LMAX is what they offer for US traders.
We offer all US clients the best trading solution in the form of our MT4 accounts powered by data-feed directly from LMAX liquidity provider. We give you, our trader, the best account conditions with super-raw spreads, no markup and a very low commission.
–What brokers do you offer? - FTMO.com
ok thanks! After reviewing the details… since there’s no out of pocket costs besides the evaluation fee, it seems like an interesting option for some.
But a typical month contains 4 weeks, and so a typical trading week contains 5 days, especially for me in trading mostly US indices.
So that’s basically 2 weeks of required trading, and 2 weeks off. Love the 2 week vacation every month, and I mainly daytrade so 10 days of new trades is for the most part OK too - but if I ever decide to swing trade on the daily chart - not a chance I make my trading days quota unless I stack .01 positions just for the numbers game part (which if I’m doing my job right, I’ll get a 10 day swing trend once a month at the minimum)
But I’m quite some time away from trading indices on the D1, so I could definitely treat this like a temp job trading for a prop firm (which it actually is), deal with the time quota and use their 100k to build my own account with Interactive Brokers if I wanted to, then leave if I wanted, and come back if needed.
Still doing my research. Lots of good info.
Yes, I confirmed in chat last night. I believe the US restriction is LMAX is your only choice. That’s good as LMAX is one of the best options globally, IMO
I have seen other traders comment about this, and do just that. I might say that for long-term trades, you might consider doing that with your personal account, but I believe that the swaps for LMAX are a lot better. I personally do not pay much attention to that, though, since I am in and out of the market very quickly.
I agree with the last quote above. The prop trading option being discussed here is a viable way of escaping the CFTC’s stranglehold on retail forex trading. As such, in my view, it conforms to the focus and objective of this thread.
ok the thread is alive and kicking so who’s gonna be the first to dive in with FTMO
sounds like grandpipmaster has already started the process.
Unless something changes, I also plan on doing the challenge. I just do not know when that will be because I am just so busy with other things at the moment.
A few things that I wanted to mention about FTMO:
I was originally looking at the 50K Aggressive plan, but determined that it does not actually provide any benefit over the 100K Normal plan. Maybe someone can prove me wrong on that.
My plan is to eventually combine (3) 100K accounts, just for the additional padding, allowing me to have 15K daily max loss. This would allow more breathing room and heavily-reduce any chances of losing the account.
Correct me if i’m wrong if one of those 3 account exceed 5k drawdown at 5pm close you lose that account so how will that give you 15k max daily lost
14999.97 
Is no one concerned about fully disclosing their system with every entry and exit plus timestamps?
Summarizing, FTMO and everything similar, stink.
wtf you talking about
When you opt to combine the accounts, that’s 5% draw-down on 300K. I confirmed this with support, because this was important for me. Likewise, if you double that 300K in 16 months by scaling out, your draw-down would also double. And by scaling out, I mean following their scaling plan, not compounding profits. Keeping profits does affect your maximum loss allowance as well as maximum daily losses, but since the daily losses get reset each day, you will always be facing 5% maximum draw-down on the initial balance unless you grow your ‘base’ balance, with the ‘base’ balance being anything that FTMO gives you to trade with.
I did consider this, but I think that I do not care. I also considered the fact that they could be trading a MUCH larger volume on my trades than 300K, especially if I develop a good track record. Also does not matter to me so long as the slippage does not interfere with my trading.
It would seem reasonable to feel that way for someone that manages funds privately or already has a large account to trade with…it is definitely not the best option for everyone. Although, I do think that there might be some benefit to the additional layer of anonymity that trading via a firm like FTMO might offer; less pressure and accountability, especially knowing that you can just create a new account and start over without any repercussions, should you hit your maximum draw-down.
Daily loss limit is 2.5K,not 5K.
Because of low drawdown limit, the money you can use is actually much less than lts face value.
For Lmi, a 50000 account is actually equal to a 10000 account, due to 2% daily loss limit. That means you need to trade it like a 10000 account to avoid breaking the rule.
For FTMO, a 50000 account is equal to a 25000 account.
Now think it this way, FTMO profit target is 5000, because you trade it like a 25000 account,it is 20% profit a month,900% a year.Maybe there are people in this world who can make 900% a year, but can they do this while keep their account drawdown below 20%?
After reading everyone’s comments about the FTMO option, I may consider it. However, all my stuff is written for MT5; it would take some serious work, time, and effort for me to create MT4 versions. Although, that is something I want to do in the future—to have access to brokers that only offer MT4. Also, the not trading during certain times, news, etc. wouldn’t work for me. So for me, I need MT5 accounts, and the freedom to trade anytime I want. Hmm, I might be able to use a trade copier that supports sending from MT5 to MT4, but the limits on when I can trade might be an issue for me. How far out do they post their trading restrictions schedule? Also, anyone know of a good trade copier that supports MT5 to MT4? Thanks!
If you can make 900% a year while keep your drawdown below 20%, there is a better way to do it.
Go to a forex singal provider site, link your broker account with their platform and send them your trade signals. You will get hundred or thousand of subscibers and tons of extra money.
Or you can go to collective2 and get several hundred subscribers ,each paying you $300/month.
here are some funded traders thru FTMO
https://www.youtube.com/results?search_query=ftmo+funded+trader
For a 100K account, the daily loss limit is 5K.
But it’s not. Just because you have to follow the draw-down requirements does not mean that you do not have 50K purchasing power, and therefore, profit potential.
The profit target is 10% in 30days on a 100K account, and that ONLY applies to the challenge. The verification is 5% in 60days. The funded account does not have a profit target.
I’m not sure yet. Maybe you could ask support. I do believe that not all news releases have a 4-minute, prohibited trading window.
Yes, many youtube-traders doing FTMO right now. There are other channels that show the whole process and some that are already funded and making real money. Worth checking out for anyone that is interested.
Interesting concept. Although I was aware of the possibility, I never knew how it all worked. Thanks for sharing. I wonder how this could impact scalpers with regard to slippage, though?