FTMO Singapore Review

Overview: Peter's Honest Audit

FTMO is the undisputed heavyweight champion of the prop trading world. Founded in 2015 in Prague, they have survived multiple industry shakeups that wiped out less capitalized competitors. If you are a Singapore retail trader looking to scale up your capital from a few thousand dollars to a six-figure funded account, FTMO is the safest, most reliable platform to do it (assuming you can actually trade).

In Peter's experience, the biggest risk with prop firms isn't the difficulty of the evaluation—it's whether the firm will actually pay you when you make a profit. FTMO has a spotless record of paying out millions of dollars every single month. They don't look for excuses to deny withdrawals, they don't restrict news trading on standard accounts, and their spreads are as raw as they get.

Let's check their rules, how they operate in Singapore, and the tax realities of getting paid by a Czech company.

MAS Regulation & Prop Trading Legality in Singapore

The Monetary Authority of Singapore (MAS) does not regulate prop trading firms. Why? Because FTMO is not a broker, and they do not manage retail client deposits. When you pay a challenge fee, you are paying for an evaluation. Once funded, you trade on a demo account, and the company replicates your trades in their live fund. Because no customer funds are being pooled or managed, FTMO does not require a Capital Markets Services (CMS) license from the MAS. It is entirely legal to participate from Singapore, but you do not have MAS dispute resolution protections.

IRAS Tax Rules: Are FTMO Profits Tax-Free?

Here is a major warning for local traders: profits from FTMO are NOT tax-free capital gains under IRAS. When you trade your own personal bank account, IRAS exempts capital gains. But with FTMO, you are technically a service provider (a contractor) receiving a performance-based service fee. This income is classified as trade/professional income and must be declared in your IRAS tax filing. It is subject to personal income tax slab rates (up to 24% for high earners) or corporate tax if you route it through a local Pte Ltd.

Trading Conditions, Spreads, and Slippage

FTMO operates its own proprietary institutional server. Spreads on EURUSD and GBPUSD routinely sit at 0.0 to 0.2 pips during the London/New York overlap. Commissions are a standard $3 per lot per side ($6 round turn), which is highly competitive. Execution speeds are excellent (usually under 120ms from Singapore). Unlike other firms, you can trade the news on their swing account profile, which is highly recommended if you don't want to get caught by sudden volatility restrictions.

Frequently Asked Questions