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FundedNext Reviews And In-Depth Analysis

FundedNext

Rating: 4.8

REVIEW SUMMARY

FundedNext is a Forex prop firm, located in Ajman, UAE. It was founded in 2022. Read the full FundedNext review

FEATURES

Instruments: Forex, Indices, Metals, Commodities, Crypto.

Max balance: $4,000,000

Profit split: up to 90%

Cost: from $32

Platforms: MetaTrader 4, MetaTrader 5, cTrader

PROS & CONS

What I like:

  • You get a profit share right from the challenge phase, even before you get funded.
  • The drawdown calculation is based on the balance, and not on open trades.
  • No time limit to end the challenge. You can relax and take your time to achieve the target.
  • You can get a profit split of up to 95% which is very rare.
  • Up to 1:100 leverage on most accounts.

What could be improved:

  • The Stellar 1-step account only gives you up to 1:30 leverage.

FundedNext is a prop trading firm with offices located in the UAE.

In this article, you’ll get a review of this prop firm, including analysis and instructions to get funded with an account from FundedNext.

Here’s what you’re going to learn:

What Is FundedNext And What Does It Offer?

FundedNext is a prop firm located in the UAE. It was originally founded in 2016.

What Can You Trade With FundedNext?

FundedNext is a prop firm that funds traders to trade Forex and other CFDs trading assets.

Here’s a list of all of them:

  • Forex: All major, minor, and even exotic pairs are there if you are a Forex trader.
  • Indices: Traded as CFDs, you have all the important indices available to trade including Dax, Nasdaq, Dow Jones, S&P500, FTSE, and others.
  • Commodities: Crude and Brent Oil.
  • Metals: Silver, Gold.
  • Cryptocurrencies: Bitcoin, Ethereum, Cardano, Doge, and a few others.

What Are The FundedNext Account Sizes?

FundedNext funds traders with account balances that go from $5,000 up to $200,000, which is pretty much the industry standard. Upon successful trading, they can be scaled up to a maximum of $4,000,000.

To get access to a funded account you need to choose and pass a Funding Model. The price of the Funding Model is different according to the account size that you are applying to.

The prices of the smaller funded account start at $32 and go up to $1099 for the bigger account.

What Is The FundedNext Leverage?

The leverage provided by the FundedNext prop firm depends on the symbol you are trading as well as the program you chose to get funded. Here’s the list of leverage by symbol and program:

Evaluation & Express Account

  • Forex: 1:100
  • Indices: 1:50
  • Commodities: 1:50
  • Metals: 1:50
  • Crypto: 1:2

Stellar 1-Step Account

  • Forex: 1:30
  • Indices: 1:5
  • Commodities: 1:10
  • Metals: 1:10
  • Crypto: 1:2

Stellar 2-Step Account

  • Forex: 1:100
  • Indices: 1:20
  • Commodities: 1:40
  • Metals: 1:40
  • Crypto: 1:2

Stellar Lite Account

  • Forex: 1:100
  • Indices: 1:15
  • Commodities: 1:25
  • Metals: 1:25
  • Crypto: 1:2

How Much Is The FundedNext Payout?

The FundedNext payout depends on the Funding Model chosen.

  • Express Funding Model: The first withdrawal gives you a 60% payout. The second withdrawal gives you a 75% profit share. The third withdrawal and the next ones will be 90%.
  • Evaluation Funding Model: You get an 80% profit split initially, which can be scaled up to 90%.
  • Stellar 1-Step Model: You get a 90% profit split.
  • Stellar 2-Step Model: You get an 80% profit split initially, which can be scaled up to 90%.
  • Stellar Lite Funding Model: You get an 80% profit split initially, which can be scaled up to 90%.

But wait, FundedNext also innovated here, it gives you a profit share every month even when you are still trading a demo account. While trading in demo you get a 15% profit share every month until you get a real account. Use the link below:

FundedNext Reviews

According to Trustpilot, FundedNext has an excellent classification. It’s scoring 4.6/5.0 after almost 4,000 reviews from users.

FundedNext Challenge: Evaluation

The Evaluation is one of the processes that you can choose to pass in order to get a funded account from FundedNext.

It has two phases to pass. In each phase, you have to achieve a minimum profit target, within a trading period, without exceeding drawdown limits.

Let’s look at them in detail.

Phase 1

During this phase, you need to achieve a profit target within four trading weeks. Here are all the details:

  • Daily drawdown: Maximum of 5% of the initial account balance.
  • Overall drawdown: Maximum of 10% below the initial account balance.
  • Profit target: 10%
  • Trading period: You need to achieve the profit target within 4 trading weeks.
  • Minimum trading days: You need to open trades on at least 5 different days.

