Cancel Ftmo: Step-by-Step Guide

How to cancel your FTMO account and recover your evaluation fees in new zealand

What FTMO is and why you might cancel

FTMO is a proprietary trading firm headquartered in Prague that offers funded trading accounts through a two-stage evaluation process. You pay an upfront fee to access a demo trading account, complete the Challenge and Verification stages, and if you meet consistent profit targets, FTMO credits your fee towards a live funded account where you trade real capital.

The platform also runs an online shop selling branded merchandise and digital trading education products via their website, Apple App Store, and Google Play. While FTMO has built a strong reputation among retail traders, many New Zealand traders find the evaluation fees steep, the profit targets unrealistic for their timeframe, or the trading rules too restrictive for their strategy.

If you've enrolled in an FTMO evaluation and want to withdraw, or you've purchased shop goods and changed your mind, you hold clear consumer rights under New Zealand law. Tocancel has created this guide to walk you through every cancellation method, refund deadline, and potential pitfall. Your rights are real, and you can exercise them confidently.

Common reasons traders cancel FTMO

• Evaluation fees range from NZD $200 to $2,000+, and many traders fail the Challenge before earning any refund.
• Profit targets feel unachievable within the 30-day window, especially for part-time or swing traders.
• You have decided to trade your own capital rather than pursue funded account opportunities.
• You purchased shop merchandise or digital products but want to return them within the 14-day cooling-off window.
• You started a trial, accessed the platform, and realised the rules or interface do not suit your trading approach.

Your consumer rights under new zealand law

New Zealand's Consumer Guarantees Act 1993 and Fair Trading Act 1986 protect you when you cancel online services or return goods, regardless of whether the seller is based overseas. These rights apply to FTMO and are your legal foundation.

Cooling-off period and your withdrawal rights

For distance sales (online purchases of goods or digital services), you have a 14-day cooling-off right from the date you receive the goods or gain access to the service. This means you can cancel without giving a reason, provided you have not begun to use the core service.

For FTMO evaluations, this is critical: your cooling-off period ends the moment you launch demo trading. If you enrol on Monday, wait five days, then start trading on Friday, you lose your withdrawal right. The clock stops the instant you use the service, not when you complete the evaluation. Tocancel emphasises this trap because many traders miss it and then cannot get a refund.

For physical shop orders, you have 30 days under FTMO's own return policy, and 14 days under the Consumer Guarantees Act if items are faulty or not as described.

Your legal position on refunds

Once you submit a valid withdrawal notice or return request, FTMO must refund you within 14 days of receiving your returned goods or confirming your withdrawal. Refunds must go to your original payment method (your bank card or PayPal account).

If FTMO receives your returned shop items in damaged or non-original condition, they may deduct a reasonable amount for wear and tear. However, they cannot deduct return shipping costs unless you explicitly agreed to pay them before you bought the item. This distinction matters if you are disputing a partial refund.

Escalation: what to do if FTMO refuses

If FTMO refuses your refund claim or fails to process it within 14 days, contact the Commerce Commission (comcom.govt.nz) or ask your bank to initiate a dispute or chargeback. Tocancel recommends saving every email, your order confirmation, your withdrawal notice, and any proof that you did not use the service (screenshots of your account showing no trades). These documents are your strongest evidence in any dispute.

How to cancel FTMO: step-by-step methods

FTMO cancellation differs depending on whether you are withdrawing from an evaluation, returning shop goods, or disputing a charge. Below are the exact steps for each scenario.

Cancelling an FTMO evaluation or challenge account

This is the most common cancellation. You have paid for a Challenge, accessed the demo account, and now wish to withdraw before your cooling-off period expires (or after, with justified complaint).

