FTMO Exam Rules Supplement
The focus of this article is to supplement the rules or operations that need to be paid attention to in small details but cannot be ignored.
Regarding the more detailed examination rules of FTMO, there is already a complete article. If you only read this article, you will not be able to understand the entire examination rules.
Introduction to FTMO | 說明 |
FTMO official website | |
FTMO official blog | |
FTMO mailbox | support@ftmo.com |
FTMO phone | +44 2033222983 |
FTMO Trader Interview | |
FTMO Exam Rules | |
FTMO Supplementary Rules | 前往文章 |
FTMO Registration Teaching | |
FTMO Frequently Asked Questions (Chinese) | |
FTMO free demo trading practice (performance can be tracked in the background) | |
FTMO directly register an account (no need to register and pay first) | |
【Comparison】 FTMO vs. My Forex Funds | |
【Comparison】 FTMO vs. FundedNext | |
【Comparison】 FTMO vs. E8 Funding | |
【Comparison】 FTMO vs. Leveled Up Society | |
【Comparison】 FTMO vs. The5%ers | |
【Comparison】 FTMO vs. True Forex Funds | |
【Comparison】 FTMO vs. Surge Trader | |
【Comparison】 Prop Firm Comparison | |
FTMO promotions |
FTMO only has the Normal assessment mode. For the rules and registration fees, please refer to the table below. This article is a supplementary explanation of the maximum daily loss and the maximum total loss.
In addition, when you decide to sign up for the exam, it is also recommended to review this article and the detailed rules of the two articles and the message office (your question may have been encountered by someone), of course, you are also welcome to add this site to your collection.
Risk control rules
Time zone correction
The basis of FTMO risk control regulations is based on [CE(S)T]Central European Summer TimeTo formulate it, so first of all, the time zone must be adjusted to Taipei time.
If you want to convert to Taipei time, you can select "Timezone Converter" at the bottom of the left sidebar in the background, select "UTC+8" to convert to Taipei time, and the time corresponding to [CE(S)T] will be displayed below.
After the conversion is completed, you can see below that the red box shows the current Taipei time. Starting at 0600:01 in the morning, it will be the next day. The maximum daily loss will be reset and the calculation will begin until the maximum daily loss is settled at 0559:59 on the same day.
Maximum Daily Loss Rule Max Daily Loss
The maximum daily loss is also known as DD (Daily Drawdown). In one day, the floating loss cannot be less than 5% (Normal)/10% (Aggressive) is one of the most important rules, and the maximum daily loss time is based on [CE(S)T]Central European Summer TimeTo formulate.
In the following example, for example, if it is Normal mode, the maximum daily loss of an account of 200,000 is 5% = 10,000.
(REGARDLESS OF WHETHER IT OPENS in the EARLY HOURS of Monday MORNING OR NOT) AT 0558 ON Monday, IT is Monday in terms of [CE(S)T], and once 0600 IS Tuesday.
And if you make a profit of 4,000 yuan on Monday, the maximum loss on Monday will increase to 14,000 yuan due to the profit, but the floating loss is -13,000 yuan, which is within the range of 14,000 yuan, so it complies with the rules.
As time passed, at 0601 on Tuesday, Monday's profit was not counted on Tuesday, and the maximum daily loss on Tuesday was reset to 10,000 yuan, but if the floating loss was still 13,000 yuan at this time, it would violate the rules!
If the above description is too complicated to understand, in simple terms, there will be a loss amount every day. If you make money today, then the amount you can lose today is the original plus the earned amount, and the amount will be reset the next day.
Taking the Normal 5% daily maximum loss amount as an example, suppose that with 10,000 funds, you can lose 500 USD (5%). If you earn 100 USD today, then the loss today becomes 600 USD (500+100); and the next day it will be reset to 500 USD.
It belongs to the Balance-based DD (Daily Drawdown), and the way prop firm calculates DD is also different from one another.
DD type | Balance-based | Equity-based |
說明 | Calculate DD based on account balance | Calculated based on net account value DD |
Prop Firm | ||
Calculate DD reset time |
|
|
Maximum total loss rule Max Loss
The measure of the maximum total loss isLook at the net value, not the account balance, As long as the net value of the overall account is lower than the requirements, it will be violated.
If you take a 100,000 account as an example, the account balance is 92,000 yuan and the floating loss is -2,001 yuan. At this time, the net value of the account is 89,999 yuan, which will be lower than the minimum net value of 90,000 yuan, and a violation will be committed.
