FTMO Academy Review (TradeSpider): Legit Or A Scam?

FTMO Academy Review

Hello, welcome to my FTMO Academy Review.

Can FTMO Academy help you learn forex trading and pass the evaluation challenge on the FTMO prop firm, or is it just a scam you should avoid?

If that’s what you are looking for, then I have it all and much more explained to you in this review, including the following:

  • How the program work.
  • The cost of getting lifetime access to the program.
  • Who Robert Billing is, and how the course is related to FTMO Prop Firm.

Note that this course is concise to learn and only takes about one hour to complete, leaving many people worried about its price.

So, if you are worried about whether the course is worth its price, continue reading this review for a detailed explanation.

What’s more, I’ll also explain if the program allows you to use their strategy in trading in another prop firm.

With that in mind, let’s begin…

UPDATE: The FTMO Academy recently did a domain name change and is now referred to as TradeSpider Academy

FTMO Academy Review Summary

Name of the Product: FTMO Academy Review

Type of the Product:  Forex Trading Training Course

Product Website: https://tradespideracademy.com/

Founder: Robert Billing

Overall Rating: 50/100

Product Cost: Starting from $399

Recommendation: Not for everyone

FTMO Academy Review – Overview

FTMO Academy Review

FTMO Academy course (now TradeSpider Academy) moves around teaching you how to become a successful forex trader.

The term forex in the market means foreign exchange, which is trading involving currencies from different countries of the world.

Forex trading is one of the online business activities many internet users engage in today to earn a living.

Due to the increasing number of forex traders, the forex market has become the world’s largest and most highly liquid market.

Recently, the trading volume of forex daily is estimated to exceed $6.7 trillion worldwide.

As the forex trade continues expanding, more people join the market to become successful traders.

However, you must know how to trade forex to succeed in their market.

Many online courses teach how to trade forex online to help them become expert and profitable traders.

FTMO Academy is one course that allows you to learn forex pairs and other tradable assets such as gold and indices.

They focus on teaching you how to trade in their FTMO Prop Firm platform as a strategy to enable you to pass their evaluation stage.

They aim to make everyone who joins the course pass the FTMO prop challenge and progress to their funded account as an FTMO prop trader.

You’ll be highly advantaged if you join the FTMO Academy and enroll in their FTMO Prop Firm to start trading.

However, it is you to make decisions, as the program allows you to use the strategies learned in the course to trade elsewhere.

Related Review: G7FX

What Is FTMO Academy?

FTMO Academy is a course that teaches you how to pass the FTMO prop challenge and become an FTMO trader.

The platforms claim that learning the course will prevent you from losing money on failing challenges in their prop firm.

Their strategy is simplified and easy to understand, with their course only taking one hour.

According to the program, taking the course will allow you to become a successful FTMO prop trader.

The program targets to make everyone who joins the course stand a chance to make more money in their prop firm.

The FTMO prop firm allows traders to trade with up to a $400,000 account balance, making it possible to grow their trading accounts.

For this reason, if you join FTMO Academy, you’ll stand a chance to become an expert trader and be more advantaged when trading with the FTMO Prop Firm.

The course claims that if you join the funded account, you’ll stand a chance to keep up to 90% of the profits you make.

The higher profit share is a strategy the program uses to attract more traders and help them grow their accounts faster.

FTMO prop firm was introduced in the forex market in 2020 and has since recorded positive progress in its services.

The prop firm has increased the number of traders from more than 180 countries worldwide, making it a stable platform in the forex market.

Due to its increasing number of traders, the FTMO Academy course tries to teach incoming traders how to trade on the platform.

The strategy is to make every person who joins the platform learn how to pass the evaluation stage and progress to their funded account.

What Is Contained In FTMO Academy (TradeSpider Academy)?

TradeSpider Academy contains helpful video tutorials for beginners who want to learn forex trading.

Apart from providing online video tutorials, the platform also teaches about trading tips and platform insights.

There are other links in the program that you can click to navigate through the certificates, economic calendar, billing, and customer support.

Apart from the educational resources, you can start trading by funding with money in their funded account.

This will, however, involve going through the verification stage of the platform before being awarded the funded account.

