FundedNext Review

FundedNext Review 2024

FundedNext is a proprietary hedge fund company integrated on the eighteenth of March 2022. They endeavour to give their traders an open trading climate. That’s what to achieve, they have thought of two different financing models. They have workplaces situated in the UAE, USA, UK, and Bangladesh while giving traders money up to $4,000,000 with up to 90% benefit parts. FundedNext platform collaborates with Eightcap as their Broker. Their central office is in the United Arab Emirates at the accompanying location: AI Robotics HUB, C1 Building, AFZ, Ajman, United Arab Emirates.

FundedNext offers its traders two different programs to choose from:

  • Express model
  • Evaluation model

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 express model account allows traders to meet the one-step evaluation requirements with no maximum trading day requirements, where with 1:100 leverage.

The express model evaluation phase requires a trader to reach a profit target of 25% without surpassing the 5% maximum daily or 10% maximum loss rules. You have no maximum trading day requirements, so you can take as long as you please. However, during your trading period, you have a requirement to trade for at least 10 trading days per month. While trading, you are also required to respect the consistency rule that will assist you in sharpening your trading habits and make sure you are gaining your profits in a consistent way until you reach your profit target.

By completing your express model evaluation phase, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily and 10% maximum loss rules. Note that despite becoming funded, you will still require to follow their consistency rule. In addition, you are required to trade for a minimum of 10 trading days in each monthly trading cycle. Your first profit split will be 60% based on the profits that you made. You also receive a 15% profit share based on the profit you make in the evaluation phase with your first payout. After your first withdrawal, your profit split will increase to 75%, and after the second withdrawal, you will reach your final profit split of 90%.

Express model accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable, and the last month must end in profit. You will receive an account increase of 40% of the original account balance with a possibility to increase your account balance all the way up to $4,000,000.

Example:

After 4 months: If you have a $200,000 account, your account balance will increase to $280,000.

After next 4 months: Balance of $280,000 increases to $360,000.

After next 4 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 is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Profit target for the evaluation period is 25%, while the funded account has no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 120%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase or request a withdrawal. You are required to trade for a minimum of 10 trading days during your evaluation period. You will also be required to trade a minimum of 10 trading days in each monthly trading cycle.
  • No weekend holding means that traders are not allowed to hold open positions during the weekends.
  • No news trading means that traders are not allowed to trade during high-impact news releases. You are restricted from opening and closing any trade 5 minutes before and after the news.
  • The consistency rule is a rule that requires traders to have consistent position sizes, risk management, losses, gains, etc… Meaning that the characteristics of the account results should not differentiate drastically.

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

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

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

By completing both evaluation phases, you are awarded a funded account where you have no profit targets. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules. Your first profit split will be 80% based on the profits that you made. In addition, you will also receive a 15% profit share based on the profit you make in each evaluation phase with your first payout. After your first payout, you will start receiving your payouts on a bi-weekly basis.

Evaluation model accounts also have a scaling plan. You are required to reach a profit target of 10% or more within a four-month period where two out of the four months were profitable, and the last month must end in profit. You will receive an account increase of 40% of the original account balance with a possibility to increase your account balance all the way up to $4,000,000. In addition, your profit split will also increase to 90% when you scale your account for the first time.

Example:

After 4 months: If you have a $200,000 account, your account balance will increase to $280,000.

After next 4 months: Balance of $280,000 increases to $360,000.

After next 4 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 is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10% while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
  • Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
  • Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
  • Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase or request a withdrawal. Both phases have a 5 minimum trading day requirement.
  • Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
  • No news trading means that traders are not allowed to trade during high-impact news releases. You are restricted from opening and closing any trade 2 minutes before and after the news (only on funded accounts).

FundedNext is not quite the same as most industry-driving prop firms due to having adaptable trading rules with basically no limitations. For instance, you can trade news (on demo stages). Hold exchanges for the time being and during the end of the week. Contrasted with other prop trading firms, FundedNext offers a two-step assessment model and a one-step express model with increased leverage of 1:100. They likewise have an enormous scaling plan with the possibility to develop your 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 by offering two different funding programs. In addition, they also offer traders relatively relaxed trading rules, which makes them an excellent choice no matter what type of trader you are.

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the express model is realistic despite the fact they have a profit target of 25% with a 5% maximum daily and 10% maximum loss rules. The main reasoning behind that is due to the fact that there are no maximum trading day limitations. You can take your time by slowly acquiring profits and achieving your profit target to become funded.

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

After considering all of that, FundedNext is an excellent choice to get funded since you can choose between two different funding programs: Express and Evaluation, which have realistic trading objectives to follow and conditions to receive payouts.

FundedNext was incorporated on the 18th of March 2022. They have now been running for half a year and are developing into one of the best proprietary trading firm choices in the industry.

You can see payment proof by clicking on the image below!

More payout proof can mostly be found under posts on their Instagram account. In addition, you can also find many payout proof in their Discord channel under payout-proof and 5-digit payouts general chats.

FundedNext has integrated its technology with a broker Eightcap, an ASIC-regulated broker in Melbourne, Australia. They were founded in 2009 with a simple, straightforward mission to provide exceptional financial services to its clients. They have five offices around the globe and regulations in multiple locations providing clients worldwide with 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 have the following features:

  1. Forex Trading
  2. CFD Trading
  3. Cryptocurrency Trading
  4. Social Trading/Copy-Trading
  5. A total of 326 Tradeable Symbols
  6. A total of 45 Forex Pairs

They offer two account types, one being Raw and the other Standard. The commissions and fees will depend on which of the two you choose. Fees for Standard accounts are built into a spread and for Raw accounts into a commission. Another fee you should always consider is the overnight fee, which is an interest for holding an open position overnight in trading.

Being a MetaTrader only broker, their offers are MetaTrader 4 and the newer MetaTrader 5 platforms from MetaQuotes Software Corporation.

They deliver a personalized trading experience and create an ultra-efficient technology infrastructure for you to trade on and have been awarded the Best Global Forex MT4 Broker 2020 at the Global Forex Awards for doing so.

As for trading platforms, you 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 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 of the newest and legitimate proprietary trading firms in the industry that offers traders a chance to choose between the express and evaluation models. In addition, they also have relatively relaxed trading rules. You can trade during the news on Evaluation model accounts (phase one and phase two), hold trades over the weekend (Evaluation model accounts), and hold trades overnight on both account types during all phases.

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

Evaluation model accounts are an industry-standard two-phase evaluation challenge that requires the completion of two phases before becoming funded and being 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, which are realistic trading objectives considering you have a 5% maximum daily and 10% maximum loss rules to follow. With evaluation programs, you can earn 80% up to 90% profit splits while also being able to scale your accounts.

I would recommend FundedNext to any trader who is looking for a legitimate prop firm with straightforward rules and trading objectives. While they are one of the newest prop firms in the industry, they have proven themselves to be trustworthy and a safe choice for anyone looking to acquire capital with them. In addition, they also offer traders excellent conditions for a large pool of individuals with unique trading strategies. After considering everything FundedNext has to offer, they are for sure one of the industry-leading proprietary trading firms at the moment.

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