If you’re looking for extra money, the FTMO Challenge is for you! It is one of the fastest-growing proprietary trading firms with funded trading accounts. Funded traders receive up to 90% of the profits. It’s INCREDIBLE! Tradable assets include Forex, Cryptocurrencies, Commodities, Indices, and Stocks.
The evaluation process of the FTMO Challenge!
The FTMO evaluation process consists of two steps. The first step is the so-called FTMO CHALLENGE. During the challenge, you will have to demonstrate your business discipline, skills, and profitability. This, filing the determined goals in the business objectives. So, if you’re an expert trader this is for you!
FTMO challenge step 1.
The duration of the FTMO challenge for all accounts is 30 calendar days. This means that 30 days is the defined maximum number of days available to achieve the defined goals. Is it enough?
If you reach the profit target faster according to all the rules, you will advance directly to the verification step. However, the minimum required trading days are 10 days. So this means, if you file your target within 5 trading days, you will need to trade in 5 more days. However, you can make small risk trades to comply with the rules, keeping the profit target on file in the first 5 days. We’re sure you can do it!
One aspect that you should take into account is the FTMO CHALLENGE fee. And that is that FTMO returns the fee with the first division of profits once you have become a funded trader.
Verification, step 2!
FTMO verification is the second path for you to become a funded FTMO merchant! You will have double the time available to reach the profit target according to all the rules. This means that you have 60 calendar days to pass the verification process.
There is no additional fee to participate in the verification process once you have successfully completed the FTMO challenge. The minimum number of trading days is similar to the FTMO CHALLENGE requirements. And, it is defined as 10 trading days.
Therefore, you will need to trade a minimum of 10 business days during the 60 calendar day period and archive the profit target. Once you go through the verification step, you will receive an offer to become a funded trader on FTMO.
FTMO Trader Step 3!
During the FTMO challenge and verification, you have proven that you deserve to receive funding from a commercial prop company. Achieve this goal with proper risk management, excellent trading skills, and discipline in the demo account environment during steps 1 and 2.
What happens in step 3? When you get to step 3 it equates to filing your goals for you to become a funded trader. From this point on, your FTMO account will be connected to the company’s real account, awesome!
The default profit split ratio for all FTMO traders is usually set at 80:20. This means that you keep 80% of the profits generated ready to be withdrawn to your bank account. However, FTMO also has a scaling plan, and you will most likely be able to archive a payout ratio of up to 90:10, which is unique in this industry.
Free FTMO Challenge Replay!
This is super important! If the trader ends the FTMO challenge or verification without reaching the profit target but manages to stay within the loss limits, the trader will always receive a new FTMO challenge for free. This is a great benefit and not a matter of course in this industry.
You will need to pay a fee to become a FTMO-funded merchant. If you manage to become a funded trader, you will be able to recoup the fee paid with your first split of profit from your funded trading account. If you don’t go through the 3-step process, you can start a new challenge, but you’ll need to pay the fee again.
The fee structure depends on 2 things: first, the chosen risk level, and second, the balance of the selected trading account.
Always pay the currency of your region. For example, if you are in the United States, pay in USD. If you are from the European Union, you pay in euros, etc.
Financing with FTMO is one of the best that exists within these markets. FTMO started its business operations in 2020 and has experienced tremendous growth since its inception. Today FTMO has registered merchants in more than 180 countries.
The best is that more than 6 million transactions are opened each month! And, more than $23 million have been paid out so far in 2021, with average payment processing times of just 8 hours. So, if you’re a good trader, this is your opportunity! Let’s make money!