Is ftmo real money reddit
Is ftmo real money reddit. However, before you can do that, you need to pass their challenge. 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. com is a platform that provides traders with the opportunity to trade with real money and potentially join their trading team. 200K in FTMO allows you to take (relatively) massive lot sizes. 5-1. Van Tharp’s position sizing book had helped me a lot to navigate and solve the issue. 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. 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”. I’m not sure ftmo suits low time scale scalping. Just like anything in life, practice makes perfect. 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. 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. They don't have to scam. Spread on limit orders is also rediculous. Its a money printing machine on the biz side plus you can piggyback/sell the gem traders. 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. 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. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. Get a paper trading account and a trade journal. I'll put it in the way I look at FTMO. It’s in their terms and conditions. the rest, is like a dummy who happy , got certificate yay. It took me only 4 active days out of 20 days to pass both the challenge & verification. He got so excited when he made like 2$. This is essentially free money for them to offset losses. - To be with other like-minded forex traders. 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. FTMO's entry test is designed to force most traders to fail. In 3 months I grew my demo from $5k to $22k. 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 have missed the point by so much that it is now in an entirely new universe. Only reason I kept going through all the failures is because I remembered that first payout feeling. A swing account goes around this but your leverage is 1:30 instead of 1:100. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. I could definitely relate. 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. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Just a heads up in case anyone was looking at doing the challenges. 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. Moreso it rules out gamblers and traders with poor risk management. FTMO is a company based in the Czech Republic. I trade on lower time frames with Oanda with the commissions options. Getting fucked on market orders hard. I wouldn't blow $10K trading just because of FTMO's ruleset. and that's it. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. 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. Why FTMO funded account trial is a dangerous trap for you. com Team. 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. Historical stock data costs money and derivatives data also costs money (usually more). Stocks move on the most random shit which can be both good and bad. Passed the first evaluation but failed the second due to emotional trading and holidays season. Lest say you catch 100 pips on a wild day like today, that's $50K. But they do not provide any more details. Most don't have the money or the time to grow their own personal account. 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. Apr 28, 2024 · FTMO has received lots of positive reviews that praise FTMO for their professionalism, transparency, customer service, and payout process. 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. I tell people about Forex and they jump in right away with real money with no training and get mad when they lose money. Then I got 2 more accounts and bam- now I'm full time. 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). com, a trading forum run by professional traders. 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. 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. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. you can't overtrade ir take high risk like you trade your own money. 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. Trying to pass one of these prop firm challenges isn't easy. Our FTMO Challenge is the first step of our Evaluation Process. 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. . In addition, FTMO is also giving traders an extra 14 days if they are close to hitting their target. FTMO will always be the king of these firms Others will have quirk but FTMO still shines through. Lots of learning and lots of YouTube videos. Dont know about the english version but its in the czech one. When you get the money, at first, it doesn't seem real. 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. Last but not least, they are collecting a lot of money from all the people who attempt to pass the challenge and fail. 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. The account is lost. 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. 3% of people pass the challenges, which is in line with reality. FTMO or any prop firm for that matter is not worth the time and efforts. They are a mix of traders, quants, mathematicians, and developers driven by the same passion for the financial markets. I think you should have a separate system for position sizing in order to succeed. But you still feel like it's real money. FTMO and other prop firms earn their money on people failing challenges. 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. I will share my system with you as soon as I get my account and trade with real money. FTMO only requires you to risk $600 of your own money, not $10,000. 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. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. 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. FTMO ranks highly on Trustpilot based on 5,000+ reviews, with a 4. You can find plenty of payout proof for FTMO, MFF, TFTP and others. Wait what! this is news to me. 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. FTMO will look at their net exposure and adjust it at the portfolio level if it’s too risky. But that's so doable. 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. Especially when you are around 7% drawdown. Trade it until you have at least 100 trades, preferably 250. The "cons" mentioned by some of the comments aren't really cons per say. You’re not trading with real money. 