FTMO Challenge 2026: Price, Rules and How to Pass

The FTMO Challenge is FTMO's paid evaluation, sold as a 1-Step or 2-Step path, with fees from €79 to €1,080 depending on account size. You pass by hitting the profit target without breaching the daily loss limit or maximum drawdown, and on the 2-Step the fee is refunded with your first funded payout (the 1-Step fee is not refundable).

Most traders pick the wrong path on their first attempt. They see “1-Step” and assume faster means easier. It does not. The 1-Step has a 3% daily loss limit and a trailing 10% max drawdown that will end your challenge faster than the 2-Step if you are not a consistent compounder. The 2-Step gives you 5% daily loss room and a static drawdown, but you have to pass two phases.

This page breaks down every rule, every fee, and every trap across both challenge paths so you can pick the one that fits how you actually trade.

What Is the FTMO Challenge?

The FTMO Challenge is FTMO’s evaluation process for funded trading accounts. You pay an entry fee, trade a simulated account under FTMO’s rules, and if you hit the profit target without breaching any risk limits, you get access to a funded account where you trade with the firm’s capital and keep 80-90% of the profits.

The key word is simulated. FTMO does not hand you a live brokerage account during the challenge. You trade on demo pricing that mirrors live market conditions. The spreads, the execution, and the platform are real. The money is not. But the rules are enforced as if it were real, and the funded account you earn at the end pays real money.

FTMO has operated this model since 2015. The firm has paid out $650M+ to funded traders since then (FTMO, checked 23 October 2026), holds a 4.8/5 Trustpilot rating across more than 40,000 reviews (Trustpilot, checked 2026-10-09), and in December 2025 FTMO completed its own acquisition of OANDA Global Corporation. The evaluation model is not new, and the payouts are not theoretical.

There is no time limit on either challenge path. You can take as many trading days as you need to reach the profit target, as long as you do not breach the daily loss limit or the max drawdown. This is a structural advantage over firms that impose 30-day or 60-day deadlines. It means you can trade your normal pace without rushing.

The challenge exists because FTMO needs to filter out traders who will lose the firm’s money. The profit target proves you can generate returns. The daily loss and max drawdown rules prove you can manage risk. Both are non-negotiable.

FTMO 1-Step vs 2-Step at a Glance

Here is the side-by-side comparison of both challenge paths. Every rule, every metric, one table.

The headline difference: the 1-Step is a single-phase evaluation with a tighter risk envelope but a higher profit split. The 2-Step is a two-phase evaluation with more room for error but a lower starting split.

Neither is “easier.” The 1-Step compensates for having one phase by making the rules tighter. The 2-Step compensates for wider rules by making you do it twice. The pass rate per attempt is roughly similar for both paths when you account for the different failure modes.

FTMO Challenge Fees by Account Size

Here is the full fee schedule for both challenge paths across all five account sizes.

Three things worth noticing.

First, the 1-Step is cheaper at every tier. At $100K the 2-Step costs €540 against €499 on the 1-Step, so the 2-Step's wider rules come at a €41 premium. If cost is the tiebreaker, the 1-Step wins.

Second, the 2-Step Standard and 2-Step Swing are priced identically. The Swing variant adds news trading and weekend holds at no extra fee. If you are picking the 2-Step, there is almost no reason to pick Standard over Swing unless your broker does not support it.

Third, the 2-Step fee is refunded with your first reward, which makes the effective cost zero for a 2-Step trader who passes on the first attempt. The 1-Step and Instant fees are not refunded. It does not make the cost zero for a trader who fails three times. Plan for at least two attempts when you budget.

Starting at the smallest size? The FTMO 10K challenge fee page breaks down the €79 1-Step and €89 2-Step entry, the rules, and what the fee covers.

1-Step Challenge Rules Breakdown

The 1-Step Challenge is a single-phase evaluation. Hit the 10% profit target without breaching the daily loss limit or the trailing max drawdown, and you get a funded account. No second phase. No verification period.

