FTUK Review: Alarmingly Dishonest While Fake Reviews Flood Trustpilot

Financial swindlers are always finding new ways to squirm into your pocket. While the prop firm industry is largely unregulated, rest assured that there are still ways to detect fraudulent businesses and avoid further headaches.

Today in our FTUK review, we will discuss how you can avoid throwing your money into the pit of bogus prop firms, and offer a genuine and reliable service you should look into instead.

Dubious Legal Background

As the owning company of the website, FTUK Inc. supposedly operates out of the US. However, the alleged registration of the business cannot be confirmed, unfortunately. 

You see, the address from the website suggests that the conduct was legally incorporated in Atlanta, Georgia. However, the Georgia Corporations Division which has a collective business register doesn’t show any results for FTUK Inc.

The problem with proprietary firms around the world is the fact that there’s insufficient oversight over their activities, especially in comparison to brokerage companies, for example. 

While online trading portals need to be licensed under particular directives, proprietary firms don’t. The situation is the same in the US as it is in the majority of the countries, save for several ones, like the UK and Australia. 

The lack of transparency, however, is an obvious sign that the FTUK prop firm has something to hide, and that’s most likely their fraudulent intentions. Since somewhat similar behavior is displayed by Alpha Spread, we advise caution in that case, as well.

Unrealistically Good Ratings

Anyone that ever owned a company will tell you just how difficult it is to please all of the customers. The difficulties are further exacerbated when money is on the line.

That doesn’t seem to be the case with FTUK reviews, though. Seeing the nearly impeccable FTUK TrustPilot rating of 4.2 will certainly impress you… Until you start reading some of the user comments, and at that point things will start making sense.

You see, the majority of the posted content is written by so-called review seller networks. They are paid creators that type positive comments to artificially boost the reputation of a scam company.

How The Trap Functions

The ftuk.com website itself is incredibly shabby, created by an amateur developer, but the various disclaimers are pretty much bulletproof. Whoever is behind the scheme has employed a seasoned professional to create all their legal documentation and alleviate the con artists from any liability.

Armed with this quasi-legal background, the company created social accounts on various platforms like Instagram and X, where they heavily downplay the trading risks. Just like the conners from Able Trading, they make it seem like the programs they offer are a surefire ticket to easy riches!

Lack of any trustworthy broker affiliation will have you lose funds on every trade, and reach a drawdown limit in no-time. After your brief stint of make-belief prop trading, you’ll be left hanging with a hole in your pocket matching the size of the program you purchased.

Evaluation Process

For the test phase traders can opt for one of the accounts funded with a certain amount. The profit target for each of these is the same – 10% which should be achieved through trading under the maximum leverage of 1:100.

The maximum drawdown is increased from 6% to 8% currently. FTUK profit split is set to 80%-20% in traders’ favor. Here’s what each of the evaluation packages cost with the trial amount available:

• $14,000 – $149 one-time deposit
• $40,000 – $349
• $60,000 – $449
• $90,000- $599

Funded Phase

Traders that have managed to prove their Forex skills and pass the challenge now have the chance to pick an amount to get funded though one of the FTUK instant funding options. 

While the funded accounts have the same trading conditions as the ones for the evaluation, these also require the following payments:

• $14,000 (scales up to $896,000)- $200 one-time deposit
• $40,000 (scales up to $2,560,000) – $550
• $60,000 (scales up to $3,840,000) – $750
• $90,000 (scales up to $5,760,000)- $1,200

What Can You Trade Exactly?

There’s not even a tiniest bit of information on how the FTUK funded account can access the market. The company mentions no affiliated broker, nor do they imply any trading app to be available.

The instruments are only given a brief, passing mention. Allegedly, you can trade forex and CFDs, but nobody ever elaborates on which individual assets might be available. Additionally, the disclaimer says they don’t provide any trading facilities.

Payouts Policy

Payout processing is said to take 2 days, and additional 1 day for the payout to be completed. Traders may request a payout at any time their profit share passes the £150 / €200 / $250 mark, but this is not exactly universal. You see, the company is not exactly sure when the payouts can happen.

In one portion of the site, they say that the first payout can happen as soon as traders reach a Level 1 milestone. Other page, however, states that the traders must be at least 10 days into their Level 2 program before requesting a payout, so which is it exactly?

One thing that instantly flashed a red light bulb was the moment we saw that any payouts from the platform are done in cryptocurrencies, more specifically USDT via ERC 20 blockchain.

Now, this instantly means that the payouts are done through a channel separate from the payment channel. This, combined with the different base currency used for payments and payouts, is a violation of international AML and CTF regulation.

24/7 Support is Unavailable

These con artists sure like to make their victims feel comfortable and supported by claiming to provide guidance and access to customer service around the clock. However, that is not true in the least. 

While trying to establish contact via the live chat, we were actually notified that all the chat agents are currently offline and won’t respond for several more hours. That leaves open the question about how truly disposable is this allegedly 24/7 support.

Need A Reliable Prop Trading Firm? See Our Offer!

Trading is a risky business, and unfortunately not everybody’s got what it takes to succeed. That’s why we’re looking to even out the playing field by offering perspective traders the edge they need to excel in the markets.

Our offer includes as much as $180,000 in forex funded trading, which is guaranteed to boost your portfolio. Book a free Zoom meeting with our representatives, and start working through our evaluation process.

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