FundedNext Review 2024: Everything You Should Know

FundedNext is a renowned prop firm used by traders worldwide. Prop firms grant profitable traders access to more capital, hence their growing popularity over the recent years. Many traders consider FundedNext to be a better FTMO alternative, and the company is growing its global user base rapidly. In this article, I’ll provide a comprehensive FundedNext review as someone who had been funded by the company in the past.

We’ll begin our FundedNext review by providing background information and a general introduction to the prop firm. Then, we will delve deeper into the firm by analyzing how it works, including the FundedNext challenges and funded accounts. We will also present the pricing structure of the prop firm and see what traders think about it by investigating the FundedNext reviews by users online. So, by the end of this FundedNext review, you’ll be able to decide whether the prop firm is for you.

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Key Takeaways

• FundedNext is a prop trading firm offering various challenge models (Stellar, Evaluation, Express) for traders to access capital by passing evaluations.
• FundedNext is known for relaxed trading conditions, high-profit splits (up to 95%), and multiple payout models, including bi-weekly payouts.
• Traders must meet profit targets and stay within drawdown limits to pass challenges. FundedNext offers various add-ons for more flexibility.
• FundedNext provides quick payouts and flexible options but has issues like high slippage, strict rules, and occasional account closure complaints.
• While FundedNext has a solid reputation and positive reviews, it is not available for US clients due to its unregulated status.

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What Is FundedNext?

Let’s begin our FundedNext review by introducing the firm. FundedNext is a prop trading firm providing traders with the opportunity to trade using the firm’s capital instead of their own. Yet, in order to get funded by FundedNext, you should first pass their evaluation system, which is comprised of challenges similar to those of other prop firms. Once you pass a FundedNext challenge, you will be awarded a funded account, which you can trade on and share the profits with the firm.

Founded in 2022, one of the primary reasons that led to FundedNext’s growing popularity is that traders believe the firm offers much more relaxed trading conditions, rules, and targets compared to other big prop firms like FTMO. While being relatively new to the prop firm industry, FundedNext is located in the United Arab Emirates, which allows it to access a global user base.

Read More: Which forex prop firms are legal in the US?

FundedNext Challenges

FundedNext offers three primary types of challenges, which include Stellar, Evaluation, and Express. In this section of our FundedNext review, I’ll briefly describe each model.

Read More: Are Prop Firm Passing Services Worth the Risk?

FundedNext Stellar Model

The FundedNext Stellar challenge is claimed to be the firm’s most trader-friendly evaluation model. Considering the relaxed trading conditions and achievable targets, this statement might just be true. Here’s a quick overview of the FundedNext Stellar challenge’s rules and targets, which can be a 1-step or 2-step evaluation model:

• Trading Period: This is the total amount of time you have to pass the challenge. The FundedNext Stellar challenge has no time limit for any phase.
  • Clearly, the trading period for the funded accounts is also unlimited.
• Minimum Trading Days: In order to pass this FundedNext challenge type, you should at least trade for 5 days in each phase of the 2-step Stellar model.
  • The minimum trading days for the 1-step Stellar model is 2 days.
  • There are no minimum trading days once you get funded.
• Maximum Daily Loss: The maximum drawdown allowable on both the 2-step Stellar challenge and the funded account is 5% of the day’s initial balance.
  • For the 1-step Stellar model, the maximum daily loss is 3% on both challenge and funded accounts.
• Maximum Overall Loss (Balance-Based): The total drawdown in this FundedNext challenge type is 10% of the initial account balance for the 2-step model, both during the challenge and once you get funded.
  • The maximum overall loss on the 1-step stellar model is 6% for challenges and funded accounts.
• Profit Target: The 2-step FundedNext Stellar model’s profit target for phase one is 8%. For the second phase, the profit target drops down to 5%.
  • The profit target for the 1-step FundedNext stellar model is 10%.
  • There will be no profit targets once you get funded.
• News Trading: News trading is allowed in both 1-step and 2-step FundedNext Stellar models during the challenge phases and on the funded account.
• Profit Split: Once you get funded with the 2-step Stellar model, the profit split (the fraction of profits you will earn) is initially 80%, which can grow up to 95% with the scaling plan.
  • The initial profit split for the 1-step Stellar model’s funded accounts is 90% and can rise up to 95% with scaling.
  • You will also earn 15% of the profits you generated during the challenge phase, alongside a full refund of the challenge fee with your first payout (or as soon as you reach 5% profit or more).
• Payout Time: You will be able to request your first payout 28 days after you start trading on the funded account. The next payouts can be requested after 14 days. Note that you should generate realized profits to be able to request a payout.

