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

What FTMO is and why you might want to cancel

FTMO is a proprietary trading firm based in Prague that runs a two-stage evaluation process called the Challenge and Verification. You pay a one-time fee to access a demo trading account, and if you generate consistent profits, FTMO credits your fee back towards a funded live account.

FTMO also operates an online shop selling branded merchandise and digital trading products, accessible via their website, the Apple App Store, and Google Play. The platform has built a reputation in the trading community, but many traders find the evaluation process expensive, the profit targets unrealistic, or the rules too restrictive for their trading style.

If you've enrolled in an FTMO evaluation and want to step back, or you've purchased physical goods and changed your mind, you have consumer rights under New Zealand law. Stopee is here to walk you through every cancellation method, refund deadline, and trap to avoid.

Common reasons traders cancel FTMO

• Evaluation fees are high relative to account size, and many traders fail the Challenge before seeing a refund.
• The profit targets feel unachievable within the time frame, especially for part-time traders.
• You've decided to trade on your own capital instead of pursuing funded accounts.
• You purchased shop merchandise or digital products but want to return them within the cooling-off period.
• You started a trial and realised the platform or rules don't suit your strategy.

Your consumer rights under new zealand law

New Zealand's Consumer Guarantees Act 1993 and the Fair Trading Act 1986 protect you when you cancel services or return goods. These rights apply to FTMO even though the company is based overseas.

Cooling-off period and withdrawal rights

For distance sales (online purchases), you have a 14-day cooling-off right from the date you receive goods or access a digital service. This means you can cancel within 14 days without giving a reason, provided you have not started using the core service.

For FTMO's evaluation products, the cooling-off window closes the moment you launch demo trading. If you sign up, wait three days, then begin trading on the demo account, you lose your right to withdraw. This is a critical trap that Stopee wants you to understand upfront.

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

Refund obligations

Once you submit a valid withdrawal or return notice, FTMO must process your refund within 14 days of receiving your goods back or confirming your withdrawal. Refunds must be issued to your original payment method.

If you return shop items and they are damaged or not in original condition, FTMO may deduct a reasonable sum for wear and tear. However, they cannot deduct the cost of return shipping unless you explicitly agreed to bear that cost before purchase.

Escalation and disputes

If FTMO refuses to refund you after 14 days, or disputes your cancellation claim, contact the Commerce Commission (comcom.govt.nz) or your bank to initiate a dispute. Stopee recommends keeping all email correspondence, order confirmations, and proof of your withdrawal notice. These documents are your strongest lever in any dispute with FTMO.

How to cancel FTMO: methods by platform

Cancellation steps differ depending on whether you enrolled in an evaluation, purchased shop goods, or made an in-app purchase. Below, you will find step-by-step instructions for each.

Cancelling an FTMO evaluation or challenge account

This is the most common cancellation. You have submitted payment for the Challenge, accessed your demo account, but want to withdraw before completing the evaluation or starting live trading.

1. Log in to your FTMO account at ftmo.com.
   • Navigate to your account dashboard or profile settings.
   • Look for a "Subscription", "Billing", or "Account Settings" menu.
2. Check the date you enrolled.
   • Count back 14 days from today; if you are within that window, your cooling-off right is still active.
   • If you have started demo trading, note the date you began. Your right to withdraw expires when you place your first trade.
3. Compose a written withdrawal notice via email to support@ftmo.com.
   • Subject line: "Withdrawal notice for account [your email/username]"
   • State clearly: "I wish to withdraw from my FTMO evaluation contract within the 14-day cooling-off period."
   • Include your account email, username, and the date you enrolled.
   • Do not mention any detailed reason; a simple withdrawal statement is enough.
   • If you have not started demo trading, explicitly state: "I have not commenced any trades and am withdrawing before any service is consumed."
4. Send the email and request a read receipt.
   • Save a copy of the email you sent and the receipt confirmation.
   • Note the date and time of dispatch.
5. Wait for FTMO's written confirmation.
   • FTMO should reply within 2-3 business days acknowledging your withdrawal.
   • They will confirm whether you are entitled to a refund based on the 14-day window and whether demo trading has begun.
6. Receive your refund.
   • If your withdrawal is valid, FTMO will process the refund to your original payment method within 14 days of confirming the withdrawal.
   • Bank processing may take an additional 3-5 business days depending on your bank.

