FTUK is a prop firm based in London that provide their traders with up to three accounts with a balance of £2,240,000 and employ Itexsys as their broker.

Pros
  • Allow up to 3 accounts
  • Scaling up to $2,228,000
  • No minimum trading days
  • Instant funding
  • Weekend, overnight, and news trading allowed
Cons
  • New prop firm
  • Low leverage of 10:1 and 30:1
  • May only risk 1.5 percent of each pair on their low-risk programs
  • High 25% profit target
FTUK discount code 5% promo code

FTUK Review

FTUK  also known as Forex Traders UK, is a slightly newer prop firm. They were incorporated less than a year ago. 10 December 2021 to be exact. FTUK allows traders to capitalize on their success and develop faster income while being rewarded through their funding programs. If you are a successful trader, they offer a solution for you.


About FTUK


FTUK is a prop firm based in London, England, and has its office in Kemp House, 160 City Road.  They provide their traders with up to three accounts with a balance of £2,240,000 and employ Itexsys as their broker.


Funding Program Options


FTUK has 2 Funding Programs available. There is the Evaluation Program and the Instant Funding Program. 


Traders in the Evaluation program must demonstrate to FTUK that they can manage big amounts of capital in a single phase. They provide funding amounts similar to their Instant funding program, which range from $14,000 to $90,000. The purpose of their evaluation program is to identify profitable traders. For this account, you start with a demo account. This is different from the Instant Funding Program which starts with a live account.


The FTUK instant funding program is designed for traders who do not want to go through an evaluation process and instead wish to obtain instant funding on a live account. This method is designed for profitable traders who want to quickly increase their trading earnings and begin earning from level 1.

They have a scaling plan where they will increase your account once you hit a 10% profit. The profit split is also the same for Evaluation and Instant Funding. So the higher your level, the higher the profit split. But for the Evaluation account, level 1 is the demo account, so you don’t get a profit split in level 1.


Fees


The trader is only required to pay a one-time signing fee. After signing up, the trader will have full access to the account with no further fees. 


The prices for low-risk instant funding account types start from  £150 for £2,500 funding and go as high as £950 with £17,500 funding. Low-risk account types offer a 50-80% profit split. 

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The prices for aggressive instant funding account types start at £150 for £2,500 funding and go as high as £950 for £17,500 funding and the same 50-80% profit split.

The only difference between the low-risk and aggressive is the profit target and the leverage. Low-risk has 10% profit target and 1:10 leverage and 180 days to reach the profit target. Aggressive has 25% profit target with 1:30 leverage and 90 days to reach the profit target. Below is the pricing for the instant funding program.

For their evaluation pricing, the price is slightly cheaper. But you would need to complete their 2 steps evaluation before getting funded. As you can see below, the only difference is highlighted in red. The low-risk account only has a profit target of 10% compared to the aggressive at 25%. The leverage and the maximum trading time is also different.


Tradable Assets


You can trade forex, metals, indices and commodities.

Forex:
EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD, USD/CHF, AUD/CAD, AUD/CHF, AUD/JPY, AUD/NZD, CAD/CHF, CAD/JPY, CHF/JPY, EUR/AUD, EUR/CAD, EUR/CHF, EUR/GBP, EUR/JPY, EUR/NZD, GBP/AUD, GBP/CAD, GBP/CHF, GBP/JPY, GBP/NZD, NZD/CAD, NZD/CHF, NZD/JPY.

Metals:

XAU/USD, XAG/USD

Indices:

AUS200, E35EUR, 100GBP, F40EUR, D30EUR, JPN225, E50EUR, SP500, NAS100, DJI30

Commodities:

UK/OIL, US/OIL


Restrictions


If you breach the drawdown restriction but want to stay in the program, you can re-join after paying the normal activation fee. Additionally, there is no time limit on trade durations, and traders may hold trades on weekends and overnight.


FTUK does not limit your risk or lot size on situations. You may only risk 1.5 percent of each pair on their low-risk programs, and a stop loss is required. But on their aggressive programs, you can risk any percentage you want and do not need to set a stop loss. However,  you are expected to use consistent risk throughout each trading month. They want their trader to adhere to the following guidelines:


  1. Traders should use consistent risk each day.
  2. Traders should use a consistent trading style throughout their trading month. You may also choose to use multiple styles, but if so, this pattern would also need to be consistent throughout the month.
  3. Traders should not increase their risk drastically at any point.


FTUK allows traders to manage their accounts using any effective trading method, including scalping, day trading, swing trading, and news trading.


They allow any risk management EA. But you can’t use it in martingale, tick scalping, reverse arbitrage trading, and hedging.


Challenge


The evaluation process consists of one phase, which needs a profit target of 10% for low-risk account types and a profit target of 25% for aggressive account types. For low-risk accounts, you may trade with up to 10:1 leverage, while aggressive accounts can trade with up to 30:1 leverage. You have a maximum trading duration of 90 days and cannot exceed a 5% absolute drawdown.


For low-risk accounts ranging from £2,500 to £17,500, you must achieve a 10% profit objective for level one. Further scaling up requires the same 10% profit objectives, and your balance is doubled every time, from £640,000 to £2,240,000, depending on the account size you select. You must also adhere to the 5% maximum loss guideline, which you cannot exceed.


For level one aggressive accounts ranging from £2,500 to £17,500, you must achieve a profit objective of 25%.


You should also keep in mind that you can trade low-risk and aggressive account types with a leverage of 10:1, and the maximum stop loss for each open position is 1.5%. The program’s first level has a maximum completion duration of 90 days. Low-risk account types give a profit share of 50-80%.


In Conclusion


FTUK seems like a good prop firm to join. Information is not that complicated. You are permitted to hold transactions overnight, on weekends, and during high-impact news releases, while EAs are also permitted. There is nothing new offered that other prop firms haven’t offered except for their instant funding profit split that increases according to your trading level. 

Aside from funding traders, they provide traders with one-on-one sessions, trader interviews, and other valuable resources to help them become better traders. Another that is good about them is that you can hold You can contact them if you want to arrange a private session with their support coach. They also provide their traders access to an advanced traders dashboard, which allows them to monitor their trading Metrics and move toward the next financing level.

 

 FTUK Coupon Code

If you are interested in joining FTUK, you can enter our special 5% discount code FT5.

 

 

FTUK Review Details

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FTUK Review
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