The more intuitive way to observe the loss status of one's own account is to look at the highest total loss, and the record of the total loss is to look at the floating loss and only record the amount of the most loss, that is to say, as long as the floating loss is more than the previous time, the record will be refreshed.
Pattern rules
Account type
In the Account Type (Account Type), FTMO provides two options, namelyPreset FTMO, Swing。
The two modes will affect the leverage ratio, whether to keep positions overnight, whether to trade on weekends, and whether to trade data.
Preset FTMO | Swing | |
槓桿比例 | 1:100 | 1:30 |
留倉過夜 | 不可以 | 可以 |
週末交易 | 不可以 | 可以 |
數據交易 | 不可以 | 可以 |
In the exam stage, no matter which one you choose, you can keep a position overnight, weekend trading, or data trading. Only after passing the exam, the selected mode will trigger the conditions in the table above.。
The SETTLEMENT TIME for staying in the position overnight is the same as the settlement time for the maximum daily loss [CE(S)T].
Data release transaction
On the other hand, data transactions cannot be processed 2 minutes before or after the data is released! As for those data that have restrictions, you can check it in advance in the FTMO background.
You can refer to the following video description.
For information about Swing, please refer toOfficial description, If there are any changes, the content of the article will be continuously updated.
Registration fee refund and withdrawal rules
The registration fee varies according to different account sizes and account models. You can refer to the form above.
The registration fee is paid in one lump sum, and payment methods such as Visa, bank wire transfer, and cryptocurrency deposit can be used.
The registration fee will be refunded after the exam, and the registration fee will not be refunded together with the registration fee until the first withdrawal from the real account.
The minimum withdrawal amount stipulates that at least US220 can be withdrawn (the profit after the profit is divided). If the withdrawal is a cryptocurrency, the minimum withdrawal limit is US550. The minimum withdrawal amount is based on the handling fee of the platform used for the withdrawal. FTMO will not withdraw funds.Any expense.
The withdrawal time can be applied for 14 days a week or once a month. Generally, it will be received within 3 working days, but it still depends on the selected withdrawal method. The slowest time in a few minutes can be 2 weeks.
If you use international wire transfer for profit-sharing withdrawals, you can use a general domestic account. You don't need a foreign currency or U.S. dollar account. It's the same as using a broker to withdraw funds. If you use cryptocurrency to withdraw funds, please remember to confirm the wallet address, you can also refer toOfficial description。
Retake the extension rules
Free retake
Due to the new rules on 2023/7/13, the restriction on the challenge period will be cancelled, so there will be no rules for the extension of the period.
The retake is without violating any rules and the balance is positive. If the profit target is not reached within the challenge period, the retake will be free of charge.
When the challenge period expires, there will be five criteria to assess whether you are eligible for the retake. If you meet the following five criteria, you can retake the exam.：
Transaction days: At least 4 days, there are transaction records that need to be up to standard (up to standard)Maximum loss in a single day: cannot exceed the specified number of% (must meet the standard)Total loss: cannot exceed the specified number of% (must meet the standard)Profit target: The specified number of% is not reached (may not be up to standard)The balance is positive: the total funds at maturity must be greater than or equal to the funds at the time of registration (must meet the standards)
Whether it is in the Normal or Aggressive account type, and whether it is in the first stage of Challenge or the second stage of Verification, as long as it does not violate the rules, you can retake the exam for free unlimited times!
If you don't pass the first stage, you will return to the first stage, and if you don't pass the second stage, you will return to the first stage.
"Balance is positive" supplementThe balance is based on the size of the original capital position selected at the beginning of the registration. When the challenge period expires, the total funds settled must be greater than or equal to the initial funds and meet the other four criteria to be eligible for the re-examination. For example, to register for 100,000 funds, at the expiration date, the funds in the account must be greater than or equal to 100,000, and you can retake the exam if you meet the other four qualifications.
And if you are sure that you are eligible for the retake, after the expiration date, you can log in to your FTMO background and find the online customer service to tell them that you need to retake the test for free, but you need to tell them in full English. If you are not good at English, you can directly post the translation below, or useGoogle TranslateCommunicate with them.
How to apply for re-examination:
”Hello, my current account has expired but I have not yet reached the profit target. I know that there are rules for free retakes. Am I eligible to apply for free retakes? ”
Then the customer service should ask you for an account number (a string of numbers) and a registered email address. After confirming that your account status meets the above five items, you can wait for the new account to be issued.
