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Seoul + South Korea
Posts: 35 since Feb 2025
Thanks Given: 6
Thanks Received: 7
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FTMO Challenge Update 2025.04.02
Someone sent us a pm telling us that prop firms are against accounts with multiple users and would not pay out, this was new to us.
After a lot of research and going through reviews on TrustPilot we came to the conclusion that this is true. Also there seems to be a shady 1% rule that states that a single trade should not risk more than 1% of initial balance(which seems absurd). Basically prop firms including the ones we subscribed to (FTMO, 5ers) seem to be looking for every excuse possible to decline payouts.
Since we need to be both logged in(something that goes against their rules) and since what we do is usually selling one instrument and buying another one, the 1% rule is something that we can not work with. So we concluded that the challenge fees we paid, about $1600, were better off thrown in the ocean.
If anyone can recommend us a real proper prop firm, that does not come up with all these absurd rules, please let us know, we would greatly appreciate it.
So we decided to keep trading the FTMO account(ignoring their daily loss, overall loss rules) as if it were a real $200,000 to keep a record, and not treat it as a $20,000 account which it really was. Everything will progress much faster.
Current positions are as follows, we no longer enter fractions of lots since we are going to trade it as if it were a real $200,000 account.
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