FTMO Permanently Bans Dan Cheung @wannabechamp After Reported Rule Violations
A fresh debate has emerged within the proprietary trading industry after FTMO reportedly terminated its relationship with trader Dan Cheung, known online as @wannabechamp, despite previously paying him nearly $180,000 in profits.
The development has drawn widespread attention after FundedPropTraders.com shared details of the case, with many traders discussing how prop firms enforce trading rules as accounts become increasingly profitable.
Trader Says Restrictions Built Up Over Time
According to Dan Cheung, the decision to end his relationship with FTMO did not happen suddenly.
Instead, he claims it followed a series of trading restrictions that gradually limited the way he executed his strategy.
One of the first changes involved lot size limitations, which reportedly prevented him from increasing his position sizes as his trading capital grew. Dan argued that this interfered with his preferred risk management approach, where he typically risked around two percent per trade.
“One-Sided Betting” Restriction
Dan also claimed that FTMO restricted his ability to re-enter trades in the same direction within a relatively short period after closing a position.
According to him, the firm classified this trading behavior as “one-sided betting,” a term that has become increasingly discussed across the prop trading industry.
He argued that similar cases have affected other traders, including reports of payouts being denied under comparable classifications at various proprietary trading firms.
Comparison With Newer Prop Firms
During his comments, Dan compared FTMO’s business model with that of newer competitors entering the industry.
He suggested that newer firms have experienced rapid growth while operating under what he described as more flexible trading conditions.
As part of his comparison, he noted that FTMO has reportedly paid out approximately $500 million over more than a decade, while newer firms such as FundingPips have announced hundreds of millions of dollars in payouts within a much shorter period.
Dan argued that increased competition is changing trader expectations regarding flexibility and account management.
Loss of Funded Capital
According to Dan, the outcome resulted in the loss of a $400,000 funded account, effectively ending future earning opportunities through FTMO.
Despite the setback, he says he shifted his attention to trading his own capital, where he claims to have generated multiple six-figure returns within two months.
Looking ahead, Dan announced plans to begin a live $50,000 challenge series using alternative proprietary trading firms, including Hola Prime and FundingPips.
Wider Discussion on Prop Firm Rules
The incident has reignited discussions about how proprietary trading firms interpret and enforce trading rules, particularly those related to execution patterns and risk management.
While firms maintain that such policies are designed to detect prohibited trading behavior and protect the integrity of their platforms, many traders continue to call for clearer definitions of terms such as “one-sided betting” and more transparent enforcement procedures.
At the time of writing, FTMO has not publicly responded to the specific claims made by Dan Cheung regarding the reported restrictions or the termination of their business relationship.
As the proprietary trading industry continues to evolve, the case has added to the broader conversation surrounding transparency, consistency, and trader expectations in funded trading programs.
