually a FTMO customer. The Swing account is a type of account designed for more conservative traders who hold positions for more extended periods. Thanks! Once one account is up let's say 1-2 percent, I stop trading on it until the withdrawal period. It will take you 6 times to lose a challenge to lost the $1000 account had you funded your account with your own money. This fact as well as the fact that the max loss on a funded account is actually only 10% means that FTMO actually have very little if any risk per funded trader because the failed challenges have paid for these accounts. Therefore, FTMO isn't really necessary. 2% a week is 32k a month…. I have just bought an FTMO challenge and I got my FTMO challenge login credentials from the clients panel. Step 1 – FTMO Challenge. Showing how Iv passed multiple funded and shown withdrawals and cunts like this openly post "client" in the title and it stays up? Make it make sense. Lowering your risk may help your emotional since 10 trades may not be enough for a drawdown period. 2m. I passed a 200K challenge in 2022, unfortunately lost the funded account, main reason was overtrading to try to get a pay out. so pretty much same amount. FTMO normal account is trash. I called my bank and they said it was getting declined due to fraud in which they claimed the website of the company or whatever site I was trying to pay through didn’t have a location and instead only had a phone number. No stress trading on live account as we don't have time limit. I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. Imagine you have the choice of trading the prop firm account value or a prop firm account with that value (your $100,000 or FTMO’s $100000). Planning to use profit from this one to open another at FTMO to diversify funds and scale profits. I believe it depends on the instrument you're using (various funded accounts have worked in either pips or points) but yes you're right. If your willing to risk 2% per trade you’ll be blowing funded accounts in no time at all. There seem to be quite a few users leaving negative reviews. FTMO is the most trusted, if theres anyone you should watch out for with payments would be funding talent Reply reply Top 1% Rank by size Also, FTMO have said 92% of traders fail the challenge. And no single day's profits can account for more than 30% of the total payout. Also do FTMO swing also have Scaling function just like Standard FTMO account trust me man, if all you have traded is a demo, start with the cheapest funded account first. This is my 3rd time with FTMO. On a funded account its much different and would not be as risky. I am glad to know that you WILL NOT lose the account. It’s great to go with if you don’t have a lot of capital to trade to make a considerable living. Flexible Capital Options: You can choose from different account sizes that align with your risk tolerance and goals, ranging from $10,000 to $200,000. Once i blow this one i will go to myforexfunds. On my FTMO account under credentials with the login ID and password it also says platform DXtrade. However when my account increases to say 300,000 I can then not trade 1% as I could only lose 3 trades. If your account size is 50000 and you take a trade and then you go into loss of 1000 i. 3200$ The relationship between an FTMO Trader and FTMO is based on the FTMO Account Agreement that we will sign with you after you pass your FTMO Challenge and Verification and create FTMO Identity. that means 100K x 30 = 3m to trade with. Reply reply Welcome to /r/Netherlands! Only English should be used for posts and comments. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. I have one main account left and it will prob get scorched by eow. If you can manage 30:1 go with the swing account. What's your opinion on this? I want to trade on FTMO - max leverage is 1:3 for my symbols. in short it seems like they cheat by making you lose the money you invested to do some challenges to get an account with them (propfirm). Ive never took 10k account challenges, its always have been 50k-100k for meyou will assume that its because i cant manage risk or whatever bullshit you come up with, but no, i keep my risk in check but bigger account size doesnt fuck you over with the •FTMO Swing Account: no longer need to close trades for the weekend and, once you've passed both the challenge and verification, if I recall correct they also dropped the requirement of minimum 10 trading days a month - i. If the FTMO Account Agreement is successfully signed, you are given the right to use your FTMO Account in a simulated demo environment with fictitious funds. When i first started, I flipped demo after demo account easily doubling even tripling. This can significantly alter their trading strategies, as many rely on such platforms for lower capital requirements and the potential for higher profits. Currently got funded another account at MFF as the spread is better there for me. When considering your risk you need to use the maximum drawdown amount, not the total account size. Constantly have to jump in and out of trades due to news or the weekend. Almost everyone that tries to pass will fail. When you are funded, if I make $1K for example, I keep $700 and they take $300. OP also has a 25 lot size trade. I think so, but not all of them, people say why wouldn't they do it themselves, lest they forget max amount you can have is 400k on ftmo for example, so if he can consistently make profit on his/her own, they can do it on other accounts, and if they manage it after the challenge, take a % of what they make on the account, if they lose the challenge, they may only refund the service fee or Just an update for those still following my journey. instead if you buy Personal account with 500 leverage in that same amount then you get $4500 x 500 = 2. