Ftmo indonesia reddit. even if it's just a simulation. I guess the main questions are- is that the best way to do this, should I just hire a CPA (suggestions?), and are any of you trading for FTMO/how are you paying your taxes (if you are US based)? The issue here is that you see all the 'success' stories and no failure stories. If you are viewing this on the new Reddit layout, please take some time and look at our wiki (/r/step1/wiki) as it has a lot of valuable information regarding advice and approaches on taking Step 1, along with analytical statistics of study resources. so let me clear things up: your trades never get placed in a real market. Took alot of shit from other people. I’m not sure ftmo suits low time scale scalping. com, a trading forum run by professional traders. The reviews and testimonials are all 100% organic. FTMO is reputable. So this how the first FTMO payout went. The true advantage about FTMO is that when you passed the test, you get the refund so it didnt cost you at the end. IMO, MFF only beats FTMO with better evaluation requirements. FTMO companies do not act as a broker and do not accept any deposits. Exclusive Access: Unlock a new, larger challenge option ($400k) at a discount. FTMO recently blocked new and existing US clients from purchasing new challenges or trials. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. seems like you guys have not understood how ftmo works. the split is about 80/20 i think? but you have a pass a test to show you can trade well enough to grow an account without losing more than a percentage of the account. They have raw interbank spreads on everything. I would think so in the sense that the tighter the spread the better right? Their spreads are just all tighter than FTMO. You can't open or close a position on certain pairs 2 minutes before or after a news release comes out that effects those pairs. I’ve passed the first challenge for the $200k account. Any FTMO swing account trader here, does they allow news trading, in the about it says yes, but the clause says no. The difference between FTMO Account and FTMO Account Swing is that, in the second one, you can trade through news and hold trades over weekends. 5k The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. I’ve tried FTMO and Trader2B, and can confirm that the culmination of experience day trading will help you be successful in passing these. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. FTMO's 70/30. Got to give it to FTMO. M1 is made for those looking to build their wealth using powerful automation and topflight rates. Ftmo is awesome and industry standard, I'm just not a fan of the "make profits in this amount of time" system, but if I'm not mistaken as long as your account is profitable they will let you continue even if you didn't hit the target. You need solid trades and mostly wins if you don't want to risk losing the account (I have lost 1 account total). I wouldn't trust my money elsewhere. None of the people that fail post anything up on reddit because there is no point, while the people that succeed (which is a tiny %) are on here having their 15 mins of fame before 99% of them inevitably lose the account which they attained through luck rather than actual trading skill. No news rules, no weekend rules, smaller target, cheaper price. With FTMO, after 2 months of consistent trading you can have that capitol to trade with. This Evaluation Process consists of an FTMO Challenge and a Verification and is specifically tailored to discover trading talents. S. Savings are hard to come by because FTMO doesn't give them out very often. You use correct word: least shady bappebti, but I wouldn't put my money in even the slightest less shady broker, I want the best in the world, publicly traded, insured, based in a country with the highest compliant with law, after all, that is your hard earned money All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. Free Challenge: Earn a free FTMO challenge at the same size as your current account. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. This is my 3rd time with FTMO. Jan 10, 2024 · The Republic of Indonesia; Venezuela; South Sudan; Sudan; Iran ; Syria; Myanmar; Is FTMO Regulated? Prop firm traders must enter into the FTMO Account Agreement and pass the KYC/KYB process. Trust the process and don’t give up. But for the challenge, they're faced with the same problem as before. But to your point about increasing from $140K to $300K: are you seriously proposing that a reasonable person, acting prudently, would let $160,000 sit in a a non-intrest-bearing-account if there was the slightest chance they may never receive that money? Like the market owes me right. I'm a little biased though because I also trade bitcoin in addition to forex and the MFF's crypto spreads are horrendously garbage imo. I'm a swing trader looking for a funded challenge, FTMO seems the most legit, but I'm not too sure if it's appropriate for swing traders? I hold trades generally for 2-3 days (average 1-2 trades per week), and I've been consistently profitable for a wh Passed the first evaluation but failed the second due to emotional trading and holidays season. I used to commented on youtube about how bad the slippage and spread was on MFF so I used FTMO even though FTMO is harder. Effective 04 May 2023, due to our business decision based on operational considerations, FTMO stops accepting new clients in the US states of Delaware, Louisiana, South Carolina, Montana, and Arkansas. The main reason is rules and laws. The contract further details the FTMO regulatory compliance and relationship with the Step 1 – FTMO Challenge. as long as you don't resort to shady practises and align your trading style with them , you are good to go. -Share FUNNY Trading Hello, good day everyone. FTMO is it's own broker, I've asked that recently and that's what they replied. Tbh MFF is okay, their customer service is kinda bad ngl but there is proofs of pay outs. The offered technical solution for the FTMO platforms and data feed is powered by liquidity providers. once you're a full FTMO Trader, you can even go on an entire month without trading at all if unforeseen Posted by u/UnluckyLizard-22 - 2 votes and 1 comment 74 votes, 117 comments. Do you think I need to be worried about FTMO not paying me out if its a winner? Now over 3 years later, I see that FTMO still exists and now they allow crypto alts trading (xrpusd etc) which is nice! I wanna hear from anyone that has been trading on a live account for a few months, how has your experience been, payouts, etc. Same here. Thanks for reading this FTMO review. Searching for it online is a waste of time. - To be with other like-minded forex traders. When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. Damn thinking back I was smart af. If you're in the scaling plan, you get a new "initial balance" reflecting the "scale up". It's way quicker than building up your personal account from 150 to 10k. Swing traders can go through a multi-month drawdown even with a profitable strategy, b Unfortunately I'm living in Indonesia (long term resident permit) and even though I could use my home country ID/bank statement to undergo the KYC after challenge/evaluation is successfully completed, I still couldn't use FTMO as they banned people residing in Indonesia (since mid September, it's written in the FAQ). I think a lot of people don't realize that many of the traders that pass the challenge fail to make their first withdrawal because they fall off after getting funded. I usually risk 1-2%, but on an A+ setup I might want to risk 4% (5% would be daily drawdown). They just seem to offer a better deal overall. FTMO is a prop firm where you can get a funded account to trade. Do my statements make sense? If yes, why would anyone not go for a swing account? FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. On FTMO's YouTube channel, I was watching one of the videos about the process and they said in the video that you don't need to contact them because they already know your account is ready for the next step. The prop firm will control the account at the broker, that's why they pick and choose who they work with. Getting fucked on market orders hard. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. For swing traders, it's a great improvement too once they actually get the funded account. Even on Gold I notice there spreads can get a little high. They've basically undercut FTMO in almost every aspect. Time limit is only con bro. Nu weet ik dat de belastingen bij forex rond de 1-2% liggen, wat geldt bij handel van je eigen kapitaal. Welcome to FXGears. It is recommended because it is trusted. I’ve been trading for about 2 years and have yet to make a consistent profit. I can go on and on but mff wins 🏆. You can achieve an equal amount of profit from just $10,000 account with own money, taking almost 40% floating DD ($4000), instead of <5% realized DD in FTMO. I think most of it comes to revenge trading and options instead of a stable cash account like FTMO where I don’t have theta or PDT. I have 2 questions: 1- When have you received your account after passing the challenge? 2- When do I receive the refund for challenge & how do I receive it? Side note: I have tried 7 prop firms since last year. once you pass they give you the acct, and from then you grow the account and get paid from it FTMO Forex Trading Community was created with the following intentions: - To help new and professional traders learn and improve their forex trading skills as best as we can, - To help Traders know more about FTMO and how to get funded by them, - To help/guide new traders in passing the FTMO challenge and verification stage. Halfway there on the second challenge. FTMO official response: Hi there folks, thanks for your comments. Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. I just waited until it came. We would like to show you a description here but the site won’t allow us. FTMO only lets you trade CFDs, which is illegal in the U. FTMO Challenges started before this date and active FTMO Accounts are not affected by this decision, however, new orders are not available. . Unfortunately, many are not quite right and many are misleading. Good afternoon Traders! I have successfully passed my $100K FTMO challenge. Use VPN and bypass those idiots. Reply reply [deleted] Ive had so many slippage mishaps with ftmo where they literally will widen the spread just to hit yoir stop loss it happened literally 75% of the time with ftmo compared to mff. e. there are 50 prop firms operating as of now , but no firm can match track record . Now they have removed US clients access to MetaTrader and are pushing DXtrade instead. Just a heads up in case anyone was looking at doing the challenges. I want to trade on FTMO - max leverage is 1:3 for my symbols. 😕 Customers from the US are no longer welcome. Spread on limit orders is also rediculous. The max daily loss is the thing you need to watch out for. 8. 