The turnover of the prop trading firm increased by 20 percent year-over-year.
EBITDA of the company also reached nearly $100 million.
FTMO, a prominent prop trading brand planning to launch a brokerage, generated a turnover of almost CZK 5 billion (over $213 million) in 2023, Finance Magnates learned exclusively. The figure jumped 20 percent from the previous year’s CZK 4 billion (about $170 million) in turnover. The EBITDA of the company also reached nearly $100 million.
Strong Numbers for FTMO
Furthermore, the number of open trading accounts with the Czech company reached more than 2.3 million in 2024, which is 33 percent higher year-over-year.
“Last year was significant for us for several reasons, but the main one is clearly the transition from a company focused on a single business to a group that synergises different sectors,” said Otakar Šuffner, co-founder and CEO of FTMO.
Indeed, FTMO acquired traditional proprietary trading company Quantlane and marketing agency eVisions earlier this year. Now, the company is in the process of launching a brokerage and has already onboarded Michael Kamerman, an industry expert, 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 added. “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.”
Despite the diversifications, FTMO reiterated that its core prop trading products remain its priority. Regarding payouts to prop traders, the company highlighted that it paid 80 percent more money to its traders in the first seven months of 2024 than in the same period last year.
Is the Prop Trading Industry Consolidating?
While FTMO is thriving, many other prop trading companies are struggling, and some have even shuttered. The Funded Engineer, True Forex Funds, Stocknet Institute, SurgeTrader, and Skilled Funded Trader were some prop trading brands that terminated their operations due to various circumstances.
Meanwhile, more and more retail CFDs brokers are now jumping into this growing industry, offering prop trading services along with regular brokerage services. A trend started with OANDA, Axi, and Hantec Markets; now, brokerage brands like Blueberry Markets, IC Markets, ThinkMarkets, Traders Trust, and Trade.com are either offering or in the process of offering prop trading services.
FTMO, a prominent prop trading brand planning to launch a brokerage, generated a turnover of almost CZK 5 billion (over $213 million) in 2023, Finance Magnates learned exclusively. The figure jumped 20 percent from the previous year’s CZK 4 billion (about $170 million) in turnover. The EBITDA of the company also reached nearly $100 million.
Strong Numbers for FTMO
Furthermore, the number of open trading accounts with the Czech company reached more than 2.3 million in 2024, which is 33 percent higher year-over-year.
“Last year was significant for us for several reasons, but the main one is clearly the transition from a company focused on a single business to a group that synergises different sectors,” said Otakar Šuffner, co-founder and CEO of FTMO.
Indeed, FTMO acquired traditional proprietary trading company Quantlane and marketing agency eVisions earlier this year. Now, the company is in the process of launching a brokerage and has already onboarded Michael Kamerman, an industry expert, 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 added. “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.”
Despite the diversifications, FTMO reiterated that its core prop trading products remain its priority. Regarding payouts to prop traders, the company highlighted that it paid 80 percent more money to its traders in the first seven months of 2024 than in the same period last year.
Is the Prop Trading Industry Consolidating?
While FTMO is thriving, many other prop trading companies are struggling, and some have even shuttered. The Funded Engineer, True Forex Funds, Stocknet Institute, SurgeTrader, and Skilled Funded Trader were some prop trading brands that terminated their operations due to various circumstances.
Meanwhile, more and more retail CFDs brokers are now jumping into this growing industry, offering prop trading services along with regular brokerage services. A trend started with OANDA, Axi, and Hantec Markets; now, brokerage brands like Blueberry Markets, IC Markets, ThinkMarkets, Traders Trust, and Trade.com are either offering or in the process of offering prop trading services.
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
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