FTMO Review

Overview

Updated: 10 September 2026

FTMO is one of the strongest choices for disciplined traders who want an established prop trading company with clearly documented rules, multiple trading platforms and a long operating history. It is not the cheapest or easiest prop firm, and for most traders I would choose the FTMO 2-Step Challenge rather than the 1-Step Challenge.

The reason is simple. FTMO's 2-Step route gives you a 5% Maximum Daily Loss, a static 10% Maximum Loss, access to the Swing account and a refundable entry fee once you receive your first Reward. The 1-Step route gets you to an FTMO Account faster and starts with a 90% Reward Ratio, but it combines a tighter 3% daily loss limit with an end-of-day trailing Maximum Loss and a 50% Best Day Rule.

There is another point that many FTMO reviews get wrong: an FTMO Account is a simulated trading account, not a live brokerage account containing $100,000 or $200,000 of capital allocated to you. FTMO pays real monetary Rewards based on profits generated in its simulated environment. FTMO also states that it may use data from FTMO Accounts when trading separately on its own live accounts.

FTMO rules at a glance

FTMO verdict at a glance

Overall: Recommended for disciplined traders

Best FTMO product for most traders: 2-Step Challenge

Best feature: Established operation and clearly documented risk rules

Biggest drawback: Strict rules and relatively expensive evaluations

1-Step Reward Ratio: 90%

2-Step Reward Ratio: 80%, increasing to 90% when qualifying conditions are met

Maximum Challenge size: $200,000 simulated capital

Maximum normal allocation before scaling: $400,000 across accounts

Scaling potential

Up to $2,000,000

Platforms

MetaTrader 4, MetaTrader 5, cTrader and TradingView

Free Trial

Yes

FTMO a broker?

No

FTMO trading capital

Simulated

Trustpilot

4.8/5 from more than 51,000 reviews at the time of this update

FTMO states that it has served more than 4.5 million customers, paid more than $650 million in Rewards and operates across more than 140 countries. These are company-reported figures rather than independently audited figures used for this review. Trustpilot independently showed a 4.8/5 rating from 51,642 reviews when checked on 10 September 2026.

Is FTMO legit?

Yes. FTMO is a legitimate and established simulated prop trading business, but it should not be confused with a regulated retail broker.

FTMO was founded in Prague in 2015 by Otakar Šuffner and Marek Vašíček. Its Czech entities are listed in the Czech Commercial Register, and the company operates from offices in Prague.

FTMO Group also completed its acquisition of OANDA Global Corporation on 1 December 2025. OANDA operates regulated brokerage businesses in multiple jurisdictions. That acquisition is a significant corporate credibility signal for FTMO Group, but it does not mean an ordinary FTMO Challenge or FTMO Account becomes a regulated OANDA brokerage account. FTMO explicitly says its companies do not act as brokers, do not accept trading deposits and provide simulated trading services.

That distinction matters.

When you purchase a $100,000 FTMO Challenge, you are not depositing $100,000 and FTMO is not handing you $100,000 of client money. You are paying an evaluation fee for access to a simulated account with $100,000 of fictitious capital.

If you satisfy FTMO's evaluation requirements and subsequently generate simulated profits on an FTMO Account, you can receive a real cash Reward calculated from those profits.

So the useful question is not simply "Is FTMO regulated?"

The better question is:

Does FTMO appear to operate the service it claims to operate and does it have a credible record of paying qualifying traders?

On that test, FTMO has substantially more operating history and public evidence than a newly launched prop firm. That does not remove counterparty or contractual risk, but I would put FTMO towards the lower-risk end of the modern prop firm market.

How does FTMO work?

FTMO evaluates traders before giving them access to an FTMO Account. In 2026, traders can choose between the FTMO Challenge: 1-Step and the FTMO Challenge: 2-Step.

Both products use simulated capital and both have an unlimited evaluation period. Their risk rules are different.

