FTMO is a Czech-headquartered Forex/CFD prop firm founded 2014. The 2025 OANDA acquisition makes it the parent of a regulated forex broker β the strongest trust signal in the prop category. Bi-weekly payouts at ~8h average processing. Paul has withdrawn $15K+ over ~4 years on the 1-Step Challenge. Full assessment in the complete FTMO review. Sign up at FTMO.
US traders can access FTMO as of August 2025. After roughly 18 months of being locked out following an early-2024 suspension, FTMO reopened to US-based traders through OANDA's CFTC-regulated infrastructure on MetaTrader 5. This is a material change: not a workaround, not a grey-area loophole, but a regulated pathway built on FTMO's December 2025 acquisition of OANDA, one of the oldest regulated forex brokers in the world. If you are a US trader who has been watching FTMO from the sidelines, this article explains exactly what changed, how it works in 2026, and where the differences from EU access actually lie.
Can US traders use FTMO in 2026?
Yes. As of August 2025, FTMO is accessible to US-based traders. The mechanism is OANDA's US legal entity, which has been CFTC-regulated since OANDA's founding. When FTMO acquired OANDA in February 2025 (the acquisition completed December 2025), FTMO gained access to a regulated US broker structure that can legally serve US persons in prop-style funded trading.
Before August 2025, this was not the case. FTMO had suspended US access in early 2024, citing MetaQuotes platform restrictions alongside the difficult CFTC regulatory environment that followed the US shutdown of MyForexFunds in September 2023. That suspension lasted approximately 18 months. The August 2025 relaunch ended it.
The headline: US traders now have a legitimate, regulated path to trade FTMO Challenges and access funded accounts. The exact mechanisms matter, and they are covered in detail below.
How did the OANDA-MT5 US relaunch work?
The architecture of the US relaunch flows directly from the OANDA acquisition.
FTMO announced the acquisition of OANDA from CVC Capital Partners on February 3, 2025. The transaction completed with all five required regulatory approvals by December 2, 2025. FTMO founders Otakar Ε uffner and Marek VaΕ‘ΓΔek became co-CEOs of OANDA in March 2026. OANDA's client base began migrating to FTMO's ecosystem from that point.
For US traders, the relevant piece is OANDA's US broker entity. OANDA has held CFTC registration and NFA membership for years, giving it the legal standing to offer retail forex services to US persons. When FTMO integrated its challenge infrastructure with OANDA's US entity, it created a compliant pathway: US traders participate in the FTMO Challenge under the OANDA legal umbrella, with MT5 as the delivery platform.
The prop trading industry had been in a difficult spot with US access since the MetaQuotes MT5 licensing dispute of 2023 effectively cut off most offshore prop firms from serving US clients on MT4/MT5. The Finance Magnates headline from August 2025 put it plainly: "Prop trading on MetaTrader 5 is back in the US." FTMO, operating through OANDA, was the first firm to achieve this.
This is not a soft relaunch with fine-print exclusions. The evaluation (challenge), verification, and funded-account stages all run through this structure. US traders buy a challenge, trade on MT5, and receive payouts within a CFTC-compliant framework.
For deeper background on the OANDA deal and what it means for FTMO's long-term positioning, see the M1 FTMO review and the FTMO trust and legitimacy pillar.
What's different for US traders vs EU traders?
The FTMO Challenge rules are identical across regions. The profit targets, drawdown limits, minimum trading days, and consistency rules do not change based on your location. A US trader running the 1-Step Challenge faces the same 10% profit target, 3% daily loss limit, and 10% trailing max loss as a trader in Germany or Brazil.
Where the experience diverges:
Broker entity. EU and most international traders operate through FTMO s.r.o. (Czech Republic). US traders operate through OANDA's CFTC-regulated US entity. The brand is FTMO; the legal counter-party differs.
Platform access. EU traders can choose MT4, MT5, or cTrader. US traders are restricted to MT5 only. MT4 and cTrader are not available through OANDA's US-regulated infrastructure. If you rely on MT4's specific indicators or EA architecture, you will need to adapt.
Leverage caps. CFTC rules impose leverage limits on Forex pairs for US persons: 50:1 on major pairs, 20:1 on minor pairs. EU traders are subject to ESMA's 30:1 cap on majors, which is actually more restrictive than the US limit on those same pairs, but the inverse applies on minors. Some exotic pairs or CFD instruments available to non-US traders may be unavailable or carry lower leverage under CFTC rules.
Tax and compliance. US traders will be subject to standard IRS reporting applicable to funded trading payouts. W-9 collection by OANDA and 1099 issuance at year-end are the expected norm for funded-account profit distributions. This is standard for any US-regulated entity; it is not an FTMO-specific complication.
