FTMO
Multi-asset prop firmFTMO is one of the longest-established forex/CFD prop firms, with structured evaluations (a newer 1-Step Challenge and the classic 2-Step of Challenge then Verification), a new Instant Account that skips the evaluation, and published rules. It now also runs a separate futures product, FTMO Futures, which its own navigation labels beta. It suits disciplined traders who can respect defined loss limits.
FTMO is running 19% off the $100,000 FTMO Challenge (2-Step, FTMO Standard account only): €540 becomes €439 including VAT, with no code needed. It is FTMO's public promotion for anyone without an active $100,000 Challenge, not a discount for coming through SMCM. The price is the same either way; using the Visit button is how FTMO knows you came from us. The 1-Step shows a separate 20% offer we have not checked. Seen at the FTMO checkout on 2026-09-17. Offers change, so confirm the price before you pay.
Quick facts
- Funding type
- 1-Step or 2-Step Challenge, or an Instant Account with no evaluation
- Max account
- $200,000 to buy; scales to $2,000,000 under the scaling plan
- Profit split
- Up to 90%
- Platforms
- MT4, MT5, cTrader
- Trustpilot
- 4.8 (~54k reviews)
Where you can trade
Available in most countries as evaluation and simulated-funded accounts; certain restricted and sanctioned jurisdictions are excluded. US residents go to a separate FTMO/OANDA joint venture at ftmo.oanda.com. Note its own disclosure that you have no client relationship with OANDA Corporation and so do not get the regulatory protections OANDA's own customers receive. Confirm availability for your country on FTMO's official site.
Notable restrictions (3)
Checked by SMCM 2026-07-09. The provider's official list is authoritative and can change. See the official list ↗
Eligibility depends on your country of residence and which entity you are onboarded to, and can change. Always confirm you can open an account (and under which entity) on the provider's official site before funding.
Our take
FTMO helped define the modern prop-firm model and remains one of the most widely discussed firms in it. Its evaluations (a newer 1-Step Challenge and the classic 2-Step path of Challenge then Verification) are built to filter for consistency, and its rules are published in detail. A third route, the Instant Account, skips the evaluation for a higher, non-refundable fee and tighter rules once you trade. Its public review base is among the largest in the category, which is a useful place to check payout experiences for yourself.
The trade-off is discipline. Daily-loss and maximum-loss limits are enforced strictly: breach one and the account is gone regardless of how profitable you were overall. That rewards steady risk management over big swings, which is exactly why rules-first traders favour it and gamblers wash out.
It is not the cheapest entry or the flashiest split on paper, but it is one of the longest-established firms in the category, with a correspondingly large public review base. Treat it as a long-term partner rather than a quick flip, and always confirm the current rulebook, since profit targets and news-trading rules have changed over time.
Pros
- Long track record; 2-Step fee refunded with the first reward
- Clear, well-documented rules
- Up to 90% profit split; scaling plan available
Cons
- Two-step evaluation takes time
- Strict maximum loss and daily loss limits
- 1-Step and Instant fees are not refunded
- The futures product is new and FTMO still labels it beta
Rules by account type
The rules belong to the product, not the brand. Read the row for the account you are actually buying.
| Account | Profit target | Daily loss limit | Max loss limit | Min trading days | Best day cap |
|---|---|---|---|---|---|
| 1-Step | 10% | 3% | 10%, trailing at end of day | None stated | 50% |
| 2-Step | 10% then 5% | 5% | 10%, static | 4 per phase | None |
| Instant | None (no evaluation) | 3% | 10%, trailing intraday | None stated | 30% |
The same on every model
- Three products, three meanings of 10%
- Same brand, same website, and the rules that decide whether an account survives differ on each. The 2-Step fixes your maximum loss and has no best-day cap, but asks for a second phase. The 1-Step trails the maximum loss at end of day and caps your best day at 50%. The Instant Account skips the evaluation, trails the maximum loss in real time and caps your best day at 30%.
- Does the open trade count?
- Yes. FTMO states the daily loss is “based on equity, not only on closed results”, meaning closed positions plus the floating P/L of open ones, plus commissions and swaps. It resets at 00:00 CE(S)T from the previous day’s midnight balance, so a position dipping past the line at any moment breaches it even if it later closes in profit.
- How the 1-Step trail works
- The maximum loss is recalculated daily from the highest account balance recorded at 00:00 CET on any preceding trading day. It follows your best close upward and never comes back down.
- How the Instant trail works, and why withdrawing is the trap
- The limit sits 10% of the starting capital below the highest balance reached from closed positions, and moves the moment a trade closes at a new high, not once a day. It never comes down, and it does not reset when you withdraw a reward or move on to the FTMO Account. FTMO's own warning: once your balance exceeds 110% of the starting capital, a reward withdrawal would breach the limit, and it is your job to make sure it does not.
