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Pros
- Loose trading restrictions
- High-profit split
- No profit target at the second stage
Cons
- Users in the United States cannot use cTrader
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FTMO South Africa Review 2024: Leader of Prop Firms?
Swen Keller
In the crypto world Swen has consistently found success through his effective communication skills and the unique ability to navigate the details.
- URL: https://ftmo.com
- Profit Split: Up to 90/10%
- Headquarter: Prague 1, Purkynova str. 2121/3, 110 00, Czech Republic
- Max. Funded Capital: $400,000
- Year Founded: 2015
- Evaluation Fees: From €155 to €1,080
- Trading Platforms: MetaTrader 4, MetaTrader 5, cTrader
- No. of Challenges: 2 FTMO challenges (Step 1 Evaluation and Step 2 Verification
- Tradable Instruments: Forex, Indices, Stocks, Commodities, Crypto, Metals CFD, Futures, Cash CFD, Equities CFD, Cash CFD, and custom instruments
- EA Allowed: Yes
- Maximum Leverage: 1:100
- Profit Target: $1,000 for Step 1 and $500 for Step 2
FTMO South Africa Review: Our Opinion
FTMO stands out for its restriction-loose Forex trading conditions. Unlike most prop firms, FTMO does not place restrictions on news trading, acceptable trading strategies, or a profit target at the second stage.
That said, users in the United States only have access to 2 trading platforms and cannot use cTrader with the firm.
Table of Contents
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Intro/Company Overview About the FTMO Prop Firm
FTMO was founded in 2015 and is headquartered in the Czech Republic.
The company is a prop firm that searches for trading talent to hand over trading capital to generate profits for the business and trader.
Selected traders can receive up to $200,000 in funding and keep up to 90% of the profit generated.
FTMO has won several awards including the EY Entrepreneur of the Year in the 2022 Czech Republic Technology Category.
Currently, the prop firm has paid out over $167 million to FTMO traders, facilitates over 16 million open trades monthly, and hosts traders from over 180+ nations.
FTMO Prop Firm: Reviews
FTMO proprietary trading firm has a 4.9/5 star rating on user review platform TrustPilot.
In the Trustpilot review breakdown, 94% of FTMO challenge traders rated the proprietary trading firm 5-star while less than 1% rated it 3-star, and 2-star separately.
Lastly, 2% of FTMO traders rated it 1-star.
In terms of the content of the TrustPilot user reviews, most positive reviews were satisfied with the FTMO challenge payout system and customer support.
A lot of positive reviews also praised the proprietary trading firm for the FTMO challenge trading experience and seamless conditions.
Unique Features
FTMO Trading Apps
Aside from a trading account, FTMO offers several tools and trading apps that can make your trading experience better and easier.
FTMO offers the following trading apps: Account Metrix, Trading Journal, Equity Simulator, Account Analysis, and Statistical App.
Account Metrix
This is a unique web application that you can use to monitor your progress to becoming the FTMO Trader.
Account MetriX serves every trader undertaking the Challenge, Verification, and free trial.
It gives you a complete overview of the trading objectives and also gives access to a wide range of statistics.
Statistical App
This app shows you all meaningful and number-based probabilities of the market behavior that you can take advantage of as a trader. This enables you to trade smarter and instantly increase your profitability.
Account Analysis
With this application, the FTMO system uses all your trading data including commonly unavailable data to formulate several indicators that can reveal places to optimize your strategy.
This application is suitable for both beginner and professional traders.
Equity Simulator
Since the equity curve does not move in a straight line, the equity simulator helps to simulate any possible outcome and be prepared for it.
The aim of the simulator is not to calculate how much money you are going to make in the future, it simply helps you deal with the randomness of the equity curve and the associated drawdowns.
Trading Journal
The trading journal automatically keeps a record of the trading results of your trades.
It automatically stores all trades; all you need to do is write down your feelings and thoughts about the trades.
You can also assign screenshots for both the entry and exit of every single trade.
By journaling your trading results, you can discover lots of interesting information that can help you eliminate future trading mistakes which can improve the overall success of your trades.
Mentor App
The Mentor application helps traders achieve better results by strengthening their discipline. Just like the name implies, the app acts as a mentor and forces you to follow your own rules and risk limits. It also monitors your trading objectives.
Evaluation Process
FTMO has a 2 stage evaluation process separated into Step 1 and Step 2.
Step 1 - The FTMO Challenge
This is the first step of the FTMO evaluation process.
Before the FTMO proprietary trading firm allows you to trade their FTMO account they need to be certain that you can trade and manage risk properly.
There is no time limit within which you are required to hit the Profit Target, however, the minimum time to finish the FTMO Challenge is 4 trading days.
That said, the Profit Target for this FTMO Challenge step starts at $1,000 with a Normal strategy and $2,000 with an aggressive strategy.
The Profit Target gets up to $20,000 for a trading balance of $100,000 for an Aggressive strategy and a balance of $200,000 for a Normal strategy.
Step 2 - The Verification
This is the second and final stage of the FTMO prop firm evaluation process.
