FTMO Alternatives - Better Proprietary Trading Firms for 2024 (2024)

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Find out the major disadvantages of FTMO Proprietary Trading Firms and alternatives with lower fees and more security. Unbiased FTMO Alternatives reviews.

So which Proprietary Trading Firms are better than FTMO? Want to jump straight to the answer? FunderPro is the best alternative prop firm to FTMO for May 2024 .

FTMO

Overview

FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.

Things we didn't like:

Complaints about the platform freezing
Complaints about lack of customer support

Head to head With ...

  • FTMO vs. FunderPro
  • FTMO vs. the5ers
  • FTMO vs. Topstep

Why would you want an alternative to FTMO?

FTMO may be an all-around box ticker for many traders, but not everyone will be totally satisfied with the FTMO package. The FTMO Challenge fee may be a financial setback to some interested parties. There are traders who may very well have the know-how and confidence to successfully manage the larger accounts but who are understandably reluctant to fork out the initial fee. The FTMO constraints regarding trading during periods of news announcements are a turn-off to many traders as you cannot hold positions over the weekend. That said there is a certain amount of flexibility for the swing account however it comes with lower leverage.

In sum:

  • FTMO has complex rules to comply with, in order to let you manage its capital.
  • After passing the funded account challenge of FTMO, you are still on a simulated or demo account with virtual funds, rather than real money.
  • There are time limits on FTMO challenges and pressures on account holders.

What to look for in a FTMO Alternative?

With the above in mind, here is what we would suggest as an alternative to FTMO: a propriety trading firm that fills in the gaps above. Ideally, you want to keep the good and add the missing features. A scouting site that matches FTMO’s sleek user interface and ease of use. Ideally, you want an innovative platform that is trader-oriented and offers low to no restrictions on trading conditions.

As prop firms grow in popularity you are growing richer in options. If you want to become richer in other ways you may want to be discerning in your choice! Look for an alternative with decent leverage and trading platforms. Ideally, a reputable prop firm whose rules are straightforward, and which offers a fair payout to their successful traders. New platforms that are fresh off the prop firm boat may not yet have built up a successful or eminent reputation of being quite “green.” Just as age doesn’t necessarily go hand in hand with quality, so the newer prop firms without a reputation as yet may also be worth holding judgment and investing time and a one-off fee to test.

When you are after a better proprietary trading firm than FTMO you need to look for the following:

  • After passing the challenge you need to be able to trade with real money and potentially earn real profits or losses.
  • A program that is built on minimal and simple rules increasing your odds of success.
  • There are no time limits on the challenge. You need to can trade at the pace which best suits their preference, skills set and needs.

In sum, when looking for the best proprietary trading firm bear these key qualities in mind: payout scheme, challenge difficulty and rules, reset and refund status, and leverage. After these fundamental pillars, you can then begin to compare the more nuanced differences such as visual interface, platform ease-of-use, and customer support levels. Bear in mind the hours you may be spending using this platform, make sure you are comfortable, and your trading needs are met!

Best FTMO alternatives – Proprietary Trading Firms like (or better than) FTMO

FunderPro

4.8 / 5

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Things we liked:

Exclusive Discount Code (20% Off Exclusive Offer)
Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt

Things we didn't like:

A Relatively New player in the funded account offering

#1

FunderPro Overview

Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.

the5ers

3.9 / 5

Rating breakdown

Challenge Assessment

70%

3.5/5

Trading Fees

90%

4.5/5

Payout Scheme

80%

4.0/5

Things we liked:

Let you trade with leverage of up to 1:30

Things we didn't like:

5%ers Challenge fee is on the higher end of the spectrum
There are other holes in the 5%er offer

#2

the5ers Overview

The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.

Toptier Trader

3.9 / 5

Exclusive Toptier Trader Discount Coupon Check it out! $

Rating breakdown

Challenge Assessment

80%

4.0/5

Support

80%

4.0/5

Trading Fees

70%

3.5/5

Payout Scheme

80%

4.0/5

Things we liked:

Over 2k Trustpilot reviews with an excellent rating
Scaling plan up to $2,000,000
Profit split of 80% up to 90%

Things we didn't like:

Equity-based drawdown on Top Tier Plus accounts
No EAs allowed on Top Tier accounts
No weekend holding on regular Top Tier accounts

#3

Toptier Trader Overview

Founded by trading legends Cue Banks and Anthony (of Anthony’s World) TopTier Trader is a proprietary firm that offers up to $600,000 in funding to traders who pass their 2-stage evaluation. In 2022, TopTier Traders were allocated over $150 million in company capital and the firm is now present in over 108 countries worldwide.

FTMO Alternatives Frequently Asked Questions (FAQs):

Are there any sites like FTMO?

Yes, there are many sites offering similar services to FTMO. These include FunderPro, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Who are FTMO Top Competitors?

FTMO's top competitors in May 2024 are: FunderPro, the5ers and more.FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Which is better FTMO or the5ers?

