FundedNext Review

FundedNext is a prop firm that provides funding for aspiring forex traders up to $200,000 with a good choice of funding programs. You can get a 90% share of the profits and scale your funded account all the way to $4million.

FundedNext Review

Summary

FundedNext is a Proprietary Trading Firm that aims to support traders up to $200,000 in order to help them develop a sound strategy. To potentially increase your profits, they offer trader-friendly terms and conditions.

Traders will be able to get Profit Share from the evaluation phase through FundedNext. They are the only prop firm to offer a 15% profit share from the start to reward promising traders for their skills and hard work. For all the aggressive traders, they will offer a lucrative scale-up strategy that foes up to an impressive $4,000,000.

FundedNext Website

With this prop firm, you’ll have the opportunity to receive up to 90% of the profits. Consistent traders with solid trading skills are welcome here.

FundedNext has Its registered and operational offices in the UAE, USA, and South-East Asia. The ideal partner for you is what FundedNext aspires to be. Because of this, they gave every part of a trader’s experience with them serious consideration. They have some of the most versatile trading conditions amongst any other prop trading firm.

Pros
  • Profit split of 15% for evaluation stages
  • Keep up to 90% of the profits
  • Possibility to scale up to $4M account balance
  • Allowed to merge accounts
  • Expert advisors (EAs) and indicators allowed
  • Overnight, weekend and news trading allowed
  • Intuitive MetaTrader platforms
  • Leverage goes up to 1:100
  • Unlimited evaluation free retries
  • A large variety of trading instruments (forex pairs, commodities, indices)
Cons
  • Copy trading from other traders not allowed
  • Consistency rule for express accounts
  • Minimum trading days depending on package

FundedNext Review

Programs

In order to start your journey with FundedNext, you need to select the funding model that you would like to use. Once setup, you can begin trading and show them that you can consistently make profit on the account whilst staying within the rules. If you are successful, you can become a certified funded trader which gives you access to a funded account and generous profit share that can go all the way up to 90%.

FundedNext Process
FundedNext Process

Funding Models

FundedNext want to make trading comfortable for all of their traders. They have developed two distinct models as a result. In both models, you will be rewarded for your performance with a 15% profit even from the assessment phase. They advise you to review both models and choose a package that matches your trading style.

Evaluation Phase

With two phases and quite attainable profit targets, your objective in this model will be to demonstrate your trading prowess. You will begin trading on FundedNext’s funded account with an 80% profit share once you reach the set goals. Depending on your performance, the profit split rate could be raised all the way to 95%.

FundedNext Prop Firm Challenges
FundedNext Prop Firm Challenges

Evaluation Phase Rules

5% Daily Drawdown

5% of $100,000 is $5000 if your initial account balance is $100,000. If the (running + closed) loss reaches $5000 at any time throughout the day, it will be regarded as a violation of the “5% Daily Drawdown” regulation.

10% Overall Drawdown

Traders are allowed a maximum of 10% loss from the initial balance they start with. E.g. 10% of $100,000 equals $10,000 if your initial account balance is $100,000. If your account equity falls below $90,000 at any time during your assessment, you have broken the “10% Overall Loss” criterion. Your “10% Overall Loss” equity number will stay at $90,000 even if your account balance eventually rises to $110,000. Your entire room for loss will be $20,000 at $110,000.

Profit Target (8% to 10%)

The evaluation model consists of two evaluation steps. You must achieve a 8% profit target in phase 1 without breaking any regulations during 4 trading weeks. Phase 2 can begin once phase 1 has been successfully completed. In phase 2, you merely have to achieve a 5% profit target over the course of eight trading weeks without breaking any regulations.

Bi-Weekly Payout

Your first profit in your funded account will be eligible for withdrawal after 4 trading weeks, and following the second payment, you will be able to request a withdrawal every 2 trading weeks.

Evaluation Phase Benefits

Up to $200,000 in Funds

In the Evaluation model, they are providing you with up to $200,000 in funding to boost your chances of profitability.

