FTUK is a well-known prop trading firm from the United States.
But is FTUK a scam?
No, it isn’t!
Our review and experience show that FTUK is a safe proprietary trading firm.
You can share your experiences with FTUK within our comment section.
Table of Contents
Key Takeaways
- FTUK has a great track record of timely payments to prop traders and has received multiple awards from reputable organizations
- They offer a generous 80% profit to traders, flexible trading rules, a wide range of instruments, and a good scaling plan for skilled traders
- The review of FTUK covers the prop firm’s background, account options, rules, costs, and pros and cons
About FTUK
Founded in early 2021 by Haseem Gafer, it has become one of the top choices for both new and professional traders. FTUK is founded with a mission to revolutionize proprietary trading for forex traders globally.
| Name | FTUK |
|---|---|
| Website | ftuk.com |
| Company | FTUK Inc. |
| Address | 3017 Bolling Way NE, Atlanta, GA 30305, United States |
| CEO | Haseem Gafer |
| Founder | Haseem Gafer |
| Founded | 2021 |
| Contact | Live Chat, Mail |
| [email protected] | |
| Phone Number | not available |
| Starting Capital | $14,000 to $90,000 |
| Profit Share | 80% |
| Evaluation | 0 days |
| Fee | $149 to $1,200 |
| Payment Methods | Credit Card, Crypto |
| Instruments | CFDs |
| Platform | cTrader, DXtrade, Match-Trader |
| Withdrawals | within 2 business days (on request) |
| Languages | English |
Their most successful program is the instant funding as it offers professional traders instant capital to trade and grow fast. They also provide evaluation accounts at a reasonable entry fee for novice traders. FTUK offers USD, EUR, GBP funded accounts to provide traders with more flexibility.
Though the prop firm initially started in Dubai, it has moved its headquarters to Atlanta, USA. FTUK allows traders to scale up their accounts up to $5.76 million. The figure is proof that there are financially strong investors behind the prop firm.
Safety and Regulation
As they don’t accept money from third parties to manage, the strict regulations that traditional brokers have to go through don’t apply to them. So, they’re not regulated by the US government.
From our experience, we’ve seen no security flaws. We also conducted several tests and found that they have good security measures in place to protect user data. All their data is encrypted and secure from data breaches.
They also scramble sensitive data like card numbers and personal information during transmission to make it unreadable to unauthorized parties. They use fraud detection systems to detect suspicious activity and prevent fraudulent transactions.
Accepted Countries
FTUK is a global prop firm that offers its services to more than 100 countries across the globe, including most of Europe, the USA, and Canada. However, countries that are connected to terrorism are excluded, such as North Korea, Sudan, Iran, Yemen, Libya, Somalia, and DR Congo. Here’s the list of the most important countries available:
- Australia: Yes, registration is possible
- Canada: Yes, registration is possible
- Ghana: Yes, registration is possible
- Hong Kong: Yes, registration is possible
- India: No, registration isn’t possible
- Ireland: Yes, registration is possible
- Kenya: No, registration isn’t possible
- New Zealand: Yes, registration is possible
- Nigeria: Yes, registration is possible
- Pakistan: Yes, registration is possible
- Philippines: Yes, registration is possible
- Singapore: Yes, registration is possible
- South Africa: Yes, registration is possible
- United Kingdom: Yes, registration is possible
- United States: Yes, registration is possible
Evaluation Process
There are two ways you can start trading on a live account. Either you can pass the single-phase evaluation test and become eligible for funded trading capital, or if you already have the trading skills, FTUK allows you to get an instant funding account for a one-time fee.
Evaluation
You can start the single-phase evaluation test with funds between $14,000 and $90,000 to prove your trading skills by earning consistent profits. It has a low signup cost compared to the instant funding deal.
To pass the evaluation test and become a funded trader, you have to reach a 10% profit target. There’s no time limit to complete the test and no restrictions on holding overnight/weekend positions. After you’ve completed the challenge, you can start withdrawing your profit from level 2.