When you join the program, you’ll learn the following key forex trading strategies:

  • The unique profitable strategy for trading in the forex market.
  • How to take profits calculated with up to 75% to 85% accuracy.
  • Trading with any instrument, including forex pairs, indices, and gold.
  • How to handle position and risk management when trading in the forex market.
  • Trade spider EA which will help you manage all your trades.
  • The instrument scanner EA will determine what you should trade and save time.
  • Full customer support is available 24/7 when trading in their preferred platform, FTMO prop firm.

How Does FTMO Academy Work?

FTMO Academy focuses more on making you become a successful FTMO prop trader.

FTMO is a proprietary firm that allows you to trade in the forex market.

The prop firm offers a funded account where you can trade and get a profit share of up to 90% from their platform.

The proprietary firm allows you to trade assets such as Forex pairs, commodities, crypto, and indices in the market.

Before becoming a funded trader, you must pass the evaluation stage.

The evaluation process consists of the FTMO challenge, verification, and the FTMO trader.

To quickly pass their evaluation stage, the program expects you to enroll in their FTMO Academy course and learn their simplified strategy.

After learning the course, you’ll join their prop firm trading program as you journey towards becoming an FTMO prop trader.

Here are the steps for becoming an FTMO trader on the platform:

FTMO Challenge

This is the platform’s first evaluation stage, which takes you a maximum of thirty calendar days to complete.

However, you must take at least ten days to pass this stage, even with a higher trading speed.

This means that to achieve your required profit target in less than ten days, let’s say six days, you will have to put in more trades in the remaining four days.

The program will then automatically move you to stage two when you successfully meet their requirements in the FTMO challenge stage.

In addition, the program will only prompt you to pay one and then start your challenge with the price depending on your chosen account size.

Verification Stage

This is the second stage in the evaluation process of the FTMO prop firm, which will promote you to becoming a funded account trader.

In the evaluation stage, you’ve up to sixty days to trade, with the minimum number of trading days still maintained at ten days.

In addition, the verification stage does not require you to pay any extra fee but only expects you to achieve its profit target.

You’ll be awarded a live-funded account after completing the verification stage.

FTMO Trader

When you are awarded a funded account, you’ll become an FTMO trader, where you’ll be trading with real money.

This means the program will fund your account with real money and offer you a starting profit target of 80%.

As you continue trading and increasing your experience, you’ll start earning more profits, and the prop firm promises to increase the profit split to 90%.

This profit split simply means that you get 80% of the profits you make while the company takes the remaining 20%.

Also Read: FundedNext Review

Who Is the Owner of FTMO Academy?

FTMO Academy Review

FTMO Academy is owned by Robert Billing, a successful trader in the forex market.

Robert launched FTMO Academy in 2020 after succeeding as an expert forex trader.

Robert estimates his forex trade earnings to average about seven figures a year.

He shares his trading strategy with other traders to help them become successful in their FTMO Prop Firm.

His main goal was to share his skill with people passionate about trading forex.

Robert Billing is a full-time trader who claims to spend all his time trading forex as his lifetime career.

According to Robert, their strategy is simplified and easy to understand to become a profitable trader.

Robert also sets you free to use his simplified strategies to trade in other prop firms so long as you can meet your success.

What Is The Cost Of Joining FTMO Academy?

FTMO Academy Review

FTMO Academy has two membership programs available.

The first membership option, which allows you to learn the forex trading course, will cost you a one-time fee of $399.

After paying the one-time fee, the program offers lifetime access to their services on the platform and in their telegram channel.

Then, you’ll join the FTMO trading programs, paying the price corresponding to the two account sizes you choose.

After choosing your account size, you must pay for it before you begin trading to become a funded trader.

There are two types of account types with different account sizes available in the program: the normal risk level and the aggressive risk level.

Here are the different account sizes in every account type and their prices:

Normal Risk Level Account

In the typical risk-level account, there are up to five account sizes with different prices, namely:

  • $10000 account size that costs $139
  • $25000 account size that costs $225
  • $50000 account size that costs $310
  • $100000 account size that costs $486
  • $200000 account size that costs $972

The Aggressive Risk Level Account

There are up to four account levels in the aggressive risk level account:

  • $10000 account size that costs $225
  • $25000 account size that costs $310
  • $50000 account size that costs $486
  • $100000 account size that costs $972

After finishing your training course, you’ll only have to pay for the account and want to start trading on the FTMO platform.

