The FTMO 10K Challenge is a popular program offered by FTMO, a forex proprietary trading firm. The program allows traders to showcase their trading skills and potentially become funded traders with FTMO.
Below are the general rules of the FTMO 10K Challenge:
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- The FTMO 10K Challenge is open to all traders, regardless of their location or trading experience.
- To participate, traders must register for the challenge on the FTMO website and pay a one-time fee of $155.
- Traders will then be given access to a demo trading account with a starting balance of $10,000.
- Traders have 30 days to reach the profit target of 10% ($1,000).
- Traders must adhere to the maximum daily loss limit of $500, and the account must not be completely drawn down at any point during the 30-day trading period.
- Only forex trading is allowed, and traders are not allowed to use expert advisors (EAs) or copy trading.
- After successfully completing the challenge, traders will be evaluated by FTMO, and if they meet the evaluation criteria, they will be offered a funded trading account with FTMO.
- The evaluation criteria include meeting the profit target, adhering to the daily loss limit, and demonstrating a consistent and disciplined trading approach.
- Funded traders will receive a share of the profits they generate, typically between 70% and 80%, with the remainder going to FTMO to cover their costs.
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It is important to note that the rules of the FTMO 10K Challenge are subject to change, and traders should always refer to the official FTMO website for the latest information.
Ftmo 10k challenge fee
The fee to participate in the FTMO 10K Challenge is a one-time payment of $155. This fee covers the costs of setting up the demo trading account, providing access to the trading platform, and evaluating traders who successfully complete the challenge.
It is important to note that this fee is non-refundable, even if a trader does not meet the profit target or fails to complete the challenge within the 30-day period.
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However, if a trader successfully completes the challenge and meets the evaluation criteria, they will be offered a funded trading account with FTMO, and the fee will have been a worthwhile investment in their trading career.