I've traded FTMO ~4 years ($15K+ withdrawn on 1-Step scalp) plus most firms compared here (The 5%ers Black Arrow Futures, FundedNext Stellar 2-Step, E8 Markets Futures). FTMO's structural moat post-2025 is the OANDA acquisition — no other prop firm owns a regulated broker. Full FTMO picture in the complete review. Sign up at FTMO.
FTMO and E8 Markets sit in different corners of the prop trading industry. FTMO is the Forex and CFD firm that created the challenge-based model in 2014: it is the market benchmark, with $329M in 2024 revenue and $500M+ in cumulative trader payouts. E8 Markets is a younger, multi-asset firm that runs three distinct tracks: Forex, Futures, and Crypto. If you trade only Forex or CFDs, these firms are direct competitors. If you trade futures or crypto, they are not competing at all. FTMO simply does not operate in those asset classes.
Paul has hands-on experience with both firms. He has traded FTMO for approximately 4 years, primarily scalping the 1-Step Challenge on $50K and $100K Standard accounts, with $15K+ in total payouts across multiple accounts. He has traded E8 Markets for 18 months on the Futures side, running 3 funded accounts in sequence and pulling around $4K in cumulative payouts. That first-person track record across both firms is the foundation of this comparison.
As of May 2026, both firms are active, accepting traders, and paying out.
What each firm actually is
FTMO is a Prague-based prop firm founded in 2014 (legal entity registered 2015). It operates on a simulated-account model using Forex and CFD markets. The firm's core offering is an evaluation challenge that leads to a funded simulated account, with profits split with the trader. FTMO is the largest prop firm by revenue and cumulative payouts in the industry. In February 2025, FTMO announced the acquisition of OANDA, one of the oldest regulated forex brokers globally, completing the deal in December 2025. FTMO founders Otakar Šuffner and Marek Vašíček became co-CEOs of OANDA in March 2026. For a prop firm to acquire a regulated broker is unprecedented and changes the trust calculus significantly.
E8 Markets is a multi-asset prop firm that offers evaluation-to-funded programs across three separate asset classes, each with its own rules and platforms. The Forex track operates on CFD-based simulated accounts similar to FTMO. The Futures track is exchange-based and uses a different cost model, platform ecosystem, and drawdown mechanic than the Forex side. The Crypto track adds a third distinct environment. E8's multi-asset structure is its main differentiator: no other firm in this comparison space offers all three cleanly segmented.
Asset classes: the core split
This is the axis that matters most when choosing between these two firms.
| Asset Class | FTMO | E8 Markets |
|---|---|---|
| Forex (CFD) | Yes — primary offering | Yes — dedicated Forex track |
| Indices (CFD) | Yes | Not a core track |
| Commodities/Metals (CFD) | Yes | Not a core track |
| Futures (exchange-based) | No | Yes — dedicated Futures track |
| Crypto (CFD or spot) | CFD-only, within Forex framework | Yes — dedicated Crypto track |
FTMO does not offer futures. This is not a gap or a coming feature. It is a deliberate model. FTMO runs on MetaTrader and cTrader, which are CFD platforms. Futures are exchange-traded instruments on platforms like NinjaTrader, Tradovate, or Rithmic, and the margin/commission structure is fundamentally different from CFD spread-based trading.
If you trade futures, FTMO is not the right firm for you. If you trade Forex or CFDs and want the most established prop firm in the industry, FTMO is the clear comparison anchor.
E8 Markets built separate infrastructure for each asset class. The Futures track is Paul's direct experience: 18 months, 3 sequential funded accounts, $4K in cumulative payouts, consistently positive experience. For traders who want exchange-based futures prop funding alongside Forex options, E8 is one of the few firms offering both in the same brand ecosystem.
For a deeper look at E8's multi-asset structure, the E8 Markets accounts overview walks through how each track differs. If you are specifically weighing the Futures angle, the E8 Futures pricing breakdown shows the commission-per-contract cost model versus FTMO's spread-based approach.
Challenge structure and rules
Both firms use a challenge-then-funded-account model. The evaluation mechanics differ significantly, especially on the Futures side.
FTMO's two paths:
The FTMO 1-Step Challenge targets a 10% profit with a 3% daily loss limit and a 10% trailing max loss (end-of-day trailing, not intraday). There is a Best Day Rule: no single profitable day can exceed 50% of total profitable days' gains. Minimum 4 trading days. No time limit.
