Looking for a respectable prop company to assist you raise your trading game and possibly increase your profits? FundedNext is one of the best options. FundedNext is a great choice for traders of all experience levels because it provides individualized account managers, funded accounts, and a vibrant Discord community to keep you informed and involved.
What Is FundedNext?
FundedNext is a reputable and cutting-edge prop company, dedicated to assisting traders all around the world in achieving financial success. Before extending funded accounts, its innovative approach comprehensively assesses a trader’s risk tolerance and profit-making potential. This strategy enables traders who pass the assessment to reduce their personal risk by using the firm’s capital rather than their own when trading.
Who Founded FundedNext?
Abdullah Jayed founded FundedNext in 2022 with the goal of building a prop company that encourages traders to follow their goals. Despite being a new company on the trading market, FundedNext has already funded accounts for over 17,000 traders.
With an average payout duration of just five hours, the organisation has an amazing track record of having paid out over $22,000,000 to its traders. Respected magazines including Bloomberg, Nasdaq, and StreetInsider.com have recognized them for their extraordinary achievement. It’s intriguing to consider what this innovative company’s future may bring.
FundedNext Trading Platforms
FundedNext only supports MetaTrader 4, a respected platform that many traders prefer. It is a trusted platform, so we don’t think this is a major disadvantage. Additionally, in response to reviews, FundedNext stated that additional trading platforms would be added in the near future. You can trade currencies, indices, and commodities using FundedNext.
How Does FundedNext Work?
Similar to most prop companies, FundedNext allows successful traders to use a funded account. You must keep in mind that it only offers connections with MetaTrader and focuses on FX.
FundedNext takes advantage of its ability to provide accounts rapidly, in having low commissions and great spreads because of the integration of MetaTrader, and in providing trader-friendly leverage. You will gain a better understanding of FundedNext’s functionality and primary advantages after going over these features.
Let’s talk about how FundedNext works, including its review procedures and available account types.
Evaluation Model
FundedNext offers a two-step evaluation approach with specific profit goals and trading objectives. To begin trading on a real funded account and make higher gains, traders must successfully complete the evaluation process.
The guidelines for the FundedNext Evaluation are as follows:
- 5% daily drawdown
- 10% overall drawdown
- 5% profit target in Phase 1 (within four trading weeks)
- 10% profit target in Phase 2 (within eight trading weeks)
- Place at least 5 individuals and trade independently each month
Although FundedNext claims to offer realistic profit projections, some traders believe 10% to be excessive. However, the finest feature of FundedNext’s evaluation is that if you are in profit but haven’t met the goal, you have access to unlimited free retakes. Additionally, you can get a 14-day extension to finish the test, which is very beneficial.
You’ll get a funded account with an 80% profit split percentage after passing the test. By becoming a successful trader, you can eventually reach 90%.
Express Model
FundedNext further offers the Express Model, a one-step evaluation procedure with a higher profit objective. When using the Express Model and abiding by the trading regulations, there are no time restrictions and you can access a funded account as soon as you reach the profit target.
The Express Model’s guidelines are as follows:
- 5% daily loss
- 10% overall loss
- 25% profit target
- Trade for at least 10 trading days
There are two different sorts of Express Model Accounts available:
- Consistency Account
- Non-Consistency Account
The Express Account is a great choice if you need funding quickly because you can receive it in as little as 10 days. To keep more of your money, you must execute profitable trades as you only start with a 60% profit split.
Account Sizes
The following account options are available from FundedNext: $15K, $20K, $50K, $100K, or $200K. Must remember that a Non-Consistency Account does not allow for a $200K balance in your funded account.
Top Features of FundedNext.
FundedNext lets you keep up to 90% of your profits by being a successful trader. However, depending on your account type, you will start as low as 60-80%. But what really sets FundedNext apart is that you keep 15% of your profits during the evaluation phase, an excellent feature that lets you make more money.
Here is a list of the top features of FundedNext.
a) Up to 90% Profit Split
By trading well, FundedNext allows you to keep up to 90% of your earnings. However, you’ll start out at 60–80%, depending on the type of account you have. The fact that you keep 15% of your revenues throughout the evaluation process, a great feature that allows you to earn more money, is what really distinguishes FundedNext.
b) Manage Up to $4,000,000
In a normal trading environment, traders can handle up to $4,000,000 with 1:100 leverage and a scaling plan option. We can see that this sum is very competitive. However, you won’t get a scaling plan until you demonstrate your trading prowess, so abide by the FundedNext guidelines.
c) Fast account access
Some prop companies make it difficult for you to access a funded account for days or even weeks. A funded account can be promptly accessed by successful and assured traders using FundedNext in a matter of minutes, if not seconds.
d) FundedNext Mobile App
Investors can access a mobile app from FundedNext to get real-time trading updates. From the palm of your hand, you may use the app to monitor your trading activity, account growth, and payout information. We highly value FundedNext’s mobile app because not many prop firms have one.
e) Dedicated Account Manager
At FundedNext, each trader has a specific account manager. Your account manager is there to assist you 24/7 if you have any issues about your funded account or require assistance while trading.
f) Active Discord Community
One of the top communities for prop trading is FundedNext, which has a thriving Discord channel with 24,000 members. On the FundedNext Discord, you may connect with like-minded colleagues, share trading tactics, and talk about the state of the market.
FundedNext Pricing & Plans
FundedNext provides a variety of programmes at competitive pricing.
Here is a summary of a $25,000 Evaluation account (using MetaTrader 4) to give you an idea of FundedNext’s pricing and evaluation policies.
- Maximum Daily Loss | $1,250
- Maximum Overall Loss | $2,500
- Reset Fee | 90%
- Minimum Trading Days | 5
- Trading Leverage | 1:100
- One-time Fee (refundable) | $199
Be sure to check with FundedNext directly for more details on this account and others.
FundedNext Pros & Cons
The pros and cons of trading with FundedNext are listed below:
FundedNext Pros
- Up to 90% profit share
- 24/7 account manager
- Supports scalpers, swing, and intraday traders
- Grow capital and profits with a scaling plan
- 1:100 leverage
- Trade from the mobile app
- Fantastic community
FundedNext Cons
- Low profit splits for some accounts
- Only supports MetaTrader 4
- Insane profit target for Express Model Accounts
Conclusion:
FundedNext is a great option because of its expanding profit shares and expansion plans up to $4,000,000. You may join a flourishing trading community, quickly get funded, and follow trades using the mobile app.
FundedNext may not be the best option for novice traders due to a lack of training resources, but it is one of the top choices for experienced traders looking for funding.