FTMO 1-Step vs 2-Step

Rule

Evaluation phases. FTMO 1-Step: 1. FTMO 2-Step: 2

Rule

Phase 1 Profit Target. FTMO 1-Step: 10%. FTMO 2-Step: 10%

Rule

Phase 2 Profit Target. FTMO 1-Step: None. FTMO 2-Step: 5%

Rule

Maximum Daily Loss. FTMO 1-Step: 3%. FTMO 2-Step: 5%

Rule

Maximum Loss. FTMO 1-Step: 10%, end-of-day trailing. FTMO 2-Step: 10%, static

Rule

Best Day Rule. FTMO 1-Step: 50%. FTMO 2-Step: No separate Best Day Rule

Rule

Minimum Trading Days. FTMO 1-Step: None. FTMO 2-Step: 4 per evaluation phase

Rule

Trading period. FTMO 1-Step: Unlimited. FTMO 2-Step: Unlimited

Rule

Starting Reward Ratio. FTMO 1-Step: 90%. FTMO 2-Step: 80%

Rule

Entry fee refunded. FTMO 1-Step: No. FTMO 2-Step: Yes, with first qualifying Reward

Rule

Swing account available. FTMO 1-Step: No. FTMO 2-Step: Yes

Rule: Best suited to. FTMO 1-Step: Consistent traders wanting one evaluation. FTMO 2-Step: Most traders prioritising risk flexibility

FTMO says there are no additional consistency requirements beyond its published Trading Objectives and sustainable risk-management requirements.

Is FTMO 1-Step or 2-Step better?

FTMO 2-Step is the better choice for most traders.

The word "1-Step" sounds easier because there is only one evaluation stage. The actual trading constraints tell a different story.

The 1-Step Challenge requires the same 10% initial Profit Target as the first stage of the 2-Step Challenge, but the Maximum Daily Loss falls from 5% to 3%.

A simple way of illustrating that difference is to divide the Profit Target by the daily loss allowance:

Challenge: 1-Step. Profit Target: 10%. Daily Loss Limit: 3%. Target-to-Daily-Loss Ratio: 3.33x

Challenge: 2-Step Phase 1. Profit Target: 10%. Daily Loss Limit: 5%. Target-to-Daily-Loss Ratio: 2.00x

This is not an FTMO metric and should not be treated as a universal difficulty score. It simply demonstrates that the single-step product gives you considerably less daily downside room relative to the profit you need to produce.

The 1-Step Maximum Loss is also an end-of-day trailing limit. On a $100,000 account, it initially sits at $90,000. If your highest end-of-day balance rises to $104,000, the Maximum Loss floor rises to $94,000 for the following day. The floor can move upwards but does not move downwards simply because the account subsequently loses money.

The 2-Step Maximum Loss remains a static 10% of initial simulated capital.

For a trader whose edge produces smooth, repeatable daily returns, 1-Step can make sense. For everyone else, I would rather complete the extra Verification phase in exchange for the larger daily loss allowance, static Maximum Loss and refundable fee.

The FTMO 1-Step Best Day Rule needs to be understood before you buy

On FTMO 1-Step, your most profitable day cannot represent more than 50% of your total Positive Days' Profit when you qualify or request a Reward.

This does not mean FTMO automatically fails your account if one day exceeds 50%. Instead, you have to continue trading until your other positive trading days reduce your Best Day to 50% or less of total Positive Days' Profit. The rule applies both during the 1-Step Challenge and on the subsequent FTMO Account.

For example, suppose your profitable days are: Day 1: +$6,000

Day 2: +$4,000

Your Positive Days' Profit is $10,000.

Your $6,000 Best Day represents 60% of that total, so the Best Day Rule is not yet satisfied even though you have generated $10,000 in positive-day profits.

If $6,000 remains your largest day, you need at least $12,000 of total Positive Days' Profit before $6,000 represents 50% or less.

That makes FTMO 1-Step a poor fit for strategies where performance is naturally concentrated around a small number of exceptional sessions.

How much does FTMO cost?

