Funded Trading Plus (FTP) is a prop firm that provides traders with capital to trade in exchange for a share of the profits. While it has gained popularity in recent years, the reliability of FTP, like any prop firm, depends on various factors including the terms they offer, their reputation, and trader feedback.
Here are some aspects to consider when evaluating FTP:
1. Reputation and Reviews:
Online Reputation: FTP has positive feedback from many traders, particularly in terms of their trading conditions, the capital they provide, and the profit-sharing models.
Trader Experiences: Some traders have had positive experiences with FTP, reporting that they are transparent about their process and payouts. However, there are always mixed opinions in the trading community, with some traders mentioning issues related to rules enforcement, restrictions, or payout delays.
Transparency: FTP is known for clearly outlining their rules, risk management, and profit split, but it's important to carefully read the terms and conditions to ensure you're comfortable with their structure.
2. Trading Evaluation and Funding:
FTP typically requires traders to complete an evaluation (demo account) before being funded, similar to other prop firms. This is a standard process for most prop firms, helping them ensure that the trader can manage risk and demonstrate consistent profitability.
Their evaluation process can be challenging, with profit targets, drawdown limits, and other criteria to meet.
3. Funding and Profit Sharing:
FTP offers a profit-sharing model, typically allowing traders to keep a significant portion of the profits they generate, often around 80% to 90%. This is quite competitive compared to many other prop firms.
Traders usually receive funding after passing the evaluation, and the capital is provided in a simulated or live environment depending on the terms.
4. Costs and Fees:
Like many prop firms, FTP charges a fee for the evaluation process. Traders need to assess whether the fees align with the potential profits and opportunities.
Make sure you compare their pricing to the potential earnings to ensure it makes financial sense.
5. Payouts and Support:
Payouts are crucial to the reliability of any prop firm. FTP has a history of generally timely payouts, but you should check recent reviews to ensure that there are no ongoing issues with withdrawals.
Customer support and responsiveness also play a critical role, and FTP tends to be responsive, but this can vary depending on the volume of traders they handle.
Final Thoughts:
FTP is generally considered a reliable prop firm, especially for traders who are comfortable with the evaluation process and meet their risk management criteria. However, like any trading firm, it’s important to conduct thorough research and read up-to-date reviews to ensure it meets your expectations and trading style.
Before committing, you might also want to test their evaluation process with a smaller account or demo to better understand the rules, requirements, and your experience with the firm.
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