It seems like everything is increasing in popularity these days–except for the U.S. dollar.
Banks are closing, interest rates are high and inflation is still rising. This has many wondering what to do with their money–they want it to work for them.
Naturally, trading is a profitable avenue. But you need money to trade. Fortunately, there’s a solution.
Prop trading has become an increasingly popular way for traders to get their foot in the proverbial door. And FundedNext is a leading, global prop firm if you’re a forex trader looking for a funded account.
In this FundedNext review, we’ll examine the platform so you can discern if it’s for you.
Benefits at a Glance
Before getting deep, we’ve compiled a very surface-level list of the FundedNext pros:
- Maximum balance of $4 million
- Up to 90% profit split, making it one of the highest-paying prop trading firms
- No restrictions on trading style
- Unlimited evaluation retries for free
- 15% profit split in the evaluation stages
- 1:100 leverage
What is FundedNext?
FundedNext is a Bangladesh-based prop firm that was established to promote skilled and committed new traders by providing capital of up to $200,000. The platform provides traders with access to capital, advanced technology and risk management tools–all in an attempt to provide traders with a comfortable trading environment.
The firm’s trading evaluation process is designed to ensure that traders have the necessary skills and discipline to successfully trade using the firm’s capital.
Traders from around the world–who remain consistent and profitable–can eventually access up to $4 million in trading capital. Additionally, this comes with the flexibility to employ whatever trading strategy they choose and the opportunity to split 90% of the profits.
FundedNext launched in March 2022 and crossed $1 million in revenue within the first five months–while gaining more than 3,000 subscribers in the process.
How it Works
FundedNext strives to provide funds to traders in hopes of unleashing their true potential.
To receive funding on the platform, you must subscribe and then pass an examination. The exam takes you into a trading world simulation–where everything is real–except for the money.
The goal is to follow the rules and make a profit. Traders who perform well on the test are eligible for funding.
FundedNext Funding Models
The best-funded stock trading accounts come with an evaluation process–but some only offer one.
FundedNext currently provides two funding models. They are easy to understand and work like this:
- Evaluation – Offers traders up to 90% profit split based on their performance, however, the trading must be done under a fixed timeframe.
- Express – The Express model comes in two types and offers traders time flexibility but cuts the profits down to 60%.
Both models come with rules and regulations. For example, the in-platform algorithm restricts traders from exceeding a 5% loss in a single day.
As soon as a trader reaches this threshold, their account will be suspended for the day. The good news is that the loss is taken care of by the company–it doesn’t come out of your pocket.
Express Model Breakdown
The Express model from FundedNext is often the most popular–as it is just a one-step process to becoming funded. The two types are Consistency and Non-consistency. A little on both:
This model requires the trader to reach a profit target of 25% without surpassing the 5% daily loss limit. As stated, you have no maximum trading day requirements so you can take as long as you’d like.
However, during this period, you are required to trade for at least 10 days trading days per month.
Perhaps the most important aspect is that you adhere to the consistency rule–sharpening your trading habits and consistently earning your profits. This informs FundedNext that you’re not just a one-hit-wonder.
The Non-consistency model is similar in that you must reach the 25% profit target without surpassing the 5% daily loss limit and you are required to trade at least 10 trading days per month.
However, this model has no consistency rule. Translation: you can trade with almost no limitations with the end goal of reaching your profit target.
FundedNext Review: The Best Features
FundedNext has only been operating for a little over a year and it’s already made a name for itself. This fact points to only one conclusion: there’s something to like about it.
To be more accurate, there’s a lot to like about it. Here are some of the features that we believe make FundedNext one of the best prop trading firms on the market:
Variety of Trading Assets
FundedNext gives you the opportunity to trade a range of assets–forex, indices, commodities and cryptocurrencies.
This allows you to diversify your portfolio and take advantage of the different market conditions.
Currently, FundedNext only supports MetaTrader 4. We view this as a benefit because many traders prefer the respected platform.
If MetaTrader 4 isn’t to your taste, don’t worry. FundedNext has stated that they plan to add more trading platforms soon.
FundedNext Review: Final Thoughts
FundedNext is a reputable proprietary trading firm that offers traders access to capital, technology and risk management tools.
Traders should, however, be prepared to demonstrate their skills and discipline to pass the firm’s trading evaluation process and access the firm’s resources.
If you believe FundedNext is your route to becoming a successful trader, click here to get started.