There are also add-ons you can buy at an extra cost when purchasing the Stellar challenge:

• Lifetime Payout 95%
• 150% Reward
• Double Up
• No Minimum Trading Days

Stellar Lite Model

The Stellar Lite model is a cheaper version of the 2-step FundedNext challenge with these conditions and rules:

• Trading Period: The Stellar Lite model’s trading period is also unlimited.
• Minimum Trading Days: The Minimum trading days for both phases in the Stellar Lite model is 5 days.
• Maximum Daily Loss: With the Stellar Lite model, you are allowed to have a maximum of 4% daily loss in each phase (challenge and funded account).
• Maximum Overall Loss (Balance-Based): The maximum overall loss in the Stellar Lite model is 8% during all phases (challenge and funded account).
• Profit Target: For the Stellar Lite model, the profit target for phase one is 8%, and for the second phase, it reduces to 4%.
• News Trading: News trading is allowed in the Stellar Lite model, both during the challenge phases and on the funded account.
• Profit Split: After getting funded with the Stellar Lite model, your profit split ratio will be 80% initially, but it can rise to 95% with scaling.
• Payout Time: You can request your first payout 21 days after you start trading on the Stellar Lite funded account. For the subsequent payouts, this period will be reduced to 14 days.

Moreover, you can purchase these add-ons for the Stellar Lite model at an extra cost:

• Lifetime Payout 95%
• Overall Loss Limit 10%
• Double Up
• No Minimum Trading Days
• Bi-Weekly Payout

FundedNext Evaluation Model

The FundedNext Evaluation challenge is the traditional, standard prop firm challenge with a time limit. Here’s a quick overview:

• Trading Period: The time limit for the first phase is 4 trading weeks. In the second phase, you will have 8 weeks.
  • There is no trading period limit for the funded accounts.
• Minimum Trading Days: You should trade for a minimum of 5 days in both phases of the FundedNext Evaluation challenge.
  • There will be no minimum trading days once you get funded.
• Maximum Daily Loss: You are allowed to lose a maximum of 5% during the challenge phases and on the funded account.
• Maximum Overall Loss (Balance-Based): The total drawdown in both challenge phases and the funded phase is 10%.
• Profit Target: The first phase’s profit target is 10%. In the second phase, the profit target drops down to only 5%.
  • In the funded phase, there are no profit targets.
• News Trading: News trading is allowed during the challenges and the funded phase.
• Profit Split: Once you get funded with the Evaluation model, your profit split ratio will be 80%, which can rise to 95% with scaling.
  • You will also receive 15% of the profits you made during the challenge phases, alongside a refund of the challenge fee with your first payout (or as soon as you reach 5% profit or more).
• Payout Time: You can request your first payout 28 days after your first trade on the FundedNext funded account. This period will be reduced to 14 days for the next payouts.

These are the add-ons you can purchase with the evaluation model at an extra price:

• Lifetime Payout 95%
• 150% Reward
• Double Up
• No Minimum Trading Days
• Bi-Weekly Payout

FundedNext Express Model

The FundedNext Express Model is the most distinct challenge type offered by the prop firm. Your goal in the FundedNext Express challenge is to hit a 25% profit target with no time limit. You will then get a FundedNext funded account with an initial 60% profit split. Here’s an overview of the Express model’s rules and conditions:

• Trading Period: The FundedNext Express challenge has no time limit.
  • There is also no time limit for the funded accounts.
• Minimum Trading Days: You should trade for a minimum of 10 days in order to pass.
  • There are no minimum trading days once you get funded.
• Maximum Daily Loss: The maximum daily loss for Express challenges and funded accounts is 5%.
• Maximum Overall Loss (Balance-Based): The total drawdown in the Express challenge phase and funded phase is 10%.
• Profit Target: The FundedNext Express challenge has a profit target of 25%.
  • In the funded phase, there are no profit targets.
• News Trading: News trading is NOT allowed during the Express challenge or the funded phase.
• Profit Split: Your first profit split ratio will be 60% with the Express model once you get funded. The ratio will rise to 75% and then 90% for consequent payouts. Note that the ratio can rise to 95% with the scaling plan.
  • You will also receive 15% of the profits you made during the challenge phases with your first payout (or as soon as you reach 5% profit or more).
• Payout Time: You can request your first payout 28 days after your first trade on the FundedNext funded account. This period remains 28 days for subsequent payout requests.