FTMO charges a one-time evaluation fee rather than a recurring fee for its standard CFD Challenges. FTMO's published euro prices at the time of this review were:

Simulated account size

$10,000. 1-Step standard fee: €79. 2-Step standard fee: €89

Simulated account size

$25,000. 1-Step standard fee: €199. 2-Step standard fee: €250

Simulated account size

$50,000. 1-Step standard fee: €319. 2-Step standard fee: €345

Simulated account size

$100,000. 1-Step standard fee: €499. 2-Step standard fee: €540

Simulated account size

$200,000. 1-Step standard fee: €999. 2-Step standard fee: €1,080

FTMO periodically runs promotions. For example, the $100,000 products were being advertised below their standard prices when this review was updated. Promotional pricing can change, so the current checkout price should be checked before purchasing.

There are no recurring fees on these standard FTMO Challenge products.

Is the FTMO Challenge fee refundable?

The 2-Step fee is refundable after your first qualifying Reward. The 1-Step fee is not.

If you successfully complete FTMO Challenge: 2-Step, receive an FTMO Account and subsequently receive your first Reward, FTMO refunds the original Challenge fee.

FTMO Challenge: 1-Step does not include this refund.

This is another reason I prefer 2-Step for most traders.

If you ultimately pass and reach a Reward, the nominally more expensive evaluation can have the lower effective cost because the evaluation fee comes back.

Does FTMO have a Free Trial?

Yes. You should use the FTMO Free Trial before paying for a Challenge.

FTMO provides a 14-day Free Trial using a simulated account. Only one Free Trial can be active at a time, but traders can start another after deleting or completing the previous one.

There is one important limitation: the Free Trial's required Profit Target is reduced compared with the paid Challenge.

That means the Free Trial is best used to answer:

• "Can my strategy operate comfortably inside FTMO's loss rules?"
• It should not be used to conclude:

"I passed the Free Trial, therefore I will definitely pass the paid Challenge."

I'd want to complete the trial without repeatedly approaching the Maximum Daily Loss before paying FTMO anything.

How do FTMO payouts work?

FTMO calls payouts Rewards because FTMO Account trading remains simulated.

A trader can request a Reward on the 14th day, or any later day, after placing the first trade on an FTMO Account. Open positions and pending orders must be closed before the withdrawal request is processed.

FTMO says an account review normally takes 1 to 2 business days. Once the Reward is approved and the required payment information or invoice is completed, payment is usually sent within another 1 to 2 business days. Available payment methods include:

The available methods and their limits depend on the conditions FTMO publishes for each payment option.

What percentage of profits does FTMO pay?

FTMO's current Reward Ratios are:

• 1-Step FTMO Account: 90% of simulated profit
• 2-Step FTMO Account: 80% initially
• Scaled or qualifying 2-Step Account: up to 90%

FTMO's Scaling Plan can increase an FTMO Account by 25% every four months when its performance requirements are satisfied, up to a maximum of $2 million across scaled FTMO Accounts.

Before normal scaling, FTMO currently limits total capital allocation to $400,000 per trader or strategy across 1-Step and 2-Step Accounts.

What are the biggest FTMO rules traders need to watch?

FTMO's headline Profit Target is not the main thing I'd worry about. The risk calculations and post-evaluation trading restrictions are where traders can get caught.

1. Maximum Daily Loss includes open trades

FTMO's Maximum Daily Loss is based on equity, not just realised losses.

Closed profit and loss, floating P&L, commissions and swaps are included. A trade does not need to be closed for an account to violate the daily limit.

The limit is recalculated at midnight Central European time.

That means anyone trading across the daily reset needs to understand the calculation rather than assuming "I haven't lost 5% in closed trades today, so I'm safe."

2. The 1-Step Maximum Loss trails upwards

The 2-Step account uses a static 10% Maximum Loss.

The 1-Step account uses a 10% end-of-day trailing Maximum Loss based on the highest qualifying end-of-day account balance. Once that loss floor moves upwards, subsequent losses do not move it back down.

This makes protecting accumulated gains more important on 1-Step.

3. News restrictions apply to funded Standard accounts

During the Evaluation Process, FTMO allows traders to trade through news events.