Instrument availability. Some instruments that EU-based FTMO traders can access may be restricted or unavailable under CFTC rules. US traders should review their symbol list in MT5 before purchasing a challenge to confirm their core instruments are available.
| Feature | FTMO via OANDA (US) | FTMO Standard (EU/International) |
|---|---|---|
| Legal entity | OANDA US (CFTC-regulated) | FTMO s.r.o. (Czech Republic) |
| Platform options | MT5 only | MT4, MT5, cTrader |
| Forex major leverage | Up to 50:1 | Up to 30:1 (ESMA) |
| Forex minor leverage | Up to 20:1 (CFTC cap) | Up to 30:1 (ESMA) |
| Challenge rules | Identical | Identical |
| Profit split | 80% base / 90% scaled (1-Step: 90% day 1) | Same |
| Payout frequency | Bi-weekly | Bi-weekly |
| Tax reporting | US 1099 / W-9 | Varies by jurisdiction |
| Instruments | CFTC-eligible symbols | Full FTMO symbol list |
| Futures trading | Not available | Not available |
What platform must US traders use?
MT5, and only MT5. This is a hard restriction, not a preference.
The reason is structural: OANDA's US-regulated infrastructure uses MT5 as its delivery layer for retail trading clients. MT4 is a legacy platform with licensing restrictions that do not apply cleanly to the CFTC-regulated context OANDA operates in. cTrader is entirely outside OANDA's technology stack.
For most US traders considering FTMO, this is not a barrier. MT5 is the more capable platform, with better charting, more timeframes, depth-of-market visibility, and native support for hedging and netting modes. If your strategy runs on MT5, you lose nothing. If your strategy depends on MT4-specific architecture, you will need to either port your EA or find an alternative setup.
For a full breakdown of MT5's capabilities in the FTMO context, see FTMO MT5 and the MT5 vs MT4 comparison.
How does CFTC regulation affect the experience?
Operating through a CFTC-regulated entity is, in most respects, a feature rather than a limitation.
Account segregation is the most direct benefit. Under CFTC rules, OANDA is required to hold client funds in segregated accounts, separate from the firm's operating capital. This is a structural protection that many offshore prop firms (which have historically operated without equivalent oversight) cannot offer.
The leverage caps are the most discussed trade-off. US traders can access up to 50:1 on major Forex pairs, which is more than enough leverage to run most prop trading strategies. For context, the FTMO 1-Step Challenge involves simulated trading on a funded account, so the leverage question is somewhat different from retail margin trading; the drawdown rules (3% daily, 10% max trailing) are the binding constraints, not the leverage ceiling for most traders.
Some currency pairs and CFD instruments that EU clients can trade are unavailable under CFTC jurisdiction. Before purchasing a challenge, US traders should open a free FTMO demo or contact support to confirm their primary instruments are available in the US MT5 environment.
For further context on FTMO's rules structure, the FTMO rules overview, daily loss limit, and max loss rule articles cover the mechanics in detail.
What about US tax forms?
Funded trading payouts from a CFTC-regulated US entity follow standard US tax reporting rules.
For most US-based funded traders receiving payouts from OANDA (the legal counter-party for US FTMO traders), the expected process is:
W-9 collection. OANDA will collect a W-9 from US persons to confirm taxpayer identification before processing payouts. This is standard practice for any US-regulated financial entity making reportable payments.
1099 issuance. At year-end, significant payout amounts will likely trigger a 1099 (either 1099-MISC or 1099-NEC, depending on classification) from OANDA for IRS reporting purposes.
Tax treatment. The tax treatment of prop trading payouts is not universally settled and depends on your specific arrangement. Some traders classify these as self-employment income; others as ordinary income. The distinction matters for self-employment tax purposes. Consult a tax professional who understands funded trading structures before filing.
State taxes. Some US states impose additional income tax on trading profits. Your state of residence determines what additional filings may be required.
The key point: operating through a regulated entity means more paperwork, but also more predictability. You know exactly what forms to expect, and there is a regulated party on the other side with legal obligations around accurate reporting.
What US-restricted instruments should traders know about?
CFTC jurisdiction creates specific instrument restrictions for US persons:
Forex. Major and minor pairs are generally available under CFTC rules, with leverage caps as described above. Some exotic pairs may not be available through OANDA's US entity.
Indices. US-accessible index CFDs typically include the major global indices (S&P 500, NASDAQ, DAX, etc.), but the specific instruments available in the US MT5 account may differ from the full FTMO EU symbol list.
Metals. Gold (XAUUSD) and silver (XAGUSD) are widely available under CFTC rules and are typically accessible to US FTMO traders.
