FTMO’s Record Turnover Marks $213 Million Milestone in 2023

FTMO’s record turnover of $213 million in 2023 marks an important milestone, highlighting impressive growth and expansion within the prop trading industry. FTMO reported a turnover of nearly CZK 5 billion (over $213 million) in 2023. This represents a 20 percent increase from the previous year’s CZK 4 billion (approximately $170 million). Additionally, the company’s EBITDA reached almost $100 million.

FTMO’s Record Turnover Marks $213 Million Milestone in 2023

Additionally, the number of open trading accounts with the Czech company exceeded 2.3 million in 2024, marking a 33 percent increase year-over-year.

Earlier this year, FTMO acquired the traditional proprietary trading company Quantlane and the marketing agency eVisions. The company is now in the process of launching a brokerage, having appointed industry expert Michael Kamerman as the CEO of its brokerage unit.

“We consider it a great success that we were able to further expand our platform services and grow our user base,” Šuffner said. “Achieving record turnover and profit is essential for us, especially in terms of healthy finances and leveraging the opportunities this growth presents for the continued expansion of the Group. Our vision, which may be nearing its final form, is to make FTMO a place where every aspiring trader or person interested in trading can find what they need.”

FTMO’s expansion is evident through its notable hires, including Radek Dyntar as CFO and Eva Svobodová as Chief Legal Officer earlier this year. Despite these diversifications, FTMO emphasized that its core focus remains on prop trading products. The company also highlighted that it paid 80 percent more to its traders in the first seven months of 2024 compared to the same period last year.

Consolidation Trends in Prop Trading

While FTMO is flourishing, numerous other prop trading companies are facing difficulties, with some even shutting down. Brands such as The Funded Engineer, True Forex Funds, Stocknet Institute, SurgeTrader, and Skilled Funded Trader have ceased operations due to various circumstances.

Meanwhile, an increasing number of retail CFD brokers are entering the expanding prop trading industry, providing prop trading services alongside traditional brokerage offerings. This trend began with OANDA, Axi, and Hantec Markets, and now includes brokerage firms such as Blueberry Markets, IC Markets, ThinkMarkets, Traders Trust, and Trade.com, which are either already offering or planning to offer prop trading services.

However, the industry has also attracted regulatory scrutiny. Finance Magnates previously reported the European Securities and Markets Authority’s interest in prop trading firms. Recently, Dr. George Theocharides, Chair of CySEC, stated that there will likely be increased scrutiny on prop trading firms in the near future.

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