Ftmo answers reddit. 256/2004 Coll. ye japan taxes 20. but im assuming how that works if i were to work and make a profit (hypothetically) from an overseas companie like FTMO, i wonder if the same rules apply if You back test a trading strategy, including firm money and risk management, until you can execute without emotion and maintain a positive expectancy. You're using 8. Plus they don't have the FTMO restrictions of trading during news or holding over the weekend which will benefit swing traders. I have passed the initial challenge and I am currently trying for the verification phase. Was surprised when the transfer hit my account wasn’t expecting it, but it’s legit. I blew two of them after just one payout from each, and one of them I couldn't make a profit before losing it eventually. Doing well maxed my funding on FTMO, I see that as a bank now lmao, currently doing the prop firm challenge and using a trade copier to mirror my entries onto my ftmo accounts, and US30 only I made the switch to this around 6 months ago Welcome to FXGears. FTMO is legit but definitely avoid non reputable too good to be true prop firms and look at the broker they use too…that doesn’t mean I haven’t ‘wasted’ literally thousands upon thousands on challenges with ftmo. Become our next FTMO Trader and work with an initial balance of up to $200,000: https://ftmo. Your starting account of $100k now sits at $101k as you've chosen to keep most of your profits in the account. If you watch some ftmo interviews on YouTube you will easily notice how little experienced are some of the guests. I still think FTMO is a great short term idea. I have gotten funded three times with FTMO before but this is the longest it took for me to pass the challenge this time around. 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. Welcome to r/InnerCircleTraders, the largest ICT community on reddit! This community serves as a dedicated space where ICT's followers can connect, discuss, and learn from each other. You have to be profitable to be able to make money on their When analyzing my trading style FTMO seemed like it was the best fit for me hence why I trade with them now. Welcome to FXGears. So if you are up 30k TODAY you can drawdown Edit: I just got the scripted answer from their live chat that it's 1-2 days after the payment is processed. Same here. . FTMO’s model is very innovative though … once having passed the Challenge and Verification test phases and having become eligible to participate on the FTMO platform, the so-called FTMO ‘trader’ basically just plays an electronic game of simulated trading with virtual funds As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. Then you have to complete the challenge where you have to make 10% in one month while adhering to their drawdown conditions. Doesn't matter who you choose, FTMO, MFF, The Funded Trader, 5%ers, Topstep. Hello, good day everyone. Passed FTMO Trial in 2 days (Happy to share tips!) i shorted a downmove and got lucky over 7 trades. 5-1. Showing consistent results on 3 challenges (6 diff accounts) on FTMO: - RRR of 1. I went to my bank and they told me that they have no information to give since they're not the senders. 8 - Win rate of 55-60%. 75 LOTS on some of these. If i do not violate any of the trading objectives and end up in the positive consodering my account gain, I am eligible for a free re-try according to FTMO's FAQ. For example, a U. Got to give it to FTMO. It's a huge improvement for day traders at least. com Interview with our FTMO Trader Nikita: • This trader made How has passing the FTMO Challenge and Verification changed your life? I'm now able to trade 40k euros, so the undercapitalization problem is immediately solved, knowing that I can potentially earn my country's average monthly wage with a single trade. 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. Yes, from my review of the same question, I believe US persons or entities can participate on the FTMO platform. Find a strategy that suits you, stick to it, back test it long enough to gain confidence, and just focus on executing the trades over and over again. S. - To be with other like-minded forex traders. Guilty of doing news releases too hahaha and for what it’s worth it says here “Please note again, these restrictions on trading during the restricted news events do not apply to FTMO Challenge or Verification accounts. That will depend on you. The best prop firm besides FTMO AID The Funded Trader In my option. Our goal is to help Redditors get answers to questions about Fidelity products and services, money movement, transfers, trading and more. Do you have 1 year of profits ( there are weak months and strong ones but its about your balance at the end of the year)- Can that profit, after tax, make you life better than your salary? With FTMO, to get your 70% profit share, you have to invoice them, which I would do from my LLC (once I create it). Press ctrl+m in MT5 and rightclick on the table. The real question is do YOU have a consistent and profitable method? That is the real question. If FTMO would disclose data, I think most challenges are passed using 1 to 2 trades risking 5% to 10%. Reply reply 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 The answer is commission paid, but it doesn't matter. Let's say you've been trading with FTMO for a year. FTMO does have some downsides though the biggest being the news restrictions. If you can make 10% on FTMO for 5 months, on your private account you will have: Month 0: 100$ 1: 200$ 2. And crucially the most competitive aspect is Funding Talent's 80/20 profit split vs. In FTMO, the maximum daily drawdown limit allowed on a $100K account is 5% which is $5,000. 