For Nigerian forex traders aiming to level up without risking their own capital, FTMO offers a proven two-step evaluation that leads to a fully-funded demo account—trade up to $200 K and keep up to 90% of profits.
Entry fees start at just $155, risk rules are clear, and payouts are bi-weekly via bank transfer, Skrill, major cards or PayPal—even crypto.
Table of Contents
- Company Overview
- Funding Program Structure
- FTMO Challenge (Step 1)
- Verification (Step 2)
- FTMO Account & Payouts
- Withdrawal & Deposit Methods
- Pros & Cons
- FAQ
- Who Should Choose FTMO?
- Next Steps
Company Overview
FTMO is a “modern prop trading firm” founded in 2015 to identify and fund trading talent via a risk-controlled evaluation rather than serve as a traditional broker. Over 240 000 FTMO Challenge accounts have been created worldwide—including many Nigerian traders—who prove their skills in a simulated environment and earn real payouts without risking personal capital.
Funding Program Structure
FTMO’s process has three phases:
- FTMO Challenge – meet a 10% profit target under strict loss limits (no time limit).
- Verification – prove consistency with a 5% profit target and same loss rules.
- FTMO Account – trade up to $200 K virtual capital; keep up to 90% of profits.
This two-step evaluation ensures disciplined risk management before you access funded trading.
FTMO Challenge (Step 1)
- Profit Target: +10% of starting balance
- Maximum Loss: 10% overall; Daily Loss Limit: 5%
- Minimum Trading Days: 4 (one trade per day)
- Time Limit: none (focus on consistent growth)
- Fee: starts at $155 for a $50 K challenge (special €89 deal on $10 K challenge)
No profit from this phase is paid out—this stage solely grants access to verification.
Verification (Step 2)
- Profit Target: +5% of starting balance
- Loss Rules: same 10% max & 5% daily limits
- Time Limit: none
- Outcome: pass and sign FTMO Account Agreement to receive a funded demo account.
Verification confirms you can trade consistently under live-like conditions before funding.
FTMO Account & Payouts
- Virtual Capital: up to $200 K demo funds
- Profit Split: 80% initially; increases to 90% when you meet scaling criteria
- Fee Refund: Challenge fee refunded with first payout
- Scaling Plan: grow your account by 25% increments up to $2 M virtual funds
Withdrawal & Deposit Methods
- Payout Cycle: Bi-weekly via international bank transfer, Skrill, Mastercard, Visa, Maestro, Discover, PayPal
- Crypto Payouts: Available on request (USDT, USDC)
- Challenge Purchase: Credit card, bank transfer, Skrill, PayPal (no Naira direct — use USD rails via your bank or e-wallet).
Pros & Cons
| Pros | Cons |
|---|---|
| Proven evaluation builds disciplined risk habits | Fees apply up front; no refunds if you fail the challenge |
| Up to 90% profit share on funded demo accounts | No direct Naira funding—requires USD/crypto conversion |
| No time limits; focus on consistency, not speed | Demo environment only; no real-capital trading (yet) |
| Bi-weekly payouts via multiple global methods | Minimum trading days may slow high-frequency traders |
| Clear, public rules; free coaching & tools during evaluation | Fee refund only after first payout |
FAQ
Q: Can I use EAs or scalping?
A: Yes—as long as you respect stop-loss rules and don’t employ arbitrage/copy-trading.
Q: What if I hit the max loss or daily limit?
A: Your challenge or verification ends; you must repurchase to retry. Daily pause resets next trading day.
Q: How many accounts can I hold?
A: One active Challenge or Verification at a time per account level; multiple account sizes are allowed sequentially.
Who Should Choose FTMO?
- Discipline-focused traders who excel under clear risk rules.
- Part-time traders needing unlimited time to meet targets.
- Nigerian traders with USD access seeking remote funding without local broker risk.
Next Steps
Ready to prove your trading edge and access up to $200 K in virtual capital? Start your FTMO Challenge today:
Data sourced from FTMO.com as of April 2025.