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๐ How We Review Prop Firms: CoinCodeCap evaluates prop trading firms across five weighted criteria: Payout Reliability (35%), Evaluation Fairness (25%), Pricing Value (20%), Platform & Tools (10%), and Support & Transparency (10%). We research payout histories, Trustpilot reviews, community feedback, and official rule documentation before scoring. All facts are verified against primary sources at time of publication.
FTMO has paid out over $500 million to funded traders across 140+ countries since 2015. That’s not a marketing claim โ it’s the most verifiable payout track record in the prop firm industry. But the real question isn’t whether FTMO pays. It’s whether its strict evaluation rules, non-trivial challenge fees, and 2025 risk-per-trade cap suit your trading style.
โก TL;DR โ FTMO
FTMO is the gold standard of prop trading firms โ founded 2015 in Prague, $500M+ paid out, 4.8/5 Trustpilot from 25,000+ reviews. Two-step evaluation with no time limit and fees refunded after your first payout.
- ๐ Founded: 2015, Prague, Czech Republic
- ๐ฐ Pricing: $183โ$1,080 challenge fee (refunded after first payout)
- ๐ Account Sizes: $10Kโ$200K ยท up to $2M via scaling plan
- ๐ธ Profit Split: Up to 90% (starts at 80%, scales over time)
- ๐ Trustpilot: 4.8/5 โ 25,000+ reviews
- ๐บ๐ธ US Access: Now available via OANDA acquisition (Dec 2025) โ 5 states excluded
- โ ๏ธ 2025 Rule: New 0.5โ1% risk-per-trade cap affects aggressive traders
- โ Best For: Disciplined traders who prioritize payout certainty and brand reputation
- Key Takeaway 1: $500M+ verified payouts and 4.8/5 Trustpilot make FTMO the most trusted prop firm globally.
- Key Takeaway 2: No time limit on Challenge or Verification โ pass at your own pace, minimum 4 trading days each.
- Key Takeaway 3: Challenge fees ($183โ$1,080) are fully refunded after your first profit payout.
- Key Takeaway 4: FTMO acquired OANDA in December 2025 โ US traders now have full access (5 states excluded).
- Key Takeaway 5: New 0.5โ1% risk-per-trade rule introduced in 2025 โ limits aggressive position sizing strategies.
Table of Contents
FTMO at a Glance
| ๐ Feature | Details |
|---|---|
| โญ CoinCodeCap Rating | 4.5 / 5 |
| Founded | 2015, Prague, Czech Republic |
| Best For | Disciplined traders who prioritize payout certainty and brand trust |
| Account Sizes | $10K ยท $25K ยท $50K ยท $100K ยท $200K |
| Evaluation Type | 2-Step (Challenge + Verification) ยท 1-Step also available |
| Profit Split | Up to 90% (starts at 80%, scales to 90%) |
| Challenge Fee | $183โ$1,080 ยท refunded after first payout |
| Time Limit | โ None โ unlimited time on both phases |
| Scaling Cap | Up to $2,000,000 via scaling plan |
| Trustpilot | 4.8 / 5 โ 25,000+ reviews |
| Total Payouts | $500M+ paid to traders |
| Countries | 140+ (US included since Aug 2025, 5 states excluded) |
| EA / Bot Trading | โ Allowed under specific conditions |
| News Trading | โ ๏ธ Restricted โ no trades within 2 min of high-impact news |
| Regulated | โ Not a licensed broker or financial regulator |
| ๐ Start FTMO Free Trial โ No Credit Card Required โ | |
โก Bottom Line (Up Top): FTMO is the safest choice for traders who can handle strict rules. Challenge fees run $183โ$1,080, not cheap, but the refund policy, $500M+ payout track record, and 4.8/5 Trustpilot rating make it the most credible option in the industry. The OANDA acquisition opened up US access in 2025. Skip FTMO if you trade aggressively, rely on news trading, or want the cheapest evaluation available.
What Is FTMO?
FTMO (Funded Trader Management Organization) is a proprietary trading firm founded in 2015 in Prague by Marek Vaลกรญฤek and Otakar ล uffner. It pioneered the modern prop firm challenge model โ pay a fee, pass a skills evaluation, trade a funded account, keep a share of the profits. Virtually every prop firm launched since 2018 copied this structure.
FTMO operates with 300+ staff, a verified Prague office, and a payout track record going back nearly a decade. In December 2025, FTMO completed the acquisition of OANDA โ one of the world’s largest retail forex brokers โ bringing US traders into the FTMO ecosystem for the first time. OANDA Prop Trader clients migrate to FTMO by March 31, 2026.
