Funded Accounts trading. Things to consider.

[trendie]

re: the FTMO from another thread, whats the overall state of this sector?

Is this regulated?
Where do you get info on best providers?
Any experience of them?
Any recommendations?
What to check and due diligence before signing up!

 

[counter_violent]

re: the FTMO from another thread, whats the overall state of this sector?

Is this regulated?
Where do you get info on best providers?
Any experience of them?
Any recommendations?
What to check and due diligence before signing up!

This is weird. Must be a sign ! I've just spent that last 24 hrs looking into FTMO.

What other thread ?

Edit......................Oh ok...found it.

 

[trendie]

This is weird. Must be a sign ! I've just spent that last 24 hrs looking into FTMO.

What other thread ?

Last few posts on "How I turned £3000 into £20,000 in 6 Weeks", which I posted on earlier today, (Aston1st)
and "FTMO and Legalities".

I have been getting some targeted ads on YT as well, over past few weeks,

 

[CavaliereVerde]

Another clone of Topstep trader ...
one word definition : hamster

Business model:
you pay to partecipate a contest, the organizer make a lot of money, few win and make few money.

Forex Challenge: Can you make a living from trading via prop firm FTMO?

Hi everyone, So I thought I’d try something new. Most of the messages I get here or on social media are asking for advice on how to trade for a living. Most of the people lack forex knowledge and dont have much capital. My advice on the latter is get a job, get a 2nd job and save. However a few...

forums.babypips.com

 

[trendie]

Broadly, FTMO allow you to buy a chance to trade investor money.
As does The 5%ers (5ers.com)

But,.....
FTMO, you buy a $10K account for EUR155.
You are expected to make $1K, but not lose $1K.

5ers, for example, you can buy a $10K account, for $400).
You are expected to make 600 to get to next phase, but not lose more than 400, 4%.
However, on target, the fund is doubled, and you have more money.

**Its a bit more involved, so you need to google these people yourselves, for more info **
** There are other plans, etc **
** I will put links here, but the mods may decide to delete them! (I wouldnt fuss over it) **

FTMO - Modern Prop Trading

Trusted modern prop trading firm. Looking for serious traders. Start trading with up to $200,000 on a demo FTMO Account.

ftmo.com

Instant Funding - The Program With the Highest Success Rate

Instant Funding Trading Account- Trade Forex live from day 1, no time pressure,and grow your account up to $4,000,000! Double your account on every target

the5ers.com

But, if you're only allowed to lose 4%, isnt that the same as a $400 account?
If you cant lose more than 10% on a 10K account, you effectively have only $1K to trade with?
I get it, you need to show constraint, and good money management.
I suppose, if you can modify your trading risk to fall within 4% or 10%, the reward is available once you've proved yourself.
I think the 5ers might be a better bet, since the investment increases on each milestone, whereas FTMO stays the same.

I am toying with taking the 5ers option with a $10K challenge.
Am I missing something about FTMO?

Any other funded trader options?

 

[CavaliereVerde]

But, if you're only allowed to lose 4%, isnt that the same as a $400 account?

This is precisely the point.
I think this comment by @itstradingtime explains perfectly the math.

Forex Challenge: Can you make a living from trading via prop firm FTMO?

Ok, I get your point. In my opinion, math is still on their side and not on the trader’s side. Considering TopStepTrader that is a leader in this field. The account of $150K has the following important requirements: Max Drawdown after getting funded $4,500 (3%); Monthly Price $375; Target...

forums.babypips.com

They sell you the dream that you are managing a serious amount of money, the size of the account is the bait.

 

[trendie]

hey guys

New to the forum

What's good about The5ers is that the evaluation is on a real account and not a demo, once you pass it (only 6%) you already get paid, in fact, it's instant funding

True.

But, you're still only allowed a drawdown of 4%.
I know its a way of exhibiting good risk control.
Good thing about 5%ers is that on successful increase of account to the milestone, 10%, your account amount is doubled.
So, from a 40K account, you go to a 80K account, etc, upto some max.
However, dont forget, you have to complete 40 trades as well.
I think at each level.

Downside, they dont allow trading indices, and DAX is my core instrument.

 

[trendie]

[Forex] - Trader Scouting and Prop Firms Overview and Comparison

UPDATE: We have migrated this resource to our new trader resource wiki: Volatility.RED You can find current info, and all future updates, over on Volatility.RED's Trader Scouting and Prop Firms Overview page. Scouting programs have grown in popularity in recent years and many are holding...

fxgears.com

 

[trendie]

Really interesting insights from FTMO by analysing traders that fail the challenges.
Note how some ramp up the lots when they are close to completing the challenge, then get impatient, or through revenge-trading.