FTMO Review 2026 looks at one of the longest-running names in the prop trading industry. FTMO started in 2015, giving traders more than a decade of operating history to examine before buying a Challenge.
I have followed FTMO for years and traded with the firm myself. My view is simple. FTMO has several strong points, but I do not agree with every rule or every part of its pricing.
The Challenge price is one concern for me. Standard Account news restrictions are another. Your trading style also matters. A scalper, news trader and swing trader will not look at FTMO in the same way.
This FTMO Review 2026 covers the 1-Step and 2-Step Challenges, payouts, Standard and Swing Accounts, news trading rules, risk management, trading conditions, account merging, pros, cons and my current Forex Wave Expert rating.
Forex Wave Expert Rating: 87/100
FTMO Review 2026: Quick Overview
Company: FTMO
Founded: 2015
Review Type: Prop Firm
FWE Rating: 87/100
FWE Category: Top Rated
Risk Assessment: Low
Main Strengths: Long track record, payout structure, account options, trading environment and trader tools
Main Concerns: Challenge price, Standard Account news restrictions and 0.7% currency conversion adjustment on applicable trades
Last Reviewed: October 2026
Reviewed By: Rana Das, Founder & CEO, Forex Wave Expert
FTMO Review 2026 Rating
Why I Still Take FTMO Seriously in 2026
The prop firm market has changed a lot.
New firms appear with cheaper Challenges, large discounts and different evaluation models. Some build a good reputation. Some disappear after a short period.
I do not judge a prop firm from the Challenge price alone.
I want to know how long the company has operated. I look at payout history, rules, account conditions, risk limits, trading freedom and support.
FTMO has a long record in this industry.
For me, this matters.
A cheap Challenge looks good when you buy the account. Clear rules and reliable operations become more important after you start trading.
Trust & Track Record: 19/20
FTMO Review 2026: 1-Step vs 2-Step Challenge
FTMO offers two main CFD evaluation routes: 1-Step and 2-Step.
They are not the same product. Before paying, check which structure matches the way you trade.
FTMO 1-Step Challenge
- Evaluation Phases: 1
- Profit Target: 10%
- Maximum Loss: 10%
- Maximum Daily Loss: 3%
- Best Day Rule: 50%
- Trading Period: Unlimited
- Initial Reward Ratio: 90%
- Verification Phase: No
After meeting the Trading Objectives, FTMO reviews the account before the trader moves forward.
One point matters for swing traders. Swing is not available with the 1-Step Challenge.
If Swing conditions are important for your strategy, 1-Step is not the right FTMO product for this purpose.
FTMO 2-Step Challenge
The 2-Step route is different. First comes the FTMO Challenge, followed by Verification.
- Phase 1 Profit Target: 10%
- Verification Target: 5%
- Maximum Daily Loss: 5%
- Maximum Loss: 10%
- Trading Period: Unlimited
- Initial Reward Ratio: 80%
- Eligible Scaled/Premium Reward Ratio: 90%
The 2-Step product also gives traders access to the Swing account type.
This matters if you hold positions through news, overnight or over the weekend.
FTMO Challenge Price and Value
Price is one of my main complaints in this FTMO Review 2026.
FTMO is expensive compared with many prop firms.
You will find cheaper evaluation fees in the market. Large promotional discounts from other firms can make the difference even bigger.
Does a cheaper Challenge automatically mean a better prop firm? No.
Still, price matters.
If you buy several Challenges during a year, even a modest price difference adds up.
I understand why some traders accept the higher FTMO price. They value the firm’s history, infrastructure, account options and trading tools.
A trader with a limited budget might see the situation differently.
Challenge Price & Value: 9/15
To compare alternatives, visit our Recommended Prop Firms and Forex Brokers page.
FTMO Standard vs Swing Account
This choice deserves attention. I would not select Standard or Swing from leverage alone. Think about how you trade first.
FTMO Standard Account
Standard suits traders who do not need unrestricted execution around selected economic releases.
During the Evaluation Process, the selected FTMO news restriction does not apply in the same way.
Things change after reaching a Standard FTMO Account.
