The path to a funding account working for the FTMO firm
Test phase for FTMO - Forex brokerage agency.
Today began the first 14 days of preliminary testing before the mooring test at FTMO. The goal is to get the \(10,000 or\) 25,000 funded account with 1: 100 leverage, to handle up to 10 contracts in total.
FTMO is a professional forex brokerage agency founded by professional brokers. This agency is in charge of funding traders worldwide. As well as this firm, there are several other firms such as TopStepFX or TopStepTraders (of the same owners). After researching for a long time about these agencies, the best options and ratings, I opted for FTMO. At the beginning of the year I had the expectation to enter TopStep (any of the two mentioned above), since it is one of the agencies with the most prestige and recognition.
However, as I mentioned above, the ratings of this agency on TrustPilot (Reviews page) and I mention this directly to those interested; the comments on TopStepTraders were really very bad. If one is already risking money in the market, whatever the agency, start with the doubt of risk beforehand, better not start.
So FTMO seemed like the best option for me. Actually, the flexibility of its rules when trading seems to me the best, since you can operate your way under your own rules. The only thing is that you must be careful not to exceed the maximum loss or the loss would give.
To start, they give you 14 days of preliminary testing, before the real test with a $ 50,000 account on a platform of your choice, either: Metatrader4, 5 or cTrader. So you can get used to the account, the management of contracts, the platform and other tools they offer to have better control over your operations.
You can keep analytics and operations diary. You can also have a metric to see the escalation of your account in a real progress that is updated every 10 minutes.
Here you can see the account metric and how it varies according to the win rate. You also have the objectives that you must meet in terms of profit and risk management.
And the idea is to achieve \(1000 profit on the\) 10,000 account and \(2500 on the\) 25,000 account.
On this first day of operations I operated the way I always operate. The instrument is GBP / USD doing Scalping or Intraday, depending on the behavior of the market. I generally adapt my trading style to scalping. For those of \(50,000,\) 25,000 or $ 10,000 it is a way of doing trading that allows you to be quite profitable.
Operations will begin again on Tuesday, September 8 at 9:30 am, since today, September 7, the American market is closed for Labor day, so we have a volume of quite low liquidity.
Here you can see the list of winning and losing trades.
A total of 17 operations. 13 Winners and 4 Losers.
The main idea is to finish these first 14 days of trial in the \(50,000 account successfully, to finally cancel the funding test. I haven't really made up my mind yet which account to choose, but I have considered choosing the\) 25,000 account for the loss margin that this account handles. It is a bit more comfortable and less tight than the $ 10,000 account, however this is something I will decide to pay for the test.
FTMO is the best option for me, however there are other companies that perform these services. My goal since I started trading professionally has been to train myself correctly to work in an investment firm. Consistency has led me to this point that I consider to be a starting point in a fascinating world. There is no such thing as fast in investments or in trading, money is only the reward for a job well done.
I hope this record that I will begin to make will serve as a guide for you so that you can get to where you propose with trading and investments.
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Alejandro Aristeguieta CEO in Aristeguieta Capital. Investment Firm and Financial Analysis.