FTMO Suspends Challenges In The United States - Banned Countries List - FundingTraders Blog (2024)

FAQs

Is FTMO no longer accepting US customers? ›

In what appears to be related to the latest MetaQuotes crackdown on the proprietary trading landscape, prop firm FTMO has stopped onboarding US clients, Finance Magnates has learned. New traders attempting to register from a US IP address were unable to complete the registration form.

Due to business decisions based on risk management considerations, FTMO does not provide services to clients in Afghanistan, Antarctica, Antigua and Barbuda, the Republic of Belarus, Belize, Bhutan, Bouvet Island, Burundi, Cape Verde, Central African Republic, Chad, Cook Islands, Comoros, Republic of the Congo, Cuba, ...

This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case. Here is the quote from FTMO: USA update – January 2024: Since the establishment of our company, our goal has been to provide top-quality services for our clients.

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

An FTMO Account is an account with fully fictitious funds, however, with real market quotes from liquidity providers. Please note that, for FTMO Account purposes, liquidity providers do not provide us or FTMO Traders with any real money (liquidity), only with the market quotes.

So in total, one trader can have up to 5 active funded accounts with FTMO at any given time. The live funded accounts provide capital for traders to use for their trading once they pass the evaluations.

Conclusion. After a thorough analysis, it is safe to say that FTMO accounts are real and not fake. The company has a legitimate background, transparent terms and conditions, and numerous positive reviews from traders who have successfully used these accounts.

At MyFundedFX, while we strive to provide opportunities to traders worldwide, and even though we are only a Sim environment we are unable to accept traders from the following countries due to regulatory restrictions and compliance requirements: Cuba, Iran, Lebanon, Syria, North Korea, Libya, Russia, Sudan, Somalia, ...

The FTMO Challenge stage has reasonable rules, where the Profit Target is in balance with the drawdown we allow you to take. We call these rules Trading Objectives. There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite.

Is FTMO banned in the US? ›

This week, a leading prop firm, FTMO suspended the purchase of new challenges for the US market. While the prop firm still continues to accept clients from around the world, this change will impact many new prop traders in the US.

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

With FTMO, once you get to the FTMO Trader stage you can receive real rewards for your performance. You can withdraw your reward anytime between 14 to 60 days from your first trade on your FTMO Account (Profit Split). Periodically, we can allocate more balance into your FTMO Account if you're consistently profitable.

The reason for this is quite simple - capital requirements. While a broker has to have around $100,000 - $500,000 of locked capital to obtain one of the European licenses, NFA requires quite an enormous amount of capital to be able to operate in the US - 20 million dollars.

Short answer: Yes, FunderPro is still accepting US traders.

One major issue in the industry at the moment is for US-based traders.

There are a few brokers that take U.S. customers and have low spreads. They are Interactive Brokers, Oanda, FOREX.com (Gain Capital), and IG. There are only about 4 brokers to use in the U.S. and they are very similar in spreads which is not a significant reason for choosing a broker.