FTMO review 2024

Our opinion of FTMO

FTMO is one of the best prop trading firms we’ve reviewed. The platform is designed for both beginners and experienced traders. While it’s primarily focused on forex trading, it has recently started offering other markets, including stocks, crypto, commodities, and more, making it a top option for anyone looking to diversify their trading portfolio. 

Some of FTMO’s best features include its high profit splits, low fees, and easy to understand rules. This FTMO review investigates all aspects of the prop firm to help you make the best decision before signing up. 

FTMO highlights

Investing options

4.7

What can I do with FTMO?

FTMO is a prop trading firm, which means it offers capital to profitable traders. To join the FTMO team, you must pass a two step evaluation process. This evaluation process is designed to test your ability to consistently generate profits. FTMO will give you a funded trading account if you pass both stages.  

With FTMO you can access different funding levels, from $10,000 up to $200,000. If you can demonstrate good ability as a trader, there is an option to scale your plan to $2 million. 

What accounts does FTMO offer?

FTMO offers two main account types: Normal and aggressive. You can also select from a range of 7 base currencies, including GBP, USD, EUR, CAD, AUD, CZK, and CHF. The main difference between the two accounts is the cost, rules, or targets. For example, the normal account has a lower daily loss and target than the aggressive version. 

Essentially, with the aggressive account, you can be more aggressive in your trading as you’ll have a larger loss limit. You will however, be required to generate larger profits if you want to progress to the next stage of your evaluation process. Below are the different account types on offer from the FTMO prop firm. 

You can buy different starting balances for each account type on FTMO. The smallest account you can start with is $10,000 and the largest $200,000. It is possible to extend your capital further through the FTMO scaling plan, which runs to $2 million. Below are the account balances and their costs. 

Products, markets & assets

4.5

What products and assets can you trade on FTMO?

FTMO is best known as a forex prop firm, but in recent years it has added a selection of new markets and assets. There are over 130 individual markets available on FTMO, including a wide range of currency pairs, cryptocurrencies, stocks, indices, and commodities. Here’s a look at what assets you can trade on FTMO.

What leverage trading options are there?

The leverage on an FTMO prop trading account will vary depending on your trading instrument. For example, currencies have the highest leverage available up to 1:100 and it drops for assets like stocks and indices. Here’s a look at the maximum leverage you can trade with on your FTMO prop account.

What are the spreads?

One of FTMO’s best features is its low, raw spreads. While testing the platform, we obtained spreads as low as 0.04pips on major currency pairs such as EUR/USD. Our FTMO investigation also found low spreads for other assets, especially crypto CFDs. Below are the average spreads you’ll encounter when trading with FTMO prop.

FTMO trade sizes and limits

When trading with a forex prop firm, you can generally trade much larger positions than with a regular CFD or spot broker. In the case of FTMO, trade size limits are fairly good and can be as high as 50 lots. FTMO releases regular trading updates on its website, where it makes clear any changes to its trade sizes and limits. 

Stocks

Which stocks are available on FTMO?

Stocks and equities are a relatively new addition to the product offering on FTMO, meaning the number of stocks you can trade is limited compared to others. That being said, you can still trade the biggest companies in the world, such as Apple, Tesla, and Google. Most FTMO stocks are from US markets, but some international companies are listed too. 

What are the fees for buying and selling stocks?

The fees for buying and selling stocks on FTMO vary depending on the market you’re trading. All stocks have a bid ask spread, the difference between the buy and sell price. There is also a commission, which is based on trading volume. 

Crypto

What cryptocurrency pairs can be traded on FTMO?

The crypto offering on FTMO is fairly limited compared to similar prop firms. Along with the biggest coins, such as Bitcoin and Ethereum, there is a selection of altcoins like Cardano, Ripple, and Dash. In the table below, we’ve included all the crypto coins you can trade on FTMO. 

What are the fees for buying and selling cryptocurrencies?

