Exclusive Offers Now Available on FUNDEDNEXT!
5% Exclusive Discount Code (FT5): Prove You're a Profitable Trader and Get up to $200,000 Under Management
|💰 Fees:||For FundedNext evaluation model, you pay for the challenge costs from $99 for a $15,000 funded account to $999 for a $200,000 funded account.|
|🚀 Profit split:||FundedNext pays out up to 90%. Your profit share will start at 60% in the express real account. After the first withdrawal, it will get bumped to 75%, and after the second withdrawal, it will again get bumped to 90%.|
|✔️ Evaluation:||You must need to meet at least 10% account growth accumulatively in four consecutive months in a real account. In these four consecutive months, you need to make a minimum of two payouts, and your last month should end in a profit.|
|🎯 Profit Target:||A trader must achieve a profit target of 25% during the express model evaluation period without exceeding the 5% daily maximum profit or 10% maximum loss limits.|
|⚓ Maximum drawdown (MDD):||Your maximum daily drawdown on any given day is 5% of your account balance|
|⌛ Trading Period:||There is no time limit or pressure to reach any profit target within a restricted period.|
|⚖️ Leverage:||FundedNext provides leverage of 1:100 to all trading accounts.|
|🔧 Instruments:||You can trade all the different assets that are available in the MT4, including Forex currency, raw feed, indices, and commodities.|
|📰 Allow Trade News:||Yes with FundedNext you can trade during news events.|
|🔄 Weekend Position:||Yes you are permitted to hold your trade overnight & over the weekend for the Evaluation program|
There has never been a better time to join a prop firm. The industry of prop firms (or “propriety firms”) is growing at an exponential rate as ever more traders seek to be recruited as funded traders with up to $1m in trading capital. The concept behind prop firms is simple: traders lacking capital can seek funding through a prop firm, with some companies offering up to $1 million to trade.
The profits from the firm’s capital are shared between the trader and firm, generally with an 80/20 split in the trader’s favor. Prop firms do not distribute funded accounts to any recruit. However, traders wanting to join a firm need to pass a series of internal evaluations (sometimes referred to as a “Challenge”) to prove their mettle and get verified. The latest to join the ring is a new platform: FundedNext. Who is FundedNext, how does their Challenge work and are they worth a punt?
First off, we will get an overview of the industry. Why are prop firms increasing in popularity and can any traders pass the Challenge?
Prop firm challenges, also known as trading challenges or evaluation programs, are increasing in popularity for several reasons:
Overall, prop firm challenges are becoming increasingly popular because they offer traders a unique opportunity to gain access to funding, develop their skills and strategies, and potentially build a career in trading. Now, who is FundedNext and should traders consider their platform?
In 2022, Next Ventures launched a new platform: FundedNext was live. The prop firm quickly made a name for itself by its generous capital allowance: a staggering $4 million was on the table for FundedNext traders who get to keep 90% of any profits made.
Let us take a moment to consider that offer. If you got a $4 million FundedNext account and trade profits of $500,000, you could be walking home with $400,000. Scratch that – you could be driving your new Ferrari home with your profits! FundedNext made instant waves in the prop firm circles with the potential capital on the table. Prop firms vary widely in funding levels, ranging from a few thousand dollars to several million but the industry average is between $25,000 to $250,000.
Traders looking to fast-track their funds would be well-positioned with FundedNext. The $4 million scale-up plan is far above the average offered by most prop firms and would suit ambitious traders looking to leverage their trades. Less-experienced traders with potential would also benefit from the platform, which is the first to offer a 15% profit share from the very beginning.
FundedNext has hit the prop firm ground running: in just a few short years they have established themselves in over 195 countries, paid out over $34 million in funding, and recruited over 32,000 traders. Their progress has not gone unnoticed either, while the new prop firm has already been featured in many major news outlets, including Bloomberg, Yahoo Finance, and Nasdaq.
There are two potential avenues to funding via the FundedNext platform.
FundedNext Firm Challenge review
The FundedNext challenge is renowned for its simplicity and ease of access. There is no lengthy onboarding process, nor do traders have to meet excessive trading rules throughout the Evaluation. FundedNext traders can access their accounts within seconds of signing up and begin trading right away.
The FundedNext platform welcomes diverse trading styles including swing trading, intraday trading, and scalping. Nor are traders banned from seeking expert advice or outside opinion throughout the assessment. In terms of what is on offer, FundedNext enables a decent range of tradeable assets, from exotic pairs to scalping and more, commissions are generously low, and the firm offers leverage of 1:100 across all accounts.
Prop firms appeal to many and for good reason, but there are cons as well as pros to this form of trading and FundedNext is no exception. Here are some of the pros and cons of FundedNext:
No prop firm is without its rules and requirements, and FundedNext traders need to demonstrate their ability not only to make consistent profits but to do so while appropriately managing risk. These skills are necessary to proceed to the verification stage and become a funded trader, but outside of the evaluation context, they will be useful learning for traders managing real funds.
The FundedNext rules are like those of most prop firms: traders must trade a minimum of 10 days a month. These need not be consecutive, however, and as a bonus, there is no maximum number of trades per month, you simply need to stay within your risk cap.
When it comes to when you can trade, there is a slight difference between the funding models. Traders who choose the Evaluation or the Express Consistency model can trade 24 hours a day, 5 days a week. Those trialing the Express non-Consistency account can hold trades overnight and over weekends.
Across all account types and sizes, there will be caps on the maximum daily loss and overall drawdown, and certain profit targets must be met. Similarly, traders managing all accounts except the non-consistency express account will have to meet the consistency rule requirement. This rule was designed to help traders mitigate risk by maintaining consistency every week. The consistency rule is initiated in week 2 and is determined week by week using an average of trading days, trades, and lot sizes. There is a helpful video explaining the consistency rule on the FundedNext site, alongside a breakdown of each rule.
Regarding the permitted trading instruments, traders are free to trade any instruments, assets, or position sizes available on their trading platform. In an extension of this freedom, any trading style or strategy is allowed.
Abdullah Jayed is the Founder and CEO of FundedNext and NEXT Ventures. Abdullah Jayed attended North South University.
Jayed has gained prominence for his successful ventures, including Growth Alliance, MoneyBackFX, and eComChef, which swiftly became market leaders in their respective domains. Building on his track record, he founded FundedNext, a multi-million dollar proprietary firm that is revolutionizing the prop firm industry on a global scale.
A strong advocate for supporting young and passionate individuals in pursuing their dreams, Jayed shares his values and works to empower others in their entrepreneurial journeys.
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