You can choose between the following accounts:
U.S. dollar
| Starting Capital | $14,000 | $40,000 | $60,000 | $90,000 |
|---|---|---|---|---|
| Profit Target | $1,400 | $4,000 | $6,000 | $9,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | $1,120 | $3,200 | $4,800 | $7,200 |
| Minimum Trading Days | – | – | – | – |
| Fee | $149 | $349 | $449 | $599 |
| Discount | Check now | Check now | Check now | Check now |
Euro
| Starting Capital | €12,000 | €36,000 | €50,000 | €80,000 |
|---|---|---|---|---|
| Profit Target | €1,200 | €3,600 | €5,000 | €8,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | €960 | €2,880 | €4,000 | €6,400 |
| Minimum Trading Days | – | – | – | – |
| Fee | $149 | $349 | $449 | $599 |
| Discount | Check now | Check now | Check now | Check now |
GBP
| Starting Capital | £10,000 | £30,000 | £40,000 | £70,000 |
|---|---|---|---|---|
| Profit Target | £1,000 | £3,000 | £4,000 | £7,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | £800 | £2,400 | £3,200 | £5,600 |
| Minimum Trading Days | – | – | – | – |
| Fee | $149 | $349 | $449 | $599 |
| Discount | Check now | Check now | Check now | Check now |
Instant Funding
With the instant funding account, you can start trading with virtual money immediately. So, you can keep any profits you make, even from your first trade.
Like the Evaluation Program, you can hold trades whenever you want, with no time restrictions. Also, FTUK offers a good scaling plan to increase your capital and, by extension, your profit.
You can choose between:
U.S. dollar
| Starting Capital | $14,000 | $40,000 | $60,000 | $90,000 |
|---|---|---|---|---|
| Profit Target | $1,400 | $4,000 | $6,000 | $9,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | $1,120 | $3,200 | $4,800 | $7,200 |
| Minimum Trading Days | – | – | – | – |
| Fee | $200 | $550 | $750 | $1,200 |
| Discount | Check now | Check now | Check now | Check now |
Euro
| Starting Capital | €12,000 | €36,000 | €50,000 | €80,000 |
|---|---|---|---|---|
| Profit Target | €1,200 | €3,600 | €5,000 | €8,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | €960 | €2,880 | €4,000 | €6,400 |
| Minimum Trading Days | – | – | – | – |
| Fee | $200 | $550 | $750 | $1,200 |
| Discount | Check now | Check now | Check now | Check now |
GBP
| Starting Capital | £10,000 | £30,000 | £40,000 | £70,000 |
|---|---|---|---|---|
| Profit Target | £1,000 | £3,000 | £4,000 | £7,000 |
| Maximum Daily Loss | – | – | – | – |
| Maximum Loss | £800 | £2,400 | £3,200 | £5,600 |
| Minimum Trading Days | – | – | – | – |
| Fee | $200 | $550 | $750 | $1,200 |
| Discount | Check now | Check now | Check now | Check now |
Challenge Trading Rules
Here are the trading rules you must follow during both the evaluation program and the instant funding program:
- Profit Target
- Profit Split
- Trading Period
- Minimum Trading Days
- Maximum Daily Loss
- Maximum Loss
- Maximum Position Size
- Maximum Capital Allocation and Multiple Accounts
- Trading Types
- Leverage
- Trading Style
- Trading Hours
- News Trading
- Weekend and Overnight Trading
- Expert Advisor
- Copy Trading
Profit Target
The main goal is to achieve 10% profit consistently. That applies to the evaluation program to pass the test and also to the instant funding accounts to scale up. That way, you’ll have a bigger amount to trade with and enjoy the opportunity to earn more.
Profit Split
The profit split is the same for all types of FTUK accounts. You take 80% of the profit home, while the FTUK prop firm keeps the rest of the 20%. The profit split is quite generous and allows you to earn substantial income.
Trading Period
The proprietary firm has no restrictions on the trading period for the evaluation program or the instant funding account. You can take it as long as you must pass the test or scale up the account.
Minimum Trading Days
FTUK is a prop firm that doesn’t believe in wasting time. There are no minimum trading days, and you can move on to the next level as soon as you have achieved your profit target.
