The FTMO 200k account or $200,000 is one of the centerpiece offerings from FTMO, the Czech-based prop firm company. In order to receive it, you need to pass a two-stage trading evaluation. If you’re successful, you’ll get to keep 80% of everything you make. Plus, your evaluation fee will be refunded. Read on for more info.
FTMO 200k account
FTMO offers five different account sizes for the evaluation. At the time of writing, the FTMO 200k account is the highest value one. To be precise, the exact account value is $200,000 US Dollars (USD). However, FTMO allows traders to have their accounts in some other currencies as well, for example, British Pounds or Swiss Francs. If you opt to have the 200k account in a currency other than the US dollar, here is your account size depending on the currency.
- Euro (EUR) – €160,000
- Czech Koruna (CZK) – 4,000,000 Kč
- British Pound (GBP) – £140,000
- Australian Dollar (AUD) – $260,000
- Canadian Dollar (CAD) – $240,000
- Swiss Franc (CHF) $160,000
At the time of writing, you can pay for the evaluation in either Euros, US dollars, Czech Koruna, or British Pounds. The 30-day timeframe begins on the day you place your first trade.
Risk mode & leverage
Once you have selected your account size and currency, you can customize the account based on your trading style and strategy.
You can choose between a “Normal” or “Swing” account. The “Swing” account gives you 1:30 leverage and allows you to trade during important news events. It also allows you to hold trades over the weekend. The Normal account offers 1:100 leverage, and you must apply in writing before the Wednesday of that week if you want to hold a trade or trades over the weekend. A full list of the news events during which you may not trade with a normal account is available here.
These restrictions only come into effect once you actually pass the evaluation. Even if you have opted for a Normal account, you can still trade during the news and hold trades over the weekend during the evaluation.
The “Aggressive” risk option is not available on the $200,000 account.
Client
You can choose whether you want to trade with MetaTrader 4, MetaTrader 5, or cTrader.
FTMO 200k account rules
Most prop firm evaluations have strict and clear rules, and FTMO is no exception. The evaluation is divided into two phases, the Challenge, and Verification. Here are the rules for the 200k Challenge:
- You have 30 calendar days to make $20,000.
- You must not lose more than $10,000 in a day.
- You must not lose more than $20,000 throughout the challenge.
- You must trade for a minimum of 10 days.
Note that the closing of a trade does not count towards the minimum trading day rule. If you opened a trade on one day and closed it the next, this would still only count as one trading day.
For the Verification phase, the rules on trading days and maximum losses are the same. Instead, you have 60 days to make $10,000. In other words, you have twice as much time to make half as much.
Is there an FTMO 300k account?
No there is not – the 200k is the largest account size on offer at the moment. However, FTMO’s maximum initial capital allocation is $400,000, so in principle, you could pass the 200k evaluation twice, and then apply to have the two accounts merged. Plus, the company also offers a free 14-day demo account, which allows you to test your trading under FTMO Challenge conditions. You can choose from any of the settings above, such as the account type, size, and currency. It’s free, and you don’t even need to provide any payment details to get it.
However, there is such an offering from My Forex Funds, the Canadian prop firm. For more info, take a look at My Forex Funds 300k Challenge is Here!
What happens if I fail?
If you breach one of the rules, such as the maximum loss limits, then you’ll fail the evaluation and forfeit your fee. FTMO doesn’t unfortunately offer any discounts for repeated attempts. However, if you finish the evaluation with the account even as little as one cent in profit, you’ll be entitled to a free retake. And if you’re 5% up towards the end of the Challenge, you may be entitled to a free 14-day extension.