FundedNext is a proprietary trading firm that provides traders with access to up to $4 million in capital to empower them to reach their full potential.
What is FundedNext?
FundedNext, established in March 2022 by Abdullah Jayed, a prominent entrepreneur in the digital and retail trading sectors, is a proprietary trading firm that offers traders access to significant capital, with top traders handling up to $4 million. Headquartered in the UAE, with additional offices in the USA, UK, and Bangladesh, FundedNext provides initial capital of up to $200,000, allowing traders to grow their funds by meeting specific performance targets.
The firm offers a comprehensive trading environment with four distinct funding models: Two-step Stellar, One-step Stellar, Evaluation, and Express, each tailored to different trading strategies and experience levels. Traders benefit from a high profit-sharing arrangement, retaining between 80% to 90% of the profits they earn. This is facilitated through a partnership with Eightcap, their chosen broker, ensuring traders operate on an advanced and user-friendly platform.
Abdullah Jayed’s vision, manifested through his founding of Jayed Corp in 2016, is to create global employment opportunities and simplify life through innovation. This vision is evident in FundedNext, which supports ambitious individuals in pursuing their trading dreams. FundedNext invites traders with robust strategies to undergo an evaluation and, upon passing, manage substantial funds with the potential for lucrative profit splits as a testament to their commitment and performance.
How Does FundedNext Work?
FundedNext offers a streamlined pathway for traders to access substantial trading capital through two primary models: Evaluation and Express.
The Evaluation model stands out for its structured approach, allowing traders to demonstrate their skills in a controlled environment before accessing larger funds. This model benefits those who prefer to prove their trading acumen through a test-like scenario.
In contrast, the Express option caters to traders seeking a more direct route to funded accounts. This model is ideal for confident traders looking for quicker access to capital. Both models are designed to support trader growth, offering varying levels of challenge and reward.
FundedNext’s integration with MetaTrader ensures a familiar and reliable platform, enhancing the trading experience with low commissions and competitive spreads. Combined with a focus on trader-friendly leverage, FundedNext positions itself as a versatile and accommodating proprietary trading firm for diverse trading needs.
FundedNext Features
FundedNext offers several notable features that distinguish it from other online forex prop firms. Here are the most impactful benefits:
Fast Account Access: Unlike some prop firms that may take days or weeks to grant access to a funded account, FundedNext provides flexibility, allowing successful and confident traders to quickly access a funded account in just minutes.
Realistic Profit Targets: Challenging profit targets can be a significant hurdle during a prop firm challenge. FundedNext keeps trading requirements reasonable, with realistic trading objectives and straightforward rules.
Low Commissions and Raw Spreads: Successful forex trading relies heavily on low commissions and spreads. FundedNext offers many assets for trading with reasonable commissions and raw spreads, enabling trading strategies like exotic pair trading and scalping.
Good Leverage: FundedNext provides leverage up to 1:100 for all trading accounts, allowing traders to use appropriate lot sizes even with small stop losses, enhancing trading flexibility.
Mobile Apps: Unlike many prop firms, FundedNext offers an Android app, allowing traders to stay on track while on the go. An iOS app is also in development and will be available soon on the App Store.
Discord Community: FundedNext boasts a robust and active trader community on Discord, providing a valuable space for learning and exchanging trading strategies.
FundedNext Account Types
FundedNext Challenge: Evaluation
The Evaluation process is one of the pathways to obtain a funded account with FundedNext. It consists of two phases, each requiring traders to meet specific profit targets within a designated trading period without exceeding drawdown limits.
Phase 1
Daily Drawdown: Maximum of 5% of the initial account balance.
Overall Drawdown: Maximum of 10% below the initial account balance.
Profit Target: 10%
Trading Period: Achieve the profit target within 4 trading weeks.
Minimum Trading Days: Open trades on at least 5 different days.
Phase 2
Daily Drawdown: Maximum of 5% of the initial account balance.
Overall Drawdown: Maximum of 10% below the initial account balance.
