One of the most common challenges that some traders face in the beginning of their trading career is lack of trading capital. Without proper trading capital you don’t start to make enough money if you are using proper risk management. Starting with a small trading capital will require you to be extremely skilled and lucky in order to grow fast. Today I am gonna show you how to get free money in trading that you can use to grow your trading career. Make sure to follow every step outlined in order to get the free money otherwise you won’t!
In this guide, you’ll learn:
- What is prop trading?
- How to get funded to earn more money.
- Steps to get funded.
- Benefits of being funded.
What is Prop trading
Proprietary trading aka prop trading is where a trader is given a firm’s money to trade with then they split the profit with the firm as per their agreement. A long time ago this was only available to wall street traders but with the growth of technology it’s now available to anyone who trades financial instruments.
How to get Funded to earn more money
There are many prop trading funds but my recommended one is FTMO. I prefer FTMO as it has a lot of benefits that are suited to the trader. You are funded with either 10000$, 20000$, $50000, $100000 or $200000 accounts depending on your choice. I will go to the benefits soon but first let’s start on the steps to get funded.
Steps to get funded
- In order to get funded you need to follow 2 easy steps:
- Register the FTMO.
- Get Evaluated.
- Registering for FTMO.
-Go to the FTMO Website by clicking HERE. Enter the details required which are your legal names, Email, Phone number and your country.
- Get Evaluated.
-Evaluation involves a two stage process.
- Stage one is FTMO Challenge where you are given the trading capital and are required to make 5% of total balance i.e. If you get the 10,000$ you are required to make $500 in 30 days which is very easy to accomplish.
- Stage two is the verification where you pass and get verified and boom! You become a prop trader officially. How cool is that?
-Once you make money with FTMO you are awarded 90% of the money you make and FTMO keeps the 10%. When it comes to deals, I don’t think you can get any better deal that this!
Benefits of Being Funded
-Being funded with FTMO comes with many benefits which include:
- Custom application.
-FTMO has an application that can assist you in journaling your trades and analyzing the markets.
2. Customer support.
-Great customer support that you can get in touch with via email, phone or live chat that supports 15 different languages!
3. Performance coach.
-You get your own personal coach to help you in your trading career
4. Trading academy.
-Beginner traders get instant access to tutorials on the platform and trading basics as well as educational webinars on advanced trading topics and mentoring from top traders and mentors in the industry.
5. Account evaluations.
-You get top notch data on your trading activities in order to help you improve and become a better trader.
6. No recurring fees.
-The good thing with FTMO is that you have no recurrent charges, membership or hidden fees. You just make a one time payment to get access to an account which is refunded once you make your first profit.
7. No limit on trading conditions.
-No matter your trading strategy, you can use it on FTMO as their are no restrictions. You can use EA’s, robots, and even hedge. Your only focus is making the money.
8. Trade any instrument available.
-All trading instruments are available in FTMO; forex, commodities, indices, crypto, stocks and even bonds.
Final Thoughts
FTMO is among the best prop firms around. You can use it to make proper money and grow your trading career.