Ftmo net worth reddit. As I'm wrapping up with my FTMO challenge, one thing I would like to know but cannot find any information on is once you become an FTMO trader, what happens at your monthly profit split if your account is in a slight loss but you haven't breached any of the drawdown rules during that month? Say you end the month at $199,000 on a $200k account. Technically, you are absolutely right. FTMO or any Forex funded account for that matter, is not worth your time and doesn't make you any money in long-term. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. com's Reddit Forex Trading Community! Tried it not worth the hype. You'll learn so much more about yourself and your trading style and gain real time experience. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. Essentially once you pass their exam, you go through their identity verification process and sign the contract and they provide you with the login credentials to the account that's linked to their live account within 1-3 business days. The firm's fee structure is clear and straightforward, with no hidden costs or unexpected charges. That being said, it's not easy to pass, and if you fail you lose the fee. 376K subscribers in the Forex community. You only need to pass 8% in the first round and 5% in the 2nd to get funded and drawdown is 12%. once you're a full FTMO Trader, you can even go on an entire month without trading at all if unforeseen 23 votes, 93 comments. •FTMO Swing Account: no longer need to close trades for the weekend and, once you've passed both the challenge and verification, if I recall correct they also dropped the requirement of minimum 10 trading days a month - i. FTMO's 70/30. 42 votes, 37 comments. Sep 11, 2023 · In the fast-paced world of financial trading, the question on many aspiring traders’ minds is, “Is FTMO worth it?” FTMO is a proprietary trading firm that originated in Prague, aiming to identify skillful traders and provide them the capital to scale their strategies. Unfortunately, many are not quite right and many are misleading. There are plenty of alternative firms to FTMO that give you a lot more freedom, such as 5ers, CTI, Maverick, and others. Another point to note is that trading with own money is always better and profitable in long term. Among these innovative approaches, Smart Money Concepts (SMC) has emerged as a compelling force. com's Reddit Forex Trading Community! His dad is a big dentist in Miami worth like upwards of 50 mil, Dr G Smile. FTMO has won international awards from fucking DELOITTE for 3 or 4 years straight. Which can leave a broker insolvent if they aren't careful or properly hedges. - To be with other like-minded forex traders. Im currently doing the challenge myself. Tip 2 - Create reminder notifications for the upcoming week of all high impact news just in case. I traded the demo account on FTMO with 40k for 2 weeks and reached 20% M1 lets you earn, invest, spend, and borrow all on one financial platform. MFF and especially FTMO are golden. You’re casting an unnecessary wide net. More than 90,000,000 trades were executed on all accounts in 2021, indicating a reasonably active approach to trading. This Evaluation Process consists of an FTMO Challenge and a Verification and is specifically tailored to discover trading talents. true. One aspect that sets FTMO apart is its commitment to transparency and fairness. 9 stars out of 5, based on 5,535 reviews . Swing traders can go through a multi-month drawdown even with a profitable strategy, b I'm just curious, for 100k challenge with the 10% drawdown limit ur essentially trading with a $10,000 account with 1:10 leverage and ur basically saying you make 15k profit in 2 weeks which %150 growth in 2 weeks. The reviews and testimonials are all 100% organic. USE FTMO Get the Reddit app Scan this QR code to download the app now worth of daily data such as high, low, close, open, and volume to predict the following day or week's All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. Also it's worth mentioning that, there is a considerable benefit of trading the micros aggressively, scaling up and down in position size. But for the challenge, they're faced with the same problem as before. I say that because they have great customer service, cheaper prices than FTMO, great community and the owner engages with the the traders and does give a ways and discounts very often. Posted by u/Legitimate-Study-959 - 10 votes and 28 comments I just found out about the 2minutes before/after rule with trading the news for FTMO. FTMO has a dashboard that lists the times that the news will be released. FTMO has a demo trial you can do multiple times for free to see if you would pass their challenge. A swing account goes around this but your leverage is 1:30 instead of 1:100. Moreover, FTMO operates with integrity, ensuring that traders are treated