FTMO Review 2026: Challenge Rules, Fees, Payouts & Prop Trading Verdict
FTMO is the oldest and most established proprietary trading firm in the retail space. Founded in 2015 in Prague, it has paid out over $200 million to funded traders — more verified payout proof than any competitor. This review breaks down every fee tier, challenge rule, payout mechanic, and scaling milestone based on hands-on testing.
Total Payouts Since 2015
Profit Split to Trader
Max Allocation (Standard)
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How FTMO Works: The Two-Step Evaluation
FTMO’s evaluation consists of two phases. Pass both, and you receive a funded account with simulated capital. Your profits are split 80/20 in your favour (rising to 90/10 through the Scaling Plan). The fee you paid for the challenge is refunded with your first profit withdrawal.
| Phase | Profit Target | Max Daily Loss | Max Total Loss | Min Days | Time Limit |
|---|---|---|---|---|---|
| Phase 1: Challenge | 10% | 5% | 10% | 4 days | No limit |
| Phase 2: Verification | 5% | 5% | 10% | 4 days | No limit |
| Funded Account | None | 5% | 10% | — | No limit |
No time limit on either phase is a significant advantage. Most competitors impose 30–60 day deadlines. FTMO lets you trade at your own pace.
FTMO also offers a 1-Step Challenge (single evaluation). No fee refund, but profit split starts at 90%. Suits experienced traders.
FTMO Challenge Fees: Full 2026 Pricing
| Account Size | Standard Fee | Aggressive Fee | Fee % | 5% Loss | 10% Loss |
|---|---|---|---|---|---|
| $10,000 | €155 (~$183) | €250 (~$295) | 1.55% | $500 | $1,000 |
| $25,000 | €250 (~$295) | €345 (~$407) | 1.00% | $1,250 | $2,500 |
| $50,000 | €345 (~$407) | €540 (~$637) | 0.69% | $2,500 | $5,000 |
| $100,000 | €540 (~$637) | €1,080 (~$1,274) | 0.54% | $5,000 | $10,000 |
| $200,000 | €1,080 (~$1,274) | — | 0.54% | $10,000 | $20,000 |
The $100K Standard account offers the best fee-to-capital ratio at 0.54%. All fees are one-time and cover both Challenge and Verification phases.
The challenge fee is refunded with your first funded-account profit withdrawal — not when you pass. FTMO effectively costs nothing if you succeed.
Risk Rules: The 5% Daily Loss Limit Explained
Every FTMO failure comes down to breaking one of two rules: the 5% daily loss limit or the 10% maximum total loss.
The 5% daily loss rule resets daily based on your starting equity or balance (whichever is higher). Unrealised losses from yesterday count against today’s limit.
Worked Example: $100,000 Account
| Scenario | Closed P&L | Floating P&L | Daily Loss | Status |
|---|---|---|---|---|
| Normal day | +$800 | −$1,200 | −$400 | ✓ Safe |
| Overnight reversal | +$1,500 | −$6,700 | −$5,200 | ✕ Breach |
Profit earned earlier does not increase your daily limit. The limit is fixed at day start. A morning gap can breach your limit before you wake up.
The 10% max total loss is static (not trailing). On a $100K account, equity must never fall below $90,000.
Payouts and Scaling Plan
Payouts on a 14-day cycle. Request withdrawal after 14 days from first trade, in profit, no open positions. Processing: 1–2 business days.
| Milestone | Requirement | Benefit |
|---|---|---|
| First payout | 14 days, in profit, no open positions | 80% split + fee refund |
| Scaling eligibility | 10% net profit / 4 months, min 2 payouts | Balance +25% |
| Second scale-up | Continued consistency | 85% profit split |
| Third scale-up | Continued consistency | 90% profit split |
| Maximum | — | $400K → $2M via Scaling |
$100K account, $8,000 profit: ($8,000 × 0.80) + €540 fee refund = $6,940 total first withdrawal.
Account Types: Standard vs Swing vs Aggressive
| Feature | Standard | Swing | Aggressive |
|---|---|---|---|
| Profit target (Challenge) | 10% | 10% | 20% |
| Daily loss limit | 5% | 5% | 10% |
| Max total loss | 10% | 10% | 20% |
| Leverage (Forex) | 1:100 | 1:30 | 1:100 |
| News trading | Restricted | Allowed | Restricted |
| Weekend holding | Not allowed | Allowed | Not allowed |
| Max scaling | $400K → $2M | $400K → $2M | $200K |
FTMO Pros and Cons
✓ No time limit on Challenge or Verification
✓ Fee refunded with first profit withdrawal
✓ Static drawdown (not trailing)
✓ MT4, MT5, cTrader, DXtrade
✓ 1–2 day payout processing
✓ Free 14-day trial available
✓ Survived regulatory scrutiny
✕ $400K max allocation initially
✕ 5% daily loss limit is strict
✕ No 1-step challenge fee refund
✕ US excluded from MetaTrader/cTrader
✕ No reactivation after breach
✕ Most traders fail and lose fee
Final Verdict
4.8
Based on hands-on testing
FTMO remains the gold standard in prop trading. $200M+ payout track record, unlimited time, fee refund on first withdrawal, and scaling to $2M. If you are disciplined and have a proven strategy — FTMO is the strongest option in 2026.
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