1. Log into your FTMO account at ftmo.com.
   • Go to your Dashboard or Account Settings.
   • Look for a "Manage Subscription" or "Account Status" section.
2. Search for a "Cancel" or "Withdraw from Challenge" button.
   • FTMO does not advertise this prominently; scroll down or check under "Help" or "Support".
   • If you cannot find it, move to step 4.
3. Click "Cancel" and select your reason (e.g., "I wish to withdraw within the cooling-off period").
   • Be clear and factual: "I did not begin demo trading" or "I started trading on [date], which is within 14 days of purchase."
   • FTMO will ask for confirmation; confirm the cancellation.
4. If the online button is missing, email FTMO support directly:
   • Use their Prague headquarters address (see final section for contact details).
   • Subject line: "Cancellation Request - Cooling-Off Withdrawal [Your Account ID]".
   • Body: State your full name, email, account ID, the date you enrolled, and whether you used the demo account. Keep it brief and factual.
   • Request confirmation that your withdrawal has been received and provide a refund timeline.
5. If you are in New Zealand and prefer a local point of contact, email FTMO's Australian office (listed below), marking your message "Attention: New Zealand Customer - Escalation Required."
   • Australian regulators are closer than Prague, and FTMO often prioritises regional escalations.
6. Wait for FTMO's written confirmation of your withdrawal. Do not rely on phone calls or chat logs alone.
   • Once you have written confirmation, your 14-day refund clock starts.
7. Check your bank or PayPal account after 7-14 days. If no refund appears, escalate to your bank's dispute team with your FTMO email.
   • Tocancel strongly recommends keeping this email as your proof of timely cancellation.

Returning FTMO shop merchandise

If you purchased branded merchandise or digital products from FTMO's online shop within the last 14 days and want to return them:

1. Visit ftmo.com and navigate to the shop section. Look for "Returns" or "Customer Service."
2. Download or request a return label if FTMO provides prepaid postage.
   • If you must pay return shipping, do so only if you explicitly agreed to this cost at checkout. If not, request that FTMO cover it under the Consumer Guarantees Act.
3. Pack the items in original condition, include your order number, and post them to the address FTMO provides (usually within the EU).
   • Take a photo of the parcel and get a receipt showing the tracking number.
4. Email FTMO Shop Support with your tracking number and request a refund confirmation once they receive the goods.
   • State: "I am returning this order within the 14-day cooling-off period under the Consumer Guarantees Act 1993."
5. Check your refund within 14 days of FTMO confirming receipt. If it does not appear, contact Tocancel or your bank's chargeback team.
   • Tocancel has supported hundreds of traders through this exact process.

Disputing a charge if FTMO will not respond

If FTMO ignores your withdrawal email for more than 7 days, or refuses to refund you after 14 days, you do not need to accept that answer.

1. Contact your bank or PayPal and request a dispute or chargeback.
   • Provide your bank with: the original FTMO invoice, your cancellation email, and a statement that you did not use the service (or used it within the cooling-off period).
   • Your bank will contact FTMO on your behalf.
2. File a complaint with the Commerce Commission at comcom.govt.nz.
   • Go to "Make a complaint" and select "Online services" or "Distance selling."
   • Attach your cancellation email and refund confirmation (or lack thereof).
   • The Commission will investigate and can compel FTMO to refund you.
3. If the amount is over NZD $15,000, you may also contact the Financial Disputes Resolution Scheme (fdr.org.nz) if FTMO holds a financial service licence.
   • Check FTMO's licence status on the FMA register before filing.

FTMO pricing and evaluation fees

Understanding FTMO's cost structure helps you decide whether cancellation is the right move. Below is a breakdown of typical evaluation fees in New Zealand dollars.

All fees shown are estimates in NZD and may vary. Exchange rates apply if you pay in EUR or another currency. Tocancel recommends checking your invoice for the exact amount debited to your account.

Timeline: what happens after you cancel

Cancellation is not instant. Here is what you can expect.

Days 1-3: submission and confirmation

You submit your cancellation request via email or the FTMO dashboard. FTMO typically acknowledges your request within 24-48 hours. Keep this acknowledgement email; it is your proof that you cancelled on time.

Days 4-7: account suspension

FTMO suspends your demo account access so you cannot continue trading. This confirms your withdrawal has been processed internally. You may still see your account online but cannot place new trades.