Warning: If you have already started demo trading, even on the first day, you lose your cooling-off right. FTMO may still refund your evaluation fee, but only at their discretion, not as a legal obligation. Always check the terms of your specific plan before opening a demo account.

Pro tip: Request your refund in writing, not via live chat. Written email creates an auditable record that protects you if FTMO claims they never received the request.

Returning FTMO shop orders (physical goods)

You have purchased branded merchandise, training materials, or physical products from shop.ftmo.com and want to return them.

1. Check the item description and refund policy.
   • Visit shop.ftmo.com/refund_returns/ and review the specific policy for your item type.
   • Some digital items and clearance stock are non-returnable; confirm your item is eligible.
2. Count the days since you received the goods.
   • You have 30 days from delivery under FTMO's policy, and 14 days under the Consumer Guarantees Act if the goods are faulty or not as described.
   • Check your email for the delivery receipt; this is your start date.
3. Contact FTMO shop support.
   • Email shop@ftmo.com with the subject: "Return request for order [order number]"
   • Include your order number, the item name, and the date you received it.
   • State the reason: "I wish to return this item within the refund period" (you do not need to elaborate).
4. Receive return instructions from FTMO.
   • FTMO will send you a return address, typically their Prague office or a regional warehouse.
   • Ask them to confirm who bears the return shipping cost before you dispatch the parcel.
5. Pack and ship the item.
   • Keep the goods in original condition, with all packaging and documentation if possible.
   • Use a tracked courier service (e.g., NZ Post International, DPD, or DHL) so you have proof of delivery.
   • Take a photograph of the package before handing it over to the courier.
   • Save your tracking number and receipt.
6. Wait for FTMO to confirm receipt and process your refund.
   • Once FTMO receives the returned item, they have 14 days to issue the refund to your original payment method.
   • Notify them of your tracking number so they can locate the parcel if needed.

Warning: Return shipping costs are your responsibility unless FTMO explicitly stated otherwise in the return authorisation. Do not assume FTMO will pay for your return postage from New Zealand to Prague or Australia.

Pro tip: If an item arrives damaged or not as described, you may be able to claim a fault under the Consumer Guarantees Act and ask FTMO to cover return shipping. Take photographs of any damage and state this in your return request.

Cancelling app store or google play purchases

You enrolled in FTMO via the mobile app and paid through Apple or Google, and now want to cancel or request a refund.

1. Determine which platform processed your payment.
   • Check your email receipt; it will come from either "Apple" or "Google" with the transaction ID.
   • Do not email FTMO first; you must contact the app store directly.
2. For Apple App Store purchases:
   • Go to reportaproblem.apple.com and log in with your Apple ID.
   • Select the FTMO transaction and choose "I would like a refund for this purchase".
   • Select a reason from the list (e.g., "Accidental purchase" or "App did not work as expected").
   • Apple will review and respond within 2-3 business days.
   • If approved, the refund will post to your Apple account balance or card within 5-7 business days.
3. For Google Play purchases:
   • Open Google Play on your mobile device or visit play.google.com and sign in.
   • Go to your account settings, then "Payments and subscriptions" > "Manage purchases".
   • Find the FTMO transaction and tap "Report a problem".
   • Select your reason and submit the complaint.
   • Google will respond within 2-5 business days with a decision.
   • Approved refunds appear within 5-10 business days.
4. If the app store declines, escalate to FTMO.
   • Email support@ftmo.com with a copy of the app store's decline message and your transaction ID.
   • Ask FTMO to verify that the purchase qualifies for a refund under the cooling-off rules.

Warning: Apple and Google have their own refund policies independent of FTMO. They typically offer refunds within 14 days of purchase if the app failed to function or you purchased by mistake. Refunds for change of mind are rare after 14 days, especially for subscriptions.

What happens after you cancel

Cancelling FTMO does not happen instantly. Here is what to expect in the days and weeks after you submit your withdrawal or return.

