By Alex Firdaus · Updated June 2026 · Data checked June 19, 2026
FTMO Review 2026: Challenge Rules, Payouts and the OANDA Acquisition Explained
Quick verdict: FTMO is the most established prop firm in the world, operating since 2015 with over $500 million paid to traders and a 4.8/5 Trustpilot rating from 40,000+ reviews. The 2-step evaluation uses a 10% static drawdown — the most forgiving in the industry. The challenge fee is refunded with your first payout, not when you pass. In December 2025, FTMO acquired OANDA, opening US access via NFA-regulated infrastructure. If you want the most proven track record in funded trading, FTMO is the benchmark.
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Table of Contents
- What Is FTMO?
- Challenge Types and Pricing
- Drawdown and Risk Rules
- Platforms and Instruments
- Profit Split and Payouts
- Pros and Cons
- Best For and Avoid If
- Is FTMO Legit?
- The OANDA Acquisition: What It Means for Traders
- FTMO vs The5ers, FundedNext and Blueberry Funded
- Final Verdict
- Frequently Asked Questions
What Is FTMO?
FTMO is a proprietary trading firm registered as FTMO s.r.o. in Prague, Czech Republic. It was founded in 2015 by Marek Vašíček and Otakar Šuffner. The firm funds traders who pass a simulated two-step evaluation. Traders keep 80% to 90% of the profits generated on their funded account. FTMO does not manage client funds or offer brokerage services — the evaluation runs on demo accounts with simulated capital. As of June 2026, FTMO serves traders in 180+ countries and operates with over 300 staff.
FTMO pioneered the modern prop firm challenge model in 2015. The basic premise: pay a one-time fee, complete a simulated trading test, pass, and trade funded capital. Virtually every prop firm launched after 2018 copied this structure. FTMO is the original and, by payout volume, still the largest.
In December 2025, FTMO completed the acquisition of OANDA Global Corporation, one of the world’s largest retail forex brokers. The deal adds regulated broker licences across eight jurisdictions to the FTMO group, including NFA coverage that now allows US traders to access FTMO for the first time since 2022. For more on how FTMO compares to other firms, see our prop firm directory.
FTMO Challenge Types and Pricing (2026)
As of June 2026, FTMO runs two main evaluation paths: the 2-Step Challenge and the 1-Step Challenge. Both use the same account sizes and follow similar rules, but differ on drawdown type, profit split from day one, and fee structure. Within each path, three account variants exist: Normal, Swing, and Aggressive.
2-Step FTMO Challenge
The most popular path. Phase 1 (the Challenge) requires a 10% profit target. Phase 2 (the Verification) requires a 5% profit target. Both phases use the same drawdown rules. There is no time limit on either phase — the minimum is 4 trading days per phase. The fee is refunded with your first profit payout on the funded account.
| Account Size | Challenge Fee (2-Step Normal) | Phase 1 Target | Phase 2 Target | Max Daily Loss | Max Overall Loss |
|---|---|---|---|---|---|
| $10,000 | ~$155 | $1,000 (10%) | $500 (5%) | $500 (5%) | $1,000 (10%) |
| $25,000 | ~$250 | $2,500 (10%) | $1,250 (5%) | $1,250 (5%) | $2,500 (10%) |
| $50,000 | ~$345 | $5,000 (10%) | $2,500 (5%) | $2,500 (5%) | $5,000 (10%) |
| $100,000 | ~$540 | $10,000 (10%) | $5,000 (5%) | $5,000 (5%) | $10,000 (10%) |
| $200,000 | ~$1,080 | $20,000 (10%) | $10,000 (5%) | $10,000 (5%) | $20,000 (10%) |
1-Step FTMO Challenge
Pass one phase with a 10% profit target and receive your funded account immediately. The trade-off: the 1-Step uses a trailing maximum loss (not static), which is more restrictive. The 1-Step also pays 90% profit split from day one without requiring a scaling milestone.
