FTMO is a trading platform that can provide you with enough funds to make significant profits. All you need to do is pay a small entry fee and complete a test that will prove your skills and experience as a trader. This test is actually a great way of practicing your trading skills on the real market, and you can use it as an educational opportunity to become truly proficient in trading. In this article, we explain how this test works and tell you more about entry fees and all the possible benefits.
About FTMO
FTMO is a pretty well-known trading intermediary that is favored by many experienced traders for the unique opportunities it provides. You don’t need to deposit money for trading on the platform: instead, the company gives you its own money and then takes a share of your profits. However, FTMO doesn’t just give its funds away to just about anyone: you have to pay a fee and pass a strict test. This test is called the FTMO Challenge, and it’s a really convenient method of improving your skills.
How it works
Basically, the challenge consists of four stages. On stage one, you pay an entry fee of €155 and get a sum of $10,000 for trading. You can pay more to receive more capital, and the maximum limit is about $200,000 per trader. Then, you have 30 days to make at least 10% of your initial sum in profits without losing more than 5% on a single day. On stage two, you have the same goal, but now you have more time: the company requires that you reach 10% profitability in 60 days.
These two stages serve as a verification of your skills. You don’t have to trade for consecutive months or weeks: if you can reach the profitability goal in a few days, that’s even better. Once you finish these two steps, you become a funded trader and receive $400,000 as your trading capital. You can use the money in any way you want to make profits, but you will be monitored, and your trading profits will be split 80/20. The fourth stage can be achieved by improving your performance further.
Scaling plan
The fourth stage of the challenge is known as the scaling plan. With enough perseverance and skill, it is possible to earn 10% of profits over four months of trading as a funded trader. If you manage to do that, you can upgrade your account and receive even more capital. There’s also a possibility to make your profits higher: they will be split 90/10 after the upgrade.