You will receive 2 emails in about 1-2 working days, which are the analysis data of the old account and the information of the new account, or you can check it in the FTMO background.
Special case for extension
Due to the new rules on 2023/7/13, the restriction on the challenge period will be cancelled, so there will be no rules for the extension of the period.
In the original exam rules, both Normal and Aggressive have two exams, and the challenge period is 30 days/60 days. If there is no violation of the rules within the first challenge (within 30 days) and the profit exceeds half of the original profit target, you can apply for an extension 3 days before the expiration deadline. 14day.
And if you still can't achieve your profit goal within 14 days of the extension period, you can apply for a free re-examination qualification as long as you continue not to violate the law!
FTMO Product Information
After using it, it has been observed that FTMO belongs to the account type (ECN) with spread and handling fee (commission), while another common type is STP, which is a type with only spread and no commission fee. Generally, brokers will have two account types, but self-employed merchants usually directly fix the type and will not let users choose., ECN is also more common in self-employed accounts.
And if you want to check the FTMO spread, you can create a demo account and use your mobile phone MT4/5 to view it directly, or you can go toProduct information pageview.
FTMO latest update information
The latest information of FTMO will be announced on the official website or notified directly through the mailbox (requiredRegister an FTMO accountOnly), and for the announcement information on the official website, please refer to the picture. It will be announced on Thursday, Taipei Time every week.
Or directlyClick me to go to the announcement page。
Any matter of large or small will be officially announced here, you can go up and check it out regularly, of course, I will also update this article simultaneously, and the fastest notification is that I am directly inTelegram groupAnnouncement, everyone is also welcome to join!
Remove Aggressive mode (permanent)
The Aggressive mode will be removed in October 2023/10.
The challenge time is changed to an indefinite period (permanent)
【This announcement is 2023/7/13 announcement information】
The original 30-day challenge periods for Stage 1 and 60-day challenge periods for Stage 2 will be cancelled immediately, and the unlimited challenge period will be changed to an unlimited challenge period. Therefore, there is no retake and extension rule, and the unlimited challenge time is also a new rule. (Official rule description)
Minimum number of trading days (permanent)
【This announcement is 2023/6/1 announcement information】
The minimum number of trading days has been reduced from 10 days to 4 days. The minimum trading days for both Normal and Aggressive modes are 4 days, which means that you can obtain a fund account in 8 days at the fastest. (Refer toOfficial description)
Commodity contract changes (permanent)
[This announcement is the information announced this week on 2022/9/22]
Index commodities have changed from the current 1 lot of 10 contracts to the next lot of 1 contract specification, which means that the usual 1 lot becomes the next 10 lots.
The commodities that changed the contract this time have the following index commodities:
AUS200. cash, EU50. cash, FRA40. cash, GER40. cash, HK50. cash, JP225. cash, SPN35. cash, UK100. cash, US100. cash, US2000. cash, US500. cash (US30. Cash also applies this change standard, but it has been changed in advance)
The change time will take effect from the opening of the market on 2022/10/10 (Monday), and 1 hour before the closing of the market on 2022/10/8 (Saturday), which is 03:50 a.m. Taipei time on 2022/10/8 (Saturday). m. The parts of the changed commodities need to be cleared before, and the changed standards will be directly applied at the opening time on Monday!
Lot size
[This announcement is the information announced this week on 2022/8/18]
Starting from 2022/8/20, use the MT4/MT5 trading platform，Limit the maximum number of lots in an order for foreign exchange currency pairs to 50 lots, If you want to place a larger lot size, you only need to submit another order, other products are not limited to this.
Various QA's about Forex prop firm
延伸閱讀
FTMO註冊教學：【3-step teaching】 Quickly register an FTMO account!
- FTMO Trader Interview系列文章：
- How do college dropouts earn 16 times by trading only one foreign exchange currency pair! ? / FTMO Trader Interview Series 1
- Amateur forex traders earn 350 times! ? Selflessly share trading strategies! / FTMO Trader Interview Series 2
- How do college students in the Department of Economics make 11 times the profit from trading! ? Strategy and Experience Sharing | FTMO Trader Interview Series 3
Risk Warning:
Forex and Contract for Difference (CFD) margin trading carries a high level of risk and may not be suitable for everyone. The high degree of leverage can work against you as well as for you. Before deciding to trade forex and CFDs, you should carefully consider your trading objectives, level of experience, and risk appetite. You may sustain a loss of some or all of your initial investment. You should be aware of all the risks associated with forex and CFD trading, and seek advice from an independent financial advisor if you have any doubts.
