Funded Accounts trading. Things to consider.

trendie

Legendary member
6,840 1,398
re: the FTMO from another thread, whats the overall state of this sector?

Is this regulated?
Where do you get info on best providers?
Any experience of them?
Any recommendations?
What to check and due diligence before signing up!
 

counter_violent

Legendary member
11,267 3,005
re: the FTMO from another thread, whats the overall state of this sector?

Is this regulated?
Where do you get info on best providers?
Any experience of them?
Any recommendations?
What to check and due diligence before signing up!

This is weird. Must be a sign ! I've just spent that last 24 hrs looking into FTMO.

What other thread ?

Edit......................Oh ok...found it.
 

trendie

Legendary member
6,840 1,398
This is weird. Must be a sign ! I've just spent that last 24 hrs looking into FTMO.

What other thread ?
Last few posts on "How I turned £3000 into £20,000 in 6 Weeks", which I posted on earlier today, (Aston1st)
and "FTMO and Legalities".

I have been getting some targeted ads on YT as well, over past few weeks,
 

CavaliereVerde

Experienced member
1,548 1,992
Another clone of Topstep trader ...
one word definition : hamster

Business model:
you pay to partecipate a contest, the organizer make a lot of money, few win and make few money.
 
Last edited:

trendie

Legendary member
6,840 1,398
Broadly, FTMO allow you to buy a chance to trade investor money.
As does The 5%ers (5ers.com)

But,.....
FTMO, you buy a $10K account for EUR155.
You are expected to make $1K, but not lose $1K.

5ers, for example, you can buy a $10K account, for $400).
You are expected to make 600 to get to next phase, but not lose more than 400, 4%.
However, on target, the fund is doubled, and you have more money.

**Its a bit more involved, so you need to google these people yourselves, for more info **
** There are other plans, etc **
** I will put links here, but the mods may decide to delete them! (I wouldnt fuss over it) **

But, if you're only allowed to lose 4%, isnt that the same as a $400 account?
If you cant lose more than 10% on a 10K account, you effectively have only $1K to trade with?
I get it, you need to show constraint, and good money management.
I suppose, if you can modify your trading risk to fall within 4% or 10%, the reward is available once you've proved yourself.
I think the 5ers might be a better bet, since the investment increases on each milestone, whereas FTMO stays the same.

I am toying with taking the 5ers option with a $10K challenge.
Am I missing something about FTMO?

Any other funded trader options?
 

CavaliereVerde

Experienced member
1,548 1,992
But, if you're only allowed to lose 4%, isnt that the same as a $400 account?
This is precisely the point.
I think this comment by @itstradingtime explains perfectly the math.

They sell you the dream that you are managing a serious amount of money, the size of the account is the bait.
 

trendie

Legendary member
6,840 1,398
hey guys

New to the forum

What's good about The5ers is that the evaluation is on a real account and not a demo, once you pass it (only 6%) you already get paid, in fact, it's instant funding
True.

But, you're still only allowed a drawdown of 4%.
I know its a way of exhibiting good risk control.
Good thing about 5%ers is that on successful increase of account to the milestone, 10%, your account amount is doubled.
So, from a 40K account, you go to a 80K account, etc, upto some max.
However, dont forget, you have to complete 40 trades as well.
I think at each level.

Downside, they dont allow trading indices, and DAX is my core instrument.
 

trendie

Legendary member
6,840 1,398
Really interesting insights from FTMO by analysing traders that fail the challenges.
Note how some ramp up the lots when they are close to completing the challenge, then get impatient, or through revenge-trading.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock