FT5 Review: Not The Prop Trading Experience You Were Looking For
A deceitful proprietary trading firm, leveraging review-selling networks on Trustpilot, has been unmasked for its unethical practices.
Posing as a legitimate player, this fraudulent entity lured investors with false promises, manipulating its reputation through deceptive online tactics.
Now exposed in our FT5 review, the dark underbelly of this sham prop firm stands revealed, highlighting the importance of vigilance in the financial landscape.
|FT5/ GLOBAL ACADEMY TRADER LTD/ Prop Trade Tech LLC
|Type of the company
|Unregulated/ Not expected
|Warnings from Financial Regulators
|Email: [email protected]
|Majority of clients are from
|Canada, United States, Sweden, Finland, Japan
|Email: [email protected]
Who Runs FT5 Prop Firm
Not much transparency could be detected when it comes to the company owners that operate the website itself. The scarce legal documents mention two companies – GLOBAL ACADEMY TRADER LTD and Prop Trade Tech LLC.
Now, no apparent connection could be found between the ft5.com domain and any of the two firms, but it’s more likely that the domain in question is run by the offshore conduct established in the regulatory gray zone – Saint Vincent and the Grenadines.
That isn’t that much of a problem, since proprietary companies are not required to obtain a license to operate, but some legislation has to be respected. The fact that the masterminds behind the scheme have picked a loosely supervised area to start their business speaks volumes of how willing they are to follow any legal directives.
We’d like to remind you that even somewhat regulated firms like ACForex can often display dubious behavior and that thorough due diligence is required before engaging with any online trading portal.
Reputation Built on Fake Reviews
This is not the first time we see a shady organization getting their reviews and ratings on TrustPilot get taken down by the platform administrators. Although the firm still has a majority of positive ratings, the admins of the site have blocked posting new ones, or viewing the overall trust score.
This usually happens when the review seller networks get caught posting misleading comments about a bogus company. If the firm was really as reputable as they claim to be, we’d see a number of FT5 reviews on other platforms like SiteJabber as well, but sadly there are none.
Illegal Marketing Strategy
You can’t miss the ads for all the incredible deals this company is claiming to offer. Just now, for the New Year holidays, an FT5 discount ranging from 30% to 35% is advertised for every type of service!
After examining the site history, however, it becomes apparent that these “discounts” are available year-round. This marketing tactic is intended to deceive buyers into thinking they are somehow getting a better deal, and is illegal in many developed nations.
Additionally, the firm promotes drawdown of up to 10% or €500,000 as being on the table as well. These huge numbers imply that the FT5 funded account can receive up to €5,000,000 in assets, a claim that is not corroborated in the client dashboard.
If you’re looking for a tried and tested forex proprietary trading partnership, take a look at what we have to offer instead.
Challenge VS Accelerated Packages
The key difference between the FT5 challenge and Accelerated account types is that in the first case traders need to pass the initial phase and get funded.
After opening an account, investors need to follow the trading rules and achieve the 10% profit target, with unlimited time on their hands. Describing the costs of these as insane is an understatement.
Challenge Phase Accounts
This package is recommended to beginners and those that need professional guidance during their test phase. However, there’s no confirmation if these sorts of support are indeed available and offered to traders or that the original investment will be reimbursed. The split of 90% is also somewhat unrealistic.
These are the Challenge Bundles:
- C-Starter – 99€ for the account size of €10.000
- C-Standard – 199€ for the account size of €25,000
- C-Advanced- 450€ for the account size of €50,000
- C-Expert – 900€ for the account size of €100,000
- C-Master – 1900€ for the account size of €250,000
On the other hand, professional traders are advised to immediately go with an Accelerated or FT5 funded account. These prices are also ridiculously high, but are on an alleged, currently ongoing discount:
- STARTER – €10,000 (€249 on discount) for €125,000 funding credits
- STANDARD – €20,000 (€690 on discount) for €200,000 funding credits
- ADVANCED – €40,000 (€830 on discount) for €300,000 funding credits
- EXPERT – €80,000 (€2,450 on discount) for €1 million funding credits
- MASTER – €200,000 (€5,990 on discount) for €1.5 million funding credits
- MAESTRO – €300,000 (€11,000 on discount) for €5 million funding credits
Where’s The Platform?
In a grand total of 2 mentions on the entire website, the question of a trading platform is barely discussed at all. It seems to be some kind of a Web Trader, but it’s impossible to see any demo of this software, or access it in any way even after creating an account with the company.
This is not the only red flag in this regard, however, as the firm never discusses which brokerages they are affiliated with, which raises further suspicions. Any decent prop trading firm like BluSky Pro will openly tell you which brokers support using your funded account, and which ones do not.
No Help Desk
There is basically no customer support service with this company. You’ll find a link reading “help” in the client dashboard, only to be redirected back to the package purchase page instead. The only method by which you may contact the company for any inquiries remains the email option. We tried using this, but instead of receiving any replies, our messages bounced back.
Take a Look at Our Service
The rotten nature of the FT5 scam becomes most apparent when you compare them to a legitimate company. If you’re looking for a good place to start your funded trading journey, we’re happy to announce our funded accounts with $180,000 in allotted funds.
We strive to provide our partners with the best prop trading service available on the market. With advanced trading tools and a free broker legitimacy check, you can keep your mind free of doubt when investing. For more information, book a free Zoom call with our representatives using a tool on our website.
What is FT5?
It’s a full blown scam that takes the form of a proprietary trading firm.
Is FT5 Legit?
No, it is a fraudulent operation carefully disguised to better entrap potential retailers who wish to trade through a prop firm.
Can I Make Money With Prop Firms?
Absolutely! If you’re looking for a way to bolster your trading portfolio, have a look at the benefit we offer to our associates!