FTMO is an innovative company that is searching for successful traders. Of course, understanding who is a good or bad trader can be a difficult task. This is why the company has created a trading course consisting of a 2-step evaluation process that would allow them to ascertain if a trader has all the qualities they are looking for.
If you succeed in the trading course, you will be able to participate in the FTMO Proprietary Trading firm. Users can manage accounts of up to 100,000 USD. In order to understand whether you are a successful trader, you would have to use educational applications, account analysis and performance psychologists.
If you consider you are a good trader, then you can start generating money not only with your funds but also managing the company’s capital of up to $300,000. This could be a great opportunity for users to start working in the financial market.
Selected traders will be able to handle the company’s funds and keep 70% of the profit as a profit split. The company, instead, will receive 30% of the profits. However, FTMO explains that this can be a difficult thing to do.
FTMO will take this position very seriously. Traders will be trading freely, but they need to follow some rules such as avoiding over-trading, revenge trading and over-leveraging, among other things. Managing risk is a very important pillar of a successful trader and FTMO takes this into consideration.
If you lost part of your fund, then the funding partner will cover the losses. The firm claims that users do not have anything to lose. This could be a great opportunity to start working in the financial markets as a trader.
Nevertheless, the firm is going to select the best traders that successfully complete the trading challenges. Furthermore, traders can also contact the Performance Coach free of charge.
FTMO has also created a scaling plan that applies to the most successful traders. Users that show clear results will obtain higher account balances. In this way, investors can grow their account balances and increase their opportunities.
This could help them scale their positions without taking higher risks. Nevertheless, there will be periods where traders will not make profits. Trading is a risky business and the firm does not promise users high returns.
Basically, the trader needs at least to have 10 added percentage points more in four consecutive months. Furthermore, the trader’s balance needs to be above the initial capital in order to scale. In this way, the company will provide the trader with an increase in the balance of 25% after the four months.
This shows the trader will have the possibility to double the capital and increase the loss limits. The goal is to push traders to have steady gains and reduce the risks as much as possible.
As we mentioned before, in order to become an FTMO trader, you need to pass the FTMO Challenge and account verification.
During the FTMO challenge, traders must follow the rules created by the company. Traders will have to pass all the requirements and move towards the verification step. In this part of the process, users will have to face a 60-day training with a demo account to verify the performance and consistency.
Understanding the trading objectives is a key part of the training. The training aims at proving that traders are experienced and know how to manage risk. Traders are free to decide their trading style. The company does not set limits on instruments or position size.
The instruments users can select include Forex, Commodities, Indices, Crypto and Energies. Everything without limits on the trading style. For example, investors that decide to use the British pound (GBP) to trade and an aggressive strategy, can be selected to handle a balance of £35,000 and make £7,000 in 30 days. This represents a 20% profit in GBP.
Some additional limits include 10 minimum trading days, £3,500 maximum daily loss, and £7,000 maximum loss throughout the whole period. The refundable fee is going to be £540 for traders.
Moving into the verification screen, the trader will have to trade for 60 days, with a minimum of 10 trading days. The maximum daily loss is £3,500 and the maximum loss will be £7,000. Finally, the profit target is going to be lower, at £3,500.
FTMO is a great solution for investors that want to use their trading experience to generate larger profits working for a financial company located in the heart of Europe.
By performing and passing some challenges that test users’ trading capabilities, investors will be able to handle the company’s funds and split the profits with the user. 70% will go to the trader and 30% goes to FTMO.
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