Profit Target: 5%
Trading Period: Achieve the profit target within 8 trading weeks.
Minimum Trading Days: Open trades on at least 5 different days.
FundedNext Challenge: Express
The Express model simplifies the process with a single phase and no time limit to achieve the profit target, allowing for rapid funding.
Daily Drawdown: Maximum of 5% of the initial account balance.
Overall Drawdown: Maximum of 10% below the initial account balance.
Profit Target: 25%
Trading Period: No maximum time limit.
Minimum Trading Days: Open trades on at least 10 different days every 4 weeks.
FundedNext Challenge: Stellar 1-Step
This model involves a single phase and allows traders to get funded quickly, with no time limit to complete the challenge.
Daily Drawdown: Maximum of 3% of the initial account balance.
Overall Drawdown: Maximum of 6% below the initial account balance.
Profit Target: 10%
Trading Period: No maximum time limit.
Minimum Trading Days: Open trades on at least 2 different days.
FundedNext Challenge: Stellar 2-Step
This challenge includes two phases and offers a fast path to funding with no time limit to complete the challenge.
Daily Drawdown: Maximum of 5% of the initial account balance.
Overall Drawdown: Maximum of 10% below the initial account balance.
Profit Target: 8% in Phase 1 and 5% in Phase 2.
Trading Period: No maximum time limit.
Minimum Trading Days: Open trades on at least 5 different days.
FundedNext Challenge: Stellar Lite
The Stellar Lite challenge also involves two phases and provides a rapid path to funding with no time limit to complete the challenge.
Daily Drawdown: Maximum of 4% of the initial account balance.
Overall Drawdown: Maximum of 8% below the initial account balance.
Profit Target: 8% in Phase 1 and 4% in Phase 2.
Trading Period: No maximum time limit.
Minimum Trading Days: Open trades on at least 5 different days.
What Brokers Does FundedNext Use?
FundedNext collaborates closely with the Melbourne-based broker Eightcap. Licensed by the Australian Securities and Investments Commission (ASIC), Eightcap was established in 2009 to provide top-notch financial services.
Over the years, Eightcap has expanded to include five global offices and holds regulatory credentials in multiple regions, allowing clients worldwide to access diverse markets. Their offerings include Forex trading, CFD trading, and cryptocurrency trading, as well as social trading and copy-trading services. With a total of 326 tradable symbols and 45 specific Forex pairs, Eightcap provides a broad range of trading opportunities.
Eightcap offers two distinct account types: Raw and Standard. The Standard account embeds fees within the spread, while the Raw account applies fees as commissions.
All trading through Eightcap is conducted via MetaQuotes Software Corporation’s platforms: the well-established MetaTrader 4 and its newer version, MetaTrader 5. If you are familiar with these platforms, you will find Eightcap’s offerings easy to navigate and use.
FundedNext Pricing & Plans
FundedNext offers competitive pricing and a variety of plans. Here’s an overview of a $25,000 Evaluation account with MetaTrader 5:
$25k Evaluation Account (MetaTrader 5)
Maximum Daily Loss: $1,250
Maximum Overall Loss: $2,500
Reset Fee: 90%
Minimum Trading Days: 5
Trading Leverage: 1:100
One-time Fee (refundable): $199
For more details on this and other accounts, be sure to check directly with FundedNext.
FundedNext Customer Support
FundedNext prioritizes stellar customer service and has structured its support to meet traders’ needs effectively. Whether you have detailed inquiries or need quick clarifications, FundedNext has you covered.
They offer live chat support on their website and app, ensuring swift responses for instant answers. For more detailed queries, their specialized email support team is ready to assist.
For those not in a hurry, the website features a contact form. Once submitted, you can expect a comprehensive email follow-up. However, one drawback is the absence of direct phone support.
Staying updated with FundedNext is easy thanks to their active presence on Facebook, Twitter, Instagram, and YouTube. This ensures that traders are always informed about the latest news, announcements, and insightful content. Additionally, their customer service team operates around the clock, guaranteeing assistance at any time of the day.
