Having completed all stages of the FTMO Challenge test, a trader can manage private funds, provided a certain stable profit is made. Economically, it just makes no sense for the company to finance unprofitable traders since its income directly depends on the results of their work. Nonetheless, FTMO makes every effort to create the best working conditions for traders and help them achieve common goals.
In this article, you will become acquainted with the main technical aspects of cooperation, which will allow you to develop a clear understanding of what it means to work in FTMO.
How much trading capital does a trader get?
It is necessary to choose your trading account size in advance during the FTMO Challenge configuration phase, as the firm does not allow any updates. However, if a market participant consistently demonstrates impressive results, his or her account balance may be increased in accordance with the scaling plan specified by the FTMO.
Clients get 70 percent of the profit made with their FTMO account.
Your funds that are attached to the company's account increase every 4 months. To have one's balance replenished, a trader must deliver at least 10 percentage points (on average, 2.5 percent per month) more than the rules of successful participation in the FTMO stipulate. Moreover, there is one more rule to follow: at least two months, not necessarily in a row, must be profitable.
If the trader meets all the conditions, his or her capital will be increased by 25 percent. The algorithm is cyclical and repeated every four months, so one's capital increase only depends on whether that person is successful in the financial market.
The scaling plan was designed so as not to provoke traders to take unnecessary risks. Along with the growth of capital, the maximum allowable drawdown will also increase, and with each new stage, the expert will feel more free and confident.
How can I withdraw money?
The profit split takes place on a monthly basis, starting from your first day as an FTMO trader. For example, if you started trading the company's funds on September 10, you can expect the first split of the profit on October 10. The upcoming profit split day will be visible in your account. Moreover, the trader receives a monthly email with instructions on the rules for withdrawing the funds earned. The company does not charge any withdrawal fees.
All payments are processed within 1-2 business days upon receipt of the invoice.
As you can see, the rules set for cooperation with the FTMO are quite easy to follow. A trader will not need to accumulate a minimum amount of profit to withdraw money or pay huge transaction fees. After a month of trading, that trader will be able to get exactly 70 percent of the amount earned.
Formal employment or cooperation?
The FTMO is a registered company and prefers to operate legally. That is why, after completing the two-stage evaluation process, the firm sends the winning traders an agreement, which is a formal document and is legally binding. Please note that you can read a sample of such an agreement even before passing the FTMO Challenge and Verification procedures by simply contacting the company's support service.
Main features of their accounts
All FTMO trader account specifications are displayed on the platform selected for trading. Experts recommend that you familiarize yourself with how to use each tool. As for the leverage, it is by default equal to 1:100 and cannot be increased. However, it can be reduced at a trader's request.
An account is not the only resource provided by the FTMO
The company's management is professional traders who perfectly understand what is needed for successful and more efficient trading on the part of each market participant. That is why the company develops its own unique solutions. The most demanded among them are the following:
The FTMO company is one of the best in prop trading, providing favorable and fair terms of cooperation to every talented trader. Its policies are transparent and clear. However, you can experience much more difficulties when going through the two-stage selection process.
If you want to increase your chances of becoming an FTMO partner, you can take advantage of the unique automated bots that have proven their effectiveness during the FTMO Challenge. One of the best examples is the FTMO BST 16 . The bot will protect you from rash decisions and will not miss a single profitable trade, allowing you to win a place in a world-class company in a short time.