FTMO Review 2026: Rules, Fees, Payouts, Pros & Cons

FTMO review 2026: Is FTMO worth considering for traders in Australia? FTMO offers 1-Step and 2-Step Challenges, each with different profit targets, drawdown limits and reward conditions.

In this review, we examine FTMO Australia’s evaluation rules, fees, payout process, trading platforms, advantages and disadvantages. We also explain the key differences between its two Challenges so you can decide which structure better suits your trading approach.

Overall, FTMO may suit disciplined traders who understand risk management and can follow strict trading rules. However, passing an evaluation and receiving rewards are not guaranteed. Therefore, it’s important to understand the rules before paying for a Challenge.

FTMO at a glance

Feature	FTMO Australia
Provider	FTMO
Products reviewed	1-Step Challenge and 2-Step Challenge
Maximum advertised account size	Up to US$200,000 per FTMO Account
2-Step profit targets	10% in the Challenge and 5% in Verification
1-Step profit target	10%
Maximum daily loss	5% for 2-Step; 3% for 1-Step
Maximum loss	10% static for 2-Step; 10% end-of-day trailing for 1-Step
Starting fee	From €89 for 2-Step and €79 for 1-Step
Initial reward split	80% for 2-Step; 90% for 1-Step
Fee refund	Available for 2-Step under the applicable terms; not refundable for 1-Step
Minimum trading days	Four trading days per evaluation phase for 2-Step; no minimum listed for 1-Step
Trading environment	Simulated trading
Official website	FTMO Australia

Prices and rules are subject to change. Check the current comparison table and product terms before purchasing.

What is FTMO?

FTMO is a trading evaluation provider that assesses traders against defined objectives and risk-management rules. Successful candidates may qualify for an FTMO Account after completing the required evaluation.

Eligible traders can receive monetary rewards based on their trading performance, subject to the provider’s terms and conditions. However, an FTMO Account is not the same as a conventional brokerage account funded with real trading capital. Instead, FTMO describes its trading environment as simulated, with rewards governed by its contractual rules.

FTMO Challenge options: 1-Step vs 2-Step

FTMO Australia lists two evaluation options: the 1-Step Challenge and the 2-Step Challenge. Although both assess trading performance, they differ in their evaluation structure, drawdown rules, consistency requirements, reward split and fee-refund policy.

FTMO 2-Step Challenge

The 2-Step Challenge consists of two evaluation phases.

Phase 1: Challenge

Traders must achieve a 10% profit target while respecting the maximum daily loss and maximum loss limits.

Phase 2: Verification

Traders must achieve a 5% profit target while continuing to comply with the applicable risk limits.

The 2-Step structure requires at least four trading days in each evaluation phase. There is no fixed overall time limit, according to FTMO’s published objectives.

After successfully completing the evaluation and meeting the applicable requirements, traders may qualify for an FTMO Account. The initial reward split is 80%, with the possibility of increasing it to 90% through the applicable Scaling Plan.

The evaluation fee is refundable with the first eligible Reward withdrawal, subject to FTMO’s terms.

FTMO 1-Step Challenge

The 1-Step Challenge uses a single evaluation phase with a 10% profit target.

It has a lower maximum daily loss allowance than the 2-Step Challenge and uses a trailing maximum-loss calculation based on end-of-day account balance. This is an important distinction for traders who hold positions through changing market conditions.

FTMO’s comparison table also lists a 50% consistency requirement for the 1-Step product. The applicable rule may depend on when the order was created, so traders should review the current product terms before starting.

The 1-Step product offers a 90% reward split, but its fee is non-refundable.

FTMO trading rules and objectives

Understanding the risk limits is essential before purchasing either Challenge. Reaching a profit target does not compensate for breaching a loss limit.

Trading objective	2-Step Challenge	1-Step Challenge
Profit target	10% in Challenge; 5% in Verification	10%
Maximum daily loss	5%	3%
Maximum loss	10% static	10% trailing, calculated at the end of the day
Minimum trading days	Four days per evaluation phase	No minimum listed
Time limit	Unlimited	Unlimited
Consistency requirement	No consistency rule listed in the comparison table	50% consistency requirement listed
Initial reward split	80%	90%
Evaluation fee refund	Yes, under the applicable terms	No

Always check FTMO’s current comparison table and trading objectives before trading. The precise calculation of each loss limit matters, especially when positions remain open or account equity changes.

