FTMO comes across as a seasoned player in the prop firm arena with its inception dating back to September 2015. Widely recognized for its robust support system, FTMO boasts more than 4,000 Trustpilot reviews with a stellar average rating of 4.9 out of 5. This is reflective of the firm's commitment to customer satisfaction, reinforced by its 24/7 customer support. Availability of a Trading Psychologist underscores the firm’s dedication to addressing the mental challenges traders face.
FTMO's unique selling proposition includes flexible trading conditions—there is no cap on trading duration, a minimum requirement of trading for only four days, and access to 1:100 leverage. These conditions are complemented by a wide range of trading tools. Their scaling plan is particularly attractive, providing a pathway for successful traders to manage even greater capital. Moreover, the visibility of the firm's CEOs offers a transparency layer that reassures prospective traders.
The firm’s attempt to cater to a wider audience is evident with the provision of a free trial and infinite evaluation retries, which is quite generous in the competitive space of prop trading. FTMO's payment structure offers bi-weekly disbursements with an 80% to 90% profit share, which is lucrative for successful traders.
Nations Trading, established in June 2022, may lack the historical depth of its competitor but presents a compelling suite of offerings. Its standout feature is the high funding potential — traders can obtain evaluation accounts up to $250,000 with the possibility of scaling up to $1,000,000 per account. Additionally, Nations Trading allows for a broader reach in trading strategies by permitting news trading, overnight and weekend position holding—flexibilities that are coveted by many experienced traders.
The firm also shines with a generous 80% profit sharing scheme and a comprehensive set of trading instruments that affords traders the opportunity to diversify their portfolios. The clear-cut trading rules set by Nations Trading provide a structured environment that some traders may prefer to ensure discipline and adherence to risk management.
While FTMO presents a mostly positive picture, it does have its drawbacks. The educational resources provided tend to suit beginners more than experienced traders looking for advanced content. Another potential limitation for high-volume traders is the maximum of 2 accounts with a cap of $200,000 each, which may be restrictive for some.
Nations Trading is not without its cons either. Its nascent stage is reflected in the limited community feedback available, an aspect vital for building trust and credibility. Additionally, the reliance on robot-assisted live chat might not suit traders who prefer more personal customer service. The absence of a free trial may also deter those who wish to test the waters before fully committing.
Both firms enforce rules to manage risk, including maximum daily loss limits and profit targets. However, differences emerge in their approach to certain aspects of trading. FTMO forbids news trading, third-party copy trading, and the use of third-party Expert Advisors (EAs), which can be seen as restrictions to a trader’s autonomy. In contrast, Nations Trading permits news trading but takes a firmer stand against copy trading and the use of EAs altogether.
When it comes to handling finances, both firms offer popular methods for deposits and withdrawals, including crypto and credit/debit cards. FTMO has the added option of bank wire transfers for both. This could be a compelling factor for traders with a preference for traditional banking methods. Conversely, Nations Trading’s exclusivity around crypto could appeal to the modern trader comfortable with digital currencies.
FTMO offers a wide range of account sizes and denominations, catering to traders globally with options in AUD, CAD, CHF, CZK, EUR, GBP, and USD. Nations Trading, on the other hand, currently offers account sizes in USD only. This limitation could influence traders whose strategies might benefit from currency diversification or who prefer to trade in their local currencies.
Both FTMO and Nations Trading provide a broad spectrum of tradeable instruments, including commodities, crypto, forex, indices, metals, and stocks. However, FTMO takes it one step further by including bonds in its offerings. The wider array of instruments could be a determining factor for traders seeking maximum market exposure.
FTMO and Nations Trading each bring distinct advantages to the table. FTMO's established reputation, comprehensive customer support, and flexible trading conditions make it stand out for traders seeking stability and a structured growth pathway. Nations Trading, though newer, is an enticing option for those looking for higher funding levels and fewer trading restrictions.
Ultimately, the choice between FTMO and Nations Trading will boil down to individual preferences, trading styles, and the importance placed on factors such as community feedback, educational resources, and specific trading freedoms. Both firms have strengths that could serve as the foundation for a trader's success, provided their offering aligns with the trader's expectations and needs.