FTMO, a popular proprietary trading firm, has reported a remarkable turnover for 2023, amounting to nearly CZK 5 billion (over $213 million). This represents a 20% increase from the previous year’s CZK 4 billion in turnover. The company also achieved an EBITDA of almost $100 million, reflecting its continued growth and profitability in the competitive prop trading industry.
The substantial financial gains come alongside a significant expansion in FTMO’s client base. The number of open trading accounts surged by 33%, reaching over 2.3 million in 2024. This growth demonstrates FTMO’s successful strategy of diversifying its services and expanding its market reach.
Otakar Šuffner, co-founder and CEO of FTMO, expressed pride in the company’s achievements. “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 synergizes different sectors,” Šuffner said. He highlighted the acquisition of Quantlane, a traditional proprietary trading company, and eVisions, a marketing agency, as pivotal moves that have enhanced FTMO’s service offerings and market presence.
Strategic Appointments
In addition to financial growth, FTMO’s strategic hires have reinforced its leadership team. The company onboarded Michael Kamerman as the CEO of its new brokerage unit, Radek Dyntar as CFO, and Eva Svobodová as Chief Legal Officer. These appointments are expected to drive FTMO’s future initiatives and maintain its competitive edge.
FTMO’s expansion plans include launching a brokerage, further diversifying its business model. This move reflects the company’s ambition to integrate various facets of the financial services sector, providing a comprehensive platform for traders. The firm aims to leverage its strong market position and extensive client base to introduce new products and services.
Despite FTMO’s success, the prop trading industry faces challenges, including increased regulatory scrutiny. The European Securities and Markets Authority (ESMA) has shown interest in the operations of prop trading firms, highlighting the importance of compliance and transparency in this rapidly evolving sector.
While FTMO thrives, other prop trading companies have struggled. Brands like True Forex Funds, Stocknet Institute, SurgeTrader, and Skilled Funded Trader have ceased operations due to various difficulties. In contrast, FTMO’s growth and strategic initiatives position it favorably in the industry.
The broader financial landscape has seen a rise in retail CFDs brokers entering the prop trading space. Companies such as OANDA, Axi, Hantec Markets, IC Markets, ThinkMarkets, Traders Trust, and Trade.com are now offering or planning to offer prop trading services. This trend indicates the growing popularity and potential of prop trading as a lucrative business model.
