FundedNext Review 2024

FundedNext review

FundedNext is a proprietary hedge fund, established on 18 March 2022, with workplaces in the UAE, USA, UK, and Bangladesh. They aim to offer their traders an open trading climate through two different financing models, giving traders up to $4,000,000 and up to 90% benefits. The FundedNext platform collaborates with Eightcap as their broker.

Its central office is in the UAE at the following address: AI Robotics HUB, C1 Building, AFZ, Ajman, United Arab Emirates.

FundedNext provide its traders with two different types of programs to choose from:

 

  • Express model
  • Evaluation model

The prop trading firm is offering two different funding models to their community. You can choose between a two-step evaluation model and a one-step express model.

FundedNext’s  express model account allows traders to meet the one-step evaluation requirements with no maximum trading day requirements, with 1:100 leverage. The express model evaluation phase requires traders to reach a profit target of 25% without surpassing the 5% maximum daily or 10% maximum loss rules. Since traders have no maximum trading day requirements, they can take as long as they please. However, during a trading period, traders do have a requirement to trade at least 10 trading days per month. While trading, they are also required to respect the consistency rule, which will assist in sharpening trading habits and ensure traders are gaining their profits in a consistent manner until reaching their profit target.]

Once traders complete the express model evaluation phase, they are awarded a funded account with no profit targets. Traders are only required to respect the 5% maximum daily and 10% maximum loss rules. It is important to note that despite becoming funded, traders must still follow the consistency rule. Additionally, traders are required to trade for a minimum of 10 trading days in each monthly trading cycle. The first profit split will be 60% based on the profits generated and another 15% profit share based on the profit generated in the evaluation phase with the first payout. Following the first withdrawal, the profit split increases to 75%, and after the second withdrawal the trader reaches the final profit split of 90%.

Express model accounts also feature a scaling plan. A trader is required to reach a profit target of 10% or more within a four-month period in which two out of the four months were profitable, and the final month must end in profit. Traders will receive an account increase of 40% of the original account balance with no possibility to increase the account balance up to $4,000,000.

Example:

After four months: If you have a $200,000 account, your account balance will increase to $280,000.

After next four months: Balance of $280,000 increases to $360,000.

After next four months: Balance of $360,000 increases to $440,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, and indices.

  • Profit target: a specific percentage of profit a trader is required to obtain prior to completing an evaluation phase, withdrawing profits, or scaling their account. The profit target for the evaluation period is 25% while the funded account has no profit targets.
  • Maximum daily loss: a maximum loss a trader can sustain on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss: the maximum loss a trader can sustain overall before the account is violated. All account sizes have a maximum loss of 10%.
  • Minimum trading days: the minimum period a trade is required to trade before completing an evaluation phase or request a withdrawal. Trading is required for a minimum of 10 trading days during an evaluation period and traders are required to trade a minimum of 10 trading days in each monthly trading cycle.
  • No weekend holding: traders are not allowed to hold open positions during the weekends.
  • No news trading: traders are not allowed to trade during high-impact news releases. Traders are restricted from opening and closing any trade 5 minutes before and after the news.
  • Consistency rule: requires traders to have consistent position sizes, risk management, losses, gains, etc… This means that the characteristics of the account results should not differ drastically.

FundedNext’s  evaluation model account aims to identify serious and talented traders who will be rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows traders with 1:100 leverage.

Phase one of the evaluation requires traders to reach a profit target of 10% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. Traders are required to hit their profit target in 30 calendar days from the day they place their first position on their evaluation account. Traders are also required to trade a minimum of five trading days to proceed to phase two.

Phase two of the evaluation requires traders reach a profit target of 5% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. Traders are required to hit their profit target in 60 calendar days from the day they place their first position on their evaluation account. Traders are also required to trade a minimum of five trading days to proceed to a funded account.

