What is FTMO?
FTMO is a company that provides people with the ability to trade without using their own funds in an account. They offer a a few account types and sizes which you can buy, then you need to pass their challenges to access the chance to earn money trading for FTMO.
FTMO allow you to trade a range of instruments (unlike many providers which only allow for forex market trading). You can currently access Gold, Silver and Indices along with a range of other products. You can still trade forex however for those of you with skills in areas such as Index markets, FTMO is a solid trading company to work with.
The first challenge (as it stands at the time of writing this article) is to basically earn 10%, without drawing down by 10% during the challenge. The second challenge only requires 5% profit during a 60 day period. Very achievable requirements and flexible in terms of trading methods and styles that can be used.
How does it work?
It is fairly simple, you buy an account (based on what size account you would like), download the platform you want to use and log into your account to start trading. Read all of the rules carefully on the FTMO site, passing the challenges will require skill and knowledge in trading financial markets, but also understanding the rules and how to achieve the best outcome while trading with FTMO. If you break the rules, you lose the account.
How much can I earn?
The profit split at the time of writing this article is 70% to you. So let’s say you make 5% for the month on a $100,000 account, you would have $3,500 coming your way. I use USD accounts, so when that comes back into AUD it is about 0.70 to the USD making it about $5,000 AUD.
What if I fail the tests?
If you fail the challenge, you lose the account and simply need to pay to access another account. That is the risk, you pay your money upfront and then have the opportunity to trade larger volumes. Often people will risk the amount of the fee over time anyway so if you are going to lose, you probably would lose the amount of the fee anyway with a lot less upside potential. At this point in time, you can try to pass the tests as many times as you like.
A quick review of FTMO in relation to the trading challenge. FTMO provide hope for those that have worked hard to trade at a professional level but want the freedom to trade on larger accounts in their own time. Sticking within the rules is quite easy as they have set some guidelines which are very fair. Trading with FTMO is fairly standard in terms of a broker and platform (using MT5). The rules are very suitable for my style of trading. All in all, FTMO is an incredible company providing opportunity and hope to good traders.
My experience trading FTMO Challenges
Trading with FTMO is an incredible experience, when I passed both of the challenges, I was over the moon, one of the best feelings I have had! The feeling of financial freedom flooded through my veins. To be funded as a trader is an incredible experience.
My goal for Trading with FTMO
My goal with FTMO is to get to 6 x $50k USD aggressive accounts. One 4% trade win would mean around $12k AUD in profit. Getting to a point where I can consistently make even just a few percent per month would be a great income.
What can FTMO do for you?
Sometimes it’s hard to fathom what your life might be like if you can earn good consistent money from trading. Take the time to actually think and picture what it would be like for you, to wake up every morning with the ability to do anything you choose, to buy what you want and to enjoy life to its fullest. If you can picture yourself receiving the payments from trading the equivalent of $300,000, even earning a small percentage would be higher than the average wage.
Starting something like this can be very scary, and tempting to hold off or not do it at all. Put the time in to consider what FTMO could do for you. Consider how you could make it work and study the rules to make it happen. This is real, and can be your reality with that extra bit of effort to make it happen. Good luck!
FTMO Interviews and Videos
FTMO have a Youtube channel where they do interviews with their traders, some of them are very interesting and it is really cool to see what other people are doing and see the proof of what they are earning from FTMO. Watching a few of these makes you really want to be a part of FTMO and be getting paid well to trade.