- 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.
The Funded Trader
- $600,000 standard balance, four funding options
- 1:200 leverage with 80-90% profit splits
- Stellar 4.7/5 Trustpilot from 5k reviews
- Unlimited free evaluation retries
- Scaling up to $1,500,000; overnight and news trading allowed
- Comprehensive trading tools including forex and cryptocurrencies.
Cons ❌
FTMO
- Educational videos suit beginners more
- Maximum of 2 accounts at $200,000 each
The Funded Trader
- No free trial (as of now)
- Customer support, while trustworthy, is slow
- Trailing drawdown (in Knight's challenge)
Rules 📋
FTMO
Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No News Trading, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
The Funded Trader
Lot Size Limit, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No EAs Allowed, No Martingale Allowed, Profit Target, Third Party Copy Trading Risk
FTMO and The Funded Trader are well-known proprietary trading firms that offer unique opportunities for retail traders to leverage their trading skills without risking their capital. Through a variety of evaluation tests and challenges, these firms assess the trading proficiency of potential traders and eventually offer a funded account with the promise of shared profits. This comparison aims to lay out the features, rules, strengths, and weaknesses of each firm to assist traders in making an informed decision.
FTMO: The Veteran Prop Firm with a Global Reach
FTMO has become a bellwether in the prop trading arena since its inception in September 2015. The platform enjoys exceptional credibility with traders worldwide, boasting a high satisfaction rate evidenced by over 4,000 Trustpilot reviews, averaging a stellar 4.9 out of 5. Its suite of offerings includes access to a trading psychologist and a scaling plan, augmenting the appeal for serious traders. Flexible trading conditions, bi-weekly payments, and a range of account sizes and instruments add to its allure.
However, FTMO’s educational content may be more beneficial for beginners than advanced traders. Furthermore, the cap on account sizes at $200,000 for each of two accounts may not appeal to those desiring higher capital allocation.
The Funded Trader: A Rapidly Rising Competitor
The Funded Trader, established in May 2021, quickly made its mark with aggressive offerings including up to $600,000 in standard balance and a high leverage of 1:200. With equally impressive Trustpilot ratings at 4.7 out of 5, the firm showcases confidence in its services. A distinctive feature is the provision to scale up to $1,500,000, underlining a commitment to supporting trader growth. The allowance of overnight and news trading reflects an understanding of diverse trading strategies.
Despite its progressive stance, The Funded Trader lacks a free trial, potentially deterring those interested in testing the waters before committing. Also, while customer support is deemed reliable, reports suggest slower response times compared to industry leaders like FTMO.
Comparing Account Options and Trading Conditions
FTMO offers a multitude of account sizes ranging widely from $10,000 to $200,000 and in multiple currencies, catering to an international community. Trading conditions enforce disciplines such as maximum loss limits, but also allow for flexibility with no caps on trading duration and a leverage of up to 1:100.
The Funded Trader, exclusively offering USD accounts, empowers traders with higher leverage at 1:200 and conveniences such as unlimited evaluation retries. However, restrictions including lot size limits and bans on EAs and Martingale strategies indicate a structured and risk-conscious framework.
Funding and Profit Distribution
Both firms support crypto transactions, reflecting their modern financial ethos. FTMO adopts traditional methods like bank and wire transfers for deposits and withdrawals, which may be seen as more trustworthy by certain clients. Conversely, The Funded Trader's alliance with Deel for withdrawals represents its innovative streak.
Profit splits are competitive, with both firms offering ranges between 80%-90%, determined by account types and trader performance. FTMO’s bi-weekly payouts may appeal to those seeking regular income streams.
Instrument Coverage and Trading Support
FTMO stands out with an extensive list of tradeable instruments, encompassing not just the common forex, commodities, and indices, but also bonds, metals, stocks, and crypto. On the other hand, The Funded Trader primarily focuses on commodities, crypto, forex, and indices.
Final Thoughts for Retail Traders and Potential Users
In conclusion, FTMO and The Funded Trader each have their merits, with FTMO offering more diversity in account sizes, currencies, and instruments. It caters well to traders who value solid educational support, regular payouts, and a tried and tested framework. The Funded Trader, while newer, speaks to those seeking higher leverage, aggressive capital scaling, and fewer restrictions on trading styles.
Traders must weigh their individual needs against the offerings of each firm. Factors like trading style adherence, account size preference, and the level of customer service expected are paramount to this decision. Both FTMO and The Funded Trader represent different philosophies in the prop trading industry, and it is up to the individual trader to align with the one that best enhances their trading journey.