Account Variants: Normal, Swing, Aggressive
Scaling Plan
FTMO’s scaling plan increases your funded account by 25% every four months, provided you hit certain conditions including two payouts and a net positive balance. The maximum funded allocation across all your FTMO accounts combined is $400,000 before scaling. Accounts can grow to a maximum of $2,000,000 through the scaling plan.
FTMO Drawdown and Risk Rules
FTMO uses a static maximum loss on the 2-Step path — the most trader-friendly drawdown model available. Your loss floor is fixed at 10% below the starting account balance and does not move upward as you make profits. This means a winning streak does not shrink your drawdown buffer. It is one of FTMO’s most significant advantages over firms that use trailing drawdown.
| Rule | 2-Step Normal | 2-Step Swing | 1-Step |
|---|---|---|---|
| Maximum Daily Loss | 5% of initial balance (hard) | 5% of initial balance (hard) | 3% of initial balance (hard) |
| Maximum Overall Loss | 10% of initial balance — static | 10% of initial balance — static | 10% of initial balance — trailing (follows equity highs) |
| Drawdown basis | Calculated from initial balance, includes open positions | Calculated from initial balance, includes open positions | Trailing from highest equity point reached |
| News trading (funded) | 2-min window restriction before and after high-impact news | No restriction | 2-min window restriction |
| Weekend holding | Restricted on funded account | Allowed | Restricted |
| Minimum trading days | 4 days per phase | 4 days per phase | 4 days |
| Consistency rule | None on evaluation. 50% best-day rule applies on 1-Step funded payouts | None | 50% best-day rule on funded payouts |
| EAs and algo trading | Allowed — must follow server limits and order restrictions | Allowed | Allowed |
| Copy trading | Not permitted across accounts | Not permitted | Not permitted |
For a deeper breakdown of how drawdown types work across different prop firms, read our guide to prop firm drawdown rules.
Platforms and Tradable Instruments
As of June 2026, FTMO supports MetaTrader 4, MetaTrader 5, cTrader, and DXtrade. Platform choice affects pricing — cTrader accounts carry higher fees than MetaTrader due to platform licensing costs. For US traders using the FTMO US route via ftmo.oanda.com, MT5 is the only available platform.
Tradable Instruments
| Category | What’s Available |
|---|---|
| Forex | 44 currency pairs including all major, minor, and select exotic pairs |
| Indices | Major global indices including US30, NAS100, SPX500, GER40, UK100 |
| Commodities | Gold (XAU/USD), Silver (XAG/USD), Oil (WTI and Brent), natural gas |
| Crypto | Around 12 pairs including Bitcoin, Ethereum, Litecoin — available on some platforms |
| Stocks | Select equities available on MT5 and cTrader |
FTMO does not offer futures. If futures trading is your focus, see our review of Earn2Trade which offers a dedicated futures challenge path.
Profit Split and Payout Conditions
FTMO pays 80% of simulated profits to funded traders by default. This increases to 90% once you meet the Scaling Plan conditions: two payouts and a net positive balance maintained over four months. There is no path to 100% profit split on FTMO.
| Path | Starting Split | Maximum Split | Split Trigger |
|---|---|---|---|
| 2-Step (Normal, Swing, Aggressive) | 80% to trader | 90% to trader | Scaling Plan milestone — 2 payouts + positive balance over 4 months |
| 1-Step | 90% to trader | 90% to trader | No additional milestone required |
Payout Cycle and Methods
FTMO processes payouts on a bi-weekly cycle. The first payout is available 14 days after your first trade on the funded account. After the first cycle, payouts can be requested on demand. Average processing time is 8 hours once approved. Payout methods include bank wire transfer, Skrill, and cryptocurrency. Parte of the challenge fee is reimbursed with the first payout on 2-Step accounts.
