FundedNext Review

FundedNext Ratings at a Glance

FundedNext Product Offering

Like all prop firms, FundedNext provides traders with a platform to showcase their trading skills, generate consistent profits, manage risk effectively, progress through the verification stages and secure funding. FundedNext offers three different challenge models, each designed to suit various trading styles and objectives, and rewards traders based on their performance. These include the Stellar, Evaluation and Express models. The 15% profit payout during the challenge phase and balance-based drawdown rules are applicable in all these models. However, unlike the Stellar and Express models, the Evaluation model has time limits. Available account sizes range from a minimum of $6,000 to $200,000 maximum for each model, with varying but refundable subscription prices. Additionally, the specific challenge rules and other parameters vary for each model. Here's a comprehensive breakdown of the models. 

The Stellar Model

The Stellar model is FundedNext's most popular model and encompasses the Stellar One-Step and Stellar 2-step challenge account categories, each with different but straightforward rules. As the name implies, the Stellar One-Step challenge account involves a single-phase challenge with simple rules designed to help unleash your trading potential and achieve remarkable results. To qualify for funding via this challenge account, you must hit the 10% profit target without violating the drawdown rules. The maximum daily drawdown (your highest allowable loss in a given day) is 3% of initial or starting balances for that day.

That is, if your initial balance on a given day is $10,000, then 3% of the amount is $300. So you'll violate the maximum daily drawdown rules if your loss exceeds $300 or your balance drops below $9,700 ($10,000 - $300). The maximum drawdown (your highest overall loss during the evaluation) is 6% of your starting equity at the beginning of the challenge. To clarify, if you choose the $15,000 account size, that amount becomes your starting equity and 6% of that amount is $900. You'll violate the rules only if your overall loss during the challenge exceeds $900 or your account drops below $14,100 ($15,000 - $900) at any point. The leverage for this challenge account is 1:30 compared to 1:100 for Stellar Two-Step challenge accounts. 

The Stellar Two-Step challenge account involves a two-phase evaluation with different but realistic profit targets and similar drawdown rules. To pass the Phase 1 challenge and proceed to Phase 2, you must demonstrate an 8% profit target while adhering to the 5% maximum daily loss (or drawdown) and 10% maximum overall loss. In Phase 2, you must hit a 5% profit target while following the drawdown rules. Both One-Step and Two-Step Stellar challenge accounts require a minimum of five individual and separate trading days. However, this needn't be consecutive, and there are no maximum trading days.  

Like all the models, the funded accounts have no minimum trading days. The profit share grows progressively from 15% during the challenge phase through 80% at first withdrawal after funding to an impressive 90%, depending on your performance. The initial payout for One-Step is biweekly, while the Two-Step is monthly. However, subsequent payouts for both steps are biweekly. Additionally, both steps support news trading, weekend holding and uses of EAs. Suppose your account is terminated due to rule violations. In that case, you can pay a discounted fee of 10% of the subscription price to restart the challenge. The table below summarizes the Stellar One-Step and Two-Step challenge models. 

Summary Comparison of One-Step and Two-Step Stellar Model

The Evaluation Model

In this model, your objective is to demonstrate your trading skills through two phases with achievable profit targets. Upon reaching these targets, you'll begin trading on a funded account with an 80% profit split, which can increase to 90% based on your performance. To pass the Phase-1 challenge, you must hit a 10% profit target while maintaining a 5% maximum daily loss and a 10% maximum overall loss. You're expected to meet this target within four trading weeks with at least five trading days. However, if you're in profit while adhering to the rules during this phase but can't reach your goals, you'll get an extra 14 days to complete your challenge. Additionally, FundedNext will offer you unlimited retakes at no additional cost.

In Phase 2, you must hit a 5% profit target within 8 trading weeks with a minimum of 5 trading days while adhering to the same drawdown rules. Upon qualification in Phase 2, you'll get funded with the same amount you traded during the challenge and will receive a refunded subscription fee. The maximum leverage for this model is 1:100. Similar to the Stellar model, it allows for news trading, weekend holding and the use of EAs, thereby accommodating diverse trading strategies. The first payout is monthly, while the subsequent payouts are biweekly. And you can reset your account by paying 90% of the subscription fee (10% reset discount). If you request a reset in Phase 2, you'll receive a new challenge in Phase 1.

