Capital remains the lifeblood of every business, and more often than not, many businesses go under from being starved of funds. The challenge of raising capital to fund business has always been with a man and will remain to be a source of anxiety for as long as man continues to explore his entrepreneurial zest. Forex traders are not insulated from this challenge. And that’s why FTMO Review is must to read.
Many options are open to traders and entrepreneurs who want to raise funds for financing their businesses. And it is essential to choose the right funding option most suitable to you. Forex Traders seeking for a legitimate source of funding for their business can look the direction of FTMO.
In this article, an effort is put to dispassionately FTMO Review and what hope it holds for traders and prospective traders in funding their business.
What is FTMO?
The FTMO.com project originally began as Ziskejucet.cz. It was brought into the limelight in 2014 in Prague by the current CEO & Founder Otakar Suffner, and a few young day traders. Having themselves experienced the huge disappointments that come with raising capitals for business and triumphed, they decided to start the FTMO challenge. The FTMO team recognizes that when they help other traders to succeed, they also succeed in the process.
FTMO is an online registered company that seeks to help traders and potential traders by providing them capital when the traders successfully pass a challenge. FTMO primary assignment is to discover successful forex traders with the aim of moulding them into Fund Managers. It is achieved by allowing the traders to trade leveraging FTMO’s financed accounts. After that, the traders keep 70% of accrued profits without risking their fund. Sounds pretty straightforward and very appealing, but is it so?
What Makes FTMO Unique?
For any trader who intends to choose the FTMO project, the inherent benefits such as its professionalism and client centricity set it head above every other project out there.
Unveiling the FTMO Challenge
The FTMO project selects beneficiaries of their funding by offering them a lifetime opportunity to partake in a challenge. The tow way challenge which is the most vital part of FTMO is a 30-day simulated trading challenge. It offers a verifying way of screening all applicants before selecting the most deserving of the lot. To partake in the challenge, intending traders begin by paying a fee for the challenge. While this is subject to their initial capital requirement, maximum loss limits per day, profit target and buying power. The traders make decisions at the point of registration to either partake in the trial or full challenge.
During the first stage of the assessment procedure, which is the FTMO Challenge, a trader is required to demonstrate his discipline and trading skills. Here, no specific rules apply as long as your strategy helps you to achieve your trading objectives. If you scale the hurdle here, you proceed to the verification stage. Sounds exciting, doesn’t it?
At the verification stage, traders are assessed for consistency and ability to survive for about 60 days. Once a trader passes the verification, he becomes an FTMO trader, ready to trade the capital provided him.
At this stage, you can start making real trades with actual money and enjoy the benefit of keeping 70% of the generated profits. You are, however, expected to remain consistent and earn more capital.
Benefits of the FTMO Project
No limits on trading style
With FTMO traders are at liberty to trade your trading strategy with no limits or restrictions. Despite being a newbie or an established trader, expectedly, every trader has their preferred trading styles which are compatible with their strategy.
If you are one who loves the prospect of freedom, which offers you the leverage to do whatever you want and whenever then certainly FTMO it is. For traders who do not seem to have control over their emotions, FTMO platform offers the opportunity to use EAs. The good part is that FTMO consciously builds traders to imbibe discipline in their trading. Therefore, deploying risk management strategy is almost a routine.
Several Trading Platforms
Additionally, FTMO offers traders multiple platforms ranging from MT4, MT5, to cTrader. When it comes to the choice of trading platforms, different traders have preferences for different platforms. And that’s usually based on user-friendliness, responsiveness, reliability, and analytical tools trade automation.
You do not have to express so much worry about the platforms you are comfortable with. Since you only have to choose between various options available to you depending on what suits your trading strategy. FTMO provide the necessary support for traders in their trading experience by availing them the best brokers and trading platforms.
Professional Account Analysis
One thing established traders will tell you is that all traders go through cycles. One minute you are at the peak of the world the next minute, you are at the bottom. I imagine that every trader wants to know what their stats look like, to know what they are doing wrong, and know where they are going right.
Everyone wants to know which instrument is ideal for trading, to know their strengths and weaknesses. Typically, just like several things in trading, you are expected to do your analysis by yourself. Still, you can ride on the insight provided by FTMO by taking advantage of free account analysis. You also get the benefit of honest feedback. With those feedbacks, you can make necessary amends and become a better trader.
Trading Applications & Psychologist
The right trading psychology no doubt gives you a mental edge in trading. In several cases of failure in trade, it is the inability to conquer emotions that is the trader’s Achilles heels.
Being a member of the FTMO community grants, you access to trading applications developed in-house and support from FTMO’s performance psychologist.
Support and Customer Care
FTMO is founded on the tenet of support for the trader. The system has a lot of support mechanisms ranging from the various application, platforms, mentorship system and so on.
While the different customer care channels are also available you such as email, live chat, or have a representative call you. The customer service is present for you on every step, to ensure the customer never feels alone.
Traders on FTMO community enjoy the leverage of 1:100. Hence, making it possible to make a significant sum of money with just a limited amount of capital. With a 1:100 leverage, it means that you place a trade of up to $100 with just $1 in your account.
You must recognize that is not FTMO is not a broker. FTMO is also not under any form of regulation or license from any government. So, no government oversees its activities.
Conclusion on FTMO Review
Here you go with the FTMO Review. A viable funding option for traders who truly want to succeed besides being funded. Since funding through FTMO comes with an added advantage, especially since you have the opportunity to simulate trading before you trading with physical cash.
If you love the idea of a challenge, you can also take a dive and enjoy yourself, who can tell, you may be the next FTMO trader!
Furthermore, do not forget to scroll through our site using this link to check equally cool and worthy tools and indicators to use.