Are you deciding on the prop firm you want to trade with? There’s a few options around, but one of the main ones out there and best known is FTMO. Then there’s the lessor known (for now), Funded Engineer, which was one of the early movers on unlimited time evaluations. Let’s dive into the FTMO vs Funded Engineer comparison and see which prop firm comes out on top.
FTMO Pros and Cons
FTMO is a well-known prop firm that has been around a while. Real payout can be confirmed and they don’t make dodgy rules up once you pass. FTMO also offer similar rules to Funded Engineer making them very similar to each other overall, since FTMO changed their challenge rules from 30 days to unlimited time. Now it’s really down to a matter of the cost and trust that you will be paid out. FTMO has been a longstanding prop firm that isn’t as subject to restrictions that many other firms have seen of late.
There are some important differences between the FTMO account types that could make or break your decision to go with them over Funded Engineer. To check out the two account types FTMO offer, read this article on FTMO swing versus FTMO normal account types.
Funded Engineer Pros and Cons
Funded Engineer is very similar to FTMO in that it’s challenge is unlimited in time and has similar risk and target settings.
While I cannot personally confirm the payout situation of Funded Engineer, it seems they are building a following that is conducive to a prop firm that pays out on the profits earned.
https://dashboard.fundedengineer.com/evaluation?affiliateid=82
Why not trade your own account?
Trading for a prop firm is amazing, but getting passed the evaluations isn’t so easy. Prop firm fees for new and inexperienced traders is like throwing money into a rubbish bin. It is important to learn the ropes on either a demo account or a live account.
A live account is better because it replicates real market conditions like delay and slippage, which creates a very real impact to your trading results. A live account also stays active and you can track the results over the long term.
Prop firms and demo accounts expire, meaning you lose the most valuable part of your trading business, which is the data and history of your performance as a trader.
Consider this, you practice and develop your skills on a live account and work out your risk maximums in a period along with your expected return once you gain consistency.
Check out a quality broker that has low costs and learn the ropes before throwing money away without your stats in place.
You shouldn’t have to ask a trading community if you are likely to pass or not, you should have your own stats, showing maximum drawdowns and profits. This way you know if you can pass or not based on your historic results, giving you a much better chance to work out your chance of success.
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