That sounds clean. The rules that make it work are tighter than the 2-Step in every dimension that matters.

Profit Target: 10%

You need to generate 10% profit on the starting balance. On a $100K account, that is $10,000. On a $10K account, that is $1,000. There is no time limit, so you can take as many trading days as you need.

The trap: 10% in a single phase sounds achievable, and it is for traders who compound 1-2% per day. It is a trap for traders who try to hit it in three big trades, because the 3% daily loss limit does not give you enough room for three large losing trades before the challenge ends.

Daily Loss Limit: 3%

Your daily loss cannot exceed 3% of the starting balance for that day. On a $100K account, that is $3,000. On a $10K account, that is $300.

The daily loss is calculated from the start of the trading day at midnight CE(S)T (6pm New York time for most of the year). This is the limit that ends most FTMO challenges. It is not the max drawdown. It is not the profit target. It is this one number.

The reset happens at midnight CE(S)T. If you are a US-based trader, that is 6pm New York time. You cannot trade into the close thinking the next session starts a fresh daily limit. The “next day” you think you are in is still the previous FTMO day until midnight CET.

Max Drawdown: 10% Trailing

Your max drawdown cannot exceed 10%. On the 1-Step, this is a trailing drawdown. That means the drawdown floor rises as your balance grows.

Example on a $100K account: your starting balance is $100,000. Your max drawdown floor starts at $90,000 (10% below). If you grow the account to $108,000, the floor trails up to $97,200 (10% below the peak). You now have $10,800 of room from the current balance, not the original $10,000.

The trailing drawdown is the reason the 1-Step is harder than it looks for swing traders. A profitable trade that pushes the balance up also pushes the drawdown floor up. If the market reverses and you give back some of those gains, the floor does not drop back down. You can be in profit overall and still breach the trailing drawdown.

Compare this to the 2-Step, where the max drawdown is static. The floor stays at $90,000 regardless of how high the balance goes. That is a structural advantage for strategies with wider equity swings.

Consistency Rule: 50% Cap

This is the rule that catches profitable traders on the 1-Step. Your single best trading day cannot exceed 50% of your total positive days’ profit.

If your best day is 6%, you need at least 12% across all positive days combined to clear the rule. If your best day is 5%, you need 10% across all positive days.

2-Step Challenge Rules Breakdown

The 2-Step Challenge is a two-phase evaluation. Phase 1 has a 10% profit target. Phase 2 has a 5% profit target. Both phases have the same daily loss and max drawdown rules.

The wider rules and the absence of the consistency rule make the 2-Step the more forgiving path for most traders. The trade-off is that you have to pass two phases instead of one, and the base profit split starts at 80% instead of 90%.

Phase 1: 10% Profit Target

The first phase is identical to the 1-Step’s target. Generate 10% profit on the starting balance without breaching the daily loss or max drawdown. The difference is that the daily loss limit is 5% (not 3%) and the max drawdown is static (not trailing).

On a $100K account: Phase 1 target is $10,000 in profit. Daily loss limit is $5,000. Max drawdown floor is $90,000 and stays there.

Phase 2: 5% Profit Target

After passing Phase 1, you move to Phase 2 (also called Verification). The profit target drops to 5%. The daily loss and max drawdown rules stay the same.

On a $100K account: Phase 2 target is $5,000. Same $5,000 daily loss. Same $90,000 floor.

The reduced target in Phase 2 is designed to confirm you can trade consistently without the pressure of a full 10% target. In practice, most traders who pass Phase 1 also pass Phase 2. The failure mode between phases is usually overconfidence: traders size up in Phase 2 because the target is smaller, then breach the daily loss on a bad trade.

Daily Loss Limit: 5%

Your daily loss cannot exceed 5% of the starting balance. On a $100K account, that is $5,000. On a $10K account, that is $500.

