FundYourFX vs FTMO
The possibility for greater profits is one of the primary advantages of proprietary trading, often known as prop trading, in comparison to other kinds of trading. Prop trading firms are keen to invest in anyone who can show them that they know how to make money in the market. This is a terrific opportunity for both experienced traders and those just starting out.
What To Consider When Choosing Prop Firms?
So you are ready to join a prop firm. What should you consider first?
When making your choice amongst different prop firms, reputation is the first and most crucial factor you should consider. If a trader were looking for a prop firm, reputation and payment would likely be the factors they prioritized the most. Both FundYourFX and FTMO have established themselves as trustworthy competitors in the market. You can conduct your homework and verify the ratings they have received on TrustPilot.
Both of these firms have been verified and have received outstanding feedback. That way, you won’t have to be concerned about getting scammed.
FundYourFX vs FTMO Comparison
Now, let’s compare the two firms that engage in prop trading side by side. Both prop trading firms are honorable and worthy of having one’s trust in them. Both of them are thrilled at the idea of having you as a member of their team. But why should you select one of these options over the other?FundYourFX is a more recent firm than FTMO, which was established in 2014. FundYourFX was established in 2021 and has its headquarters in London. It can be said that sometimes newer is better. FundYourFX does a better job than FTMO does since it makes up for some of FTMO’s shortcomings.
The vast majority of individuals are unaware of the fact that FTMO does not truly permit users to trade using real money. Even if your account is funded, you will always be trading in Demo mode. Contrast that with FundYourFX, which allows you to start trading with a real account as soon as you are approved into the program. You are not even required to participate in any of the challenges. They want you to be a self-disciplined individual who can effectively manage risk and who primarily emphasizes maintaining consistency over the long term.
If you are successful at making money regularly, you could be able to manage account sizes of up to 2 million dollars and take home profit shares of up to 90%. Compare this to FTMO, which only allows scaling of up to $200,000. Do you see the difference? One presents you with the opportunity to make a great deal more money than the other.
You are obligated to close all of your holdings in FTMO right before the markets are scheduled to close for the weekend. It does not have the same degree of flexibility as FundYourFX. Overnight holdings, trading in news events, and transactions over the weekend are all acceptable when using FundYourFX. All that is required of you is to behave responsibly with regard to risk management. Keep this in mind when thinking of FundYourFX. Fully funded accounts. Zero loss liability. No hidden costs. Because of this, we highly recommend FundYourFX as the platform on which you should begin your career in prop trading.