15% Profit Share

Interestingly, 15% of everything you earn at each assessment phase is yours. As a result, even while trading on the demo account, you begin to receive a profit share as compensation which is something that you probably won’t find with any other prop firm.

Weekend Trading

You don’t need to miss any significant market changes. You can hold your trade for as long as you choose, even on the weekends. This is the great option to have regardless of your trading style (scalp, intraday, or swing).

Free Retakes

If you are in profit but, despite following the rules, are unable to reach your aim during a trading cycle, don’t worry. You are entitled to an unlimited number of free retakes from them. All you need to do is make money without breaking any laws.

Profit Share up to 95%

Your profit share will rise to 95% after you qualify for the scale-up plan.

Any Trading Strategy

You can use any trading style or technique without limitations. You are allowed to employ your own expert advisors (EAs), hedge positions, or trade the news on challenge phases.

Express Model

In this trading model, you want to achieve an unrestricted, aggressive profit target. Your goal in this model will be to hit 25% profit target with no time limit. Depending on your performance, the profit split rate could be raised all the way to 95%.

Express Model Rules

5% Daily Loss

A maximum 5% drawdown is permitted for traders within a single trading day. E.g. 5% of $100,000 is $5000 if your initial account balance is $100,000. If the (running + closed) loss reaches $5000 at any time throughout the day, it will be regarded as a violation of the “5% Daily Drawdown” regulation.

10% Overall Loss

A maximum 10% loss from the opening balance is permitted for traders. For instance, 10% of $100,000 is $10,000, therefore your beginning account balance is $100,000. If your account equity falls below $90,000 at any time during your assessment, you have broken the “10% Overall Loss” criterion.

25% Profit Target

To get your real account financed, grow your demo account to the 25% profit target. Profit sharing of 15% is available while trading on a demo account.

10 Trading Days/4 Weeks

Traders must take at least ten days off each month. You can still get in touch with them if a special circumstance arises that makes this impossible for a specific trader or trading style. The staff will evaluate the circumstance and act accordingly.

Express Model Benefits

One Step Assessment Process

To gain access to real money, you must only prove yourself once. All you have to do is obtain actual funding and reach the growth target at your own speed. It is as simple as that!

15% Profit Share

15% of whatever monthly earnings you make throughout the assessment phase is yours. As a result, even while trading on the demo account, you begin to receive a profit share as compensation.

Realistic Profit Targets

Performance improves as constraints are reduced. In light of this, they have made the choice to request a 25% growth target. You can trade at your own speed without feeling any pressure to meet unrealistic goals.

No Time Limits

Enjoy complete independence while trading. If you choose the express model, you can take as much time as you need to accomplish your goal without worrying about running out of time.

95% Profit Sharing

When your account is financed, as you make successful withdrawals, your profit share will rise until it reaches 95%.

Fast Funding

In as little as 10 trading days after signing up, you can access the real funded account if you meet the account growth target during the assessment phase.

Express Consistency Model

A trader must achieve a profit target of 25% during the Consistency Express model evaluation phase without going above the 5% daily maximum or 10% maximum loss limits. You can take as much time as you want because there is no maximum trading day requirement.

You must, however, trade for at least 10 trading days each month during your trading time. In order to improve your trading habits and ensure that you are making profits consistently up until you reach your profit target, you must adhere to the consistency rule while trading.

You are given a funded account with no profit targets after finishing the evaluation phase of your Consistency Express model. You only need to adhere to the 10% maximum loss and 5% daily maximum loss restrictions. Keep in mind that even after receiving funding, you must still adhere to their consistency requirement.

Additionally, each monthly trading cycle must include a minimum of 10 trading days for you to trade. Along with your initial payout, you also get a 15% profit share based on the revenue you generate throughout the evaluation phase. Your profit split can reach an impressive 95% if you are trading well.