The extra 2% of daily loss room compared to the 1-Step sounds small. It is not. It is the difference between a single bad trade ending your challenge and having room to absorb it. On a $100K account, 2% is $2,000. That is enough to survive a bad London session and still be in the game the next day.

Max Drawdown: 10% Static

The max drawdown is 10% of the starting balance, and it is static. The floor does not move when your balance grows.

On a $100K account, the floor is $90,000. If you grow the account to $115,000, the floor is still $90,000. You have $25,000 of room from the current balance instead of $10,000 on the trailing drawdown.

This is the single biggest structural advantage of the 2-Step over the 1-Step for swing traders and any strategy with wider equity swings. The static drawdown means a profitable trade that pushes the balance up does not simultaneously tighten your risk envelope.

No Consistency Rule

The 2-Step has no consistency rule. You can hit the entire profit target on a single trade. You can have one massive day and zero on every other day. The rule does not care how you distribute the profit, only that you hit the target without breaching the risk limits.

This is why the 2-Step is the better fit for swing traders, news traders (on the Swing variant), and any trader whose edge comes from catching one or two big moves rather than compounding small daily gains.

The 2-Step Swing Variant

The 2-Step Swing is identical to the 2-Step Standard in every rule and every price, with two additions: you can trade during high-impact news events and you can hold positions over the weekend.

For traders whose strategies depend on news catalysts or multi-day holds, the Swing variant is the only mainstream FTMO path that allows it. The Standard variant restricts trading within 2 minutes before and after high-impact news events and prohibits weekend holds.

There is no price premium for the Swing variant. It costs the same as the Standard. If you are picking the 2-Step, the Swing is the default choice unless you specifically do not want news or weekend exposure.

How the Free Trial Helps You Prepare

FTMO offers a 14-day Free Trial that puts you on a demo account with the actual challenge rules baked in. You get the Account MetriX dashboard, you get the daily loss counter, and you get a feel for the execution environment.

It is free. It is unlimited. You can take as many Free Trials as you want. No credit card required.

The Free Trial is the single most underused feature in the FTMO ecosystem. The traders who pass on the first paid attempt almost always ran the trial first. The traders who skip it and go straight to the paid challenge are the ones who fail on daily loss breaches they did not see coming.

Here is what the trial gives you: 14 days of trading under the exact rules you will face in the paid challenge. If your strategy blows through the 3% daily loss on the trial, it will blow through it on the paid challenge too. The difference is that the trial cost you nothing and the paid challenge cost you €79-€1,080.

For the full breakdown of what the Free Trial includes, how to set it up, and why most traders skip it, read our FTMO Free Trial guide.

What Happens After You Pass

After you pass either challenge, FTMO sets up your funded account. You trade with the firm’s capital under the same daily loss and max drawdown rules. The profit target goes away. You earn a profit split on every dollar you generate.

On the 1-Step, the split is 90% from day one. On the 2-Step, the split starts at 80% and scales to 90% through the Scaling Plan.

You can request your first payout from day 14 after your first trade; review takes 1-2 business days, then payment takes 1-2 business days after the invoice is approved. On the 2-Step, the fee is refunded in full with your first payout; the 1-Step fee is not refundable.

The funded account is not a free-for-all. The daily loss and max drawdown rules still apply. After your first payout, the daily loss and max drawdown still apply. Breach them and you can lose the account just like you failed the challenge.

For the complete breakdown of funded account rules, profit splits, payout methods, the Scaling Plan, and common mistakes that lose funded accounts, read our FTMO Funded Account guide.

Is the FTMO Challenge Worth It?

Yes, conditionally.

If you want to see the alternatives before you commit, the full ranking of firms we have tested sets out where FTMO sits and what each one costs.

FTMO is the trust default in retail prop trading. $650M+ in verified payouts since 2015, a 4.8/5 Trustpilot rating across more than 40,000 reviews (Trustpilot, checked 2026-10-09), and a regulated broker (OANDA) now inside the group that adds regulatory credibility. When you pass the challenge and earn a payout, the money arrives. That is not true of every firm in this industry.