- The best day cap is a delay, not a breach
- Exceeding it does not fail the account. You keep trading until the best day is back under 50%. It applies to the 1-Step Challenge and to the 1-Step funded account. What the 50% is measured against changed on 12 October 2026: accounts from orders on or after that date use total profit, all closed profits and losses together, so losing days raise the bar; older accounts keep the Best Day Rule, which counts profitable days only. The Instant Account's cap is tighter, 30% of total profit, applies only to reward eligibility, and counts from zero again after each withdrawal.
- Time limit
- None. FTMO removed the 30 and 60 calendar-day limits, so the trading period is open-ended. Only the minimum trading days remain, and on the 2-Step they need not be consecutive.
- Requesting a payout
- A reward request can be made from day 14 after the first trade, with all positions closed. FTMO says it reviews the request within 1–2 business days and typically sends the reward 1–2 business days after the invoice is approved. On the Instant Account, FTMO Identity must be approved before the first reward is processed.
- Fee refund
- 2-Step only. FTMO refunds the 2-Step fee with the first reward withdrawal and states that the 1-Step and Instant Account fees are not refundable.
Read from FTMO's published trading objectives on 2026-10-19. These change, so check the current page for the product you are buying.
Full details
- Evaluation model
- Three routes: 1-Step Challenge (single phase), 2-Step Challenge (Challenge + Verification), or the Instant Account, which has no evaluation and is active on purchase
- Account sizes
- $10k–$200k on the Challenges; $5k–$100k on the Instant Account
- Profit target
- 1-Step 10%; 2-Step 10% then 5%; Instant none
- Daily loss limit
- 2-Step 5%; 1-Step and Instant 3% of the initial simulated capital, measured on equity, so floating P/L on open trades counts toward it
- Max loss
- 10% on all three: static on the 2-Step; end-of-day trailing on the 1-Step; intraday trailing on the Instant Account, where a reward withdrawal does not reset it
- Best Day / Consistency
- None on the 2-Step. 1-Step: the best day may not exceed 50% of total profit, meaning all closed profits and losses together (accounts from orders created on or after 12 October 2026; older accounts keep the Best Day Rule, measured against profitable days only). Instant: 30% of total profit, checked for reward eligibility and counted from zero again after each withdrawal. Exceeding either is not a breach; you keep trading until it falls back under
- Min trading days
- 4 per phase on the 2-Step, and they need not be consecutive; none on the 1-Step or Instant
- Profit split
- 1-Step and Instant 90%; 2-Step 80%, rising to 90% through the Scaling Plan or Premium Programme
- News trading
- Restricted around high-impact news on standard accounts; Swing accounts allow news + weekend holding. Swing is offered on the 2-Step only
- Payout
- A reward request can be made from day 14 after the first trade. FTMO says it reviews the request within 1–2 business days and typically sends the reward 1–2 business days after the invoice is approved
- Fee refund
- 2-Step only, with the first reward. FTMO states the 1-Step and Instant Account fees are not refundable
Who it may fit
- • Traders who can follow strict risk rules
- • Forex and index CFD traders
- • Futures traders, via the separate FTMO Futures product
Who should avoid it
- • Traders who want a long-established futures product
- • Traders who dislike consistency-style / best-day rules
FAQ
- Does FTMO have a 1-Step Challenge?
- Yes. Alongside the classic 2-Step (Challenge then Verification), FTMO offers a 1-Step Challenge with a single 10% target. The 1-Step uses a tighter daily loss limit and an end-of-day trailing maximum loss plus a best-day rule, and starts at a higher profit split. Confirm the current rules for each model on FTMO's site.
- What is the FTMO Instant Account?
- A third route that skips the evaluation: the funded account is active on purchase, from $5,000 to $100,000, with a 90% reward split. It costs more to start (FTMO's comparison table listed it from €169 in October 2026, against €79 for the 1-Step and €89 for the 2-Step), and the fee is not refundable. Once you trade, the rules are tighter: a 3% daily loss, a 10% maximum loss that trails every closing high in real time and does not reset when you withdraw, and a 30% best-day cap before a reward. Read FTMO's own warning that a withdrawal can itself breach the limit before you choose it.
- Does FTMO allow news trading?
- On standard accounts, trading around high-impact news is restricted; Swing accounts allow news trading and weekend holding. Swing is offered on the 2-Step only. Verify the current policy on FTMO's official terms.
- How fast are FTMO payouts?
- You can request a reward from the 14th day after your first trade. FTMO says it reviews the request within 1–2 business days and typically sends the reward 1–2 business days after the invoice is approved. Those are FTMO's own figures; we do not verify payouts ourselves, so check recent trader reports before you rely on them.
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Last checked: October 2026