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FTMO Review (2026)
The longest-running forex prop firm, operating since 2015 with a two-stage evaluation, strict rules and the sector’s most documented payout history.
What a prop firm evaluation is — and is not
A proprietary trading firm evaluation is a paid assessment of trading skill. It is not an investment, a savings product, a job offer, or a regulated financial service. Your evaluation fee is at risk and is generally non-refundable unless the firm’s own refund terms apply.
The majority of participants do not pass, and passing does not guarantee a payout. Most firms trade in a simulated environment, so “funded” capital is typically a notional allocation rather than client money you own or control. Payouts depend on the firm remaining solvent and honouring its terms. Prop firms are generally not regulated as brokers or investment firms, so segregated client money rules, investor compensation schemes and ombudsman access do not apply. Several firms have closed or suspended payouts at short notice.
| Founded | 2015 (Prague, Czech Republic) |
| Evaluation model | Two stages: Challenge then Verification |
| Stage 1 profit target | Typically 10% of account size |
| Stage 2 profit target | Typically 5% of account size |
| Maximum daily loss | Typically 5% of initial balance |
| Maximum overall loss | Typically 10% of initial balance |
| Drawdown type | Static — calculated on initial balance, not peak equity |
| Minimum trading days | Applies on some plans |
| Profit split | Up to 90% on scaled accounts |
| Scaling plan | Yes — allocation increases on sustained performance |
| Evaluation fee | One-time, scaled by account size; refunded with first payout |
| Free trial | Yes — test the full rule set before paying |
| Platforms | MT4, MT5, cTrader, DXtrade |
| Account type | Simulated — notional allocation, not client capital |
| Restricted countries | Several — check current list before purchase |
Compiled from the firm’s published rules, FAQ and terms of service, cross-checked against independent prop firm reviews and community reporting, August 2026. Prop firm rules change frequently and without notice — verify current terms on the firm’s own site before purchasing an evaluation.
On this page
Quick verdict
FTMO is the benchmark, and the reason is duration rather than generosity. It has operated since 2015 through multiple market cycles with a documented payout record, which in a sector where firm collapse is the dominant risk is a substantive feature rather than marketing. Its rules are stricter and its fees higher than newer competitors. The free trial is genuinely unusual and is the single best reason to start here.
- Consider it if
- You want the longest track record in the sector and will accept stricter rules and two stages in exchange for lower counterparty risk.
- Avoid it if
- You want instant funding without an evaluation, or you are in one of the jurisdictions FTMO does not serve.
Affiliate link. Evaluation fees are at risk. See disclosure and risk disclosure.
Rules and drawdown
FTMO uses a two-stage evaluation. The Challenge sets a profit target of typically 10% with a maximum daily loss around 5% and maximum overall loss around 10%. The Verification repeats the exercise at a lower target, typically 5%, with the same loss limits. Passing both leads to an FTMO Account.
Crucially, FTMO uses static drawdown calculated from your initial balance rather than a trailing threshold that follows peak equity. This is far more forgiving and far easier to model than the trailing mechanics used by several futures firms, and it is one of the main reasons experienced traders prefer it.
Rules on consistency, risk and news trading are enforced more strictly than at newer firms. That is the trade-off for the track record: fewer ways to pass, but a firm far more likely to still exist when you want paying.
| Challenge (stage 1) | Verification (stage 2) | |
|---|---|---|
| Profit target | ~10% | ~5% |
| Maximum daily loss | ~5% | ~5% |
| Maximum overall loss | ~10% | ~10% |
| Drawdown basis | Static, on initial balance | Static, on initial balance |
| Time limit | Generous or unlimited by plan | Generous or unlimited by plan |
| Outcome | Progress to Verification | Progress to funded account |
The rule that ends most accounts
The maximum daily loss ends more FTMO accounts than the overall limit does. It resets at a fixed server time, so a losing session followed by a recovery attempt in the same day is the classic failure pattern. Size positions so that a bad day cannot approach the daily limit, not so that a bad week cannot approach the overall one.
Fees and profit split
FTMO charges a one-time evaluation fee scaled to the account size selected. There is no monthly subscription, so taking longer does not cost more — a meaningful structural difference from subscription-based futures firms like Apex and Earn2Trade.
The fee is refunded with your first payout, subject to conditions in FTMO’s terms. Read those conditions rather than treating the refund as automatic.
Profit split runs up to 90% on scaled accounts. The real cost driver for most traders is not the headline fee but retries — budget for the possibility of paying two or three times before passing, because most participants do.
