From a trading point of view, the year 2021 has pretty high expectations. In this article, we will show you what you should thoroughly watch and be aware of.
It would be a shame to have high hopes for the new trading year ruined by someone with unclear intentions. FTMO is getting more and more popular and we would like to thank YOU, our Traders.
Unfortunately, this also brings some negative aspects to our business. Let’s have a look at the most common trading related scams you might find online.
This service is mostly offered by a private message. You will get approached by someone who claims is an excellent trader, and if you want to complete the entire evaluation process, they will take care of that and also your FTMO Account.
Everything will be done and you won’t even lift a finger, and the only thing that will bother you is counting packs of money. The message will also include many images of huge profits, a countless number of withdrawals, and other things that will support their lies.
This service will cost you hundreds of dollars (depending on the account’s contract size) plus a fee for the FTMO Challenge. This would be the initial investment, and then they would take some share from the profit split for the monthly payout. So, instead of having a profit-split from FTMO with 70%, you would eventually have only 35%.
Everything sounds great. Right?
Unfortunately, based on our profound internal and external research, we’ve never found any service that would be successful. Those services always follow the same scenario, and in just a few days you will see a rule violation message displayed on your account. The provider will stop communicating with you, block you on social networks, and enjoy the earned money you sent for their scam/fake promises. Instead of the promised profits from the FTMO Account, you have just blown away your own 1000 USD, and the scammer just did fake business.
Also bear in mind that the maximum allocation with FTMO is $300,000. This means that any violation of this rule can be easily detected by our trading department.
Investments in FTMO
FTMO does not accept any deposits from clients. Some may have approached you about FTMO opening up a possibility of investing in selected traders. Possible addressing methods are diverse. You can also encounter false FTMO signatures, unauthorized use of our logo, etc.
If we had such an offer for our traders, they would definitely be notified on our website and via all communication methods. If you receive anything from FTMO, it will always be from our official company emails. If there is anything in the email address other than @ftmo.com, @ftmo-trading.com or @support.ftmo.com, be very careful even with opening it.
And for all safety measures. If you are unsure, do not hesitate to contact our FTMO Support Team, which will help verify the possible fraudulent emails.
Fake accounts on the social media network
Some of you may have noticed that there are occasional comments below our posts that contain information about Bitcoin wallet and promise numerous appreciations of the deposit. If you click on the users who posted these comments, you will see a recently created profile that tries to copy the official FTMO profile with great accuracy. Those kinds of profiles only have very few followers compared to the official FTMO channel.
Be careful on all social network channels!
Courses and EAs ready to meet the FTMO Challenge
As the last in this scam alert selection, we will highlight courses and robots specially developed to complete the FTMO Challenge. There are no guarantees or one unique way of trading!
Everyone has their own approach to trading, with mixed feelings about the market, different perceptions of risk, diverse psychological settings, etc. In trading, no shortcut will make you a millionaire in a few days. Many things need to be “sat down” and tried properly.
If someone teaches you their strategy and you find out that the trading system will suit you in all directions, you will still not achieve the same results as your teacher. Your perspective of the situation is a little different, and only because of that, the work (or the result) cannot be the same.
This does not have any negative correlation, you can easily become better than your teacher in the end, but it will cost some time and effort.
Please don’t take it as if all mentors do their job poorly. Certainly not, but if someone tells you that their course is precisely tailored to the FTMO Challenge and after completing it, you will meet the FTMO Challenge 100%, be very careful!
Even worse are automated strategies – Expert Advisors (EAs), which promise you great results. There the possibility of positive influence in your trading is pretty much zero. If we consider the current market conditions, where something often happens that could not be expected, it is almost unreal for someone to program algorithms that won’t make mistakes.
Don’t try to find career shortcuts that don’t exist. In trading, some of the most beautiful things are freedom and responsibility only for oneself. If you go wrong with trading, you know it’s your fault, and you can work on it. Once you eliminate a mistake, hopefully, you won’t make it again for the rest of your life. If you transfer responsibility to someone else, you can’t work with bugs.
We are sorry that some people try damaging the FTMO brand and offer services that often lead to losses of a considerable amount of money. Be careful about what services you use.
If FTMO needs to contact you, it is always from our website’s official communication channels!
Check if the email contains @ftmo.com, @ftmo-trading.com or @support.ftmo.com and check the profiles on social networks if it is the official FTMO page or only bogus imitations.
Not sure if it was an official contact? Do not hesitate to contact our FTMO Support team, which is always at your disposal.