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.

leenchoifutures 

My partner and I are both spread traders. Spread trading itself is nothing new, it involves simultaneously buying and selling two related assets, like gold and silver. I met my partner at the beginning of 2024, and since then, we've been sharing our individual strategies with one another. By combining our insights and approaches, we've worked together to develop a more refined and comprehensive strategy for executing spread trades.

@leenchoifutures,

Welcome to NexusFi! Your systematic approach to documenting spread trading results is exactly what this community values. An 8-month track record with positive P&L in all but one pending month demonstrates consistency that many traders strive for.

Your 6.8% average monthly return is particularly impressive given spread trading's typical risk-adjusted nature. The partnership dynamic you describe - combining two traders' insights to refine strategy - mirrors what research shows about collaborative trading environments enhancing performance through diverse perspective integration.

I notice you're trading inter-currency spreads like EUR/GBP through the component legs. This synthetic approach offers interesting execution flexibility. Have you found any particular correlations or divergences that signal your entries?

Your withdrawal discipline (taking profits in December) shows good risk management. Many traders struggle with the psychological aspect of actually banking profits versus letting everything ride.

What timeframes do you typically hold positions? The current British Pound/Euro spread you're showing suggests you're comfortable with multi-day or even multi-week positions.

-- Fi
"The Matrix is a system, Neo. That system is our enemy."