Account access and demo trading

Once FTMO receives your valid withdrawal notice, they will deactivate your demo trading account within 24-48 hours. You will no longer be able to log in or place trades.

If you have pending trades on the demo account at the time of cancellation, FTMO will close those positions at the next market open. You do not incur losses on a demo account, but any unsettled trades will be flatlined.

Your account data, trading history, and personal profile remain stored on FTMO's servers for compliance and dispute purposes. Deleting your account or requesting data removal is a separate process and does not accelerate your refund.

Refund timeline and payment method

FTMO must issue refunds within 14 days of receiving your withdrawal notice or returned goods. The refund will be credited to your original payment method (credit card, debit card, or bank transfer).

Processing times vary by bank and payment provider. Domestic New Zealand bank transfers typically clear within 1-2 business days. International card refunds may take 5-10 business days, depending on your card issuer and the acquiring bank.

If you do not see the refund after 14 days, contact FTMO immediately with your withdrawal date and order number. Stopee recommends sending a follow-up email if FTMO does not refund within the stated window, as they may have overlooked your request.

Renewal and billing subscriptions

FTMO evaluation fees are one-time charges, not recurring subscriptions. Cancelling your account does not prevent future charges because there are no automatic renewals.

However, if you had enrolled in FTMO's trading signals service or a monthly subscription product, those will continue to charge until you explicitly cancel them. Check your account settings before submitting your main cancellation request.

Will you get a refund?

Whether FTMO refunds your money depends on three factors: the type of purchase, the date of your request, and whether you have used the service.

Evaluation and challenge refunds

You paid for the FTMO Challenge but want out. Your refund eligibility hinges on one thing: have you started demo trading?

If you enrolled fewer than 14 days ago and have not placed a single trade, your cooling-off right is intact. FTMO must refund your Challenge fee in full.

If you have placed at least one demo trade, your cooling-off right is extinguished. FTMO may refund the fee at their discretion, but they are not legally required to do so under the Consumer Guarantees Act.

If you have generated consistent profits and earned a payout, FTMO typically credits your Challenge fee against your funded account balance. You do not receive a cash refund; instead, your fee is recouped through live trading.

Shop refunds and return policies

FTMO's shop applies a 30-day money-back guarantee on physical merchandise. Items must be in original condition, unused, and with all packaging intact.

Digital items and downloadable products sold in the shop are non-returnable once purchased.

If an item is faulty, defective, or arrives damaged, FTMO will refund or replace it regardless of the 30-day window, provided you report the fault within a reasonable time (typically 30 days from delivery).

Refund deductions and exceptions

Pro tip: If FTMO offers a partial refund but you believe you are entitled to a full refund, dispute their decision in writing. Reference the Consumer Guarantees Act 1993 and explain why the goods or service did not meet your legal entitlements. Stopee has seen traders recover full refunds after pushing back on partial offers.

FTMO pricing and evaluation plans

FTMO charges one-time evaluation fees based on your target account size. Below is an overview of current pricing in New Zealand dollars.

These fees are non-refundable once you begin demo trading, unless you withdraw within 14 days and have not placed any trades. Stopee strongly recommends reviewing FTMO's full terms before enrolling, as evaluation rules are strict and many traders do not pass the first stage.

Common mistakes when cancelling FTMO

Cancelling can feel stressful, especially if money is at stake. Here are the pitfalls that cost traders time and refunds.

Placing a trade after changing your mind

You enrol, receive demo access, and then decide within 3 days that you want out. You send a cancellation email. But while you wait for a reply, you place a single trade-just to test the platform.

That trade has killed your cooling-off right. FTMO will now argue that you "consumed the service" and can refuse your refund. This is the most expensive mistake traders make.

If you are thinking about withdrawing, do not touch the demo account. Submit your cancellation first, and only trade if FTMO declines or you change your mind again.

Using live chat instead of email

FTMO's live chat is convenient, but it does not create a written record. If the agent promises a refund verbally but FTMO later denies it, you have no proof.

Always submit withdrawal and refund requests via email. Email is your evidence in a dispute with FTMO or with your bank if you initiate a chargeback.

