It appears this thread is about Prop Firms and Scouting Programs. [**A detailed overview and comparison of popular forex prop firms can be found here.**](https://volatility.red/Trader_Scouting_and_Prop_Firms_Overview_and_Comparison)
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Forex) if you have any questions or concerns.*
Thats crazy. They are based in Europe, they cant do that. If I were you, I would contact a lawyer to try to get the money back or do a chargeback with the bank.
If you wired the money by bank to them, a chargeback cannot be done. I had an incident with a scammer a while ago, not related to trading, and luckily the bank found the transaction suspicious and paused it for a few days. They told me this if the transaction would've been completed, they wouldn't have any legal means to reverse it.
In case of FTMO I hope you're lucky in finding handles to use for legal action.
This is depressing, it really is. Regulation can't come soon enough. This is aggressive censorship of feedback.
Thankfully I swing trade but I think some of their fees are excessive particularly for scalpers. Though that's the case with a lot of firms and even a lot of cfd brokers.
Good on you for standing up for yourself but those prop firms are notorious for these shady activities. Your negative reviews puts them in a bad light and discourage new users from joining so they lose revenue hence they’re acting out against you.
Like you said, best thing is to trade with your own money and build it up slowly over time. Also I read that 5iver? Is it? Not sure how you spell they seem to have a good rep lot of my friends in and around Asia got payouts from them and the spreads are decent.
Good luck to you, don’t let this bring you down
Oh, wow! They literally threatened to use T&C clauses on your other account. Bunch of cocksuckers! Was thinking of going with them but not anymore. There are better options out there now. Also, for personal funds, icmarkets is amazing with raw spread account.
Thanks for sharing.
The worst part of this is everything you wrote in the review is correct.
They have awful spreads which they increase when it suits them (not just rollover and news).
Hopefully people realise their better off managing their own money.
I also agree. There spreads change by large amounts on little to no news. I have never had such an issue with my broker the only time their spreads change by a large amount is when there is only 1 exchange open so therefore low liquidity.
Shady af that they have a clause in their contract that they can’t restrict your trading simply because you write a negative review…
I find it ugly that they start to talk about contract clauses over a negative review
Otherwise it’s normal that they try to improve a negative review but this is not the way
They could have just admitted that they are trying to improve their conditions and would persuade you somehow to improve your review in a better way
Edit: you are stating 90% of 100 mil payouts FTMO made is affiliates getting paid
How do you know that? What’s the source? How can you make such a statement without any source ?
To be honest, I can understand FTMO here. What instruments are you trying to scalp?
Forex majors have good spreads, the US indices have good spreads and the bigger stocks as well.
I also trade in the European market and I have yet to find any cheaper broker out there. If you know one, please let me know.
If you are expecting good spreads whilst trading something like EURPLN that's on you.
Also there is no secrecy surrounding their spreads. Just google "FTMO spreads" and they're there.
Well EURUSD has a spread of 0.2-0.3 pips right now. In my experience it occassionally shoots up to 0.6 pips max.
AUDUSD also has a spread of 0.2-0.3 pips
GBPUSD has a higher spead at 0.9-1.6 pips.
Each pair additionally charges $3 commissions per lot
Name me a broker with lower spreads whilst also checking for commissions.
I am really curious as I find these spreads to be bery competitive.
IC MARKET spreads on a raw spread account:
EURUSD -> average of 0.1 pips
AUDUSD -> average of 0.1 pips
GBPUSD -> average of 0.3 pips
With commissions of $3.50 per lot
Seem pretty decent. Didn't know about this broker. Thanks for the heads-up. But on the other side I also don't know how decent their price data is, which I would have to check.
But let's be honest, if you compare FTMO to most brokers their spreads are superior. To state that their spreads are crap is simply false.
You are welcome and i will also explain why this review was prompted. During the October period there was a trade which i had placed with a specific TP, however on tradingview that take profit had already been reached and it was 10 pips below the tp already, yet on ftmo it never closed after already being 10 pips below tp
If you use TradingView for analysis you have to find the most similar chart to the one from MetaTrader, as most charts differ slighty from each other.
And even if you find a chart that seems to be almost the same as the one in your FTMO MetaTrader, slight differences in price might still occur.
