FundedNext, a rapidly emerging proprietary trading firm, has carved a niche in the forex trading industry. It provides traders with the opportunity to trade with a funded account, setting itself apart with scalable profit splits and the potential for traders to increase their account size every four months, contingent on successful trading. This dynamic platform offers up to 1:100 leverage, making it an attractive option for ambitious traders.
The prop firm industry is currently experiencing exponential growth, with many traders eager to join firms like FundedNext. These firms offer a lifeline to traders who lack sufficient capital, some even offering up to $1 million for trading purposes. The profits generated from such capital are usually shared, typically with an 80/20 split favoring the trader.
However, securing a funded account isn’t automatic. Aspiring traders must undergo and pass internal evaluations, often referred to as a “Challenge,” to demonstrate their trading proficiency and earn the trust of the firm. FundedNext is among the latest entrants in this competitive field, promising a blend of growth opportunities and solid trading conditions.
For traders pondering the question, “What to know before signing up to FundedNext,” this comprehensive FundedNext review aims to offer clarity and insights into the firm’s offerings, challenges, and potential benefits.
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What To Know Before Signing Up To FundedNext
Before you decide to sign up to FundedNext, you should know all the important information like the benefits, drawbacks and pricing. Before we get into those details, let me outline exactly what FundedNext is.
What is FundedNext?
FundedNext, launched in March 2022 by Abdullah Jayed, a prominent figure in the digital and retail trading sectors, has quickly become a notable proprietary trading firm. Headquartered in the UAE, with additional offices in the USA, UK, and Bangladesh, FundedNext stands out for offering substantial capital to traders, up to $4 million for the exceptionally skilled. The firm starts traders with a capital of up to $200,000, providing an avenue for growth as traders demonstrate their abilities and achieve set targets.
Unique in its approach, FundedNext is the only prop firm known to offer a 15% profit share from the profits made during the challenge phases. This incentive aims to reward top-performing traders, upholding the firm’s commitment to offering some of the best payout bonuses in the industry.
This feature makes FundedNext a compelling option for traders aiming to maximize their earnings while developing their trading skills in a well-resourced and supportive environment.
- Substantial Starting Balance: Traders can receive up to $200,000 initially and increase it by up to 20 times after passing the challenge.
- Profit Sharing Scale: Starts with the trader receiving 60% of net profits, potentially increasing to a maximum of 90%.
- Flexible Payout Schedule: Initially, payouts are available monthly, later advancing to biweekly requests.
- Competitive Trading Fees: Fees set by Eightcap are lower than direct trading with the broker.
- Diverse Account Options: Two main account types, each with five plans, vary in the balance provided after qualification confirmation.
- Earn Profit During Account Challenge: Traders participate in challenges on a demo account, eligible for a 15% profit share.
- Rapid Account Access: FundedNext offers swift access to funded accounts, significantly faster than many other prop firms.
- Realistic Profit Targets: Challenges feature attainable profit targets with clear, straightforward trading rules.
- Advantageous Commissions and Spreads: Offers reasonable commissions and raw spreads for diverse asset trading, including exotic pairs and scalping strategies.
- Mobile Application: An Android app for on-the-go trading management, with an iOS app in development.
- Active Trading Community: Access to a vibrant Discord community for learning, strategy exchange, and trader interaction.
I can’t, in good faith, write this FundedNext review without outlining some potential drawbacks. Here are the main negative aspects of FundedNext in my opinion:
- Exclusive MetaTrader Support: FundedNext only supports trading on the MetaTrader platform, limiting broker options.
- Challenge Entry Costs: Participation in the FundedNext challenge requires an entry fee, which aligns with industry standards but still represents an upfront cost.
If any of these drawbacks are a red flag for you, rest assured there are some other quality companies in the prop trading industry. If you value educational tools and a supportive trading community, FTMO might be worth a look. Check out my FundedNext vs FTMO review to decide if it aligns with your trading objectives.
The evaluation fee for FundedNext starts from $99 for a $15,000 account all the way up to $999 for a $200,000 account. For more details, check out my FundedNext coupon code to save money on signing up to FundedNext.
Is FundedNext A Scam?
All investments, including prop trading, come with risks. As evident by their 4.7 out of 5 average Trustpilot rating, FundedNext is not a scam. FundedNext’s transparent approach and positive customer feedback shows it is a reputable partner in the prop trading industry.
In concluding this FundedNext review, it’s essential to remember a few key points. Before signing up, understand that FundedNext offers various challenges and trading conditions designed to suit different trading styles. With options like Evaluation, Express, and Stellar, traders can find a path that aligns with their goals and strategies.
The platform’s commitment to realistic profit targets, competitive profit splits, and educational support makes it a noteworthy choice for those looking to join a prop firm.