FTMO is without a doubt the largest and most widely used online forex prop firm in the industry. Over the last few years the company has grown over 40,000% and gone from strength to strength, helping fund thousands of profitable traders around the world. However, in such a new industry, traders are still skeptical. Are there any payout proof’s to prove that FTMO is legit? Let’s take a look…
My Payout Proof From FTMO
No matter how good a forex prop firms offering appears to be, if traders are not getting paid – it’s not a risk that is worth taking. I’ve been fortunate enough to have taken withdrawals from all of the worlds leading forex prop firms now and sometimes even a few from each – FTMO being no exception.
You’ll be able to see here my recent payouts from FTMO over the last few months. All of these payouts were received within a few business days of me requesting a withdrawal. I also paid £0 in fees on these – which was great to see! It’s very rare that I’ll have any kind of international transaction passed through with absolutely no fees on my end.
Do these withdrawals mean that FTMO are going to be paying traders forever? Well, of course I cannot say that. There is always going to be risk involved when using any kind of third party or trading itself. Is your broker going to let you withdraw? Will your bank let you withdraw? Will the market destroy your account balance in 5 minutes? There is always going to be risk!
There are two real key elements to staying safe whilst using any prop firm, including FTMO…
- Keep your ear to the ground and understand what is actually happening within the industry. You’ll be able to tell fairly quickly if the company is tweaking the trading conditions or starting to delay payments to traders – these are your two red flags to look out for.
- Don’t only use your prop firm funded trading account. The maximise profits and reduce risk as much as possible, setup a trade copier to automatically mirror your trades from the prop firm account, back to your personal trading account. When doing this, you can put all of your withdrawals from FTMO (after tax, of course) back into your personal account to compound. This is going to allow you to keep growing and have a nice nest egg, regardless of what happens with the company in the future. I have used MT4 Copier for this in the past and it worked perfectly.
FTMO Withdrawal Proof From Other Traders
My payout proof might not be enough to quench your thirst, which is completely understandable! Luckily, there are a huge amount of withdrawals from other traders online that show how FTMO is paying traders fairly and on time. Here are some of these proof videos from other traders…
If videos aren’t your thing, there are whole forum threads and Facebook groups dedicated to sharing FTMO payouts as well! Let’s take a look at some of these threads…
- A Reddit Thread talking about FTMO payouts and the legitimacy of the company.
- A Forex Factory thread with over 460 pages, discussing payouts, withdrawals and the overall opinion of the company. The majority of authors in this thread are traders that have used the service FTMO offers.
These are the best resources in my opinion, to see the legitimacy for yourself. Beyond that, your best chance is to either sit on the sidelines and keep spectating, or use one of the cheaper trading options.
Rolling the dice on a $200,000 challenge account is going to set you back if you don’t think the company will pay out. However, taking a chance on the $10,000 funded account (cost of £144), is not a great deal to lose in the grand scheme of things. I actually have a full review of FTMO here, if you’re interested in finding out more about the different account sized offered.
Requesting An FTMO Payout – My Experience
Not only do I have to praise FTMO on the fact the payouts come to quickly, they are also incredibly simple to get your hands on. With some of the other prop firms in the industry, you need to create and submit an invoice in order to get paid. This isn’t the worst thing in the world but it’s definitely time consuming and puts an extra step in the mix.
However, FTMO now have an incredibly streamlined process to get your payouts. Essentially all you need to do is log into your back end, then request a withdrawal. There is a invoice generator style page, where you confirm personal details, the account number etc – then the payout will be made.
The whole process takes about 3 minutes, give or take. I made a few errors on one of my withdrawal attempts and I had a member of the accounts team email me directly that day and help me get my issues sorted.
I have taken withdrawals from all of the leading forex prop firms and none have been as smooth and easy as taking a payout from FTMO.
In Conclusion – FTMO Payout Proofs
In summary, I hope this gives you a flavour as to the results and payouts traders are having from FTMO. Again, you have to remain very cautious and make your own decision based on the risk appetite you have. Out of the prop firms I have used and received withdrawals from, FTMO is a great option and I would highly recommend them if you’re in the market for a funded account.
What’s your experience with funded accounts? Let me know in the comments below…