FundedNext Review

FundedNext Review

FundedNext is a new prop firm, incorporated on the 18th of March, 2022. But they do have a reputable review on Trustpilot with a 4.5/5 rating. Their office address is clear, and although they are new, there is a good amount of information about them if you are interested in getting funding from FundedNext.

Don’t forget to use our exclusive discount code FT5. This is the only FundedNext discount code available, and we have it exclusively. But you have to be quick since it will be valid only until February 5.

About FundedNext

FundedNext is an international proprietary platform, with registered and operational offices in multiple countries including the UAE, USA, UK, and Bangladesh. Its headquarter is located in the United Arab Emirates, Office no. 7, AI Robotics HUB, C1 Building, AFZ, Ajman, UAE

We checked their address location and found that they are owned by “NEXT Ventures”, a digital business group that is based in Bangladesh and has five global registered offices in numerous countries, including the United States of America, the United Arab Emirates, and the United Kingdom.

They use “Eightcap” as their broker to deliver the best experience for their consumers. Eightcap is a well-known broker that has been in business since 2009. They are ASIC regulated, and they provide the lowest spreads using the MT4 trading platform, as well as a rock-solid, dependable infrastructure complemented with transparent and personalized service.

Funding Program Options

Stellar Package

The Stellar Package is the most popular option among traders. It offers account sizes ranging from $6,000 to $200,000, giving traders flexibility to start with the balance that fits their goals. The challenge consists of two phases, with profit targets of 8% in Phase 1 and 5% in Phase 2. Traders need to maintain a maximum daily loss of 5% and an overall loss limit of 10%. One standout feature is that you can earn up to 95% of the profit split, and even start earning a 15% profit share during the challenge phase. With a minimum of 5 trading days and no time limits, it’s a flexible option for traders who also want the ability to engage in news trading.

Stellar Lite Package

The Stellar Lite Package is a more affordable option, ideal for new or upcoming traders. You can start with account sizes from $5,000 to $100,000. The profit targets are slightly lower than the Stellar Package, with 8% for Phase 1 and 4% for Phase 2. The daily loss limit is 4%, and the overall loss is capped at 8%. Just like the Stellar Package, you can earn up to 95% of the profit split. The first reward is available after 21 days, making it a great option for traders looking for a low-cost entry into prop trading, while still enjoying news trading capabilities.

Evaluation Package

The Evaluation Package is perfect for traders who want the option of free retakes if they don’t meet the initial targets. Account sizes range from $6,000 to $200,000, with profit targets of 10% in Phase 1 and 5% in Phase 2. The daily loss limit is set at 5%, with an overall loss limit of 10%. Just like the other packages, traders can earn up to 95% of the profit split, starting with a 15% share during the challenge phase. This package requires at least 5 trading days, and traders get monthly rewards. News trading is also allowed, giving you flexibility in your trading strategy.

Express Package

The Express Package is designed for traders who want to quickly see results. The challenge requires a 25% profit target, and traders can start with account sizes from $6,000 to $200,000. The daily and overall loss limits are the same as the other packages, with 5% and 10% respectively. You can still earn up to 95% profit split, and you’ll also receive 15% of the profit during the challenge phase. The minimum trading days required are 10, and traders can expect their first reward on a monthly basis. However, unlike the other packages, news trading is not allowed in this one.

Fees

FundedNext has a straightforward fee structure for its various account types. The fees vary depending on the plan you choose, and they are paid as a one-time entry fee to start the challenge. Here’s a breakdown of the fees for each plan:

• Stellar Package: Fees range from $59 for a $6,000 account up to $999 for a $200,000 account.

• Stellar Lite Package: This more affordable option comes with fees starting at $32 for a $5,000 account and up to $399 for a $100,000 account.

• Evaluation Package: The fees for the Evaluation Package range from $49 for a $6,000 account up to $999 for a $200,000 account. This package includes the benefit of free retakes if needed.

• Express Package: Fees start from $49 for a $6,000 account and go up to $999 for a $200,000 account. The Express Package allows traders to quickly get funded with a higher profit target of 25%.

These fees grant you access to FundedNext’s funded accounts, where you can earn up to a 95% profit split. Each package allows traders to begin earning as early as the challenge phase, with a 15% profit share.

Tradable Assets

It’s great that they place no restrictions on the instruments or position sizes you can trade. You can trade all the instruments and assets accessible on your trading platforms, such as Forex, commodities, indices, stocks, and crypto.

Restrictions

FundedNext doesn’t have many restrictions, which is great news for traders. You may trade with 1:100 leverage on MetaTrader 4, as well as trade during news (on demo stages) and keep trades overnight and on weekends.

An expert advisor or bot is permitted. Your EA or Bot can be used to facilitate your trading style; however, copy trading is not permitted. A similar trade from someone else will be considered a rule violation.

For hedging, you can trade only one hedged position at a time. Hedging using multiple accounts is not allowed as it does not reflect a proper trading strategy. For example, if you have two accounts, then you are not allowed to place hedged entries between them.

Challenge

The evaluation model is a 2 step challenge. Step-one has a profit objective of 10% without exceeding the daily drawdown of 5% or the total drawdown of 10%. You should also keep in mind that your trading time for step one is 30 days, while you must trade for a minimum of 10 days. In step one of the challenge, you are entitled to a 15% profit share.

Step two has a profit objective of 5% without exceeding the daily drawdown of 5% or the total drawdown of 10%. You should also keep in mind that your trading time for phase two is 60 days, while you must trade for a minimum of 10 days. In step two of the challenge, you are eligible for a 15% profit share.

You will receive a funded account of the same amount as your evaluation after finishing both evaluation processes. You will also be eligible for profit splits starting at 80% and growing to 90%.

The express model has a profit target of 25% without exceeding the daily drawdown of 5% or the total drawdown of 10%. You should also keep in mind that there are no maximum trading days restrictions; the only time requirement is that you trade for at least 10 days. You are entitled to a 15% profit share on the challenge.

In Conclusion

When it comes to prop firms, FundedNext is, without a doubt, one of the most reliable and trustworthy options out there. Being backed by NEXT Ventures guarantees their longevity.

Similar to most prop firms, you must be able to pass their challenge to be able to get funding. But if you want to get funding faster than most 2-step challenges, then the fastest way is from their Express model, which is only 1 step challenge. A 25% profit target might be high for some traders, but you actually have unlimited time to reach this, which is a plus. But if you’ve made it through the first two stages, you’ll be a FundedNext trader with access to real money and no profit target on your trading. It would be nice to see them offering instant funding as well. 

For FundedNext, the scaling plan they offer is very enticing. You can get up to  $4,000,000 of funding, which is one of the largest we’ve ever seen. As long as you are a profitable trader, then you can keep applying for scaling until you reach that huge $ 4 million dollar. You really should try their scaling options if you are a good and skilled trader and have confidence. All qualified traders will see their account balances boost by 40%. If you are looking to trade long-term, then there is no reason not to try them.

FundedNext Coupon Code

If you are interested in joining FundedNext, be sure to use our exclusive coupon code for a 5% discount that you won’t find anywhere else: FT5

*Valid until February 5