400$ 3. 49 votes, 54 comments. With FTMO I’m fairly certain there are restrictions on certain news evens across relative pairs. o. does not provide any of the investment services listed in the Capital Market Undertakings Act No. For swing traders, it's a great improvement too once they actually get the funded account. 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. 5k Hey guys, I am currently doing an FTMO Challenge. For you information, our FTMO trader will review your trading style after your verification; please know that we are not looking for traders who use very high lot sizes on single trades just to make profits and risk their accounts. But for the challenge, they're faced with the same problem as before. 3200$ 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. It baffles me that someone can achieve a 93% win rate and still complain. Hey guys I didn't break any rules in FTMO so the first day I lost 450, and today -470 on a 10k account I'm currently 9/030 will I get a free retake… So this how the first FTMO payout went. ” So you could do news if you wanted to just to pass the challenge and get your funded account but then going forward you 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 Hey everyone, looking at the FTMO leaderboards, I see people getting these insane returns, is it a one month lucky type of thing, or are they genuinely putting in the hard work and are consistent? Sorry OP but that's a dumb question. I’ve hopefully learnt something from all the pain however. Im currently doing the challenge myself. FTMO Evaluation Global s. You can lose 10% on FTMO with 10% target, so you have to double your account. We kindly remind all members to adhere to our community guidelines, help us maintain a friendly and inclusive environment where traders of all backgrounds can I literally pulled example numbers out of my ass. -Share FUNNY Trading So it's been a while that I know FTMO, signed up with them at the end of 2019 not long after it launched, but failed the tests (2 100k acc tests), I then switched to trading cryptos (on personal accounts) and been quite profitable with that, and more importantly learned to trade better! I passed, focusing on my risk management, not profit. If you are as well, you have your FTMO app that shows your daily allowed drawdown. Based on that knowledge and my own experience, seems like it's 1 business day after profit split day to get the invoice, 1-2 days for them to review and process the invoice and payment, and another 1-2 days after the payment processes to The issue here is that you see all the 'success' stories and no failure stories. 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 FTMO Challenge is the first step of Evaluation Process and educates you to master your trading habits. Then tick "spread" in "columns". com, a trading forum run by professional traders. FTMO is legit, and I assume they have a lot of very successful traders. I'm by no means bragging, I'm simply stating that FTMO is worth it and anything worth doing is hard. depends on three things: Do you have savings to survive 1 year if trading fails you. I am in the process of starting a LTD company in the U. Any Canadians with FTMO that can help? I was expecting a profit split from FTMO via bank wire, but apparently my bank canceled the transaction(per FTMO's email). Let me rephrase the question since you're so triggered, then maybe you can answer the question. r. You'll learn so much more about yourself and your trading style and gain real time experience. its just a shame because the costs are tiny compared to expected profits so i would lose a significant amount to the 20% VAT. I say that because they have great customer service, cheaper prices than FTMO, great community and the owner engages with the the traders and does give a ways and discounts very often. 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. 1M subscribers in the Daytrading community. thanks for the comment, i do believe that to be true as i heard in a video somewhere. 3. FTMO's 70/30. AMA. There is no right answer for length of time. Hello how do the Daily drawn down works FTMO,somone told me it works like this: Let's say I got 10k account fresh one I placed a trade and I'm in profit 500$ and let's say the trade is goin and something happend and I'm back -500 and 10k at the same trade did I lost my account becouse it's 500- ? As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. /FTMO Evaluation US s. - No challenge was done in a day or a single lucky trade, all trade has clear risk and SL. Damn thinking back I was smart af. news announcement would carry certain rules around trading the event. i suppose the only thing to do would be to spend more and claim back more. FTMO gives a short time to make 10% profit, which means that traders are forced to trade aggressively and implicitly increase the risk of losing and by this they have their future insured for FTMO because they live off the money of those who lose their fees when they buy a challenge. 