The FTMO 2-Step Challenge uses a 10% Phase 1 target, 5% Phase 2 target, a more lenient 5% daily loss limit, and a static 10% max loss. No Best Day Rule applies on the 2-Step. Swing variants allow overnight and weekend holding.
Paul scalps the 1-Step. The tighter 3% daily loss limit is less forgiving, but the 90% profit split from day one and single-phase evaluation appeals to his trading style.
E8 Markets — Forex track overview:
E8's Forex evaluation uses a trailing drawdown structure by default. The E8 Markets rules overview covers the specifics: drawdown types, daily loss limits, best day rule mechanics, and the conditions under which drawdown levels shift as the account grows.
E8 Markets — Futures track:
The Futures side operates differently. Commissions replace spreads, margin structures reflect exchange requirements, and the drawdown is often measured differently than on CFD accounts. Paul traded this track for 18 months. The E8 Futures vs Forex comparison covers the structural differences between the two E8 tracks in detail.
| Rule Element | FTMO 1-Step | FTMO 2-Step | E8 Forex |
|---|---|---|---|
| Profit target (eval) | 10% | 10% / 5% | Varies by track |
| Daily loss limit | 3% | 5% | Trailing-based |
| Max drawdown | 10% trailing (EOD) | 10% static | Trailing |
| Min trading days | 4 | 4 per phase | Varies |
| Consistency rule | Best Day Rule | None confirmed | E8 version applies |
| Overnight holding | Standard: No / Swing: Yes | Standard: No / Swing: Yes | Depends on variant |
| Time limit | None | None | None |
Profit splits and payouts
FTMO's 1-Step Challenge awards 90% of simulated profits from the first payout, with no scaling plan required to reach that rate. The 2-Step Challenge starts at 80% and upgrades to 90% via the Scaling Plan. After achieving 10% net profit over 4 months and processing at least 2 payouts, the account size increases 25% and the split upgrades.
Payouts at FTMO are bi-weekly, with an average processing time of 8 hours. Challenge fees are refunded in full with the first payout. Payment methods include bank transfer, Skrill, and crypto.
E8 Markets Forex base split is 80%. E8's payout frequency is 14 days. The Futures side has its own payout schedule and mechanics. Paul's 18-month experience resulted in $4K in cumulative payouts, reflecting the smaller typical account sizes on the Futures track combined with the commission-heavy cost structure.
For Forex traders comparing the two firms purely on split percentage, FTMO's 90% from day one on the 1-Step is competitive. The FTMO payout rules guide covers the full payout timeline, fee refund mechanics, and what triggers the Scaling Plan upgrade.
Pricing
FTMO's 2-Step Standard pricing in EUR, per verified data from the brief:
| Account Size | 2-Step Standard | 1-Step |
|---|---|---|
| $10,000 | ~€155 | ~€79 |
| $25,000 | ~€250 | ~€199 |
| $50,000 | ~€345 | ~€319 |
| $100,000 | ~€540 | ~€499 |
| $200,000 | ~€1,080 | ~€999 |
Note: Pricing is JavaScript-rendered on FTMO's site and should be verified at ftmo.com before any purchase decision. Swing variants carry the same pricing as Standard.
FTMO currently has no active public promo code as of May 2026. The Prime Programme offers 10% off after 4 qualifying payouts, making it a loyalty reward rather than an acquisition offer.
E8 Markets pricing varies by asset class, account size, and subscription model (Futures is often monthly subscription-based rather than one-time fee). The code VIBES gives 10% off any E8 evaluation fee via e8markets.com/d/VIBES. This is an active deal worth using.
On a like-for-like Forex $100K comparison, FTMO's pricing is transparent and one-time with fee refund on first payout. E8 Futures pricing is monthly-subscription based and adds commission per contract on live trading. The E8 Futures pricing breakdown explains the total cost model in detail.
Platforms
FTMO supports three platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader. MT5 is the primary platform and is available to US traders via the OANDA partnership. FTMO is currently the only prop firm offering MT5 to US traders as of August 2025. The FTMO platforms guide covers setup, execution quality, and which platform suits which trading style. For MT5-specific detail, FTMO MT5 goes deep on the US relaunch and platform differences.
