FTMO is the firm most traders measure others against. Founded in 2015 in Prague, it popularised the two-phase challenge, and its rules have stayed clearer and more stable than most. It isn’t the cheapest option, but for South African forex and CFD traders who want a predictable rulebook and a proven payout record, it remains our top overall pick.
How the FTMO Challenge works
FTMO now offers two routes to an FTMO Account, with sizes of $10,000, $25,000, $50,000, $100,000 and $200,000.
2-Step (the classic route). Phase 1, the FTMO Challenge, needs a 10% profit. Phase 2, the Verification, needs 5%. Both phases use the same loss rules: a maximum daily loss of 5% and a maximum loss of 10% of the initial balance. The 10% limit is static, so on a $100,000 account your floor stays at $90,000 however much profit you make.
1-Step (launched February 2026). A single 10% target with a tighter 3% daily loss and a 10% trailing maximum loss. The 1-Step also has a Best Day Rule: your best day can’t be more than 50% of your positive days’ profit, both to pass and to be eligible for rewards.
There’s no time limit on either phase. The daily loss limit counts equity, including open positions, swaps and commissions. Check FTMO’s help centre for the exact daily reset time.
Pricing
FTMO prices in euros. For the 2-Step, standard fees run from €89 to €1,080 depending on size, with the $100,000 account listed at €540 and sometimes discounted. The fee is refunded with your first reward once you’re funded. Because you pay in EUR, the cost in rand moves with the exchange rate and your card’s conversion fee.
Profit split and scaling
FTMO Traders receive 80% of profits, rising to 90% through the Scaling Plan, which also grows your account balance after consistent profitable periods. There’s no profit target on the FTMO Account itself.
Payouts
The first reward can be requested 14 days after your first trade on the FTMO Account, then on a bi-weekly cycle or on demand. Payouts are usually processed quickly. Methods include bank transfer (minimum $20), Skrill and crypto (minimum $50). Your first reward includes the refund of your challenge fee.
Trading rules and strategies
EAs and automated trading are allowed, which makes FTMO one of the better homes for algorithmic traders. As with any firm, strategies that exploit the simulated environment, such as latency arbitrage or copying other people’s trades, are prohibited. Read the account-type terms if you trade news or hold over weekends, because conditions differ between account types.
Platforms
FTMO supports MetaTrader, cTrader and DXtrade. Check the current platform list at checkout, since availability has shifted across the industry since 2024.
Trading FTMO from South Africa
Can South Africans use FTMO?
Yes. FTMO accepts South African residents for all its challenges.
Paying the fee in rand
The €540 $100K 2-Step is priced in foreign currency, so the rand cost depends on the exchange rate on the day and your card’s foreign transaction fee. Paying for an offshore service by card counts toward your annual offshore allowance under South African exchange control, which covers most traders’ challenge fees comfortably.
Getting paid in South Africa
FTMO charges fees in euros and pays rewards in USD or EUR by bank transfer, Skrill or crypto, so there’s a currency conversion on the way out and on the way back.
Best trading hours in SAST
The London session opens at 09:00 or 10:00 SAST depending on UK daylight saving time, and the London–New York overlap runs through mid-afternoon, which suits South African traders who trade before or after work.
Tax on FTMO payouts
SARS generally treats prop firm payouts as income, not capital gains, and you must declare them even though no tax is deducted. Because the income isn’t a salary, you’ll usually need to register as a provisional taxpayer and submit IRP6 returns, with payments due by the end of August and the end of February. Convert each payout to rand at the rate on the day you receive it, keep records of fees you’ve paid, and speak to a tax practitioner. This isn’t tax advice.
Regulation
FTMO isn’t authorised by the FSCA. The FSCA supervises brokers and financial services providers, while prop firms that sell evaluations on simulated accounts generally fall outside its licensing. That’s legal for South Africans to use, but it means no FSCA complaint route or ombud cover if something goes wrong, so a firm’s track record matters.
Reputation
With a decade of operation, FTMO has one of the longest records in retail prop trading. Complaints tend to focus on price and on accounts breached by the daily loss rule rather than on refused payouts.
Who FTMO suits
FTMO suits traders who value clear, stable rules and room to breathe: the 2-Step’s static 10% maximum loss is one of the most forgiving in the industry. EA traders are well served. Budget-conscious beginners may prefer cheaper firms to practise before paying FTMO prices.
FTMO FAQ
Is FTMO legit?
Yes. FTMO has operated since 2015 from Prague and has a long record of paying traders. Like other prop firms it uses simulated accounts and isn’t authorised by the FSCA.
What are the FTMO Challenge rules?
On the 2-Step, you need 10% in Phase 1 and 5% in Phase 2 without losing more than 5% in a day or 10% overall. The 1-Step needs 10% with a 3% daily limit and a 10% trailing maximum loss.
Does FTMO refund the challenge fee?
Yes. The fee is refunded with your first reward from the FTMO Account.
Does FTMO allow EAs?
Yes. Expert Advisors and automated trading are allowed, but strategies that exploit the simulated environment are prohibited.
Can South Africans use FTMO?
Yes. FTMO accepts South African residents for all its challenges.
How are FTMO payouts taxed in South Africa?
SARS generally treats prop firm payouts as income that must be declared, usually through provisional tax (IRP6). Speak to a tax practitioner about your situation.