Cancel Ftmo: Step-by-Step Guide

How to cancel FTMO and recover your evaluation fee in singapore

Why you might cancel FTMO and what your rights are

FTMO is a proprietary trading firm headquartered in Prague, Czech Republic, with a secondary office in Mauritius. The platform charges traders a one-time evaluation fee to access demo trading challenges. If you pass the challenge by meeting profit targets and staying within risk limits, you gain access to a live funded trading account. However, not every trader finds the evaluation structure right for their goals or budget.

You might decide to cancel FTMO for legitimate reasons: the evaluation terms don't suit your trading style, you need to withdraw your money before the deadline, or you purchased merchandise and changed your mind. Your right to cancel depends on which product you bought and whether you have stayed within your legal cooling-off window. Tocancel exists to help you understand those rights and take action confidently.

The two main FTMO products and their cancellation rules

FTMO operates two distinct services with different refund terms. The Challenge evaluation is a digital service where you pay once to trade a demo account under specific conditions. The FTMO shop sells physical merchandise, including branded goods and trading resources. Understanding which product you purchased is the first step toward successful cancellation.

If you bought FTMO products through an app store-Apple App Store or Google Play-the platform does not process refunds directly. Instead, you contact Apple or Google's support teams, which have their own consumer protection rules. This matters because app store refunds follow different timelines and approval processes than direct FTMO purchases.

Your legal position under singapore's consumer law

Singapore's Consumer Protection (Fair Trading) Act is your statutory shield. This law gives you the unconditional right to cancel certain consumer contracts within 14 days of purchase. You do not need FTMO's permission or a reason; the law entitles you to withdraw. This cooling-off period applies to both digital Challenges and physical shop orders, provided you have not yet started using the product. Tocancel recommends treating this window as a hard deadline-once it passes, your protection shrinks significantly.

Your 14-day cooling-off right explained

The cooling-off period is your strongest legal tool for cancelling FTMO without penalty.

How the 14-day countdown works

Your 14-day cooling-off period begins on the date you received your order confirmation email, not the date you signed up for your account or clicked "purchase." This distinction matters because it sets the hard deadline for your refund claim. Count 14 calendar days from that email timestamp.

For digital Challenges, your right expires the moment you open the demo trading account and place your first trade. The platform makes this clear in its terms, but many traders overlook it. As soon as you log in and execute a trade, you signal to FTMO that you have started using the service. Once that happens, your cooling-off right vanishes, and you cannot claim a refund. This is why Tocancel urges you to submit your cancellation request before you trade a single contract.

What cancellation within 14 days actually means

If you cancel within the cooling-off period and have not yet traded, FTMO must refund your evaluation fee in full. You forfeit no payment, face no penalties, and owe nothing more. The company cannot charge you for "administrative costs" or claim the service was partially consumed. The law is clear: a full refund is your right.

For physical merchandise, the same 14-day rule applies. You can return unused, unopened items in original packaging and receive a full refund. However, once you open the packaging or use the product, your cooling-off right expires. This is why it matters to inspect your order immediately after delivery and decide quickly whether you want to keep it.

How to cancel your FTMO challenge evaluation

Cancelling a digital Challenge requires speed and clarity-you must contact FTMO by email before you trade the demo account.

Step-by-step cancellation process

1. Check your purchase date and confirm you are still within the 14-day cooling-off period.
   • Find your order confirmation email from FTMO and note the exact date you received it.
   • Count forward 14 calendar days. If today falls on or before that date, you are safe to proceed.
   • If the 14 days have passed, your cooling-off right has expired, and you will need to negotiate a refund outside the law.
2. Log into your FTMO account and verify you have not yet started trading the demo Challenge.
   • Open your account dashboard and review the Challenge tab.
   • If you see zero trades and no activity history, you have not yet "used" the product.
   • If you see even one executed trade, your cooling-off right has ended, and a refund will be unlikely.
3. Compose a formal cancellation email to FTMO support.
   • Address your email to [email protected].
   • Include in the subject line: Your account username, full name, email address on file, and order or invoice number.
   • In the email body, state: "I request to withdraw from the Challenge under the Consumer Protection (Fair Trading) Act, 14-day cooling-off period, and claim a full refund of my evaluation fee."
   • Keep your language professional and factual. Do not argue or explain personal reasons; the law does not require justification.
4. Send the email and keep a copy for your records.
   • Note the exact date and time you sent the email. This timestamp may become evidence if FTMO disputes the deadline.
   • Do not expect an instant reply. Allow 3 to 5 business days for an initial response.
5. Monitor your inbox for FTMO's reply and watch for refund processing.
   • FTMO should confirm receipt of your cancellation request within 2 business days.
   • Once approved, your refund should arrive in your original payment method within 10 to 14 business days, depending on your bank.
6. If FTMO refuses your refund or does not respond within 7 days, escalate to Singapore's consumer authority.
   • File a complaint with the Consumer Association of Singapore (CASE) or contact the Consumers Association of Singapore directly.
   • Provide your email copies, the original order confirmation, and proof of payment.
   • CASE can mediate or refer your complaint to the relevant regulator if the dispute involves financial services.