Maximum Daily Loss
FTUK differs from other prop firms because they have no maximum daily loss. Some trading styles can have inherently larger daily swings, and this rule allows for more flexibility with these strategies.
Maximum Loss
All funded accounts start with a 6% maximum loss limit (right now, the drawdown limit is 8% for special offers). That means your account balance cannot exceed 94% (or 92%) of your starting capital.
For example, if your account starts with £10,000, the drawdown is set at 6% below your starting capital (£9,400). If your account gets below, the account will be terminated. However, making profits will increase the amount you can lose before hitting the stop-out.
For example, if you make £800 in profit, your stop-out level effectively moves to £9,400 + £800 profit = £10,200. That gives you more wriggle room as your account grows. If your account value goes below the stop-out level, they can terminate it unless you rejoin by paying a fee.
Maximum Position Size
FTUK allows you to risk a maximum of 2% of your account balance per trade. That means if you have a $100,000 account, you can risk only $2,000 per trade.
Also, you must place a stop-loss order when trading unless you have bought the add-on to remove the stop-loss order. Then, you can risk any percentage you want.
Maximum Capital Allocation and Multiple Accounts
FTUK allows you to keep three separate accounts but can’t merge them. Its scaling plan has eight stages. Reaching each one increases your maximum account size. The maximum you can scale a single account to is $5,760,000.
FTUK account in Dollars:
- Starting capital $14,000 = max. capital $896,000
- Starting capital $40,000 = max. capital $2,560,000
- Starting capital $60,000 = max. capital $3,840,000
- Starting capital $90,000 = max. capital $5,760,000
FTUK account in Euros:
- Starting capital €12,000 = max. capital €768,000
- Starting capital €36,000 = max. capital €2,304,000
- Starting capital €50,000 = max. capital €3,200,000
- Starting capital €80,000 = max. capital €5,120,000
FTUK account in GBP:
- Starting capital £12,000 = max capital £640,000
- Starting capital £30,000 = max capital £1,920,000
- Starting capital £40,000 = max capital £2,580,000
- Starting capital £70,000 = max capital £4,480,000
Trading Types
Initially, FTUK only offered Forex, and gradually, it became one of the largest Forex firms out there. Now, the FTUK trading firm also offers commodities, Indices, and cryptocurrencies.
Leverage
FTUK offers leverage up to 1:100. You start at 1:10, and as you scale up the account, your leverage also increases.
- Level 1 – 1:10
- Level 2 – 1:10
- Level 3 – 1:20
- Level 4 – 1:20
- Level 5 – 1:30
- Level 6 – 1:30
- Level 7 – 1:50
- Level 8 – 1:100
However, leverage on indices is fixed at a lower 1:5 on all account levels. Also, leverage for cryptocurrencies is fixed at 1:2 on all accounts.
Trading Style
FTUK doesn’t force you to trade using only certain trading strategies. They allow all kinds of trading styles, including quick scalps, intraday trades, and multi-day swing positions.
Trading Hours
To trade certain instruments depends on when the stock exchange is open. For other assets, the trading hours depend on the particular trading instrument.
News Trading
FTUK allows news trading, and you can place trades during major news events without restrictions. So, you can take advantage of the market movements caused by important news releases to make quick profits. However, it’s important that you have a good strategy and a risk management plan to avoid significant losses.
Weekend and Overnight Trading
Unlike many prop firms, Weekend and overnight trading are allowed in FTUK. So, you don’t have to close your trades at the end of the day or weekend, and you can implement your strategy without any hindrance.
Expert Advisor
You can use EAs, but there are some restrictions. They can’t do the following things:
- Martingale
- Tick scalping
- Reverse arbitrage trading
- Latency arbitrage trading
- Hedge arbitrage trading
- HFT, Grid Trading
Copy Trading
Copy trading is allowed, and you can copy the strategies of other successful traders on the platform.
However, you can’t copy trades between your accounts. That would be considered a violation of trading rules, and your account can be terminated.
Trading Platforms
FTUK partners with a regulated broker that allows you to choose your preferred platform after signing up. FTUK offers different portals depending on the type of trading account you choose. We used Match-Trader for prop trading and had no issues with the platform.
