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Forex Funding: From Evaluation Fee to Reward
Forex funding, followed here through one documented FTMO evaluation, means paying a real fee of €89 for a $10,000 simulated account, trading through the Challenge and Verification stages, and possibly earning up to 90% of simulated profits as a conditional reward, every figure documented on one FTMO Challenge page (FTMO (promo), retrieved 2026-09-28).
Ordane accounts operate on simulated capital. No live funds are traded and no deposits are accepted. Payouts depend on simulated performance under Rulebook v1.5; no level of performance is typical or assured.
Ordane sells one product, the Ordane Instant Account: direct access, no evaluation phase and no challenge, on simulated capital.
What does forex funding mean here?
Forex funding, in this article, means a paid evaluation at FTMO that runs on simulated capital and pays a conditional reward if the firm's documented conditions are met.
For current costs and full conditions, readers should also check the firm's dedicated pages: the official pricing overview at FTMO.com and the trading objectives/rules page at FTMO.com/terms-conditions, since the promotional figures cited here describe one product at one retrieval date. Two independent sources frame the numbers in this piece: the firm's own promotional page documents the €89 fee and the 5% daily loss limit (FTMO (promo), retrieved 2026-09-28), while trade-press analysis by Finance Magnates Intelligence separately estimates that between 80 and 100 proprietary trading firms disappeared from the market in 2024 (Finance Magnates, retrieved 2026-09-28). The term is used loosely across the industry. In the arrangement examined here, a firm sells an evaluation, the trader trades on a simulated account, and the firm pays a reward if conditions are met; nothing in this article describes the whole market. FTMO illustrates one documented route (How it works | FTMO.com, accessed September 2026).
Account size, fee and reward are different things
The most useful distinction is between three separate quantities that are easy to conflate:
- The fee: real money you pay, in euros in the documented example.
- The account size: a simulated balance, not money transferred to you.
- The reward: a conditional payment from simulated profits, not automatic income.
FTMO discloses that the accounts it provides are demo accounts with fictitious funds, and that trading happens in a simulated environment only. In the documented range, simulated account sizes run from $10,000 to $200,000: figures that describe evaluation size, not cash handed to the trader (How it works | FTMO.com, retrieved 2026-09-26). The general question of how simulated accounts relate to real money is examined in is a prop firm account a demo account.
Follow the fee, account and reward through each stage
The journey moves through four stages: purchase, Challenge, Verification, and the first reward, with real money appearing only at purchase and at the reward event. In the documented FTMO example, the $10,000 account carries a fee of €89, and the $50,000 account a fee of €345 (FTMO (promo), accessed September 2026). These are real payments, quoted in euros, while the account size is denominated in dollars: the currencies and meanings are distinct. Every figure in this example comes from the firm's single promotional page for the FTMO Challenge: one product, one retrieval.
| Stage | Real money | Simulated figures | Documented condition |
|---|---|---|---|
| Purchase | Fee of €89 ($10k account) or €345 ($50k account) | None | One-time fee paid upfront |
| Challenge | None | 10% target; 10% Maximum Loss | Trading in simulated environment |
| Verification | None | 5% target | Follows a passed Challenge |
| First reward | Fee reimbursement; reward of up to 90% of simulated profits | None | Requires becoming an FTMO Verified Prop Trader |
After Verification, the trader who becomes an FTMO Verified Prop Trader can earn up to 90% of simulated profits as a reward; "up to" matters, because the firm sets the qualifying conditions for that maximum. The Challenge fee is reimbursed only with that first reward: a conditional event, not an automatic refund. Reward percentages are examined in prop firm profit split explained.
Verification
The second stage, Verification, uses a lower documented target of 5% of the applicable initial balance. The fee is not reimbursed at this point, and no separate payment at Verification is documented: the reimbursement condition in the table belongs to the reward event, not this stage.
The 10% Maximum Loss is tied to the Challenge stage (FTMO (promo), retrieved 2026-09-28). A Max Daily Loss of 5% from the initial account balance is also documented (FTMO (promo), retrieved 2026-09-28); FTMO's How it works page applies the same risk limits to the Challenge and to Verification (How it works | FTMO.com, accessed September 2026).
A worked example without mixing cash and simulation
The worked example below converts the documented percentages into dollar thresholds, keeping cash and simulation strictly separate. It is editorial calculation derived from the cited claims, not a new empirical finding. Take the documented $10,000 simulated account:
- Challenge target: $10,000 × 10% = $1,000 of simulated profit (FTMO (promo), retrieved 2026-09-28).
- Verification target: $10,000 × 5% = $500 of simulated profit.
- Challenge Maximum Loss: $10,000 × 10% = $1,000, a threshold that ends the Challenge if breached: not a position-sizing recommendation.