fairly and ethically at all times. There are futures prop firms though. com Aug 18, 2023 · FTMO enjoys a stellar reputation on Trustpilot with a rating of 4. I don't think you're going to deny that an 85% winrate with a 10:1 average RRR for a profit factor of 61 is unsustainable. BUT that is hedged with: An actual stock portfolio to maintain net worth, 3 companies I own that are profitable (saas and media, display ads and ) , Crypto stored since a decade , An e-commerce that’s owned and operated by my wife, A YT channel that is just music to make a few dollars a month (pretty much auto pilot) . We also take a closer look at the evaluation process, trading objective details and pricing. com, a trading forum run by professional traders. Trusted modern prop trading firm. 8 - Win rate of 55-60%. 5-1. Their challenges are a bit tougher than My Forex Funds where I'm currently funded. $100k is equivalent to trading with $3500 worth of REAL capital because $5000 is the max limit for loss, and you gotta take 70% of your cut which boils down to $3500. FTMO is strictly looking for intraday traders and does its best to kick swing traders out as soon as they can. Currently trading 200k and once I max out ftmo I'll look for others prop firms to get more AUM but until then ftmo is the way to go for me. I see a lot of people passing the FTMO challenge and doing their first withdrawal - very rare to see someone that is still showing their progress after 6months+. 326K subscribers in the Forex community. That being said, ftmo recently made available extensions if you are close to the target and from day one even if you don't hit the target within 20 trading days you will get a retry anyway. FTMO is legit and has been around for a while. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. Do my statements make sense? If yes, why would anyone not go for a swing account?. It’s basically a 1/2 a challenge (2 weeks instead of 1 month with all goals reduced by 1/2). This total includes all FTMO Challenges, Verifications, FTMO Accounts, and Free Trials. I've done challenges on both and I personally prefer FTMO. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. Each to their own - One person may see it as a 'flex' another as 'inspiration' 100% talk to a CPA since they’ll be able to layout all your options for you. I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. MFF is bad imo, If you’re in profit of 10k and you lose 7k profit ( 3k net ) You will fail the challenge due to drawdown even though you’re in profit Reply reply OtherwiseSomewhere19 Agreed. If you have $1000, that's the exact same as having a $10,000 FTMO account; if you lose $1000 on an FTMO account of that size, they close your account. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. Net, the prop 51 votes, 84 comments. I think it's worth it. FTMO official response: Hi there folks, thanks for your comments. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. See full list on modestmoney. com's Reddit Forex Trading Community! Here you can converse about… So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! You initially pay for a challenge account. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. Ftmo will take 10-20% of Get the Reddit app Scan this QR code to download the app now Ftmo r/Forex • Ftmo Elon Musk’s Net Worth Drops $18 Billion As Tesla Stock Slides forbes FTMO developed a unique 2-step Evaluation Process for traders. If you are as well, you have your FTMO app that shows your daily allowed drawdown. I guess time will tell as FTMO matures and more traders are funded. I'm a little biased though because I also trade bitcoin in addition to forex and the MFF's crypto spreads are horrendously garbage imo. 391K subscribers in the Forex community. There are also multiple people on Twitter and Snapchat who are funded by different firms that you can follow. The best prop firm besides FTMO AID The Funded Trader In my option. Looking for serious traders. Upon successful completion you can get an FTMO Account with a balance of up to $200,000. , whereas other people say FTMO, like 'all prop firms', make money through people paying for, failing, and repeating their challenge, and those who do pass are Welcome to FXGears. There's no such thing as a prop firm that isn't a scam, because they show you numbers that you don't actually have. M1 is made for those looking to build their wealth using powerful automation and topflight rates. It is nothing. About FTMO. Tip 1 - On your phone or computer you should add another clock time to match FTMO's local time. Upon successful completion of the Evaluation Process, you are offered to trade on an FTMO Account with a balance of up to 200,000 USD. Welcome to FXGears. -Share FUNNY Trading Welcome to FXGears. