How does ftmo make money reddit. You'll learn so much more about yourself and your trading style and gain real time experience. How do their clients make money though? Assuming there is people who can make 10% a month without drawdown consistently, why would they need such restrictions? This screams shady business. The $400 discrepancy you’re explaining could just be slippage that wasn’t picked up on your trial. You will go through the same cycle every prop firm trader goes through. Tried Topstep and failed miserable for 2 years. When you make profits on FTMO, you will be charged 30%, and you can keep the rest 70%. You’re trading a simulated account, even when you pass and get “funded”. I have downloaded the cTrader from the FTMO website and I tried to login with the login credentials from my FTMO account but it failed. My advice would be check back at the end of June and see if Kasper is still up there. They’ll still give you payouts in the case you are successful but they will never give you an account with real money. a $1,000 regular account, that the position sizes on the $1,000 account wouldn't be anywhere close to the amount of potential risk you could have. Sep 11, 2023 · Successful candidates gain the opportunity to manage an account balance of up to $400,000 and keep a significant share of the profits they generate. . That is why they limit it, it comes from their pocket. 25? Welcome to FXGears. FTMO does have some downsides though the biggest being the news restrictions. and that's it. I trade my ftmo account as if it’s only half it’s actual value. Now we can trade through high impact news and hold runners over the weekend if we want. How much income do you really need/can actually manage effectively? It is definitely safer to make 1000 per month from a 100k account than a 10k account, however it might be more worth it to aim for 2000 with . 666 = 37% natural probability if you are a monkey. Other wise they would keep them to their selves. So OCCASIONALLY they'll make 20-50% gain on a dispensable account and 2-5% on their compounded. Unfortunately, a lot of people will pass the challenge & verification and fumble the actual account, meaning they’ll never get the refund 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. No what I meant, is for example when you first start trading they'll pay you from the money they make from evaluation fees and if you are a profitable trader then they'll start copying your trades so my question was how much* money realistically before FTMO starts copying the trades and giving you money from the profits of the trades they made are the people that pass your ftmo challenge legit? : r/Forex Then you should consistently aim for something like 2. So, make sure you don’t set unrealistic expectations with it. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. I’m in Canada, after long discussion with my accountant, I found the best way to do a job remotely and get paid from foreign source is to treat this income as export business. Edit: Reddit moment. If it takes you 3 times you still lost $1200. FTMO would not allow not you to lose up to 5000 on any given day if you are experimenting with (say) 100 thousand Dollars. And this is close to impossible in most occasions. For 5ers, if you make 10% every 4 months starting with their 80k account (max), you'll need 6 scaling cycles to get to 4M = 24 months = 2 years. I just failed phase 2 of ftmo after passing phase 1 in 2 days as well. So, you’re welcome to any successful traders on ftmo I just donated some cash for ya. All you need to do is Google the address of any of these firms - they are all in publicly available rental offices. I doubt FTMO are making up the numbers. Just think about it, any experienced traders know for sure that it is extremely hard and even irrelevant to make 10% returns a month. From the beginning, FTMO's goal has been to help skilful traders solve the problem of undercapitalization. But for the challenge, they're faced with the same problem as before. 8 - Win rate of 55-60%. However, I won $400 in profits for the same month. 1%. The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. What they do with them to make money should be none of your concern so long as they pay you as agreed. For example, at 7% total drawdown you are forced to make 7% back with just breathing room of 3%, just to not loose the subscription money. I do think its good for good traders with no capital that can get through the evaluation cheaper than the capital provided and then make that money back plus some without breaking any rules. I have just bought an FTMO challenge and I got my FTMO challenge login credentials from the clients panel. Once you make it through an evaluation, real emotions hit. 25% per trade with Mentfx since they have unlimited time per challenge, as opposed to 2% per trade with FTMO's 30 day limit. Lol. Yeah you can get a retail trader assume he/she can do better using 200/1 leverage, but that is very short lived - which is exactly what the brokers/banks love - free money while they operate identically to a casino with the name professional customers trust. Feb 21, 2024 · The goal of the simulator is not to calculate how much money you’ll make going forward but to offer different potential outlooks. As a beginner expect to take a year learning a strategy and another six months to year mastering that strategy and then you’ll begin to see some consistency. I wish I knew this when I first started. Also, their office - like the others out there - is a "Wework" type of building. Like, they think that if you have more money, you'll make more money, even if it's fake money. or some that profit a little , they don't send info to prop firm cuz not make them good money. