Prague-based prop trader FTMO is going to launch a brokerage, to be headed up by Michael Kamerman. FTMO was founded 10 years ago, and with many brokers deciding to launch their own prop trading businesses, has obviously decided to take a shot at the broking business.
Kamerman is a well-known face in the European trading sector having previously held the role of CEO at Skilling. He has also worked for FXCM.
FTMO has seen over 1.5m people try its platform. The new venture will see the company combining its existing prop trading activities with traditional broking. FTMO said that the co-founders of the firm will remain in their respective positions of CEO and CTO.
Kamerman raised over $10m in growth funding while at Skilling including an impressive performance last year, with Skilling hitting all time highs in terms of active clients, net revenue and trading volume, among other key metrics. Under him Skilling also obtained a regulatory license from the FCA in the UK.
FTMO offers its customers special trading accounts linked to monitoring applications. This allows traders to improve, especially in the area of risk management. To move to the next stage, the customer must go through a series of tests, for which he pays a certain fee, which is returned to him after fulfilling the conditions and with the first payout. Customers who make it to the final collaboration keep up to 90% of the profits made.
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Who are FTMO?
The company was founded by three students who, based on their own experience with undercapitalisation in trading, decided to start a project that would help potential traders with insufficient funds. In addition, the goal was to help potential customers with financial discipline and the psychological side.
In 2015, FF Trader and the Získejúčet.cz project were founded, which operated only in the Czech Republic and Slovakia. Although the founders did not receive support from their school’s student accelerator and faced countless technical and legal hurdles in the first year, they still managed to get the project off the ground. In 2016, FTMO received an investment that allowed it to expand its product offering with more capital.
FTMO has gradually sought to improve its reputation among potential customers by offering new and better solutions and applications and gradually expanding its product offering to include accounts with more funds to trade. In addition, it started offering its own solution on the MetaTrader platform, which is completely independent of other brokerage companies.
In 2020, the company’s Czech brand Získejúčet was abolished and unified under one brand, FTMO, consolidating its position as a global brand in the modern prop trading industry.
FTMO made two acquisitions in 2023. The first was Quantlane, a quantitative trading firm that trades on several global exchanges, founded in 2014. The second acquisition was eVisions, a full-service online marketing agency providing Internet advertising services.
