FTMO Review 2026: the leading prop firm with 1-step or 2-step challenge
As of July 2026, FTMO is the most well-known and established challenge-based prop firm on the market, founded in 2015 in Prague. It offers both 1-step and 2-step challenge paths with unlimited time. The 1-step path delivers 90% profit split from your first reward; the 2-step path starts at 80% and scales to 90%. Accounts range from $10,000 to $200,000, with scaling up to $2,000,000. Its main drawback remains the absence of official financial regulation. For traders seeking immediate access without a challenge under official regulation, RaiseMyFunds remains our top pick.
What is FTMO?
FTMO is a prop firm founded in 2015 in Prague, Czech Republic. With over 300 million euros paid to its traders and a presence in more than 180 countries, it is the most well-known and longest-standing prop firm on the funded trading market.
FTMO's model includes both 1-step and 2-step challenge paths with unlimited time. The 2-step path remains the historical format (Challenge + Verification), while the 1-step path provides access to an FTMO Account after a single evaluation phase with 90% profit split from the first reward.
FTMO is not regulated by an official financial authority, unlike RaiseMyFunds which operates under FSCA licence. Its solid payout history and reputation within the trading community partially compensate for the lack of formal regulation.
Trading conditions in detail
| Parameter | Details |
|---|---|
| Regulation | No official financial regulation |
| Headquarters | Prague, Czech Republic |
| Model | 1-step or 2-step challenge (unlimited time) |
| Account sizes | $10,000 / $25,000 / $50,000 / $100,000 / $200,000 |
| Profit split (1-step) | 90% from first reward |
| Profit split (2-step) | 80% → 90% (Scaling / Reward Growth) |
| Daily drawdown (1-step) | 3% maximum |
| Daily drawdown (2-step) | 5% maximum |
| Overall drawdown (1-step) | 10% EOD trailing |
| Overall drawdown (2-step) | 10% static |
| 1-step profit target | 10% (unlimited time) |
| 2-step Challenge target | 10% (unlimited time) |
| 2-step Verification target | 5% (unlimited time) |
| Scaling | Up to $2,000,000 initial balance |
| Overnight trading | Allowed |
| News trading | Restricted (±2 min around announcements) |
| Expert Advisors | Allowed (except HFT) |
| Platforms | MT4 / MT5 / cTrader / DXtrade |
| Gold (XAU) leverage | Up to 1:50 (Standard) / 1:15 (Swing) |
| Payouts | 1st of the month, $1 minimum |
How does FTMO challenge work (1-step and 2-step)?
Pros and cons
- Solid track record since 2015, over €300M paid to traders
- 1-step path: 90% profit split from first reward
- 2-step path: profit split up to 90% via Scaling / Reward Growth
- Unlimited time on both 1-step and 2-step challenges
- Challenge fees refunded with first payout
- Four platforms available: MT4, MT5, cTrader, DXtrade
- Gold (XAU) leverage up to 1:50 (Standard) / 1:15 (Swing)
- Scaling plan up to $2,000,000 initial balance
- Monthly payouts from just $1 minimum
- Challenge accessible from $155 for a $10K account
- Presence in over 180 countries
- No official financial regulation (unlike RaiseMyFunds)
- Daily drawdown limits (3% 1-step / 5% 2-step) can be restrictive for some strategies
- News trading restricted (±2 minutes around announcements)
- HFT prohibited
- Max account limited to $200,000 (vs $400,000 at RaiseMyFunds)
- Challenge required before accessing funded account
Our scores by criteria
FTMO vs RaiseMyFunds: head-to-head comparison
| Criteria | FTMO | RaiseMyFunds |
|---|---|---|
| Regulation | None | FSCA licence ✓ |
| Model | 1-step or 2-step challenge | Instant Funding |
| Time to capital | After challenge completion | Immediate |
| Max account | $200,000 | $400,000 |
| Max profit split | 90% | 85% |
| Daily drawdown | 5% | None |
| News trading | Restricted | Allowed |
| Consistency rule | Yes | None |
Who is FTMO for?
FTMO is ideal for traders who want to validate their strategy before accessing capital. The 1-step and 2-step paths let traders choose the level of selection they prefer while keeping a disciplined risk framework close to real market conditions.
It is also a good choice for traders seeking a high profit split: the 1-step path grants 90% from the first reward, while the 2-step path scales from 80% to 90% via Reward Growth.
However, FTMO is not suited for traders who want immediate access to capital without delay, nor for those whose strategy is impacted by daily drawdown limits (3% on 1-step, 5% on 2-step) or news trading restrictions. For these profiles, RaiseMyFunds is better suited.
Final verdict
The benchmark challenge prop firm, but not the best overall option
FTMO remains the most reliable challenge-based prop firm thanks to its track record since 2015 and its flawless payout history. The 1-step path's 90% profit split from the first reward, the 2-step scaling to 90%, and challenge fee refund are concrete advantages. However, the absence of official regulation, path-specific drawdown limits, and the $200,000 maximum account place it behind RaiseMyFunds for experienced traders seeking the best overall conditions.
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This review is based on real testing by our analyst team, official website consultation, terms and conditions analysis, regulatory status verification with relevant authorities, and user reviews from Trustpilot and specialized forums. Our complete methodology is detailed on our methodology page. Last verified: July 2026.