FTMO Banned Me (Denied Funding)

Summary

A trader shares their experience of being banned from FTMO after earning around $180,000, describing a gradual buildup of restrictions that made trading increasingly difficult. They highlight issues like lot size limits, time constraints, and the vague ‘one-side betting’ rule, which they believe led to inevitable account termination. While acknowledging FTMO as a legitimate firm, they argue it is falling behind newer competitors offering more flexibility and innovation. The speaker emphasizes the importance of adaptability, shifting to personal trading success, and encourages traders to diversify prop firms while viewing setbacks as opportunities for growth.

Takeaways

• 😀 The speaker has been banned by FTMO after earning $180,000 in payouts, citing several restrictions and obscure reasons.
• 😀 FTMO implemented multiple trading restrictions including lot size limits, time restrictions, and one-side betting rules, making scaling and larger payouts difficult.
• 😀 Despite the ban, the speaker still respects FTMO as a firm but believes it is losing its competitive edge and innovation compared to newer prop firms.
• 😀 The speaker emphasizes that prop firms remain an excellent opportunity for traders to scale, especially using a $50k challenge to build significant income.
• 😀 Other firms like Funding Pips and Holla Prime are highlighted as more innovative and supportive, offering fewer restrictions and faster payouts.
• 😀 The speaker observes that many traders in the community have faced similar bans from FTMO, indicating a possible systemic issue.
• 😀 Transitioning to personal trading accounts allowed the speaker to continue growing capital independently, demonstrating adaptability and resilience.
• 😀 The video includes promotional content for various trading platforms and codes, as well as educational products focused on trading psychology and strategies.
• 😀 Red flags in FTMO’s approach include inconsistent enforcement of rules and a lack of engagement with the trading community, which may contribute to its decline in relevance.
• 😀 The speaker plans to document a $50k trading challenge on multiple platforms (YouTube, Telegram, Twitter) to demonstrate how to effectively manage accounts and trading strategies.

Q & A

What led to the speaker being banned from FTMO?

The speaker was banned from FTMO after a series of restrictions were placed on their account, including limitations on lot sizes, time intervals between trades, and the concept of 'one-side betting.' These restrictions made it difficult for the speaker to trade freely and ultimately led to the ban.

How does the speaker feel about FTMO despite being banned?

Despite being banned, the speaker holds a balanced view of FTMO. They acknowledge that FTMO is a reputable firm that paid them a total of $180,000. While they criticize some of the firm's recent actions, they still consider FTMO one of the top firms in the prop trading industry.

What specific issues did the speaker have with FTMO's trading restrictions?

The speaker faced several issues with FTMO's trading restrictions, such as lot size limits, time restrictions on opening trades in the same direction, and a cap on the total risk per trade. These measures made it increasingly difficult for the speaker to trade at their preferred scale, leading to frustration and eventually the ban.

What is the 'one-side betting' rule and how did it affect the speaker?

'One-side betting' refers to the practice of opening multiple trades in the same direction within a short period, which FTMO deemed as an attempt to manipulate trades for guaranteed profits. The speaker was penalized for this practice when they opened additional trades after securing profits, which FTMO classified as breaking the rule.

How does the speaker compare FTMO's performance to newer prop firms like Funding Pips?

The speaker suggests that FTMO is falling behind in terms of innovation and trader support, especially when compared to newer firms like Funding Pips. Funding Pips has achieved substantial payouts in a shorter time and offers more flexible challenge formats, which the speaker believes positions them as a rising competitor.

What does the speaker believe about the future of FTMO in the prop trading space?

While FTMO is unlikely to go out of business due to its established position in the industry, the speaker believes the firm is losing ground in terms of innovation and trader support. They think FTMO is no longer the top choice for prop traders and will continue to fall behind unless they adapt.

Why does the speaker still recommend prop firms despite their ban from FTMO?

The speaker continues to recommend prop firms because they offer a valuable opportunity for traders to scale their trading career. Despite the challenges faced with FTMO, the speaker emphasizes that prop firms, in general, are still an excellent way to get funded and grow as a trader.

What are the benefits of taking the 50k challenge, according to the speaker?

The speaker believes the 50k challenge is an excellent opportunity for traders to get funded and work toward becoming a full-time trader. With a $50,000 account, a trader can make 10% per quarter, generating $20,000 per year, which could serve as additional or even primary income.

How does the speaker plan to document their 50k challenge journey?

The speaker plans to document their 50k challenge on YouTube and Telegram, sharing weekly updates and insights into their trades. They aim to show the process of passing the challenge, managing risk, and eventually receiving payouts.

What is the speaker’s opinion on Holla Prime as a prop firm?

The speaker is very enthusiastic about Holla Prime, rating them highly for their customer support, transparency, and overall service. They express strong support for Holla Prime and see it as a key player in the prop trading space moving forward.