1. Business Foundation and Geographic Reach
- Market Longevity: FTMO is one of the most established firms in the industry (founded in 2015), operating out of the Czech Republic. Tradexprop is a newer entrant (2023) based in Malaysia, representing a younger generation of prop firms.
- Geographic Restrictions: A critical difference lies in banned regions. FTMO has an extensive list of restricted countries including India, Kazakhstan, and several African nations. Tradexprop has a narrower restriction list (e.g., Vietnam, Pakistan), making it a viable alternative for traders excluded from FTMO’s ecosystem.
- Operational Transparency: FTMO operates as its own liquidity provider, whereas Tradexprop’s specific brokerage infrastructure remains undisclosed, though they utilize third-party platforms like cTrader and MatchTrader.
2. Evaluation Models and Capital Allocation
- Program Variety: FTMO offers traditional 1-step and 2-step evaluations. Tradexprop provides more flexibility by offering Instant Funding (Instant Funded X) in addition to 1-step and 2-step models for both Forex and Crypto.
- Max Capital Allocation: FTMO allows up to $400,000 (scalable to $2M via their Scaling Plan) and up to $600K through their "Prime Status." Tradexprop caps active evaluations at $1M total, but individual account types have lower limits (Forex at $400K, Crypto at $200K).
- Scaling Benefits: FTMO's scaling plan is performance-based (10% profit over 4 months), increasing the balance by 25%. Tradexprop offers a more aggressive 90% profit split on certain accounts but focuses less on a transparent institutional scaling path compared to FTMO’s Quantlane career track.
3. Drawdown Mechanics and Risk Management
- Drawdown Type:
- FTMO uses a Static Max Drawdown (10%), which is generally more trader-friendly as it doesn't move with profits.
- Tradexprop employs a mix: Static for evaluation phases (6-9%) but a Trailing Drawdown (8%) for their Instant accounts. This means the drawdown floor moves up with equity until it locks at the starting balance, increasing the pressure on funded traders.
- Daily Loss Calculation:
- FTMO calculates daily loss based on Equity, which accounts for floating losses.
- Tradexprop uses a combination of Balance or Equity (whichever is higher at the end of the day), creating a stricter boundary for traders holding positions overnight.
4. Trading Rules and Restrictions
- News Trading:
- FTMO allows news trading on "Swing" accounts without restrictions. On "Standard" accounts, there is a 2-minute window restriction before and after major events.
- Tradexprop is significantly more restrictive, prohibiting any new trades or closing positions within 3 minutes of news events across all evaluation plans. Violations here can lead to profit removal or account breach.
- Weekend Holding:
- FTMO permits weekend holding on Swing accounts and all evaluation phases.
- Tradexprop requires all trades to be closed by Friday 3:45 PM EST for Instant accounts unless an add-on is purchased, though it is permitted in their evaluation phases.
- The "Soft Breach" Advantage: Tradexprop offers a "Soft Breach" system where minor violations (like failing to close a position on Friday) result in the closing of the trade rather than the immediate termination of the account. This provides a safety net that FTMO does not offer.
5. Consistency Rules and Strategy Limitations
- Best Day Consistency:
- FTMO only applies a consistency rule to the 1-step Challenge (max 50% profit from one day).
- Tradexprop applies a stricter 45% consistency rule across their evaluation phases. If a trader earns nearly half their profit target in a single day, their target is adjusted upward, preventing "gambling" through high-volatility events.
- EA and Copy Trading: Both allow EAs, but both strictly prohibit third-party "pass-your-challenge" services. FTMO is more flexible with autonomous EAs, while Tradexprop emphasizes that the strategy should be the trader's own and prohibits strategy switching between phases.
6. Payout Frequency and Profit Splits
- Payout Speed: FTMO offers payouts every 14 days. Tradexprop follows a similar bi-weekly schedule for Forex, but their Crypto evaluations require a 30-day wait after the first payout.
- Profit Split: Both start at 80%. FTMO allows a permanent increase to 90% through scaling or Prime Status. Tradexprop offers up to 90% via add-ons or by default in their Crypto evaluation programs.
7. Summary and Recommendations
- Choose FTMO if: You are looking for long-term stability, a clear path to institutional trading (Quantlane), higher leverage (1:100), and a simpler drawdown model (Static). It is the better choice for experienced traders who want a "swing" environment without news or weekend restrictions.
- Choose Tradexprop if: You live in a country banned by FTMO, you prefer a "Soft Breach" safety net, or you are specifically looking for Instant Funding without undergoing an evaluation. It is also highly attractive for Crypto specialists due to the dedicated crypto plans and 90% default splits on those accounts.
