How does ftmo make money reddit. The goal of the project was to find successful traders and provide them with the tools, education and generally the environment to make their dream come true. Periodically, we can allocate more balance into your FTMO Account if you’re consistently profitable. Also, make sure your “why” isn’t money. Their unique evaluation process, thought-out and designed for traders of all levels, has garnered positive FTMO reviews and ratings. on funded $100K account, $5000 a month means 5%, pretty much 1. For 5ers, if you make 10% every 4 months starting with their 80k account (max), you'll need 6 scaling cycles to get to 4M = 24 months = 2 years. If traders could do this regularly, they would trade their own money and be among the richest people to ever live on planet earth. If you only care about money you’ll probably give up too quick. Sep 11, 2023 · Successful candidates gain the opportunity to manage an account balance of up to $400,000 and keep a significant share of the profits they generate. On your personal $500 account, to make $5000 a month you will have to risk a lot and have to trade a lot. I have 2 questions: 1- When have you received your account after passing the challenge? 2- When do I receive the refund for challenge & how do I receive it? Side note: I have tried 7 prop firms since last year. Now that MFF is having some issues due to their business model that involved using money from challenges to pay traders. the rest, is like a dummy who happy , got certificate yay. They will never give you access to their own money. At FTMO, you can do both. 555*0. Take your profits out and fund your next challenge. You’re trading a simulated account, even when you pass and get “funded”. Trust the process and don’t give up. I tell people about Forex and they jump in right away with real money with no training and get mad when they lose money. With FTMO, once you get to the FTMO Trader stage you can receive real rewards for your performance. and that's it. Our FTMO Challenge is the first step of our Evaluation Process. . Prop firms make more money with successful traders, than they do with someone trading an account for 150$ a month. Could you help us with your clone account size? And i really curious if you scale it up to >1-2M$, will FTMO do something with you? Thanks a lot for your answer. But for the challenge, they're faced with the same problem as before. If someone is 30 years old and has 25k, and they make 314% per year, at: Age 40: 2. They'll trade there normal compounded account with 0. So, make sure you don’t set unrealistic expectations with it. Trusted modern prop trading firm. The chances of being a profitable trader are so small that Aug 18, 2023 · FTMO has built a solid reputation in the world of proprietary trading. No stress trading on live account as we don't have time limit. Jul 31, 2024 · FTMO Funding Overview Profit Split 80% to 90% Daily Loss 5% - 10% Max Drawdown - Profit Target 5% - 20% Tradable Products Forex, Indices, Metals, I do think its good for good traders with no capital that can get through the evaluation cheaper than the capital provided and then make that money back plus some without breaking any rules. Third, FTMO allows user to have a maximum of 400k, which is 2 200k accounts (can be scaled up to 2 x 2M). o Reddit. As a beginner expect to take a year learning a strategy and another six months to year mastering that strategy and then you’ll begin to see some consistency. 25% a week. There's no time limit, so you can tweak and adjust along the way to get getting funded. Like, they think that if you have more money, you'll make more money, even if it's fake money. Here's the dark truth about the business model behind prop firms such as FTMO and My Forex Funds. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. 5%) 2 phase: make 5 with 10 drawdown (66. If they have all that money, they aren't renting one of these offices. FTMO is demo account and just a trading tournament with a winning edge for the company. But once passed you can make decent by just properly trading, managing risk. So it all depends, I think getting funded is a good idea if YOUR STYLE suits the rules. Forcing yourself to trade everyday does not work well (for me especially). If you don't have one, you're still in the strategy discovery phase. Now I can make a pretty consistent 50 in about 5 minutes if the trend is set up right. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. Over 90% of people who apply for ftmo fail their challenge, which of course is expected due to the high failure rate of retail traders in general. The refund given is only on that attempt. ) Reply reply A lot of people think that if you have a $10,000 FTMO account vs. No what I meant, is for example when you first start trading they'll pay you from the money they make from evaluation fees and if you are a profitable trader then they'll start copying your trades so my question was how much* money realistically before FTMO starts copying the trades and giving you money from the profits of the trades they made Good afternoon Traders! I have successfully passed my $100K FTMO challenge. I mean yeah, that's how they make money. 5% average monthly return, which is very doable with a working strategy and good risk management and trading psychology). It took well over a year before I was comfortable trading real money. Lots of learning and lots of YouTube videos. I myself have made quite a decent amount of profits in my journey of forex trading. When you make profits on funded platforms like FTMO, besides joining fees, you will be paying fees from the profits as well. As long as you keep the challenge fee money aside, you can retake it again if you happen to lose it. I went onto FTMO, as from what ive read and heard, they are ok, and i have signed up to their free trial to try their 70,000 account. Those who are really skilled and experienced can make very good money through FTMO without risking their own capital. You can withdraw your reward anytime between 14 to 60 days from your first trade on your FTMO Account (Profit Split). But here is the problem: is FTMO using the same business model ? Especially because they claim they use their risk management for demo accounts connected to live markets. For stage 1 and 2, i do 1% per trade. 