FTMO is a popular proprietary trading platform that can give you a huge sum of money for trading, but you should pass a strict test first to prove that you are a reliable and successful trader. Moreover, you can increase your capital limit even after you pass the test, and this system is called a scaling plan by the company. It can help you grow your capital and get new opportunities if you are skilled enough. In this article, we explain how this plan works and how you can use it to increase your available capital.
FTMO is an international provider of financial services that allows you to trade on the real market with the company’s funds in exchange for a share in profits. It’s not a broker: you can’t deposit your money here. Instead, you just pay a minimum fee of €155 and get a chance to pass the company’s test. It’s a two-step test that intends to prove your trading skills. If you fail any step of the test, you lose your fee, but it’s possible to retry the test. If you manage to pass it, you receive about $400,000 to trade with.
FTMO scaling plan is a special system that allows you to improve your account even after passing the initial test. This system works like this: all FTMO accounts are updated every four months, and if you can comply with the company’s requirements, you can get an increase in your deposit. The criteria for this are pretty strict: you have to produce at least 10% in profits without suffering more than 5% daily losses. If you can prove that you’re a profitable trader, you get more money.
You should also process at least two payouts during these four months. If you are successful, FTMO will automatically upgrade your account. All in all, you can grow your standard account to the sum of $2,000,000 if you manage to stay profitable in the long term. Scaled-up accounts also receive more profits: your share changes to 90/10 instead of 80/20 when you get promoted. FTMO gives you a 25% increase of your deposit, so you need just four months to turn $400,000 into $500,000, and so on.
When it comes to trading, FTMO is a pretty convenient platform. There are many different assets, and you can use leverage rates of up to 1:100 to make significant profits. You can trade with MT4, MT5, or cTrader, so choose what you like the most. There is also a demo account for practice.
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