FTMO is one of the best in the Proprietary Firm segment. It offers advantageous cooperation conditions, allowing professional traders to improve their skills and knowledge by working with private capital, the amount of which depends on FTMO minimum deposit. However, FTMO is more than just a funding program, as its members receive multiple benefits, including unique software to track and systematize their performance, as well as fast and efficient market analysis.
How do I become FTMO trader?
Given the incredible resources that FTMO provides its partners, it simply cannot afford to take every promising trader on board. It needs the best of the best. To that end, a unique two-stage evaluation system has been created. The first and arguably the most important stage of trader testing is the FTMO Challenge.
The firm has set certain financial targets, by meeting which the trader confirms that he or she is a disciplined, experienced and talented financial market participant. At the same time, the firm does not limit the traders in terms of trading style and does not regulate the main trading instruments and the size of positions. The main thing is to comply with the set framework and to make an FTMO minimum deposit, which currently stands at €155.
If one of the trading objectives is not met, the trader’s account will be cancelled and the agreement with FTMO will be terminated, but the trader may always try again by submitting a new request for a two-step test. Any progress made in the previous test will not be relevant in the reassessment.
If you have followed all the rules set by FTMO, all positions have been closed by the end of the test period and your final profit is still positive, then the company can provide a new FTMO Challenge absolutely free of charge! The firm understands that sometimes market conditions are not in a trader’s favor, so the company is willing to give a second chance to those who can really manage the risks and show excellent results!
Practice shows that even the world’s most sophisticated traders do not pass the FTMO test the first time. Many traders find it difficult to keep the drawdown rate under 5 per cent. Even if you are fully confident in your abilities, controlling the situation can be very difficult, remaining within the limits of Proprietary Firm. But there is a way out!