The fee covers the costs related to the FTMO Challenge provided by FTMO such as the designing, development, and operation of the FTMO platform (the technical infrastructure behind the provided educational services and applications). The size of the fee differs accordingly to the selected FTMO Challenge, depending on the amount of its simulated account balance. The respective fee also covers the designing and development of all the applications mentioned below and the creation of other content available to our clients.
In this connection, after payment of a fee, you have not only access to FTMO Challenge and the simulated trading environment but also to all our unique applications designed to enhance your learning experience, such as the Statistical Application, Mentor Application, Account and Trader’s Analysis, Account MetriX, trading calculators & more.
Bear in mind that you cannot lose more than this fee and on top of that, the fee is always refunded back to the trader with his/her first Profit Split from an FTMO Account (after he/she passes the Evaluation process).
FAQs
Payment processing fees refer to fees charged to merchants for processing credit card payments and online payments from customers. The amount of payment processing fees depends on the pricing model preferred by the payment processor, as well as the level of risk of the transaction.
What is the point of fees? ›
Most often, fees are the payment one makes in return for service, such as mowing a lawn or drafting a will. Sometimes more than one fee is charged for a service.
Why do I have to pay a convenience fee? ›
Convenience fees are charged by businesses to cover the cost they pay to payment processing companies for when a customer pays by credit card. A convenience fee is different from a surcharge, which is a charge simply for just using a credit card. Surcharges are illegal in some states.
Why am I getting transaction fees? ›
They're basically the cost that your payment processor charges you in order to facilitate the transaction. When it comes to transaction fees, most payment processors charge a percentage of the transaction, but other times they charge a flat rate.
Why would a bank charge you a fee? ›
Banks charge fees to help make a profit. Bank fees allow financial institutions to recoup operating expenses. Banks also make money on loans, via interest and other fees.
Are convenience fees illegal? ›
Seeing retailers offer discounts for cash payments — or assess fees when customers pay by credit card — is becoming more common than ever. In most U.S. states, adding convenience fees to credit card transactions is legal, but there are still rules businesses must follow when doing so.
How can fees be avoided? ›
Keep at least the minimum balance required in your account. This helps to avoid monthly fees and accidental overdrafts. Keep multiple accounts at your bank. Many banks are looking at the entire customer relationship and may offer free services if you maintain both checking and savings accounts with them, for example.
Why do transaction fees exist? ›
Because there are intermediaries that facilitate the transfer of a good or service from one party to the other, these fees often are paid to the party that helped make the exchange occur. Government entities or regulatory bodies also may impose transaction costs to help the facilitation of future goods.
Does fees mean money? ›
A fee is the cost of something, or the amount of money charged.
Why are companies charging service fees? ›
2. Their Purpose. The service charge is meant to cover the cost of service provided and may be used to supplement employee wages, cover operational costs, or be distributed among staff by the company.
No, surcharging for debit card transactions is prohibited under the Durbin Amendment of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This applies to all types of debit cards, including prepaid cards.
Is there a way to avoid convenience fee? ›
Convenience fees for online or phone payments can easily be avoided by utilizing alternative payment methods. One option is to use cash, check, or an ACH transfer. These methods typically do not incur convenience fees, making them a cost-effective alternative.
Why am I being charged a processing fee? ›
Simply put, when a customer pays for goods or services the business has to pay the bank a fee in order to accept the payment.
How do I avoid paying a transaction fee? ›
How to Avoid International Transaction Fees
- Open a Credit Card Without a Foreign Transaction Fee. ...
- Open a Bank Account Without a Foreign Transaction Fee. ...
- Exchange Currency Before Traveling. ...
- Avoid Foreign ATMs. ...
- Ask Your Bank About Foreign Partners.
A transaction fee is a fee charged when making balance transfers, direct deposit or check cash advances, or other bank cash advances, such as ATM cash advances, with your credit card. A transaction fee may also be charged if you make a foreign transaction.
Why do payment processing fees exist? ›
Merchant fees exist because credit card processing is a service. Like any other service, the entities involved must be compensated for their role in the process. With credit card processing, there are multiple players involved with every transaction.
How do I avoid payment processing fees? ›
Strategies to lower credit card processing fees include buying your payment terminals instead of leasing, staying PCI compliant, finding the best merchant services provider for your business, considering surcharging or cash discounts, and avoiding cancellation fees.
What is the purpose of a transaction fee? ›
Transaction fees are the expenses that businesses need to pay to their payment service provider every time the provider processes an electronic payment for a Card Present or Card Not Present transaction. Transaction fees can vary slightly, depending on the payment service provider.
