Many traders worldwide make a common mistake of thinking that ftmo is a broker. So they ask is ftmo regulated. But the fact is as ftmo is neither a broker nor a fund management farm. As this is not a brokerage or money management farm, who will control it or give it regulations?
Is FTMO Regulated ?
The answer is No. FTMO is unregulated and unlicensed. First, you need to understand its business model or how it works to understand why ftmo is not regulated?
You need to purchase their membership. When you purchase their membership, FTMO will give you access to their funded accounts. This is an evaluation process of FTMO, what is called the FTMO challenge ! If you pass here, then FTMO will allow you to trade with its capital. The fun fact is that the amount you will pay as a fee of ftmo challenge is refundable.
In the forex prop trading arena, FTMO is the pioneer company. Otakar Suffner founded FTMO in 2017. FTMO offers various instruments like forex, commodities, cryptos, stocks, bonds. It has multiple platforms like mt4, mt5, c trader.
But all the new and experienced traders participated in this challenge, so ftmo conducts an evaluation process. This evaluation consists of two sections. The first one is the FTMO challenge, and the second step is ftmo verification. If you want to participate in this funded trading program, you must need to pass both functions.
You must have to pay a particular amount fee before starting the first step.
Suppose you complete the ftmo challenge and verification both steps; then, you can manage up to $400k with 1:100 leverage.
You will trade on a demo account, but the ftmo account will be connected to the ftmo’s live trading account.
Is FTMO Legit ? Is FTMO Scam ?
FTMO is a legit company. It is not a scam. Within the last 5 years, FTMO gained traders’ trust and love. Many traders worldwide get money from ftmo, completing the full ftmo process and withdrawing the fund. But Still, we didn’t find any single occurrence that FTMo scam with its clients. So we can’t point out FTMo as a scammy company. Rather, it is a valid legit company.
If FTMO refund the fee then how it makes profit?
If any trader fails to achieve the trading adjectives, then that trader will fail and lose his money. A trader will lose money if he violates the rules and regulations of ftmo account. Then the agreement will be terminated.
1. Is FTMO registered?
Yes. FTMO is registered but not regulated. As it is not a broker, so it is not regulated. But it is registered by a municipal court in Prague, Czech Republic, where FTMO’s headquarter is located.
2. Is FTMO trader legit?
Yes. FTMO is legit. Still, we didn’t find any single case against this company that it scams with any clients.
3. Which broker does FTMO use?
You don’t need to open an account with any broker, or you don’t need any broker to use ftmo challenge. Rather you need a platform like mt4, mt5, c trader. You will find these platforms in FTMO. The broker is unnecessary here.
4. Is FTMO allowed in us?
Yes, FTMo allows US clients. Actually, FTMo allows traders all over the world except Iran, Syria, and North Korea