Crypto CFDs. Crypto CFD availability for US persons is a more complex regulatory area. The specific crypto instruments available through OANDA's US entity may be limited compared to FTMO's standard offering. Verify directly before purchasing a challenge if crypto CFDs are central to your strategy.
No futures. This is a universal FTMO limitation, not a US-specific one. FTMO does not offer futures. The platform is Forex and CFD-only across all regions. If futures are your primary market, you need a different firm. See the comparison section below.
For the detailed restricted instruments list in the FTMO context, see FTMO restricted instruments.
Compared to US-only firms like Apex and Topstep
US traders have several legitimate prop firm options in 2026. The comparison with US-native firms comes down to one core question: do you trade futures or Forex/CFDs?
Apex Trader Funding and Topstep are futures-only firms, operating on CME-listed instruments via platforms like NinjaTrader and Tradovate. They are natively structured for the US regulatory environment because futures fall under CFTC jurisdiction without the additional complexity that Forex CFDs create for US persons. Both are solid firms for futures traders. Apex offers broad CME coverage across ES, NQ, CL, GC, and many other contracts. Topstep focuses on the same with a slightly different rule set.
FTMO via OANDA is a Forex and CFD firm. It does not offer futures. For traders whose primary markets are:
- Major/minor/exotic Forex pairs
- Index CFDs (DAX, S&P 500, NASDAQ, etc.)
- Gold, silver, commodities
- Crypto CFDs (where available in the US)
...FTMO via OANDA fills a gap that Apex and Topstep simply cannot fill. There was no major CFTC-compliant, regulated-entity Forex prop firm of FTMO's scale available to US traders before August 2025. That gap now has a credible answer.
For traders who trade both futures and Forex, the answer may be to run both: Apex or Topstep for futures exposure, FTMO via OANDA for Forex/CFD exposure. These are not competing choices for traders with multi-market strategies.
| Factor | FTMO via OANDA (US) | Apex Trader Funding | Topstep |
|---|---|---|---|
| Asset classes | Forex, indices, metals, crypto CFDs | Futures (CME) only | Futures (CME) only |
| Platform | MT5 only (US) | NinjaTrader, Tradovate, Rithmic | NinjaTrader, Tradovate |
| Regulatory structure | CFTC-registered (OANDA) | US-compliant futures firm | US-compliant futures firm |
| Profit split | 80β90% | Up to 90% | Up to 90% |
| Payouts | Bi-weekly | Variable | Weekly |
| Challenge size range | $10Kβ$200K | $25Kβ$300K | $50Kβ$150K |
| 1-step option | Yes (1-Step Challenge) | Yes (Apex 1-step) | No (2-step only) |
| News trading | Restricted on Standard accounts | No restriction | No restriction |
| Minimum trading days | 4 | 10 (most plans) | 5 |
For a broader competitive picture, also see FTMO vs The5ers and the FTMO main review.
For US traders specifically interested in futures alongside Forex, the Apex Trader Funding review and Topstep review are worth reading as complements to this article.
Is FTMO legitimate for US traders in 2026?
The legitimacy question has a strong answer in 2026, specifically because of the OANDA structure.
FTMO is the market leader in global prop trading: $500M+ in cumulative trader payouts, 3.5M+ customers across 140+ countries, $329M in 2024 revenue, and $62M+ net profit. These are not startup numbers; they indicate a firm with a proven payout mechanism operating at scale.
For US traders specifically, the OANDA partnership adds a layer of legitimacy that most offshore prop firms cannot claim. OANDA has operated under CFTC oversight for over two decades. Its regulatory standing is not new, temporary, or provisional. When US traders access FTMO through OANDA, they are accessing a firm with a multi-decade regulated track record on the US side of the equation.
The FTMO founders becoming OANDA co-CEOs in March 2026 confirms this is not a temporary licensing arrangement but a structural integration of two entities that are now governed by the same leadership team.
For more context on FTMO's trust signals and financial track record, see FTMO trust and legitimacy and the full FTMO review.
The bottom line
US traders have had a legitimate, regulated path to FTMO since August 2025, and it is the most credible such path that has existed in the prop trading industry for US persons. The OANDA acquisition gave FTMO the legal infrastructure to serve US clients without the regulatory ambiguity that forced most offshore prop firms to exclude the US market. MT5 is the exclusive platform, CFTC-compliant account handling applies, and standard US tax reporting (W-9/1099) is in place.
The trade-offs are real: MT4 and cTrader are unavailable to US traders, some instruments face CFTC leverage caps or restrictions, and the tax paperwork is more involved than for traders in unregulated jurisdictions. But these are the costs of operating within a regulated framework, and most traders would prefer a regulated partner to an unregulated one, especially after the industry events of 2023 and 2024.