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. correct me if I am wrong You get 100K account for $4500 with leverage of 1:30. But for the challenge, they're faced with the same problem as before. They are taxed as 60/40, so that blows my mind how anything could be taxed before you actually do your taxes because of income. They make money because most people can't pass and lose the fee to them. In addition to the 3 instant fundings accounts, you are also allowed to have 3 of their bootcamp accounts (80% split at max 4M), 1 free style account (100% split from day 1). By using the prop firm account, You are using a hedge on your portfolio at the cost of the entry to the prop firm + a profit percentage, as well as buying the leverage of the larger account size. You got to find a balance between how badly you want to keep the account vs how long you want to grind. 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. I'm asking because I've heard stories about FTMO refusing to payout because the trader supposedly overleveraged. Max loss is your account size minus the lowest equity your account has seen. 25% if you do 1:2RR you'll need 18 wins from 12 "allotted" losses. On a 25K account you max daily is like $1,200 and total max is $2,500. So this many people lose their challenge fee. On my funded accounts, I'll have to have 10 trading days with actual trades between each payout. 800$ 4. But once you have the funded account, there's no reason to take any risk that will blow your account. For the $100000 account, use the $10000 drawdown amount because once you lose that you are out. 3 for the Normal account type). Took me several challenges to pass but all worth it. As a general rule, i risk 1% for each trade on my ftmo account, but i only do it when i have a significant buffer on my account (at least 5%). I personally won't go there because of it rules (In my opinion ftmo forces traders to fail) and that 80% profit split make trader wanna try, but that split is not important at all. I recently broke these rules and they withdrew more than i had made off the trades no idea how they worked it out. 10% you'd be allotted 30 losses, safe Try the 10k account and then use those profits to buy the challenge for 100k and 200k accounts. The odd of winning this 1 account isn’t good enough for me to fall for it. This way you rotate between accounts and increase the chance of consistently getting paid. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. FTMO has 5 stars! Check out what 13,475 people have written so far, and share your own experience. If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. The main difference from the Normal account type is the ability to hold positions overnight and over the weekend even after passing the Verification. You have to be profitable to be able to make money on their Bro most people with funded accounts trade 1% MAXIMUM. You can prove your trading skills first and then invest in your funded account. I have downloaded the cTrader from the FTMO website and I tried to login with the login credentials from my FTMO account but it failed. For swing traders, it's a great improvement too once they actually get the funded account. Hey everyone, Say if i’m a funded FTMO trader & have a $100k account, if i end the month in drawdown eg $98k does my account get reset the next month back to $100k or does the new month account stay at $98k? Edit1 : To clarify, set off a positive balance on ftmo funded account for another challenge instead of withdrawal Edit 2: Spoke to support and they informed during payout we can take that option to get another challenge. Our FTMO Challenge is the first step of our Evaluation Process. Despite which of those options you pick FTMO will take 30% of your earnings. 1% of 400,000 is still 4,000 dollars. FTMO is demo account and just a trading tournament with a winning edge for the company. Now we can trade through high impact news and hold runners over the weekend if we want. I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. Has anyone else had this issue where they can’t purchase an FTMO funded account through M&T? What is a funded account? You pay the company a fee for a account (let's say you want a 10k account which have ~100$ fee). 5ers allows 3 instant funding accounts (can be scaled up to 3 x 4M). Their challenges are a bit tougher than My Forex Funds where I'm currently funded. e. See full list on livingfromtrading. What I personally consider a minimum account needed (with proper risk management) is $50,000. I’ve been thinking about doing it but I’ve seen some mixed reviews. FTMO is legit. If you go down to 0. You never know when you will breach any of the rules or when they changed any of their rules. So 100 points on SPX and 400 on Dax/NQ. When people take a $200K challenge--if they pass it and receive a $200K "funded account" it in reality is only a $20K account. once you're a full FTMO Trader, you can even go on an entire month without trading at all if unforeseen I'm risking only 0. Edit: Thanks for the clarification everyone. The real question is do YOU have a consistent and profitable method? That is the real question. This way you get a better grasp of your strategy and you understand FTMO rules. Sorry OP but that's a dumb question. 