FTMO

Overview of FTMO

FTMO, founded in the Czech Republic 2-5 years ago, is an unregulated cryptocurrency trading platform offering access to 60 cryptocurrencies, including Bitcoin, Ethereum, Tether, Binance Coin, Cardano, Solana, XRP, Dogecoin, Polkadot, and Avalanche, with prices spanning from $0.07 to $20,000. Despite a lack of regulatory oversight, traders can trade on the platform with a daily trading volume of approximately $60 billion for Bitcoin alone. However, FTMO lacks transparency regarding its security measures, raising concerns. The registration process involves six steps, from filling out personal details to accepting terms and conditions. Trading fees consist of a taker fee of 0.10%, with a maker rebate of -0.03%, and a monthly maintenance fee of $25. Deposits take 2-5 business days, with varying fees, while instant withdrawals are generally free, except for a 3% fee on certain options.

Pros and cons

FTMO presents distinct advantages and drawbacks. It provides a selection of 60 cryptocurrencies, albeit less extensive than certain competitors. The fee structure involves a 0.10% taker fee and a -0.03% maker rebate, which can be relatively higher than some peers. Diverse deposit and withdrawal methods are available, but users should be aware of associated fees. The profit-sharing program, enabling up to 90% earnings, is accessible through the FTMO challenge. While FTMO supports varied payment options, it exclusively facilitates cryptocurrency trading without fiat currency options.

Cryptocurrencies Available

FTMO offers trading in 60 cryptocurrencies, including: Bitcoin (BTC) \ Ethereum (ETH) \ Tether (USDT) \ Binance Coin (BNB) \ Cardano (ADA) \ Solana (SOL) \ XRP (XRP) \ Dogecoin (DOGE) \ Polkadot (DOT) \ Avalanche (AVAX)

The prices span from $0.07 to $20,000. Notably, Bitcoin, the flagship cryptocurrency, boasts a daily trading volume of approximately $60 billion and a market capitalization of around $390 billion.

How to open an account？

The registration process of FTMO can be completed in six simple steps:

1. Visit the FTMO website and click on the “Register” button to begin the registration process.

2. Fill out the registration form with your personal details, including your name, email address, and password.

3. Verify your email address by clicking on the activation link sent to your registered email.

4. Provide additional information, such as your address and contact details, to complete your profile.

5. Accept the terms and conditions of FTMO and agree to the privacy policy.

6. Once your registration is complete, you can log in to your FTMO account and start trading cryptocurrencies.

Fees

FTMO levies a taker fee of 0.10% and offers a maker rebate of -0.03% for cryptocurrency transactions. Additionally, a monthly maintenance fee of $25 is applicable.

Payment Methods

Deposits typically take 2-5 business days and come with various fees. Instant deposits are free, except for one option which incurs a 3% fee. Withdrawals are generally free for instant transactions, but a 3% fee applies to one option that takes up to 24 hours for processing.

Compare to Other similar Brokers

FTMO stands out by offering trading in 60 cryptocurrencies with up to 100x leverage, along with a taker fee of 0.10% and maker fee of -0.03%. In comparison, eToro offers a wider selection of 500+ cryptocurrencies but with lower leverage of up to 1:30, while Binance and KuCoin offer similar leverage (up to 1:20) with maker and taker fees of 0.1%. FTMO requires an account minimum of $250, eToro stands at $10, while Binance and KuCoin have $0 and $200 respectively. Notably, none of these platforms currently offer promotions.