Selected major economic events then have a restricted trading period.
For many day traders, this will not create a major problem. For a news trader, the rule matters a lot.
FTMO Swing Account
I like Swing for longer-term trading.
You get more freedom around economic news. Overnight holding and weekend holding are also available under Swing conditions.
This gives position traders more flexibility.
There is a trade-off. Swing uses lower leverage than Standard for several instruments.
Swing is also available only with the 2-Step Challenge.
Another detail is worth remembering. Do not buy Standard with the idea of switching to Swing later. Choose the account type carefully from the beginning.
FTMO Review 2026: News Trading Rules
News trading is one of the most important parts of this FTMO Review 2026.
The rule is easy to misunderstand.
On a Standard FTMO Account, selected economic events create a four-minute restricted period.
- 2 minutes before the selected announcement
- 2 minutes after the selected announcement
During this period, affected trades must not be opened or closed.
Pending orders matter too.
Stop Loss and Take Profit execution on affected instruments also needs attention.
Suppose you opened a trade well before the news. Keeping the position open is different from closing it during the restricted period.
A Stop Loss or Take Profit triggered inside the restricted window can create an issue under the Standard FTMO Account rules.
This is why news traders need to watch more than manual entries.
The Evaluation Process is different. The selected news restriction does not apply there in the same way.
Swing Accounts also remove this selected news restriction.
For me, Swing makes more sense if your strategy regularly holds positions through major economic announcements.
Trading Rules & Freedom: 12/15
FTMO Review 2026: Payout Process
Payout reliability is one of the first areas I look at when reviewing a prop firm.
Cheap fees mean little if a trader later faces problems receiving a valid Reward.
FTMO refers to payouts as Rewards.
Under the structure reviewed for this article, Reward eligibility starts on the 14th day after the first trade, or on a later day.
Open positions and pending orders need to be closed before submitting the Reward request.
FTMO reviews the account before processing the payment.
The current process described in the material reviewed by FWE states that the review usually takes around 1 to 2 business days.
After approval and completion of the required payout information, payment processing normally takes another 1 to 2 business days after invoice approval.
Payout & Reliability: 14/15
FTMO Reward Ratio
The Reward ratio depends on the product.
- FTMO 1-Step: 90%
- FTMO 2-Step: 80%
- Eligible 2-Step Scaling/Premium Conditions: 90%
The 2-Step structure also supports Reward rollover.
This gives eligible traders a way to leave part of the Reward on the account and build a larger balance and drawdown buffer.
The 1-Step structure does not offer the same rollover feature.
FTMO 0.7% Currency Conversion Adjustment
A newer FTMO rule deserves a place in this review.
FTMO introduced a 0.7% currency conversion adjustment in July 2026.
The adjustment applies when the Profit Currency on MT4 or MT5, or Quote Asset on cTrader, differs from the Account Currency.
The adjustment happens after closing the trade.
On a profitable trade, the adjustment reduces the realised profit.
On a losing trade, the adjustment increases the realised loss.
If no currency conversion is required, the adjustment does not apply.
For example, suppose your account currency is EUR and you trade GBPUSD.
The Profit Currency is USD. Because USD differs from the EUR Account Currency, the conversion adjustment applies when the trade closes.
I would keep this in mind when calculating trading costs.
Some traders will notice the effect more than others. Your account currency and the instruments you trade determine how often the adjustment becomes relevant.
FTMO Risk Management and Trader Concerns
Risk management deserves its own section.
FTMO pays close attention to trading behaviour.
I have also seen trader discussions about warnings linked to aggressive trading, large directional exposure and higher risk on individual trading ideas.
Some traders have discussed risk around 1% to 1.5% or higher.
I do not treat those numbers as a universal FTMO rule.
That distinction is important.
A report from one trader does not automatically become an official rule for every FTMO Account.
If your strategy uses large position sizes or repeated exposure in the same direction, read the terms attached to your account.
My own approach with funded trading is straightforward: keep risk controlled, know your total exposure and do not treat the Maximum Loss limit as normal trading risk.
Risk Rules: 9/10
FTMO Review 2026: Account Merging
This is a feature I like.
