I'm using a Reolink camera511w

The current license I've is:
- Image
- 640x480
- 1 image/3s
- Continuos

I set up the FTP in Reolink with the following set up
Encode = Fluent 640x480
Frame rate = 4
Pictures only = 2 seconds and also tried with 15 seconds

I'm getting a "Waiting for new data... " after a few second 
Also the size of the images uplaoded are HR 2560x1920 even if they are set up as 640x480

As documented in our Setup Guide document for Reolink IP cameras:

https://www.cameraftp.com/CameraFTP/Support/ReoLink_RLC-410_411_420_422_4MP_CloudRecording.aspx#Configure_Reolink_Camera_Video_Profile_Image_Video_Recording_Options 

Reolink IP cameras are optimized for video recording. They support image recording, but you cannot change the upload frequency (image/second). We are not sure about the default upload frequency, it seems to be 1 image per 2-5 seconds. 

The "Encode" tab in your screenshot is usually for video parameters. The frame rate, bit rate, audio and H.264 profile are not ralated with image recording. The video resolution parameter might be used for image recording.  Reolink IP cameras don't allow selecting a stream type to upload; the default stream type to upload is Clear Stream. In your above screenshot, you can try to change the Stream Type to Clear Stream, and change the resolution to match your CameraFTP service plan. 

For typical home/business monitoring, video recording is better. You get higher frame rate at a lower price. Another option is to use CameraFTP VSS software, which requires a PC. CameraFTP VSS software can use a PC as a CCTV DVR system. It can display live cameras on your computer screen and upload image or video to the cloud.

About "Waiting for new data", it can happen as follows:

(1) If you play back footage at a higher frame rate than what the camera uploads. For example, if your camera uploads at 1 image/2 seconds, the player is playing at 1 image/s, then it will quickly reach the end and wait for more data from your camera.

(2) if your camera is configured for motion recording and if there is no motion, then there is no footage to play. So the player will wait for more data from the camera.

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