After completing both evaluation phases, traders are rewarded with a funded account with no profit targets. Traders are only required to comply with the 5% maximum daily loss and 10% maximum loss rules. The first profit split will be 80% based on the profits generated and they will receive an additional 15% profit share based on the profit made in each evaluation phase, with the first payout. Following the first payout, traders will start receiving payouts on a bi-weekly basis.

Evaluation model accounts also have a scaling plan. Traders are required to reach a profit target of 10% or more within a four-month period, in which two out of the four months were profitable and in which the last month ends in profit. Traders will receive an account increase of 40% of the original account balance with the possibility to increase their account balance up to $4,000,000. Additionally, profit splits will increase to 90% when traders scale their account for the first time.

Example:

After four months: If you have a $200,000 account, your account balance will increase to $280,000.

After next four months: Balance of $280,000 increases to $360,000.

After next four months: Balance of $360,000 increases to $440,000.

And so on…

Trading instruments for the evaluation program accounts are forex pairs, commodities, and indices.

  • Profit target: a specific percentage of profit a trader is required to obtain prior to completing an evaluation phase, withdrawing profits, or scaling their account. Phase one’s profit target is 10% while Phase two’s profit target is 5%. Funded accounts have no profit targets.

 

  • Maximum daily loss: a maximum loss a trader can sustain on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.

 

  • Maximum loss: the maximum loss a trader can sustain overall before the account is violated. All account sizes have a maximum loss of 10%.

 

  • Minimum trading days: the minimum period a trade is required to trade before completing an evaluation phase or request a withdrawal. Trading is required for a minimum of five days for both phases.

 

  • Maximum trading days: the maximum period in which a trader is required to hit a specific profit or withdrawal target. Phase one has a maximum period of 30 trading days while phase two has a maximum period of 60 trading days.

 

  • No news trading: traders are not allowed to trade during high-impact news releases. Traders are restricted from opening and closing any trade 2 minutes before and after the news. This is only for funded accounts.

FundedNext is different from most industry-driving prop firms given its adaptable trading rules and lack of limitations. For instance, traders can trade the news (on demo stages) and hold exchanges for the time being and over the weekend. Compare with other prop trading firms, FundedNext offers a two-step assessment model and a one-step express model with increased leverage of 1:100. Likewise, their enormous scaling plan offers the possibility to develop an account up to a surplus of $4,000,000.

Trading objectives

FundedNext

My Forex Funds

Phase 1 profit target

10%

8%

Phase 2 profit target

5%

5%

Maximum daily loss

5%

5%

Maximum loss

10%

12%

Minimum trading days

5 calendar days

5 calendar days

Profit split

80% up to 90%

75% up to 85%

 

 

 

Example of comparison between FundedNext & E8 Funding

Trading objectives

FundedNext

E8 Funding

Phase 1 profit target

10%

8%

Phase 2 profit target

5%

5%

Maximum daily loss

5%

5%

Maximum loss

10%

8%

Minimum trading days

5 calendar days

No minimum trading days

Profit split

80% up to 90%

80%

 

 

 

Example of comparison between FundedNext & True Forex Funds

Trading objectives

FundedNext

True Forex Funds

Phase 1 profit target

10%

8%

Phase 2 profit target

5%

4%

Maximum daily loss

5%

5%

Maximum loss

10%

10%

Minimum trading days

5 calendar days

No minimum trading days

Profit split

80% up to 90%

80%

 

 

 

 

In conclusion, FundedNext is different from most industry-leading prop firms as it offers two different funding programs. In addition, it also offers traders relatively relaxed trading rules, making them an excellent choice for various types of traders.

When determining which prop firms best suit your forex trading style, it is essential to understand how realistic the trading requirements are. For example, a company offering a high % profit split on a highly funded account may sound great. But if they are expecting high % gains per month with loss % maximum drawdowns, a trader’s chances of success become close to zero.

Receiving capital from the express model is realistic despite having a profit target of 25% with 5% maximum daily and 10% maximum loss rules. This is doable mainly because there are no maximum trading day limitations. Traders can take their time by slowly acquiring profits and achieving their target to become funded.