The two targets are separate stage requirements; they are not compounded into a single 15% figure. For the $50,000 account the same percentages give $5,000 and $2,500 (FTMO (promo), retrieved 2026-09-28).
Keep fee reimbursement separate
The €89 fee is paid before anything else happens: real money at purchase, returned only with the first reward after becoming an FTMO Verified Prop Trader. Three errors to avoid in this arithmetic:
- Counting evaluation gains as withdrawable rewards: evaluation gains stay simulated; any reward is a separate, conditional payment from later results on the FTMO Account.
- Converting €89 into dollars without an exchange-rate source: no conversion is documented here.
- Assuming the maximum 90% split: the qualifying conditions for that figure are not established.
What does the example not promise?
The example promises neither cash, guaranteed reimbursement, nor payout eligibility: it only documents conditional structure. FTMO states that all trading takes place in a simulated environment using simulated capital, so you never risk your own money, and that the only initial cost is the Challenge price. Read narrowly, this covers simulated trading only. The paid fee is a real, upfront financial exposure, and its recovery is conditional on the first reward. "Never risk your own money" does not mean the fee is costless. Broader exposure is examined in can you lose money with a prop firm.
Passing and receiving money are different events
Passing the Challenge, passing Verification, and receiving a reward are three distinct events: the fee reimbursement and any reward are tied to the reward event, not to evaluation completion. Payout eligibility is a separate topic covered in prop firm withdrawal requirements, and no such details are asserted here.
Historical firm closures are context, not odds
Historical closure estimates describe the past market, not your odds. According to estimates gathered by Finance Magnates Intelligence, between 80 and 100 proprietary trading firms may have disappeared from the market in 2024 (Exclusive: 80 to 100 Prop Firms Shut Down in 2024's Industry Reshuffle, accessed September 2026). It is a dated, attributed estimate: not a failure rate, not a probability of individual closure, and not an FTMO-specific prediction. Closure consequences are discussed in what happens if a prop firm shuts down.
Verified facts at a glance
Each documented fact below is attributed to its published source.
| Fact from the research ledger | Source |
|---|---|
| FTMO discloses that all trading accounts it provides to funded traders are demo accounts | How it works / FTMO.com |
| FTMO's funded-trader reward structure lets traders earn up to 90% of the simulated profits they generate as a performance reward | How it works / FTMO.com |
| FTMO offers funding evaluations across a fixed set of simulated account sizes, from $10,000 up to $200,000 | How it works / FTMO.com |
| Trade press analysis (Finance Magnates Intelligence) estimates that between 80 and 100 proprietary trading firms may have disappeared from the market in 2024 | Exclusive: 80 to 100 Prop Firms Shut Down |
| The FTMO $10,000 account carries a one-time challenge fee of €89, refundable only with the first reward after qualifying as an FTMO Verified Prop Trader | FTMO (promo) |
Frequently Asked Questions
Are the accounts at FTMO real or simulated?
FTMO discloses that all trading accounts it provides to funded traders are demo accounts with fictitious funds, and that any trading takes place in a simulated environment only. Source: How it works | FTMO.com.
How much of the simulated profits can an FTMO funded trader earn?
FTMO's funded-trader reward structure lets traders earn up to 90% of the simulated profits they generate as a performance reward; the conditions behind the maximum are set by the firm. Source: How it works | FTMO.com.
Which simulated account sizes does FTMO offer?
FTMO offers funding evaluations across a fixed set of simulated account sizes, from $10,000 up to $200,000 (How it works | FTMO.com, retrieved 2026-09-26).
How many prop firms disappeared in 2024, according to trade press?
Estimates gathered by Finance Magnates Intelligence suggest between 80 and 100 proprietary trading firms may have disappeared in 2024: a dated historical estimate, not a failure rate. Source: Exclusive: 80-100 Prop Firms Shut Down in 2024's Industry Reshuffle.
What is the fee for the FTMO $10,000 account?
The FTMO $10,000 account carries a one-time challenge fee of €89, reimbursed with the first reward once the trader becomes an FTMO Verified Prop Trader (FTMO (promo), accessed September 2026).
What is the fee for the FTMO $50,000 account?
The FTMO $50,000 account carries a one-time challenge fee of €345, with the same reimbursement condition: only with the first reward after becoming an FTMO Verified Prop Trader (FTMO (promo), accessed September 2026).
Sources
- How it works | FTMO.com ftmo.com Retrieved 2026-09-26.
- Exclusive: 80–100 Prop Firms Shut Down in 2024's Industry Reshuffle financemagnates.com Retrieved 2026-09-26.
- FTMO (promo) promo.ftmo.com Retrieved 2026-09-28.