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. I’m going to take it again with a smaller account. Swing traders can go through a multi-month drawdown even with a profitable strategy, b This is to show consistency and that all you need to make is $200 (On a $50,000 Account that's only 0. It's a huge improvement for day traders at least. I am sure most don't trade shares or crypto but I was asking those who do if its feasible with those fees. It applies to the balance. Why should I join FTMO? Good afternoon Traders! I have successfully passed my $100K FTMO challenge. I admit, it can be seen as overly enticing to new traders thinking they're going to make easy money without having to put in any work, but the consequences of someone without a backtested strategy throwing $5k at a regular broker is far, far worse than them blowing an ftmo challenge and getting their wake-up call that way. Funded traders can request a payout on-demand. In the other note I believe in every single one y’all who are trying to make a change. the rest, is like a dummy who happy , got certificate yay. The reason is they make you think you are loosing because of your poor risk management. A trader can make $10K on a trade but FTMO might make $50k-$100k on that same trade and that’s just in respect to that one trader. Lol I invest my money, I don’t ‘trade’! And I have a job! So I don’t think your opinion has any weight with me! Clearly my life’s direction is more fruitful than yours! As you said, you have no money that’s why you prop trade and a forced to share any profits you probably won’t make. FTMO is demo account and just a trading tournament with a winning edge for the company. 5%) 2 phase: make 5 with 10 drawdown (66. How do I withdraw my profits? Even though FTMO Traders trade with fictitious capital only, they are entitled to obtain a reward in the form of real money if they can generate “profit” on an FTMO Account. 5% average monthly return, which is very doable with a working strategy and good risk management and trading psychology). what will be 1. It is a big NO. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Got to give it to FTMO. A few answers to your questions When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. Plus you can lose your account due to violation of rules which are not even clear any time. Edit: I also only stay on the charts 2 hrs a day 4 days a week. Now I can make a pretty consistent 50 in about 5 minutes if the trend is set up right. FTMO Withdrawals: When Does FTMO Pay Out? Like everything else the service offers, FTMO really goes out of its way to make withdrawals quick and painless. Let's say I make 1. The best thing I found to do is just to sit out of the market and take a step back if I'm really not feeling the price action. I did not contact support. What is your opinion on social media traders like cue Depends on your situation. FTMO or any Forex funded account for that matter, is not worth your time and doesn't make you any money in long-term. It’s all simulated. I guess that's where personal preference comes in because I'm perfectly fine with risking 0. I chose MFF because they were cheaper and had an easier to pass evaluation model. On your personal $500 account, to make $5000 a month you will have to risk a lot and have to trade a lot. It’s in their terms and conditions. 5-1. If you are profitable trader you can make good money using normal broker. They will never give you access to their own money. The refund given is only on that attempt. The prop firms make A LOT of money from people blowing account after account to cover the payouts of the really good traders who get payouts after payouts on a bimonthly level. It's a neat thing to do if you're going to waste that money anyway. Yet, if you make a mistake you lose your money. That's true. They will take signals from everyone, rate them by how good the people are and synthesize much better signals based on the collective. Do my statements make sense? If yes, why would anyone not go for a swing account? We would like to show you a description here but the site won’t allow us. edit 10 months after the post: After failing 7 different My Forex Funds 5k accounts I finally passed my 8th try with a 10k. The idea that you have a $200k account at your disposal, and the insane calculations. Btw if you want to practice before starting the challenge you can just keep working on a demo account using oprey server, and treat it like a real challenge How about a Free Trial? Jul 31, 2024 · FTMO Review 2024: Is this Prop Trading Firm Still Worth It? So this how the first FTMO payout went. How FTMO works Im funded with FTMO, TFT and TopStep aswell as having my own account. No, not at all. Well, we’re about to find out who the liars are I think. 5ers allows 3 instant funding accounts (can be scaled up to 3 x 4M). 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. After your first payout with FTMO you basically are playing with house money. The firm also offers tools for coaching, account analysis, and performance tracking to help traders on their journey toward financial independence. This is essentially free money for them to offset losses. I mean yeah, that's how they make money. 2% instead of 1000 with . People are selling their shitty EA products because they very well know that it is shit and can't make money. So they sell it to monetize. Be sure to be a profitable trader though before taking these challenges or you will just waste a lot of money! During demo account I didn't consider how much money I had to invest and how much I could make off of it easier because of how much less I need it to move to make money. You shouldn't care if you lose a challenge or blow an account. That’s gonna become more money than most people’s salary. