How does ftmo make money reddit free. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. 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. 25? Hey, I'm a fellow phantom trader. You’re trading a simulated account, even when you pass and get “funded”. FTMO started in 2015 as a university project by a few students who wanted to make a living by trading. 5%) 2 phase: make 5 with 10 drawdown (66. They will take signals from everyone, rate them by how good the people are and synthesize much better signals based on the collective. It is a big NO. And even challenge is not so gambling because 1 phase: make 8 with 10 drawdown (55. Profit split is 90/10 The beginning of a new year marks a perfect time to look back and evaluate what has been done in the past year and what can be improved in the upcoming one. So it all depends, I think getting funded is a good idea if YOUR STYLE suits the rules. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. That’s how these platforms earn money. You can receive your profits by a regular bank wire transfer, Skrill or cryptocurrencies. It’s all simulated. Ftmo is awesome and industry standard, I'm just not a fan of the "make profits in this amount of time" system, but if I'm not mistaken as long as your account is profitable they will let you continue even if you didn't hit the target. I chose MFF because they were cheaper and had an easier to pass evaluation model. on funded $100K account, $5000 a month means 5%, pretty much 1. Time limit is only con bro. /FTMO Evaluation US s. I went onto the Metrix section after the first day, and I am not sure how they calculate what they calculate. Was surprised when the transfer hit my account wasn’t expecting it, but it’s legit. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. A discussion subreddit for popular budgeting software You Need A Budget. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. I am sure most don't trade shares or crypto but I was asking those who do if its feasible with those fees. They will never give you access to their own money. 25% of $500? $6. 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. And his book, while not free, is one of the best resources you can get your hands on. 3 Billion dollars Age 50: 200 Trillion dollars, like the entire world economy The FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. 555*0. If traders could do this regularly, they would trade their own money and be among the richest people to ever live on planet earth. com Visa Card — the world’s most widely available crypto card, the Crypto. So OCCASIONALLY they'll make 20-50% gain on a dispensable account and 2-5% on their compounded. 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 Then you should consistently aim for something like 2. I mean yeah, that's how they make money. Another point to note is that trading with own money is always better and profitable in long term. So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! You’re basically selling them signals for the price of the profit you would have made. No stress trading on live account as we don't have time limit. Aug 18, 2023 · FTMO has built a solid reputation in the world of proprietary trading. This is basically impossible in ftmo due to their spread. My concern isn’t taxing as self vs LLC the real concern here is how to account the foreign income for tax purposes. Adam Grimes. 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. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. Just think about it, any experienced traders know for sure that it is extremely hard and even irrelevant to make 10% returns a month. 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. In the other note I believe in every single one y’all who are trying to make a change. You’re not trading with real money. the rest, is like a dummy who happy , got certificate yay. you can't overtrade ir take high risk like you trade your own money. If you don't have one, you're still in the strategy discovery phase. 5ers allows 3 instant funding accounts (can be scaled up to 3 x 4M). You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. As long as you keep the challenge fee money aside, you can retake it again if you happen to lose it. and that's it. Here's what I've gathered: Funding Pips: Pros: So you are failing to see, that prop firms are the brokerage that you are talking about, they just have opened up there doors with trading evals. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. Pay yourself first as it's not your money. Let's say the funding firm sets 10 pm as the tine the new day starts. When you make profits on funded platforms like FTMO, besides joining fees, you will be paying fees from the profits as well. 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. 6%) So the probability to pass a challenge is 0. Trading is not easy. Prop firms make more money with successful traders, than they do with someone trading an account for 150$ a month. He got so excited when he made like 2$. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Good luck Does it matter how they are making money? you get paid for the profit you make and that's all matter. You'll learn so much more about yourself and your trading style and gain real time experience. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. So, make sure you don’t set unrealistic expectations with it. FTMO is demo account and just a trading tournament with a winning edge for the company. They’ll still give you payouts in the case you are successful but they will never give you an account with real money. 36 votes, 52 comments. This FTMO review guides you through the FTMO Challenge, including the signup process, member dashboard, trading platforms, challenge rules, free trial and fees. Edit: I also only stay on the charts 2 hrs a day 4 days a week. With FTMO, once you get to the FTMO Trader stage you can receive real rewards for your performance. or some that profit a little , they don't send info to prop firm cuz not make them good money. They are 100% legitimate, if you can trade profitably and manage risk then you can make a lot of money with MFF. The payouts are processed within 1-2 business days upon confirming the invoice. o. FTMO or any Forex funded account for that matter, is not worth your time and doesn’t make you any money in long-term. On your personal $500 account, to make $5000 a month you will have to risk a lot and have to trade a lot. This is my 3rd time with FTMO. But they do not provide any more details. A lot of people think that if you have a $10,000 FTMO account vs. For stage 1 and 2, i do 1% per trade. I wish I knew this when I first started. Tonnes of trading. 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. com is the best place to buy, sell, and pay with crypto. We prepared a quick article to reveal some well-known as well as lesser-known statistics and figures that you might find interesting. They hold overnight, all year round (albeit different assets at different times). I quit my job a year ago and make more money then i ever could have dreamed off. I've done tons of comparisons. Got to give it to FTMO. It is definitely not that easy to make money as many social media influencers will try to show you. The refund given is only on that attempt. I'm currently recycling my profits for more challenges. 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. 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. It is nothing. 