FTMO Conspiracy Theory

[trendie]

There is this "FTMO 1 Minute Master" YT channel.

Now, given what experienced traders know about markets, and mindset etc, am I being cynical that the YT channel was created to draw people in to blow their money on essentially gambling, and lose their fees multiple times over through over trading, and through using excessive leverage? This guy must be using 5-10 lots per trade.
I think this guy is on his 15th account.
Whether its a free one or not, thats a lot of resources invested into this channel.
If people are drawn in, and pony up the fees, thats a lot of money.
I probably have too much time on my hands....
(This is not a slight at FTMO, I think they are a solid set-up.)

 

[ridgeback]

I don't think it's a conspiracy. The only way to cover costs is to take money from greedy suckers and find the rare few traders that you can back along the way... completely legitimate and morally responsible if the rules of play are clear from the outset.

I didn't watch much of the video, I don't rate anyone on youtube, especially FTMO demo warriors!

 

[IceThor]

Not a conspiracy, just marketing.

 

[trendie]

Yes, I think you're right.
Maybe they were always there, but didn't notice until I started checking out FTMO on YT, and then these channels started popping up in my options.

Algorithms, hey! Don't you just love 'em.

Have a great week!

 

[IceThor]

Yes, I think you're right.
Maybe they were always there, but didn't notice until I started checking out FTMO on YT, and then these channels started popping up in my options.

Algorithms, hey! Don't you just love 'em.

Have a great week!

Have a great week yourself!

 

[ffsear]

There is this "FTMO 1 Minute Master" YT channel.

Now, given what experienced traders know about markets, and mindset etc, am I being cynical that the YT channel was created to draw people in to blow their money on essentially gambling, and lose their fees multiple times over through over trading, and through using excessive leverage? This guy must be using 5-10 lots per trade.
I think this guy is on his 15th account.
Whether its a free one or not, thats a lot of resources invested into this channel.
If people are drawn in, and pony up the fees, thats a lot of money.
I probably have too much time on my hands....
(This is not a slight at FTMO, I think they are a solid set-up.)

who ever he is, he's clueless. He's got a 200 period MA on his m1 chart and keeps referring it as a 200 day MA. Doesn't seem to realise its a 200 min MA

 

[IlIlIlIlI]

That's like most of the useless YT channels:
they don't show and explain why they enter just the presented trade, they show only recording of the trade.
Waiting him switching from selling insurance to selling courses.

 

[IceThor]

That's like most of the useless YT channels:
they don't show and explain why they enter just the presented trade, they show only recording of the trade.
Waiting him switching from selling insurance to selling courses.

You know it's coming

 

[trendie]

trendie, you seem very pleasant.... I have a question... approximately how much money have you lost combined with your failed challenges with ftmo?

have you had the similar losses with other similar companies?

break it down for us.

Thank you for illuminating my polite demeanour.

I have done 6 FTMOs. (I failed due to exuberance and lack of patience)
I think the first 2 were 100K (70K£), and others 35K£.
Thats about 2K in total.

I have not traded other props.

 

[trendie]

absolutely not.

you failed because ftmo is a criminal scam, they only intend to take your money and to give you NOTHING in return.

you got ripped off sir.

cut and dried.

there is not one shred of real evidence that ftmo has any live traders.

they collect your fee and then they kick you to the curb.

for real real, you are an amateur that is getting punked out by ftmo.

Truly, I am a real, real amateur, sir.
Speaking of fees, are you still on with the 5billion account?

I am being stalked!

 

[Farm Yard Forex]

Typical marketer who doesn't actually trade. FTMO are solid I think but it's not their fault if greedy people see the $ signs in their eyes and take the challenge before they have any evidence of a profitable trading strategy.

 

[Rufus_Leakey]

they dont have not one single piece of paperwork that shows any money transferring to one single live trader.

isnt that pathetic?

While I think these "prop" firms are a poor value for the consumer, there appear to be some customers that successfully withdraw money.

 

[Farm Yard Forex]

isnt it amazing that these sparkly ftmo testimonial videos show traders that are banging down $20k and $50k and $100k, but us ordinary people arent doing that?

ftmo is a scam.

those sprarkling unrealistic testimonial videos are nonsense.

when i am conducting due diligence, i want to see the numbers on paper... i dont wanna hear a bunch of nonsense lies in some sparkly video.

the new scams of the century are ftmo scam and the offshore bucket shop brokers, for which the victims have absolutely no recourse.

Then don't use them. Nobody is forcing you to. Screaming scam at everything doesn't make it so.

I have no evidence to suggest they don't pay people. How they come by that money perhaps isn't clear but they continue to pay it out and if you pass the challenge you get refunded your challenge fee. In terms of risk to reward I think it is worth a go if you can pass the challenge.

 

[CavaliereVerde]

They are lotteries running on demo money but winners are paid by FTMO and MFF.
Paying winners is their best marketing tool.
If a lottery doesn't pay winners nobody would buy tickets anymore.

 

[IceThor]

They are lotteries running on demo money but winners are paid by FTMO and MFF.
Paying winners is their best marketing tool.
If a lottery doesn't pay winners nobody would buy tickets anymore.

interested in some details

 

[KlondikeFX]

interested in some details

The number of clients that actually make it into the payout zone is super small like below 1‰
However every client is paying the fees. This makes for a very healthy income for the "prop shop".
While the marketing gives the impression that the company is earning money from their "top traders", in reality their only income is from the fees.
Even if you pass every qualification stage you won't really trade the company's money. If you manage to make a profit during this final stage they will pay you from the collected fees not from "trading profits".

 

[BigDeal]

The immediate give away with FTMO is that they set a challenge which encourages significant risk taking to pass. They then claim to offer the 'winners' of said challenges significant amounts of money to trade with, but a true prop firm would be horrified if a trader executed his business in the same way as the challenge, so why test traders in a completely different way to the style you want when working for you?

 

[xmaslad]

There is this "FTMO 1 Minute Master" YT channel.

Now, given what experienced traders know about markets, and mindset etc, am I being cynical that the YT channel was created to draw people in to blow their money on essentially gambling, and lose their fees multiple times over through over trading, and through using excessive leverage? This guy must be using 5-10 lots per trade.
I think this guy is on his 15th account.
Whether its a free one or not, thats a lot of resources invested into this channel.
If people are drawn in, and pony up the fees, thats a lot of money.
I probably have too much time on my hands....
(This is not a slight at FTMO, I think they are a solid set-up.)

This lad is full of BS, total demo warrior and now he has the cheek to sell courses. He has only passed 1 FTMO trial after about 16 attempts. I Cant understand why anyone would sign up to his nonsense. Another scammer.

 

[IceThor]

This lad is full of BS, total demo warrior and now he has the cheek to sell courses. He has only passed 1 FTMO trial after about 16 attempts. I Cant understand why anyone would sign up to his nonsense. Another scammer.

well put

 

[AC007]

They are lotteries running on demo money but winners are paid by FTMO and MFF.
Paying winners is their best marketing tool.
If a lottery doesn't pay winners nobody would buy tickets anymore.

now I know what this game is all about. 90% lose so free money.