Forex trading is a popular way of investing in the financial markets, where traders buy and sell currencies with the aim of making profits. However, it is not an easy task, and many traders fail due to lack of proper skills and knowledge. This is where ftmo comes in. In this article, we will discuss what ftmo is in forex trading.
What is ftmo?
FTMO is an abbreviation of Forex Trading Money Online. It is a proprietary trading firm that provides funding to successful traders who pass their evaluation process. FTMO was founded in 2015, and since then, it has grown to be one of the leading forex funding firms globally. FTMO’s mission is to help traders become consistently profitable and provide them with the resources and tools to achieve their goals.
How does ftmo work?
FTMO works by providing traders with a platform to showcase their trading skills and earn funding. To become a funded trader, one has to go through an evaluation process that involves passing specific criteria set by FTMO. The evaluation process consists of two stages, the challenge, and the verification stage.
The challenge stage
In this stage, traders are required to trade a demo account with a specified capital and a set of rules for a specific period. The challenge period ranges from 30 to 60 days, depending on the account size. Traders are required to trade profitably, using the rules provided, and not exceed the maximum drawdown set by FTMO.
The verification stage
If a trader passes the challenge stage, they move to the verification stage. In this stage, traders are provided with a funded account with a specified capital, and they are required to trade profitably using the same rules as in the challenge stage. The maximum drawdown and profit targets are higher in the verification stage than in the challenge stage.
If a trader passes both stages, they become a funded trader, and they can access FTMO’s resources and tools to help them grow their trading career. FTMO provides funded traders with a 70% profit share and covers all losses up to the maximum drawdown limit.
Advantages of using ftmo in forex trading
FTMO provides traders with funding, which can help them grow their trading account and take advantage of more significant trading opportunities. This can help traders to become more profitable and achieve their financial goals.
2. Risk management
FTMO’s evaluation process involves setting specific risk management rules, such as maximum drawdowns, which can help traders to manage their risk effectively. This can help traders to avoid significant losses and protect their trading capital.
3. Resources and tools
FTMO provides funded traders with resources and tools such as trading psychology courses, risk management courses, and mentorship programs. These resources can help traders to improve their trading skills and become more profitable.
4. Profit share
FTMO provides funded traders with a 70% profit share, which can be a significant source of income for traders. This can help traders to achieve their financial goals and improve their lifestyle.
FTMO is a forex funding firm that provides traders with funding, risk management, resources, and tools to help them become consistently profitable. FTMO’s evaluation process is rigorous and helps traders to develop the necessary skills and knowledge to succeed in forex trading. Therefore, if you are looking to become a funded trader, FTMO can be an excellent platform to showcase your trading skills and earn funding.