FTUK

1. Prop Firm Programs

We have assessed this prop firm and have found that they have two packages. The instant funding package allows the Forex trader to access live capital immediately. Recently, they have also added the evaluation account that includes the rapid scaling process for a smaller joining fee.

What we like about the instant funding packages is that there is no minimum time limit. This means that once the trader has reached level two, they will immediately receive their pay-out and then grow to larger account size. Personally, we believe this gives the trader more incentive to trade than in the minimum time limit model in which the trader may have to wait to receive payment.

2. Managing More Capital

As soon as the trader hits their target, they get paid and manage more capital. Also, we found that after level two, any trader can request a pay-out at any time if the profit exceeds £300. This is an interesting feature and clearly why many Forex traders have chosen to work with this firm already.

The pay-outs mean that the trader is increasingly in control of their earnings and when and how they receive payment. With many Forex traders jumping on board the most well-known prop firms, we think they miss out on features like this which could better suit most traders.

3. Instant Funding Packages

Looking at their website we feel that the instant packages are more beneficial for Forex traders who want to break into the market and make profits quickly. With the low-risk package only requiring a target of 10%, this target seems reasonable for a trader who is profitable.

In only a few levels the Forex trader can be managing well into six figures if they are able to reach those reasonable targets. As you increase your funding through the levels, the profit split also becomes more beneficial for the trader; by the final level, traders earn 80% of their share.

FTUK also offers an aggressive account on the instant funding model which allows the trader to manage an account with 1:30 leverage instead of the low-risk 1:10. The aggressive account also gives Forex traders the option of stop loss use with a bigger target goal. The scaling process is the same between low risk and aggressive accounts in terms of capital increments. The difference is in the milestone profit target amount.

4. Evaluation Program

The evaluation looks to be a two-step phase in which you get refunded after you pass phase two. This is a common practice of funding in this industry; we have seen the likes of FTMO doing the same but for a slightly larger joining fee.

The difference with FTUK’s evaluation program is that the Forex trader will choose how they want to progress once both evaluation accounts have been passed and verified. The Forex trader can then move onto an instantly funded package and build their live capital and double the funding amount every time a target has been hit.

5. Trading rules and environment

We have found FTUK to be very fair when it comes to flexibility for a Forex trader. After testing the trading environment, they offer a raw trading experience on a real trading account.

The account has better qualities than a standard broker account. For example, they charge no swaps or commissions, and the spreads were less than one pip on EUR/USD. The Meta Trader platform does have many currency pairs, so be sure to only trade the pairs permitted.

6. Trading objectives

After getting in contact with FTUK about trading objectives, we learned that their best interests are the Forex trader. In our FTUK review, we wanted to determine whether a Forex trader would have their account terminated if they didn’t meet the profit target within the maximum time allocated.

FTUK stated that they do provide time extensions for Forex traders who have not met their profit target but have not violated any of the other rules. This is reassuring to know as it allows the Forex trader to relax and comfortably trade within their own limits.

FTUK have made it clear that they accept all trading styles and allow the use of trade copiers and EA’s. We believe the instant funding packages are more suited for swing traders to grow capital and scale their account with this prop firm. Combined with the ability to hold trades overnight, over the weekend, and during news events, Forex traders can hold trades for essentially as long as they want.

7. Trading instruments

As of right now, they only really have a small number of instruments available for trading major, minor pairs and gold. They have let us know that they will be adding more instruments in the near future such as indices and crypto.

These additions would be beneficial to more traders in other financial markets. But as it stands for Forex traders, the list of tradable assets is reasonable with the lowest spreads we’ve seen in this industry.

8. Pay-out time

During our time researching for the FTUK review, we have come across many Forex traders receiving their pay-outs with this prop firm. In the FAQ they mention that the Forex trader will get paid within seven days after the invoice has been approved. From our assessment, Forex traders are paid out within two days on average.

From the pay-out methods and claims, they appear to be the most flexible prop firm when it comes to paying traders. They state that they have recently introduced crypto payments, but mainly pay their traders via bank transfer or PayPal.

9. Unique features

FTUK is different from most prop firms as they offer the highest amount of scaling we’ve seen in the industry. The milestone growth is similar to The 5%ers style, but with the advantage of the verification account. This competes in many ways with FTMO and other challenge-based prop trading firms. They do so by charging a smaller joining fee which is also refundable.

10. Drawdown approach

Another big advantage associated with this prop firm is their use of an absolute drawdown approach. So, as you trade the account and make a profit, your drawdown increases. Comparing the prop firms in this industry, most will use a daily drawdown, but in this case, the Forex trader only has to concern themselves with the stop-out bar limit. We believe that this is a good approach and is very transparent for the Forex trader who can now concentrate on trading rather than on short term trades.

FTUK offers scaling plans which consist of X4 capital to level two, and X2 capital every time you reach your milestone. You can also hold up to three accounts simultaneously, which means you can manage a total of £3,000,000 if you are able to successfully go through the levels.

11. Customer Care

We have tested out all areas of their customer care and trader support in our FTUK review. They have been faultless, retaining the ability to contact them on live chat almost any time of the day. This is beneficial for Forex traders in this industry as the Forex market is open 24/5.

The Forex traders behind this firm also seemed to know a great deal about the training industry itself. They have communicated flawlessly and increased our knowledge of the industry.

We found it very comforting knowing they are immersed in the prop firm industry and its future directions. They have proven to us, through our FTUK review, that they are willing to grow and strive to offer the best trading experience for any Forex trader anywhere in the world.