How the FTMO Evaluation Works
FTMO uses a two-step evaluation that separates consistent traders from gamblers. Step 1 (Challenge) requires hitting a 10% profit target while staying within a 5% daily loss limit and 10% overall loss limit. Step 2 (Verification) repeats with a 5% profit target and the same loss rules. Pass both, and you receive an FTMO Trader account with real profit splits.
No time limit applies to either phase โ one of FTMO’s biggest advantages over firms with 30-day or 60-day deadlines. The minimum is 4 trading days per phase. A 1-Step Challenge is also available for traders who want a single harder phase with no Verification requirement.
| Phase | Profit Target | Max Daily Loss | Max Overall Loss | Time Limit | Min Days |
|---|---|---|---|---|---|
| Step 1 โ Challenge | 10% | 5% | 10% | None | 4 |
| Step 2 โ Verification | 5% | 5% | 10% | None | 4 |
| FTMO Trader (Funded) | โ | 5% | 10% | None | โ |
โก Expert Tip: The unlimited time limit is FTMO’s most underrated feature. Most traders fail by rushing โ not because their strategy fails, but because a self-imposed deadline forces bad trades. There’s no rule saying you must pass in 30 days. Trade your edge, ignore the calendar.
FTMO Pricing and Challenge Fees
| Account Size | Standard Fee | Aggressive Fee | Refunded? |
|---|---|---|---|
| $10,000 | ~$183 (โฌ155) | ~$295 | โ After first payout |
| $25,000 | ~$335 (โฌ283) | ~$535 | โ After first payout |
| $50,000 | ~$545 (โฌ460) | ~$875 | โ After first payout |
| $100,000 | ~$1,080 (โฌ910) | ~$1,750 | โ After first payout |
| $200,000 | Contact FTMO | Contact FTMO | โ After first payout |
Challenge fees are fully refunded with your first profit payout โ a successful trader effectively pays nothing to get funded. If you fail, the fee is lost. FTMO runs occasional promotions with discounted pricing โ always verify current fees on FTMO’s official site, as amounts vary by region and change frequently.
Profit Split and Scaling Plan
Funded traders start at an 80% profit split, scalable to 90% through FTMO’s scaling plan. Every 4 months, if you achieve 10%+ profit and keep at least 50% of months profitable, your account balance grows by 25%. The plan scales up to $2,000,000 in total allocated capital โ the highest ceiling of any major prop firm. First payout is available 14 days after your first trade, then every two weeks after that.
Key Rules and Restrictions
| Rule | Details | Impact Level |
|---|---|---|
| News Trading | No open trades within 2 min before/after high-impact events | Medium |
| Weekend Holding | Not allowed (Swing accounts excepted) | Medium |
| EA / Bot Trading | Allowed under specific conditions โ no copy trading, no exploits | Low |
| Risk Per Trade (2025) | New: 0.5โ1% max risk per trade | High for aggressive traders |
| Min Trading Days | 4 days per evaluation phase | Low |
| Daily Loss Limit | 5% of account balance | High โ most common fail point |
| Max Overall Loss | 10% of account balance | High |
โ ๏ธ 2025 Rule Change: FTMO introduced a 0.5โ1% risk-per-trade cap in 2025. Traders who previously sized positions at 3โ5% risk per trade must restructure their approach or risk violations. This rule specifically targets martingale-style and high-concentration strategies. If your edge requires larger per-trade exposure, FTMO may not be the right fit.
FTMO for US Traders
FTMO historically excluded US residents. That changed in August 2025 through a simulated trading partnership with OANDA, and became permanent when FTMO acquired OANDA outright in December 2025. Five states remain excluded: South Carolina, Arkansas, Montana, Louisiana, and Delaware. US traders need a valid Tax Identification Number and a completed IRS Form W-9 to receive their first payout.
