Comparing FTMO and Fortunes Funding Challenge

Comparing FTMO and Fortunes Funding Challenge

Fortunes Funding offers challenge programs for retail traders who want to prove their trading strategies and earn evaluation firm funding. It’s often compared to the popular FTMO challenge programs.

This guide offers a side-by-side comparison of the FTMO and Fortunes Funding Standard Challenges. Our goal is to help you decide which challenge program is a better match for your trading strategy and style.

FTMO Standard Challenge

The FTMO Standard Challenge is the first step in the firm’s evaluation process. Basically, it gives participants a platform to test out their trading strategies. To succeed, participants must display a consistent ability to earn payouts, manage risk, and limit virtual losses.

In the FTMO Standard Challenge, participants start with an initial virtual balance of $10,000–$200,000. You’ll have a minimum trading period of four days with no maximums. To pass the challenge, you must meet the following basic conditions:

  • Virtual payout target: 10%
  • Daily maximum drawdown: 5%
  • Overall maximum drawdown: 10%

News trading is allowed. Participants can also keep their positions open overnight and during weekends. What’s more, all asset classes supported in your trading platform are permissible. These may include stocks, indices, commodities, Forex, and cryptocurrency.

FTMO challenge for traders
Photographer: Gorodenkoff

FTMO Challenge Pros and Cons

The FTMO Challenge has both positives and negatives. Here’s what participants like about it:

  • FTMO lets traders hold up to $300,000 in a single simulated account, which rewards participants who display a viable and profitable trading strategy.
  • If you lose a challenge without violating any rules, you can qualify for a free second chance the following month.
  • FTMO has a simple, fast invoicing process that allows funded traders to withdraw payout shares quickly.
  • The FTMO platform has detailed, data-rich tracking features that catalog both psychological and statistical information.
  • You can trade on up to three separate platforms (MT4, MT5, and cTrader).

On the downside, participants have cited the following drawbacks:

  • Funded traders can only withdraw payout shares once a month.
  • FTMO keeps 30% of its funded traders’ payout shares and distributes just 70% to its trading partners.
  • There are questions over whether FTMO will survive for the long term.

Fortunes Funding Standard Challenge

Unlike the FTMO Challenge, Fortunes Funding offers both one- and two-phase challenges. These programs give retail index, cryptocurrency, and Forex traders more options as they seek to secure evaluation firm funding.

The basics of the one-phase challenge are:

  • Payout target: 10%
  • Leverage: Up to 30x
  • Daily maximum drawdown: 3%
  • Overall maximum drawdown: 6%

Simulated accounts for the one-phase challenge start at $5,000 in funds and go up to $200,000.

The two-phase challenge is similar but has two parts: challenge and verification. During the challenge phase, you must meet the following targets:

  • Payout target: 9%
  • Daily maximum drawdown: 5%
  • Overall maximum drawdown: 10%

If you pass the challenge phase, you can proceed to the verification phase. To pass it, you must satisfy these terms:

  • Payout target: 4.5%
  • Daily maximum drawdown: 5%
  • Overall maximum drawdown: 10%

Leverage isn’t available during the challenge phase, but participants in the verification phase can use up to 100x. The two-phase challenge also has a wider trading range than the FTMO Challenge. Its minimum starting virtual balance is $5,000, and the maximum is $300,000.

female Forex trader
Photographer: Arsenii Palivoda

Fortunes Funding Challenge Pros and Cons

Here’s what participants like about the Fortunes Funding program:

  • More attainable payout targets make the program inclusive and suitable for newcomers.
  • The two-phase challenge opens paths for traders who use a diverse range of trading styles.
  • Challenge fees are refundable if you pass the program and become a funded trader.
  • Fortunes Funding offers an 80% payout share to its traders. This is a significant upgrade on the FTMO Challenge, which can lead to just a 70% payout split.
  • Traders have unlimited repeat attempt opportunities. There are no minimums or maximums on the number of trading days you have to complete the challenge.

There are also a few cons to consider:

  • For larger initial virtual balances, challenge program costs can be high. They’re only refundable if you pass and become a payout-earning-funded trader.
  • Fortunes Funding maintains relatively low leverage limits on certain financial instruments, which somewhat limits traders’ ability to earn payouts.
  • You must be active for at least 21 days to withdraw payouts from simulated funded accounts.

Get Started With Fortunes Funding

Compared to the FTMO Standard Challenge, the Fortunes Funding program offers more attainable payout targets, more flexible challenge terms, and higher levels of payout-sharing for funded traders.

The Fortunes Funding Challenge also supports a broader diversity of trading styles. In general, it’s a better option for newcomers who want to make their mark.

Visit Fortunes Funding to learn more and sign up for the challenge of your choice.

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