Who Is Better Than FTMO?

FTMO, or Funded Trader Management Organization, is one of the popular prop trade firms that focuses on providing traders with a sound infrastructure and even ensures real-time monitoring. FTMO is quite popular among traders, with over 3 million users across 140 countries. What’s interesting is that FTMO has its own mobile app for the convenience of its traders. This article will not specifically focus on FTMO. Rather, here we will mention the competitors of FTMO, or rather talk about the firms that are a step ahead of this prop trading firm. So, let’s get started. 

FTMO -The Pros and Cons

Before mentioning the competitors, let us look at the advantages of prop trading with FTMO. We will even look at the areas where FTMO  lags behind. 

The Pros

Here are some of the advantages of trading with FTMO:

• When you trade on small-sized accounts, the results yielded are quite insignificant. FTMO offers trading on large-sized accounts, which may result in better gains. 
• If trading with FTMO, the greatest boon is that you have a large community at hand. 
• FTMO has 24/7 client support to help you with your queries around the clock.
• If you are a beginner in the prop trading field, FTMO will be quite ideal to serve your purpose. They provide a Free trial for their new clients who can get an insight into the functioning of the trading process. It will even help them assess their skill and understand if they can take the FTMO challenge and verification. 
• It offers an average profit payout of 80%, which is quite decent. This trading platform also provides traders with coaching, workshops, and webinars for their convenience. 

The Cons

Here are some of the drawbacks of FTMO to keep in mind: 

• The rules are stringent, making it a little challenging.
• The evaluation fee of this trading platform is quite high. 
• FTMO isn’t accepting US clients anymore which indeed is a major setback for American traders interested in FTMO. 

Which Companies Are On Par With or Better Than FTMO?

Let’s get to the main point now. If you don’t wish to invest in prop trading with FTMO and are on the lookout for a better option, which one will you choose? If you are looking for an alternative, here is what to consider: 

• Upon the successful completion of your trading challenge, the company will allow you to trade using real money, wherein you can reap profits or even incur some losses. 
• Choose a trading platform with flexible and simple rules. 
• Always go for a prop trading firm that doesn’t have any limits to complete the challenge. It should allow you to trade at a moderate pace. 

Now, let’s look at the prospective firms: 

1. FunderPro

The one that we choose to talk about first is FunderPro. This is quite new to business, created in 2022.  However, in a short span, it has gained positive reviews because of the interesting trading options it provides. 

What is Good About FunderPro?

Here are some aspects that make FunderPro an ideal trading platform: 

• FunderPro is quite flexible regarding its payout process. Any trader who has accumulated a profit of at least $100 can request a payout. Multiple payouts may be requested for in a single day. Some traders have mentioned getting 11 payouts in a fortnight. This is something not available with FTMO, where traders can withdraw their rewards between 14 and 60 days from the time they’ve traded on their FTMO account. 
• The average payout processing time can be as little as eight hours.
• Scaling happens based on how well you have traded. FunderPro may scale your funded account to as much as $5,000,000. 
• It offers several trading instruments and a high-profit split as well.
• You may reset or retry any challenge as much as you wish for a rebated price. 
• If you lose a challenge, you may retry the same within 24 hours of losing the same. 
• There isn’t any requirement for the minimum number of days to trade, which makes the trading process way too relaxed

Where Does FunderPro Lag?

If you want to know the aspects where FunderPro needs to work, here are the same:

• One of the biggest setbacks of FunderPro is that it doesn’t offer any free trial, unlike FTMO. 

2. FundedNext

Funded Next is another interesting prop trading firm that traders may engage in as a substitute for FTMO. FundedNext is good in many ways, which we will look into here. 

What is Good About FundedNext?

Here are the pros of FundedNext to take into account when investing in it. 

• It is perhaps the only prop trading firm to provide its customers with a profit share of 15% right from the challenge phase profits. 
• It hosts a monthly competition free for its customers where they may compete and win attractive rewards.
• The spreads begin from 0.0 pips, while its leverage rate is pretty good at 1:100. 
• You can restart your account through a top-up or reset even upon violating the rules.
• What gives traders relief is that FundedNext has no time limits. This helps traders to trade freely and with ease.
• It offers an exclusive discount code of as much as 25%. 
• You will get paid within 24 hours. If that doesn’t happen, they will pay you $1000 extra. 
• It has provisions for a free trial, giving traders a chance to understand the process and trade conveniently. There’s a fourteen-day trial period during which traders have to trade for at least three days. 
• They have customer service support available 24/7. 

