Do you want to know about proprietary trading accounts? Have you ever heard about FTMO but don’t know anything about it? Here in this article we will give a detailed review of FTMO Broker and everything about it along with 3 best forex funded accounts.
What is an FTMO broker?
FTMO is a well known proprietary trading company working since 2014. The platform provides traders its fold after they successfully pass the two step testing system, they transfer 400 thousand dollars to the traders account.
Trading conditions of FTMO:
FTMO provides you following trading conditions:
- Minimum Deposit €155
- Leverage rate of 1:100
- No data spread
- Providing support 8/5
- Using MT 4, MT 5 and cTrader as trading terminals.
Geographic Distribution of FTMO:
FTMO traders are geographically distributed as:
- United States (23%)
- Afghanistan (12.4%)
- India (10.7%)
- Algeria (8.2%)
- Thailand (8.2%)
- United Kingdom (5.9%)
- Côte d’Ivoire (5.8%)
- Vietnam (5.7%)
- Nigeria (5.3%)
- Others (44.8%)
Advantages of FTMO broker:
Here is a list of advantages of FTMO:
- They are offering a low testing cost of €155.
- Use of classic trading platforms like MT 4, MT 5 and cTrader are used.
- 90% of the possible profit is earned after passing the test.
- 80% is the starting reward.
- Diversification is available.
- Users can use a demo deposit account from 10 to 200 US dollars.
- Providing leverage rate of 1:100.
Disadvantages of FTMO broker:
Everything having advantages do have their own disadvantages. These include:
- Maximum allowable loss is 10% of the deposit amount.
- Test period is strict.
- For authentication two steps are required.
- No information related to Company funds.
- Available 8 hours 5 days a week.
3 best forex funded accounts:
Forex funding program works by allowing traders to profit by trading other companies’ capital with no damage to their accounts. The trader which allows them to be their partner will get 90% of profits.
Here is a list and description of 3 best forex funded accounts:
Toostep is considered in 1st position with a great reputation. It is one of those 500 fastest growing companies in the US. After 8 days of working and trading with them you can earn a funded account.
Costing price of Topstep:
- Its price begins with 165 dollars a month for a 50,000 dollar account.
- 325 dollars will be charged for a 100,000 dollar account.
- 375 dollars required for a 150,000 dollar account.
- If there is a discount offer, the price might be decreased by 20%.
- A 14 day trial facility is also available.
FTMO strongly holds its currencies. It can be your best choice to find a forex funded account. You can trade with more than 40 types of currencies along with 10 types of cryptocurrencies.
To get an account on FTMO trading system you need to go through following three steps:
- Enter yourself to the FTMO challenge in which you have to complete the profit target of 30 days.
- Start the 60 days verification steps in which you have to prove your challenge completion.
- After completing the challenge and review procedure, FTMO will contact you with an offer.
- You can now use the accounts of range 10,000$ to 40,000$ to trade their capitals.
It is a funded trading program that provides three different programs.
- The Gauntlet Program
- The Gauntlet Mini
- The all-new Trader Career Path
In the case of the Gauntlet program one-time payment is required. Traders manage 25,000$ virtual accounts for 60 days. Out of which you need to trade for at least 30 calendar days and if you follow the rules and make 10% of the profit target you will get a funding offer.
The Gauntlet mini program includes Topstep futures or Topstep forex. You have to pay a monthly fee and must follow guidelines. You will get webinars and access to trading classes. Traders can get an offer for trading funded accounts. You can also get a detailed Topstep Trader review on our website.
- Earn2Trader career path price begins with 150 dollars a month for a 25,000 dollar account.
- Gauntlet mini program offers different account sizes including 25k for $150, 50k for $170, $75k for $245, $100k for $315k, and $150k for $350 each month.
- Gauntlet challenge provides a one-time fee of 343 dollars.
- If there is a discount offer, the price might be decreased by 20%-40%
- No free trial facility available.