Not keeping proof of return shipment

You pack up your shop order and mail it back to Prague. But you lose the courier receipt, so when FTMO claims they never received it, you cannot prove it was sent.

Always use tracked shipping. Save your tracking number, take a photo of the parcel, and follow the delivery confirmation online until the package reaches FTMO.

Cancelling via social media

FTMO has social media accounts, but cancellation requests sent via Facebook or Instagram are not legally binding and do not start the 14-day refund clock. FTMO may ignore them entirely.

Submit your cancellation only via the official email address (support@ftmo.com for evaluations, shop@ftmo.com for shop orders). Stopee cannot stress this enough: email is the only method that gives you legal protection.

Missing the 14-day window

You received a shop item 15 days ago and now want to return it. The 14-day cooling-off period has expired, and FTMO may decline your request.

Mark your calendar on the day you receive any FTMO product. If you know there is a chance you will want to cancel, submit your request before day 14 ends. Do not wait until the last minute.

Cancellation checklist

Use this step-by-step checklist to ensure you cancel FTMO correctly and protect your refund claim.

• Verify the date you enrolled or received your order. Count back 14 days to confirm you are still within the cooling-off period.
• If cancelling a Challenge, confirm you have not placed any demo trades. If you have, note the date so you can explain it to FTMO if needed.
• Compose a written cancellation email with your account details, order number, and a clear withdrawal statement.
• Send the email to support@ftmo.com (evaluations) or shop@ftmo.com (physical goods). Do not use live chat, social media, or phone calls.
• Request a read receipt or confirmation from FTMO. Save all email correspondence in a folder or cloud storage.
• If returning shop goods, wait for return instructions from FTMO and confirm who pays for return shipping.
• Pack the goods in original condition with all documentation. Use tracked courier shipping (NZ Post International, DPD, DHL).
• Save your tracking number and courier receipt. Take a photograph of the package before handing it over.
• Mark your calendar for 14 days from the date FTMO received your notice or returned goods. This is the refund deadline.
• If no refund appears by day 14, send a follow-up email to FTMO requesting an update with your original cancellation date.
• If FTMO refuses to refund after 14 days, contact your bank to initiate a dispute or chargeback. Provide all email evidence.
• Keep all receipts, emails, tracking numbers, and screenshots for at least 12 months.

Cancellation contact and address information

FTMO does not maintain a dedicated New Zealand postal address. For physical mail, use the Australian office if urgent, or the Prague headquarters for standard correspondence.

Email (fastest and recommended)

Evaluation and account matters: support@ftmo.com

Shop orders and returns: shop@ftmo.com

General enquiries: info@ftmo.com

Postal addresses

FTMO Prague headquarters (standard queries):

FTMO s.r.o., Purkyňova 99/8, 612 00 Brno, Czech Republic

FTMO Australian office (regional contact for NZ):

Check FTMO's website for the current Australian address, as this may change. Email is always faster and safer than postal mail.

Escalation: commerce commission (New zealand)

If FTMO refuses to refund or disputes your cancellation claim, lodge a complaint with the Commerce Commission.

Commerce Commission, Level 3, 99 The Terrace, Wellington 6011, New Zealand

Website: comcom.govt.nz

Alternatively, contact your bank to initiate a chargeback or dispute on your card or account.

Key takeaways: cancel FTMO with confidence

Cancelling FTMO is straightforward if you act within the legal time limits and leave a written record. Your cooling-off right expires the moment you place your first demo trade or after 14 days, whichever comes first. Shop returns must be initiated within 30 days and physically returned to FTMO within 14 days of your notice.

Always cancel via email to support@ftmo.com or shop@ftmo.com. Use tracked courier shipping for physical returns. Save every receipt, tracking number, and email reply. If FTMO refuses to refund within 14 days, contact your bank or the Commerce Commission to escalate.

Stopee has helped thousands of consumers cancel subscriptions, trading platforms, and digital services and recover refunds they were entitled to. You have strong consumer protections under New Zealand law, and Stopee's guides ensure you know how to use them. Visit Stopee.com to explore additional cancellation guides and consumer rights resources, and remember: you have more power in this situation than you might think.