Introduction: What is Ftmo.com?
FTMO.com is a proprietary trading firm that claims to provide an opportunity for aspiring traders to trade the company’s money in exchange for sharing the profits. FTMO is a proprietary trading firm that operates in multiple countries and is commonly known for its two-part qualification process: FTMO Challenge and FTMO Verification.
FTMO.com Overview
- Company Name: FTMO
- Website: https://ftmo.com/
- Address: NA
- Regulation Status: Not Regulated
- Operating Since: 2001-11-16
- Warned By: Not warned by any regulator
FTMO Qualification Process
- FTMO Challenge – Has a fee associated with the amount of capital and risk assigned to a trader, which serves as a “test” for a specified time to determine the overall discipline and skill of a trader.
- FTMO Verification – This is a free phase for those who completed the FTMO Challenge. The only difference in the Verification phase is that it has a longer time limit and targets a lower profit margin.
Although the format appears straightforward, we have seen a range of evidence from many users that indicates unethical practices by FTMO, especially after the qualification has been reached.
Red Flags and Real User Experiences
Although their 92% on Trustpilot indicates a positive rating, there are many unfavourable reviews that surfaced from sites like Reddit and reviews.io, which have shared user experiences that are far different from the claims made by FTMO.
- First, many of the ratings appear generic and are likely to appear as real user-favourable impressions of the institution, most likely using bots for rating purposes.
- Secondly, the negative ratings are clear and, for the most part, completely detailed regarding their major payout issues.
- For example, one trader in particular highlights being issued $15,000 and $19,000 to two accounts, and FTMO did not allow collection of the payments based on risk levels that were raised by the company, based on the trader’s compliance with guidelines.
Crypto Trap & Telegram Lure
Some users state they were approached in Telegram groups and by crypto “coaches” representing FTMO-like schemes. These interactions led to Bitcoin losses, and so-called fake “unlock fees” that were claimed to be required for the user to withdraw funds, indicative of scams that are merely affiliate scams or impersonation scams from the outset.
The Bigger Picture
FTMO has a professional facade; it masks a lot of issues with declared non-payments. They’re also really lacking in transparency, and positive reviews seem to be robotic. While not all traders may be affected, the risk is significant.
Key Points Covered:
- The two-step process seems credible, but it has flaws.
- Users who passed evaluations reported that they had already been denied payment.
- Fake Trustpilot reviews diminish transparency.
- Scams via Telegram and crypto groups
- FTMO’s lack of ethical options for resolution
Call to Action: Caution and Support at BrokersReviewer.com
If you have had any experience with issues at FTMO.com or any trading platforms, we are here for you at BrokersReviewer.com. We don’t just write reviews… we write them based on our investigations.
We also offer:
- Detailed scam reports and platform reviews
- User testimonials highlighting real experiences
- Reports on how claims and users may be able to report, receive, recover, and protect their money
We know how stressful it is to lose money to fraudulent trading companies. That is why we specialize in providing researched, verified material. Whether you are just getting started or you are a professional, we can provide you with qualitative information relevant to your situation.
If you have found yourself in a situation similar to the Ftmo.com scam, don’t just bury your head in the sand! Contact us on BrokersReviewer.com, as we would like to assist customers like you, as well as help prevent others from having similar losses. Your financial security matters!
Stay informed. Read broker reviews, compare platforms, and always verify licensing details.
Take a look at the full Primeten.co review here.
For more updates, follow us on:
Leave a Reply