FTMO's $10,000 Phase 1 has a $500 daily loss limit (5%), $1,000 maximum drawdown (static (floor never moves)), and a $1,000 profit target. Minimum 4 trading days. Fee: €155.
Rules by Phase
| phase 1 | phase 2 | funded | |
|---|---|---|---|
| Daily Loss | $500 (5%) | $500 (5%) | $500 (5%) |
| Max Drawdown | $1,000 | $1,000 | $1,000 |
| DD Type | Static | Static | Static |
| Profit Target | $1,000 | $500 | None |
| Min Days | 4 | 4 | None |
| News Trading | allowed | allowed | restricted |
| Overnight | Yes | Yes | Yes |
What This Means In Practice
You can lose max $500 in a single day.
Your account can never drop below $9,000.
If you grow to $20,000, the floor stays at $9,000(static). Your profits don't shrink your safety net.
At 1% risk per trade ($100), you can take 5 losing trades before hitting the daily limit.
Pros
- +Static drawdown — floor never moves up
- +No time limit to pass challenge
- +Allows overnight and weekend holding
- +Most trusted brand in the industry
- +Up to 90% profit split with scaling
Cons
- -News trading restricted on funded accounts (2min before/after)
- -Higher challenge fees than some competitors
- -No futures trading (forex/CFD only)
- -Profit split starts at 80% (competitors offer higher)