E8 Markets operates different platform stacks per track. The Forex and Crypto tracks use cTrader, MatchTrader, MT5, and Trade Locker. The Futures track uses a separate stack more common in the US futures prop space. Paul's 18-month Futures experience did not include a specified platform — the E8 Markets platforms guide covers the full stack per asset class.
If platform continuity matters to you and you want to trade on MT4 or MT5 across both your Forex and prop trading environments, FTMO's MT5 and MT4 support is a direct match. cTrader traders also have a clean path at FTMO.
Trust and track record
FTMO was founded in 2014 and is the firm that created the challenge-based prop model. Its 2024 financials ($329M revenue, $62M net profit, $721M total assets) place it in a different financial weight class than any other prop firm. Over $500M in cumulative trader payouts, 3.5M+ customers across 140+ countries.
The OANDA acquisition is the single biggest trust signal in prop trading history. FTMO did not get acquired. It acquired one of the most established regulated forex brokers on the planet. FTMO founders becoming OANDA co-CEOs in March 2026 means the firm now operates with one foot in the regulated broker world. This matters if you are concerned about the long-term viability of prop trading in a tightening regulatory environment.
FTMO's OANDA acquisition is covered in the FTMO OANDA acquisition deep-dive if you want the full timeline and implications.
E8 Markets is a younger firm. Its trust indicators are different: a strong Trustpilot presence, transparent multi-asset structure, and an 18-month positive experience from Paul on the Futures side. For newer traders or those starting with smaller account sizes, E8's accessibility and the 10% VIBES discount make it a credible starting point. For traders who prioritize firm longevity and financial scale as selection criteria, FTMO has no peer in this comparison.
The E8 Markets customer support review covers community sentiment and support experience for traders considering E8 as their primary firm.
Geographic access and restrictions
FTMO suspended US trader access in early 2024 following MetaQuotes restricting broker access to retail-focused prop firms after the MyForexFunds collapse. FTMO relaunched US services in August 2025 via its OANDA partnership, using MT5 as the platform. This was the first MT5 prop trading relaunch for US traders.
FTMO also opened the Indian market in December 2025. India represents approximately 40% of major prop firms' web traffic, making this a significant expansion. The FTMO India launch article covers what changed and what Indian traders should know.
E8 Markets has its own restricted countries list. The E8 restricted countries article in the cluster covers the specific exclusions per track.
For US traders specifically: FTMO is back and fully accessible via MT5. E8 Markets Futures is a natural fit for US futures traders who want a multi-asset prop brand. Both firms now serve the US market as of May 2026.
Who each firm suits
Trade FTMO if:
- You trade Forex, indices, commodities, metals, or CFD crypto
- You want the most established brand with the deepest payout history
- You prefer MT4, MT5, or cTrader
- You want a 90% split from day one with no scaling requirement (1-Step path)
- Long-term firm viability and institutional backing matter to your decision
- You are a European trader who values a Czech-based firm with EU cultural familiarity
Trade E8 Markets if:
- You trade futures and want prop funding in that asset class
- You want Forex, Futures, and Crypto prop funding within one brand ecosystem
- You are a US-based futures trader looking for an established multi-asset firm
- You want a 10% eval fee discount (VIBES code is active)
- You are newer to prop trading and want a mid-tier starting price with a solid Trustpilot reputation
Trade both if:
- You are an active prop trader who runs multiple firm accounts simultaneously
- You want to hedge between FTMO's Forex depth and E8's Futures track
- Paul does not currently run active accounts at both simultaneously, but his 4-year FTMO + 18-month E8 Futures track record shows how traders can build legitimate experience at both
How the OANDA acquisition changes the comparison
This deserves its own section because it shifts the competitive frame. Before February 2025, FTMO and E8 Markets were both prop trading firms competing on evaluation structure, pricing, and payouts. After the OANDA acquisition completed in December 2025, FTMO is something new: a prop firm that owns a regulated forex broker with decade-long customer relationships and regulatory approvals across multiple jurisdictions.
OANDA is actively transitioning its own prop trading clients over to FTMO as of March 2026. That is an inbound flow of regulated-broker-quality traders arriving at FTMO's platform. It also signals that FTMO is not treating prop trading as a standalone business. It is building a vertically integrated financial services group.
