Introduction:
As a funded trader, choosing the right trading program is crucial for your success in the financial markets. FTMO has gained popularity with its profit-sharing model and unique challenge-based funding process. However, it’s always beneficial to explore alternatives and evaluate their features to find the best fit for your trading style and goals. In this article, we will compare FTMO with some of the top funded trading programs mentioned in the article “Best FTMO Alternatives Of 2023” by Inwara. Let’s dive in and discover the key differences and advantages offered by these alternatives.
1. The Funded Trader:
The Funded Trader is a viable alternative to FTMO, offering a trading capital of $400,000 with an 80% profit-sharing model. Traders have the flexibility to trade in Forex, Commodities, Indices, and Crypto markets. The program follows a two-phase challenge structure, and upon successful completion, the fees are refunded. The Funded Trader also provides options for Regular and Swing trading variants, accommodating traders’ preferences. With its attractive profit split and multiple asset options, The Funded Trader proves to be a strong alternative to FTMO.
2. My Forex Funds:
My Forex Funds addresses one of the concerns with FTMO by providing instant funding options. Traders can access a $10,000 balance with the Rapid plan or a $2,000 balance with the Accelerated plan. The Evaluation plan offers traders the opportunity to work their way up, starting with $5,000 and keeping 85% of their profits. While My Forex Funds focuses on Forex, Crypto, and Commodities, it does not offer stock trading. Traders can benefit from the platform’s faster scaling options, allowing for substantial increases in trading balance as profit targets are achieved.
3. BluFx:
BluFx primarily caters to Forex traders, offering 19 Forex pairs and gold trading options. While it lacks stock and commodity trading, BluFx stands out with its instant funding feature. The platform allows traders to trade without minimum trading day requirements or withdrawal targets. However, the profit split is capped at 50% to compensate for the higher risk taken by the platform. BluFx offers two package options, Lite and Pro, with varying trading times and additional features. Traders seeking instant funding and a focus on Forex and gold markets may find BluFx as a suitable alternative.
4. City Traders Imperium:
City Traders Imperium provides traders with the advantage of instant trading ability through a £999 fee, offering a $20,000 trading balance. The program offers different plans, including Classic and Standard Evaluation, allowing traders to test their skills with varying capital amounts. City Traders Imperium allows trading in gold, indices, and Forex. Traders can benefit from the platform’s profit split, which can go up to 100% as profit targets are achieved, doubling the trading corpus. Additionally, the platform offers educational resources and reliable customer support.
5. Topstep:
Similar to FTMO, Topstep evaluates traders through a challenge and offers a profit split model. Traders are allowed to keep their first $5,000-$10,000 in profits, and the profit split remains at 80% thereafter. Topstep specializes in futures contracts listed on the Chicago Mercantile Exchange. While it provides opportunities for diversification, it limits traders to specific markets. Traders need to meet daily balance requirements to determine the number of lots they can trade. Topstep’s monthly fees provide traders with ample time to reach profit targets while managing risk effectively.
Conclusion:
While FTMO has established itself as a prominent funded trading program, exploring alternatives can help traders find the program that aligns with their preferences and trading strategies. The Funded Trader, My Forex Funds, BluFx, City Traders Imperium, and Topstep are all strong alternatives with unique features and offerings. Byunderstanding the differences and advantages of these programs, funded traders can make an informed decision and find the best fit to enhance their trading journey.
Comparison Table:
| Trading Program | Trading Capital | Profit Sharing Model | Asset Options | Challenge Structure | Instant Funding |
|---|---|---|---|---|---|
| The Funded Trader | $400,000 | 80% | Forex, Commodities, Indices, Crypto | Two-phase challenge | No |
| My Forex Funds | $2,000 – $10,000 | 85% | Forex, Crypto, Commodities | Varies | Yes |
| BluFx | N/A | Up to 50% | Forex, Gold | N/A | Yes |
| City Traders Imperium | $20,000 | Up to 100% | Gold, Indices, Forex | Varies | No |
| Topstep | N/A | 80% (after keeping first $5,000-$10,000) | Futures contracts | Challenge-based | No |
