Everything is relative… and so is this question re funded accounts vs your own funds.
A trader who can only afford to start with a $100 account will take quite some time to get his balance up to $10k. If his technique is sound and produces the desired results however, he could use that same $100 to purchase a challenge from one of those funded account people and use their funds to get to $10k in a far much shorter period of time.
On the other hand though many of these funded account people dont accept some strategies such as scalping, so the trader whose technique is scalping wouldnt be advised to take their challenge.
I believe the skills remain the same be it your own account or funded accounts, the only difference here is the fear is decreased in a funded account as the loss of money doesn’t bother the person.
this is all a scam. not even the best hedge fund traders in the world can pass their bogus challenge. Unless by luck and that not more often than once every 5 tries.
In the mean time keep paying these scammers the entry fee. Maybe you will pass one day.
apart from requesting a totally unrealistic profit to drawdown ratio to pass these challenges, the risk parameters are so tight that you gain no extra leverage at all.
Waste of time. If you trade well, then have patience and grow your own funds in time. I have learned the hard way that in forex you need to be very patient, those who rush to make fortunes over night they fail.
im definitely someone that leans more into trading with my own cash because some of these funded companys have weird rules like you have to pay extra to trade during news, holding over the weekend. Also most seem to be on mt4/mt5 and I absolutely can’t stand using that platform. but being able to trade with a much larger amount of money can really changw your life overnight if you actually know how to trade….If there were funded companys on tradingview I’d be all over it
I don’t know if this helps you, but the thing about FTMO that I don’t like is that you are trading on a demo account.
I can’t say for sure about all the others, but they all appear to be very restrictive when it comes your own trading style.
I don’t get you, buddy, why is it a problem rather than trading with 3 figures capital and double it in one year(let’s say from 600€ to 1200€), not trading with 6 figures capital which nowadays you have the opportunity to do that?
And at the end of the day, if you blow the account you will lose only 4 figures, or 3, depends which program you bought.
You can’t teach old dogs new tricks. Some people already have a fixed bias about prop firms. If they fail and see others succeed, hate will be gravitated towards the successors.
“If thou doest well, shalt thou not be accepted? and if thou doest not well, sin lieth at the door. And unto thee shall be his desire, and thou shalt rule over him.”
Ftmo s a legit company. I have a friend that trades one challenge account, and he has a fancy car and a pretty girlfriends, so I am pretty sure it’s on the up and up.
I’m an experienced prop trader and I’ve worked with many firms: My forex funds, FTMO, The Prop Trading, True Forex Funds, etc.
I’ve made money with these funds, but you have to know that they aren’t a good place to get money from.
Prop firms make 95% of their money off of people failing challenges. They do not like people who succeed, just as casinos don’t like people who win too much.
Prop firms build into their rules ways to take your money whenever they feel like it. Usually they have a policy rule that says you can’t trade similarly or identically to other traders. They use this rule liberally to take funded accounts. For example, if you trade the EURUSD and someone else trades the EURUSD that can fall under their definition of similar trading and they can take both fully funded accounts as a result.
They do payout, but are usually quick to take funded accounts under these conditions.
Again, they can work, but generally know that their interests are opposite of yours and mostly they just want to take your money.
FTMO was amazing. Got funded relatively easily in difficult market conditions. Used a trading system around my strategy to keep myself in check. It super easy to build one of these, I wrote a whole book about it.
If you can manage the discipline aspect, funded is definitely better than trying to go on your own with little to no capital cushion.
Choosing between funded accounts and trading with your own funds depends on your individual circumstances, risk tolerance, and trading goals. Funded accounts can be beneficial if you want to trade with limited personal risk or if you don’t have sufficient capital of your own. However, trading with your own funds provides greater independence and control over your trading activities. Regardless of the approach you choose, it’s important to have a well-defined trading plan, implement risk management strategies, and continuously educate yourself to improve your trading skills.