Once you are trading a Standard FTMO Account, selected news events are different. FTMO prohibits opening or closing affected instruments from two minutes before until two minutes after specified releases. A Stop Loss or Take Profit executed during the restricted window can also count as a breach.

The restriction does not apply to the FTMO Swing account.

4. Standard FTMO Accounts have weekend and extended market-close restrictions

Evaluation accounts can hold positions overnight and over the weekend.

On a Standard FTMO Account, positions must be closed before the weekend and before market interruptions lasting more than two hours.

FTMO Swing accounts remove these restrictions, but the Swing account is available only through FTMO Challenge: 2-Step.

Swing traders should therefore think very carefully before choosing 1-Step merely because it has fewer evaluation stages.

5. Not every profitable-looking trading technique is allowed

FTMO permits discretionary trading, algorithmic systems and Expert Advisors, provided the activity is legitimate, replicable under real-market conditions and does not fall within FTMO's Forbidden Trading Practices.

FTMO specifically restricts behaviour designed to exploit price-feed errors, delays or characteristics of the simulated environment, along with several forms of coordinated or manipulative trading.

Read the actual Forbidden Trading Practices before starting a paid Challenge. A summary on an affiliate review page is not a substitute for the contract that determines whether you get paid.

What trading platforms does FTMO support?

FTMO currently supports:

• MetaTrader 4
• MetaTrader 5
• cTrader
• TradingView

DXtrade is no longer available for new accounts. FTMO announced that DXtrade was being discontinued from 24 March 2026, although existing accounts were initially left active during the migration process.

That DXtrade change is worth checking because a surprising number of FTMO comparison pages still list it as a current platform.

FTMO's CFD environment includes Forex, indices, commodities, stocks and cryptocurrency instruments available through its supported platforms.

What do FTMO customer reviews say?

FTMO had a 4.8/5 Trustpilot score from 51,642 reviews when checked on 10 September 2026. Approximately 92% were five-star ratings and 3% were one-star ratings.

That is a meaningful volume of public feedback, but Trustpilot should not be mistaken for an audited payout ledger.

Recent reviews include traders reporting successful Rewards and positive customer service experiences, while negative reviews and community discussions include disputes around payout eligibility, risk management and account-rule enforcement.

The same mixed pattern appears on Reddit.

For example, one April 2026 Reddit poster initially worried that a roughly 3% risk trade might create a payout problem, then updated the thread to say the payout was received. Another July thread alleged that part of a payout was denied after a trade was affected around a restricted news event. These are anonymous user reports and cannot independently prove what occurred inside either account.

The useful conclusion is not that every complaint is false or that every payout is guaranteed.

It is that rule interpretation matters.

I would treat FTMO as a contractual trading programme. Know the rules before you trade, rather than trying to argue about their interpretation once a Reward is waiting.

FTMO pros and cons

FTMO advantages

Established in 2015, giving FTMO a much longer operating history than many modern prop firms.

Clearly published numerical Trading Objectives with practical examples.

1-Step and 2-Step evaluation options.

Unlimited evaluation periods.

90% Reward Ratio from the beginning on 1-Step.

Refundable Challenge fee on 2-Step after the first qualifying Reward.

MetaTrader 4, MetaTrader 5, cTrader and TradingView support.

Free Trial available before purchasing.

Swing account available through 2-Step.

Account scaling available up to $2 million.

Large volume of public customer feedback.

FTMO disadvantages

Challenge pricing is relatively expensive compared with price-led prop firms.

1-Step has a tight 3% Maximum Daily Loss.

1-Step Maximum Loss trails using the highest end-of-day balance.

1-Step uses a 50% Best Day Rule even on the FTMO Account.

The 1-Step fee is non-refundable.

Standard FTMO Accounts have selected news and weekend-holding restrictions.

Swing accounts are unavailable on 1-Step.

FTMO Accounts use simulated rather than trader-controlled live capital.

Profitable trading alone is not enough if activity conflicts with FTMO's contractual trading rules.

Who is FTMO best for?

FTMO is best for traders who already have a tested strategy and care more about counterparty history, clear rules and infrastructure than finding the cheapest Challenge available.

