What is an account type, and who is the Swing account type suitable for?
Account type changes the account’s leverage, the rule for holding trades during market close, and the rule for news trading.
Compared to the Standard account type, the FTMO Swing account type have:
- No restrictions on trading during restricted news releases or holding positions past market close for more than 2 hours (e.g., over the weekend or overnight for equities), provided you avoid Forbidden Trading Practices.
- However, the account’s base leverage is reduced from 1:100 to 1:30.
For this reason, it is suitable for swing traders who need to hold positions for longer periods of time and allow trades sufficient time to develop. This account type is typically used by fundamental traders who expect market sentiment to persist for several days or weeks, or by technical traders who analyse higher timeframes.
How can I get the Swing account type?
The FTMO Swing account type is available exclusively within the 2-Step FTMO Challenge product. It is not offered for the 1-Step FTMO Challenge or the FTMO Instant Account. When ordering a 2-Step FTMO Challenge, you can select Swing as your account type during the configuration process.
Please note that if you purchase an FTMO Challenge as a Standard account type, it is not possible to change it to a Swing account type at a later stage.
Can I modify the account type once the order is created?
You can request a change from a Swing account type to a Standard account type. We can process this change only for accounts with no trades. Note that we provide you with a new account once you pass each phase or withdraw a Reward. The new account is considered an account with no trades and is therefore eligible for the modification.
You may not change from the Standard account type to the Swing account type.
