FTMO - 8 Competitors and alternatives in May 2024 - Tracxn (2024)

FAQs

What is the best alternative to FTMO? ›

Who are FTMO Top Competitors? FTMO 's top competitors in June 2024 are: FunderPro, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

During the FTMO Challenge in the Normal risk account, the Profit Target is set to 10% of the initial balance. In the Verification step, the Profit Target is always reduced to 50% compared to the first step. The Profit Target is present only in the Evaluation Process.

As FTMO is a leading global firm with more than 1M users, we focus on the scalability and reliability of our applications for users located in more than 180 countries. To do this, we use modern cloud technologies to deliver a quality product to all our traders.

Features Comparison: TopStep vs FTMO

Range of Markets: FTMO offers a wider range of trading instruments compared to TopStep's focus on futures. Profit Sharing: FTMO tends to offer a higher profit share ratio. Educational Support: TopStep provides more structured educational content, especially for futures trading.

Dariusz from the USA exceeded everyone's expectations and made his dreams come true. As our FTMO Trader with a maximum allocation, he beat the previous record payout of $500,180 thanks to his profit of $1,206,225, the biggest payout in the industry!

Costs. You need to pay a fee to become a funded trader with FTMO. If you succeed in becoming a funded trader, you can get back the fee paid with your first profit split from your funded trading account. If you fail to go through the 3-step process, you can start a new challenge, but you have to pay the fee again.

In what appears to be related to the latest MetaQuotes crackdown on the proprietary trading landscape, prop firm FTMO has stopped onboarding US clients, Finance Magnates has learned. New traders attempting to register from a US IP address were unable to complete the registration form.

Also, the amounts we pay out to our traders are very interesting. We are making you increasingly happy here, too. While in 2020 we paid out a daily average of $39,584, in 2023 it was already $209,973. At the beginning of 2024, the amount we pay out daily exceeded USD 300,000.

MetaTrader is the most widely used program among forex traders, and that applies to FTMO traders as well. The program's environment is intuitive and straightforward, however, its modifiability gives modders space to make it even better and user-friendly.

Is FTMO the best prop firm? ›

FTMO is one of the best prop simulated trading firms for both new and experienced traders. Started in the Czech Republic in 2014, the platform's challenge rules and verification process are transparent and user-friendly. FTMO works by making traders go through a two-step testing challenge.

However, the FTMO Trader will receive a real financial reward for his trading on the FTMO Account, as long as his trading is profitable and there is no violation of the contractual conditions. The amount of this reward depends on the success of the trades executed through the FTMO Account.