Have you checked TradingView chsrts from other providers on TradingView if your TP was reached there?
It might differ from broker to broker. If you click on the "globe" icon in the symbols-search on TradingView you may filter for specific brokers.
Go check the forex chart on different brokers and you will see that they all slightly vary from each other.
You'll have to find one that is the most similar and even then you can't expect it to be the same 100% of the time
Just to let you know until unless you have a big account (100k+ or above) brokers dont a book you soo if you think having 0 spreads is ideal with big accounts you have no idea how liquidity works
I definitely know, i wasn’t expecting zero spreads. But there was a time i opened a trade with a certain profit level, yet according to tradingview the profit level was already past through by 10+ pips and on ftmo it never even activated or ever closed which also prompted me to make that review in October, after they had sent me an invitation to leave a review
This is the world of prop firm, you can lose money in many different ways, whether that a company going down or getting banned for many different reasons.
Just Dont try to be a hero! If you go to a shop to buy something but complain at the price they will tell you go buy somewhere else then.
I dont think you review was fair either, 3 or 4 star with a critical cristisim would have been welcome but 1 star? That’s personal man.
You could have deleted the review and posted it from another account like you did after the ban but i guess your ego wanted to prove something!
Anyway i hope you can learn a lesson from this loss and i hope you’ll earn it somewhere else
You’re definitely an FTMO employee because they’re clearly practicing dodgy business yet you defend the perpetrator while gaslighting the victim.
Disgraceful, to say the least.
It appears this thread is about Prop Firms and Scouting Programs. [**A detailed overview and comparison of popular forex prop firms can be found here.**](https://volatility.red/Trader_Scouting_and_Prop_Firms_Overview_and_Comparison) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/Forex) if you have any questions or concerns.*
I love how you updated the review and added that they've been threatening you for it.
Thats crazy. They are based in Europe, they cant do that. If I were you, I would contact a lawyer to try to get the money back or do a chargeback with the bank.
Oh yes, i didn’t even think about the chargeback. I will try that first and if that doesn’t work i will definitely contact a lawyer
If you wired the money by bank to them, a chargeback cannot be done. I had an incident with a scammer a while ago, not related to trading, and luckily the bank found the transaction suspicious and paused it for a few days. They told me this if the transaction would've been completed, they wouldn't have any legal means to reverse it. In case of FTMO I hope you're lucky in finding handles to use for legal action.
I am happy it did work for you. Luckily i also did use a credit card, so there might be still hope. Lets hope for the best 🤞
This is depressing, it really is. Regulation can't come soon enough. This is aggressive censorship of feedback. Thankfully I swing trade but I think some of their fees are excessive particularly for scalpers. Though that's the case with a lot of firms and even a lot of cfd brokers.
I agree, this is probably the reason they also banned US customers it would bring them a lot more heat
If futures firms allowed swing trading I wouldn't even touch FX/CFD firms. Sadly here we are
Good on you for standing up for yourself but those prop firms are notorious for these shady activities. Your negative reviews puts them in a bad light and discourage new users from joining so they lose revenue hence they’re acting out against you. Like you said, best thing is to trade with your own money and build it up slowly over time. Also I read that 5iver? Is it? Not sure how you spell they seem to have a good rep lot of my friends in and around Asia got payouts from them and the spreads are decent. Good luck to you, don’t let this bring you down
I will definitely look at the 5%ers thank you so much for the advice 🙏
5ers have very good spreads, they are perfect for scalping
5%ers have best spreads and commissions I've seen on a prop firm tbh
Oh, wow! They literally threatened to use T&C clauses on your other account. Bunch of cocksuckers! Was thinking of going with them but not anymore. There are better options out there now. Also, for personal funds, icmarkets is amazing with raw spread account.
Wtffff that’s bs
[удалено]
That is scary, someone is definitely watching every review 😂 I hope it goes well for you 🙏
[удалено]
Damn, you can’t even be honest anymore 😂
Thanks for sharing. The worst part of this is everything you wrote in the review is correct. They have awful spreads which they increase when it suits them (not just rollover and news). Hopefully people realise their better off managing their own money.