Express Consistency Model

Express Non-consistency Model

A trader must achieve a profit target of 25% during the Non-consistency Express model evaluation phase without exceeding the 5% daily maximum profit or 10% maximum loss limits. You can take as much time as you want because there is no maximum trading day requirement.

You must, however, trade for at least 10 trading days each month during your trading time. The consistency criterion is not applicable to this account type. Therefore, you can trade nearly without restrictions in order to meet your profit target.

When you complete the evaluation phase for your Non-consistency Express model, you are given a funded account size equal to 25% of the challenge amount in the absence of profit targets. This indicates that you will earn a $25,000 funded account if you pass the $100,000 Non-consistency Express model evaluation. You only need to adhere to the 10% maximum loss and 5% daily maximum loss restrictions.

The consistency rule is not applicable to this account type and thus you can trade nearly without restrictions. However, take note that each monthly trading cycle must include a minimum of 10 trading days for you to trade.

Along with your initial payout, you also get a 15% profit share based on the revenue you generate throughout the evaluation phase. Your profit split can rise to 95% following consistent trading.

Express Non-consistency Model

FundedNext Review

Conditions

Accounts

You won’t have to wait for hours to access your trading account with FundedNext. After completing the registration process, FundedNext Traders have immediate access to their trading account.

Profit Targets

The intention is to let you fly rather than to keep you under certain bounds. Since there are no unrealistic profit targets in the supported trader programme, you are free to make as much money as you like for both the prop firm and yourself.

Payouts

Following four trading weeks, you’ll get your first reward, and then you’ll get them every two trading weeks after that (14 days). The cycle will begin as soon as you execute the initial trade on your real account and continue for each succeeding cycle.

FundedNext Features

Trading Strategies

Swing trading, intraday trading, scalping, and other trading styles and tactics are all welcome at FundedNext. Additionally, traders are free to make use of other trading tools like trade copiers and expert advisors for automated trading.

However, using any of the following strategies is strictly forbidden:

  • Use of Emulators
  • High-Frequency Trading
  • Reverse Arbitrage Trading
  • Hedge Arbitrage Trading
  • Latency Arbitrage Trading
  • Tick Scalping
  • Grid trading 
  • One-sided Betting
  • Copying trades from other traders

If the use of any of these strategies is found in your account, it will be considered a violation of the rules, and FundedNext will terminate the account without any warning.

Leverage

All of the FundedNext trading accounts have a leverage of 1:100. Because of this, traders can employ suitable lot sizes even when utilising modest stop losses. As a result, trading with their accounts is a smooth and flexible experience overall.

Scaling

Traders who are dependable over the long term and adhere to all guidelines are eligible for the scaling plan. The requirements to be eligible for the scaling plan are as follows:

In a genuine account, you must achieve at least 10% account growth over a period of four months. You must make at least two rewards throughout the course of these four consecutive months, and your last month must be profitable.

If you remain consistent and profitable, you will be eligible for a 40% increase in account balance every 4 months, all the way up to $4 million.

Overall Drawdown

10% of your starting account balance can be your overall maximum loss allowance. As a result, throughout the course of your trading career, your account balance or equity cannot go below 90% of the opening balance. It suggests that in order to comply with the rules, your account balance or equity should always be greater than 90% of the starting value.

Your maximum loss cap, for instance, is $10,000 for an account with $100,000. You won’t go against the overall drawdown as long as your balance or equity, whichever is lesser, is greater than $90,000.

Keep in mind that unlike daily drawdown, overall drawdown does not reset.

Daily Drawdown

For all subscriptions, the daily drawdown is 5% of your initial account balance. This suggests that this amount shouldn’t be greater than 5% of your opening account balance on that particular day.

The maximum daily loss limit, for instance, is $5,000 for a $100,000 account, and you are not permitted to lose more than $5,000 in a single day. Let’s say your closed trades cost you a total of $3000 in losses. You are not permitted to lose more than $2,000 in such a scenario, including floating losses. Keep in mind that this computation takes swap and commission rates into account. You will be in violation if you lose more than $2,000 in a single transaction.

