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| FTMO vs Other Prop Firms: Which One Should You Choose? |
The world of proprietary trading firms, or "prop firms," has exploded in popularity in recent years. With countless options promising traders funded accounts and a share of profits, one name consistently stands out — FTMO. But how does FTMO compare to other prop firms on the market? In this article, we’ll break down the key differences to help you decide which firm best suits your trading style, goals, and experience level.
What Is a Prop Firm?
A proprietary trading firm provides traders with access to large amounts of capital to trade the markets. In return, traders typically go through an evaluation process and agree to split profits with the firm. The appeal is clear: you can trade with substantial capital without risking your own money.
FTMO: The Industry Leader
Overview
Founded in 2014 in the Czech Republic, FTMO is often considered the gold standard among prop firms. It is known for its professional approach, transparent rules, and consistently high payouts.
Key Features
- Evaluation Process: Two-step evaluation — a Challenge and a Verification phase. You must meet specific profit targets while adhering to risk limits.
- Payout Ratio: Up to 90% profit split.
- Maximum Capital: Up to $400,000 in funding per account (can be scaled up).
- Platform Support: Offers MT4, MT5, and cTrader.
Pros
- Well-established and trusted brand
- Professional customer support
- Risk management training
- Offers scaling plan for successful traders
Cons
- Strict rules and daily drawdown limits
- Requires discipline and consistency to pass
Other Popular Prop Firms
There are several alternatives to FTMO, each offering unique perks and challenges. Let's compare some of the most notable ones.
1. MyForexFunds (Currently Shut Down as of 2024)
Previously a major competitor, MyForexFunds (MFF) was shut down due to regulatory issues. While it once offered a more relaxed challenge process and lower fees, its closure highlights the importance of choosing regulated and reputable firms.
2. The5ers
The5ers is another well-known prop firm, focusing more on low-risk, long-term trading styles.
- Profit Split: Up to 75%
- Challenge Style: Instant funding available (without evaluation for certain accounts)
- Ideal For: Swing traders, risk-averse strategies
- Drawback: Slower scaling, lower initial capital compared to FTMO
3. True Forex Funds
A newer but fast-growing firm with many similarities to FTMO.
- Profit Split: Up to 80%
- Evaluation: Two-phase process, less strict on drawdown limits
- Key Advantage: Faster evaluation timelines
- Risk: Less track record compared to FTMO
4. TopStep (Futures Trading)
For those interested in futures trading, TopStep is a highly reputable firm.
- Focus: Futures (not forex or CFD)
- Profit Split: Up to 90%
- Regulated & Experienced: One of the oldest firms in the U.S.
- Drawback: Doesn’t support forex traders
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