Prop trading firm
FTMO for Canadians: Rules, Costs & Risks
By ForexCanada Editorial Team · Updated
Canada check
Prop 'evaluation' firms are not investment dealers and are not registered with Canadian securities regulators. You pay a fee to trade a (usually simulated) account under strict rules; payouts depend on the firm's terms and solvency. CIPF and OBSI do not apply.
- Canadian status
- Not a regulated dealer
- Canadian entity
- None — not registered in Canada
- CIPF coverage
- No
- OBSI complaints
- No Canadian ombudsman access
- Accepts Canadians
- Canadian eligibility unconfirmed
- Licences abroad
- —
- Founded
- 2015
- Headquarters
- Prague, Czech Republic
Our take on FTMO
FTMO popularized the two-step prop 'challenge': pass an evaluation with profit targets and loss limits, then trade a funded account (in practice usually simulated) with a share of profits paid out. It is one of the longest-running firms in the space. Understand that most applicants fail the evaluation and that the fee is the firm's core revenue.
Verdict
Among the more established prop firms — but treat the fee as money you can afford to lose.
What we like
- +Long track record compared with newer firms
- +Clear published rules
- +Multiple platforms
Watch out for
- −Not a regulated dealer
- −Most traders fail evaluations
- −Trading is typically on simulated accounts
Accounts, markets & platforms
- Platforms
- MT4, MT5, cTrader
- Markets
- Forex (40+ pairs) · CFDs
- Pricing
- One-off evaluation fee (refunded with first payout under its rules)
- CAD / USD accounts
- — CAD | — USD
- Demo account
- Not advertised
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify FTMO yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
Registered alternatives for Canadians
These firms are CIRO dealer members with CIPF-eligible accounts:
Interactive Brokers Canada
Online brokerage
Experienced, cost-sensitive traders who want forex, futures, options and global stocks in one account
Questrade
Online brokerage
Canadians who want TFSA/RRSP investing and forex/CFD trading with one Canadian firm
CMC Markets Canada
Forex & CFD broker
Traders who want the widest CFD and currency-pair range from a Canadian dealer
FTMO: frequently asked questions
Is FTMO regulated in Canada?
No. Prop trading evaluation firms are not investment dealers and are not registered with CIRO or provincial securities regulators. You are buying access to an evaluation programme, not opening a protected brokerage account.
Does FTMO offer MetaTrader?
Yes — FTMO supports MT4 and MT5.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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