FTMO review
FTMO runs paid trading evaluations, known as Challenges, on demo accounts backed by FTMO's own risk capital rather than client deposits. Traders who meet the profit target and stay within the risk rules move to a funded account and keep a share of the profits they generate. It is not a bank or a regulated broker: FTMO does not hold client funds or place trades in live markets on a customer's behalf, so the protections that apply to a regulated broker do not apply here. In December 2025, FTMO completed the acquisition of OANDA, a separately regulated broker, and is folding prop trading under its own brand while OANDA continues to operate on its own regulatory footing.
FTMO key facts
- Website: ftmo.com
- Category: Proprietary trading firm (not a regulated broker)
- Founded: 2015
- Headquarters: Prague, Czech Republic
- Evaluation types: Two-step Challenge and Verification, or a one-step Challenge
- Account sizes:
- Through Challenges: $10,000 – $200,000
- Through Scaling Plan: Up to $2,000,000
- Profit split: Starts between 80% and 90% depending on the challenge type, rising with the Scaling Plan
- Platforms: MetaTrader 4, MetaTrader 5, cTrader, DXtrade
- Assets: Forex, indices, commodities, and a growing list of crypto CFDs
- FYI Score: 98.4/100 (ranked #1 of the 63 prop trading firms we track)
Evaluation process
- Two-step Challenge: pass a Phase 1 and Phase 2 profit target while staying within the daily and overall loss limits, with no time limit to finish.
- One-step Challenge: a single evaluation phase with a lower daily loss limit and its own profit-split terms.
- A free trial option lets traders test the rule set before paying for a real attempt.
Trading conditions
- Leverage up to 1:100 on forex under the standard account setting, lower under the Swing setting that allows weekend and rollover holding.
- News trading is unrestricted during evaluations. Funded Standard accounts apply a short no-trade window around major releases.
- Around 130 tradable instruments across forex, indices, commodities and crypto CFDs.
Payouts and scaling
- First payout can be requested once a funded account meets the qualifying period. FTMO states it reviews and pays out within a few business days.
- The challenge fee is credited back to the trader with their first profit withdrawal.
- The Scaling Plan increases a funded account's size over time for traders who meet its profit and withdrawal conditions.
Platform and support
- Choice of four trading platforms depending on the challenge product.
- FTMO Academy provides free trading education alongside the evaluations.
Markets
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Who FTMO is for
A way to trade a larger account than personal capital allows, for an upfront fee and fixed risk rules. Best for traders comfortable inside a daily and overall loss limit.
Pros
- Long track record (since 2015) with a large, visible history of payouts.
- Strong Trustpilot rating across a high volume of reviews.
- Documented, generally fast payouts, plus a free trial and a Scaling Plan for funded accounts.
Cons
- Not a regulated broker — disputes fall under FTMO's own terms, not financial regulation.
- Traders report breaches from rule interpretation, including slippage disputes.
- Pricier than newer rivals, and the challenge-fee model earns from failed attempts.
FTMO FAQ
Is FTMO legit?
FTMO has run trading evaluations since 2015 and reports a large cumulative total in trader payouts, backed by a high volume of Trustpilot reviews at a strong average rating. It is a real, long-operating business, but it is not a regulated broker, so a trader's relationship with FTMO is a commercial contract rather than a regulated investment account.
Is FTMO a regulated broker?
No. FTMO does not hold client funds or place trades in live markets on a customer's behalf. It runs evaluations on demo accounts using real market data, and funded accounts pay traders a share of simulated profits from FTMO's own capital. This means the investor protections that apply to a regulated broker do not apply to an FTMO account.
How does the FTMO challenge fee work?
Traders pay an upfront fee to attempt a Challenge. If they pass, get funded, and later request their first profit payout, that fee is credited back to them. It functions as a refundable deposit tied to eventually passing and getting paid, not a fee that is refunded simply for passing.
How fast does FTMO pay out?
FTMO states that it reviews payout requests within a couple of business days and completes the transfer shortly after, once a funded trader is eligible for their first payout. Profit splits start between 80 and 90 percent depending on the challenge type, rising further under the Scaling Plan.
Compare FTMO with other prop trading firms
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