FTMO is commission free when it comes to trading crypto on its platform. This means you’ll only have to pay the bid ask spread and won’t be charged any additional fees. Spreads are variable and change throughout the trading day. 

Does FTMO offer staking and rewards?

No, FTMO is strictly a proprietary trading platform that offers no additional services such as staking and rewards. 

Forex

What forex pairs can be traded on FTMO?

FTMO originally started as a forex prop firm and that’s where the majority of its focus remains. On an FTMO prop account, you can trade a wide range of forex pairs, including the majors, some minors, and a few exotics. Below is a selection of the top currencies available on FTMO. 

What are the minimum spreads for trading forex?

The minimum spread for trading forex on FTMO is 0.03 pips. Spreads on the platform are variable and can change throughout the trading day. The lowest spreads are available on the majors, such as EUR/USD and USD/JPY. For crosses and exotics, spreads are generally higher and can run into a couple of pips. 

Commodities

What commodities can be traded on FTMO?

You can trade a good selection of commodities on FTMO. Gold can be traded against currencies such as USD, AUD, and EUR. You can also trade a select few commodity futures. Here’s a closer look at the commodities on FTMO. 

What are the minimum spreads for trading commodities?

Like other markets on FTMO, spreads for commodities are variable. The minimum spread will vary depending ont the commodity you’re trading. While testing the prop firm, we saw spreads as low as 0.10 pips on XAU/USD. 

Deposits & withdrawals

4.3

What are the minimum & maximum deposits?

The smallest account you can buy is a $10,000 FTMO challenge. The price is €155, which is the minimum you must spend. The largest account you can buy is a $200,000 FTMO challenge. The price is €1,080, which is the maximum you can spend. There are also several options in between. Here is a look at the payment options you can use. 

What are the minimum and maximum withdrawals?

The minimum withdrawal is just $20 and the maximum is unlimited. Payouts can be processed on demand following 14 days as a trader with the company. 

What are the deposit and withdrawal options fees, limits, and speeds?

Most payments are processed instantly, although there are a few exceptions, which can take a couple of days. Fees also vary depending on the payment method you use. Some options are free, while others have a small charge. Below are the withdrawal fees and processing speeds for all payment options on FTMO.

Fees & costs

4.8

How do FTMO fees work?

FTMO fees are fairly straightforward to understand. Once you’ve bought a challenge account, you won’t encounter any other fees you need to pay the company. There are, however, a few trading fees, such as spreads and rollover, which may apply. Below is a look at the average FTMO fees. 

What are FTMO’s trading fees?

The main trading fee on FTMO is the bid ask spread. Some markets also charge a commission, which can vary. Here is a closer look. 

Platforms & usability

4.7

What devices can I use FTMO on?

FTMO can be accessed via the MetaTrader or cTrader platform. Both can be used on desktop, mobile, or web, so you’ll find no issues connecting to the prop firm’s trading server.

FTMO mobile app review

The FTMO mobile app allows traders to manage their prop trading account on the go easily. With FTMO’s dedicated app, you can connect your MetaTrader 4 or cTrader account to monitor your trades, account balance, and performance from anywhere. 

The app also includes several useful tools like Account MetriX for account analysis, a statistical app for tracking metrics, a trading journal to log your trades, a mentor app to connect with experienced traders, an equity simulator to practice strategies, and a quick trade manager. 

The FTMO app gives you complete mobile access and control over your funded prop trading account.

Web trading platform

The most important question any user has is: How easy is it to use FTMO?

Using an FTMO prop trading account is straightforward for traders familiar with MetaTrader 4 or cTrader. You can use MT4 or cTrader to trade your FTMO prop account, allowing seamless access to managing your trades, account balance, and performance metrics. 

Even without downloading software, FTMO accounts can be easily accessed and monitored through a web browser for convenience. With FTMO, you can manage your funded account through your preferred platform. 

The intuitive FTMO dashboard provides easy oversight of account stats, tracking progress on challenges, and receiving payouts. For those already adept at trading platforms like MT4 and cTrader, utilising an FTMO prop account is simple and intuitive.