The strongest FTMO fit is a disciplined trader who can operate comfortably well inside the loss limits rather than treating the Maximum Daily Loss as a daily risk budget.

Day traders fit the Standard product naturally.

Swing traders should strongly favour the 2-Step Swing configuration because it removes FTMO's normal news, overnight and weekend restrictions.

Who should avoid FTMO?

FTMO is a poor fit if your strategy depends on oversized individual trading days, frequent trading directly through major economic releases, aggressive use of the maximum drawdown, or holding positions across weekends while using the 1-Step product.

FTMO also makes little sense if your real objective is simply to open a brokerage account and trade your own money.

FTMO is not a broker.

If you want a regulated brokerage relationship with your own deposited capital, compare brokerage products instead of prop-firm Challenges. FTMO Group's ownership of OANDA does not change that distinction.

Can traders in the United States use FTMO?

Yes, but United States clients use FTMO's US-specific arrangement rather than the ordinary global FTMO service.

FTMO's eligibility page directs clients in the United States to its affiliated FTMO US service, operated through the FTMO and OANDA arrangement. FTMO treats this separately from the standard global programme.

This is another area where older FTMO reviews saying simply "FTMO does not accept US traders" are now outdated.

FTMO also operates a separate FTMO Futures product. FTMO Futures has its own evaluation structure, account rules, platforms and eligibility requirements. Its conditions should not be combined with a review of the standard FTMO CFD Challenge.

Is FTMO worth it in 2026?

FTMO is worth considering if you are already consistently profitable under strict risk limits. For most traders choosing FTMO, the 2-Step Challenge offers the better risk-to-rules trade-off.

FTMO's competitive advantage is not that it offers the cheapest Challenge.

It doesn't.

FTMO's advantage is the combination of operating history, mature infrastructure, transparent numerical rules, established public reputation, multiple platforms and a substantial body of evidence showing that qualifying traders receive Rewards.

The compromise is that those Rewards sit behind a fairly strict rulebook.

For most traders, I would make the decision this way:

Choose FTMO 2-Step if you value a 5% daily loss limit, static Maximum Loss, refundable fee and access to Swing.

Choose FTMO 1-Step only if reaching an FTMO Account in one evaluation phase is materially more valuable to you and your strategy can comfortably tolerate the 3% daily loss limit, trailing loss floor and 50% Best Day Rule.

Choose another prop firm if your priority is simply the lowest Challenge price, instant access or a more permissive trading-rule environment.

And before choosing any of them, use FTMO's Free Trial.

If your strategy struggles to stay comfortably inside FTMO's rules when there is no entry fee at risk, paying for the Challenge is unlikely to fix the problem.

Frequently Asked Questions

Is FTMO a scam?

No. FTMO is an established Czech modern prop trading company operating since 2015. FTMO provides simulated trading rather than conventional brokerage accounts, and users should understand its contractual trading rules before paying for an evaluation.

Does FTMO pay real money?

Yes. FTMO Account trading uses simulated capital, but qualifying traders receive real monetary Rewards calculated from eligible simulated profits.

Is an FTMO Account real or demo?

An FTMO Account uses fictitious capital in a simulated trading environment. It is not a conventional live brokerage account containing capital deposited or allocated to the trader. FTMO states that it may separately use trading data from FTMO Accounts when trading its own live accounts.

Is FTMO regulated?

FTMO itself states that its companies do not act as brokers or accept deposits. FTMO Group owns OANDA, which operates regulated brokerage entities, but OANDA's regulatory status should not be presented as regulation of an ordinary FTMO Challenge or FTMO Account.

How long does an FTMO payout take?

An FTMO Trader can request a Reward from the 14th day after the first trade on the relevant FTMO Account. FTMO says account review normally takes 1 to 2 business days and approved Rewards are typically sent within another 1 to 2 business days after the required payment information is approved.

Does FTMO refund the Challenge fee?

FTMO refunds the 2-Step Challenge fee with the first qualifying Reward. The FTMO 1-Step Challenge fee is not refunded.