FTMO Pros and Cons
Pros
- 10% static drawdown on 2-Step — floor does not move as you profit
- No time limit on Challenge or Verification phases
- $500M+ in verified payouts — longest payout track record in the industry
- 4.8/5 Trustpilot from 40,000+ reviews — highest review volume in prop trading
- Challenge fee refunded with first payout on 2-Step path
- Bi-weekly payouts with 8-hour average processing time
- Four platforms supported: MT4, MT5, cTrader, DXtrade
- OANDA acquisition adds regulated infrastructure and US market access
- Swing account allows news trading and weekend holding on funded accounts
- Free Trial available to test platform before paying
- Performance coaches and Account MetriX tools included
- Scaling to $2M possible through the Scaling Plan
Cons
- 2-minute news trading window restriction on Normal funded accounts — different from evaluation rules
- Fee refund is conditional on first payout, not just passing
- $400K combined allocation cap — lower than firms offering $4M+
- Not the cheapest — $540 for a $100K 2-Step is 50–100% more than newer challengers
- 1-Step uses trailing drawdown which is more restrictive than the 2-Step static model
- Weekend holding restricted on Normal funded accounts
- US access limited to MT5 only via FTMO US route; five states remain excluded
- No instant funding path — evaluation is mandatory for all products
- Max profit split is 90% — FundedNext offers 95% and The5ers reaches 100%
Best For and Avoid If
Is FTMO Legit?
Yes. FTMO is a real company with a verifiable operating history, transparent payout data, and a regulated brokerage acquisition. FTMO s.r.o. is registered in Prague, Czech Republic. The firm has operated continuously since 2015, has published payout proof publicly, and has not faced enforcement action comparable to the MyForexFunds case in 2023.
As of June 2026, FTMO holds a 4.8/5 Trustpilot rating from over 40,000 reviews — the highest review volume of any prop firm globally. The next closest competitor by review volume is FundingPips at around 46,000 reviews with a 4.5/5 rating. The volume alone makes the FTMO rating meaningful — a 4.8 average across 40,000 reviewers is far harder to manufacture than the same rating across 200.
Negative reviews on FPA and Trustpilot cluster around three themes: traders who breached a rule they did not fully understand, the “aggregated risk” enforcement clause used when FTMO detects pattern trading across multiple accounts, and disputes about the news trading window on funded accounts. None of these categories constitute a scam. They are rules-strictness complaints.
The December 2025 OANDA acquisition adds a further legitimacy layer. FTMO now owns a broker with regulatory oversight across eight jurisdictions including the NFA in the US. This level of regulatory exposure makes operating dishonestly significantly harder. For more on how to evaluate whether a prop firm is trustworthy, read our prop firm legitimacy guide.
The OANDA Acquisition: What It Means for Traders
In February 2025, FTMO signed a purchase agreement to acquire OANDA Global Corporation from CVC Asia Fund IV. The deal closed in December 2025 after receiving all five required regulatory approvals. FTMO founders Otakar Šuffner and Marek Vašíček became OANDA co-CEOs in March 2026.
For traders, the acquisition has two concrete effects. First, US access returned in 2025 via ftmo.oanda.com on NFA-regulated infrastructure. US residents can now take FTMO challenges using MT5, with five states still excluded. Second, existing OANDA Prop Trader clients migrated to FTMO accounts by March 31, 2026.
For the broader industry, the acquisition signals a shift. A prop firm now owns one of the world’s oldest regulated brokers, with licences across the US, UK, Canada, Australia, Singapore, Japan, and more. This changes the regulatory exposure FTMO faces and makes long-term operational stability more likely. FTMO plans to run OANDA as a fully standalone business — no merger of the two products is planned currently.
FTMO vs The5ers, FundedNext and Blueberry Funded
FTMO is the industry benchmark — every comparison starts here. Three firms represent the main alternatives depending on what you need: The5ers for scaling, FundedNext for challenge-phase earnings and cheaper entry, and Blueberry Funded for a newer firm with tighter rules and faster processing.
