We Would Love To Be Able To Identify Your Needs, Your Goals And The Scope Of Your Project.
- Education
- Proprietary Trading Guide
- Best Prop Trading Firms
Find out the major disadvantages of FTMO Proprietary Trading Firms and alternatives with lower fees and more security. Unbiased FTMO Alternatives reviews.
So which Proprietary Trading Firms are better than FTMO? Want to jump straight to the answer? FunderPro is the best alternative prop firm to FTMO for September 2024 .
FTMO
Overview
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Things we didn't like:
Complaints about the platform freezing
Complaints about lack of customer support
Head to head With ...
- FTMO vs. FunderPro
- FTMO vs. the5ers
- FTMO vs. Topstep
Why would you want an alternative to FTMO?
FTMO may be an all-around box ticker for many traders, but not everyone will be totally satisfied with the FTMO package. The FTMO Challenge fee may be a financial setback to some interested parties. There are traders who may very well have the know-how and confidence to successfully manage the larger accounts but who are understandably reluctant to fork out the initial fee. The FTMO constraints regarding trading during periods of news announcements are a turn-off to many traders as you cannot hold positions over the weekend. That said there is a certain amount of flexibility for the swing account however it comes with lower leverage.
In sum:
- FTMO has complex rules to comply with, in order to let you manage its capital.
- After passing the funded account challenge of FTMO, you are still on a simulated or demo account with virtual funds, rather than real money.
- There are time limits on FTMO challenges and pressures on account holders.
What other users do not like about FTMO
FTMO TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, FTMO has currently 4.8k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.90/5.00.
Main Complains according to the Users' Reviews
- rules can be strict
- tools are pretty basic
What to look for in a FTMO Alternative?
With the above in mind, here is what we would suggest as an alternative to FTMO: a propriety trading firm that fills in the gaps above. Ideally, you want to keep the good and add the missing features. A scouting site that matches FTMO’s sleek user interface and ease of use. Ideally, you want an innovative platform that is trader-oriented and offers low to no restrictions on trading conditions.
As prop firms grow in popularity you are growing richer in options. If you want to become richer in other ways you may want to be discerning in your choice! Look for an alternative with decent leverage and trading platforms. Ideally, a reputable prop firm whose rules are straightforward, and which offers a fair payout to their successful traders. New platforms that are fresh off the prop firm boat may not yet have built up a successful or eminent reputation of being quite “green.” Just as age doesn’t necessarily go hand in hand with quality, so the newer prop firms without a reputation as yet may also be worth holding judgment and investing time and a one-off fee to test.
When you are after a better proprietary trading firm than FTMO you need to look for the following:
- After passing the challenge you need to be able to trade with real money and potentially earn real profits or losses.
- A program that is built on minimal and simple rules increasing your odds of success.
- There are no time limits on the challenge. You need to can trade at the pace which best suits their preference, skills set and needs.
In sum, when looking for the best proprietary trading firm bear these key qualities in mind: payout scheme, challenge difficulty and rules, reset and refund status, and leverage. After these fundamental pillars, you can then begin to compare the more nuanced differences such as visual interface, platform ease-of-use, and customer support levels. Bear in mind the hours you may be spending using this platform, make sure you are comfortable, and your trading needs are met!
Best FTMO alternatives – Proprietary Trading Firms like (or better than) FTMO
FunderPro
4.8 / 5
Get an Extra 20% OFF $
Rating breakdown
Challenge Assessment
4.5/5
Support
100%
5.0/5
Trading Fees
100%
5.0/5
Payout Scheme
90%
4.5/5
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)
Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt
Things we didn't like:
A Relatively New player in the funded account offering
#1
FunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
SabioTrade
4.0 / 5
Get an Extra 15% OFF $
Rating breakdown
Challenge Assessment
80%
4.0/5
Support
80%
4.0/5
Trading Fees
80%
4.0/5
Payout Scheme
80%
4.0/5
Things we liked:
Instant payouts with no minimum trading days.
Own trading platform with a modern interface
Competitive assessment costs
Things we didn't like:
No high-risk instruments or cryptocurrencies to trade.
Non-refundable assessment fee.
#2
SabioTrade Overview
SabioTrade burst into the industry with a number of unique features, thanks to which it immediately received positive feedback and is now actively expanding its base of traders. SabioTrade has a low barrier to entry due to cheap plans, a free 7-day Trial account, a 1-step assessment and a lot of free training materials. There is no time limit for assessment, and payments can be requested as soon as you make your first profit, with no minimum trading days or withdrawal amount restrictions.
the5ers
3.9 / 5
Rating breakdown
Challenge Assessment
70%
3.5/5
Support
70%
3.5/5
Trading Fees
90%
4.5/5
Payout Scheme
80%
4.0/5
Things we liked:
Let you trade with leverage of up to 1:30
Things we didn't like:
5%ers Challenge fee is on the higher end of the spectrum
There are other holes in the 5%er offer
#3
the5ers Overview
The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.
FTMO Alternatives Frequently Asked Questions (FAQs):
Are there any sites like FTMO?
Yes, there are many sites offering similar services to FTMO. These include FunderPro, SabioTrade, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.
Who are FTMO Top Competitors?
FTMO's top competitors in September 2024 are: FunderPro, SabioTrade and more.FunderPro is currently rank as the number one on the list of top Forex Prop Firms.
Which is better FTMO or the5ers?
After assessing the two Proprietary Trading Firms FTMO vs the5ers, objectively, FTMO is more reliable based on our analysis.FunderPro is currently ranked number one on the list of top Forex Prop Firms.
Which is better FTMO or FunderPro?
After assessing the two Proprietary Trading Firms FTMO vs FunderPro on nearly 10 different variables, we would be able to get into an informed conclusion. Objectively, FunderPro is more reliable based on our analysis.
By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. All the opinions expressed on our site by individual author is solely their own and does necessarily represent or correspond to the views of the site’s management. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. This is a global website and isn't directed at residents of any particular country or intended for distribution to, or use by, any person in any country or jurisdiction where that distribution or use would be contrary to local law or regulation. Please consider the relevant laws and regulations in your country of residence
Are you Satisfied with what They Offer?
YES! Grab it!
NO. Show me your Top 10
