One of the proprietary trading companies with financed trading accounts with the quickest growth is FTMO. Up to 90% of revenues go to funded traders. Forex, cryptocurrencies, commodities, indices, and stocks are examples of tradeable assets.

This FTMO review walks you through the sign-up procedure, member dashboard, and trading platforms for the FTMO Challenge. We also examine the evaluation procedure, the specifics of the trading aim, and the pricing.

Since FTMO’s commercial activities began in 2020, it has seen tremendous growth. Over 180 nations already have registered merchants with FTMO. Every month, over 6 million trades were opened, and with an average payment processing time of just 8 hours, $23 million has been paid out thus far in 2021.

Evaluation Method

There are two phases in the FTMO review procedure. The so-called FTMO Test is the first stage. By archiving the targets specified in the trading objectives, you must demonstrate your trading discipline, expertise, and profitability during the challenge.

Step 1 of the FTMO Challenge

For all accounts, the FTMO Challenge lasts for 30 calendar days. Thus, the maximum number of days that may be used to achieve the specified objectives is 30, as stated. If you meet the profit goal more quickly while adhering to all criteria, you will go right on to the Verification phase. 

To begin the challenge, you just need to pay once. Depending on the specified funded trading account amount, the prices change. The Verification (step 2) and FTMO Trading programmes are free to use (step 3). 

Step 2 Verification: 

The second stage in becoming a sponsored trader at FTMO is the FTMO Verification. You have twice as much time to attain the profit goal while adhering to all regulations. You have 60 consecutive days to complete the Verification procedure, in other words.  You receive an invitation to join FTMO as a funded trader after completing the Verification phase.

Step 3 FTM Trader: 

You demonstrated via the FTMO Test and Verification that you merit receiving funding from a prop trading business. You achieve this aim in Steps 1 and 2 using dedication, strong trading abilities, and risk management as in demo account environment.

My Forex Funds

My Forex Funds offers traders who sign up to trade with it fast money. Customers can then get incentives in addition to profit splits. Depending on one’s trading experience, one can choose from a variety of funding packages. The website allows traders to sign up with little out-of-pocket expense and potentially make money while expanding their trading knowledge. And is one of the best prop trading firms.

The firm focuses in trading indexes, commodities including metals, contracts for differences, or CFDs, and foreign exchange.

Profit division: 85% maximum.

Features:

• It is great for pro-prop traders because of the huge profit split.
• Pass a test to demonstrate your trading expertise.
• For full-time traders, an accelerated plan is better.
• Use MetaTrader 4 and 5 to trade.
• Blogs, insights, Discord chats, and round-the-clock trader support are all trading support tools.
• Pay with bitcoin, ethereum, btc, and ltc.
• Real market conditions are used to base a demo account.

30 days after the first trade placement, the first payout occurs. After that, phase 2 pays out 4% of the profit objective, followed by a purchase fee refund of 112% and a first-month profit share of 75%.

The expedited programme offers funding for traders; you may receive between $2,000 and $5,000 and increase your capital up to a total of $2 million. Although customers can increase their accounts up to $600,000, the evaluation programme is for testers and is funded with between $10,000 and $200,000 as well.

Based on the target, different funding is guaranteed. Depending on the specified plan, leverage up to 100 times. For accounts older than five days, receive 50% of your account profits each week. Receive payment via Bitcoin, TransferWise, PayPal, or a bank account.

Pros:

• The account provides protection for novice, experienced, and professional traders.
• Cost-effective evaluation — 25% less expensive than FTMO for the same capital level.
• Low-profit targets of 5% to move on to a funded account and high-profit splits of 8% on the first stage with instant funding.
• 120 nations are home to 40,000 trades.

Cons:

• Poor clientele service.
• The basis for drawdown is equity, not account balance.

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