Your cancellation email is your legal record. Once sent within the 14-day window, FTMO has a duty to honour your request-the law does not give the company discretion to refuse.

Cancelling FTMO shop orders

If you purchased physical merchandise from the FTMO shop, the cancellation process is similar but includes an extra step.

1. Confirm the item is unused and in original packaging.
   • FTMO will only refund unopened merchandise in resaleable condition.
   • If you have opened the packaging or used the product, your cooling-off right is void.
2. Email [email protected] with your order number and request a return.
   • Include the reason for return (optional, but helpful) and confirm the item is unused.
   • Ask for return shipping instructions and a prepaid label, if available.
3. Pack the item securely and ship it to the address FTMO provides.
   • Keep your shipping receipt and tracking number.
   • Send the item via registered or tracked mail so you have proof of delivery.
4. Once FTMO receives and inspects the item, they will process your refund.
   • This typically takes 5 to 10 business days from the date they receive the parcel.
   • Your refund will arrive in your original payment method.

FTMO's pricing and evaluation fee structure

Understanding FTMO's fee structure helps you determine exactly what you paid and what you should expect to recover.

These fees are one-time, non-recurring charges. Once you cancel within 14 days, FTMO refunds the full amount listed above. Do not pay additional "withdrawal fees"-that is illegal under Singapore law. If FTMO demands extra payment to cancel, contact Tocancel or file a complaint with the consumer authority immediately.

What happens after you submit your cancellation

Once you send your cancellation email, the next two weeks are critical for tracking your refund progress.

Timeline and what to expect

FTMO should acknowledge your cancellation request within 2 business days. This acknowledgment does not mean the refund is approved, only that the company has received your request. Within 7 business days, FTMO should confirm whether your cancellation qualifies for a refund under the cooling-off period. If yes, the refund should process within 14 days of confirmation, arriving back to your original payment method (credit card, debit card, or bank transfer).

Credit card refunds can take 5 to 10 business days to appear on your statement, depending on your bank's processing time. Bank transfers may arrive faster, sometimes within 2 to 3 business days. Do not assume the refund is lost if it does not appear instantly. However, if 14 days pass after FTMO's confirmation and you still have no refund, escalate immediately.

If FTMO delays or refuses your refund

If FTMO does not respond within 7 days or refuses your refund claim, you have legal remedies. Document every email you sent and every response (or lack thereof). Screenshot your FTMO account to show no trading activity. Then file a formal complaint with the Consumer Association of Singapore (CASE) or contact the relevant financial regulator if FTMO holds licenses in Singapore.

CASE can mediate disputes and push FTMO to honour your cooling-off right. If mediation fails, CASE can refer your case for formal investigation. The threat of regulatory action often motivates companies to refund quickly. Tocancel has helped thousands of consumers recover their money by following this escalation path, and you can too.

Common mistakes traders make when cancelling FTMO

Many traders lose their right to a refund by making preventable errors. Learning from these mistakes can save you hundreds of dollars.

Trading the demo before submitting cancellation

This is the single most costly mistake. The moment you log into your Challenge and place a trade-even a tiny 0.01 lot on a micro contract-your cooling-off right expires. FTMO's terms state this clearly, but traders often misunderstand. They assume they have time to test the platform before deciding. They do not. If you decide FTMO is not for you, cancel first, then navigate away from the platform. Never trade a single contract while inside the 14-day window. This mistake alone costs traders their refund eligibility every day.

Waiting until day 13 or 14 to cancel

Do not wait until the last moment. Email your cancellation request as soon as you decide to withdraw, ideally within the first week of purchase. Why? Because your email timestamp is the cancellation date in FTMO's system. If you email on day 14 at 11:59 p.m., and FTMO receives it on day 15 at 12:01 a.m., the company may claim your request falls outside the window. FTMO's servers are in Prague (Central European Time), which is several hours ahead of Singapore. This time zone difference can trip you up. Submit early to eliminate any ambiguity.

Not keeping a copy of your cancellation email

If you delete your sent folder or lose your email records, you have no proof you requested cancellation on time. Keep a screenshot or copy of every email you send to FTMO, including the timestamp and full body. If a dispute arises, this evidence is your only proof that you acted within the 14-day window. Email archives are free; losing your refund is expensive.

Confusing FTMO's discretionary 30-day returns policy with the 14-day cooling-off law

FTMO's website mentions a 30-day returns policy for shop merchandise. This is not the same as your legal cooling-off right. The 30-day policy is a company gesture, not a legal guarantee. The 14-day cooling-off period is your legal entitlement under Singapore law. Do not rely on FTMO's goodwill. Always cite the law in your cancellation email: "I request to withdraw under the Consumer Protection (Fair Trading) Act, 14-day cooling-off period." This language tells FTMO you know your legal position and expect full compliance.

Contacting FTMO for cancellation and refunds

FTMO's official support address is your gateway to a refund.