You can choose between:
- cTrader
- DXtrade
- Match-Trader
Trading Instruments
FTUK allows forex trading, as you can trade major, minor, and exotic currency pairs. In addition, you can trade commodities, indices, and several cryptocurrencies. The complete list will be available on your watchlist once you sign up for the program.
We listed FTUK in the Top 3 Swing Trading Prop Firms, in the Top 3 Crypto Prop Trading Firms and in the Top 3 Stocks Prop Trading Firms.
Brokers
FTUK definitely uses a broker. However, they have not disclosed the name of the broker they use. That’s to prevent the competitors from learning about the strategies of the FTUK and stop them from cutting a deal with their broker. The behind-the-scenes partnerships don’t matter much to the traders as they are focused on making a profit.
Other Products
FTUK’s main strength and focus is prop trading. That’s why they haven’t given much efforts to develop other products. Currently, you can call support and ask for help from the expert traders for advice. You’ll also find essential information in the blog section.
Prices and Challenge Fees
You can use multiple currencies to sign up for the program. The cost for signing up is listed below in USD, Euro, and GBP:
Evaluation accounts:
U.S. dollar
- Starting capital = $14,000 for $149
- Starting capital = $40,000 for $349
- Starting capital = $60,000 for $449
- Starting capital = $90,000 for $599
Euro
- Starting capital = €12,000 for $149
- Starting capital = €36,000 for $349
- Starting capital = €50,000 for $449
- Starting capital = €80,000 for $599
GBP
- Starting capital = £10,000 for $149
- Starting capital = £30,000 for $349
- Starting capital = £40,000 for $449
- Starting capital = £70,000 for $599
Instant Funding Accounts:
U.S. dollar
- Starting capital = $14,000 for $200
- Starting capital = $40,000 for $550
- Starting capital = $60,000 for $750
- Starting capital = $90,000 for $1,200
Euro
- Starting capital = €12,000 for $200
- Starting capital = €36,000 for $550
- Starting capital = €50,000 for $750
- Starting capital = €80,000 for $1,200
GBP
- Starting capital = £10,000 for $200
- Starting capital = £30,000 for $550
- Starting capital = £40,000 for $750
- Starting capital = £70,000 for $1,200
If you fail the evaluation test, you can restart it again by paying the standard fee.
Payment Methods and Payout System
From our own experience, FTUK accepts all major credit cards, PayPal, and cryptocurrencies. We’ve found that when deposits are paid in crypto, they give you a 5% discount.
FTUK allows payout requests once you have reached level 2. Then, you can request a payout anytime and as many times as you need. It takes two days to process the payment. You can receive the payout through crypto or PayPal.
Registration and KYC
Here’s the registration process for you:
- Visit the FTUK website and scroll down to the middle of the homepage.
- Find the list of entry options and choose the one that suits you.
- Click the “Start Trading” button under your chosen option.
- Select “Match Trader” from the drop-up menu on the right (if desired), along with any additional features you want.
- Click “Proceed to Checkout”.
- Enter your email, billing address, and phone number.
- Select your preferred payment method and complete the payment.
- You’ll receive immediate access to the trading platform.
No KYC is required when you sign up for the evaluation. However, if you get funded, you’ll need to go through KYC verification before that can be done. KYC is required during signup if you choose instant funding. You’ll need photo identification (e.g., passport, driver’s license) and proof of address (e.g., utility bill, bank statement) for KYC verification.
Discount and Promo Code
FTUK often offers special offers for new traders. Sometimes, they offer discounts on certain trading accounts. However, they also offer better trading conditions. For example, at this time, they have increased the maximum loss limit for new traders from 6% to 8%.
Free Trial And Demo Account
From our experience, FTUK does not provide a free or trial account with which to trade. You have to pay a minimum fee to get into the program.
Mobile App
The prop trading firm hasn’t launched a dedicated mobile app for its users yet. However, their official website is mobile-friendly and can be used through any mobile browser. We have used the platform through mobile browsers and found it easy.
