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FTMO Review 2022 – Is It A Good Prop Firm?

What Is FTMO?
Founded in 2014, FTMO is a proprietary trading platform – also known as a prop trading platform – designed for experienced Forex traders. Prop trading platforms offer the opportunity to trade using a company’s capital, and the company, in this case, FTMO, pays back traders a percentage of their earnings.To get more news about ftmo review, you can visit wikifx.com official website.

Before you can start trading as a certified FTMO Trader, you must pass FTMO’s 3-step vetting process called the Evaluation Process. This process usually takes between 30 and 90 days to complete and is designed to ensure that traders have the key skills that all successful traders should have. Some key concepts include risk management, minimizing losses, and reaching profit goals. FTMO is available in 180+ countries worldwide.

Since its launch, FTMO has paid more than $70 million to certified FTMO traders. In this quick FTMO summary, I will go over Evaluation Process and other key things you should know before getting started. If you want to read a more in-depth analysis, check out our full FTMO review.
Pass The FTMO Challenge And Get Your Account Verified
With FTMO, any trader who completes their 3-step Evaluation Process will receive their FTMO Trader account and become part of the FTMO Proprietary Trading firm. The 3-step verification process starts with the FTMO Challenge, a 30-day test run where you’ll need to showcase your discipline as a trader and manage risk successfully. The requirements for the second step, FTMO Verification, are very similar to the FTMO Challenge. To navigate the first 2-steps, you will need to follow the rules:

You can’t exceed the Maximum Daily Loss limit (ranging from $500-$10,000)
You must reach the minimum of 10 Trading Days within the period (30-60 days)
You must reach the Profit Target (ranging from $1,000 to $20,000)
The Maximum Daily Loss limit ranges from $500 to $10,000, based on the initial balance you chose when you created your account ($10k, $25k, $50k, $100k, or $200k). Trading Days are defined as days where you executed at least one trade.

Keep in mind that if you don’t reach the minimum profit target or exceed the daily loss limit, your account will be automatically invalidated, and you will lose eligibility to continue.

The only scenario where you’ll get a complimentary second chance to complete the FTMO Challenge (or FTMO Verification) is if you don’t exceed the Maximum Daily Loss limit and your account ends in a profit at the end of the period.

How Much Can You Earn As A FTMO Trader?
After you complete the FTMO Challenge and the FTMO Verification, you will unlock your FTMO Trader account and will start trading using FTMO’s capital. With your FTMO Trader account, you will receive 90% of the profits you make; this is very favorable compared to other platforms in the industry, like the TopStep Funded Account, which pays out only 50% of what you earn.