For traders who think about regulatory risk (the scenario where prop firms get classified as financial instruments under new regulations), FTMO's regulated broker acquisition is a meaningful hedge. E8 Markets operates as a standalone prop firm without that regulatory umbrella.
The broader FTMO cluster covers this angle in depth via the FTMO rules overview and the main FTMO review.
The bottom line
FTMO and E8 Markets are not head-to-head competitors across all asset classes. They are head-to-head only in Forex and CFDs. Paul has real experience at both: 4 years and $15K+ withdrawn from FTMO on the 1-Step Challenge, and 18 months and $4K withdrawn from E8 on the Futures track.
If you are a Forex or CFD trader and you are choosing between these two firms, FTMO wins on brand age, financial scale, payout history, platform breadth, and the institutional trust signal of the OANDA acquisition. The 90% split from day one on the 1-Step Challenge is also genuinely competitive.
If you are a futures trader or a crypto-native trader who wants dedicated prop funding in those asset classes, E8 Markets is the firm FTMO is not. Use code VIBES for 10% off at e8markets.com/d/VIBES.
If you trade across multiple asset classes and want to run both, there is no contradiction in having active accounts at FTMO for your Forex trading and E8 for your Futures work. Paul's trajectory shows that is a viable long-term path.
Frequently Asked Questions
Does FTMO offer futures trading?
No. FTMO is a Forex and CFD prop firm. It does not offer futures. Traders who want prop-funded futures accounts need to look at firms like E8 Markets, Apex Trader Funding, or TradeDay.
Does E8 Markets offer Forex trading?
Yes. E8 Markets has a dedicated Forex track alongside its Futures and Crypto tracks. The three tracks operate with different rules, platforms, and drawdown structures.
What is Paul's experience with FTMO?
Paul has traded FTMO for approximately 4 years across multiple accounts, withdrawn $15K+ in real payouts, and scalps the 1-Step Challenge on Standard $50K and $100K sizes. FTMO was one of his first prop firms as a European trader.
What is Paul's experience with E8 Markets?
Paul traded E8 Futures for 18 months across 3 funded accounts in sequence, pulling around $4K in cumulative payouts. His experience across that stretch was consistently positive. He is not currently running an active E8 account.
Which firm has better profit splits?
FTMO's 1-Step Challenge pays 90% from day one with no scaling required. E8 Markets Forex base split is 80%, with scaling plans potentially reaching higher. For the 1-Step path, FTMO has the edge on split percentage at entry.
Which firm is better for US traders?
FTMO relaunched US access in August 2025 via its OANDA partnership on MT5, and it is the first prop firm to bring MT5 prop trading back to US traders. E8 Markets also accepts US traders. Both firms serve the US market as of May 2026.
How much do FTMO and E8 challenges cost?
FTMO 2-Step Standard pricing runs approximately €155 for the $10K to €1,080 for the $200K account. E8 Markets pricing varies by asset class and account size. E8 offers a 10% discount with code VIBES. FTMO has no current public promo code.
Can I trade crypto with FTMO?
FTMO offers CFD-based cryptocurrency trading as part of its broader asset menu, though it is not a dedicated crypto prop firm. E8 Markets has a full standalone Crypto track with its own rules, drawdown, and platform stack.
What platforms does FTMO support?
FTMO supports MetaTrader 4, MetaTrader 5, and cTrader. MT5 is the primary platform and is available to US traders via the OANDA partnership as of August 2025.
What is the OANDA acquisition and why does it matter?
FTMO acquired OANDA, one of the world's oldest regulated forex brokers, in a deal announced February 2025 and completed December 2025. FTMO founders became OANDA co-CEOs in March 2026. This makes FTMO the first major prop firm to own a regulated broker, a significant trust signal for traders considering long-term relationships with the firm.
Is there a discount code for E8 Markets?
Yes. The code VIBES gives 10% off any E8 Markets evaluation fee. The direct link is e8markets.com/d/VIBES.
Which firm scales faster?
FTMO's Scaling Plan increases account size by 25% every 4 months after 10% net profit and at least 2 payouts, also unlocking the 90% split on the 2-Step path. E8 Markets has scaling mechanics across its tracks. FTMO's scaling path is well-documented and has been operating since the firm's early years.