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. Be sure to be a profitable trader though before taking these challenges or you will just waste a lot of money! Good afternoon Traders! I have successfully passed my $100K FTMO challenge. If you succeed you are working on 10k account even if it’s says it’s a 100k one, so if you want to make 1k per day you have to make 10% per month, fir that better do it with your own money and you can make way more if you are able to make 10% per day Jul 31, 2024 · FTMO Funding Overview Profit Split 80% to 90% Daily Loss 5% - 10% Max Drawdown - Profit Target 5% - 20% Tradable Products Forex, Indices, Metals, At FTMO, you can do both. true. r. Everyone goes through revenge trading at some point, I counter it by placing 1 trade per day at an absolute maximum (scaling into winning positions not included), win or lose, I place the trade and wait for the outcome, after that I go off and do whatever else for the rest of the day. I tell people about Forex and they jump in right away with real money with no training and get mad when they lose money. I had a friend that did this. It is […] This isn’t a problem in higher time frames, however the way I make money is scalping a few minutes. Trust the process and don’t give up. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. Seriously this dude is a wealth of free knowledge. I myself have made quite a decent amount of profits in my journey of forex trading. 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. I was looking at getting a funded account, to use alongside my live account that i use with my own money. 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. All of them have 20-30% WR with very high RR. 1% risk and trade-copy to there "dispensable accounts" with 10x multiplier. Each has its own set of advantages and drawbacks. It’s in their terms and conditions. After that you start your XFA where it’s still a demo account but you can request payouts. And they are doing it all with millions more than the traders account balances suggest. 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. It makes me so mad. I just waited until it came. Periodically, we can allocate more balance into your FTMO Account if you’re consistently profitable. 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. Please note you can’t receive our FTMO Account based on your performance in the Free Trial or any other external track record. 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. There's no time limit, so you can tweak and adjust along the way to get getting funded. com, a trading forum run by professional traders. . I did not contact support. 25% a week. Yes, people do actually make money from forex. After your first payout with FTMO you basically are playing with house money. FTMO Evaluation Global s. They could make 5x as much from their 90/10 split for a successful trader. 8 - Win rate of 55-60%. The goal of the project was to find successful traders and provide them with the tools, education and generally the environment to make their dream come true. So this how the first FTMO payout went. It's a neat thing to do if you're going to waste that money anyway. Crypto. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. When you make profits on FTMO, you will be charged 30%, and you can keep the rest 70%. But once passed you can make decent by just properly trading, managing risk. I lost a good amount of money selling too This way you can determine whether you actually have expectancy in the market and whether if you actually can make money with the strategy you are tracking. ( I stay off on mondays because my backtests shows me to stay away on mondays) This is essentially free money for them to offset losses. Just a couple of questions. I went onto FTMO, as from what ive read and heard, they are ok, and i have signed up to their free trial to try their 70,000 account. Like, they think that if you have more money, you'll make more money, even if it's fake money. Lots of learning and lots of YouTube videos. I'm seeking your insights to help make my decision. You initially pay for a challenge account. Their unique evaluation process, thought-out and designed for traders of all levels, has garnered positive FTMO reviews and ratings. Now I can make a pretty consistent 50 in about 5 minutes if the trend is set up right. Then obviously cut the methods that don't work and add to ones that do. You can either make more money on your Live account or do more challenges to add more funds to the live account. Step 1 – FTMO Challenge. edit 10 months after the post: After failing 7 different My Forex Funds 5k accounts I finally passed my 8th try with a 10k. You can retake your Free Trial as many times as you want to make sure you are fully prepared for an FTMO Challenge. does not provide any of the investment services listed in the Capital Market Undertakings Act No. What they do with them to make money should be none of your concern so long as they pay you as agreed. com serves over 100 million customers today, with the world’s fastest growing crypto app, along with the Crypto. 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. Hello, good day everyone. FTMO or any Forex funded account for that matter, is not worth your time and doesn't make you any money in long-term. In addition to the 3 instant fundings accounts, you are also allowed to have 3 of their bootcamp accounts (80% split at max 4M), 1 free style account (100% split from day 1). I know I can make money with normal brokers with my style so I will stick to this. com DeFi Wallet. 5-1. It took well over a year before I was comfortable trading real money. Our FTMO Challenge is the first step of our Evaluation Process. 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. If someone is 30 years old and has 25k, and they make 314% per year, at: Age 40: 2. I myself find that I end up trying to take too many hits before I enter the right trades. We don’t charge any commissions for withdrawals. 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). After that you get your winnings transferred to live account where you have to survive with the money you made. I found for me intraday is best, and I'll take multiple trades throughout the day. Take your profits out and fund your next challenge. You never know when you will breach any of the rules or when they changed any of their rules. 666 = 37% natural probability if you are a monkey. If it takes you 3 times you still lost $1200. 5% average monthly return, which is very doable with a working strategy and good risk management and trading psychology). So I'd open a demo account and trade ideas for a while. Third, FTMO allows user to have a maximum of 400k, which is 2 200k accounts (can be scaled up to 2 x 2M). 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. You have to look at what time the broker acknowledges a day to be over. Welcome to FXGears. Thats why we have Swing Accounts like on FTMO now cos that what swing traders do primarily. I feel you when you said that most of us go through boom and busts. Once you are ready to accept an FTMO Challenge, you can configure your account here. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. 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 Im funded with FTMO, TFT and TopStep aswell as having my own account. They'll trade there normal compounded account with 0. Seeing a lot of videos lately of people passing FTMO challenges on Youtube. com Exchange and Crypto. FTMO companies do not act as a broker and do not accept any deposits. 256/2004 Coll. You can withdraw your reward anytime between 14 to 60 days from your first trade on your FTMO Account (Profit Split). what will be 1. Related to personal finance, budgeting, money and financial matters. That’s gonna become more money than most people’s salary. Hello Reddit Traders, I've been deep diving into the world of proprietary trading firms and have narrowed my options down to Funding Pips and FTMO. Feel free to post any news, questions, budget strategies, tips & tricks and advice related to YNAB. 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. qhmroyvpnetxaehapufjjdzvuqtccsxdvvxotlgjqxbrtasfvbbpgy