Platforms
FTMO supports MetaTrader 4, MetaTrader 5, cTrader and DXtrade, which is the broadest platform choice among the forex prop firms reviewed here.
Its account analytics and trading journal are genuinely better than the sector norm, giving breakdowns by instrument, session and setup that most competitors do not provide.
- Two-stage evaluation with static drawdown
- Free trial to test the rule set before paying
- Profit split up to 90% with scaling
- MT4, MT5, cTrader and DXtrade support
- Detailed performance analytics and trading journal
- Evaluation fee refunded with first payout under stated conditions
- No monthly subscription — one-time fee
Who it suits
FTMO suits disciplined traders with an established risk process who value firm longevity above entry cost.
It suits anyone wanting to test prop firm rules before committing money, which the free trial makes uniquely straightforward.
It is a poor fit for traders wanting instant funding, for scalpers whose style conflicts with consistency rules, and for residents of restricted jurisdictions.
How FTMO compares
FTMO against the four other forex prop firms reviewed here. Note that operating history and drawdown type are the two variables that matter most in this sector.
| FTMO | FTUK | Goat Funded | Blueberry Funded | Instant Funding | |
|---|---|---|---|---|---|
| Model | 2-step evaluation | Instant + evaluation | 1-step and 2-step | Evaluation | Instant + evaluation |
| Operating since | 2015 | 2021 | 2023 | 2024 (Blueberry group) | 2022 |
| Drawdown type | Static overall + daily | Static | Choice by challenge type | Static + daily | Static + daily |
| Min trading days | Yes on some plans | None | Varies by plan | Yes | None |
| Free trial | Yes | No | No | No | No |
| Platforms | MT4, MT5, cTrader, DXtrade | MT4, MT5 | MT5, cTrader | MT4, MT5, TradingView | MT4, MT5 |
| Backing | Independent | Independent | Independent | ASIC-regulated broker group | Independent |
| Fee refund | With first payout | No | No | Varies | No |
Compiled from each firm’s published rules and cross-checked against independent reviews, August 2026. Prop firm rules change frequently — verify current terms before purchasing.
Trade-offs
From published documentation and recurring themes in public user feedback. Editorial observations, not our own trading results.
Strengths
- Longest operating record in forex prop trading — since 2015
- Documented payout history across multiple market cycles
- Free trial lets you test rules before spending anything
- Static drawdown is far more forgiving than trailing mechanics
- Best analytics and journalling in the sector
- One-time fee, refunded with first payout
- Widest platform choice of the forex firms here
Risks and limitations
- Stricter rules than newer competitors, including consistency requirements
- Two stages mean a longer path to funding
- Fees higher than budget firms
- Does not accept traders from several jurisdictions
- Accounts are simulated — allocation is notional, not client capital
- Most participants still fail
Alternatives
| Alternative | Consider it when |
|---|---|
| FTUK | You want instant funding without an evaluation |
| Blueberry Funded | You want backing from a regulated broker group |
| Goat Funded Trader | You want flexible rules and lower entry pricing |
Frequently asked questions
Is FTMO capital real money?
No. FTMO accounts operate in a simulated environment. You trade a notional allocation and receive a profit split on simulated gains. This is standard across the retail prop sector and is why these firms are not regulated as brokers.
What is the difference between static and trailing drawdown?
Static drawdown is calculated from your initial balance and does not move. Trailing drawdown follows your peak equity upward, so giving back open profit can breach it while you are still net profitable. FTMO uses static, which is materially more forgiving.
Is the evaluation fee really refunded?
FTMO refunds it with your first payout, subject to conditions in its terms. Read them rather than assuming it is automatic.
Why does FTMO cost more than newer firms?
You are paying for the probability that the firm still exists and still pays when you succeed. In a sector where several firms have closed or suspended payouts at short notice, an eleven-year operating record has genuine value.
Does FTMO accept traders from every country?
No. It excludes several jurisdictions for regulatory and sanctions reasons, and the list changes. Check the current restricted list before purchasing.
How we researched this review
This is a research-based editorial review, compiled from FTMO’s published rules and terms and recurring themes in publicly available user feedback, cross-checked against independent sources in August 2026.
We have not purchased an evaluation or traded a funded account with this firm and do not claim to. No testimonial here is presented as a real customer statement, and we publish no star ratings. Rules, fees and profit splits in this sector change frequently — confirm current terms before paying.
Compare FTMO against the field
Every provider in Forex Prop Firms is assessed to the same structure with the same data points.