The Express Model

In this model, you aim to reach a 25% profit target in a single-phase challenge phase while adhering to the 5% maximum daily drawdown and 10% maximum overall drawdown rules. There's no time limit to reach the target, but you must satisfy at least 10 trading days. Upon hitting the target, you'll begin trading a funded account with a 60% profit split, which can rise to  90% depending on your performance. Both first and subsequent payouts occur monthly. The Express model is divided into Consistency and Non-Consistency challenge accounts. Consistency in this context means that you must maintain a consistent number of trades from week to week. The FundedNext keeps track of these trades, calculates an average and resets it every month. 

Plus, in the Express Model, you can withdraw your 15% profit share of the demo phase even before reaching the profit target. This means that you can get paid during the challenge phase.

Non-consistency traders needn't worry about trading a consistent amount. However, they might have a lower limit of funds to trade. The reason is that, unlike the Consistency that offers full funding (100% of the challenge amount), the Non-Consistency account provides only 25% of the challenge amount, with a maximum funding limit of $100,000. News trading and weekend holding are not supported in the Consistency challenge account. In contrast, only news trading is not supported in the Non-Consistency account. The maximum applicable trading leverage is 1:100 for both types. Reset discounts of 20% of the account price are available if you need an account reset. 

Summary Comparison of the Consistency and Non-Consistency Express Model

Scaling Plan

FundedNext provides a straightforward scaling plan for traders who consistently demonstrate success and adhere to the trading rules. This plan enables eligible traders to access up to $4 million in funding to expand their trading activities. To qualify, you must:

• Achieve a minimum accumulated account growth of 10% over four consecutive months.
• Receive at least two payouts during these four consecutive months.
• Earn profit in your last trading cycle within those four months. 

These eligibility criteria are consistent across the three account models. All FundedNext accounts undergo reviews every four months. Traders that meet the eligibility criteria qualify for a 40% increase in their account balances — up to $4 million maximum scaling. 

Trading Platforms 

FundedNext provides traders access to MT4 and MT5 trading platforms through Incenteco and GrowthNext, respectively, both top-tier trading technology providers. The MT4 platform stands out for its versatility and customizability. It boasts various ease-to-use features, including 9 timeframes, 30+ technical indicators and the ability to use EAs for automated trading. It also has a mobile app with similar features as the desktop platform; the mobile app streamlines on-the-go access. MT5 is an advancement on MT4 with more sophisticated trading features and is ideal for more experienced traders. 

The Trading Terminal is unique in that it allows you to draw on charts (much like TradingView) and even manage your trades while viewing the charts. This is the perfect solution for those who don’t want to jump back and forth between screens all the time, especially as they make critical decisions with their money. 

Educational and Research Resources 

FundedNext provides traders with an excellent selection of educational resources, including an economic calendar that highlights crucial economic updates, upcoming global news, significant global announcements and impactful events that influence the financial market and tradable assets. You can filter information by currency pairs, weekdays, impact levels and personal preferences. 

Staying informed with this calendar is essential before making trades, as it helps avoid potential pitfalls associated with news events. Additionally, FundedNext's blog offers diverse content, from trader Q&As and weekly economic updates to market analysis, forex trading guides and important announcements. You can check the proprietary trading firm for a constructive overview of the company's offerings and setup processes. 

FundedNext offers round-the-clock customers through LiveChat at the bottom of the website. This presents the means of getting immediate assistance from customer service. Although a chatbot typically handles most queries, you can select "Get Support" to chat directly with customer care representatives after providing your name and email. For non-urgent inquiries, you can either fill in the Online Form on the contact page or Send an Email directly. However, the FAQ page provides a more comprehensive solution for accessing support and finding answers to your questions without contacting customer service representatives. 

FundedNext maintains an active presence on major instant messaging and social media platforms, including Facebook, YouTube, Instagram, Twitter, Messenger, Telegram and Discord channels. So many platforms mean that customers can count on a comfortable environment to interact with like-minded traders, access exclusive trading resources, economic news updates and fundamentals and build connections. 

Additionally, FundedNext assigns a dedicated account manager to each account, ensuring that queries are addressed promptly. This is especially beneficial for beginners who may require additional support as they get started. FundedNext has an excellent rating of 4.7/5 from over 7,000 reviewers on Trustpilot. Reviewer comments were overwhelmingly positive, with many praising the company for its impressive trading conditions or service offerings and responsive support team.

FundedNext is a proprietary trading firm and not a brokerage, so it doesn't require regulation or licensing by financial regulators to operate. Top-tier trading technology providers, including GrowthNext (MT5) and Incenteco (MT4), prov

ide the company's trading platforms. In addition, the company partners with multiple major liquidity providers to offer a trading environment that closely simulates live market conditions. 