315% from anything related to profit taken from derivatives. I've been trading for about a year now and have been consistently profitable over roughly 1000 trades (I have my Oanda stats to back me up). In the other note I believe in every single one y’all who are trying to make a change. Now, my hypotesis are 3: They are really professional traders (very unlikel, maybe 1 out of 1000). Real fuking hard. Today's article will be devoted to finding the answers to the several most frequent topics our support colleagues get asked about. In case the situation develops differently, everyone will be informed accordingly. Lastly, 10 - 12%, manually/discretionary trading, is very difficult, though possible. 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. Ftmo is a scam Funding Talent's challenge requirements are 8% for the first phase then 4% for verification whereas FTMO is 10% then 5%. You can achieve an equal amount of profit from just $10,000 account with own money, taking almost 40% floating DD ($4000), instead of <5% realized DD in FTMO. K. Trying too hard and studying too hard has diminishing returns and is counterproductive. The current situation is not impacting payouts or other services that we provide to our existing clients. Trust the process and don’t give up. If something still seems unclear even after reading the article, feel free to explore the FAQ section of our website as the answer is likely ready for you there. You initially pay for a challenge account. Just remember less than 10% of people pass their challenges, and if that about 2% actually take any profits whatsoever ¯(ツ)/¯ if you’re rocking through even 10 challenges for one payout that MIGHT get you to break even it is an indication this is probably a waste of your time. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local laws or regulations. 1600$ 5. Especially since my average holding time is 12 days. 216K views 4 years ago. I have provided FTMO: my full name and address, account #, SWIFT code Another point to note is that trading with own money is always better and profitable in long term. (1% of risk per trade with 66% win rate) FTMO rules are far laxed compared to the firm I work for now but l manage a far bigger book and obtain bonuses and payouts. Or setup another company and charge that for a service then 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. The max daily loss is the thing you need to watch out for. I suggest doing this in demo and then a real account before FTMO. Since the application process itself is often nothing short of herculean and time-consuming to boot, this place is meant to serve as a talking ground to answer questions, better improve applications, and increase one's chance of being 'Referred'. for the purposes of receiving trading income from FTMO. Ftmo support answer: We plan to honour all our commitments to our clients. For an intraday trader though, I agree FTMO is probably a better fit since you'll be able to make better use of the free resets. You don't get his logic, because you apply the same rules to a private account. Of all the prop firms, FTMO is slightly better, since they don't put a cap on the maximum trades we can open, offer a 1:100 leverage, allows hedging and any strategy we like. 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. But like any challenge its still a gample on your part since a drawdown could have easily taken you out of the challenge. Basically it is 5%, or 5000 on a 100k challenge, a day and increases with your profits ON THAT DAY ONLY. 1K. As an official Fidelity customer care channel, our community is the best way to get help on Reddit with your questions about investing with Fidelity – directly from Fidelity Associates. So please if you don't have a LTD company for trading or are not from the UK, then this question is not for you. Hoping to find an answer here cause somehow I cannot find one anywhere. There's no time limit, so you can tweak and adjust along the way to get getting funded. Daytrading futures, forex, stocks, etc. TL;DR: Your FTMO app shows your daily allowed DD after every new trade. Swing traders can go through a multi-month drawdown even with a profitable strategy, b Though that FTMO extension is sweet, unlimited time limits, small targets, and faster scaling are sweeter for my strategy. Well I couldn’t wait and got the answer, they said “yes technically you can. It is nothing. Took alot of shit from other people. There are 4 different challenge accounts you can pay for: $10,000, $25,000, $50,000, and $100,000. I should add I have also passed a few times too with them. You need to demonstrate your experience by sticking to Maximum Loss Rules while making the necessary simulated profits of 10% of initial balance. The true advantage about FTMO is that when you passed the test, you get the refund so it didnt cost you at the end. Now we can trade through high impact news and hold runners over the weekend if we want. if i were to file tax report here from the profits i get from local broker, the japanese broker will generate an annual report for me to use it for tax filing. Answer: Trust the process! The journey isn't going to be smooth sailing in the beginning but the rewards will come soon enough. 800$ 4. However, it is not a good idea in long-term. 4. That gives you an easy overview over the spread on different pairs. This subreddit is a place where high income professionals of all types can ask, answer, discuss, and debate the personal finance and investing questions specific to our unique situations without being criticized, ostracized, or downvoted simply for having a high income and "first world" problems. iejq xpvwp gmupz hwx lzlsv bmyyl oer wjh wiwv nzcesu