A trader who passes several evaluations might end up managing several separate FTMO Accounts.
That gets inconvenient.
FTMO provides account merging for eligible accounts under specific conditions.
Do not assume every account qualifies.
Product type, account status, base currency and other conditions matter.
If your goal is to build a larger FTMO allocation over time, think about account merging before you start trading every account separately.
Account Options & Scaling: 5/5
FTMO Review 2026: Trading Conditions
FTMO provides CFD trading across several market categories.
- Forex
- Indices
- Commodities
- Stocks
- Cryptocurrencies
I still check each instrument separately.
Spread matters. Commission matters. Swap matters. Leverage matters too.
This is especially important for scalpers.
A strategy on EURUSD does not face the same trading costs as a strategy on gold, crypto or an index.
Do not assume one set of trading conditions represents every FTMO instrument.
Trading Conditions: 9/10
FTMO Trading Platforms and Tools
I like FTMO’s analytical side.
Making money is important. Understanding how you made the money is also important.
Suppose your account finishes the week in profit, but your position sizes keep increasing.
The profit number alone does not show the whole problem.
Trading statistics help you see risk, drawdown, consistency and trading behaviour.
FTMO provides Account MetriX and other analytical tools for this purpose.
For traders who review their performance seriously, these tools have value.
Platforms & Trading Tools: 5/5
FTMO Customer Support
Support matters when you have a problem.
Sometimes the issue is technical.
Sometimes you need clarification about news trading, a payout, verification or an account rule.
For an important rule, I prefer getting an answer from official support.
I would not risk a funded account because of something another trader wrote in a Facebook group.
If you are unsure about a rule, ask before taking the trade.
Customer Support: 5/5
What I Like About FTMO in 2026
Long Operating History
FTMO has operated since 2015. For me, this is one of its strongest points. A longer history gives traders more information to study before buying an evaluation.
1-Step and 2-Step Choices
Some traders want a single evaluation stage. Others prefer the structure and rules of 2-Step. Having both gives traders a choice.
Swing Account
Swing is one of the FTMO features I like most for longer-term traders. News restrictions are less of an issue, and overnight and weekend holding are available.
Account Merging
Eligible FTMO Accounts have a merging option, which can make account management easier for traders building a larger allocation.
Trading Analytics
Risk, consistency, drawdown and trading behaviour tell me more about the quality of a trading result than account balance alone.
Payout Structure
The Reward process is documented clearly. Traders can understand when Reward eligibility begins and how the process works.
What I Don’t Like About FTMO in 2026
Challenge Price
Price is my biggest complaint. FTMO costs more than many competing evaluations.
Standard Account News Restrictions
I do not like this rule for news traders. The four-minute restricted window needs close attention, including Stop Loss and Take Profit execution.
Swing Is Limited to 2-Step
I would prefer to see Swing available with more account options. At present, 1-Step traders do not get Swing.
Currency Conversion Adjustment
The 0.7% adjustment introduced in 2026 creates another cost on affected trades. The effect depends on the instruments and Account Currency used.
FTMO Review 2026: Pros and Cons
Pros
- Long operating history
- 1-Step and 2-Step evaluation choices
- 90% Reward ratio on 1-Step
- Swing option with 2-Step
- More news trading freedom on Swing
- Overnight holding on Swing
- Weekend holding on Swing
- Account merging for eligible accounts
- Trading analytics and performance tools
- Several CFD asset classes
- Documented Reward process
- Strong focus on risk management
Cons
- Challenge price is higher than many alternatives
- Standard FTMO Accounts have selected news restrictions
- Swing is unavailable with 1-Step
- Swing has different leverage conditions
- 0.7% currency conversion adjustment affects eligible trades
- Account merging has specific requirements
- Aggressive trading styles need close attention to risk rules
FTMO Review 2026 Rating Breakdown
Compare FTMO With Other Prop Firms
Before buying a Challenge, compare more than price and account size.
Read our The5ers Review for another established prop-firm assessment.
You can also read our direct The5ers vs FTMO comparison.