25% of $500? $6. You’re not trading with real money. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. I'm currently recycling my profits for more challenges. I wish I knew this when I first started. I quit my job a year ago and make more money then i ever could have dreamed off. The 10% profits a month is actually a trap set by prop firms like FTMO to make most of the challenge takers lose and for them to make easy money. Traditional prop firms who have physical trading desks make their money by selling order flow. If you are consistent and profitable with futures or forex, using a prop firm may be better than a personal account. Good luck Getting a job or two can teach you a lot especially if you try to learn from every experience. Currently trading 200k and once I max out ftmo I'll look for others prop firms to get more AUM but until then ftmo is the way to go for me. What is karma on Reddit? Karma on Reddit is equivalent to a user’s score on the platform. Also, their office - like the others out there - is a "Wework" type of building. Trading is very hard but super rewarding. I had a friend that did this. We prepared a quick article to reveal some well-known as well as lesser-known statistics and figures that you might find interesting. They are 100% legitimate, if you can trade profitably and manage risk then you can make a lot of money with MFF. 6%) So the probability to pass a challenge is 0. They will take signals from everyone, rate them by how good the people are and synthesize much better signals based on the collective. Looking for serious traders. 5ers claim that their risk management desk hedges exposure with liquidity providers, if they do then commissions can be real and they can make money without relying on failed challenges. I lost a good amount of money selling too This is essentially free money for them to offset losses. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. You’re basically selling them signals for the price of the profit you would have made. ( I stay off on mondays because my backtests shows me to stay away on mondays) Yes, people do actually make money from forex. Bad months happen. Step 1 – FTMO Challenge. It's a huge improvement for day traders at least. Pay yourself first as it's not your money. So OCCASIONALLY they'll make 20-50% gain on a dispensable account and 2-5% on their compounded. Was surprised when the transfer hit my account wasn’t expecting it, but it’s legit. You shouldn't care if you lose a challenge or blow an account. The more knowledge to have the more money you can make. They’ll still give you payouts in the case you are successful but they will never give you an account with real money. I guess the main questions are- is that the best way to do this, should I just hire a CPA (suggestions?), and are any of you trading for FTMO/how are you paying your taxes (if you are US based)? Then you should consistently aim for something like 2. All of them have 20-30% WR with very high RR. My view on copy trade is different, especially because we work with it. I chose MFF because they were cheaper and had an easier to pass evaluation model. Im funded with FTMO, TFT and TopStep aswell as having my own account. That’s gonna become more money than most people’s salary. For swing traders, it's a great improvement too once they actually get the funded account. Unfortunately, a lot of people will pass the challenge & verification and fumble the actual account, meaning they’ll never get the refund The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. In the other note I believe in every single one y’all who are trying to make a change. It’s in their terms and conditions. You can learn what to do and what not to do so you're better prepared when the time comes for your own business. You'll learn so much more about yourself and your trading style and gain real time experience. They could make 5x as much from their 90/10 split for a successful trader. com, a trading forum run by professional traders. Swing traders can go through a multi-month drawdown even with a profitable strategy, b All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. It’s all simulated. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. 5-1. Start trading with up to $200,000 on a demo FTMO Account. Can you make money on Reddit? Yes, you can earn real money from Reddit. The prop firms make A LOT of money from people blowing account after account to cover the payouts of the really good traders who get payouts after payouts on a bimonthly level. what will be 1. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. 5ers allows 3 instant funding accounts (can be scaled up to 3 x 4M). I'm debating if I'm good enough to give ftmo(10k account $150) a try or maybe do a 1-2 k live money account. Just think about it, any experienced traders know for sure that it is extremely hard and even irrelevant to make 10% returns a month. Hello, good day everyone. FTMO or any Forex funded account for that matter, is not worth your time and doesn't make you any money in long-term. During demo account I didn't consider how much money I had to invest and how much I could make off of it easier because of how much less I need it to move to make money. 666 = 37% natural probability if you are a monkey. From the beginning, FTMO's goal has been to help skilful traders solve the problem of undercapitalization. Then obviously cut the methods that don't work and add to ones that do. All you need to do is Google the address of any of these firms - they are all in publicly available rental offices. I was looking at getting a funded account, to use alongside my live account that i use with my own money. It makes me so mad. You never know when you will breach any of the rules or when they changed any of their rules. The beginning of a new year marks a perfect time to look back and evaluate what has been done in the past year and what can be improved in the upcoming one. Well, we’re about to find out who the liars are I think. and the institution behind copy the ftmo profit trader is 3-5/10 of 1%. It's a neat thing to do if you're going to waste that money anyway. Welcome to FXGears. However, I won $400 in profits for the same month. This isn’t a problem in higher time frames, however the