Please note that before deciding to purchase any retail proprietary trading firm challenge, you should carefully consider the company's challenge trading objectives, drawdown risks, and various rules. You may lose part or all of your initial funds used to purchase the challenge account.
Some proprietary trading firms (Prop Firms) provide all accounts to clients with virtual funds in simulated accounts. All trades are conducted only in a simulated environment. For details, please refer to the announcements on the official websites of each prop firm.
Hello, I would like to ask a question: If you don't make money after passing the exam but still lose money, will FTMO refund the registration fee?
In addition, do you have a personal community account that you can track (ig or something)? After all, there are not many people who are traders in Taiwan, and the college students and friends around you have no concept of this area. I want to get to know more people and expand my horizons. It would be better if we could work together in the future!
The account balance must be positive at the end of the exam (ex. A warehouse of 10,000 must be greater than 10,000), if you do not reach the goal, you can apply for a free retake; if you pass the exam, the registration fee will be refunded after the first profit withdrawal.
If the account balance is negative at the end of the exam (ex. If 10,000 (less than 10,000), you cannot retake the exam, and the registration fee will not be refunded, which means that you have not passed the exam.
Welcome to joinTelegram group!
Hello, if you pass the exam and get 200,000 trading funds, if you touch the minimum stop loss rule or the maximum stop loss rule, will you go back to the first stage of retaking the trader? Thank you
No, if you have already passed the exam and got the real position, you will violate the maximum daily loss and total loss rules. If you violate the rules, you will lose your FTMO trader qualification, and there will be no chance to retake the exam. , You have to re-register for the exam.
Hello, would you like to ask about withdrawals? Did you mention that "if you use international wire transfer for sub-profit withdrawals, a domestic general account is fine, without a foreign currency or U.S. dollar account"? Does the domestic general account refer to the Taiwan dollar deposit account? If so, will it be converted into Taiwan dollars for import? Thank you
Yes, you can also open a foreign currency account and directly deposit into a foreign currency account.
Don't understand the 10% maximum total loss rule
If I take the normal exam, 100,000 U.S. dollars
I made 2,000 U.S. dollars on the first day
By the next day, my account had 102,000 U.S. dollars
Then you can't lose 10 for this%
It was the next day
1. Account balance remaining 90,000 (including floating loss) burst position
2. As long as you lose 10,000 U.S. dollars, there is 92,000 remaining in the account balance.
3.10% loss of 102,000, the remaining balance of the account is 91,800, and the position is exploded.
Which one is 1, 2, or 3?
Is there just 10% that will burst the position?
For example, there are 90,000 US dollars left in the account on the first day.
It's still 89999 Meicai burst out of stock
Thanks for the answer
FTMO is fixed, which is 1. Just 10% will not, and more than that will be considered a violation. But just 10% is not in line with the actual situation, and the spread and market fluctuations must be taken into account.
Hello, foreign exchange student:
Are the following two situations considered violations? ?
1.
Under an Email registered account
Passed 2 Normal Swing 100K MT4 accounts
Do not merge funds
These 2 MT4 accounts are linked to the same order in the program
Is this a violation? ?
2.
Register an account with two emails
Under each email account ,
Passed 1 Normal Swing 100K MT4 account
These 2 MT4 accounts are linked to the same order in the program
Is this a violation? ?
Whether there is a violation mainly depends on the daily maximum and total loss rules, and the two situations you mentioned should belong to different accounts of copy trade and will not violate the rules. You can also ask the official customer service for an instant answer.
Hello, Xiao Sheng! Can I confirm with you that after FTMO's Normal Swing account has no time limit, is it equivalent to only the two rules of maximum loss and daily drawdown, which caused the account to violate the rules? There are no restrictions on data trading, overnight, continuous positions, etc., right? I have always wanted to do an ftmo account. Thank you! ！
Maximum loss and daily drawdown have always been the main rules, regardless of which mode is used. Swing can only trade and hold positions according to data, please refer toDescription of the two modes of FTMO。
Is there an SL required for FTMO transactions? If there is no SL, does it violate the trading rules?
It will not be violated if it is not set.