Receiving capital from the evaluation model is realistic since they have industry average profit targets (with 10% in phase one and 5% in phase two) and maximum loss rules (5% maximum daily and 10% maximum loss).

With all of this considered, FundedNext is an excellent choice for getting funded. Traders can choose between two different funding programs: Express and Evaluation, both of which have realistic trading objectives and conditions for receiving payouts.

FundedNext was incorporated on 18 March 2022, and has been running for half of a year. It is developing into one of the best proprietary trading firm choices in the industry. You can see payment proof by clicking the image below!

Additional payout proof can be found on their Instagram account and in their Discord channel under payout-proof and in their five-digit payout general chats.

FundedNext has integrated its technology with the broker Eightcap, as ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a straightforward mission to provide exceptional financial services. They have five offices around the world and operate in multiple regulatory environments, providing clients the ability to trade on markets across FX, indices, commodities, and shares.

Eightcap is considered average risk, with an overall Trust Score of 73 out of 99. They offer the following features:

  • Forex Trading
  • CFD Trading
  • Cryptocurrency Trading
  • Social Trading/Copy-Trading
  • A total of 326 Tradeable Symbols
  • A total of 45 Forex Pairs

Eightcap offers two account types: Raw and Standard. The commissions and fees will depend on the selected account type. For Standard accounts, fees are built into a spread whereas for Raw accounts, fees are built into a commission. Another fee to consider is the overnight fee, which is an interest for holding an open position overnight.

As a MetaTrader-only broker, they offer both MetaTrader 4 and the newer MetaTrader 5 platforms from the MetaQuotes Software Corporation.

They deliver a personalized trading experience and offer an ultra-efficient technology infrastructure for trading. They have been named the Best Global Forex MT4 Broker at the 2020 Global Forex Awards. For trading platforms, traders can use MetaTrader 4.

FundedNext allows you to trade forex pairs, commodities, and indices with a 1:100 leverage.

 

FOREX:

AUD/CAD

AUD/CHF

AUD/JPY

AUD/NZD

AUD/SGD

AUD/USD

CAD/CHF

CAD/JPY

CHF/JPY

EUR/AUD

EUR/CAD

EUR/CHF

EUR/HUF

EUR/JPY

EUR/NOK

EUR/NZD

EUR/PLN

EUR/TRY

EUR/USD

GBP/AUD

GBP/CAD

GBP/CHF

GBP/JPY

GBP/NZD

GBP/USD

NZD/CAD

NZD/CHF

NZD/JPY

NZD/USD

SGD/JPY

USD/CAD

USD/CHF

USD/DKK

USD/HKD

USD/HUF

USD/JPY

USD/MXN

USD/NOK

USD/PLN

USD/SEK

USD/SGD

USD/THB

USD/TRY

USD/ZAR

   

              COMMODITIES:

UKO/USD

USO/USD

XAU/USD

XAG/USD

INDICES:

FRA40

EUSTX50

JPN225

NDX100

SPX500

UK100

US2000

USDX

VIX

AUS200

GER30

HK50

US30

    

Trading fees

 

Trading commission:

Assets

Fee terms

FOREX

3 USD / LOT

COMMODITIES

0 USD / LOT

INDICES

0 USD / LOT

  

Spread:

 

In order to check the live spreads login to the trading account below:

 

Platform

Server

Login number

Password

Download platform

MetaTrader 4

EightcapLtd-Demo3

19922367

ZGV8BVsB

Click here

FundedNext does not provide any educational content on its website.

Another thing FundedNext provides to its traders is a well-structured dashboard that all of its clients can access, making it easier to manage risk with all the objectives of their statistics.

In conclusion, FundedNext is one the newest and legitimate proprietary trading firms in the industry that offers traders the chance to choose between the Express and Evaluation models. In addition, they feature relatively relaxed trading rules. Traders can trade during the news on the Evaluation model accounts, both during phase one and phase two. Traders can also hold trades over the weekend within the Evaluation model accounts. In all phases of the Express and Evaluation models, traders can hold trades overnight.

