FTMO review

Our verdict

FTMO is the longest-running firm in this list, based in Prague, and now owns the regulated broker OANDA. Its rules are strict but clearly documented, and gold traders can choose between a Standard account (1:50 gold leverage) and a Swing account that allows news and weekend holding.

FTMO has run evaluation programmes since 2015 and is widely treated as the benchmark prop firm. Traders buy a simulated account and must pass either a two-step process (10% then 5% profit targets) or, since early 2026, a single-step challenge with a 10% target. On the two-step model the daily loss limit is 5% and the overall loss limit is a fixed 10% of the starting balance, so it does not move up as the account grows. The one-step model is tighter: a 3% daily limit, a trailing 10% overall limit and a rule that no single day can account for more than half of total profits. For gold traders, the key change in 2026 was an increase in XAUUSD leverage to 1:50 on Standard accounts. The Standard account blocks trades in a two-minute window around major news and requires positions to be closed before the weekend, while the Swing account removes both restrictions in exchange for lower leverage (1:15 on gold). Rewards start at 80% on the two-step (90% on the one-step) and can be withdrawn every 14 days. Pricing is in euros and sits at the higher end of the market. FTMO completed its acquisition of broker OANDA in December 2025, which adds corporate substance but does not change the fact that funded accounts remain simulated.

Key facts