FTUK Review 2024
Website: www.ftuk.com
Min. Deposit: US$ 149
Leverage: 1:100
Trading Platforms: MT4, MT5
Regulation: UK
Headquarters: USA
Founded: 2021
Regulatory Licenses:
- FTUK - registered in USA company number 2783120
Updated on April 8, 2024
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In conducting our comprehensive review of FTUK, we utilized a detailed and systematic approach. This involved a deep dive into the firm’s offerings, comparing them with over 1000 brokers to gauge where FTUK stands in the competitive landscape. We scrutinized every aspect of their service, from fee structures, trading platforms, and account types to customer support, regulatory compliance, and the overall trading environment. Our evaluation also included feedback from existing users to provide a well-rounded analysis.
Launched in February 2021, FTUK represents a significant advancement in the proprietary trading firm sector. This innovative firm offers two primary pathways for traders aiming for success: the Evaluation program and the Instant Funding program. By focusing on providing superior services to profitable traders worldwide, FTUK aims to elevate the proprietary trading industry. Traders joining FTUK can expect a streamlined joining process and the opportunity to trade with the firm’s capital, thereby earning profits. However, it’s crucial for potential traders to assess their trading style, risk management strategies, and how well they align with the firm’s programs, as the proprietary trading arena is highly competitive and requires discipline, strategic insight, and adaptability to market fluctuations.
Pros
Low Fees
Competitive Pricing
Availability of Instant Funding
Attractive Profit Share
Support for MT5 and MT4 with Expert Advisors (EAs)
Refundable Fee under certain conditions
A diverse range of accounts with favorable terms
Cons
Lack of rigorous oversight
Challenges in becoming a funded trader
Limited range of tradable instruments
Mandatory stoploss requirement
Absence of alternative trading platforms
Fee refundable only under the condition that no trades are placed
FTUK has garnered a reputation for legitimacy through a variety of positive critiques and its operational presence within the United States, a nation renowned for its stringent and tightly regulated trading landscape. The commendations often emphasize the company's robust risk management techniques, which are supportive of news trading and holding positions overnight. Clients have also lauded FTUK for delivering superior customer support and for the user-friendly design of its trading dashboard.
Proprietary Trading firms, by their nature, do not fall under the conventional Forex Broker licensing umbrella. As a result, they face lesser regulatory scrutiny and are not subject to oversight by the primary industry regulatory bodies. This scenario translates into a lower tier of operational safety since the firms themselves oversee their activities and allocate the capital for trading ventures. It is, therefore, essential to grasp comprehensively the risks involved.
Is FTUK a Scam?
Our examination into FTUK's authenticity, conducted through its official digital presence, unearthed no signals to suggest that FTUK is a fraudulent operation. Nonetheless, considering the minimal regulatory oversight Proprietary Trading Firms receive from financial watchdogs, pinpointing the firm's status definitively as either fraudulent or legitimate poses a challenge.
As professional counsel, it is advisable to acquire a thorough understanding of Prop Trading, recognize the risks, and opt for a Company that not only has a commendable reputation but has also been in operation for an extensive period, thus indicating stability. Nevertheless, as the financial commitment involves primarily subscription fees rather than substantial investment in trading, potential losses are comparatively lower than those associated with direct trading using personal funds.
This segment of our FTUK critique delves into the structure of the evaluation challenge, detailing the prerequisites for participation. This includes the nature of the assessment requisite for securing a Funded Trading Account, a gateway to becoming a Proprietary Trader, alongside the financial commitments—principally the Registration Fee—required from a participant.
FTUK offers its traders an efficient, single-step evaluation program aimed at simplicity and effectiveness. This program initiates participants with a demo account, transitioning them to live trading upon meeting specific evaluation criteria.
Account Balance and Registration Fee
Embarking on your FTUK Trading journey entails selecting the desired Account Balance level, which influences the challenge conditions and directly affects the registration fee. For a comprehensive comparison of registration fees across various account sizes, please refer to our detailed Registration Fee comparison table below.
The one-step Evaluation Program at FTUK is crafted for traders to exhibit their trading prowess within a simulated setting, offering funding amounts from $14,000 to $90,000. This streamlined process is celebrated for its simplicity, affording traders the freedom to progress at their preferred pace without time constraints.
Traders who excel in this program can swiftly expand their operations and enjoy perks such as low registration fees, the liberty to hold trades overnight and over weekends, and the facility to withdraw profits from level 2 onwards.
FTUK additionally provides an Instant funding option designed for traders eager to skip the evaluation phase and immediately embark on live trading. This alternative grants instant access to funds, enabling traders to start earning from the outset.
Profit Target
FTUK has established a goal of achieving a 10% milestone across all its funding levels. Traders reaching this target are instructed to close all active trades and report their success to FTUK. Attaining the initial milestone results in a 400% increase in the trader's funding amount, with each subsequent milestone doubling the funding amount.
