FT Mogul provides a 2-step and 1-step evaluation model with profit targets ranging from 8% to 10%.
The profit split can be as high as 90% (with an additional fee). Trading commissions are $7 per round lot for forex, metals, and cryptocurrencies, while oils and indices are commission-free.
Company Details and Important Information
FT Mogul stepped into the prop trading scene in March 2023, setting up shop in Ireland with a clear mission: to revolutionize the trading landscape by providing accessible funding to talented traders without the burden of debt. The company is headquartered at 1 Inniscarra Main Street, Rathcoole, Dublin, Ireland D24 EO29.
FT Mogul does not operate with real money during the evaluation or funded stages. All trading activity takes place in a simulated environment using virtual funds, which eliminates capital risk for the firm.
Summary of Services and Features
The prop firm offers a range of features designed to attract and support talented traders. Here's a comprehensive summary of what FT Mogul brings to the table:
Account Currency | USD, EUR, GBP |
Minimum Price | $99 |
Maximum Leverage | 1:100 |
Maximum Profit Split | 90% |
Instruments | Forex, Crypto, Metals, Oils, and Indices |
Assets | Not Specified |
Evaluation Steps | 1-Step, 2-Step |
Withdrawal Methods | USDT, Bank Transfers, PayPal |
Maximum Fund Size | $6.9M |
First Profit Target | 8% |
Max. Daily Loss | Up to 5% |
Challenge Time Limit | No Limits |
News Trading | Allowed |
Maximum Total Drawdown | Up to 8% |
Trading Platforms | DX Trader |
Commission Per Round Lot | $7 for Forex, Metals, and Cryptocurrencies None for Oils and Indices |
Trustpilot Score | Not Rated |
Payout Frequency | Bi-weekly |
Established Country | Ireland |
Established Year | 2023 |
Advantages And Disadvantages of FT Mogul
When considering this firm as your prop trading partner, it's crucial to weigh both the advantages and disadvantages. Here's a balanced look at FT Mogul's pros and cons:
Advantages | Disadvantages |
High Capital Access of Up to $6.9M | Trading Platform Limited to One Option |
Generous Profit Split of Up to 90% | Strict Rules and Difficult Evaluation |
Partnership with a Regulated Broker | - |
Diverse Instruments | - |
What Are The Funding Options and Account Prices?
The prop firm offers an option for scaling funds besides the default available funding. Funding Levels and Initial Fees in FT Mogul:
Funding | Scalable Up to | 1-Step Price | 2-Step Price |
$10,000 | ~$690K | $109 | $99 |
$25,000 | ~$1.7M | $219 | $199 |
$50,000 | ~$3.5M | $389 | $349 |
$100,000 | ~$6.9M | $649 | $589 |
Each trader is limited to a total allocation cap of $1 million across a maximum of four active accounts.
FT Mogul offers a refund on the one-time assessment fee once a trader earns a 10% profit on their funded account. This refund is issued alongside the first profit payout.
It’s important to note that any purchased add-ons (e.g., for removing stop-loss requirements) are non-refundable.
Register and Verify on FT Mogul
We tried to create an account with the mentioned prop firm, but after clicking the "Get Started" button on the home page, we faced this page:
As it appears, currently it is impossible to open an account with the prop firm. This is a sign of low quality of services in a firm and should be taken into account.
Evaluation Phase Conditions
FT Mogul offers two different evaluation paths for traders seeking funding: the Standard and the On-Phase Quick Funding. The former is based on a two-step model.
No time limits of any kind are applied to any of these challenges. Also, various trading styles like scalping are accepted. Besides, holding positions overnight and over the weekend is allowed.
Standard
The 2-step challenge follows a more traditional prop firm evaluation model, more suitable for less experienced traders. Here are the rules:
Profit Target | 8%-5% |
Max. Total Drawdown | 8% |
Max. Daily Loss | 5% |
Max. Leverage | 1:100 |
Profit Split | 80% (Scalable Up to 90%) |
One-Phase Quick Funding
This 1-step challenge is designed for experienced traders looking for rapid access to funded accounts. Evaluation Details:
Profit Target | 10% |
Max. Total Drawdown | 6% |
Max. Daily Loss | 3% |
Max. Leverage | 1:100 |
Profit Split | 80% (Scalable Up to 90%) |
FT Mogul Bonuses and Promotions
As of the latest information available, the firm does not offer any specific bonuses or promotions beyond its core funded trader program. However, like with many other prop firms, there are occasionally promo codes on third-party websites for FT Mogul.
Check out these sources in order to get your hands on the latest discount codes available.
FT Mogul Rules
As with many platforms, the prop firm sets certain conditions to maintain fair trading; Key Points of FT Mogul Policy:
- VPN & VPS Usage: Not mentioned on the website;
- Hedging: No data was found on the website;
- Expert Advisors (EAs): EAs are allowed if customized by the trader or if purchased and modified for personal strategies;
- Martingale & Arbitrage Strategies: Not mentioned on the website;
- News Trading: No data was found on the website.