FTMO vs The5ers
| Factor | FTMO (2-Step) | The5ers |
|---|---|---|
| Max drawdown | 10% static from initial balance | 4–6% relative (trailing from equity highs — more restrictive) |
| Daily loss limit | 5% of initial balance | 3–5% depending on program |
| Profit split | 80% rising to 90% | 50–80% rising to 100% over scaling milestones |
| Maximum allocation | $400K combined, scales to $2M | Scales to $4M with 100% split at top tier |
| Consistency rule | None on 2-Step evaluation | No single day greater than 50% of total profits |
| Time limit | No time limit — 4 day minimum | No time limit on most programs |
| Platforms | MT4, MT5, cTrader, DXtrade | MT5, cTrader, DXtrade |
| Best for | Reliability, drawdown headroom, proven track record | Long-term career traders targeting $4M allocation with 100% split |
FTMO’s 10% static drawdown is easier to manage than The5ers’ trailing drawdown. A trader who profits $5,000 on an FTMO $100K account still has a $10,000 floor from the starting balance. On The5ers with a 6% relative drawdown, the same trader’s floor would have moved up, leaving less room for a correction. For disciplined traders who want capital above $400K with a 100% split, The5ers offers the clearest path.
FTMO vs FundedNext
| Factor | FTMO (2-Step) | FundedNext |
|---|---|---|
| Challenge earnings | None during evaluation — fee refunded on pass | 15% of profits earned during the challenge, even if you fail |
| Starting profit split | 80% | Up to 95% on Stellar funded accounts |
| Entry price ($25K) | ~$250 | From ~$140 on Stellar 1-Step |
| Max allocation | $400K combined, scales to $2M | $300K base, scales to $4M |
| Consistency rule | None on evaluation | 40% rule — no single day greater than 40% of total profits on funded account |
| Track record | Founded 2015 — 11 years, $500M+ paid | Founded 2022 — newer, fast-growing |
| Best for | Reliability and largest drawdown buffer | Cheaper entry, earning during evaluation, higher max split |
FundedNext’s 15% challenge-phase earning is unique in the industry. If you generate $8,000 in profit during the challenge but fail to pass, you still collect $1,200. This fundamentally changes the economics of attempting a challenge. FTMO’s refund-on-pass model means you only recover the fee if you pass and survive to the first payout. For traders who attempt challenges regularly, FundedNext’s model is meaningfully more cost-efficient.
FTMO vs Blueberry Funded
| Factor | FTMO (2-Step) | Blueberry Funded |
|---|---|---|
| Founded | 2015 — 11 years operating | Newer firm — less established track record |
| Max drawdown | 10% static | 10% static — matching FTMO |
| Profit split | 80% rising to 90% | Up to 85% on funded accounts |
| Payout cycle | Bi-weekly, 8-hour average processing | On-demand after first cycle |
| Trustpilot | 4.8/5 from 40,000+ reviews | Lower review volume — less data available |
| Best for | Proven track record, maximum trust signals | Traders who want on-demand payouts and matching drawdown rules from a smaller firm |
Blueberry Funded matches FTMO’s static drawdown model and offers on-demand payouts, but with far fewer verified payouts and reviews behind it. For traders who prioritise certainty of payment above all else, FTMO’s 11-year track record and 40,000+ Trustpilot reviews are hard to argue against. View all alternatives in our prop firm comparison tool.
Final Verdict
FTMO is the safest choice in prop trading for one specific reason: no other firm has paid out more money to more traders over a longer period. As of June 2026, $500M+ in verified rewards across 11 years of continuous operation is not something a firm can manufacture. The 4.8/5 Trustpilot rating from 40,000+ reviews — the highest review volume in the industry — provides further confirmation.
The 2-Step path’s 10% static drawdown is genuinely trader-friendly. Your profit buffer does not shrink as you perform well. The no-time-limit policy eliminates the pressure that trips up most evaluation attempts. The fee refund on first payout means your entry cost is effectively recoverable.