The goal of the Verification stage is to evaluate your trading consistency.
FTMO states that they need to be certain that they can trade your strategy or system profitably in the long run while adhering to their trading rules or conditions.
Also, when compared to the FTMO Challenge, the Verification stage has more relaxed rules.
For example, in the Verification stage, the Profit Target is cut in half, and just like with the FTMO Challenge step you have an unlimited amount of time to finish.
Once you successfully pass all trading objectives then you will become an FTMO trader.
The Target profit at this step starts at $500 for Normal trading strategies and $1,000 for Aggressive trading techniques to $10,000 for Normal trading and $10,000 for Aggressive strategies.
After passing the Verification stage you will become an FTMO trader with no Profit Target and no minimum trading days.
FTMO Prop Firm Fees, Charges, and Profit-Share
FTMO charges different evaluation fees based on the balance you’re applying for and whether you intend to use a normal or aggressive FTMO-funded account.
These fees are refundable once you pass the 2-step evaluation process.
For Step 1 FTMO Challenge at normal trading risk, the prop trading firm charges from €155 to €1,080. On the other hand, for aggressive trading risk, FTMO charges from €250 to €1,080.
For the Step 2 Verification stage, FTMO does not charge any fee. And once you become an FTMO trader you’ll get your refund.
Profit Split
FTMO offers a profit split of 80/20 during the evaluation process but once you become an FTMO trader you can get up to a 90/10 profit split where you receive 90% of the profit generated.
Cryptocurrencies and Other Tradable Instruments on FTMO
FTMO supports the trading of Forex, crypto, commodities, Indices, Metals CFDs, Equities CFDs, Cash CFDs, Futures CFDs, and Exotics.
Forex
The following Forex currency pairs can be traded on FTMO:
AUD/CAD, AUD/JPY, AUD/NZD, AUD/CHF, AUD/USD, GBP/AUD, GBP/CAD, GBP/JPY, GBP/NZD, GBP/CHF, GBP/USD, CAD/JPY, CAD/CHF, EUR/AUD, EUR/GBP, EUR/CAD, EUR/JPY, EUR/CHF, EUR/USD, EUR/NZD, NZD/CAD, NZD/CHF, NZD/JPY, NZD/USD, CHF/JPY, USD/CAD, USD/CHF, and USD/JPY.
Metals CFD
Tradeable metal CFDs on FTMO include: XAG/USD, XAG/EUR, XAG/AUD, XAU/EUR, XAU/USD, XAU/AUD, XPD/USD, and XPT/USD
Futures CFDs
Available futures CFDs include NGAS Futures (NATGAS), Dollar Index (DX), and Euro Bund (ERBN).
Equities CFDs
FTMO offers the following equities CFDs:
Apple (AAPL), Air France-KLM ( AIRF), Allianz AG (ALVG), Amazon.com ( AMZN), Alibaba (BABA), Bank of America ( BAC), Bayer AG ( BAYGn), Deutsche Bank (DBKGn), Meta Platforms ( META), Alphabet Inc Class C (GOOG), IBERDROLA (IBE), L.V.M.H (LVMH), Microsoft (MSFT), Netflix (NFLX), NVIDIA Corp (NVDA), Pfizer (PFE), Ferrari (RACE), AT&T (T), Tesla Motors (TSLA), Visa (V), Volkswagen AG (VOWG), Walmart (WMT), and Zoom Video Communications Inc (ZM)
Exotics
Available Forex exotics include:
EUR/CZK, EUR/HUF, EUR/NOK, EUR/PLN, USD/CZK, USD/HKD, USD/HUF, USD/ILS, USD/MXN, USD/NOK, USD/PLN, USD/RUB, USD/ZAR, USD/SEK, and USD/TRY
Cash CFD
Tradebable cash CFDs include:
Australia 200 Index (AUS200.cash), US 30 Index (US30.cash), Spain 35 Cash Index (SPN35.cash), Euro Stoxx 50 Index (EU50.cash), France 40 Index (FRA40.cash), German 40 Index (GER40.cash), Hong Kong Index (HK50.cash), Japan 225 Index (JP225.cash), US Tech 100 Index (US100.cash), US 500 Index (US500.cash), UK 100 Index((UK100.cash), Crude Oil Brent Cash (UKOIL.cash), West Texas Intermediate Crude Oil Cash (USOIL.cash), US Small 2000 Index (US2000.cash), Cocoa (COCOA.c), Coffee (COFFEE.c), Corn (CORN.c), Soybean (SOYBEAN.c), and Wheat (WHEAT.c).
Crypto CFDs
South African traders can trade the following Crypto CFDs on FTMO:
BTCUSD, DASHUSD, ETHUSD, LTCUSD, XRPUSD, XMRUSD, NEOUSD, ADAUSD, and DOGEUSD.
Is FTMO Legit?
Our first-hand investigation into this Prop Firm demonstrated that it is legit.
FTMO Evaluation Global is registered by the municipal Court in Prague, Czech Republic.
The company has been in business since 2015.