How to reach FTMO

Send all cancellation and refund requests to [email protected]. This is FTMO's official email address for consumer inquiries in Singapore. Do not contact individual traders, social media accounts, or secondary email addresses. Use only the support email to create a formal, documented record of your request.

FTMO's headquarters are located in Prague, Czech Republic, and they maintain a secondary office in Mauritius. These addresses matter only if you need to escalate your complaint to a regulator or seek legal advice. For refunds, email is your fastest and most documented route.

Information to include in every cancellation email

Include the following details in your subject line and email body to ensure fast processing:

• Your full name as registered on the FTMO account.
• Your FTMO account username or email address.
• Your order number or invoice number.
• The original purchase date (from your confirmation email).
• The Challenge type or merchandise name you are cancelling.
• The refund reason: "Withdrawal under Consumer Protection (Fair Trading) Act, 14-day cooling-off period."
• Your phone number and preferred contact method.

This information speeds up FTMO's processing and prevents them from requesting clarification emails, which can delay your refund.

Refund methods and how long to wait

FTMO refunds your money to the original payment method you used to purchase the Challenge.

Bank transfer is the fastest method. If FTMO offers the option, request a refund to your Singapore bank account. Avoid cryptocurrency or payment platforms you do not regularly use-these add processing delays and may incur conversion fees. Tocancel recommends asking FTMO explicitly: "Please refund to my primary Singapore bank account [include account holder name and last four digits]." This prevents the company from defaulting to a slower method.

What to do if FTMO refuses your refund

If FTMO denies your cancellation request or ignores your email, do not give up-you have legal escalation options.

Step 1: send a formal letter via registered mail

If email yields no response after 10 days, send a registered letter to FTMO's Prague address. Include the same information as your email, plus a copy of your order confirmation. Mark the envelope "Formal Complaint-Cooling-Off Period Withdrawal." This step creates a physical record and signals seriousness. FTMO's legal team pays more attention to registered letters than emails.

Step 2: file a complaint with singapore's consumer authority

If FTMO still refuses, contact the Consumer Association of Singapore (CASE). You can file a complaint online at their website or visit their office. Provide copies of your order confirmation, your cancellation emails, and FTMO's response (or lack thereof). CASE will contact FTMO on your behalf and attempt mediation.

If FTMO is regulated as a financial services provider in Singapore, you may also file a complaint with the Monetary Authority of Singapore (MAS). This escalation carries more weight because MAS can impose fines and licensing restrictions. FTMO's refusal to honour your cooling-off right is a breach of Singapore consumer law, and regulators treat this seriously.

Step 3: seek legal advice

If the refund amount exceeds SGD 5,000, consider consulting a consumer rights lawyer. Many offer free initial consultations. A lawyer can send a formal demand letter, which often prompts companies to settle rather than face court proceedings. Tocancel advocates for self-help first, but legal action is always available if the company refuses to comply with the law.

When you cannot cancel and claim a refund

Certain circumstances exclude you from cooling-off protection. Understanding these boundaries helps you set realistic expectations.

After you have traded the demo account

Once you place even one trade in the FTMO Challenge, your cooling-off right is gone. The law allows companies to exclude refunds when the consumer has "begun to perform" the service. For a trading platform, performing the service means logging in and executing a trade. FTMO's terms are explicit about this. If you have already traded, your only option is to negotiate directly with FTMO's support team, but they are under no legal obligation to refund.

After 14 days have passed

If you miss the 14-day deadline, your cooling-off right expires. You cannot claim a refund based on the law. However, you can still ask FTMO for a refund as a gesture of goodwill or customer service. Some companies grant refunds beyond the cooling-off period if the trader has not yet profited or if the Challenge terms have changed. It is worth asking, but the answer may be no.

For digital downloads and some software

FTMO excludes digital downloads and certain software products from returns. If you purchased a trading guide or educational course, you may not have cooling-off rights for that product. Check the item's product page before purchasing to confirm its return policy.

A quick checklist before you cancel FTMO

Use this checklist to ensure you are cancelling correctly and protecting your refund.

Complete every task in order. Skipping steps increases your risk of losing the refund. Once you send your cancellation email, the legal clock has started ticking in your favour. FTMO has a duty to refund you within 14 days of your request. Tocancel exists to guide you through this process and ensure the company honours its obligations.

Why you should act now to cancel FTMO

The 14-day cooling-off period is a ticking clock. Once it expires, your legal protection disappears, and negotiating a refund becomes difficult or impossible.

If you have decided FTMO is not right for you, do not wait. Submit your cancellation email today, before you trade a single contract. Keep your confirmation emails and support replies safe. If FTMO stalls or refuses, escalate to CASE or the relevant regulator without delay. Your consumer rights are backed by Singapore law, and you do not have to accept unreasonable refusal.

Tocancel has helped thousands of consumers cancel unwanted services and recover their money by following this clear, legal process. You have the right to change your mind within 14 days. You have the right to a full refund if you have not yet used the service. And you have the right to escalate if the company ignores you. Use all three to protect your financial interests.

Contact FTMO at [email protected] today to submit your cooling-off cancellation. Keep records, stay calm, and trust the law to back you up.