Are you passionate about investing and eager to test your trading skills? Look no further than FTMO, a renowned platform that offers aspiring traders the opportunity to showcase their abilities and potentially earn funding for their trading journey. But before you dive in, it’s important to understand the costs involved.
In this article, we’ll explore the FTMO challenge cost, including commissions, account prices, minimum deposits, and more.
So let’s get started and uncover what it takes to embark on this exciting trading adventure!
Table of Contents
Introduction to FTMO
FTMO is a leading prop trading firm that allows traders to trade their own capital without risking personal funds. By successfully completing the FTMO challenge, traders can secure funding and earn a share of the profits they generate.
With comprehensive support and guidance, FTMO offers talented individuals a pathway towards achieving their trading goals while minimizing personal risk.
FTMO Challenge Fee – Commissions and Account Prices for 2023
To participate in the FTMO challenge, there is a fee of $165 for a four-week evaluation period. This fee covers access to real-time market data and analysis tools. The challenge offers different account sizes ranging from $10,000 to $300,000, each with its own rules and profit targets.
Traders should carefully consider their trading strategy and skills when selecting an account size. The focus is on evaluating traders based on their ability to generate profits within the specified timeframe while managing risks effectively.
FTMO Minimum Deposit
To participate in the FTMO challenge and become a funded trader, you need to meet certain requirements, one of which is making a minimum deposit into your trading account. The amount of this deposit varies depending on the size of the account you choose.
For a $10,000 account, the minimum deposit required is $2,000. This ensures that you have sufficient initial trading capital to begin your trading journey with confidence. Similarly, for a $50,000 account, the minimum deposit increases to $5,000.
This higher deposit requirement reflects the larger trading volume and potential profits associated with a bigger account size.
If you opt for a $100,000 account, the minimum deposit rises further to $7,000. This amount is designed to provide you with ample resources to navigate more substantial trades and capitalize on market opportunities effectively. For those aiming for a $300,000 account, the minimum deposit reaches $10,000.
This sizable initial investment demonstrates your commitment and readiness to handle larger trading volumes.
It’s crucial to note that once deposited into your trading account as part of the minimum requirement, this capital remains in your account throughout your participation in the FTMO program. You can utilize it for trading purposes and generate profits based on your skills and strategies.
However, please keep in mind that this initial deposit cannot be withdrawn from your account.
By setting these minimum deposit thresholds based on different account sizes, FTMO ensures that traders have adequate resources at their disposal while maintaining responsible risk management practices. This approach allows participants to maximize their potential returns while preserving capital for sustained trading success.
In summary, meeting the minimum deposit criteria is an essential step towards becoming an FTMO funded trader. It not only provides you with the necessary starting capital but also signifies your commitment and dedication to professional trading endeavors.
FTMO Commissions and Fees
Trading on the FTMO platform involves commissions and fees that ensure program sustainability and cover various expenses. Once traders pass the evaluation phase, they share profits with FTMO, ranging from 70% to 80% based on account size. A monthly subscription fee, ranging from $115 to $375 per month, is required after securing funding.
Traders also pay a performance fee of 5% to 20% on earnings. It’s important to note that traders are responsible for covering any losses incurred during trading activities. These fees and commissions create a fair partnership while incentivizing growth and risk management.
Frequently Asked Questions (FAQs)
Can I withdraw my initial deposit during or after the evaluation phase?
No, the initial deposit serves as your trading capital throughout your journey with FTMO and cannot be withdrawn at any point.
What happens if I fail the evaluation phase?
If you fail to meet the criteria set during the evaluation phase, you can retake the challenge after a waiting period of 30 days.
Are there any restrictions or limitations on trading styles?
FTMO allows traders to use any trading style or strategy they prefer, including scalping, day trading, swing trading, and more.
4.
Can I trade multiple accounts simultaneously?
Yes, FTMO allows traders to trade multiple accounts at the same time, as long as each account meets the profit targets individually.
Is there a maximum drawdown limit?
Yes, there is a maximum drawdown limit for each account size. It’s important to adhere to this limit to maintain your trading privileges and avoid potential penalties.
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