The Prop firm has won several awards including the Winner of the fastest-growing tech company in the category “Rising Stars” 2020 by the Deloitte Technology Fast 50 Central Europe.
It also has excellent customer reviews on third-party review platforms that attest to the legitimacy of the platform.
Security: Is FTMO Safe to Use?
From our direct engagement with this Prop Firm, we’ve ascertained that it is safe to use.
Just like most Prop firms, it is not regulated by any financial regulatory body, because it does not hold clients’ funds. This, however, does not prevent it from having security measures in place to ensure a safe trading environment and security of users’ data.
FTMO processes users’ data in an encrypted database on computer devices.
It also has organizational and technical measures in place to protect users’ data from unauthorized access, disclosure, alteration, or destruction.
Trading Conditions on FTMO Prop Firm
Based on our team’s first-hand trials with this proprietary trading firm, we can confirm that FTMO offers one of the most seamless trading objectives in the industry.
For example, as listed below the FTMO Challenge does not require skilled traders in South Africa and other supported nations to pass the program within a particular set period.
Step 1 - FTMO Challenge Trading Objectives (Conditions or Rules) - Normal Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $500
Maximum Loss: $1,000
Target Profit: $1,000
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $1,250
Maximum Loss: $2,500
Target Profit: $2,500
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Target Profit: $5,000
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Target Profit: $10,000
For $200,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Target Profit: $20,000
Step 1 - FTMO Challenge Trading Objectives (Conditions or Rules) - Aggressive Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $1,000
Maximum Loss: $2,000
Target Profit: $2,000
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Target Profit: $5,000
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Target Profit: $10,000
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Target Profit: $20,000
Step 2 - FTMO Verification - Normal Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $500
Maximum Loss: $1,000
Target Profit: $500
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $1,250
Maximum Loss: $2,500
Target: $1,250
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Target Profit: $2,500
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Target Profit: $5,000
For $200,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Target Profit: $10,000
Step 2 - FTMO Verification - Aggressive Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $1,000
Maximum Loss: $2,000
Target Profit: $1,000
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Target Profit: $2,500
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Profit Target: $5,000
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: 4 Days
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Profit Target: $10,000
FTMO Trader - Normal Trading Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $500
Maximum Loss: $1,000
Profit Target: X
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $1,250
Maximum Loss: $2,500
Profit Target: X
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Profit Target: X
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Profit Target: X
For $200,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Profit Target: X
FTMO Trader - Aggressive Trading Strategy
For $10,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $1,000
Maximum Loss: $2,000
Profit Target: X
For $25,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $2,500
Maximum Loss: $5,000
Profit Target: X
For $50,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $5,000
Maximum Loss: $10,000
Profit Target: X
For $100,000 Balance
Trading Period: Unlimited
Minimum Trading Days: X
Maximum Daily Loss: $10,000
Maximum Loss: $20,000
Profit Target: X
Beyond the trading objectives or rules listed above, FTMO allows you to trade during news events without any restrictions.
However, FTMO traders having the FTMO Account or FTMO Account Aggressive account types cannot execute news trades or close open positions in the window of 2 minutes before or after the release of certain prespecified news events.
These restrictions do not apply to an FTMO Swing account.
You will also need to close your positions overnight when you become an FTMO trader with an Aggressive account.
This is not required in the FTMO Challenge or Verification stage.
FTMO allows the use of trading robots (Expert Advisors).
Trading Experience
Based on our first-hand observations of this crypto prop firm, we can state that FTMO offers a trading experience suited to both beginners and skilled traders.
The platform offers a wide range of financial markets and unlike most proprietary trading firms, FTMO does not have the maximum amount of time it gives traders to hit trading objectives.
It also offers leveraging and allows users to use any trading strategy even swing trading and news trading.
Different Platforms Used to Trade
FTMO supports the following trading platforms: MetaTrader 4, MetaTrader 5, and cTrader.
However, due to regulatory reasons, residents of the United States will be unable to choose the cTrader platform.
Does FTMO Prop Firm Offer Education?
Yes, FTMO offers education via the FTMO Academy which offers various written articles created to teach beginners how to trade.
It covers topics from trading psychology, gives trading tips, and has proper risk management courses for seasoned traders.
How Does FTMO Compare with Other Prop Firms
The 2 main proprietary trading firms competing for FTMO’s audience are Blue Guardian and FundedNext.
In comparison to both options, FTMO offers the most restriction-free evaluation process. It has an unlimited evaluation process time.
That said, FTMO and its 2 competitors offer an average price range for access to evaluation.
Conclusion
FTMO gives users access to a large selection of financial markets and has minimal trading restrictions.
However, for access to higher funding evaluation, FTMO charges quite high though within range of what other prop firms in the industry charge.
FAQ
Most frequent questions and answers
Yes, FTMO pays South African traders within 1 to 2 business days of requesting a payout.
You need from €155 to €1080 depending on the funding account type you want to open.
FTMO gives you up to $200,000 in trading capital.
Yes, FTMO is good for beginners as it offers an academy with courses targeted at newbie traders.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
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