Customer Service and Support
You can reach customer support through direct mail, 24/7 live chat, or the website contact form.
Live chat connects you to an agent within a minute, while contact forms and email responses take a bit of time and are limited to office hours. The communication language is mostly English.
Taxes
The official website of the FTUK makes it clear that all the traders are responsible for paying their taxes on the profit. So, as a resident of the U.S., it’s your duty to pay taxes properly. You can consult with a tax expert if you need help or learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives to FTUK
Here are the alternatives available:
Topstep
Since its founding in 2012, Topstep has seen rapid growth in revenue and user base. It’s one of the best prop firms out there and pays millions in trader profits each year. They also offer a free course and other tools to help you succeed as a prop trader.
OneUp Trader
OneUp Trader was established in 2017 and offers accounts with capital from 25 to 250k USD. You can keep 100% for the first 10k USD profit and then keep 90% of the profit. They also support a wide range of trading platform and trading instruments.
SurgeTrader
SurgeTrader is run by CEO Jana Seaman, who has helped the company achieve a reputable position in the prop trading industry. They have their own trading platform and are the recipient of the “Best Prop Trading Firm 2022” (Trading Union) and the “Best Overall Prop Trading Firm 2023” (Benzinga Award).
Conclusion
FTUK offers a safe and reliable opportunity for traders to make constant profits. They have easy trading rules (no minimum or maximum trading period, overnight, weekend trading) and a great system to make trading easy for the traders.
The 80/20 profit split is great as well. In addition, the profit target of 10% is quite reasonable too. Plus, they have excellent customer reviews on Trustpilot, and other social media platforms. Considering everything, it’s one of the best forex prop trading firms out there.
So, ready to level up your trading? FTUK can be the perfect platform for you. Explore their programs and see if they align with your goals!
Frequently Asked Questions
Here, I’ve put together the most commonly asked questions about the FTUK prop firm.
Is FTUK legit or a scam?
FTUK is a proprietary trading firm with an excellent reputation and is completely legit. Read more about the prop trading company under “About FTUK”.
Is FTUK regulated?
No, FTUK isn’t regulated as it doesn’t offer any brokerage service and doesn’t handle client money directly. All information can be found in the “Security and Regulation” section.
What is FTUK?
FTUK is a proprietary trading firm that allows users to trade with a company’s assets and earn profit for both themselves and the company. The profits are shared in an 80/20 ratio. Learn more about this under “Profit Split”.
Which broker does FTUK work with?
FTUK works with an American broker, but we don’t know the name of that company. You can find further information in the “Brokers” section.
How many FTUK accounts can I have?
FTUK allows you to open three separate trading accounts at once. See the “Maximum Capital Allocation and Multiple Accounts” section for more details on accounts and scaling.
Where is FTUK based?
The proprietary trading firm is based in Atlanta, USA. However, it was founded in UAE and later moved to the USA. I have detailed the prop firm’s development path under “About FTUK”.
Does FTUK allow the use of an Expert Advisor or Copy Trading?
FTUK allows traders to use expert advisors and copy trading but with certain conditions. You can learn about them in the “Expert Advisor” and “Copy Trading” sections.
Is FTUK legal in the US?
FTUK operates legally in the US. There’s no legal restriction to trading with the FTUK in any of the countries where the prop firm services are available. The FTUK only excluded a few countries due to the sanctions. Read more under “Accepted Countries”.
How long has FTUK been around?
FTUK has been around since 2021. However, they’ve gained a reputation as a good and reliable prop firm and have helped many to become successful traders. Learn more under “About FTUK”.
How much does FTUK cost?
The cheapest option to enter the program is $149. The highest-priced program is available for $1,200. You can read all prices in the “Prices and Challenge Fees” section.
How often does FTUK pay out?
You can request payouts anytime you want after you reach level 2. They take 48 hours to process the payment. More info can be found in our “Payment Methods and Payout System” section.
Having more than eight years of trading experience, I know how hard it is to find a good and reliable Prop Trading Firm and not to choose the wrong one. With PropTradingScam.com I want to help you to pick the right one, stay safe, and share your experience.