Where Does FundedNext Lag?

Here are some drawbacks of FundedNext to note:

• Certain policies are quire strict. For instance, traders get a deadline of fourteen calendar days from their first trade date. This timeline is given to achieve their profit target. If unable to do so, the account gets disabled automatically. 
• You have to trade for a minimum of five days, which makes trading a bit stringent.

3. BlueBerry Funded

Another prop trading firm on our list is BlueBerry Funded. This one is a broker-backed prop trading firm. 

What is Good About BlueBerry Funded?

Here are the goods about BlueBerry Funded:

• They cater to the needs of novice and experienced traders. 
• BlueBerry has a high profit split of as much as 80%.
• You get your earnings after every fortnight.
• The amount is processed within two business days. 
• You must trade for a minimum of three days, unlike FTMO and FundedNext, where five-day trading is a mandate. 

Where Does BlueBerry Lag?

The drawbacks are as follows: 

• The trading instruments are limited.
• It has a lack of proper resources to assist traders. 

4. OFP Trading

The best part about OFP Trading is that it offers instant trading without any challenges. Let’s know more about it.

What is Good About OFP Trading?

Here are the advantages to know: 

• There aren’t any challenges to take part in before starting trading.
• You get your payout in four days.
• You have the option to choose from various currencies.
• It is transparent and reliable, allowing traders to trade seamlessly and hassle-free.
• You can enjoy a maximum profit split of 95%, 
• You can begin with accounts of a range of around £5,000 that can be scaled up to £5 million. This gives you an immense growth opportunity. 

Where Does OFP Trading Lag?

Here are the drawbacks:

• The targets may be difficult to hit at times. 

5. FXIFY

Another trusted prop trading firm that traders can rely upon is FXIFY. There are numerous boons and a few banes. Let’s check those out. 

What Is Good About FXIFY?

Let us look at the pros first: 

• When you choose account sizes of as much as $50k,you get to earn a maximum profit split of 90% from the first day.
• You may trade on multiple trading platforms. 
• This one is broker-backed.
• They have the availability of bi-weekly payouts. 

Where Does FXIFY Lag?

Here are some drawbacks to consider: 

• The evaluation process, according to some traders, is a little difficult.
• There isn’t any instant withdrawal of profits. It will take as long as two weeks. 

6. City Traders Imperium

City Traders Imperium also has lucrative offers, making it an amazing prop trading firm for many looking for an alternative to FTMO. 

What Is Good About  City Traders Imperium?

Here are the advantages to make note of:

• Get paid in 24 hours.
• The fees are low compared to most other firms.
• It has several add-ons sans extra cost.
• There’s a program available for every style of trading. 

Where Does City Traders Imperium Lag?

The drawbacks are as follows:

• There’s a restriction in its trading strategy.

7. The 5%ers

5%ers is another significant prop trading firm on the list, offering a low-risk trading program.

What Is Good About The 5% ers

Here are some of the advantages to take into account:

• You can start with a low capital of as little as $39.
• They host webinars and lectures for free for the benefit of traders.
• They offer a prop trading course as well. 
• There is no recurring or hidden cost. It’s just a one-time fee that you must pay.
• You will get all the support you need through live chat, email, phone or even form submission. 

Where Does The 5% ers Lag?

Here are some of the cons:

• Many mentioned that the pricing models are unclear. There’s a lack of transparency in this regard. 
• If you haven’t traded for more than fourteen days, go to your dashboard and press the freeze button. This way, you may avoid an inactivity penalty. 

Conclusion 

So, if you are on the lookout for an alternative or substitute to FTMO, here are some of the options to note. Before starting to prop trade with any firm, it is always to analyze the reviews and ratings and what other traders have to say about the same. It is better to invest with a prop trading firm that has transparent and flexible policies, allowing seamless trading.

Faqs