- Access to capital as much as $1,024,000
- Regular bi-weekly disbursements
- Both overnight and weekend holdings permitted
- Trading during news events sanctioned
- Comprehensive trading strategies embraced (e.g., EA’s, indicators, hedging, copy trading, etc.)
- Broad spectrum of trading tools available (inclusive of all forex pairs, commodities, and indices)
FTMO
- Over 4k Trustpilot reviews at 4.9/5 with exceptional 24/7 customer support.
- Trading Psychologist available, scaling plan, and CEO's public visibility.
- Free trial, infinite evaluation retries, and bi-weekly payments at 80%-90% profit.
- Flexible trading: no cap on duration, minimum 4 days, 1:100 leverage, and diverse tools.
Cons ❌
BuoyTrade
- Leverage restricted to 1:20
- Absence of a complimentary trial
FTMO
- Educational videos suit beginners more
- Maximum of 2 accounts at $200,000 each
Rules 📋
BuoyTrade
Maximum Loss, Minimum Trading Days, Profit Target
FTMO
Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No News Trading, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
When selecting a proprietary trading firm, retail traders must scrutinize the opportunities and restrictions each firm offers. BuoyTrade provides traders access to significant capital, up to $1,024,000, and embraces a wide range of trading strategies. The firm's flexibility is further demonstrated by allowing overnight and weekend holdings and trading during volatile news events. In contrast, FTMO has built a stellar reputation, reflected by numerous Trustpilot reviews and the availability of 24/7 customer support. Their inclusion of a trading psychologist and a transparent scaling plan also sets them apart, offering unique support avenues for traders.
Capital Growth and Payment Structure
The disbursement model employed by BuoyTrade offers regular bi-weekly payments that may appeal to those looking for consistent payment intervals. FTMO aligns with this by also providing bi-weekly disbursements, but with a profit share of 80%-90%, thus allowing traders to retain a considerable portion of profits earned.
Trading Style Adaptability
BuoyTrade stands out for its comprehensive acceptance of various trading styles, including the use of Expert Advisors (EAs), indicators, hedging, and copy trading. FTMO also offers a flexible approach but places limits on some practices, such as news trading and third-party risk management involving copy trading and EAs. These restrictions can influence traders who specialize in these areas.
Rules and Regulations
It is important to note that both BuoyTrade and FTMO have established critical trading rules. While BuoyTrade implements a Maximum Loss and Minimum Trading Days policy alongside a Profit Target, FTMO adds a Maximum Daily Loss rule and prohibits news trading. Traders must weigh these rules according to their trading preferences.
Funding and Withdrawal Methods
Both firms support transactions in crypto and offer credit/debit card options for deposits. However, BuoyTrade adds an alternative in PayPal for withdrawals, which could entice traders who appreciate that convenience. FTMO, on the other hand, confirms its established nature by offering bank wire transfers, a typically secure and traditional option preferred by many.
Account Offerings and Currencies
Comparing the account sizes, BuoyTrade offers packages running from $1,000 to $16,000, spearheading accessibility for traders with various capital requirements. FTMO, interestingly, opens the avenue to different account currencies, including AUD, CAD, CHF, CZK, EUR, GBP, and USD, which can be an essential factor for traders considering currency risk.
Instrument Diversity
FTMO leads with a broader selection of tradeable instruments that cover bonds, cryptocurrencies, metals, and stocks, in addition to commodities, forex, and indices. This breadth of options provides a plethora of trading opportunities fit for diverse trading portfolios.
Experience and Trust
The inception dates of the two firms, with BuoyTrade being newer to the scene as of February 2021 and FTMO's establishment occurring in September 2015, might influence user trust. Longevity in the industry can signify stability and reliability which, for FTMO, is further bolstered by their public CEO and substantial third-party reviews.
In summary, potential users must evaluate each firm's offerings against their own trading styles and requirements. Retail traders looking for a supportive environment backed by a significant number of positive reviews may lean towards FTMO, while those valuing high capital access and fewer trading restrictions may find BuoyTrade more compelling.