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. FTMO developed a unique 2-step Evaluation Process for traders. Aug 18, 2023 · FTMO enjoys a stellar reputation on Trustpilot with a rating of 4. I thought they give a real account once you clear both the evaluation stages. Edit: this is my first 9 days with real money after passing the FTMO challenge / verification steps. 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. 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. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. 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. The money you spend with prop trading will extend you long enough to perfect your edge and straighten you out. That's a $10K trade right there. 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 . Upload every trade into your journal. Its even stated in the terms and rules. The challenge consists of trading with a virtual account for 10 days, with a specific set of rules and conditions. , trading my strategy, consistently. if not you'll keep blowing it , albiet much slower. I have provided FTMO: my full name and address, account #, SWIFT code You obviously don't trade with real money. 9 out of 5. With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). FTMO is legit and has been around for a while. Say you get 20 pips eurusd @ 50 lots. And this is close to impossible in most occasions. You only need to pass 8% in the first round and 5% in the 2nd to get funded and drawdown is 12%. 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. They’ll still give you payouts in the case you are successful but they will never give you an account with real money. The support is excellent and the whole process has been very seamless and transparent. 0 rating. You initially pay for a challenge account. Is that the parameters for the first two phases are real real tight. Many reviewers have shared their experiences of passing the challenge and verification phases, receiving their funded accounts , and getting their profit splits on time. 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. or some that profit a little , they don't send info to prop firm cuz not make them good money. Historical forex data for trading is generally free. FTMO ranks among the most trusted and transparent prop trading firms. 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. 9 stars out of 5, based on 5,535 reviews . FTMO does have some downsides though the biggest being the news restrictions. 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. My advice is if you can afford it, go for FTMO , if not MFF. Strategy is a small part of the game, mental preparedness is a big aspect of trading success. 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. 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. It took well over a year before I was comfortable trading real money. ” Hello, good day everyone. 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. Tbh MFF is okay, their customer service is kinda bad ngl but there is proofs of pay outs. Read more articles by DailyForex. I deposited real money into my live account and went on the longest losing streak I've ever had in my trading career. I had a friend that did this. I learned a lot in the past months, backtested a lot every fucking day mate. 8 - Win rate of 55-60%. 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. This is why prop firms are an attractive option. After a couple of months you should know if are you ready, but be aware it's different using real money, mentally ofc. Then you are disqualified. Me personally, I would rather deposit money into either props with better profit potential and trading criteria or a personal account. I am so hyped and a post like this motivates me a lot. Sorry OP but that's a dumb question. Step 1 – FTMO Challenge. Ftmo is good for scalpers and you need luck because is kinda hard to make 10% in 30 days without luck. 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. 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. The payouts are real, but they're paying you with profits that they make from other funded traders who lose money. Their challenges are a bit tougher than My Forex Funds where I'm currently funded. 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 . The spreads are pretty good but in total i pay about 20% of my profits to commissions. 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. A total of $29,000,000 has been paid out to traders on the platform. 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. It’s all simulated. Although some Forex online prop firms do also trade with real capital and don't keep their traders on demo. There's always futures online prop firms if you think Forex online props are too risky. Or trade a small capital and grow it to afford FTMO which is what I’m doing now That tough mate. I went to my bank and they told me that they have no information to give since they're not the senders. 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. 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%. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. -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 don't know where you're getting that number. FTMO's 70/30. FTMO is legit, and I assume they have a lot of very successful traders. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. This Evaluation Process consists of an FTMO Challenge and a Verification and is specifically tailored to discover trading talents. The real question is do YOU have a consistent and profitable method? That is the real question. In general, it adds complexity to trading that doesn't exist in forex. 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. You will get nothing and they keep all the profit from what made and walk away like that. They will never give you access to their own money. Actually that's the separator between 90% and 10%. This is a testament to their exceptional service and trustworthiness in the forex trading community. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. It feels like FREEDOM. I know FTMO offers a free 2-week demo challenge account to practice on. rgl wtvu trd wvg conhbq gmnqx fyfy madrxs vycfjy gmr