How We Rate FTMO
| Criteria | Weight | Score | Notes |
|---|---|---|---|
| Payout Reliability | 35% | 5.0 / 5 | $500M+ paid, 4.8/5 Trustpilot, fee refund on success. Best track record in the industry. |
| Evaluation Fairness | 25% | 4.0 / 5 | No time limit is excellent. New 0.5โ1% risk/trade rule restricts aggressive traders. |
| Pricing Value | 20% | 3.5 / 5 | Fees refunded on success, but $183โ$1,080 upfront is expensive vs. newer firms at $99. |
| Platform & Tools | 10% | 4.5 / 5 | Proprietary FTMO apps, MetaTrader support, Account MetriX analytics dashboard. |
| Support & Transparency | 10% | 4.5 / 5 | 24/7 support, 20 languages, clearly documented rules, active trader community. |
| Overall: 4.5 / 5 | |||
Pros and Cons
| โ Pros | โ Cons |
|---|---|
|
|
FTMO vs Topstep vs FundedNext vs The5ers
| Feature | FTMO | Topstep | FundedNext | The5ers |
|---|---|---|---|---|
| Founded | 2015 | 2012 | 2022 | 2016 |
| Eval Steps | 2-step (or 1-step) | 1-step | 1 or 2-step | 1-step |
| Account Sizes | $10Kโ$200K | $50Kโ$150K | $6Kโ$200K | $6Kโ$100K |
| Max Profit Split | 90% | 90% | 95% | 100% |
| Scaling Cap | $2,000,000 | Not disclosed | $4,000,000 | $4,000,000 |
| Time Limit | None | None | None | None |
| News Trading | โ ๏ธ Restricted | โ Allowed | โ Allowed | โ Allowed |
| Trustpilot | 4.8 / 5 | 3.4 / 5 | 4.7 / 5 | 4.9 / 5 |
| Total Paid Out | $500M+ | Not disclosed | $144M+ (2025) | Not disclosed |
| US Traders | โ (excl. 5 states) | โ | โ | โ |
| Fee Refund | โ After first payout | โ ๏ธ Activation fee applies | โ | โ |
| Starting Fee | ~$183 | $49/mo subscription | ~$99 | ~$95 |
Who Should Use FTMO?
FTMO suits you if: You want the most credible prop firm with the longest verified payout history. You trade at a consistent pace and work within strict daily loss limits. You want unlimited time to pass โ no deadline pressure. You plan to scale to $1M+ in funded capital over time. You use EAs or bots within FTMO’s permitted parameters.
Look elsewhere if: You size positions at 3โ5% risk per trade (the 2025 rule will conflict with your approach). You trade news events actively without restriction (try FundedNext or The5ers). You want the cheapest evaluation for practice runs (FTMO’s $183+ fee is expensive to fail repeatedly). You trade futures only (use Topstep).
โก Bottom Line: FTMO remains the gold standard of prop trading firms in 2026. The $500M+ payout track record, 4.8/5 Trustpilot from 25,000+ traders, fee refund policy, and no time limit combine to make it the most credible option in the industry. The new 0.5โ1% risk-per-trade rule and strict news trading restrictions are real drawbacks for aggressive traders. For disciplined, rules-following traders who want reliability over cheap fees, FTMO belongs at the top of the list.
๐ Reviewed by the CoinCodeCap Editorial Team โ Our prop firm reviews are researched and written by analysts with direct experience evaluating funded trading programs, payout structures, and challenge rule sets across 20+ firms. All scores and comparisons are updated quarterly or when firms announce material changes.
FAQs
Is FTMO legit?
Yes. FTMO has paid $500M+ to traders across 140+ countries since 2015, holds a 4.8/5 Trustpilot rating from 25,000+ verified reviews, and operates a real 300+ person team in Prague. It is not regulated as a financial broker, but its track record and transparency are unmatched in the prop industry.
How much does the FTMO Challenge cost?
Standard Challenge fees range from ~$183 ($10K account) to ~$1,080 ($100K account). All fees are refunded with your first profit payout after passing both phases. Aggressive account variants cost more. Fees vary by region โ always confirm the current amount on FTMO’s official site before purchasing.
Can US traders use FTMO?
Yes, since August 2025 via the OANDA partnership, formalized when FTMO acquired OANDA in December 2025. Five states remain excluded: South Carolina, Arkansas, Montana, Louisiana, and Delaware. US traders must provide a Tax Identification Number and IRS Form W-9 to receive payouts.
What is FTMO’s profit split?
Funded traders start at 80% and can reach 90% through the scaling plan โ 25% account balance increase every 4 months when you achieve 10%+ profit with 50%+ of months profitable. Maximum scaling cap is $2,000,000 in allocated capital.
Is there a time limit on the FTMO Challenge?
No. Both the Challenge and Verification phases have unlimited time โ you can take as long as you need, provided the account stays within loss limits and remains active. The only time-based requirement is a minimum of 4 trading days per phase.
What is the new 2025 FTMO risk-per-trade rule?
FTMO introduced a 0.5โ1% maximum risk-per-trade cap in 2025, limiting how much of your account balance you can risk on a single trade. Traders who previously used 3โ5% risk per trade must restructure their approach. The rule targets martingale and high-concentration strategies. Consistent, lower-risk traders are largely unaffected.
Related articles: Topstep Review | FundedNext Review | The5ers Review | Apex Trader Funding Review
