How Does FTMO Work
FTMO is a company that provides funding to traders that purchase an account and pass 2 rounds of tests. Once you pay for your account and get set up, you trade, pass the tests then get funded. FTMO earns money when you start the tests and also when you start to earn income from trading. They keep about 30% of the returns you generate on your live account, giving you the remainder.
How to pass the FTMO Challenge
To pass the FTMO Challenge, you ideally want to ensure you can trade within their rules. So step one is read all of their rules and requirements. The second is to trade consistently in line with their rules. Ideally, you would simply practice your trading on a demo account (no cost, just practice until you are comfortable and have certainty and consistency). Paying for accounts before you have certainty over the outcome may lead to you passing but then not making it far into earning real money, using luck rather than certainty.
How to pass the FTMO Verification
The verification phase is easier than the challenge, with more time and half the target. If you did all of your practice to pass the challenge, this part will just verify your hard work is worth funding.
What Happens When You Pass FTMO
Once you pass FTMO challenge and verification, you get access to a funded account. This takes a few days to set up generally, and make sure you provide all the relevant documentation. You will be prompted for what is required and simply send it through to them. Also, have a think about whether you want to have the account in your personal name or a company name. This can effect taxation and other things so choosing the right structure is important.
What are the Benefits of a Real FTMO Account
The benefits of a real FTMO account are quite massive, some might say life changing. If you become a consistent trader, inside the rules of FTMO’s requirements, then you could have yourself an income ongoing. Removing financial pressure from your life can be liberating and increase your quality of life greatly.