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:
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:
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!