Proprietary Forex trading gives you the freedom to trade with an account-size capital and risk management that’s unthinkable on your own. You’ll be accepted into the funded market after completing a set of challenges that sets you apart as a talented trader. A prop trading account also comes with the firm’s experience, business contacts, and pools of reliable partner brokers.
FTMO is an award-winning prop trading firm with proven legitimacy, offering, among others, a flexible and attractive swing account, albeit with lower leverage. Alternative proprietary funding platforms exist that match their package, including the easy-to-use, sleek user interface. The best FTMO alternative is trader-oriented, with no restrictions on trading conditions and escalated funding.
Since you operate as the prop firm’s remote trading contractor, you’re offered sufficient leverage to create profits. A certain percentage ratio, called a profit split, determines what you take home. Since the beginning of the online prop space, FTMO’s split was 70%, but they now offer 80% default and 90% for swing traders.
That means the firm keeps 20% of the profits, but there are constraints against holding positions and trading during news announcements. Another turn off for many traders is the signup fee, which you pay before undertaking the FTMO challenge. Due to their size, the prop fund also experiences platform freezing, and there have been complaints about the lack of customer support.