These are the add-ons you can purchase with the evaluation model at an extra price:

• Lifetime Payout 95%
• 150% Reward
• Double Up

For more information about FundedNext payouts, visit this page.

FundedNext Trading Platforms

The FundedNext prop firm allows you to trade on the most popular trading platforms available. Here’s an overview:

FundedNext Pricing Review

As you’ve already seen, FundedNext has various challenge models. This section of our FundedNext review is dedicated to analyzing the prices of all challenge types and account sizes.

The Stellar Lite model has different account sizes compared to other models. So, I’ve presented it in a separate table:

Note that the FundedNext maximum allocation is $300,000 across all funded accounts.

FundedNext Free Trial

FundedNext offers a free trial for different account sizes. The goal of the FundedNext free trial is to familiarize traders with the challenges’ environments. The FundedNext free trial has a time limit of 14 days, with a 5% profit target, 10% overall loss, and 5% daily loss. There’s also a minimum of 3 trading days.

FundedNext Reviews by Real Users

In order to have a fair FundedNext review, we should also analyze traders’ feedback on online forums like TrustPilot and Reddit.

FundedNext TrustPilot Reviews

FundedNext has a strong reputation on Trustpilot, with an impressive overall rating of 4.5 out of 5 stars based on over 18,000 reviews. The majority of FundedNext Trustpilot reviews praise the platform for its efficient and responsive customer support. Users also appreciate FundedNext’s trader-friendly trading conditions, flexible account options, and quick payout processes.

While the overwhelming feedback is positive, some Fundednext reviews on Trustpilot point to concerns regarding account closures and misunderstandings about trading rules. A few reviews mention delays and issues during the Know Your Customer (KYC) process. Yet, the overall view toward FundedNext is positive on Trustpilot.

FundedNext Reddit Reviews

FundedNext Reddit reviews present a mixed bag of opinions. Some users share positive experiences. They discuss how FundedNext has helped them access larger trading capital and achieve more AUM. They often highlight the firm’s unique features, such as bi-weekly payouts and flexible account options.

On the other hand, some Reddit users express skepticism about the firm’s rules and profit withdrawal policies. For instance, a particular FundedNext review on Reddit raised concerns about whether traders could still withdraw profits after breaching daily loss limits. This question sparked discussions about the fairness and practicality of such rules. Some traders feel that certain regulations seem designed to minimize payouts, leading to a sense of distrust toward the prop firm.

Our Opinion About FundedNext

As a trader myself, I’ve taken FundedNext Stellar challenges before and have been funded with the prop firm. So, I can offer a qualified opinion. Starting from the worst, the slippage and spread on FundedNext accounts can be very high. This is not good at all, especially for scalpers.

Yet, in terms of payouts and trading rules, I’ve never encountered a problem with FundedNext. Much like any other prop firm, if you stick to the rules and don’t give them any reason to take your account or refuse a payout, you will be able to have consistent payouts.

FundedNext Pros and Cons

Based on the expert opinions of the Traders Fund Hub team, my personal experience, and FundedNext reviews on Trustpilot and Reddit, here’s a summary of the pros and cons of trading with FundedNext:

Pros of FundedNext

So, what are the benefits of trading with FundedNext? Here are the most prominent:

• Flexible Trading Conditions: FundedNext offers relaxed trading conditions with various challenge types, creating a trader-friendly environment.
• High-Profit Splits: FundedNext profit splits can go up to 95% with scaling, with an initial split as high as 90% in some models.
• Multiple Challenge Options: As mentioned, the variety of FundedNext challenge models (Stellar, Evaluation, Express) make them suitable for different trading styles.
• Quick Payouts: Bi-weekly payouts are available, with some models offering initial payouts after just 21 days.

Cons of FundedNext

There are also some disadvantages when it comes to pursuing funding or trading as a funded trader with FundedNext, including:

• High Slippage and Spread: Significant slippage and spread, which can be particularly challenging for scalpers.
• Strict Rules: Some FundedNext Reddit reviews express concerns about stringent rules, such as daily loss limits.
• Account Closures: There are some complaints by traders about account closures and misunderstandings regarding trading rules.
• KYC Delays: A few users report delays and issues during the Know Your Customer (KYC) verification process.

Conclusion

As one of the most popular prop firms in recent years, FundedNext is arguably the best prop firm when it comes to the versatility of challenges. With various challenge types and accounts, a large portion of traders can go for funding from the prop firm to increase their AUM and potentially their income. Yet, while there are some issues with slippage, I can definitely suggest FundedNext to most traders.

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