In a similar vein, suppose you earned $5,000 in a single day of profit. In this scenario, you are permitted to lose a total of $10,000 (your profit plus your daily loss cap of $5,000). Losing more than $10,000 will be seen as a violation, whether the position is open or closed.

Let’s examine another situation. Assume that you suffered a loss of $3,000 in a single day, just as in the prior example. Then you enter a trade that is now running at a floating loss of -$2500 but turns positive $500 when you close it. If this happens, based on our estimates, you will have gone over your daily loss cap as soon as your loss goes over $5000.

You should also be aware that, according to server time, your daily loss cap will be reset at midnight. Consider a scenario in which you concluded a transaction with a $2000 profit and a trade that is now running at a $6,000 floating loss. Given that your current daily loss is +$2000 – $6000= -$4000, you haven’t yet breached your daily drawdown for the day. However, if you continue to hold this one transaction with a floating loss of $6,000 after midnight, you will go over your $5000 daily loss cap because a new day will start at midnight and you will have lost more than that amount.

FundedNext Review

Features

Platforms

You are allowed to trade on the popular MT4 platform, which is offered by the ASIC-licensed broker EightCap, using your FundedNext account. MetaTrader 4 is very user-friendly with a fully customisable interface. It if loaded with plenty of powerful trading tools for conducting in-depth market analysis and making informed trade decisions. However, it would be great to see them implement the newer MT5 platform which expands further on the already robust functionality of MT4.

MetaTrader 4 & MetaTrader 5 Platforms
MetaTrader 4 & MetaTrader 5 Platforms

Instruments

FundedNext provide a large selection of assets with extremely cheap commissions and super-raw spreads. Due to this, traders can trade major and exotic currency pairs, experiment with scalping strategies, and much more.

Resources

With FundedNext, you can get access to all the premium trading resources, economic news updates and fundamentals, the top trading podcasts, and share your extracurricular activities. You can socialise with other traders who share your interests and build genuine connections with likeminded traders.

Maximum capital$4,000,000
Profit splitUp to 95%
ScalingYes
News tradingYes
Weekend tradingYes
Automated tradingYes
Free trialNo
Maximum leverage1:100
FundedNext Features

FundedNext Review

Conclusion

Overall, FundedNext is one of the more reliable proprietary trading companies on the market, giving traders the option to select between the express and evaluation methods. Additionally, their trade regulations are fairly lenient. Phases one and two of the Evaluation model accounts can be used to trade during the news, hold deals over the weekend, and hold trades overnight on both types of accounts.

Express model accounts are one-phase evaluation challenges that must be finished in order to become funded and qualify for profit splits. Before being financed, FundedNext requires traders to meet a profit target of 25% and abide by the 10% maximum loss and 5% daily loss restrictions.

Depending on the kind of trader you are, you can also select between Consistency and Non-consistency Express model accounts. There are no maximum trading day restrictions, so you can build up earnings gradually and take as much time as you need. You must trade for a minimum of five calendar days. With express model accounts, you can scale your accounts and receive a profit split up to a very generous 95%.

Evaluation model accounts are a two-phase, industry-standard evaluation challenge that must be finished in order to be funded and qualify for profit splits. Before becoming funded, FundedNext requires traders to meet profit targets of 10% in phase one and 5% in phase two, which are reasonable trading goals given that you must adhere to a 5% daily maximum and 10% maximum loss regulation. With assessment programmes, you can scale your accounts and make profit splits up to 95%.

To any trader searching for a reliable prop firm with clear regulations and trading goals, FundedNext can be a great choice. Despite being among one of the newer prop firms in the business, they have established themselves as reliable and a secure option for anyone trying to get funds from them.

Additionally, they provide traders of all different strategies and experience levels with exceptional terms. After taking into account all FundedNext offers to offer, it is clear that they are now one of the top proprietary trading companies in the sector.

