XauBot Pro is chock full of amazing features, FTMO! And we really mean that because this one that we are going to discuss is one that really stands out from all the other features. We are going to talk about the FTMO compatibility of XauBot Pro.
The FTMO challenge is a series of steps or phases that you have to pass before you can get to the prop trading feature of this platform. But what is prop trading? What exactly is the challenge set by FTMO? And how does XauBot Pro help you pass this challenge successfully? The answers to all these questions can be found in this article.
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What Is Prop Trading or FTMO?
To find out how XauBot Pro helps you beat the FTMO challenge, which is a prop trading challenge, we must first understand what prop trading is.
Trading requires capital, which is sometimes referred to as trading capital or trading equity. Naturally, the more money or capital that you have the higher your chances of obtaining profits and also the higher the chances that the profits you obtain are considerable and significant.
But the reality of the matter is that your capital is not unlimited and as a trader you are bound to the amount of money that you have at your disposal for trading. There are different ways with the help of which you can increase your trading capital, such as using leverage which is really high risk. But then there is another way that is less risky and all the same gives you the chance to trade with a substantial amount of capital – yes we are talking about prop trading.
Prop trading is a method of trading in financial markets, such as the forex market, that allows you to trade with a much higher capital than you have. In fact, you do not need to have much or even at all in order to begin trading with this method.
But where does the money come from? In this method, a platform or a prop firm will provide you with the capital to trade. This way, you bring in the skill and talents that are associated with trading and the firm will only provide the capital. It’s like a win-win scenario where both parties benefit.
So, when you trade with their capital you get to keep some of the profits and the firm will in turn also receive some of the profits. And the capital that they provide for you will remain in circulation for trading.
But prop firms and platforms are not just giving out money to every trader that comes around. There is actually a series of tests that you have to pass first in order to obtain the trust of the prop firm that you are indeed a good trader and that you will not gamble away their money!
This is what we call a prop test or a prop challenge. But beating such challenges can be a difficult feat for most traders. And there is a reason for that. They make such challenges difficult enough to sift through the worthy traders who can trade efficiently and bring benefits to the prop firm as well.
Now, let’s take a look at one of the most well-known challenges in the world of prop trading and also how you can successfully pass it with the help of XauBot Pro.
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What Is the FTMO Challenge?
One of the most well-known prop trading firms is known as FTMO and it has a prop trading challenge for traders that is divided into 3 steps as follows:
- The first step is to register for the prop challenge and pay an entry fee of 155 Euros. And then the first step is to hit a profit target of $1000 in more than 4 days with a maximum loss of $1000 as the loss threshold.
- If you successfully pass the first step, then it is time for the second step. In the second step of the challenge, you must hit a profit target of $500 with the exact same conditions for trading.
- And if you are also successful in passing the second step, then you can get to the last step, the third step. The last step is when you actually become a prop trader with FTMO and you will also be refunded the entry fee that you had paid in the first step.
It sounds simple enough on paper, but beating this challenge can be quite, well, challenging!
But not to worry. XauBot Pro will help you pass this challenge. Let’s see how.
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How to Successfully Pass the FTMO Challenge with XauBot Pro?
So the very first thing we discussed in this article was that XauBot Pro has a unique feature known as FTMO compatibility. What does it mean?
In simple terms, it means XauBot Pro is fully compatible for passing prop trading challenges, especially the prop trading challenge of FTMO prop firm. This is because XauBot Pro is able to help traders obtain sustainable and consistent profits and thus be able to pass the challenge of this prop firm. And if you take a look at the challenge that is provided by this firm, you can see that the main aim it to be able to achieve profits consistently. This can be seen in the fact that there is no time limit for the challenge.
So you can implement XauBot Pro to become a prop trader on FTMO.
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Conclusion
Prop trading is a method with the help of which a forex trader can have access to substantial amounts of trading capital. This is when a firm, called a prop firm, will provide you with the capital to trade if you have the skill and competency for trading. We showed you in this article how you can use XauBot Pro to pass the prop trading challenge of the prop firm FTMO.
