Can US traders use FTMO?
Please note that FTMO does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.
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.
You can trade your FTMO Challenge, Verification, and FTMO Account on some of the most popular retail platforms – MetaTrader 4, MetaTrader 5, DXtrade, or cTrader.
MetaTrader is the most widely used program among forex traders, and that applies to FTMO traders as well. The program's environment is intuitive and straightforward, however, its modifiability gives modders space to make it even better and user-friendly.
FundedNext temporarily paused new sign-ups from the United States (US) reflecting our commitment to upholding regulatory requirements and industry standards while maintaining platform integrity. All existing US clients will remain unaffected by these circ*mstances.
Please note that FTMO does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.
The legality of Prop firms has been a topic of debate. Regulations like the Volcker Rule and the Dodd-Frank Wall Street Reform and Consumer Protection Act have made it more difficult for banks to engage in proprietary trading.
The restriction is only valid for two minutes before and after the news announcement and applies to the instrument or currency selected, and trading within this window may be considered a violation of the FTMO Account Agreement.
No limits on trading style! Trade your own trading strategy with no limits or restrictions. You can use EAs, hedging or trade discretionary. Forex, Commodities, Indices, Crypto, Stocks.
Trading. Over the year, we have created more than 960,000 trading accounts through our platform for you. This total includes all FTMO Challenges, Verifications, FTMO Accounts, and Free Trials. More than 90,000,000 trades were executed on all accounts in 2021, indicating a reasonably active approach to trading.
Does FTMO allow TradingView?
In addition to the most popular trading applications offered by FTMO to its clients, the TradingView website, which is also very popular among traders, offers an interesting analytical service.
Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million. We've also been featured in Forbes and awarded by Deloitte and EY multiple times.
Yes, there are many sites offering similar services to FTMO. These include FunderPro, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.
Funder Trading stands first in our list of the top prop trading firms in 2024 due to multiple reasons but notably it is the only prop trading firm that offers options funding and includes coaching for every trader signed up.
OANDA, Axi, and Hantec Markets are three regulated forex and contracts for differences brokers that launched prop trading services.
cTrader via Voyage Markets: Restricted to only clients outside of the United States. DXtrade via Voyage Markets: For more information on the platform, please read this article.
Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).
US residents can trade Forex. Before we move on any further, it is vital to state that Forex trading in the US is not prohibited. A trader from the US can trade FX online as easily as a person living in Europe or Australia. However, the main difference lays in the variety of brokers a trader can choose from.
Prop trading firms have been shutting down or suspending their services, particularly to U.S.-based clients, because of a crackdown from MetaQuotes, the company behind the popular MetaTrader trading platforms.
FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.
How do I become a prop trader in USA?
To become a proprietary trader, earn a bachelor's degree in finance, business, or mathematics. Complete at least one internship with a trading firm to learn about the finance industry and make professional connections. Apply for an entry-level proprietary trader role.
- Axi Select.
- FTMO.
- The Forex Funder.
- E8 Markets.
- True Forex Funds.
- The 5%ers.
- Funded Next.
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.
There is no time limit within which you need to pass the Profit Target, the Trading Period is indefinite. As soon as all the Trading Objectives of your FTMO Challenge are met and your results are reviewed, you can proceed to the Verification phase. The minimum time to complete an FTMO Challenge is 4 trading days.
If we discover identically traded strategies through various accounts, and exceeding the total of $400,000 in active FTMO Accounts, we reserve the right to suspend those accounts as per the contract.