Desktop trading platform

With the FTMO desktop app, you can install MetaTrader 4 or cTrader to directly trade your FTMO account. This allows you to access FTMO account stats, news feeds, integrated trading tools, and more.

The app allows you to monitor your account progress, track stats like profitability, access trading resources, and seamlessly execute trades through your connected MT4 or cTrader account. 

Key features

FTMO has a number of tools for tracking account performance, analysing metrics, and journaling trades. Traders have invaluable insights to improve their prop trading strategies using the FTMO mobile app.

Account MetriX

This powerful feature gives you a comprehensive look at your account performance. It tracks essential metrics like net profit, profit factor, win rate, drawdown, daily profit target hit rate, and more. MetriX gives traders a dashboard to monitor their overall progress and account health.

Account Analysis

Dive into the details of your account performance with FTMO’s account analysis. View your full equity curve, daily profit/loss, current open positions, margin usage, account balance growth, and other data over time. It offers a detailed look at your account’s day-to-day performance.

Statistical App

You can use the Statistical app to view key statistics determining your FTMO profitability. It tracks metrics like profit factor, average win/loss, payoff ratio, percentage of winning trades, longest winning/losing streaks, and more. You can review stats by day, week, or month.

Trading Journal

Log and review your trades with parameters like entry price, exit price, position size, trade duration, profit/loss, notes, and tags. Journaling each trade helps identify strengths and weaknesses in your trading strategy over time.

Safety & reliability

4.1

Is FTMO safe?

When reviewing any prop firm, safety should be a top concern. FTMO is a licensed financial services provider regulated in the EU, ensuring trader protections and oversight. Client funds are segregated in top-tier banks for security. FTMO also uses advanced encryption and security protocols to safeguard trader data and accounts. 

For added assurance, its years of reputation and thousands of successful traders speak to FTMO’s safety and legitimacy as a leading prop firm. Unlike unregulated prop firms, FTMO offers traders a safe environment to grow their accounts.

Is FTMO regulated?

FTMO is a licensed financial services provider regulated in the EU; however, it does not hold any regulatory status for any authorities. You should consider this before joining FTMO, as you will not receive the same level of protection as you would using a trusted broker. 

FTMO customer support review

FTMO offers a comprehensive range of customer support functions and it is easy to contact its help desk. Its FAQs section is the first place to visit if you need assistance, as it’s packed with lots of information. You can use live chat, email, or WhatsApp if you still need to speak to someone. 

What are the risks of using FTMO?

The main risk of using FTMO is blowing your account by failing to meet the rules. You should consider other risks before using FTMO, a few of which we’ve highlighted below. 

• Rules can be difficult to understand. Before buying a challenge account, make sure you take the time to read the rules. When using a prop firm, there are certain requirements you must adhere to when trading, and if any of these are breached, it will usually result in you losing your account.
• Leverage is risky. On FTMO, you can trade with leverage up to 1:100. This means you can trade much larger positions than you ordinarily would without it. When using leverage, your gains can be magnified, so you can make a lot of money quickly. But that’s the same for your losses; you can quickly blow your account. 
• Crypto and other markets are volatile. FTMO is one of the few prop trading firms that offers cryptocurrencies. While crypto is extremely popular, it is also extremely volatile and is best suited to traders with experience. If you’re new, it is better you stick to less volatile instruments like stocks. 

Research & analysis tools

4.9

What trading tools are on offer?

FTMO has a range of trading tools to help you make the most of your account. Not only will you have access to the MetaTrader and cTrader platforms, there are also proprietary tools available to help you improve your trading.

MetaTrader 4 (MT4)

FTMO offers this robust forex trading platform to give traders advanced charting capabilities, technical indicators, EAs for automation, algorithmic trading tools, backtesting functionality to test strategies on historical data, and more. With MT4, traders can fully analyse markets, develop strategies, and execute trades on their funded accounts.

cTrader

cTrader is an alternative web-based trading platform provided by FTMO optimised for speed. It offers Level II pricing for market depth insights, a variety of order types, advanced charting tools, automation through cBots, and support for developing algorithms. cTrader is ideal for short-term traders who benefit from ultra-fast execution.