5% …. Its going to suck if it doesnt work out. Do your research but so far, my experience with MFF has been great. This rule is in place to ensure that an ample audience can freely discuss life in the Netherlands under a widely-spoken common tongue. You can lose 10% on FTMO with 10% target, so you have to double your account. So please read their rules before you stick your nose up some company's ass. your equity is 49000 and then you go into profit and close the trade at profit of 2000 your max loss will be 1000 You then trade with that funded account and every month if you close in the green then you have the option to either withdraw the money or to keep it in your account to give you a larger drawdown buffer. You only need to pass 8% in the first round and 5% in the 2nd to get funded and drawdown is 12%. . com The immediate effect of this ban is apparent – US traders can no longer participate in FTMO’s evaluation process or manage FTMO-funded accounts. Im fucked, overleveraged all my small accounts these past couple weeks trying to short SPY and doing bad. No Upfront Costs: Unlike many other firms, FTMO doesn't require you to pay for the challenge upfront. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. Risk that can be withdrawed is worth considerably more than if you were to risk the prop firms money. A $10000 account where you are able to lose $1000 and it costs you only $155 with the current rate to buy a challenge. The have a $500,000 challenge account you can win if you purchase a $100,000 or higher challenge account. Its a funded 26k account that ive had for 6 months. This way, if you have a consistent strategy, you won’t lose the account. Pay yourself first as it's not your money. Just as a case and point, this past month I flipped a $370 account to $1000. Some love it and say you can make a lot of money with it. FTMO is legit, and I assume they have a lot of very successful traders. Another point to note is that trading with own money is always better and profitable in long term. In both the challenge stage, verification stage and funded stage you have a $10K daily loss limit and a $20k total loss limit so the only amount they are "funding" is the loss limit. They give you the account with the challange for it. Posted by u/[Deleted Account] - 2 votes and 12 comments FTMO or any Forex funded account for that matter, is not worth your time and doesn't make you any money in long-term. Take your profits out and fund your next challenge. They pretty much went all in on a single trade on a funded account and made a killing. Next time I'll use smaller risk (0,25% per trade) when I get funded. Which ever hits first you get booted and lose your funding and would have to start the process all over again. 400$ 3. Im honestly scared to trade but know I have to. myself and a few others usually trade 0. Demo is so much different than a live account and prop challenge account. It's a huge improvement for day traders at least. For example FTMO which is a very known prop firm with great reputation. I passed the $100K challenge and got the funded account. Good afternoon Traders! I have successfully passed my $100K FTMO challenge. Ftmo is good for scalpers and you need luck because is kinda hard to make 10% in 30 days without luck. Third, FTMO allows user to have a maximum of 400k, which is 2 200k accounts (can be scaled up to 2 x 2M). Guys i see to much bad news on borkers cfd like FTMO, MFF… and others. You don't get his logic, because you apply the same rules to a private account. My concern isn’t taxing as self vs LLC the real concern here is how to account the foreign income for tax purposes. I believe the secret to these prop firms is using a really small % lot size once you get a live account(s). This question was spawned by someone’s comment that if you are in a loss at the end of the month, FTMO will reset your account once but if it happens again you lose it. If for some absurd reason your account is 700,000 you could blow the account in a 1% trade loss. anywayofcourse a prop firm is better than your own account for sure because with less money you can gain more Following are the leverages on each asset class: 1:30 for forex pairs (1:100 for the Normal account type), 1:15 for indices (1:50 for the Normal account type), 1:9 for metals (1:30 for the Normal account type) and 1:1 for cryptocurrencies, equity CFDs and for commodities, the leverage in a Swing account is 1:1 (1:3. So lets do simple maths. What if you get the 10K funded account to 30k and lose 12% of the 30k, do they pull the account from you or is it just 12% of the 10k account that you have to make sure you don’t go under by 12% Any FTMO swing account trader here, does they allow news trading, in the about it says yes, but the clause says no. How? Look at what FTMO is doing right now. I have 2 questions: 1- When have you received your account after passing the challenge? 2- When do I receive the refund for challenge & how do I receive it? Side note: I have tried 7 prop firms since last year. Did you guys ever get a pay-out from FTMO? The math is quite easy. 5% per trade on live account. It’s a feature of ftmo I think they need to address to change it to 5% of the days starting balance! FTMO is legit and has been around for a while. The Funded Trader, My Forex Funds, & Ment Funding. After that, I failed my first 3 challenges before I was able to finally pass one. 1600$ 5. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. You got to make 9% just to start getting paid out again, at 0. Trade it like that is your account size. You start with smaller risk obviously, you grow that to 100-200 and increase the risk so youll have more freedom in the open p/l section. mcqva jhxi cdtw czhra plqm nzar eeowx nbsjbw eazyb epnpwa