What attracted me to FTUK was their Instant Funded account, which was not cheap. They claim to allow you a daily draw down of 5% and a maximum draw down of 6%. To scale to a higher level, they want you to achieve 10% gain, in which they promised to share 50/50 with you - because its Instant Funded Account. I do respect my risk management, so I thought that is ok, I can manage. When you start trading though, their daily draw down becomes in reality 2%. That is frustrating because you have no room top operate. In all fairness, they set you up to fail. To make matters worse, even when I finally scaled through the 10% huddle (after blowing 3 different accounts), they refused to share the 10% profit and also found excuses to not scale my account as they promised. The only way you can continue to trade is without a hard-breach of their rules. Yet when you finally succeed, they begin to act like con-star. First, they congratulated me for passing their test, then turned around with funny excuses and refused to pay or upgrade my account. They said I risked more than 2% of my account in some trades. The truth is that they will tell you something, anything. Remember, they locked you in with a promise of 5% daily draw down. If you go to their Website right now, you will meet 5%, but that means nothing to them. Well, stay away from FTUK. Don't be like me.
That’s rough. So many firms lure traders in with ‘instant funding’ but then hit them with hidden rules that make it nearly impossible to actually get paid. I’ve found that looking for programs where capital scales based on real performance, rather than just passing a challenge, works much better in the long run. Firms like axi select or the5ers have models that reward consistent risk management and allow traders to grow their accounts over time instead of just gambling on passing a one-time test. Anything with clear risk parameters and real growth potential is way more sustainable.
Rule of thumb: Don't go for cheap or new firms in this space. Go with firms which have been around for a while - even if you have to pay a premium.