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. FTMO will allow up to $2M accounts by adding $100k to a good standing 400k account every 4 months. Be smart, nobody is going to give you a money printing machine for 50 USD. 25% of $500? $6. Unrealized profit will not count towards the drawdown during a pullback. 5ers claim that their risk management desk hedges exposure with liquidity providers, if they do then commissions can be real and they can make money without relying on failed challenges. FTMO or any Forex funded account for that matter, is not worth your time and doesn’t make you any money in long-term. If you are consistent and profitable with futures or forex, using a prop firm may be better than a personal account. They'll trade there normal compounded account with 0. Step 1 - FTMO Challenge is funded account really worth it? : r/Forex The 10% profits a month is actually a trap set by prop firms like FTMO to make most of the challenge takers lose and for them to make easy money. And there are props that deal live money accounts on A-book brokers, with no equity-based drawdow, and no maximum time As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. And even challenge is not so gambling because 1 phase: make 8 with 10 drawdown (55. Thats why we have Swing Accounts like on FTMO now cos that what swing traders do primarily. You still have a lot of breathing room to expand safely into. They are 100% legitimate, if you can trade profitably and manage risk then you can make a lot of money with MFF. Forcing yourself to trade everyday does not work well (for me especially). Ask me how I failed my FTMO challenge with 0 losses you can't overtrade ir take high risk like you trade your own money. Another point to note is that trading with own money is always better and profitable in long term. 1% risk and trade-copy to there "dispensable accounts" with 10x multiplier. And I do think that some of the pricing model do present unfavorable conditions. Key Takeaways: FTMO generates revenue through a combination of client payments for access to training programs and resources, as well as its own trading activities. 5% monthly, if I was trading a personal 50K account, I'd be up $9000 EOY. And they are doing it all with millions more than the traders account balances suggest. I lost a good amount of money selling too I'm debating if I'm good enough to give ftmo(10k account $150) a try or maybe do a 1-2 k live money account. Over 90% of people who apply for ftmo fail their challenge, which of course is expected due to the high failure rate of retail traders in general. On FTMO's YouTube channel, I was watching one of the videos about the process and they said in the video that you don't need to contact them because they already know your account is ready for the next step. None of these people read past the title lol. Bad months happen. 4% per day and 2% per week) to make $4,000 per month which is a respectable income. I’m not losing that sucker. For swing traders, it's a great improvement too once they actually get the funded account. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. They keep the difference. The chances of being a profitable trader are so small that FTMO | The Modern Prop Trading Firm since 2015 Trading is not easy. 555*0. What is the legal relationship between an FTMO Trader Trading and Drawdowns 80. Trading is very hard but super rewarding. com, a trading forum run by professional traders. My opinion would be go for it, but be disciplined and use it to fund your personal account to a good size account (10k, 25k, 100k, whatever you're comfortable with). As long as you keep the challenge fee money aside, you can retake it again if you happen to lose it. The year 2021 in numbers My concern isn’t taxing as self vs LLC the real concern here is how to account the foreign income for tax purposes. Aug 18, 2023 · FTMO has built a solid reputation in the world of proprietary trading. Do your own research, develop your own system. There's no time limit, so you can tweak and adjust along the way to get getting funded. If you only care about money you’ll probably give up too quick. But here is the problem: is FTMO using the same business model ? Especially because they claim they use their risk management for demo accounts connected to live markets. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. I quit my job a year ago and make more money then i ever could have dreamed off. Third, FTMO allows user to have a maximum of 400k, which is 2 200k accounts (can be scaled up to 2 x 2M). 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. Here's the dark truth about the business model behind prop firms such as FTMO and My Forex Funds. Don’t count on it being ignored once you’re live. Don't go for prop firms, the prop firm itself can go belly up like MFF or stop providing service in your country like FTMO did in India and USA. The reality is that prop firms like ftmo make ALOT of their money on people failing the challenge. Send them an email or use the chat feature to find out. The traders they have a lot of money behind probably have favorable conditions, I mean it just makes sense. 