FTMO Suspends Challenges In The United States – Banned Countries List

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This week, a leading prop firm, FTMO suspended the purchase of new challenges for the US market. While the prop firm still continues to accept clients from around the world, this change will impact many new prop traders in the US.

A statement released from the firm stated:  

“…as we put a hold on onboarding new US clients. At the same time, we are looking for ways to make FTMO available again to all those interested in trading in the USA.”

The statement goes on to explain that the prop firm is committed to providing top-quality services to their clients. That does not change at this time – the problem concerns specifics related to their prop firm operations in the US market.

This announcement comes following an update in May 2023 when the firm banned US traders and clients in 5 states, including:

  • Delaware
  • Louisiana
  • South Carolina
  • Montana
  • Arkansas

Forex prop firm traders in the USA should review local regulations for their accounts. This recent FTMO regulated change may signal an increasing push for regulation in the entire prop firm market. Further, if the United States government continues towards a regulatory push, other regulatory entities including the EU, UK, Canada, or Australia may follow suit.

FTMO Banned Countries

Here’s a full list of FTMO banned countries (as per January 2024):

  • United States of America (US)
  • The Russian Federation
  • India
  • North Korea
  • The Republic of Belarus
  • Cuba
  • The Republic of Indonesia
  • Venezuela
  • South Sudan
  • Sudan
  • Iran
  • Syria
  • Myanmar

Is FTMO Regulated?

Prop firm traders must enter into the FTMO Account Agreement and pass the KYC/KYB process. The FTMO Account agreement defines the trader’s duties and rights. The contract further details the FTMO regulatory compliance and relationship with the trader.

At Funding Traders, we stand by the other top prop firms in the industry. We believe that self-regulation and transparency are paramount to a safe, fair prop firm market.

Author of this article

Stan

Stan

Growing up in New York City, Stan started his Wall Street career at the age of 18 working for a reputed stock brokerage firm. After working comprehensively for a wealth management group in the States, Stan switched to investment management - followed up by a full-time trading career in traditional prop firms. Today, he shares his wisdom, strategies, and funding to aspiring traders looking to trade big like industry professionals. When he's not analyzing charts, making strategic decisions, and shooting videos, Stan loves writing down these informative value-driven posts to support aspiring traders across the globe.

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- The critical mindset shift for long-term trading success
- How Consistency Scores can improve your trading discipline
- The importance of journaling trades for better performance and clarity
- Why focusing on trade quality, not just quantity, is key to success

📝 Important Note on New Rules:
The strategies and rules, especially the new Consistency Rule and Consistency Score, discussed in this video will only apply to a new account type we are launching. If you already have an account, these changes will not affect you. However, if you want to take advantage of the new rules, you’ll have the option to migrate to the new account type. Stay tuned for details on how this works!

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