Can I start trading without putting up any cash initially? Can you make $100,000 or more with no outlay of capital? So many people have asked about this on the internet that potential backers have to wonder, “Is it even possible?” The correct response is “Yes.” The same is true with proprietary trading companies. They hire traders to put their own money into the market, letting them keep all the profits.
In contrast, they should be reliable and well-governed. An excellent example of a reliable prop trading platform is FTMO. Is this the one you need? In this 2023 FTMO reviews, we will discover.
Traders at FTMO, a proprietary trading business, may withdraw 90% of their profits. The platform’s strongest suit is its sophisticated and practical trading features. However, before launching into the forum, the most crucial consideration will always be.
What is a prop firm confusion? FTMO has the same strict rules as other prop trading firms. Participants must pass a trading challenge that limits the number of days they can trade, the amount they can lose on any given day, and the total amount they can fail during the challenge.
Overview of the FTMO for 2023
FTMO, a worldwide prop trading business, is headquartered in the Czech Republic, Europe. The best company for forex prop trading is FTMO because its trading conditions and options for funded accounts are the best. After meeting these criteria, competent traders get access to real money trading accounts.
The platform is run by the European company FTMO s.r.o., which has its main office at Purkyova 3, 110 00 Prague, Czech Republic.
More than 180 nations have adopted FTMO since the organization’s founding. The average monthly trading volume on the platform is 6 million, and the company has paid out over $23 billion to traders in as little as 8 hours.
On top of all those numbers, FTMO has also been recognized for three consecutive years with the Deloitte Technology Fast 50 award. Let’s make sure the platform is authentic by following all the laws and standards that apply.
Is FTMO a scam or a real opportunity?
FTMO has been around for over five years as a legitimate prop trading business, which speaks volumes about its reliability. There needed to be more information about its regulation or a copy of its license on the platform’s website. However, it does not make it a fraud.
Let’s put it another way: FTMO is a legitimate prop company in the real world. Furthermore, there has not been a single report of fraud from a user. We may thus infer that it is a reliable trade venue.
An Explanation of the FTMO System in 2023.
It’s important to remember that FTMO is not a brokerage platform, so its features will differ. A prop trading business that permits traders who have passed the FTMO challenge program to have access to a fully funded account.
The system looks at the applicant’s credentials in two steps: the FTMO challenge and the verification. However, this platform still has a complicated learning curve, making it difficult for newcomers.
How Do I Create an FTMO Account?
- The steps for creating an FTMO account are as follows:
- To access the client area, click the FTMO logo on the site.
- Go ahead and hit the “Register” button now. On the screen, a registration form will immediately display.
- Indicate your identifying information, such as name, email, phone number, and country.
- The process of creating your account will begin immediately. A password-generation link has been sent to you.
- Enter your FTMO credentials to have access to the platform’s features.
Review of Tradable Assets at the FTMO in 2023
The platform provides access to 44 traded assets in the Forex, commodities, cryptocurrency, and indices markets.
All these markets are free to trade in, except for foreign exchange, which costs 3%.
Maximum Leverage, According to the FTMO Review of 2023
More than a hundred different trading products are available across four main financial markets, and traders may utilize the leverage of up to 1:100 on the platform.
FTMO has less leverage than many other online brokers, according to our review of the site. Capital and InvestBy are two of the most excellent forex brokers, providing influence of up to 1:500.
Closing Remarks on the FTMO Evaluation for 2023
From what this FTMO Review 2023 shows, the company may be the best forex prop trading service. The features that set this platform apart from others in the prop trading industry are the two-stage assessment procedure, high leverage, fee refunds, and various trading instruments.
The quality of the platform’s services and features is high in general. But the biggest problem with the platform is that the evaluation process takes a long time and may be hard for traders just starting. If you want a trouble-free trading experience, you should choose robust trading platforms like Capitalix, TradeEU, and InvestBy.