Trading News

See all posts (51)
BTC.TOP believes that bitcoin will reach $400,000 The best currency pairs to trade Most common mistakes in algorithmic trading Terms and conditions of employment with FTMO Bitcoin may fall to $10,000, but it is too early to panic The founders of the Africrypt crypto exchange disappeared along with their users' bitcoins What is a Buy Limit order in Forex and how to use it? India may introduce a law banning cryptocurrency trading What is scalping in Forex: all the pros and cons Elon Musk's unexpected statement crashed the crypto market Who are market makers and market users? How to pass the FTMO Challenge? Japan has several reasons to issue a national cryptocurrency FTMO is the best Proprietary Trading company The Linear Regression indicator: advantages, characteristics, recommendations The FTMO Challenge: TOP 5 tips Huge electricity costs threaten the cryptocurrency industry Benefits of working for Proprietary Trading Having no trading plan is the biggest mistake of novice traders What is a sideways trend in Forex, and how to approach it? What is capital in Forex: the size and usage Successful traders always limit their losses The McClellan Oscillator: All a novice trader needs to know Top 10 tips for turning a loser into a successful trader Pros and cons of using TOP 3 volatility indicators Aspects of Forex trading at night Top 5 unforgivable intraday trading mistakes How to trade the Diamond formation About a margin in Forex in simple terms How to use the RSI indicator Aspects of trading with a Pivot Points indicator What is Forex volatility? The Bitcoin exchange rate continues to rise steadily What is a Forex swap, and how to make money with it? What is a stop-loss in Forex trading? What is a trading terminal? How to trade in Forex market? Efficient ways to deal with emotions in trading What is forex hedging and can it help beginners? TOP 10 most infamous traders in the world The market is in anticipation of Biden's victory: Wall Street stocks rise sharply TOP 4 tips on using the Fibonacci levels Advices on choosing scalping indicators Dispelling the TOP 3 myths of algorithmic trading What are Forex Points and the Basic Rules for Their Calculation What are Forex Points? What is Leverage in Forex and How to Use It? UNDERSTANDING THE BASICS OF THE FOREX ALGORITHMIC TRADING PROS AND CONS OF USING AN AUTOMATED FOREX TRADING SYSTEM FOREX AUTOMATION SOFTWARE - HOW DO THEY WORK
How to pass the FTMO Challenge?
How to pass the FTMO Challenge?

FTMO is one of the best Proprietary Trading companies. It offers favorable conditions of cooperation, allowing professional traders to improve their skills and knowledge by working with private funds, the size of which depends on the initial success of a certain expert. However, FTMO is not just a funding program. Its members enjoy many benefits, including unique software for tracking and organizing their performance, as well as fast and efficient market analysis.

How to become an FTMO trader

Given the incredible resources that FTMO provides to its partners, it simply cannot afford to have every promising trader on its team. They need the finest. For this purpose, a unique two-stage evaluation system was created. The first and probably the most important stage of trader testing is the FTMO Challenge. The company set specific financial goals, by achieving which traders confirm that they are disciplined, experienced, and talented market participants. At the same time, the firm does not restrict traders by trading style, nor does it specify the main trading tools and the position size. All you need is to comply with established requirements and demonstrate excellent results.

 

Characteristics of the first stage of the FTMO Challenge:

 

  1. Demo account testing lasts 30 days. 10 trading days is enough to pass the test.
  2. The maximum daily loss must not exceed $500.
  3. The maximum loss for the test period must not exceed $1,000.
  4. The minimum profit is $1000.

 

Upon successful completion of this trading stage, you move on to the second stage, which lasts 60 days. The minimum trading period is also 10 days. The maximum allowable daily and total losses remain the same.

Please note that a trader does not need to trade the entire period of the valuation process. If the trader accumulated 10 trading days and achieved the necessary goals, he or she can immediately become an FTMO trader and manage a real account.

Once all trading goals are achieved, traders will be notified that they have successfully passed the FTMO Challenge.

 

Rules and exceptions

If one of the trading objectives is not met, the trader's account will be closed and the agreement with FTMO will be terminated. However, the expert can always try again by making a new request for taking the two-stage test. Any progress made in the past testing will be irrelevant when reevaluated.

 

There is an exception, though!

If you have properly followed all the rules set by FTMO, all your trades were closed by the end of the test period and you made a profit, the firm can offer you a new FTMO Challenge free of charge! The company is well aware that sometimes market conditions are not in favor of a trader, so it is ready to give a second chance to those who can manage risks and show excellent results!

 

Difficulties with passing the FTMO Challenge

The reality is that even the world's most seasoned traders do not pass the FTMO test on the first try. Many find it difficult to keep their drawdowns within 5 percent. Even if you are absolutely confident about yourself and your abilities, it can be extremely difficult to control the situation, while meeting the requirements of Proprietary Trading. However, there is still a way out!

The world's best programmers have developed unique software that allows you to quickly and easily pass the FTMO Challenge. One striking example is the FTMO BST16 robot. The software is automated and operates according to a proven algorithm. It has repeatedly proven its effectiveness in passing the FTMO Challenge.

 

Using the robot has a number of advantages:

 

  1. Lightning-fast market tracking and effective decision-making at a speed beyond human ability.
  2. The system is fully automated.
  3. The opportunity to trade with a 5% drawdown.
  4. The robot is devoid of emotion and never deviates from the established algorithm.

 

As mentioned above, FTMO does not limit the number of testing attempts for traders. However, if you want to pass the test on your first try, it is better to insure yourself and use proven robotic software. Thus, you can save time and money spent on multiple attempts at the FTMO Challenge, and as soon as possible to win a well-deserved place in an internationally recognized company among the finest!

Still have any questions,
Get in touch with our expert
Download Our App

Our mobile application delivers the best trading experience on the go.

Get the free app today and enjoy responsive automated forex trading on your mobile phone

Get it on Google Play Get it on App Store
Start Investing
With Algofxpro
This option is not available right now.