FTMO, a proprietary trading firm that is well-liked by forex and CFD traders, has gained huge popularity for providing funded accounts to traders who succeed in their “Challenge” and “Verification” stages. However recent allegations and direct experiences of several investors seriously question the legitimacy and fairness of the platform. In this article, we explore allegations brought forward by traders that FTMO can be either working in a deceptive or manipulative way.
Website: https://ftmo.com/en/
Website Availability: NA
Headquarters Country: Prague, Czech Republic
Blacklisted by: Not recommended by the review website like Fraud Recovery Experts
Domain Age:
Name-FTMO.COM
Registry Domain ID-79863542_DOMAIN_COM-VRSN
Registered On-2001-11-16T20:25:47Z
Expires On-2029-11-16T20:25:47Z
Updated On-2023-11-15T19:12:44Z
Investor Complaints: What Went Wrong?
1. Minimum Trading Day Requirements
FTMO demands a minimum of 4 trading days from each phase of their assessment, which some users claim is too limiting and does not cater to actual trading methodologies. Investors have complained that this requirement tends to prompt forced trades, maximizing risk and possibility of loss.
2. News Trading Prohibition
One of the largest complaints includes limitations on news trading, particularly high-impact announcements. FTMO prohibits opening or closing trades during certain economic events, making it hard for news specialist traders. Most view this as a major restriction that suppresses profit potential.
3. Accusations of Manipulated Data
One of the more concerning claims comes from a trader who was conceded poor performance in two of the tests but claims the third test was unjustifiably terminated. The trader argues that they never went over the maximum allowable loss for a day, even taking floating losses into account. Yet FTMO supposedly presented an analysis contradictory to the experience of the trader, and they presumed the numbers were “fabricated or manipulated.”
Community Backlash
This is not an isolated sentiment. Many traders on forums and review websites have had similar experiences about:
Mysterious account closure
Late in responding or “robotic” support responses
Accounts being disqualified on the verge of profit-sharing milestones
Such trends have prompted others to call FTMO a “clever scam” that aims at taking challenge fees without the intent to actually fund successful traders.
Frequently Asked Questions (FAQ)
Q1: Is FTMO regulated?
FTMO is not overseen by any large financial regulator. They are a private company providing funding in-house.
Q2: Is it possible to make money with FTMO?
Yes, there are some traders who have completed the challenge and been paid out, but an increasing number report mysterious disqualifications.
Q3: What is the most common complaint against FTMO?
Unfair disqualifications due to dubious analysis or rule-breaking—particularly with floating losses.
Q4: Is FTMO a scam?
Although they run a legit-looking business model, most traders feel their business practices are unscrupulous and biased, which makes it risky for serious investors.
Final Verdict
While FTMO has helped many traders access capital, these serious allegations demand attention. If you’re a professional trader, it may be safer to look for more transparent and trader-friendly platforms. The risk of unjust disqualification, especially after investing time and money, is higher than many realize.
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