The company strictly adheres to Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures to verify customers' identities, mitigating the risk of identity fraud and illicit activities. The company employs robust encryption protocols, effectively eliminating possible unauthorized access to customers' data in transit and at rest. While FundedNext may collect your personally identifiable information during registration and account setup, it is solely used to enhance service delivery and marketing. The company does not sell or share this information with third parties unless consent is given or required by law. You can review the Privacy Policies for further clarification.

FundedNext offers an affordable and transparent fee structure. The pricing varies for each model and account size, ranging from $49 for the $6,000 account sizes (for the Evaluation and Consistency Express model) to a maximum of $999. Additionally, the pricing varies for both the Swap and Swap-free accounts.  

However, all fees are refundable during your first payout. Available payment methods include credit/debit cards, bank transfers, PerfectMoney and cryptocurrencies like BTC, ETH, DOGE and SOL. You can also withdraw funds using the same methods. The table below shows the various pricing for different models and account sizes. 

Refundable subscription fees for the Swap Account

Refundable subscription fees for the Swap Free Account

FundedNext offers raw spread and low commission, including $3 per round lot for forex pairs and commodities (gold, silver and oil) and $0 per round lot for indices and other commodities. FundedNext's competitive leverage options enable traders to maximize opportunities while minimizing risks. These leverages vary for different models and may differ for the challenge and the funded accounts in a specific model. In the Evaluation and Express models, the maximum leverage for forex pairs is 1:100. For commodities and indices, it is 1:50. These leverages remain the same for both the challenge and funded accounts, except for indices, where the maximum leverage for the funded account is 1:25. 

In the Stellar One-Step model, the maximum leverage for forex pairs is 1:30; for indices, it's 1:5, and for commodities, it's 1:10. These leverages are consistent for both the challenge and funded accounts. For the Stellar Two-Step model, the maximum leverage for forex pairs is 1:100; for indices, it's 1:20; for commodities, it is 1:40. 

These leverages also remain the same for both the challenge and funded accounts. You can earn up to 15% commission when you register on the FundedNext affiliate program and successfully invite your friends or family to join using your referral links. Besides these commissions, you'll also have access to unique coupon codes, monthly rewards and customized deal options. And the best part is you needn't have trading experience to become an affiliate. 

FundedNext is renowned for its simplicity, streamlined accessibility and excellent user experience. There's no lengthy or complicated onboarding process, and traders don't have to deal with excessive or confusing trading rules during the challenge phase. You can access your account within seconds of signing up and start trading immediately. 

The firm accommodates and supports diverse trading styles or strategies, including intraday trading, scalping and swing trading, copy trading, news trading and the use of EAs, which enhances the user experience. Decent tradable assets are available, commissions are generously low and leverages are competitive. Traders can choose between two trading platforms — MT4/MT5 — and round-the-clock customer support is available to provide needed assistance. Benzinga considers FundedNext highly recommendable. 

FundedNext vs. Competitors

FundedNext has many competitors, including FX2 Funding, Funded Traders, MyForexFunds and FTMO. Each of these prop firms streamlines fund accessibility for undercapitalized prop traders, enabling them to trade the forex market and other instruments. However, FundedNext beats these firms in various aspects. The company is one of the rare prop firms to offer a payout during the challenge phase, and its drawdown rules are balanced-based.

In balance-based drawdown, the drawdown is calculated based on your account balance, including any open trades, at the beginning of the trading day. So, suppose you have trades running when a new trading day starts. In that case, your balance at that time will be considered for daily drawdown calculation, not your equity. Additionally, FundedNext offers raw-tight spreads, competitive leverage options and one of the lowest commissions in the industry. Its multiple choice of models, account sizes and support for various strategies accommodate diverse traders. 

FundedNext is one of the best prop trading firms, thanks to its flexible and straightforward challenge models, including Stellar, Evaluation and Express. These models offer traders realistic profit targets and the opportunity to earn high payouts without complex rules. FundedNext provides excellent support, educational resources and an economic calendar to help traders succeed. 

The firm makes accessing funded accounts simple, requiring just a refundable one-time fee and the trader's ability to manage risk while maximizing profit during the challenge phase. You can access up to $4 million worth of funding via scaling with up to 90% payout. With a focus on simplicity and potential for traders, FundedNext is a solid choice for those seeking fast funding access and willing to follow simple trading rules.

Frequently Asked Questions