The fee is real and it is higher than newer competitors. But the 2-Step fee is refundable with the first reward, which means the effective cost to a passed 2-Step trader is zero. The 1-Step and Instant fees are not refunded. The fee is a gate, not a sunk cost.

The rules are strict, especially on the 1-Step. The 3% daily loss limit and the trailing drawdown will end more challenges than the profit target. But strict rules that are enforced consistently are better than loose rules that change when you ask for a payout. FTMO enforces consistently.

The question is not whether the challenge is worth it. The question is whether your strategy fits the rules. Run the Free Trial first. If it fits, buy the challenge. If it does not, fix the strategy or find a different firm.

Check current FTMO challenge price   Start the 14-day Free Trial

FTMO Challenge Fees in 2026: What Changed and What It Costs You Now

Fees are the thing readers email me about, so let me pin down where FTMO pricing stands in 2026. The 1-Step runs from €79 at $10K up to €999 at $200K.

The 2-Step runs €89 to €1,080 across the same sizes.

All FTMO fees and rule percentages below come from ftmo.com, checked 9 October 2026.

The 1-Step is a separate product, not a variant. It has its own fee schedule, its own 3% daily loss limit, and its 50% consistency rule.

Two doors into the same funded account, and the choice genuinely changes which traders should buy which product.

The other change worth knowing: FTMO completed the acquisition of OANDA Global Corporation in December 2025. I have watched readers ask whether that means rule changes or payout trouble.

Nothing in the challenge structure has shifted, and owning a regulated broker group behind a payout record of $650M+ is, if anything, a small positive for the trust question.

What I tell people who ask whether to wait for a discount: the 2-Step fee is refunded with your first reward, so the price matters mainly if you fail (and on the 1-Step, where the fee is not refunded). The discount hunters who wait three months for 10% off usually needed those three months for the Free Trial instead. If you are set on waiting, read whether to wait for Black Friday before you decide.

That trade is backwards.

My own rule is boring and it has saved me money. Pick the account size, run the Free Trial at that size until the rules feel mechanical, then buy the attempt I have already proven on trial.

If you want the full history of every fee line and every promo pattern, our FTMO account prices guide keeps it current.

Which FTMO Challenge Fits Your Trading Style: A Straight Answer

Most comparisons stop at the rule table. You deserve the actual decision, made by someone who has bought both.

Here is how I choose, and it comes down to one question: where do your profits come from?

If your profits arrive in chunks, one or two meaningful moves a week, take the 2-Step. The static drawdown leaves your gains alone, and the absence of the consistency rule means a monster Tuesday cannot delay an otherwise passing month.

Swing traders and news traders, this is your door.

If your profits arrive as a trickle, small steady gains most days, the 1-Step is genuinely attractive. The 90% split from day one is the real headline.

The trailing drawdown barely registers for a trader who banks small gains, because the floor rising to meet your balance hurts exactly the traders who give profits back.

The trap is choosing the 1-Step for speed and then trading it like a swing account. I have done this.

The trailing drawdown followed my balance up through a good week, then one normal reversal on an oversized position put the floor right in front of price. The account survived, barely, and I learned that the 1-Step is not a faster 2-Step.

Not everyone suits a challenge at all, and instant-funding firms take a different route, which is covered in our Vest Markets review.

It is a different game with different physics.

One more honest note from my own results. My best funded performance has come from the most boring configuration: the 2-Step, the smallest account I could tolerate, risk capped at half a percent, and no size increases until the first payout cleared.

Nothing about that is clever. It is just the setup where my discipline never has to fight my ambition.

Once you have picked your door, the remaining question is survival, and the risk of ruin calculator will tell you whether your position size survives a normal losing streak under the 3% or the 5% daily limit. If you are weighing one-phase against two-phase in general, not just at FTMO, our breakdown of one-step vs two-step challenges covers the wider trade-offs.