If you are a US-based Forex or CFD trader, FTMO via OANDA in 2026 is the highest-legitimacy option available to you in the prop space. If you are a futures trader, you will still need Apex or Topstep for your core market. If you trade both, there is no reason you cannot run accounts at multiple firms.
As of May 2026, FTMO is open for business in the United States.
Frequently Asked Questions
Can US traders use FTMO in 2026?
Yes. FTMO relaunched US access in August 2025 through OANDA's CFTC-regulated infrastructure, using MT5 as the exclusive platform for US-based traders. Both the 1-Step and 2-Step FTMO Challenges are available to US residents.
How did the OANDA-MT5 US relaunch work?
FTMO acquired OANDA in February 2025 (completed December 2025). OANDA is a CFTC-regulated US broker with decades of regulatory standing. This gave FTMO a compliant legal entity to serve US traders, with MT5 as the delivery platform. Before this acquisition, FTMO had no viable path to serve US clients after the early-2024 suspension.
Why was FTMO unavailable to US traders before August 2025?
In early 2024, FTMO suspended US services due to a combination of MetaQuotes platform licensing restrictions affecting prop firm use and the post-MyForexFunds CFTC regulatory climate, which made operating as an offshore entity for US clients legally uncertain. The suspension lasted approximately 18 months until the OANDA-backed relaunch in August 2025.
What platform must US traders use at FTMO?
MT5 only. US traders cannot access MT4 or cTrader through FTMO. This restriction comes from how OANDA's US-regulated infrastructure was built: MT5 is the platform OANDA supports for this use case. For most traders, MT5 is the superior platform anyway, but if your strategy is built around MT4-specific tools, you will need to adapt.
Is FTMO CFTC-regulated for US traders?
US traders access FTMO through OANDA's US legal entity, which is CFTC-regulated. This means client account segregation requirements apply, the firm operates under NFA oversight, and standard US regulatory protections are in place. FTMO s.r.o. (Czech Republic) is the entity that operates for non-US traders.
What US tax forms do FTMO traders receive?
Funded traders receiving payouts through OANDA's US entity should expect W-9 collection at onboarding and 1099 issuance at year-end for reportable distributions. The precise tax classification of funded trading payouts (self-employment vs ordinary income) is not universally settled; consult a tax professional familiar with funded trading structures for your specific situation.
Are any instruments restricted for US traders at FTMO?
Yes. CFTC regulations impose leverage caps (50:1 majors, 20:1 minors on Forex) and may restrict access to some exotic pairs, certain CFD instruments, and some crypto CFDs for US persons. US traders should verify their target instruments are available in the US MT5 account before purchasing a challenge. Metals (gold, silver) and major index CFDs are generally accessible.
What's different about FTMO for US traders vs EU traders?
The core FTMO challenge rules are identical globally. The differences for US traders are: MT5-only platform access (vs MT4/MT5/cTrader for EU), OANDA US as the legal entity (vs FTMO s.r.o. for EU), CFTC leverage caps on Forex pairs, and US tax reporting (W-9/1099). Challenge profit targets, drawdown limits, and payout structures are the same.
How does FTMO compare to US-only prop firms like Apex or Topstep?
Apex and Topstep are futures-only firms built for CME-listed instruments. FTMO via OANDA is Forex and CFD-focused with no futures offering. US traders who trade Forex, index CFDs, metals, or crypto CFDs will find FTMO's offering covers ground that Apex and Topstep do not. Futures traders should still use Apex or Topstep. Multi-market traders can run accounts at multiple firms simultaneously.
Does FTMO have a promo code for US traders in 2026?
There is no active public promo code as of May 2026. FTMO's Prime Programme provides a 10% discount after four qualifying payouts for long-term traders. Check ftmo.com for any current promotional offers before purchasing a challenge.
Is the 1-Step Challenge available to US traders?
Yes. Both the 1-Step Challenge (10% target, 3% daily loss, 10% trailing max loss, 90% profit split from day one) and the 2-Step Challenge are available to US traders via OANDA's MT5 infrastructure. Challenge rules are the same as for any other region.
What about leverage limits for US traders?
CFTC rules cap Forex leverage for US persons at 50:1 on major pairs and 20:1 on minor pairs. FTMO via OANDA applies these caps in compliance with US regulations. For context, EU traders under ESMA face a 30:1 cap on major pairs β so US traders get more leverage on majors but less on minors compared to EU counterparts. The drawdown rules of the FTMO challenge structure are the binding constraint for most traders, not the leverage ceiling.