Maximum daily loss

The maximum daily loss limits the amount an account can lose within the applicable daily calculation period. It is not simply a limit on closed trades: open-position losses and applicable trading costs can affect equity.

For the 2-Step Challenge, the published maximum daily loss is 5%. For the 1-Step Challenge, it is 3%.

Maximum loss

The 2-Step Challenge uses a 10% static maximum-loss limit. The 1-Step Challenge uses a 10% trailing maximum-loss calculation based on end-of-day balance.

These rules are not interchangeable. Traders should understand how their account’s limit is calculated and what happens when the balance changes before placing trades.

Consistency requirement

FTMO’s comparison table lists a 50% consistency requirement for the 1-Step Challenge. The applicable rule can depend on the date the order was created, including changes to the rules introduced in October 2026.

Check the terms attached to your specific account rather than relying on older articles or assuming the same consistency rule applies to every product.

FTMO fees in 2026

FTMO Australia’s comparison table lists starting fees of €89 for the 2-Step Challenge and €79 for the 1-Step Challenge.

Challenge	Starting fee	Refund policy
2-Step Challenge	From €89	Refundable with the first eligible Reward withdrawal, subject to terms
1-Step Challenge	From €79	Non-refundable

These are starting prices, not universal fees for every account size. The amount payable can vary depending on the selected product and account size. Check the live checkout before purchasing.

FTMO’s fee-refund policy also differs between products. Do not assume that every evaluation fee is refunded after passing.

For the latest pricing and conditions, visit the official FTMO Australia website.

FTMO payouts: how do rewards work?

FTMO’s reward process is subject to its account conditions and withdrawal requirements. Traders should review the official payout policy before assuming when they can withdraw or how quickly a payment will arrive.

According to FTMO’s published reward-withdrawal guidance:

• A reward request can generally be made from the 14th day after the first trading day on the account.
• The account must meet the applicable withdrawal conditions, including requirements relating to open positions and pending orders.
• FTMO says it normally reviews a request within one to two business days.
• After the invoice is approved, the reward is typically processed within another one to two business days.
• Available methods can include bank transfer, supported card-transfer services, Skrill and cryptocurrency, subject to the applicable limits and availability.

Processing estimates are not guarantees. The exact options and requirements may depend on the account and payment method.

Does FTMO guarantee payouts?

No review should describe payouts as guaranteed without carefully explaining the applicable terms. FTMO publishes a reward-withdrawal process, but the existence of that process alone does not prove that every trader will qualify for a reward or that every payment will arrive on a particular date.

Traders should read the account terms, maintain compliance with the rules and keep records of their trading and reward requests.

For the latest details, consult FTMO’s official FAQ.

Trading platforms and markets

FTMO Australia’s website lists MetaTrader 4 (MT4), MetaTrader 5 (MT5) and cTrader among its trading platforms.

Platform availability can vary by product and current offering, so check the relevant account page before purchasing. Do not assume that a platform advertised in another region is available for every Australian account.

Before starting, consider whether the platform supports your preferred workflow, charting tools, order types and trading instruments.

Pros and cons of FTMO

Pros

• Clearly defined objectives: FTMO publishes the profit targets and risk limits for its evaluation products.
• Two evaluation structures: Traders can compare the single-phase 1-Step Challenge with the two-phase 2-Step Challenge.
• Potentially higher reward split: The 1-Step Challenge offers a 90% reward split, while the 2-Step reward split can increase under the applicable Scaling Plan.
• Published withdrawal process: FTMO explains the steps and expected processing times for reward requests.
• Established evaluation framework: Traders can review the provider’s rules and conditions before committing to a fee.

Cons

• Strict loss limits: A trader can fail an evaluation by breaching a risk rule, even after making a profit.
• Different drawdown calculations: The 1-Step trailing maximum-loss rule requires particular attention.
• Evaluation fees: Traders pay a fee to enter a Challenge, and the 1-Step fee is non-refundable.
• Consistency requirements: The 1-Step Challenge has a consistency rule under the applicable terms.
• Simulated trading: An FTMO Account should not be mistaken for a conventional live brokerage account funded with real capital.
• Rules can change: Traders need to check the current terms rather than rely solely on older reviews.

