FundedNext offers traders access to substantial capital, ranging from $6,000 to $200,000, with a scaling plan that allows up to $4 million in capital based on trading performance. This review covers various aspects of FundedNext, including their profit-sharing model, account types, broker partnership, trading platforms, available instruments, leverage options, pay-out structures, pricing, and customer support. Whether you're a seasoned trader or a beginner, FundedNext provides resources for trading.
FundedNext Review
FundedNext, established in March 2022, operates as a proprietary trading firm with offices in various global locations, including the UAE, USA, UK, and Bangladesh. 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 four funding models, including Two-step Stellar, One-step Stellar, 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.
- No Time Limits: FundedNext provides challenge phases with no time constraints, allowing traders to focus on strategies without arbitrary deadlines.
- 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 195 countries. This global footprint ensures that traders from diverse backgrounds can readily access the trading platform.
- Swift Pay-outs: FundedNext has an average pay-out time of 5 hours. This pay-out process ensures that traders can swiftly access their earnings.
- Community: FundedNext has fostered a community comprising over 51,000 funded traders. This community facilitates networking opportunities.
- 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 with essential guidance on risk management and determining the optimal investment amount for each trade.
Broker Partnership
FundedNext collaborates with Incenteco and GrowthNext, recognized trading technology providers, to facilitate its operations. Through these partnerships, FundedNext leverages the expertise of reputable liquidity providers to create a trading environment that accurately mirrors the intricacies and dynamics found in real-world financial markets.
Trading Platform
FundedNext provides traders with the opportunity to trade on the MetaTrader 4 (MT4) platform. MT4 is known for its user-friendly interface and high customizability, making it a preferred choice among traders. It offers a set of trading tools that enable in-depth market analysis and support informed trade decisions.
Trading Instruments
FundedNext offers a selection of trading assets. Here's a list of the assets available for trading:
- Forex: Traders have access to all 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.
Trading Leverage
Depending on the specific trading phase and asset class, traders on FundedNext accounts have access to varying levels of leverage. During the evaluation and Express Challenge phases, for Forex pairs, the leverage is set at 1:100, while for Indices and Commodities, it stands at 1:50. In the funded phase, Forex pairs maintain a 1:100 leverage ratio, while Indices and Commodities see adjustments to 1:25.
Pay-out Structure
The pay-out structure at FundedNext varies depending on the chosen Funding Model. Here's a breakdown of the pay-out details:
- Evaluation Funding Model: Initially, you receive an 80% profit split, which can potentially be increased to 90% as you progress.
- Express Funding Model: For the first withdrawal, you receive a 60% pay-out. 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.
Furthermore, FundedNext introduces a feature in which traders receive a profit share every month, even while trading in a demo account. During your time in the demo account, you receive a 15% profit share every month until you transition to a real account.
Pricing
Traders can select from two distinct account types: Raw and Standard. Each account option comes with its unique fee structure. The Standard account incorporates fees within the spread, while the Raw account applies fees in the form of commissions. The pricing structure for standard accounts varies, starting at $49 for an account balance of $6,000 and increasing to $999 for an account balance of $200,000.
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 centre.
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 pay-outs to traders. Traders may consider the pricing options when evaluating FundedNext for their trading journey.
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