Phase 2

When it comes to phase 2, the profit target decreases, and the trading period to achieve the target increases. Here are all the details:

  • Daily drawdown: Maximum of 5% of the initial account balance.
  • Overall drawdown: Maximum of 10% below the initial account balance.
  • Profit target: 5%
  • Trading period: You need to achieve the profit target within 8 trading weeks.
  • Minimum trading days: You need to open trades on at least 5 different days.

FundedNext Challenge: Express

This model is a bit different than Model 1. It only has a single phase instead of two.

Now you don’t have a time limit to achieve your profit, but the profit target also increased. This model allows traders to get funded in as fast as 10 days.

  • Daily drawdown: Maximum of 5% of the initial account balance.
  • Overall drawdown: Maximum of 10% below the initial account balance.
  • Profit target: 25%
  • Trading period: There’s no maximum, you can take as much time as you need to achieve the profit target.
  • Minimum trading days: You need to open trades on at least 10 different days every 4 weeks.

FundedNext Challenge: Stellar 1-Step

This model also has a single phase to pass before you’re awarded a funded account.

You can get funded in as little as 2 days, which is really fast, and there’s no time limit to complete the challenge.

Here are the details:

  • Daily drawdown: Maximum of 3% of the initial account balance.
  • Overall drawdown: Maximum of 6% below the initial account balance.
  • Profit target: 10%
  • Trading period: There’s no maximum, you can take as much time as you need to achieve the profit target.
  • Minimum trading days: You need to open trades on at least 2 different days.

FundedNext Challenge: Stellar 2-Step

When trading this challenge, you have 2 phases to pass before you’re awarded a funded account.

You can get funded in as little as 5 days, which is much faster than the industry standard, and there’s no time limit to complete the challenge.

Here are the details:

  • Daily drawdown: Maximum of 5% of the initial account balance.
  • Overall drawdown: Maximum of 10% below the initial account balance.
  • Profit target: 8% in phase 1 and 5% in phase 2.
  • Trading period: There’s no maximum, you can take as much time as you need to achieve the profit target.
  • Minimum trading days: You need to open trades on at least 5 different days.

FundedNext Challenge: Stellar Lite

When trading this challenge, you have 2 phases to pass before you’re awarded a funded account.

You can get funded in as little as 5 days, which is very fast, a characteristic of this prof firm. You also have no time limit to complete the challenge.

Here are the details:

  • Daily drawdown: Maximum of 4% of the initial account balance.
  • Overall drawdown: Maximum of 8% below the initial account balance.
  • Profit target: 8% in phase 1 and 4% in phase 2.
  • Trading period: There’s no maximum, you can take as much time as you need to achieve the profit target.
  • Minimum trading days: You need to open trades on at least 5 different days.

FundedNext Free Trial

Yes, you can have a free trial with FundedNext. You’ll get a 1-step account and 14 days to trade and try the prop firm before you apply for a challenge.

FundedNext Free Repeat

FundedNext doesn’t provide free repeats anymore, but it also removed the time limit for most challenges.

FundedNext Free Reset

Free Resets are not available, but if you use the link below, you get 10% discounts on resets if you breach any of the FundedNext rules.

FundedNext Platforms

FundedNext gives you access to the most popular trading platform used by Forex brokers.

You can use:

  • MetaTrader 4
  • MetaTrader 5
  • cTrader

FundedNext Trading Hours

There’s no requirement to close trades overnight or for the weekend.

You can keep your trades open for as long as you need, according to your own trading style.

The only exception is for the Express Consistency challenge. Although you can hold trades open overnight, you are not allowed to do it during the weekend.

FundedNext News Trading

With FundedNext you can trade during news releases which is great when we compare it to other firms that don’t allow news trading.

The only exception is for the Express Challenge. If you’re trading this challenge you can’t open and close trades 5 minutes before and after the news releases. You can keep the existing trades open.

This restriction only applies to the pairs that are affected by the news.

Is FundedNext Legit?

Yes, FundedNext is a legit company.

Here are the contacts to reach them:

  • Email: support@fundednext.com
  • Address: Office No. 7, AI Robotics HUB, C1 Building, AFZ, Ajman, UAE

FundedNext Alternatives

Here’s the list of the best FundedNext alternatives:

For more alternatives check our alternative prop firm tool:

Get Alternatives To Any Prop Firm

Recap

  • FundedNext is a prop trading firm based in the UAE.
  • You can get a funded account with up to $200,000 in balance (which can scale up to $4,000,000) and up to 90% profit split payout.
  • To get access to a funded account you need to pass one of the Funding Challenges.
  • The Stellar 1-Step is the fastest one, giving you the ability to get funded in as little as 2 days.
  • You can trade Forex, Indices, Metals, Commodities, and Crypto with FundedNext.
  • The popular MT4, MT5, and cTrader platforms are available to trade.

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