Are you curious about if can you hold trades over the weekend with FTMO? At FTMO, you can hold trades through the weekend. During the Evaluation Process, which includes the FTMO Challenge and Verification.
Curious about how holding trades over the weekend affects your trading? Keep reading. It’s an essential aspect of trading that’s worth exploring further.
Can You Hold Trades Over the Weekend With FTMO?
If you’re wondering if you can keep trades over the weekend with FTMO, the answer is yes, but it depends on your stage in the Evaluation Process. In the FTMO Challenge and Verification stages, traders can hold trades over the weekend.
However, once a trader becomes an FTMO Trader, closing positions before the weekend is mandatory. This rule doesn’t apply to FTMO Traders with an FTMO Account Swing.
The FTMO Account Swing is ideal for those who like holding weekend positions, with no restrictions on trades or news trading.
FTMO enforces trading rules, like not trading specific instruments during certain news releases. Traders must adhere to these limitations. FTMO’s Evaluation Process sets Trading Objectives to show discipline and experience. Meeting these is crucial to pass the FTMO Challenge and proceed to Verification.
FTMO provides various account options, like the FTMO Account and FTMO Account Swing, catering to different preferences. Choose the type that aligns with your style for effective trade management and success potential.
It’s important to note that trading hours for cryptocurrencies may vary due to scheduled maintenance. it’s advisable to check the specific trading hours for the instruments being traded. Additionally, FTMO does not charge commissions for trading cryptocurrencies, and the maximum leverage for trading FX is 1:100
FTMO Evaluation Process:
FTMO, a modern proprietary trading firm, lets forex traders showcase skills and risk management through its 2-step evaluation process.
The Evaluation Process, including the FTMO Challenge and Verification, uncovers trading talents and ensures responsible trading and risk management. During the Evaluation Process, traders can hold trades overnight and over the weekend, based on their chosen account type.
The FTMO Evaluation Process has specific Trading Objectives that traders must meet to demonstrate their discipline and experience. It is essential to meet these objectives to pass the FTMO Challenge and move on to the Verification stage.
Traders in the FTMO Challenge aim for a profit in 30 days while managing risks. After becoming an FTMO Trader, closing positions before the weekend is mandatory, unless they have an FTMO Account Swing.
FTMO Traders can’t trade specific instruments during news releases, except those with an FTMO Account Swing. The Evaluation Process is a chance for forex traders to demonstrate skills and become an FTMO Trader with a live account up to 200,000 USD.
Frequently Asked Questions:
Can I Trade News?
During the FTMO Challenge and Verification, enjoy the flexibility of news trading.
After passing the Evaluation Process, note the trade restrictions. No new trades or closings are allowed on specified instruments for 2 minutes before and after certain news announcements.
It’s okay to keep existing trades open earlier. Violations may affect your FTMO Account Agreement. Other instruments not on the list can be traded as usual.
Example: Trade EURGBP freely during US – NFP release, but avoid USDJPY or GBPUSD during the 2-minute window around the NFP release.
Do I have to close my positions overnight?
In the FTMO Challenge or Verification stages, there’s no obligation to close your positions overnight. You can keep them open even over the weekend. Yet, as an FTMO Trader with an FTMO Account, it’s crucial to close positions before the weekend or during rollover periods exceeding 2 hours.
Respect for market timings is essential, considering different assets have varying trading hours. Regularly check the Trading Updates section for any alterations due to holidays or events. Platform-specific instructions guide you on checking standard market hours.
Note, that FTMO Account Swing holders enjoy more flexibility with no restrictions on news trading or weekend trades.