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

FundedNext provides two distinct funding models. You have the option of using a two-step evaluation model or a one-step express model.

The evaluation model is a two-part challenge that every trader must complete before acquiring a real funded account. You can begin with a balance of $15,000, $25,000, $50,000, $100,000, or $200,000. In this model, your aim will be to demonstrate your trading abilities in two phases with realistic profit targets. When you reach your goals, you will be able to trade on FundedNext’s funded account with an 80% profit share. Depending on your success, the profit split percentage can be increased all the way up to 90%.

FundedNext offers two types of express model accounts, which include Consistency Accounts and Non-Consistency Accounts. In a consistency account, you can begin with a balance of $15,000, $25,000, $50,000, $100,000, or $200,000, while a Non-Consistency Account doesn’t have a $200,000 account balance.

Overall evaluation and also express model accounts have the same rules. The difference lies only in the minimum number of trading days, the evaluation model is 5 days, while the express model is 10 days.

The Consistency Account allows for a maximum challenge amount of $200K and offers 100% real funding of the challenge amount. To be eligible for funding, the account must meet the 10-day minimum trading requirement and follow the consistency rule.

The Non-Consistency Account has a lower maximum challenge amount of $100K and offers only 25% of the challenge amount as real funding. The minimum trading days and the consistency rule requirements remain the same as the Consistency Account.

If you feel ready for a bigger balance account, you may apply for their scaling plan. They will increase your account balance if you’re consistent with your plan and risk management. The scaling plan is available to traders who will be consistent throughout the time and does not violate any rules. The requirements to be eligible for the scaling plan are as follows:

Every four months, in a real account, they review the scale-up plan. You need to achieve a cumulative account increase of at least 10% in a real account over four consecutive months. You need to have made at least two payouts at the end of these four consecutive months, and the last month should have resulted in a profit.

Traders who qualify will get a major 40% boost to their account balance, up to a maximum of 4 million dollars. A huge $4 million scaling plan is probably one of the biggest accounts capital you can get in a prop firm. If you are a successful trader, there is no reason not to strive to obtain that huge capital.

Fees

Like most prop firms, you have to pay a one-time fee to participate in the challenge. FundedNext has developed 2 different models. In both models, you will be rewarded with 15% of your profit based on your performance, and this profit will accrue as early as the evaluation phase.

For the evaluation model, you pay for the challenge costs from $99 for a $15,000 funded account to $999 for a $200,000 funded account. This model aims to test your trading skills in two phases. After you hit your goals, you’ll be able to trade on FundedNext’s account and keep 80% of the profits. The profit split rate might go as high as 90%, depending on your results.

The other model is the express model, which is a 1 step challenge. For the consistency account, the fee is the same as the evaluation model, while for the non-consistency express model, the fee starts from $119 for a $15,000 funded account to $699 for a $100,000 funded account. In this model, you will have unlimited time to reach a 25% profit target. Once the goal is reached, you may begin trading on FundedNext’s account and keep 60% of the profits. It will increase to 75% after the first withdrawal and then to 90% after the second withdrawal.

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