1. Company Background and Reputation
When comparing these two firms, we are essentially contrasting the undisputed industry leader against an aggressive, feature-rich newcomer.
FTMO is the established veteran. Founded in 2015 and headquartered in Prague, Czech Republic, it set the standard for the modern prop trading industry. With a TrustPilot score of 4.8, it is widely regarded as the safest option in the market due to its longevity and track record of payouts. Its CEO, Otakar Suffner, is a public figure, adding a layer of transparency.
AquaFunded, established in 2023 and based in Dubai, UAE, represents the new wave of prop firms. While it has a lower TrustPilot score (3.8), it attempts to disrupt the market by offering significantly more variety in funding models and aggressive payout terms. However, as a younger company, it lacks the decade-long historical data that backs FTMO's stability.
It is worth noting the geographical restrictions:
- FTMO has a strict list of banned countries including Russia, India, and Venezuela.
- AquaFunded restricts fewer regions but bans countries like Iran, Syria, Kenya, and Pakistan.
2. Funding Models and Evaluation Types
This is where the strategies of the two firms diverge significantly.
FTMO sticks to a classic, streamlined approach. They offer the Evaluation Process (2-Step) only. They do not offer 1-step, 3-step, or instant funding models. Their focus is on a single, proven method of verifying traders.
AquaFunded offers a massive variety of options to suit different risk appetites:
- Instant Funding: Start trading immediately with no evaluation (Standard and Pro versions).
- 1-Step Evaluation: For traders who want a faster route to funding (Standard and Pro).
- 2-Step Evaluation: The industry standard, similar to FTMO.
- 3-Step Evaluation: Lower risk per phase, but a longer road to funding.
If you are looking for Instant Funding or a 1-Step challenge, AquaFunded is the only option here. If you prefer the traditional 2-step model, both firms offer it, but FTMO’s is the "original" format.
3. Trading Rules and Restrictions
The trading environment and freedom differ greatly between the two.
Consistency Rules:
- FTMO: Offers total freedom in this regard. There are no consistency rules, meaning you can make the bulk of your profit in one day without penalty.
- AquaFunded: Enforces a strict Consistency Rule on most accounts. One trading day cannot account for 15% to 25% (depending on the plan) of your total profits during a payout period. This requires a more distributed profit generation strategy.
News Trading:
- FTMO: On the Standard account, opening or closing trades is restricted 2 minutes before and after high-impact news. However, Swing accounts have no restrictions.
- AquaFunded: On funded accounts, trades cannot be executed 5 minutes before or after high-impact news (Red folder/FOMC). Profits made during this time are removed, though the account is not breached.
Weekend Holding:
- FTMO: Standard accounts require closing positions on weekends. Only Swing accounts allow weekend holding.
- AquaFunded: generally allows holding positions over the weekend on most accounts without needing a specific "Swing" variation.
Prohibited Strategies:
Both firms ban cheating strategies like arbitrage, tick scalping, and account rolling. However, AquaFunded has a unique, stricter rule for its Instant Funding and AquaMan accounts: if your floating PnL drops below -2% of the account balance, the account is permanently closed. This "Maximum Risk Limit" is a tight constraint not found at FTMO.
4. Drawdown and Profit Targets
FTMO uses a static Max Drawdown for its challenge. The Maximum Loss is 10% and the Daily Loss is 5% (equity-based). The profit targets are 10% (Phase 1) and 5% (Phase 2).
AquaFunded has variable drawdown rules depending on the account type:
- Drawdown Type: While FTMO is generally static, AquaFunded uses a Trailing Drawdown (based on the highest value between equity and balance) for many of its accounts (Instant Pro, 1-Step, 2-Step Pro). Only the Instant Standard and 3-Step accounts have a Static drawdown.
- Profit Targets: AquaFunded targets vary. For example, their 1-Step Pro requires a 12% target, which is higher than the industry average. Their 2-Step Standard requires 8% in Phase 1, which is slightly easier than FTMO's 10%.
5. Payouts and Scaling
Payout Speed and Guarantee:
- FTMO: Payouts are processed bi-weekly (14 days). They are known for reliability, but they do not offer "guarantees" on speed beyond their standard processing times.
- AquaFunded: Offers a Payout Guarantee. They state that if a payout is not processed within 24 hours (business days), the trader receives an extra $1,000. Payouts are bi-weekly (14 days) by default, but an "add-on" can reduce this to 7 days for the first payout.
Profit Split:
- FTMO: Starts at 80%, scalable to 90%.
- AquaFunded: Starts at a higher baseline of 90%, with the potential to scale to 100% via add-ons or scaling plans.
Scaling Plan:
- FTMO: Requires a 4-month cycle with at least 10% profit. Capital can scale up to $2M.
- AquaFunded: Requires a 3-month cycle with 12% profit. Capital can scale up to $4M, doubling FTMO’s cap.
6. Platforms and Technology
FTMO remains one of the few firms that still offers the full suite of MetaTrader platforms (MT4 and MT5) alongside cTrader and DXTrade. For traders heavily reliant on MT4 legacy indicators, FTMO is the preferred choice.
AquaFunded has moved away from MT4. They offer MetaTrader 5, cTrader, DXTrade, TradeLocker, and MatchTrader. While they lack MT4, they provide a wider range of modern, TradingView-integrated platforms like TradeLocker and MatchTrader.
7. Pricing
In terms of cost entry, AquaFunded is generally more affordable.
- A $100,000 2-Step Evaluation at AquaFunded costs roughly $517 (Standard) or $460 (Pro).
- The same size account at FTMO costs €540 (approx. $570+ USD).
AquaFunded also provides very cheap entry points, such as the $5,000 challenge, which is accessible for beginners with low capital, whereas FTMO's smallest account is $10,000.
8. Summary: Which one should you choose?
Choose FTMO if:
- You prioritize safety and reputation above all else. You want a firm that has paid out for a decade without issues.
- You need MetaTrader 4 (MT4) for your Expert Advisors or indicators.
- You are a "lumpy" trader who makes big profits occasionally and cannot adhere to a consistency rule.
- You reside in a country restricted by newer firms but accepted by FTMO (e.g., UAE, Vietnam).
Choose AquaFunded if:
- You want Instant Funding or a 1-Step Evaluation to save time.
- You are looking for the highest possible profit split (starting at 90%).
- You prefer modern trading platforms like TradeLocker or MatchTrader.
- You are on a budget; their challenges are generally cheaper.
- You are a consistent trader who does not mind daily profit caps (consistency rules).
