Overview
Established in 2022 and headquartered in the United Arab Emirates, FundedNext offers traders the opportunity to manage simulated capital through various challenge models. The firm provides access to popular trading platforms and a range of account types to cater to different trading styles.
Evaluation Model
FundedNext offers several challenge models:
- Stellar 2-Step Challenge: Traders must achieve an 8% profit target in Phase 1 and a 5% profit target in Phase 2, with no time limits.
- Stellar Lite Challenge: Requires an 8% profit target in Phase 1 and a 4% profit target in Phase 2, also with no time limits.
- Stellar 1-Step Challenge: Traders must achieve a 10% profit target in a single phase.
- Express Challenge: Offers a one-phase evaluation with a 10% profit target.
Each model has specific rules regarding drawdowns and profit targets.
Profit Split
Profit sharing varies by account type:
- Stellar 2-Step and Stellar Lite: Start with an 80% profit split, which can increase to 90% through the Scale-Up plan.
- Stellar 1-Step: Offers a 90% profit split from the start.
- Express Account: Begins with a 60% profit split on the first withdrawal, increasing to 75% on the second, and 90% thereafter.
Additionally, traders can earn a 15% profit share from the Challenge Phase upon meeting certain growth criteria.
Max Funded Capital
Traders can manage up to $300,000 across multiple FundedNext accounts. citeturn0search5 Through the Scale-Up plan, this can increase to a maximum of $4 million.
Drawdown Rules
Drawdown limits vary by account type:
- Stellar 2-Step: 5% daily loss limit and 10% overall loss limit. citeturn0search15turn0search27
- Stellar 1-Step: 3% daily loss limit and 6% overall loss limit. citeturn0search15turn0search27
- Stellar Lite: 5% daily loss limit and 8% overall loss limit. citeturn0search15turn0search27
These limits are based on the initial account balance and do not adjust with profits or losses.
Trading Platforms
FundedNext supports multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and Match-Trader.
Scaling Plan
The Scale-Up plan allows traders to increase their account balance by 40%, up to a maximum of $4 million, along with a profit share of 90%.
Payout Process
Payouts are processed within 24 hours of a trader’s request. Traders can initiate withdrawals through their account dashboard.
Available Trading Instruments
The firm supports a wide range of instruments, including
- Forex (Major, Minor, Exotic Pairs)
- Indices (S&P 500, NASDAQ, DAX, etc.)
- Commodities (Gold, Silver, Oil)
- Cryptocurrencies (Bitcoin, Ethereum, etc.) (Limited availability)
Account Sizes
FundedNext offers various account sizes:
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| Stellar 2-Step | Stellar 1-Step | Stellar Lite | Express |
|---|---|---|---|
| $6,000 to $200,000. | $6,000 to $200,000. | $6,000 to $200,000. | $6,000 to $200,000 |
Profit Target
Profit targets vary by challenge model:
- Stellar 2-Step: 8% in Phase 1 and 5% in Phase 2.
- Stellar Lite: 8% in Phase 1 and 4% in Phase 2.
- Stellar 1-Step: 10% in a single phase.
- Express: 10% in a single phase.
Regulation & Security
FundedNext operates under the jurisdiction of the United Arab Emirates and offers services related to simulated trading and educational tools. They do not act as a broker nor accept any deposits.
Final Rating & Verdict
Feature
Rating (Out of 10)
Prop Firm Overview
9.0
Evaluation Model
8.5
Profit Split
9.0
Payments & Withdrawals
9.5
Regulation & Security
8.0
Maximum Funded Capital
9.0
Drawdown Rules
8.5
Trading Platforms
9.0
Scaling Plan
9.0
Payout Process
9.5
Trading Instruments
9.0
Account Sizes
9.0
Profit Targets
8.5
Overall Rating
9.0
Final Verdict
FundedNext offers a comprehensive and flexible platform for traders seeking funded accounts. With multiple evaluation models, competitive profit splits, a variety of trading instruments, and prompt payouts, it caters to both novice and experienced traders. While the firm operates under the jurisdiction of the UAE and offers simulated trading services, traders should be aware of the specific rules and requirements associated with each account type.