When choosing a firm to trade with proprietary rules, it is important to choose one that has trader-friendly rules. FTMO has for a long time been one of the big names in this industry but new companies such as Funded Elite give traders a unique edge by offering better than FTMO rules. In this article, we shall compare the rules of FTMO and Funded Elite, in particular the conditions of the latter which may be more advantageous.
The evaluation process of FTMO is meant to check on the trader’s risk management and profitability. Key components include:
The profit target that a trader is required to reach is 10% of the initial deposit within 30 days of the FTMO Challenge.
Maximum Daily Loss: This is 5% of the initial account balance. For example, on a $200,000 account, the maximum daily loss is $10,000.
Maximum Loss: The initial account balance is the maximum amount that is allowed to be lost.
These rules are quite strict, thus, the traders are required to be very cautious with their risk management to avoid exceeding the set loss thresholds.
Funded Elite has put in place trading rules that are favorable to the traders and give them a chance to grow. Notable aspects include:
Profit Target: Funded Elite’s profit targets are set at 8-10% of the account balance, which is in line with the industry norms.
Drawdown Limits: The company has provided for balance increases and increased drawdown limits on the dynamic scaling plans that are available for traders who make successful payouts.
Profit Split: Traders get to keep 80% of the profits and this can increase to 90% as the trader moves up the ranks, which is better than most other competitors.
These rules are created to help traders to grow and make profit and are therefore more advantageous than FTMO’s rules.
WIn terms of the rules of the two firms, there are some reasons why the rules of Funded Elite are better than those of FTMO:
Flexible Drawdown Limits: Funded Elite’s dynamic scaling system means that drawdown limits will increase as traders make payouts, giving traders more freedom than FTMO’s fixed maximum loss.
Higher Profit Potential: With the ability to reach a 90% profit split, Funded Elite gives a better return than FTMO’s typical profit-sharing structures.
Supportive Growth Environment: The company’s focus on balance increases and more frequent payouts as the traders do well creates a conducive environment for growth in the long run.
Funded Elite doesn’t just compare itself to FTMO, majority of the prop firms found on prop firm match don’t hold a candle to the trading conditions provided by Funded Elite.
These elements collectively contribute to a trading framework that prioritizes trader success and sustainability. Although FTMO is a well-known proprietary trading firm, Funded Elite has a more trader-friendly set of rules. The elastic drawdown limits, better profit splits, and growth-supportive features make Funded Elite a better option for traders who want a more relaxed trading environment.
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