Financial Calendar

FTMO’s calendar compiles important events that impact the forex market like economic data releases, central bank rate decisions, speeches from officials, elections and more. Traders can plan around major events and react to news driving market volatility.

Education & learning resources

4.9

What educational resources are on offer?

FTMO appears to take education seriously and you’ll find various tools to help you improve your trading skills. You can use the FTMO demo to practice a challenge without buying one. You can also study in the FTMO academy, which is packed with information about how you improve as a prop trader. 

FTMO Academy

The academy offers structured online courses for all skill levels on core trading topics. Beginner courses teach foundations like technical analysis and risk management. Advanced courses cover more complex strategies like price action and algorithmic trading. Traders can progress through the tracks to build their knowledge step-by-step.

Free Challenge Account

Traders can open a practice account through FTMO’s challenges to trade with simulated money. The challenges recreate the experience of the evaluation program. Traders can practice executing trades, controlling risk, and meeting profit targets. It’s a risk-free way to gain experience before trading live markets.

Video Tutorials

FTMO traders share their experiences through video blogs covering techniques, strategies, tips, and mindset. Topics range from how to trade news events to avoiding bias in your trading. Traders get access to methods used by profitable FTMO traders.

Mentor Program

Traders can get personalised 1-on-1 guidance from veteran FTMO traders who coach individuals through the evaluation program. Mentors review your trading performance and provide feedback to help improve.

FTMO video review

FTMO customer reviews

Our verdict

With its strong reputation, longevity, and top-tier features, FTMO is a top-rated prop trading platform. Unlike some opaque prop firms, FTMO lays out clear and understandable account rules for traders. Its transparent evaluation program sets traders up for long-term success. 

FTMO provides industry-leading tools like integrated MetaTrader 4 and cTrader, robust analytics, and helpful educational resources for managing funded accounts. Traders consistently praise its technology, training, and transparency.

After reviewing the features, benefits, and real trader experiences, FTMO is an excellent prop trading choice. From the free practice accounts to get started to scaling up to $2 million for experienced traders, FTMO accommodates all skill levels. With the right mix of performance incentives, risk controls, and trader support, FTMO gives traders an ideal environment to hone their skills and unlock the full potential of their strategies.

Who is FTMO suitable for?

FTMO is suitable for any trader serious about earning an income from trading. Its accounts, tools, and education accommodate all skill levels – from beginners to advanced traders. While beneficial for all, the educational resources are especially ideal for beginners starting out.

Is FTMO good for beginners?

Yes, FTMO is an excellent option for beginners in trading. The free demo account lets new traders learn without risk. The FTMO Academy provides structured online courses explaining core trading concepts clearly. Beginners can take things step-by-step. Even the funded accounts have limits and protections in place for managing risk.

Our methodology

Helping people make better financial decisions is at the heart of our mission at Invezz. 

We periodically test more than 63 forex prop trading firms to provide our users with clear, accessible guidance on the investing options available. All testing is carried out by our panel of forex experts, analysts, and active traders who sign up to each broker, conduct research, and score each service.

Our tests are designed to find prop trading companies that offer a beginner-friendly, secure trading experience at a fair price. To supplement our practical testing and experience, we research each service to gather any further relevant information. We read online customer reviews, app reviews on the Play Store and App Store, and conduct user surveys to get feedback from real people about what works, and what doesn’t.

Each forex prop firm is awarded a final score based on 130+ data points across 8 ranking categories: cost, reliability, user experience, deposit & withdrawals, investing options, range of products/markets, research & analysis tools, and the availability of educational & learning resources.

We work closely with individual firms to ensure all factual information displayed here is accurate. All data is then fact-checked by an independent reviewer. You can learn more about our expert panel and how we test, rate, and review platforms in our review process. 

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