5-1. And still, I would be way more stressed out having a drawdown period on my personal account than on a FTMO account. I did not contact support. Our FTMO Challenge is the first step of our Evaluation Process. So obviously, there’s something wrong with the strategy. If you have $1000, that's the exact same as having a $10,000 FTMO account; if you lose $1000 on an FTMO account of that size, they close your account. I've done challenges on both and I personally prefer FTMO. professionalism ,longevity of FTMO. This is why I recently have been focused I think so, but not all of them, people say why wouldn't they do it themselves, lest they forget max amount you can have is 400k on ftmo for example, so if he can consistently make profit on his/her own, they can do it on other accounts, and if they manage it after the challenge, take a % of what they make on the account, if they lose the challenge, they may only refund the service fee or FTMO does not offer or provide services to users in your country. With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). The leverage is only 1:30 instead of the usual 1:100 however it is easily compensated by trippling your lot size. I personally trade with them, but you have a tight margin of error to work with. As a result, FTMO opted to cease services for US clients to maintain their business model elsewhere without conflict. Ftmo might he the next go seem ok just different targets tge 2% extra might take one or 2 goes however finish the month in profit and you get a free retake. M1 lets you earn, invest, spend, and borrow all on one financial platform. Hallo Geldzaken, Ik zal binnenkort officeel een handelaar zijn onder FTMO (een prop firma die handelaars hun kapitaal geeft om te traden). There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. 383K subscribers in the Forex community. Implications for Traders The immediate effect of this ban is apparent – US traders can no longer participate in FTMO's evaluation process or manage FTMO-funded accounts. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. Before you can get your FTMO Account, we need to be sure you can trade responsibly and manage risk properly as, in the future, we can use your simulated trades performed via the FTMO Account when trading on our own account on real financial markets. I can't find the stats on how many traders have been funded for the year 2020 in FTMO. FTMO does have some downsides though the biggest being the news restrictions. 8 - Win rate of 55-60%. com's Reddit Forex Trading Community! Here you can converse about trading ideas, strategies, trading psychology, and nearly everything in between! ---- We also have one of the largest forex chatrooms online! ---- /r/Forex is the official subreddit of FXGears. with FTMO you can get a practise account and test fills , spreads for 14 days. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Once I receive a payout I’ll post a screenshot here. I still think FTMO is a great short term idea. You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. Now we can trade through high impact news and hold runners over the weekend if we want. Savings: Get a 10% discount on all future FTMO purchases. -ftmo's business model is based on the failed challenge fees. Also live account cant buy you a peace of mind since anybody would rather lose their funded account than blow their live account worth of $3. You initially pay for a challenge account. The FTMO Account agreement defines the trader’s duties and rights. In a weird way, when I treat my FTMO accounts and personal account (connected with social trader tools) like demo accounts, I stop caring so much that it messes me up. My advice is if you can afford it, go for FTMO , if not MFF. which is more than enough to pay out the traders that do make money (90%+ loose) As I'm wrapping up with my FTMO challenge, one thing I would like to know but cannot find any information on is once you become an FTMO trader, what happens at your monthly profit split if your account is in a slight loss but you haven't breached any of the drawdown rules during that month? Say you end the month at $199,000 on a $200k account. Yes it sucks, and yes you should have good risk management skills to mitigate the risk of it happening, but I found that caring too much usually leads to messing the account up. For now this is the end of my journey with FTMO as those who have been following my progress know I develop an algo in the MQL language. •FTMO Swing Account: no longer need to close trades for the weekend and, once you've passed both the challenge and verification, if I recall correct they also dropped the requirement of minimum 10 trading days a month - i. The FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. Or trade a small capital and grow it to afford FTMO which is what I’m doing now Seeing a lot of videos lately of people passing FTMO challenges on Youtube. com's Reddit Forex Trading Community! Here you can converse about… FTMO without second thought. There's no such thing as a prop firm that isn't a scam, because they show you numbers that you don't actually have. I've done tons of comparisons. Was surprised when the transfer hit my account wasn’t expecting it, but it’s legit. FTMO developed a unique 2-step Evaluation Process for traders. Another point to note is that trading with own money is always better and profitable in long term. If you’re really determined then plan on trying out the challenge X number of times until you get the hang of it. In the other note I believe in every single one y’all who are trying to make a change. Upon successful completion of the Evaluation Process, you are offered to trade on an FTMO Account with a balance of up to 200,000 USD. Also do FTMO swing also have Scaling function just like Standard FTMO account If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. It's up to the broker you use with that prop firm if they scam you or not. Bonus Rollover: Receive a 5% bonus when you roll your profits into a new FTMO account (withdrawable after 30 days). It's a huge improvement for day traders at least. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. jkbbjf yywocnd wxjhk tqd kavi vgzjgl yuzk abxvt gzn xoldz