8.7Expert Score
FundedNext Rating

FundedNext is a prop firm that provides funding for aspiring forex traders up to $200,000 with a good choice of funding programs. You can get a 95% share of the profits and scale your funded account all the way to $4million.

Programs
9
Conditions
8.5
Features
8.5

FundedNext Review

FAQ

What Capital Can I Get As A FundedNext Trader?

You can begin with a balance of 6k, 15k, 25k, 50k, 100k, or 200k. If you want to trade with a higher balance account, you can apply. If you stick to your plan and practise risk management, FundedNext will increase the balance of your account.

Am I Responsible For The Loss On The Account?

No. Your freedom to trade is what Fundednext wants to guarantee. They will accept blame for the loss to reduce your stress.

What Leverage Do They Offer?

For both of the FundedNext models, you will get 1:100 leverage.

What Happens If You Do Not Trade For Some Time?

You can temporarily pause your account if you need to take a break without fear of having your account terminated. However, it’s crucial to let your account manager know in advance because neglecting to do so will be viewed as a violation.

How Do I Withdraw My Profits?

You can withdraw your winnings with just one click. At the conclusion of the trading cycle, confirm that you are profitable before submitting a withdrawal request through your client site. Your profit portion will be distributed as quickly as possible from their end.

How Often Will I Be Paid?

In the evaluation model, you will get your first compensation after four trading weeks (on a monthly basis); after that, you will get payouts every two trading weeks (14 days). A payout withdrawal request is easily made from your client dashboard. After each four-week (monthly) trading cycle, FundedNext will give you profit shares for both consistency and non-consistency express accounts.

Am I Allowed To Merge My Accounts In FundedNext?

Yes, provided that you meet the requirements outlined below and merge up to $300k of your real account.

-The same model must be used for both accounts. You could only merge express non-consistency accounts, for instance, with other express non-consistency accounts. It is not permitted to blend between various models.

-Merging is not permitted when a trade is open or in the middle of the trading cycle. Ensure that your account’s trading cycle is complete and that there are no open deals before merging. An account cannot be combined that has a negative balance.

-A smaller payout will be applied if you desire to merge with any scale-up qualifying account.

-After merging, you must satisfy all scale-up requirements in order to apply for scale-up.

Which Platforms Can I Use For My Trading?

You are allowed to trade on the popular MT4/MT5 platforms, which are some of the most popular and user-friendly trading platforms.

May I Start Again If I Violate Any Rules?

Yes. Even the best approach cannot guarantee success in the currency market. So they will make sure you have plenty of opportunities.

Is Hedging Allowed?

Hedging is allowed, yes. However, using multiple accounts for hedging is not permitted because it does not represent an appropriate trading strategy. For instance, you are not permitted to make hedged entries between two accounts.

Is It Mandatory To Use Stop Loss For All Trades?

There is no restriction on using stop-loss (SL) on your every trade, so you are free to trade without using it. 

Is There A Minimum / Maximum Lot Size?

There are no lot size restrictions on FundedNext. You are free to trade using whichever lot size you prefer.

When Will I Get My Registration Fee Back?

With your first payout from your real account, your registration money will be refunded. They will only reimburse you for the most recent account setup expenses if you need to reset it in the middle of the process.

What Is The Refund Policy?

In the event that you do not begin trading within 7 days of registering, you may ask for a refund. Keep in mind that once the trader begins using the account for trading, the fees are not refundable.

How Many Accounts Can I Have?

You can receive up to $400,000 from FundedNext. This funding threshold can be met by a single programme or by combining programmes from the Express and Evaluation categories.

Are There Any Hidden Fees?

No, there are no additional or secret fees. With FundedNext, there are absolutely no ongoing costs. Furthermore, after you become a FundedNext Crown trader, your costs will be paid to you.
FundedNext Review
FundedNext Review
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