Maximum Loss
FTUK enforces an absolute drawdown limit of 8% for its funded accounts, setting a fixed equity stop-out level for each funding tier. Should the account equity fall below this predetermined threshold, all ongoing trades are terminated, and trading capabilities are suspended. This fixed stop-out value for each funding level means that any profits garnered by the trader augment the loss allowance, offering a buffer and extending the scope for trade management before reaching the drawdown limit.
Minimum Trading Period
There is no longer a stipulation for a minimum number of trading days in their programs, a significant advantage. As soon as a trader accomplishes their milestone target, they qualify for a payout and additional funding responsibilities.
See the detailed table with FTUK Challenge conditions based on Account Size:
Free Trial
FTUK currently does not provide a free trial for their trading programs. This policy necessitates that potential traders interested in exploring FTUK’s funding opportunities proceed through the standard registration and evaluation process, devoid of the opportunity to experiment with the platform and trading conditions at no cost.
Upon successfully passing the evaluation or challenge, traders receive their Funded Account setup, which usually activates within a few business days. It's crucial to recognize that the conditions and balance of the account will reflect the level achieved in the test. If a trader aspires to manage a higher-grade account, they are required to pass a new test for the desired Account Balance they wish to handle.
Profit Split
FTUK grants a profit share of 80% to the trader, placing it among the more generous schemes in the proprietary trading firm sphere. This arrangement means traders retain 80% of the profits they make, with FTUK keeping the remaining 20%. This profit share model is applicable once traders have passed their evaluation phase or when they begin trading with an instant funding account.
Instant Funding
The Instant Funding Program is designed for traders eager to skip the evaluation phase and jump straight into live trading. This option provides immediate funding access following a one-time payment, allowing traders to profit from the first day. Key features of this program include starting with a live account, earning from day one, absence of time restrictions, and swift capital scaling opportunities. Similar to the Evaluation Program, traders can withdraw their profits from level 2 onwards, with the flexibility of holding trades overnight and during weekends.
Our thorough assessment of broker offerings includes account types, trading platforms, instruments, and costs. It's equally important to examine leverage options and trading terms, as limitations on strategies or certain activities could result in account forfeiture. In such scenarios, requalification through testing is mandated. More details are provided below:
Trading Instruments
FTUK offers an extensive selection of trading instruments, accommodating a wide range of trading preferences and strategies. Their variety includes Forex, Commodities, Indices, and Cryptocurrencies, with digital currencies such as Bitcoin and Ethereum. This assortment ensures traders have comprehensive access to various financial markets.
FTUK Commission
According to our extensive research involving over 1000 brokers, FTUK generally provides commission-free trading, implying that traders are not subjected to additional charges for executing trades. Instead, the firm profits through the spread, which is the differential between the buying and selling prices of a financial instrument. This approach enables traders to execute their trades without the burden of commissions diminishing their profits.
Leverage
FTUK presents leverage options tailored to various trading programs and risk appetites. For conservative programs, leverage of up to 1:50 is accessible, whereas more aggressive programs may offer leverage reaching 1:100.
FTUK App Platform
FTUK grants access to premier trading platforms such as MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are celebrated for their intuitive interfaces, advanced charting functionalities, customizable indicators, and the capability for automated trading through Expert Advisors (EAs).
Trading Conditions
Our investigation reveals that the FTUK broker provides two primary account conditions: Swap Accounts, ideal for swing trading, and swap-free accounts, available in all challenges for traders who prefer to evade overnight charges. FTUK permits the execution of various trading strategies, including scalping, day trading, swing trading, hedging, and news trading. Nevertheless, adherence to specific conditions and risk management practices is obligatory to maintain compliance with the firm's guidelines. FTUK proscribes several trading strategies such as Martingale, Tick scalping, Arbitrage trading, Hedge arbitrage trading, and Latency arbitrage trading to uphold market integrity and minimize risks associated with disruptive or exploitative trading behaviors. The firm requires the implementation of stop loss orders, especially in low-risk programs, mandating traders to employ stop loss orders to effectively manage risk and ensure that potential losses remain within predetermined limits.
FTUK Promotions
Our research indicates that the company sporadically offers promotions, including FTUK Coupons for discounts and FTUK Promo Codes. However, these promotions are generally temporary, thus it's advisable to verify their availability upon registration.
Payout
FTUK processes payouts once a trader has progressed to a level 2 funded account or beyond. Traders qualify for a payout after they have traded for a minimum of 10 trading days on their level 2 account, ensuring traders have demonstrated consistent trading proficiency before disbursing their earnings.
Withdrawal Method
For payouts, FTUK utilizes Deel, a platform engineered for managing global payments and contracts. Upon approval of a payout request, the funds are deposited into the trader's Deel account. If Deel is inaccessible in the trader's region, FTUK can arrange direct payments through PayPal or cryptocurrency. From Deel, traders have the option to transfer their earnings via several methods, including bank transfer, Deel Card, Coinbase, PayPal, Payoneer, Revolut, and Wise.