The legitimate criticisms are real. The $400K combined allocation cap is low for advanced traders. The 2-minute news window restriction on Normal funded accounts catches traders who assume the same rules apply as during evaluation. The fee is 50–100% higher than newer competitors offering similar rules. And the 1-Step’s trailing drawdown is meaningfully more restrictive than most traders expect.
If you are a disciplined trader who wants maximum reliability and the largest drawdown buffer in the industry, FTMO belongs at the top of your shortlist. If you want a $4M scaling path with 100% split, look at The5ers. If you want cheaper entry and earnings during the challenge phase, look at FundedNext.
Frequently Asked Questions
Is FTMO legit?
Yes. FTMO is a real Czech company registered as FTMO s.r.o., operating since 2015. It holds a 4.8/5 Trustpilot rating from over 40,000 reviews and has paid out more than $500 million to traders as of 2026. It completed the acquisition of regulated broker OANDA in December 2025, adding regulatory oversight across eight jurisdictions to the FTMO group.
Does FTMO refund the challenge fee?
Yes, but the refund is conditional. FTMO refunds the challenge fee with your first profit payout on the funded account — not when you pass the evaluation. If you pass both phases but breach a funded account rule before your first payout, or never generate a profit on the funded account, you do not receive the refund. This is one of the most misunderstood aspects of FTMO’s model.
How long does FTMO take to pay out?
FTMO processes payouts on a bi-weekly cycle. The average processing time is 8 hours. The first payout is available 14 days after your first trade on the funded account. After the first cycle, you can request payouts on demand. Methods include bank wire transfer, Skrill, and cryptocurrency.
Can US traders use FTMO in 2026?
Yes, through the US route at ftmo.oanda.com, which operates on NFA-regulated infrastructure following FTMO’s December 2025 acquisition of OANDA. Five US states remain excluded. US accounts are MT5 only and operate under FIFO and netting rules. Check FTMO’s current availability page to confirm your state is eligible.
What is the FTMO first-attempt pass rate?
FTMO’s first-attempt pass rate is approximately 10%. This is consistent across account sizes. The most common reason for failure is breaching the 5% daily loss limit — one bad trading session can end the attempt. Removing the time limit in late 2024 has incrementally improved this figure by eliminating rushed, high-risk setups.
Does FTMO allow news trading?
During the evaluation (Challenge and Verification), news trading is fully allowed. On a funded FTMO Account (Normal type), you cannot open or close trades — including Stop Loss or Take Profit triggers — in the 2-minute window before and after high-impact news releases. The Swing account type has no news trading restriction at any stage. If news trading is core to your strategy on the funded account, choose the Swing variant.
What is the difference between FTMO 1-Step and 2-Step?
The 2-Step evaluation uses a static 10% maximum loss — your floor is fixed regardless of how much profit you make. The 1-Step uses a trailing 10% maximum loss that moves upward as your equity grows, leaving progressively less room for a correction after a winning run. The 1-Step starts at 90% profit split from day one. For most traders, the 2-Step is the more manageable path despite requiring two phases.
How many FTMO accounts can I hold at once?
FTMO allows multiple funded accounts simultaneously, but the combined capital allocation is capped at $400,000 per trader or strategy before scaling begins. The cap applies across both 1-Step and 2-Step accounts combined. Through the Scaling Plan, individual accounts can grow to a maximum of $2,000,000.
Does FTMO have a consistency rule?
The 2-Step evaluation has no consistency rule. The 1-Step path applies a 50% best-day rule on funded account payouts — no single trading day’s profit can exceed 50% of your total profits in a payout period. This rule does not apply during the evaluation phase itself.
What happened when FTMO acquired OANDA?
FTMO completed the acquisition of OANDA Global Corporation in December 2025 after receiving all five required regulatory approvals. FTMO founders became OANDA co-CEOs in March 2026. The acquisition brought NFA-regulated US market access back to FTMO traders and added regulated broker licences across eight jurisdictions globally. OANDA operates as a standalone business within the FTMO group.
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