How To Become An FTMO Funds Trader In Trading?
In order to achieve success in trading, you must know how to treat money. Even if the funds are not your own, you must treat them like your own money and control your emotions. You must also use proper risk management. A successful funded trader will keep the majority of his profits. This is a great way to become a successful trader and increase your odds of success.
To become an FTMO funds trader in trading, prospective users must complete two tests before being allowed to trade with actual money. The first involves the successful completion of a two-step evaluation challenge. The second requires payment. Once successful, users are allowed to begin trading on more than one hundred pairs of forex and CFDs. FTMO offers a professional account that can hold up to 400,000 USD and offer a leverage of up to 1:100. This account also provides users with access to a demo account and a live trading account with the firm. The account types are broken down by capital and risk level, and a user can choose from forex, stocks, and cryptos with the best the funded trader.
FTMO accounts also come with unique trading tools and apps that help monitor performance. However, these tools are only available to FTMO traders. The company has some specific trading conditions, such as the fact that a trader cannot open or close positions more than two minutes before a restricted event. For this reason, it is essential to keep an eye on the firm’s economic calendar, as well as use a time zone converter.
FTMO Offers Simulated Trading Tests
FTMO offers simulated trading tests, which help traders assess their trading skills. The test is a paid service, and the fee varies depending on the type of account and initial deposit. It is designed to help you assess your trading skills before you commit to a live account. After you complete the test, you can start working with virtual funds in amounts ranging from $25 000 to $150 000.
FTMO requires registration before allowing you to take the test with FTMO review. Once you have registered, you will receive access to your user account settings. Unlike some companies in this space, FTMO does not charge an entrance fee. It also offers a free trial of its platform and supporting applications. Users may also access its Trading Academy to learn more about trading and get trading recommendations. Moreover, you can also take advantage of the company’s affiliate program to receive discounts on paid courses.
FTMO Offers A Swing Account
The FTMO trading platform provides a wide range of trading instruments, from stocks and indices to foreign exchange pairs and cryptocurrencies. It also offers a variety of FTMO-funded accounts. Among these, customers can select the Swing account, which allows them to hold positions overnight, during macroeconomic news releases, and during weekends.
With the FTMO swing account, traders can take advantage of the flexibility of the market with little or no trading restrictions. The standard account comes with rules that limit the time you can hold positions in the market, such as not trading during news releases, and a daily loss limit of five percent. Swing traders typically hold positions overnight and analyze the higher timeframes for patterns. The FTMO swing account can be a good option for a new trader with up to $200,000 in account size. The account can be scaled up or down according to the size of your account, and the company has realistic profit targets that will not put you in debt. FTMO’s swing evaluation process also includes realistic profit targets. Furthermore, the FTMO platform allows you to use EAs or hold trades overnight.