FundedNext Review

In this FundedNext review we will provide all the information you need to make an informed decision on this prop firm. They are a relatively new funded trading company that went live in March 2022. According to sources online they have multiple offices around the world including the UK, US and the United Arab Emirates. This review will explain how the process for FundedNext works, the capital they provide and costs for evaluations as well as its advantages and disadvantages.

4.2/5
FundedNext Review

Advantages

  • up to $4,000,000 in capital
  • Leverage of 1:100
  • Overnight and weekend holding
  • 15% profit share of evaluation earnings

Disadvantages

  • No cryptocurrencies to trade
  • Minimum of 10 trading days
  • Only established in March 2022

How does This prop Firm Work?

FundedNext is a prop firm that provides funded trading accounts to its clients up to the maximum value of $4,000,000 with their scaling plan. To get started you can purchase either an evaluation account or an express account. Traders need to stick to the rules of either plan and ensure they achieve the profit target in order to proceed to their funded account. The rules for both versions of the program are fairly similar; however the evaluation program has two stages and the express is just one.

FundedNext’s rules include 10 days minimum trading where they ask you to make at least one unique trade each trading day without breaching any of their rules. For phase one of the evaluation you have a 30 day trading period and in phase two that extends to 60 days. In the evaluation program you have a profit target of 10% for phase one. You only need to achieve a profit target of 5% for phase two while adhering to the rules in order to pass the whole evaluation.

With the express account, while there are still 10 minimum trading days there is no maximum with this program. You are however expected to achieve a profit target of 25% whilst sticking to their rules and ensuring you do not breach their drawdown limits. Both models have a 5% daily loss limit and a 10% maximum loss limit which you need to ensure you keep within. Both program types allow you to trade with a 1:100 leverage across all their trading instruments.

How much Capital do they provide and what are their prices?

FundedNext provide capital up to the value of $4,000,000 with their version of a scaling process. According to their website once you have achieved a live account and remain profitable they will add funds to your account every 4 months up to a maximum of $4 million dollars. They offer a profit split of 60% for your funded account which can be increased to a maximum of 90%.

FundedNext has two types of evaluations you can purchase with them – the Evaluation, 2 step program and the Express one step program. Their account sizes range from smaller accounts of $15,000 increase to the highest purchasable account of $200,000 for the evaluation account. The Express accounts range from $15,000 to $100,000. Their pricing is as follows:

Evaluation, 2 step program
$15,000 account costs $99
$25,000 account costs $199
$50,000 account costs $299
$100,000 account costs $549
$200,000 account costs $999

Express, 1 step program
$15,000 account costs $199
$25,000 account costs $219
$50,000 account costs $379
$100,000 account costs $699

Are They legit?

FundedNext appears to be new in the prop firm industry as they were only incorporated in March 2022. However they have a good and growing presence on social media including Facebook, Instagram and Youtube. While their Youtube page is newer than the other social media accounts, they do have a growing portfolio of videos and have over 1,300 subscribers. They also have a Facebook page with over 9,000 followers alongside a community group consisting of over 4,500 members. These pages are contributed to daily by staff and the trading group itself, so you engage in conversations with fellow traders.

They also have a TrustPilot account with, as of May 2022, over 130 reviews with new additions coming in every day. They currently have a 4.4 out of 5 stars rating which is at 82% excellent based on the type of reviews given. Based on all this information with the limited time this prop firm has been available to the public, it is fair to say that so far they appear to be legitimate. They will continue finding their feet in this field and we will keep an eye on their progress and update our review if needs be.

What platform do they use?

FundedNext use the industry standard platform MetaTrader4. Their partnered broker is Eightcap

What markets can be traded?

FundedNext advertises that you can trade any markets available in your MetaTrader4 platform. This means their available instruments are Forex pairs, Indices and Commodities and a full list of their available assets are listed in their FAQ.

Do They Trade Crypto?

The FundedNext website only states that “you will receive the lowest spread possible” and gives no information about their charges. However, their partnered broker is Eightcap and the brokers website does list their costs. Eightcap states that commission is charged at $3.5 per standard lot traded and all their individual costs and spreads per instrument are listed in detail on the website.

How much does the company charge as commission and spread?​

Unfortunately at this time, FundedNext doesn’t offer Crypto as an instrument available to trade.

What are Their Withdrawal Options?

FundedNext allows withdrawal requests when a trader is in profit at the end of each trading cycle. The trading cycle is four weeks for an evaluation program and 2 weeks for the express program. As long as you’re in profit at the end of your trading cycle you can request a withdrawal in your account portal which is a profit withdrawal button in your dashboard. They accept withdrawals through the following options as listed on their website: Perfect Money, USDT/Tether, BTC, Deel (Bank Transfer, Coinbase, PayPal, Payoneer, Revolut, Wise, Deel Card)

Do they provide education and training?

FundedNext advertises that you can trade any markets available in your MetaTrader4 platform. This means their available instruments are Forex pairs, Indices and Commodities and a full list of their available assets are listed in their FAQ.

Do they have Support and Contact options?

FundedNext have multiple options for support should traders require any assistance. They offer a 24 hour live chat feature on their website alongside a support email address and have an in-site ticket submission system. You can also contact them through some of their social media accounts, like their Instagram and Facebook.

What makes them unique?

FundedNext have plenty of rules that are the standard when it comes to the prop firm industry, however they have some unique selling points. The first major differentiating factor is that they offer traders a profit split even during the evaluation phase. Both the express and the evaluation program reward traders with 15% of the profits made in their initial assessment. This is extremely attractive to traders who will pay the one time, refundable fee for their account.

Another difference with FundedNext is that they offer unlimited retakes of any of their programs for free, there is no extra charge. When you take an evaluation, if you are unfortunate or perhaps make a mistake and breach a rule resulting in failing your account you can reset and try again. Most firms charge a fee here at a discounted rate but this company offers all resets free of charge.

Another difference is the scaling plan which offers traders capital up to $4,000,000 in a funded trading account. You must achieve the profit target consistently for four months and after every four months the company will increase the available capital in your account. Traders must meet at least 10% account growth in four consecutive months in their live account and request at least 2 payouts. If these conditions are met then FundedNext will increase your balance by 40% until you reach the maximum capital they allow.

Overall, although a newer prop firm, FundedNext offer a fair program with consistent and simple rules and an easy to follow course to a funded trading account. If you want to find out more about them or sign up to their program you can do so here.