FTMO Alternative and Comparison is what we’re going to cover in this video. Let’s get into it. In this video we’re comparing Traders with Edge as an alternative compared to FTMO. At the top here, you can see we have a direct comparison, all $100K accounts, and we’re comparing the Traders with Edge Turtle, the Traders with Edge Hare account, the FTMO Normal Challenge and the FTMO Aggressive Account.
The first thing that we look at is the max account size after scaling. After you’ve been trading the account for a while and you’ve scaled the account up, what is the maximum account you can trade with each firm and each challenge type? With Traders with Edge, you’ve got a $3 million limit on both account types. With FTMO you’ve got a $2 million on the Normal and a 1 million cap on the Aggressive. With both the Turtle and the Hare accounts on Traders with Edge you have rapid scaling plans available, on FTMO you don’t, you’ve just got the traditional scaling plan available. If you’d like to learn more about the rapid scaling plan, then check out the link on our website, which explains more in detail about the rapid scaling and how it works. You can see examples and charts of what it looks like.
Third, you’ll see the number of phases. The Turtle is a one phase or a one step challenge. The Traders with Edge Hare is a two step, same with the FTMO Normal and the FTMO Aggressive. You can see the price in USD. Now, I will say that the FTMO accounts are sold in euros not USD, and so at the time of recording this video we did the exchange rate and that’s the approximate cost of the FTMO account in US dollars. It’s not the exact price that they offer.
If you scroll down, you’ll see if the fee is refundable or not. On the Traders with Edge Turtle account, it’s not refundable, but on the Hare account, it is refundable for people that pass the challenge. Once you pass the challenge and you receive your first payout, you will receive a refund, same as on both FTMO accounts. You’ll see the target for the Traders with Edge Turtle and the Traders with Edge Hare and the FTMO Normal is all 10%. The target for the FTMO Aggressive is 20%. If we keep scrolling down a bit, you’ll see the target for phase Two on the Turtle, there is no target because it’s a one step challenge. Once you pass that challenge, you go instantly into a funded account. With both the Traders with Edge Hare and the FTMO Normal, the target is 5%. And with the FTMO Aggressive, it’s 10% target for the phase Two.
The maximum drawdown on the Turtle account is 5% for phase one and 5% when you’re on your funded account. The Traders with Edge Hare and the FTMO Normal are both 10%, while the FTMO Aggressive is 20%. The daily drawdown limit on the Turtle is 2.5%, whereas the Traders with Edge Hare and the FTMO Normal are both 5% and 10% for the Aggressive. You see the profit share across all accounts is 80%. And if we continue to scroll down, you’ll see the minimum trading days for phase one for all of them is 10 days. The minimum trading days for phase two, the Turtle, obviously there is no minimum trading days because you’re on a live account then, and the minimum trading days doesn’t apply to you. All three other accounts, the minimum trading days is 10 days for the phase two.
The maximum trading days for phase one on the Turtle is 365 days so you get one full year to pass the Turtle trading challenge. And all other three accounts are all 30 days. Maximum trading days for phase two, once again, there is no phase two for a Turtle so it doesn’t apply, and it’s 60 days for all the other three accounts.
Can you hold trades over the weekends? On a Turtle account, yes you can. On the Hare account and both FTMO accounts, you can’t hold trades over the weekend. Can you use EAs on Traders with Edge, both accounts? You can use EAs, but with approval because we don’t want you using the same EAs as someone else. And then you apply and then you’re going to lose your account because of the rule where we don’t want multiple people using exactly the same strategy. It’s best to check with us to start with if you’re going to use an EA. FTMO you can, same thing, they don’t tell you that upfront, but you can use EAs. If you’re using exactly the same strategy as someone else, then they will cancel your account.
All accounts allow signals? Yes. All accounts allow to trade news? Yes. You don’t get a free retry on the Turtle account with Traders with Edge, it’s because it’s a one step account and it’s for one year, so you’ve got one year to pass. If you can’t pass within one year, then you probably shouldn’t be trying to pass a challenge account, to be honest and so there is no free retry for the Turtle account. With the Hare account and the FTMO accounts, yes there is one free retry. It’s the same rule across the board where you do get one free retry on either your phase one or your phase two. If you are in profit, but you didn’t hit the profit target and you didn’t violate any other rules, then you will get a free retry.
Can you Trade FX? Yes to all digital currencies, yes to all, trade commodities, yes to all, trade indices, yes to all and share and stock CFDs, yes to all. Do they have trading competitions? Traders with Edge does have trading competitions. For example, we are running a competition at the moment where we’re giving away three $50,000 Prop Challenge accounts. All you have to do was enter your name and email account to enter into that competition. By the time you see this video, maybe the competition’s still running, maybe it’s finished. What we also do have coming up is trading competitions. Every month you’ll be able to enter a trading competition and trade against each other, and the winners will win prizes. Typically, the prizes will be either cash and/or winning Challenge accounts. At the moment. I don’t believe FTMO has either live trading competitions or giveaways.
Trading education? Yes, FTMO and Traders with Edge both have trader education. With the Affiliate Program, the FTMO Affiliate Program pays 8% on the first purchase when someone purchases through your Affiliate link. And they don’t pay you commission if someone purchases again multiple times. The Traders with Edge Affiliate Program pays up to 20% commission for the lifetime of a client. If someone comes in and they purchase, and then they purchase again in a month’s time or two months time, you still get paid commission on that as well. There are the facts of the FTMO alternative and comparison. If you’ve got any questions post in the video below, or contact us through the website at traderswithedge.com.