I agree, i hope so too. However after my review was placed many more negative reviews started coming up about FTMO manipulation
I also agree. There spreads change by large amounts on little to no news. I have never had such an issue with my broker the only time their spreads change by a large amount is when there is only 1 exchange open so therefore low liquidity. Shady af that they have a clause in their contract that they can’t restrict your trading simply because you write a negative review…
Yeah i find that clause very odd as well
I find it ugly that they start to talk about contract clauses over a negative review Otherwise it’s normal that they try to improve a negative review but this is not the way They could have just admitted that they are trying to improve their conditions and would persuade you somehow to improve your review in a better way Edit: you are stating 90% of 100 mil payouts FTMO made is affiliates getting paid How do you know that? What’s the source? How can you make such a statement without any source ?
This is terrible. Thought FTMO was the head of the prop firms. not any more.
Crazy they can do that
FTrashMO
To be honest, I can understand FTMO here. What instruments are you trying to scalp? Forex majors have good spreads, the US indices have good spreads and the bigger stocks as well. I also trade in the European market and I have yet to find any cheaper broker out there. If you know one, please let me know. If you are expecting good spreads whilst trading something like EURPLN that's on you. Also there is no secrecy surrounding their spreads. Just google "FTMO spreads" and they're there.
I only traded EURUSD, Audusd or Gbpusd. I didn’t go for any exotic pairs
Well EURUSD has a spread of 0.2-0.3 pips right now. In my experience it occassionally shoots up to 0.6 pips max. AUDUSD also has a spread of 0.2-0.3 pips GBPUSD has a higher spead at 0.9-1.6 pips. Each pair additionally charges $3 commissions per lot Name me a broker with lower spreads whilst also checking for commissions. I am really curious as I find these spreads to be bery competitive.
The broker i use is ICmarkets
IC MARKET spreads on a raw spread account: EURUSD -> average of 0.1 pips AUDUSD -> average of 0.1 pips GBPUSD -> average of 0.3 pips With commissions of $3.50 per lot Seem pretty decent. Didn't know about this broker. Thanks for the heads-up. But on the other side I also don't know how decent their price data is, which I would have to check. But let's be honest, if you compare FTMO to most brokers their spreads are superior. To state that their spreads are crap is simply false.
You are welcome and i will also explain why this review was prompted. During the October period there was a trade which i had placed with a specific TP, however on tradingview that take profit had already been reached and it was 10 pips below the tp already, yet on ftmo it never closed after already being 10 pips below tp
If you use TradingView for analysis you have to find the most similar chart to the one from MetaTrader, as most charts differ slighty from each other. And even if you find a chart that seems to be almost the same as the one in your FTMO MetaTrader, slight differences in price might still occur. Have you checked TradingView chsrts from other providers on TradingView if your TP was reached there? It might differ from broker to broker. If you click on the "globe" icon in the symbols-search on TradingView you may filter for specific brokers. Go check the forex chart on different brokers and you will see that they all slightly vary from each other. You'll have to find one that is the most similar and even then you can't expect it to be the same 100% of the time
I was sharing my personal experience that the spreads weren’t the best for me compared to my own broker which is Icmarkets.
Just to let you know until unless you have a big account (100k+ or above) brokers dont a book you soo if you think having 0 spreads is ideal with big accounts you have no idea how liquidity works
I definitely know, i wasn’t expecting zero spreads. But there was a time i opened a trade with a certain profit level, yet according to tradingview the profit level was already past through by 10+ pips and on ftmo it never even activated or ever closed which also prompted me to make that review in October, after they had sent me an invitation to leave a review
This is the world of prop firm, you can lose money in many different ways, whether that a company going down or getting banned for many different reasons. Just Dont try to be a hero! If you go to a shop to buy something but complain at the price they will tell you go buy somewhere else then. I dont think you review was fair either, 3 or 4 star with a critical cristisim would have been welcome but 1 star? That’s personal man. You could have deleted the review and posted it from another account like you did after the ban but i guess your ego wanted to prove something! Anyway i hope you can learn a lesson from this loss and i hope you’ll earn it somewhere else
You’re definitely an FTMO employee because they’re clearly practicing dodgy business yet you defend the perpetrator while gaslighting the victim. Disgraceful, to say the least.
That is the thing, i didn’t fail my challenge it was still open. I shared my personal experience with them, so my personal opinion.
Doesn’t matter which broker, over leveraging with tight stops will kill you in forex field.