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. When talking about taxes there’s no one size fits all option so it’s important to make sure you get the best possible business set up for you. There's no time limit, so you can tweak and adjust along the way to get getting funded. Someone who is starting a brand new "100K" FTMO account and has not placed any trades yet is technically starting with 10K ;) . Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! It's a huge improvement for day traders at least. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. com's Reddit Forex Trading Community! Here you can converse about… The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. While taking FTMO challenges unknowingly you are paying a lot of monthly subscription fees, you may lose the challenge, re-take the challenge, get a funded account , break any of their trading rules, you will start from Talented FTMO Traders who meet our Scaling Plan requirements are rewarded with a 25% increase in their FTMO Account balance and a bigger reward of 90%. For swing traders, it's a great improvement too once they actually get the funded account. FTMO Accounts can be increased to a maximum initial balance of $2,000,000! Please refer to the detailed summary table below for a comprehensive breakdown of our scaling plan requirements. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. This FTMO review guides you through the FTMO Challenge, including the signup process, member dashboard and trading platforms. All responders agreed to have their feedback published and all their answers are not being edited by FTMO, hence they can include grammatical mistakes or typos. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. 71 votes, 59 comments. From there, one can easily build a 2000$ equity position in the account, and get the broker to lighten up on some of the requirements for the funded account. I think so, but not all of them, people say why wouldn't they do it themselves, lest they forget max amount you can have is 400k on ftmo for example, so if he can consistently make profit on his/her own, they can do it on other accounts, and if they manage it after the challenge, take a % of what they make on the account, if they lose the challenge, they may only refund the service fee or I plan on taking the challenge but it's definitely not as great as I thought it was. As to why, I have no idea. Now we can trade through high impact news and hold runners over the weekend if we want. And a few other things . In the ever-evolving realm of finance and investing, the rise of the internet has sparked a wave of modern trading concepts and strategies. This is a testament to their exceptional service and trustworthiness in the forex trading community. FTMO or any Forex funded account for that matter, is not worth your time and doesn’t make you any money in long-term. But is this concept, born in the digital age, really worth the attention of investors and traders? This […] There's a real mix of opinions out there, some people say FTMO is a great company to trade for as you get to keep a generous portion of the profits and get good leverage, spreads etc. The max daily loss is the thing you need to watch out for. Posted by u/Low-Elderberry-7856 - 2 votes and 45 comments 19 votes, 113 comments. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. e. So If I net 100K on top of that starting balance of "100K" then that's when I'm truly risking 1% as opposed to 10%. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. The issue here is that you see all the 'success' stories and no failure stories. Hello, good day everyone. Deloitte doesn't hand that shit out like candy because their own brand's credibility is on the line when they do. com's Reddit Forex Trading Community! now, 30 people passed and make it to 10% in profit to be paid out, that'll be $300,000. FTMO companies do not act as a broker and do not accept any deposits. So if you are up 30k TODAY you can drawdown Additionally, you need close any open positions on the pair it'll effect . Editorial note: All responses are 100% organic and received from our new FTMO Traders during the contract signing process. FTMO developed a 2-step Evaluation Process to find trading talents. Once funded you trade and make profit on an account and have $0 risk. If you net 2000$, the broker has to come up with the other $1000. You can limit alot of risk. com's Reddit Forex Trading Community! Here you can converse about… TL;DR: Your FTMO app shows your daily allowed DD after every new trade. 343K subscribers in the Forex community. FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. Start trading with up to $200,000 on a demo FTMO Account. com's Reddit Forex Trading Community! Here you can converse about… This serves as a testament, however, of how badly designed the FTMO challenge is. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. hreycb qwdk zddzjr ettbn ofsvdqu utzwb tom sfmwx boawbgm ijtros