After assessing the two Proprietary Trading Firms FTMO vs the5ers, objectively, FTMO is more reliable based on our analysis.FunderPro is currently ranked number one on the list of top Forex Prop Firms.

Which is better FTMO or FunderPro?

After assessing the two Proprietary Trading Firms FTMO vs FunderPro on nearly 10 different variables, we would be able to get into an informed conclusion. Objectively, FunderPro is more reliable based on our analysis.

By trading with securities you are taking a high degree of risk. You can lose all of your invested money. You should start trading only if you are aware of this risk. All the opinions expressed on our site by individual author is solely their own and does necessarily represent or correspond to the views of the site’s management. No information or opinion contained on this site should be taken as a solicitation or offer to buy or sell any currency, equity or other financial instruments or services. This is a global website and isn't directed at residents of any particular country or intended for distribution to, or use by, any person in any country or jurisdiction where that distribution or use would be contrary to local law or regulation. Please consider the relevant laws and regulations in your country of residence

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FTMO Alternatives - Better Proprietary Trading Firms for 2024 (2024)

FAQs

Which prop firm is better than FTMO? ›

In our opinion, Funded Next is the best forex prop trading firm now that FTMO has left the US. It boasts up to $4 million in its funding program, has multiple challenge options to select from that make the passing rules not as stringent as some other competitors.

What is the best prop firm in forex 2024? ›

Summary. As we conclude our list, it's evident that Blue Guardian, Funding Pips, UWM, For Traders, and My Flash Funding, each with a Trustpilot rating of 4.8, stand out as the best forex prop firms of 2024 for traders seeking 10K accounts.

Why is FTMO banned in the US? ›

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

Is TopStep better than FTMO? ›

Features Comparison: TopStep vs FTMO

Range of Markets: FTMO offers a wider range of trading instruments compared to TopStep's focus on futures. Profit Sharing: FTMO tends to offer a higher profit share ratio. Educational Support: TopStep provides more structured educational content, especially for futures trading.

What is the best funded trading company? ›

Top 5 Best Funded Trader Programs 2024
  1. Bespoke Funding Program. Bespoke Funding Program is a prop firm where traders come together to help each other grow and succeed. ...
  2. Funded Trading Plus. ...
  3. Trade The Pool. ...
  4. The 5ers. ...
  5. Instant Funding.
Mar 15, 2024

Which prop firm has the lowest fees? ›

Top Best Cheapest Prop Trading Firms
  • 1) Funded Trading Plus.
  • 2) FTMO.
  • 3) TopStepTrader.
  • 4) Fidelcrest.
  • 5) LuxTradingFirm.
  • 6) OneUp Trader.
  • 7) FTUK.
  • 1) Funded Trading Plus.
Apr 4, 2024

Which prop firm has the fastest payout? ›

Who offers the quickest payouts among prop trading firms? FunderPro stands out for its rapid payouts in the prop trading industry. With some competitors taking weeks to process payouts, FunderPro prioritizes swift transactions, ensuring traders receive their earnings promptly.

What is the fastest growing broker in the world? ›

This year, the event attracted more than 3,500 industry experts from 160 countries, with more than 100 speakers from 1,600 companies taking the stage. The highlight of iFX Expo Latam 2024 was the award ceremony, where Fxview was honoured with the title of the Fastest Growing Broker.

What is the best options prop firm? ›

Known for its algorithmic trading strategies and strong risk management framework, Akuna Capital is poised to maintain its position as a leading player in the options prop trading space. Their commitment to cutting-edge technology and data-driven decision-making has consistently yielded impressive results.

How do I choose a prop firm? ›

Before joining a forex prop firm, traders should consider factors such as regulation, reputation, funding options, costs, trading rules, technology, support, profit split, risk management, performance, and compatibility with their trading goals.

Is FTMO trustworthy? ›

Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million. We've also been featured in Forbes and awarded by Deloitte and EY multiple times.

Who is better than FTMO? ›

Yes, there are many sites offering similar services to FTMO. These include FunderPro, the5ers and many more. If you are looking for an alternative to FTMO, FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Why did FTMO leave the USA? ›

In what appears to be related to the latest MetaQuotes crackdown on the proprietary trading landscape, prop firm FTMO has stopped onboarding US clients, Finance Magnates has learned. New traders attempting to register from a US IP address were unable to complete the registration form.

How many people fail FTMO? ›

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

Which prop firm has the fastest withdrawal? ›

Who offers the quickest payouts among prop trading firms? FunderPro stands out for its rapid payouts in the prop trading industry. With some competitors taking weeks to process payouts, FunderPro prioritizes swift transactions, ensuring traders receive their earnings promptly.

What is the success rate of FTMO? ›

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

What is the difference between FTMO and MFF? ›

MFF offers profit splits from 70% to 85% based on account type. FTMO starts at 70% for Normal accounts and can reach 90% profit share for consistent traders. MyForexFunds has a lower barrier to entry for newer traders. But FTMO promotes consistency by keeping rules static across evaluations and verifications.

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