FundedNext Review
Established in March 2022, the prop firm holds office in both the UAE and Cyprus. They give traders access to capital with initial funding levels of up to $200,000. They provide access to capital, offering initial funding levels of up to $200,000 to traders. As traders demonstrate proficiency and meet predefined targets, they can access higher funding levels, potentially reaching up to $4 million. They aim to assist traders in developing trading strategies and potentially increasing profits. One of FundedNext's features is a 15% profit share during the evaluation phase, which incentivizes skilled traders and rewards their expertise. FundedNext provides continuous support to traders, with dedicated account managers available around the clock to address queries. The firm offers five funding models, including Two-step Stellar, One-step Stellar, Stellar Lite, Evaluation, and Express.
How FundedNext Differs from Other Proprietary Firms?
FundedNext differs from other firms through several key differentiators:
- Profit Sharing: FundedNext offers a 15% profit share during challenge phases, incentivizing top traders and highlighting their commitment to pay out bonuses.
- Transparency in Drawdown: FundedNext calculates drawdown based on the balance at the start of the trading day, emphasizing transparency and fairness.
- Competitive Trading Conditions: FundedNext offers competitive trading conditions with low commissions and raw spreads in swap-free accounts, optimizing profit potential.
What Are the Advantages of Joining FundedNext?
FundedNext comes with a range of advantages that make it a potential choice for traders:
- Global Reach: FundedNext has established its presence in over 180 countries. This global footprint ensures that traders from diverse backgrounds can readily access the trading platform.
- Swift Payouts: FundedNext has an average payout time of less than 24 hours, ensuring a fast and efficient process that allows traders to swiftly access their earnings. Additionally, as part of their Payout Insurance under the Brand Promise, FundedNext compensates traders with $1,000 if a payout request is delayed due to their internal processes, further enhancing trust and reliability.
- Reset Top-up Options: FundedNext offers the opportunity to reset their trading balance at a discounted price. This feature encourages traders to learn from their experiences and restart.
- Monthly Competitions: For traders eager to test their skills and compete with their peers, FundedNext provides an avenue through its monthly contests. These competitions not only offer cash rewards but also present the chance to unlock free accounts.
- Risk Management: FundedNext employs sophisticated position-sizing algorithms and calculators to offer traders essential guidance on risk management and determining the optimal investment amount for each trade.
- Daily news trading: FundedNext also allows traders to trade during daily news events, offering the flexibility to capitalize on market volatility without restrictions.
Trading Platform
FundedNext offers traders access to MetaTrader 4 (MT4), MetaTrader 5 (MT5), and cTrader platforms. These platforms provide user-friendly interfaces, advanced trading tools, and support for algorithmic trading, catering to various trading styles and strategies.
Trading Instruments
FundedNext offers a selection of trading assets. Here's a list of the assets available for trading:
- Forex: Traders have access to the majority of the currency pairs.
- Indices: Trading these as CFDs, FundedNext provides access to indices, including Dax, Nasdaq, Dow Jones, S&P500, FTSE, and others.
- Commodities: Crude and Brent oil are available for trading, allowing traders to participate in the commodities market.
- Metals: Precious metals such as silver and gold offer additional trading opportunities, diversifying the asset portfolio.
- Cryptocurrencies: FundedNext also provides trading opportunities in popular cryptocurrencies, including DOGUSD, ADAUSD, XLMUSD, XRPUSD, BTCUSD, ETHUSD, LNKUSD, LTCUSD, and XMRUSD.
Trading Leverage
Depending on the specific trading phase and asset class, traders on FundedNext accounts have access to varying levels of leverage. During both the evaluation and funded phases, leverage for Forex pairs is set up to 1:100, indices up to 1:15, commodities up to 1:25, and crypto is up to 1:1.
Payout Structure
The payout structure at FundedNext varies depending on the chosen funding model. Here's a breakdown of the payout details:
- Evaluation Funding Model: Initially, you receive an 80% profit split, which can potentially be increased to 90% as you scale up.
- Express Funding Model: For the first withdrawal, you receive a 60% payout. Subsequent withdrawals offer increased profit shares, with the second withdrawal granting 75%, and from the third withdrawal onwards, you can enjoy a 90% profit share.
Pricing
FundedNext offers a variety of programs, each with different account sizes and corresponding pricing. The most affordable option starts at just $32 for a $5,000 account, with prices increasing based on the account balance, reaching up to $999 for a $200,000 account. Each program provides flexibility in choosing the account size that best suits a trader's needs and budget.
Customer Support
For direct contact and more information, you can visit their official website at fundednext.com or reach out to their email support team at support@fundednext.com. While FundedNext's technical support operates 24/7, it's essential to note that response times may vary, and the available channels do not include a call center.
Summary
FundedNext offers a profit-sharing model during the evaluation phase, transparent drawdown calculations, and competitive trading conditions. The platform has a global presence and provides prompt payouts to traders. Traders may consider the pricing options when evaluating FundedNext for their trading journey.
