What happens when a market leader in prop trading replaces his unpopular Trading Objectives with something much better? You wanted it, so we gave it to you. The unlimited trading period is here!
The 30 or 60 calendar days to complete the Evaluation Process are gone. Free repeats and 14-day extensions are also no longer needed because traders trying an FTMO Challenge and a Verification don't have to watch whether they can make 10% in 30 days or 5% in 60 days.
We can declare with a clear conscience that the biggest obstacle for conservative traders who had problems due to increasing their positions to meet the Profit Target listed in the Trading Objectives is in the past. What does this new change mean for traders?
Simply put, for many traders, some of the stress they had when trading with a fixed trading period will be removed. Making money in Forex is generally not easy and achieving a 10% return in one month can already be a chore for many traders. In an open-ended trading period, there is no need to rush into trades, it is much easier to think about position sizes, wait for the right time to enter, and then let the trades do their work.
Beware of swaps!
Forex trading is particularly suitable for intraday and short-term traders due to the use of leverage and the existence of swaps, and the classic "buy and hold" strategy does not work well for trading leveraged products. In fact, a trader holding one instrument for several days can lose several percent of his potential profit just due to negative swaps. When a position is in a loss, it is compounded by swaps. In this situation, it is necessary to keep in mind that despite the set Stop Losses, such a long-term position, in which swaps start to play an important role, may still result in a bigger loss than the trader planned. In the worst case scenario, by failing to meet one of the loss limits (the Maximum Loss or the Maximum Daily Loss).
If you trade and accidentally leave your account inactive for a few weeks, we will contact you to make sure the account is not sitting unused on our server, taking up space. Our traders can also request a so-called "freeze", i.e. a pause, of an account, especially in case of planned longer inactivity, for example, a holiday.
An unlimited trading period does not mean that we support speculators who do not want to trade on their simulated funded trading accounts. We want to provide FTMO Accounts to traders who know how to trade but don't have the resources to do it meaningfully. We like active traders who trade smartly, have a clear plan and strategy, and are able to follow the rules of money management and risk management.
Please note that trading without a time limit on an FTMO Challenge and Verification is only possible for newly purchased accounts made after the announcement of the campaign, i.e. July 13, 11 am CEST. Please note that orders created before the launch of the campaign and the rules on their accounts as well as on the subsequent Verifications for these orders, as well as Free Repeats, cannot be changed in any way and the rules remain the same as before and according to the public terms and conditions in force at that time.