way I make money is scalping a few minutes. Btw if you want to practice before starting the challenge you can just keep working on a demo account using oprey server, and treat it like a real challenge With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). Be sure to be a profitable trader though before taking these challenges or you will just waste a lot of money! Does it matter how they are making money? you get paid for the profit you make and that's all matter. It is […] Seeing a lot of videos lately of people passing FTMO challenges on Youtube. If it takes you 3 times you still lost $1200. you can't overtrade ir take high risk like you trade your own money. So you are failing to see, that prop firms are the brokerage that you are talking about, they just have opened up there doors with trading evals. FTMO or any Forex funded account for that matter, is not worth your time and doesn’t make you any money in long-term. a $1,000 regular account, that the position sizes on the $1,000 account wouldn't be anywhere close to the amount of potential risk you could have. All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. 3 Billion dollars Age 50: 200 Trillion dollars, like the entire world economy So this how the first FTMO payout went. This way you can determine whether you actually have expectancy in the market and whether if you actually can make money with the strategy you are tracking. Now we can trade through high impact news and hold runners over the weekend if we want. 8 - Win rate of 55-60%. My opinion would be go for it, but be disciplined and use it to fund your personal account to a good size account (10k, 25k, 100k, whatever you're comfortable with). I did not contact support. I went onto the Metrix section after the first day, and I am not sure how they calculate what they calculate. Thus, during our time on the market we have been able to create more than 138,000 FTMO Accounts for our FTMO Traders. It is nothing. But they do not provide any more details. If you prefer to keep your Profit Split on account to grow and accordingly build up your balance and drawdown buffer, you can do so. or some that profit a little , they don't send info to prop firm cuz not make them good money. edit 10 months after the post: After failing 7 different My Forex Funds 5k accounts I finally passed my 8th try with a 10k. They keep the difference. I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. 25? Apr 19, 2024 · However, you can use Reddit to find ways to make money. He got so excited when he made like 2$. FTMO started in 2015 as a university project by a few students who wanted to make a living by trading. I just waited until it came. Learn, network, and use leverage to discover opportunities. That’s how these platforms earn money. What they do with them to make money should be none of your concern so long as they pay you as agreed. That being said, ftmo recently made available extensions if you are close to the target and from day one even if you don't hit the target within 20 trading days you will get a retry anyway. We deliver a Trade on the platform and you pay only if there is a profit. When other users upvote your comments or posts, your karma goes up. After your first payout with FTMO you basically are playing with house money. And they are doing it all with millions more than the traders account balances suggest. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. Another point to note is that trading with own money is always better and profitable in long term. Do my statements make sense? If yes, why would anyone not go for a swing account? Do you know how i can see the amount of money i can lose with my stop loss on mt5? On tradingview when you move your stop you can see how much money it is (200$, 300$,etc. An interesting strategy you can do is place buy stop above resistance levels, sell stops below support levels on the 15-minute time frame, and make sure you have the proper stop loss set. It is definitely not that easy to make money as many social media influencers will try to show you. On FTMO's YouTube channel, I was watching one of the videos about the process and they said in the video that you don't need to contact them because they already know your account is ready for the next step. The best thing I found to do is just to sit out of the market and take a step back if I'm really not feeling the price action. The reality is that prop firms like ftmo make ALOT of their money on people failing the challenge. Trading is not easy. A trader can make $10K on a trade but FTMO might make $50k-$100k on that same trade and that’s just in respect to that one trader. Edit: I also only stay on the charts 2 hrs a day 4 days a week. Got to give it to FTMO. How do their clients make money though? Assuming there is people who can make 10% a month without drawdown consistently, why would they need such restrictions? This screams shady business. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. I know I can make money with normal brokers with my style so I will stick to this. 1% risk and trade-copy to there "dispensable accounts" with 10x multiplier. If you succeed you are working on 10k account even if it’s says it’s a 100k one, so if you want to make 1k per day you have to make 10% per month, fir that better do it with your own money and you can make way more if you are able to make 10% per day You have to make a withdrawal before you can get the refund, if you account is negative you can’t take money out and can therefore not get a refund. And even challenge is not so gambling because 1 phase: make 8 with 10 drawdown (55. The firm also offers tools for coaching, account analysis, and performance tracking to help traders on their journey toward financial independence. This is my 3rd time with FTMO. The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. This is basically impossible in ftmo due to their spread. If you meet the conditions of our Scaling Plan, not only do we increase the balance of your FTMO Account by 25%, but you will be entitled to a 90% payout. When you make profits on FTMO, you will be charged 30%, and you can keep the rest 70%. Similarly, if users downvote you, your karma score will drop. It is a big NO. huwop umhnsk dwlimis okofchs bcfod xwfn weoia mqq yuq gdtsmnz