Risk Management and Trading Strategy at FundedNext
FundedNext places a strong emphasis on risk management, a critical component of successful trading. The firm’s rules and guidelines are designed to encourage traders to adopt prudent risk management strategies, helping them navigate the volatile world of forex trading effectively. This approach not only protects the trader’s capital but also aligns with FundedNext’s ethos of promoting sustainable trading practices.
FundedNext’s trading environment supports a variety of trading strategies, whether you prefer scalping, swing trading, or long-term positional strategies. The platform and trading conditions are conducive to exploring and executing these strategies efficiently.
The firm’s support for diverse trading styles, combined with its robust risk management framework, makes it an ideal choice for traders looking to develop and refine their trading approach in a supportive environment.
Community and Learning Resources at FundedNext
One of FundedNext’s standout features is its commitment to building a supportive trading community. The firm’s active Discord channel offers a space for traders to exchange ideas, share experiences, and learn from each other. This community aspect is crucial, especially for new traders who can gain valuable insights and encouragement from more experienced peers.
In addition to community support, FundedNext provides a range of learning resources. These include educational webinars, trading tutorials, and market analysis, all designed to enhance traders’ knowledge and skills. FundedNext’s focus on continuous learning and development reflects its commitment to empowering traders and providing them with the tools and information necessary to succeed in the competitive world of forex trading.
Is FundedNext Worth It?
FundedNext is a compelling option for traders interested in a forex prop firm. This review highlights FundedNext’s many features, including an active Discord community, trader-friendly leverage, and fast account access. Additionally, FundedNext boasts a 4.7/5 rating on Trustpilot, assuring traders of its credibility.
Is FundedNext Right for You?
FundedNext appeals to a broad spectrum of traders, offering a blend of inclusivity and proficiency. Novice traders will appreciate the supportive environment and gradual learning curve, while experienced traders can benefit from higher capital limits and scaling opportunities. Key features include flexible funding models, competitive profit splits, and an active community on Discord.
FundedNext’s structured approach to trading, coupled with educational resources and regular updates, makes it a comprehensive choice. The firm’s commitment to personalizing the trading experience is evident through designated account managers and responsive customer support, ensuring traders feel guided and supported.
Additionally, FundedNext’s scaling plan presents a compelling opportunity for consistent performers, allowing them to expand their trading capital. The firm’s transparent operations and emphasis on trader success make it a noteworthy contender for anyone looking to join a forex prop firm.
FundedNext FAQs
What is FundedNext?
FundedNext is a proprietary trading firm established in March 2022 by Abdullah Jayed. It provides traders with access to significant trading capital, up to $4 million for the most skilled traders, intending to empower traders to reach their full potential. Headquartered in the UAE, FundedNext also has offices in the USA, UK, and Bangladesh.
What brokers does FundedNext use?
FundedNext collaborates closely with Eightcap, a Melbourne-based broker licensed by the Australian Securities and Investments Commission (ASIC). Eightcap offers Forex, CFD, and cryptocurrency trading, as well as social and copy-trading services, through MetaTrader 4 and MetaTrader 5 platforms.
Does FundedNext offer a free trial?
Yes, FundedNext offers a free trial. Traders receive a 1-step account and 14 days to trade and test the platform before committing to a challenge.
How does FundedNext support risk management and trading strategies?
FundedNext emphasizes prudent risk management, providing guidelines to help traders navigate forex trading effectively. The platform supports various trading strategies, including scalping, swing trading, and long-term positional strategies, offering flexibility and robust risk management.
How is FundedNext’s customer support?
FundedNext provides excellent customer support through live chat on their website and app, specialized email support, and a contact form for detailed inquiries. They are also active on social media platforms like Facebook, Twitter, Instagram, and YouTube, ensuring traders stay updated and informed.
Is FundedNext worth it?
FundedNext is worth considering for traders interested in a forex prop firm. With features like an active Discord community, trader-friendly leverage, fast account access, and a high Trustpilot rating, it offers a credible and supportive trading environment.
