Coupon Code Alert: Proptradinonline
Best suited for: This is a great option for UK traders. They offer great prices with a fast-scaling plan. The time limits are also very fair, which would suit traders who don’t like to be rushed.
- Models on offer: 9/10
- Cost: 9/10
- Rule Fairness: 8/10
- Support: 8/10
- Profitability: 9/10
- Scaling System: 9/10
- Overall: 8.3/10
FTUK is an established London based prop firm offering up to £4.4 million of funding to traders. They have an extremely fast scaling system and offer a single-phase evaluation or instant funding accounts. They have regular promotions so there is always a great deal available.
Prop Firm - Pros
- Multiple Currencies – This prop firm offers multiple currencies for your base currency. This is great for traders to be able to trade the currency of their own country.
- Super Fast Scaling – FTUK will double your account size at every 10% profit, this is among the best in the industry.
- UK Based – This prop firm in based in the UK which holds companies to stricter regulations than most other countries.
- Huge Max Funding – FTUK offer up to £4.4 million in funding, reachable in just 8 steps!
- Regular Promotions – It appears that this prop firm has at least one promotion on every month, such as 1 free retake or xx% off.
- Long Time Limits – In the low-risk plan you are given a massive 180 days in which to complete the single-phase challenge. This should be achievable for most traders.
Prop Firm - Cons
- 5% Absolute Drawdown – This drawdown means traders must be extra cautious and implement a solid risk management plan.
- Possible Account Termination If Inconsistent – FTUK has a clause which states if a trader does not demonstrate good risk management, they may be removed from the firm. This shouldn’t affect responsible traders, however.
What Funding Models do FTUK offer?
FTUK offers two types of funding models – Instant funding or Single-phase evaluation. Within both of these they offer low-risk or aggressive, which has different time limits and profit target rules.
The aggressive accounts have a 25% profit target and 90 days to complete the challenge. It allows traders to use up to 100:1 leverage. No stop loss is required with this challenge.
The low-risk accounts have a 10% profit target and 180 days to complete the challenge. It allows traders up to 50:1 leverage. A stop loss must be placed with every trade, with a maximum risk of 1.5%.
The instant funding accounts allow traders to earn from the first phase of the challenge, with profits becoming withdrawable after reaching the initial profit target.
FTUK Rules and Restrictions
FTUK allows all trading styles but puts an emphasis on keeping good risk management. Some of the rules include:
- Holding Trades – Traders are allowed to hold trades overnight and over the weekend.
- Stop Loss – A stop loss is required on all low-risk programs and must be under 1.5% of the total capital on the account. No stop loss is required on the aggressive accounts.
- News Trading – FTUK allow news trading.
- EA’s – Expert advisers are allowed providing they don’t use martingale, hedging or other arbitrage tactics.
- Minimum Trading Days – There are no minimum trading days for this prop firm.
FTUK Profit Sharing and Scaling
FTUK offers a fast and efficient scaling plan in which your capital is doubled at every 10% profit. As you progress through the stages, your share of the profits also increases from 50/50 up to 80/20.
In order to cross from step 7 to step 8 an extra payment is required when signing up for the challenge.
Prices start from £119 for a £10,000 evaluation account. For the £10,000 instant funding account the price is £150.
The prices are in line with other prop firms, especially considering it is a single-phase challenge which more traders should be able to pass. Don’t forget to keep an eye on promotions and discount codes as well.
FTUK also offer a number of addons in order to improve your experience. These include:
- Level 8 funding. This adds another level to scale up to £4.4m. (+10% fee)
- Double max trading days. This doubles the max time limit for the challenge. (+15% fee)
- Joining fee refund. This allows you to claim back the joining fee after reaching the first profit target. (+25% fee)
- Evaluation retake. This provides one free retake if you should fail the challenge. (+50% fee)
In conclusion, this is a great prop firm with huge earning potential for experienced and risk aware traders. It offers some of the highest capital allocation in the industry with fair rules.
I would advise against this firm for newer, less experienced traders or those who perform “gambling” trading as the drawdown and consistency rules will not align with those traders.
Frequently Asked Questions
Does FTUK allow copy trading or EAs?
Yes, FTUK allows EAs as long as they don’t perform in the following ways:
Reverse arbitrage trading
Latency arbitrage trading
Hedge arbitrage trading
Does FTUK offer a demo or practice account?
Demo/practice accounts are available directly from the broker which FTUK chose, Eightcap.
What Broker does FTUK use?
FTUK uses Eightcap as their broker which is a popular choice for prop firms and has a great reputation with regards to liquidity, spreads and upkeep.
What Platform do FTUK offer?
FTUK uses MT4 (Metatrader 4) for all their accounts.
Is FTUK legit?
Yes! This prop firm has an established client base, a UK registered company, company address and a 4.7 star Trustpilot rating. You can be confidant that your investment is safe with this prop firm.
Does FTUK have a promo code or any discounts?
Yes, we have been given the following code for traders to receive 5% off: Proptradingonline
Where is FTUK based?
FTUK is based in London, UK. The registered address is:
Kemp house, 160 City Road,
London, United Kingdom, EC1V 2NX.