FTUK | Instant Forex Funding | Trader Prop Firm | Learn More (2024)

FAQs

Is FTUK Prop Firm legit? ›

Yes, FTUK is a legitimate company. Here are the contacts to reach them: Email: support@ftuk.com. Address 1: 3017 Boiling Way NE Atlanta, GA 30305, USA.

This is a popular way for traders to prove their skills and potentially secure funding from a prop firm. However, passing this challenge can be quite daunting and requires a lot of hard work and dedication.

That result should look catastrophic for anyone who hopes to join a prop firm. The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

FTUK is a brand name and is privately owned. It does not operate as a Financial Institution of any type, nor is it a Broker, or a Broker Marketing platform, and does not accept Investor's capital. FTUK is aware of the regulatory requirements in the United States of America, and it operates according to those laws.

Apart from only 10-15% of all traders passing prop firm challenges, only about 1-2% of these traders get to keep their funded accounts for a reasonable amount of time. The most significant reason for this is that there are conflicts of interest between traders and prop firm companies, which we will discuss below.

It is estimated that only 4% of Forex traders succeed with prop firm challenges, and only 1% of traders can generate profits consistently without violating any rules.

Around 10% pass

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

How fast can you pass a prop firm challenge? ›

In conclusion, it can take around 4-5 months to pass a prop firm trading challenge and become a funded trader. However, it can take much longer than that to become a profitable trader beforehand – which is a necessity.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy. In this article, we'll break down the 6 most common reasons traders fail prop firm challenges and what you can do to avoid this happening to you.

Access to Capital: One of the most significant advantages of joining a prop trading firm is the access to the company's capital. Traders can leverage the firm's funds, which allows them to take larger trading positions than they could afford with their own capital. This can potentially lead to higher profits.

FTUK works with the EightCap broker, which provides such trading instruments as currency pairs, cryptocurrencies, indices, commodities, and metals. The leverage is up to 1:50 on standard accounts and up to 1:100 on aggressive ones. Account currency is USD, EURO, or GBP.

All traders can request their pay-outs via the Traders Dashboard. A pay-out button will appear on your metrics page in your dashboard when you are eligible to withdraw.

Sure, the firm may replicate successful trades of the funded traders on the firm's real account. But, again, those are trades made by the firm itself with its own capital. And in general, prop firms insist that they are not financial institutions and do not provide financial services.

Yes, reputable proprietary trading firms do indeed pay traders for their profits. While there are scams out there, it's essential to differentiate them from legitimate firms.