Expert Advisor (EA) Usage
You are allowed to use Expert Advisors (EAs), but only if you are the developer or if you have purchased a commercial EA and customized its functionality for your specific trading strategy. Unmodified commercial EAs are not permitted.
Does FT Mogul Offer Several Trading Platforms?
The prop firm exclusively uses the DX Trader platform for its funded accounts. This software is popular in the industry and is used by many prop firms. It offers all of the essential features and benefits for traders, including analytical tools, convenient interface, mobile application, and more.
Unlike other Prop Firms that offer multiple platforms, like MT4, MT5, or cTrader, this limitation may be a drawback for traders with platform-specific strategies. While the firm has indicated plans to integrate additional platforms, no rollout timeline has been announced.
Tradable Instruments and Assets
As stated on the FT Mogul's website, the prop firm offers the trading instruments available via ThinkMarkets. These symbols range from the Forex Market to Cryptocurrencies.
- Forex
- Crypto
- Precious metals
- Oil
Whether you're a forex specialist, a crypto enthusiast, or prefer traditional commodities and indices, this prop firm's offering provides ample room for implementing diverse trading approaches.
FT Mogul Prop Firm Payment Options
FT Mogul offers a variety of options for receiving payouts to accommodate traders from different regions and with different preferences. Here's an overview of the available methods:
- Bank transfers
- PayPal payment platform
- USDT cryptocurrency
Unfortunately, the broker does not provide any data regarding the methods used for buying accounts.
While FT Mogul claims to have issued numerous payouts to successful traders, the firm does not publicly publish these figures on its website. However, payout certificates are available for review in their Discord community, offering some transparency into trader compensation.
Trading Commissions And Costs
Understanding the commission structure and associated costs is crucial when evaluating a prop firm. Here's a detailed breakdown of FT Mogul's fee structure:
- Trading Commissions: Forex, metals, and cryptocurrencies are charged $7 per lot; Oils and indices incur no commission (spread only;)
- Spreads: Variable spreads that fluctuate based on market conditions;
- Other Fees: No hidden fees or other costs.
Note that the initial fees are refundable after reaching the profit target.
Education Materials
Based on our investigations, FT Mogul does not provide many resources dedicated to educational purposes on its website.
The only materials available are limited to a blog with 1 single article and an FAQ section with questions about the prop firm itself.
Check TradingFinder's comprehensive Forex Tutorials to access a vast amount of educational resources.
Trust Scores and Reviews
While Trustpilot has made a profile for the prop firm, there are no reviews on the FT Mogul Trustpilot profile.
However, it has claimed a profile on trustpilot.com, but no reviews for it have been submitted. The lack of reviews could be because of the short track record of the company, operating since 2023.
Customer Services and Support Channels
FT Mogul is one of those rare firms with phone call support and other channels. Let's take a look at all of the available contact options:
- Live Chat: Via the official website
- Email: info@ftmogul.com
- Phone Number: +447714275918
- Ticket: On the "Contact" page of the website
Although the company claims to provide support services 24/5, during our attempt to contact with them through the live chat, they never responded back. We are very disappointed with the customer services offered on FT Mogul.
FT Mogul Channels and Pages On Social Media
Most companies and firms have social media pages and accounts on several platforms on the internet. However, based on our investigations, the discussed prop firm in this review does not currently maintain any of such channels.
FT Mogul in Comparison with Other Prop Firms
By using the data in the table below, you can decide whether Ft Mogul is the right platform for their needs; Ft Mogul Comparison:
Parameter | Ft Mogul Prop Firm | |||
Minimum Challenge Price | $99 | $55 | $39 | $33 |
Maximum Fund Size | $100,000 ($6.9M Scaled) | $200,000 | $250,000 | $400,000 |
Evaluation Steps | 1-Step, 2-Step | 1-phase, 2-phase | 1-Step, 2-Step, 3-Step | 1-Step, 2-Step, 3-Step, Instant Funding |
Profit Share | 90% | 80% | 100% | 100% |
Max Daily Drawdown | 5% | 4% | 5% | 7% |
Max Drawdown | %8 | 6% | 10% | 14% |
First Profit Target | 8% | 8% | 5% | 6% |
Challenge Time Limit | Unlimited | 5 Days | Unlimited | Unlimited |
Maximum Leverage | 1:100 | 1:100 | 1:100 | 1:100 |
Payout Frequency | Bi-weekly | 2 Times a Month | Bi-weekly | Weekly |
Number of Trading Assets | Not Specified | 200+ | 3000+ | 40+ |
Trading Platforms | DX Trader | Metatrader 5, CFT Platform and Crypto Futures | Metatrader 5 | MetaTrader 5, Match Trader |
Expert Suggestions
FT Mogul offers flexible withdrawal options, including PayPal, bank transfers, and USDT bi-weekly. The platform’s challenge prices are relatively low: $99 for a 2-step account with $10,000 in capital.
However, some drawbacks include limited platform options, a high first profit target of 8% in the 2-step challenge, inconsistent customer service, and a tight max daily loss of 3%.