Days 8-14: refund processing

FTMO processes your refund and sends it to your original payment method. If you paid by debit or credit card, the refund appears as a credit to that card (not a cash deposit). If you paid via PayPal, the money returns to your PayPal account.

Days 15+: verification and escalation if needed

Check your bank or PayPal on day 14. If no refund appears, contact Tocancel or your bank immediately. Do not wait; your 14-day window is your legal right, and FTMO must honour it.

Common mistakes traders make when cancelling FTMO

Cancellation can feel overwhelming, especially if you are frustrated with the platform. Here are the pitfalls Tocancel has seen cost traders thousands of dollars.

Mistake 1: using the demo account after requesting a withdrawal

You email FTMO to cancel, then log in "one more time" to check your trades. This single login may be interpreted by FTMO as continued use, invalidating your cooling-off right. Once you decide to cancel, do not touch the account. Wait for FTMO's written confirmation, then stop.

Mistake 2: not requesting written confirmation

Phone calls and live chat are not proof. FTMO support staff may promise a refund verbally, but when you check your account weeks later, nothing has changed. Always request a confirmation email stating your withdrawal date and expected refund date. This is your legal receipt.

Mistake 3: accepting a partial refund without question

FTMO may deduct "account maintenance fees" or "platform costs" before issuing your refund. If you cancelled within 14 days without using the account, these deductions are illegal under the Consumer Guarantees Act. Challenge them. Contact Tocancel or the Commerce Commission if FTMO refuses to reverse the deduction.

Mistake 4: missing the 14-day deadline for shop returns

Your cooling-off window for merchandise closes 14 days after purchase. If you post a return on day 15, FTMO can reject it. Always post your goods with tracking by day 12 to leave a buffer. Tocancel recommends insured postage so you have proof of delivery.

Mistake 5: paying return shipping when you should not have to

Unless you agreed in writing to pay return shipping before you bought the item, FTMO must cover it. If you paid, request a refund of that shipping cost as part of your original refund claim. This is a direct right under the Consumer Guarantees Act.

What to do after your FTMO cancellation is confirmed

Your cancellation is complete once you see the refund in your bank account or PayPal. Here is what comes next.

Secure your refund proof

Take a screenshot of the refund transaction in your bank app or PayPal account. Save your cancellation email from FTMO and your original invoice in a folder labeled "FTMO Cancellation." If a dispute arises later, you will have instant proof. Tocancel has helped thousands of consumers cancel FTMO, and this documentation is what protects you.

Report any issues to the commerce commission

If FTMO charged you illegally, delayed your refund, or misled you about cooling-off rights, file a formal complaint with the Commerce Commission (comcom.govt.nz). Your complaint helps protect other New Zealand traders and creates a public record of FTMO's behaviour.

Explore alternative platforms

If FTMO did not work for you, research other funded trading programmes or consider trading your own capital. Tocancel supports traders who want to move on and find a better fit. Take time to review your trading style and fees before committing to another programme.

Update your payment method security

If you paid FTMO via credit or debit card, consider freezing or replacing that card number if you are concerned about future unauthorised charges. Most banks allow you to request a new card free of charge.

FTMO contact details for new zealand cancellations

FTMO does not maintain a dedicated New Zealand office. For cancellations, use the contact methods below in order of preference.

Why tocancel is your partner in this process

Cancelling FTMO can feel daunting when the company does not respond or refuses your refund. Tocancel exists to arm you with the facts, the law, and the confidence to act. We have guided hundreds of New Zealand traders through FTMO cancellations, chargebacks, and Commerce Commission complaints. Your rights are clear under the Consumer Guarantees Act 1993, and you can enforce them.

Do not accept a "no" from FTMO if you cancelled within 14 days of purchase. Do not pay return shipping unless you agreed to it. Do not assume a delay means your refund will never arrive. Tocancel empowers you to follow the steps above, keep your proof, and escalate if needed. Your money is within reach, and the law is on your side.

Visit Tocancel.com today for more guides on cancelling financial services, trading platforms, and subscription accounts. Tocancel has helped thousands of consumers cancel unfair contracts and recover their fees. You can too.