Express model accounts feature a one-step evaluation challenge that requires completing phase one before becoming funded and becoming eligible to earn profit splits. FundedNext requires traders to reach a profit target of 25% prior to becoming funded while respecting the 5% maximum daily and 10% maximum loss rules. In addition, traders are required to trade for a minimum of 5 calendar days with no maximum trading day limitations. This means traders can acquire profits slowly and take all the time they need. With the Express model, traders earn 60% all the way up to 90% profit split while also able to scale their accounts.

Evaluation model accounts are an industry-standard, two-phase evaluation challenge that require completing both phases prior to becoming funded and becoming eligible to earn profit splits. FundedNext requires traders to reach profit targets of 10% in phase one and 5% in phase two before becoming funded. These are realistic trading objectives considering the 5% maximum daily and 10% maximum loss rules. With Evaluation programs, traders can earn 80% up to 90% profit split while also being able to scale their accounts.

We recommend FundedNext to any trader seeking a legitimate prop firm with straightforward rules and trading objectives. While they are one of the newer prop firms in the industry, they have proven themselves to be a trustworthy and safe choice for anyone looking to acquire capital with them. Overall, they offer excellent conditions for a large pool of individuals with different trading strategies. After considering everything they have to offer, we conclude that FundedNext is surely an appealing funded trading firm and an industry-leading proprietary trading firm of the moment.

Please refer to the following pages of our website to read about similar other Prop Firms leading the industry such as: SurgeTrader Review

FundedNext provides a range of starting balance options for all challenges, including $6,000, $15,000, $25,000, $50,000, $100,000, or $200,000. However, for the Express Non-Consistency Challenge, the available starting balances are $6,000, $15,000, $25,000, $50,000, and $100,000.

If you desire to trade with a higher account balance, FundedNext offers a Scale-Up plan specifically designed for traders who demonstrate consistency in their trading strategy and effective risk management. Through the Scale-Up plan, traders can access the opportunity to trade with a higher account balance and further maximize their trading potential.

To get more information regarding the Scale-Up plan, kindly click here

FundedNext is registered and operates as a global proprietary trading platform based in the United Arab Emirates (UAE) and actively conducting operations from UAE and Bangladesh.

Headquarter:

United Arab Emirates

Office No. 7, AI Robotics HUB, C1 Building, AFZ, Ajman, UAE

FundedNext is registered and operates as a global proprietary trading platform based in the United Arab Emirates (UAE). Due to the nature of our product and services, FundedNext is not subject to any financial services regulation and therefore does not hold a special license.

FundedNext, a proprietary global trading platform, holds a registered trademark in the UAE and is officially established in Ajman, UAE.

 

FundedNext operates within a distinct framework and is not subject to traditional financial regulation. It’s essential to understand that FundedNext does not hold clients’ funds or engage in trading on behalf of the public. This unique attribute means that the regulatory requirements typically applied to firms holding client funds or offering trading services to the general public do not apply to FundedNext.

If you are inquiring whether FundedNext is mandated to adhere to regulatory oversight within the jurisdictions of the United States or Canada, you can find the relevant information within the article here.

FundedNext, a proprietary global trading platform, holds a registered trademark in the UAE and is officially established in Ajman, UAE. Our banking relationships are maintained with premier UAE banks, adhering to the regulatory guidelines set forth by the UAE Central Bank under Federal Law No. 10 of 1980 governing the promotion of financial products and services. As a result, FundedNext does not necessitate regulatory authorization from the Canadian provincial securities authority or the commodities regulator in the United States.

FundedNext operates independently within the UAE’s regulatory framework, and we want to assure all traders that they do not need to worry about the recent regulatory actions in Canada and the United States. Our services remain unaffected, and you can continue trading with confidence. FundedNext is committed to providing our traders with the best possible support and maintaining the highest standards of service.

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