FTMO Review

Overview

FTMO is one of the longest-running names in retail proprietary trading. The company was set up in Prague in 2015 by Otakar Suffner and Marek Vasicek and popularised the two-phase evaluation model that most of the industry later copied. Traders pay a fee to attempt a simulated challenge; those who pass receive an "FTMO Account" in which they keep a share of simulated profits. In December 2025 FTMO's parent group completed its purchase of the US broker OANDA from CVC, a deal reported at roughly $422 million, which makes FTMO unusual among prop firms in owning a regulated brokerage group.

It is worth stating plainly: FTMO itself is not a regulated broker, and challenge accounts trade in a simulated environment. You are buying an evaluation service, not opening an investment account. Prices quoted below were checked on 5 November 2026 and change regularly.

Challenge types and rules

FTMO currently runs three main routes. The classic 2-Step Challenge asks for a 10% profit target in Phase 1 and 5% in the Verification phase, with a 5% maximum daily loss and a 10% static maximum loss, at least four trading days per phase and no time limit. The newer 1-Step Challenge has a single 10% target, a tighter 3% daily loss and a 10% maximum loss that trails on an end-of-day basis. It also carries a "Best Day" consistency rule: under rules for orders placed from 12 October 2026, your best day may not exceed 50% of total profit. An Instant account skipping the evaluation has also been listed during 2026, with a 30% best-day rule and an intraday trailing loss limit.

The 2-Step is also offered as a Swing variant with lower leverage but without the news and weekend restrictions that apply to funded Standard accounts.

Fees and value

Challenge prices are set in euros. Checked in November 2026, the 1-Step started at €79 for a $10K account and the 2-Step at €89, rising to around €999 and €1,080 respectively for $200K. FTMO has also run temporary price cuts on individual sizes, for example on the $100K 1-Step. Those fees are above many newer competitors, which is the most common criticism of the firm. On the other hand, the 2-Step fee is returned with the first reward once you are funded, so a successful trader effectively recovers the cost. The 1-Step fee is not refunded.

Profit split, payouts and scaling

The 2-Step pays an 80% reward split by default, while the 1-Step and Instant accounts start at 90%. Rewards can be requested on a 14-day cycle, and reviews report processing typically within one to two business days, with bank transfer, Skrill, card push and crypto among the options. The Scaling Plan raises the account balance by 25% after a four-month cycle with at least 10% net profit and two processed rewards, up to $2 million, and lifts the split to 90%. Total allocation across accounts is capped (reported as $400K for standard traders), with higher limits for FTMO's premium status tiers.

Platforms and instruments

FTMO supports MetaTrader 4, MetaTrader 5, cTrader and DXtrade, and some comparison sites now also list TradingView connectivity. The product list covers roughly 130+ CFDs across forex, metals, energies, indices, single stocks and cryptocurrencies. Leverage on Standard accounts reaches 1:100 on FX, with lower caps on other assets and 1:30 on the Swing variant. Expert advisors you write yourself are generally permitted, but third-party EAs, copy trading of other people's signals and strategies that exploit the simulated environment are prohibited, so read the forbidden practices page before automating anything.

Reputation and notable events

FTMO has a very large Trustpilot footprint, with comparison sites citing a rating around 4.8 from tens of thousands of reviews. Negative reviews mostly concern accounts breached or rewards denied for rule violations rather than missed payments; independent reviewers have not reported systemic non-payment.

The firm was hit by the 2024 MetaQuotes licensing crackdown on prop firms. In February 2024 Finance Magnates reported that FTMO stopped onboarding new US clients and moved existing US traders from MetaTrader to DXtrade. Its acquisition of OANDA later gave it a route back into the US market during 2025. The episode is a reminder that platform access can change at short notice in this industry.

Who it suits

FTMO suits traders who value a long track record and predictable rules more than the lowest possible entry price. The static 10% drawdown on the 2-Step is friendlier for swing and longer-horizon trading, while the 1-Step's 3% daily limit and trailing maximum loss reward disciplined, consistent day traders. Traders who rely on news spikes or holding over weekends should look at the Swing account, since funded Standard accounts restrict trading around high-impact releases and require weekend closure.

Beginners should note that the challenge fee is a real cost even though the trading is simulated. A sensible approach is to practise the exact rules on a free trial or demo first, size positions so that a single bad day cannot breach the daily loss, and treat the fee as money you can afford to lose.

Verdict

FTMO remains a benchmark firm: transparent rules, a decade of operation, multiple platforms and a fee refund on the 2-Step. The trade-offs are higher prices than many rivals, an evolving set of consistency rules on the 1-Step and the general caveat that prop challenges are simulated products and most participants do not pass. Check the current rules and prices on the official FTMO website before buying.