You’ll not have to enroll in their trading account if you are not interested in trading with the FTMO prop firm.

Instead, you’ll only have to pay their training fee and review the available training.

In addition, FTMO prop firm supports up to three trading solutions that are popularly used in the forex market, which are:

Is FTMO Academy A Scam?

FTMO Academy Review

FTMO Academy is NOT a scam.

Robert Billing is a successful trader who shares his skills with upcoming traders through the program.

The FTMO academy program targets people who want to become profitable traders in the forex industry.

For this reason, you must have a passion and interest in learning the forex trade.

FTMO Academy focuses more on traders who want to trade forex via their FTMO prop firm.

For instance, in Robert Billing’s teachings, he focuses more on passing the FTMO challenge in the evaluation stage.

This is a strategy that Robert uses to ensure every trader who joins their platform succeeds in getting a funded account.

Joining the program will benefit more people who want to trade with FTMO prop firm.

The program, however, allows you to apply the skills and knowledge you learn from them in other prop firms.

FTMO Academy course only takes one hour to finish and, therefore, will not take much of your time to learn,

The shorter duration of the course, however, raises many questions about its price tag.

For instance, many complain that such a short course’s price should be lowered.

In addition, the program does not allow a refund of the entry fee claiming that the course takes a shorter time to learn.

Due to the short time, the program claims traders will all finish the course and request a return.

Alternative Prop Firm: Leveled Up Society

What I Like About FTMO Academy

  • There is good transparency in the course.

If you visit the website of FTMO Academy, their program clearly explains their services.

The transparency shown in the program makes it easy for traders to build trust in the services and teachings offered in the course.

  • Robert Billing is a successful trader.

Robert Billing, in his claims, earns up to seven figures in his trade, making him an excellent testimony to upcoming traders.

In addition, he teaches about strategies of trading which are critical in helping beginners become profitable online.

According to Robert, the strategies he teaches his students on forex trade cannot be easily found on other programs online, including YouTube.

  • Excellent Trust Pilot rating

FTMO Academy has an excellent rating on trust pilot, achieving a rating of up to 4.7 out of five stars.

On the platform, most traders are expressing their satisfaction with the teachings of Robert Billing, claiming to have helped them a lot.

In addition, the program presents some of the testimonies on their official website page, showing their satisfaction with the course.

What I Don’t Like About FTMO Academy

  • Not suitable for beginners.

The cost, of course, is too much for a beginner seeking knowledge of the forex trade.

In addition, the course is also too short to learn and may not help a beginner.

  • Does not offer a refund

The platform claims that refunding the traders who join the course is tricky as the course is simple and short.

The program claims that offering the course won’t benefit them if they decide to provide money-back service to traders.

However, a good course should offer a money-back service to traders who may want to claim it back for personal reasons.

  • Focus more on the FTMO Prop Firm.

FTMO Academy focuses on teaching you how to pass the FTMO challenge.

Therefore, if you want to apply the knowledge in trading on another platform, you may not be more advantaged.

FAQs About FTMO Academy  

Can I Use The FTMO Academy Strategies To Trade Outside The Prop Firm?

Yes, FTMO Academy allows you to use the knowledge and skills you learned

You’re free to use your own or personally funded account to trade after acquiring skills from FTMO Academy.

Does FTMO Academy Offer A Money-Back Guarantee?

FTMO Academy doesn’t offer its traders a money-back service.

The money-back service is not guaranteed as an option because some traders take advantage of the short course.

For instance, the course will only take you one hour to learn and complete, which will be impossible to grant when you claim a refund.

Is FTMO Academy Better Than Others In The Forex Market?

Regarding services, FTMO Academy claims to trade what they teach.

In addition, the prop firm has a live telegram channel where they share their trading trade and achievements.

The program, therefore, believes strongly in what they offer and trade online in the forex industry.

Do FTMO Academy Guarantee Funding On Their Trading Accounts?

No, the FTMO Academy does not guarantee traders a funded account when enrolling for their course.

However, the program promises traders that it’ll help them stand a chance to pass their evaluation stage.

For this reason, you’ll still have to pass the FTMO challenge to get the funded account and become an FTMO trader.

Thank you for reading my FTMO Academy Review.

Feel free to leave a comment in the section below.

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