Is FTMO Legit? Our 2026 Review

FTMO publishes its evaluation rules, account conditions, fee information and reward-withdrawal process on its official website. Those resources allow prospective traders to examine the provider’s stated terms before paying for a Challenge.

However, a provider’s published terms do not, by themselves, establish that it is suitable for every trader or prove every claim made in third-party reviews.

Before purchasing, read the official rules, check the refund conditions, understand the loss limits and review independent customer feedback. Pay particular attention to recent reviews that describe specific experiences rather than relying only on aggregate ratings or unverified payout claims.

FTMO vs other prop firms

There is no single best prop firm for every trader. A useful comparison should examine the actual products and rules rather than make broad assumptions about established or newer providers.

When comparing FTMO with another firm, assess:

Comparison point	What to check
Evaluation structure	One phase or multiple phases
Profit targets	Target percentages and any additional conditions
Daily loss	Percentage, calculation method and reset time
Maximum loss	Static, trailing or another calculation
Consistency rules	Whether a rule applies and how it is calculated
Fees	Upfront cost, refund conditions and other charges
Reward split	Initial percentage and eligibility for increases
Payouts	Eligibility, request process, payment methods and restrictions
Platforms	Availability for the exact product and region
Account type	Simulated trading terms and reward conditions

For a direct comparison, see our existing FTMO vs FundingPips review. Make sure both firms’ current terms are checked before drawing conclusions.

Is FTMO suitable for beginners?

FTMO may be worth researching for beginners who want to understand structured trading evaluations, but an evaluation fee does not guarantee that a trader will pass or receive rewards.

Before paying, a beginner should be able to explain the daily loss limit, maximum-loss calculation, profit target and any consistency requirements for the chosen product.

Using a free trial, where available, can help traders familiarise themselves with the environment and rules before committing to a paid Challenge. Traders should avoid spending money they cannot afford to lose.

FTMO Review 2026: Final Verdict

FTMO is worth considering for traders who want a clearly defined evaluation structure and are comfortable working within strict risk-management rules.

The choice between its 1-Step and 2-Step Challenges depends on more than the profit target. The 1-Step Challenge has a 90% reward split but a 3% daily loss limit, a trailing maximum-loss rule and a consistency requirement. The 2-Step Challenge has a 5% daily loss limit, a static 10% maximum loss, two evaluation phases and a refundable fee under the applicable conditions.

Neither product is automatically better for every trader. Review the official rules, compare the fee and risk structure with your trading approach, and confirm the current Australian terms before making a decision.

Bottom line: FTMO may suit disciplined traders who understand its rules, but passing an evaluation and earning rewards are not guaranteed.

Frequently asked questions

How much does FTMO cost in Australia?

FTMO Australia’s comparison table lists starting fees of €79 for the 1-Step Challenge and €89 for the 2-Step Challenge. The actual fee depends on the selected product and account size. Check the live checkout for the price applicable to your selection.

What is the difference between FTMO 1-Step and 2-Step?

The 1-Step Challenge has one evaluation phase, a 10% profit target, a 3% maximum daily loss, a trailing maximum-loss rule and a 90% reward split. The 2-Step Challenge has two phases with 10% and 5% profit targets, a 5% daily loss limit, a static 10% maximum loss and an initial 80% reward split.

Does FTMO refund the Challenge fee?

The 2-Step Challenge fee is refundable with the first eligible Reward withdrawal, subject to the applicable conditions. The 1-Step Challenge fee is non-refundable.

When can I request an FTMO reward?

FTMO’s published guidance generally allows a reward request from the 14th day after the first trading day on the account, subject to the applicable withdrawal requirements. Review the current FAQ for conditions and processing estimates.

Does FTMO use real money or simulated accounts?

FTMO describes its trading environment as simulated. Eligible traders can receive monetary rewards according to the applicable terms, but an FTMO Account should not be described as a conventional live brokerage account funded with real trading capital.

Which platforms does FTMO Australia support?

FTMO Australia lists MT4, MT5 and cTrader. Check the platform options for your selected product before purchasing, as availability can change.

Is FTMO suitable for beginners?

It may suit beginners who understand the rules and have practised their trading approach, but passing is not guaranteed. Consider trying a free trial if available and make sure you understand the loss limits before paying for an evaluation.