Browse more companies through our Prop Firm Reviews section.
FTMO Review 2026: FWE Final Assessment
87/100
Top Rated
FTMO is expensive.
I do not want to hide this behind a long list of features.
If you buy several Challenges, the price difference becomes more noticeable.
Still, I would not judge FTMO from price alone.
The company has operated since 2015. Traders have 1-Step and 2-Step routes. The Reward process is documented. There is a Swing option for 2-Step traders, account merging for eligible accounts and useful trading analytics.
The weaknesses depend partly on your trading style.
News traders need to understand the Standard Account restriction.
Swing traders need to choose 2-Step.
Traders using instruments with a Profit Currency different from their Account Currency should remember the 0.7% currency conversion adjustment.
For me, the positives still outweigh the areas where FTMO loses points.
Forex Wave Expert FTMO Rating: 87/100
FWE Category: Top Rated
FTMO Review 2026: FAQ
What is the FWE rating for FTMO in 2026?
Forex Wave Expert currently rates FTMO 87/100. Its long operating history, payout structure, account choices, trading tools and risk framework support the rating.
What is the difference between FTMO 1-Step and 2-Step?
FTMO 1-Step has one evaluation phase with a 10% profit target, while 2-Step uses a 10% Challenge target followed by a 5% Verification target. The products also differ in daily loss limits, Reward ratios and Swing availability.
How much is the FTMO Reward ratio?
The 1-Step Reward ratio starts at 90%. The 2-Step ratio starts at 80% and can reach 90% after meeting applicable Scaling Plan or Premium Programme requirements.
When can an FTMO trader request a Reward?
Under the structure reviewed by FWE, Reward eligibility begins on the 14th day after the first trade or on a later eligible day. Open positions and pending orders need to be closed before submitting the request.
Can you trade news with FTMO?
The answer depends on the account. Standard FTMO Accounts have restrictions around selected high-impact events, while Swing Accounts provide more news-trading freedom. Evaluation conditions also differ.
What is the FTMO four-minute news rule?
On applicable Standard FTMO Accounts, affected trades must not be opened or closed during the two minutes before and two minutes after selected economic announcements. Stop Loss and Take Profit execution also requires attention.
Does FTMO allow weekend holding?
FTMO Swing Accounts provide weekend and overnight holding freedom under Swing conditions. Swing is available with the 2-Step Challenge rather than 1-Step.
Does FTMO charge a currency conversion adjustment?
The material reviewed for this article states that FTMO introduced a 0.7% adjustment in July 2026 when the applicable Profit Currency or Quote Asset differs from the Account Currency.
Why does FTMO receive 87/100 instead of a perfect FWE rating?
The main deductions come from Challenge price, Standard Account news restrictions and other conditions such as the applicable currency conversion adjustment.
FTMO Partner Link
If you have reviewed the rules and believe an FTMO Challenge fits your trading style, you can check the available programs through the Forex Wave Expert partner link.
Forex Wave Expert may receive a commission when a reader registers through our partner link. This commercial relationship does not determine the FWE rating.
Forex Wave Expert Community
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Editorial Transparency
This FTMO Review 2026 is based on the FTMO rules, account conditions and information reviewed by Forex Wave Expert for this article, together with our editorial assessment.
Rules and program conditions can change. Readers should verify the current conditions applying to the exact FTMO Challenge or Account they are considering.
Trader discussions mentioned in this review, including discussions about individual risk levels, are not automatically treated as universal FTMO rules.
Affiliate Disclosure: Forex Wave Expert has an affiliate relationship with FTMO. If a reader registers through an affiliate link on this page, FWE may receive a commission. This commercial relationship does not determine the FWE rating.
Author: Rana Das
Founder & CEO, Forex Wave Expert
Last Reviewed: October 2026
Risk Disclaimer
Prop trading and financial market trading involve risk.
Passing an evaluation does not guarantee future profits or future Rewards.
Account rules, trading conditions and payout procedures can change over time.
Readers should verify the latest FTMO conditions before purchasing a Challenge or trading an account.
This FTMO Review 2026 is provided for educational, research and informational purposes.
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