Prop Firm FTMO Restores MetaTrader Mobile, but Not for All (2024)

FAQs

Does FTMO still use MetaTrader? ›

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.

Due to the pricing structure of MetaTrader licenses, MetaQuotes does not generate direct revenue from demo server activities. Apart from Blackbull Markets, Purple Trading, another brokerage that licences MetaTrader, also ceased its services to proprietary trading firms earlier this week.

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.

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.

Restart your platform.

If you are certain that you are using the correct logins, restart the platform— close it > wait for 10 seconds > open it again. If you are using an anti-virus, firewall, VPN, or any other security program, make sure that MT4 and/or MT5 are on the list of “allowed programs“.

Will mt4 be phased out? No. Although Metaquotes announced several years ago they would no longer be supporting MetaTrader 4, it is still available from their website for free download and remains by far the most popular and widely used trading platform. What is the difference between MT4 and MT5?

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.

Limited Control Over Capital and Payouts:

- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.

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.

Can you get banned from FTMO? ›

Besides the standard eligibility conditions, you should not have any past or prevailing conflict of interest with FTMO, or engagement in the Forbidden Trading Practices, as laid out in the Terms & Conditions (clause 5.4).

The company has been in the industry for several years and has built a solid reputation for paying out profits to its traders promptly. Moreover, FTMO has a dedicated support team that is available to assist traders with any issues or concerns they may have regarding payouts.

FTMO is a leading firm in the field of modern prop trading based in the Czech Republic. It was founded in 2015 under the name Získej účet (Get an Account).

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.

Here's a full list of FTMO banned countries (as per January 2024): United States of America (US) The Russian Federation. India.

MetaQuotes, the company behind the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) trading platforms, abruptly started cracking down on prop trading companies that were using their platforms without proper licensing. Many of these prop firms were servicing US-based clients without authorization from US regulators.

FTMO doesn't trade with any of the common broker brands. They are partnered with a tier-1 liquidity provider with the best simulated real market trading conditions. As for trading platforms, while you are working with FTMO, they allow you to trade on MetaTrader 4, MetaTrader 5, cTrader, or DXtrade.

What Trading platform does Funded Trader use? Funded Trader uses the Metatrader 4/5 platform, which is the most common choice for Traders and Brokers worldwide.

Other important factors to consider when researching alternatives to MetaTrader 4 include features. We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to MetaTrader 4, including thinkorswim, eToro, E*Trade Web Platform, and Binance Broker.