FTMO, a leading proprietary trading firm, experienced a significant increase in turnover, reaching nearly CZK 5 billion (over $213 million) in 2023, an impressive 20 percent rise from the previous year’s CZK 4 billion (approximately $170 million). The firm’s EBITDA also approached the $100 million mark.
Robust Performance in 2023
FTMO saw its active trading accounts surpass 2.3 million in 2024, marking a 33 percent year-over-year growth. Co-founder and CEO Otakar Šuffner emphasized the importance of their transition from a single-focus company to a diversified group synergizing various sectors. This shift included the acquisitions of Quantlane, a traditional proprietary trading company, and eVisions, a marketing agency.
Strategic Expansion and Future Plans
FTMO is set to expand further by launching a brokerage, with industry expert Michael Kamerman at the helm as CEO. “Expanding our platform services and user base has been a great success for us,” Šuffner said. “Achieving record turnover and profit is crucial for maintaining healthy finances and leveraging growth opportunities for the Group’s continued expansion.”
In addition to these developments, FTMO strengthened its leadership team with the appointments of Radek Dyntar as CFO and Eva Svobodová as Chief Legal Officer earlier this year. Despite these diversifications, the company maintains that its core proprietary trading products remain a priority. FTMO also noted a substantial increase in payouts to its traders, disbursing 80 percent more in the first seven months of 2024 compared to the same period last year.
Industry Trends and Challenges
While FTMO continues to thrive, other prop trading firms face challenges, with some shutting down operations. Notably, The Funded Engineer, True Forex Funds, Stocknet Institute, SurgeTrader, and Skilled Funded Trader have ceased operations due to various difficulties.
Meanwhile, the prop trading industry is attracting interest from retail CFDs brokers, including OANDA, Axi, Hantec Markets, Blueberry Markets, IC Markets, ThinkMarkets, Traders Trust, and Trade.com, who are either offering or planning to offer prop trading services. This growing sector has also garnered regulatory attention, with the European Securities and Markets Authority and CySEC’s Chair, Dr. George Theocharides, indicating increased scrutiny on prop trading firms in the near future.