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. What are the pros and cons of FTMO? : r/Forex An interesting strategy you can do is place buy stop above resistance levels, sell stops below support levels on the 15-minute time frame, and make sure you have the proper stop loss set. ( I stay off on mondays because my backtests shows me to stay away on mondays) Do people actually make money from Forex? FTMO has carefully calculated and set up targets which are unrealistic, high chance for even a good trader to fail, to make 10% in 20 trading days (1 month) you are forced to open larger lot sizes to meet the target but when you do if market goes the other way only a little bit you end up failing the challenge because of the 5% daily drawdown rule, odds are basically against you, they are more A lot of people think that if you have a $10,000 FTMO account vs. This is my 3rd time with FTMO. Doing well maxed my funding on FTMO, I see that as a bank now lmao, currently doing the prop firm challenge and using a trade copier to mirror my entries onto my ftmo accounts, and US30 only I made the switch to this around 6 months ago if you are good enough to pass these challenges and get a payout you really don't need to use one of these companies. They hold overnight, all year round (albeit different assets at different times). How to trade Smart Money Concepts (SMC) The withdrawals you can make come from APEX funding and not another trader's you took the money from. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. If you are consistent, after more than 3 months, they will come and get you and you will go to the 3rd step: they will transfer you to their partner and will set up a live account for you. I have 2 questions: 1- When have you received your account after passing the challenge? 2- When do I receive the refund for challenge & how do I receive it? Side note: I have tried 7 prop firms since last year. Thus, during our time on the market we have been able to create more than 138,000 FTMO Accounts for our FTMO Traders. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. When you make profits on funded platforms like FTMO, besides joining fees, you will be paying fees from the profits as well. If you do, you will lose 610 Dollars which you must pay them before they would take you in on a demo account. I just waited until it came. on funded $100K account, $5000 a month means 5%, pretty much 1. So to get to $600k, it is possible with 8 months after verification and at least 4 payouts. Was surprised when the transfer hit my account wasn’t expecting it, but it’s legit. 1%-0. I don’t think they ever take you off of sim. Traditional prop firms who have physical trading desks make their money by selling order flow. 20 and 90/10 is not unreasonable payouts when you can attract people from around the world by being online based and yes, traditional props make a lot of money from people taking and failing evaluation/challenges but I wouldn't be surprised if FTMO actually makes more money from copy-trading and from selling trading services to investment firms. He says that phase 2 is not real money, but based on what I saw today, I don't believe it. Those who are really skilled and experienced can make very good money through FTMO without risking their own capital. 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. You’re basically selling them signals for the price of the profit you would have made. 25% a week. FTMO companies do not act as a broker and do not accept any deposits. FTMO or any prop firm for that matter is not worth the time and efforts. Also, make sure your “why” isn’t money. Hell yea, time for the 90% of losing traders to take the opportunity to make all their losses back by taking a challenge under an environment that is even more difficult than just the normal trading environment. Should I Hello, good day everyone. is FTMO legit & reliable? if yes, then do you think it's worth Does it matter how they are making money? you get paid for the profit you make and that's all matter. A small $1k-2k buffer would make sense if you’re aggressive, but I would never leave any sizable amount where it didn’t earn at least a tiny amount of interest. It is nothing. But once passed you can make decent by just properly trading, managing risk. If I was trading a 2M account, I'd be up $360,000. You can't open or close a position on certain pairs 2 minutes before or after a news release comes out that effects those pairs. If they have all that money, they aren't renting one of these offices. This is to teach people consistency and that just because you have a Net Profit in your trading account doesn't mean you should withdraw it and use it. You’re not trading with real money. 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. Their unique evaluation process, thought-out and designed for traders of all levels, has garnered positive FTMO reviews and ratings. These are the funds, but the banks still churn 200% in off balance sheet making. How do I actually make money? : r/Entrepreneur I also suggest people who have taken it and fail come forward and make it known as the current landscape of this subreddit is making it seem like asif everyone passes FTMO and continues earning big money every month for the remainder of their life. But they do not provide any more details. Apr 2, 2024 · In this article, we will delve into the details of FTMO’s unique revenue model and shed light on how they make money. Apr 19, 2024 · A Complete Guide for How to Make Money on Reddit Frequently Asked Questions You have to make a withdrawal before you can get the refund, if you account is negative you can’t take money out and can therefore not get a refund. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. You are currently losing money like the other 90% of traders? The maximum daily loss resets at midnight daily and does include both open and closed positions. That’s how these platforms earn money. They never give you real money to trade, they do say that they copy trade in a way. On my FTMO account under credentials with the login ID and password it also says platform DXtrade. Trust the process and don’t give up. There is no way around. All of them have 20-30% WR with very high RR. We would like to show you a description here but the site won’t allow us. 6%) So the probability to pass a challenge is 0. vpjxcq jjqqf ptqjk bqijhlu yyexmnn pwmbn mei kieq okkak xvnbeqa