Having a funded account can help you to achieve financial independance. You’re not risking your own capital and you can start with larger account than you could depositing your own money. Imagine having the possibility to trade with 100 000 USD, 200 000 USD or even larger account. So here is a living list of verified companies that offer funding of an account.
FTMO is a company that offers funding up to 200 000 USD to start with and your account can grow further if you’re constantly profitable.
FTMO uses two steps verification to check you’re a profitable trader.
First step is called FTMO challenge. Depends if you choose Normal or Aggressive risk, you need to achieve 10% or 20% profit in 30 days. You also cannot exceed Maximum Daily Loss or Maximum Total Loss. For Normal risk account, maximum daily loss is 5% and maximum total loss is 10%. For aggressive risk account, maximum daily loss is 10% and maximum total loss is 20%. The maximum daily loss is also calculated from open positions so you have to careful and your strategy needs to be aligned. For example, if you’d have an aggressive risk account of 100 000 USD and your first trade would have open P/L of -10010 USD, you’d fail the challenge even if it would turn around and end in profit.
The second step is called Verification phase. You need to achieve half of what you needed to achieve in FTMO challenge phase. Verification phase is 60 days.
FTMO also has a rule that you need to have a minimum of 10 trading days.
You may wonder if you need to wait 90 days to get funded and the answer is no. If you manage to complete both FTMO Challenge and FTMO Verification sooner, you will also receive your funding sooner. But don’t let this influence your trading behaviour. Don’t rush.
You have to pay for entering FTMO Challenge. For example, 100 000 USD aggressive account costs 1080 EUR. However, if you pass both FTMO Challenge and Verification, this will be refunded to you with your first payment.
With FTMO, you can receive up to 90% of the profit split. If you’re new, the profit split is usually 70% for you and 30% for FTMO which is fair.
FTMO offers MetaTrader 4, MetaTrader 5 and cTrader and you can trade Forex, Stocks, Indexes and Crypto.
FTMO is a partner I can recommend. Their support team is very responsive and they’re verified by many traders.