Aspiring traders often wonder how long it takes to become a funded trader with FTMO. With the increasing popularity of this funding program, it is important to understand the process and timeline involved in becoming an FTMO trader. In this blog post, we will delve into the details of each step and provide you with all the necessary information to help you understand the time frame for getting funded by FTMO.
How long does it take to become an FTMO Trader?
The process of becoming an FTMO trader involves three main steps - the FTMO Challenge, verification, and opening an FTMO account. Each step has its own set of requirements and timelines, which we will discuss in detail below.
Step 1 – FTMO Challenge
The first step towards becoming an FTMO trader is to pass the FTMO Challenge. This is a two-part evaluation process that tests your trading skills and risk management abilities. The challenge consists of two stages - the FTMO Challenge and the Verification stage.
Information
The FTMO Challenge requires you to trade a demo account with a starting capital of $100,000. You have 30 days to reach the profit target of 10% or $10,000. During this period, you can trade any instrument and use any trading strategy as long as you adhere to the risk management rules provided by FTMO.
Once you successfully complete the FTMO Challenge, you move on to the Verification stage. Here, you are required to trade another demo account with a starting capital of $100,000. However, this time, you have 60 days to reach the profit target of 5% or $5,000. Again, you can trade any instrument and use any trading strategy, but you must follow the risk management rules provided by FTMO.
If you pass both stages of the FTMO Challenge, you are eligible to become an FTMO trader and receive funding for a live trading account.
Time passes
The time taken to complete the FTMO Challenge and Verification stage depends on your trading strategy, risk management skills, and market conditions. Some traders may be able to complete the challenge within a few days, while others may take the full 30 days. Similarly, the Verification stage can take anywhere from a few days to the full 60 days. It is important to note that you must complete both stages within the given time frame to be eligible for funding.
Step 2 - Verify FTMO
Once you have successfully completed the FTMO Challenge and Verification stage, you need to verify your account with FTMO. This step involves submitting your personal information and documents for verification purposes.
Information
To verify your account, you will need to provide a valid government-issued ID, proof of address, and a signed copy of the FTMO Client Agreement. The verification process typically takes 1-2 business days, after which you will receive an email confirming your account has been verified.
Time passes
The time taken to verify your account with FTMO is relatively short, usually 1-2 business days. However, it is important to ensure that all the required documents are submitted correctly to avoid any delays in the verification process.
Step 3 - FTMO Account
After your account has been verified, you can proceed to open an FTMO account and start trading with real funds. This is the final step towards becoming an FTMO trader and receiving funding for your trading activities.
Information
To open an FTMO account, you will need to deposit the refundable fee of $540. This fee is fully refundable if you meet the profit target within the first two months of trading. Once your account is funded, you will have access to a live trading account with a starting capital of $100,000. You can trade any instrument and use any trading strategy, as long as you adhere to the risk management rules provided by FTMO.
Time passes
The time taken for your FTMO account to be funded depends on the payment method you choose. If you opt for a bank transfer, it may take 1-2 business days for the funds to reflect in your account. However, if you choose an online payment method, such as PayPal or Skrill, the funds will be available immediately.
How long does it take to get funded by FTMO?
Once you have successfully completed all three steps of the process, you can expect to receive funding from FTMO within 1-2 business days. This means that from the time you start the FTMO Challenge to the time you receive funding, it can take anywhere from 2-4 weeks, depending on your performance and verification process.
Conditions FTMO funds your trading
There are certain conditions that must be met for FTMO to fund your trading activities. These include:
Recommended by LinkedIn
If you meet these conditions, you can expect to receive funding from FTMO within 1-2 business days after opening your FTMO account.
I have successfully passed my FTMO Challenge, now what?
Congratulations! You have successfully completed the FTMO Challenge and Verification stage, and your account has been verified. Now, let's take a look at what happens next.
FTMO payout
Once your account has been funded, you will receive a payout of 70% of your profits every month. This means that if you make a profit of $10,000 in a month, you will receive $7,000 as your payout. The remaining 30% is kept by FTMO to cover any losses or fees.
FTMO refundable fee
As mentioned earlier, the refundable fee of $540 is fully refundable if you meet the profit target within the first two months of trading. This means that if you make a profit of $10,000 in the first two months, you will receive a full refund of the $540 fee.
Conclusion
In conclusion, the time taken to get funded by FTMO depends on various factors such as your trading strategy, risk management skills, and market conditions. On average, it can take anywhere from 2-4 weeks from the start of the FTMO Challenge to receiving funding. However, it is important to note that this timeline may vary for each individual. It is crucial to follow the rules and guidelines provided by FTMO to increase your chances of passing the challenge and getting funded in a timely manner. We hope this blog post has provided you with all the necessary information to understand the process and timeline involved in becoming an FTMO trader.
Read more
Top 10 best Forex Prop Firms in US
Top best instant funding forex prop firm
How Do Prop Firms Make Money?
How to get a prop firm account
