FundedNext Review

FundedNext Introduction

The certification report on FundedNext, established in March 2022 in Ajman, UAE, under CEO Abdullah Jayed, outlines various trading programs with specific conditions for investors. These include the Evaluation challenge, requiring two phases to earn a funded account, and Express and Stellar programs, each with unique profit goals and drawdown limits. Investors can opt for swap-free accounts or a 95% profit split at additional costs. FundedNext uses its unique broker and manages its own MT4/MT5 servers.

Key features include varied trading rules for significant events, robot usage, and weekend cryptocurrency trades. The terms and conditions, alongside the managed account agreement, highlight FundedNext’s broad discretion in trading practices and limited liability, which potential users should consider. Trustpilot reviews on withdrawal processes are mixed.

FundedNext offers robust customer support and an extensive FAQ section. The website is user-friendly and provides educational materials. The company is active on social media, offering diverse content and engages users with trading competitions and an affiliate program.

Company Profile

FundedNext

Location of Operations:

Office no. 7, AI Robotics HUB, C1 Building, AFZ, Ajman, United Arab Emirates

Company Info:

Date of Incorporation: 18th of March, 2022

Type: Financial Services

Restricted countries:

Bangladesh, North Korea, Syria, USA

CEO:Abdullah Jayed is the Founder and CEO of the FundedNext. He is also the CEO of eComChef, CEO of MoneyBack FX and Founder & CEO of NEXT Ventures.
Linkedin: https://bd.linkedin.com/in/meetjayed

Key Information

2-phase Challenge

Challenge name	Stellar Challenge (Swap Account)
$100k Challenge Fee	$493 (after discount)
FX leverage	1:100
EA trading	Yes
News trading	Yes
Weekend holding	Yes

FundedNext in Detail

Challenge type

Stellar Challenge 2-step

The Stellar Challenge involves two phases to qualify for a proprietary trading funded account. Investors can choose only Dollar, with six account sizes. The maximum total funds available is $300,000.

Phase one requires an 8% profit with, daily drawdown up to 5%, overall drawdown up to 8%. There are also no limits regarding the maximum number of trading days and 5 minimum trading days.

Phase two involves a 5% profit with similar drawdown conditions. The funded account phase has no specific profit targets, daily drawdown up to 5%, overall drawdown up to 8%, and 5 minimum trading days.

Advancement grants a 100% refundable fee (150% with Add-On), with additionally 15% from challenge phases. The first withdrawal possible after 28 days. Subsequent withdrawals also can be made every two weeks, and the profit split is 80/20 (scalable to 90/10). Traders have the option to select a 95% lifetime payout add-on for an additional fee of 20%.

Trading overnight	Yes
Trading during weekends	No
News Trading	Yes
EA Trading	Yes
Cryptocurrencies	Yes

Stellar 1-Step

The Stellar Challenge  involves one phase to qualify for a proprietary trading funded account. Investors can choose only Dollar, with six account sizes. The maximum total funds available is $300,000.

Phase one requires an 10% profit with, daily drawdown up to 3%, overall drawdown up to 6%. There are also no limits regarding the maximum number of trading days and 2 minimum trading days.

Advancement grants a 100% refundable fee (150% with Add-On), with additionally 15% from challenge phases. The first withdrawal possible after 5 days. Subsequent withdrawals also can be made every 5 days, and the profit split is 90/20. Traders have the option to select a 95% lifetime payout add-on for an additional fee of 20%.

Trading overnight	Yes
Trading during weekends	No
News Trading	Yes
EA Trading	Yes
Cryptocurrencies	Yes

Express Consistency

The Stellar Challenge  involves one phase to qualify for a proprietary trading funded account. Investors can choose only Dollar, with six account sizes. The maximum total funds available is $300,000.

Phase one requires an 25% profit with, daily drawdown up to 5%, overall drawdown up to 10%. There are also no limits regarding the maximum number of trading days and 10 minimum trading days.

Advancement grants a 100% refundable fee (150% with Add-On), with additionally 15% from challenge phases. The first withdrawal possible after 28 days. Subsequent payouts can be made every month. The first Profit Split on Express accounts is 60/40. The second profit split, the profit share is 75/25. During the third and subsequent profit splits, the investor receives 90%. Traders have the option to select a 95% lifetime payout add-on for an additional fee of 30%.

Trading overnight	No
News Trading	No
Leave positions open during weekends	No
EA Trading	Yes
Cryptocurrencies	Yes

Express Non-Consistency

The Stellar Challenge  involves one phase to qualify for a proprietary trading funded account. Investors can choose only Dollar, with five account sizes. The maximum total funds available is $300,000.

Phase one requires an 25% profit with, daily drawdown up to 5%, overall drawdown up to 10%. There are also no limits regarding the maximum number of trading days and 10 minimum trading days.

Advancement grants a 100% refundable fee (150% with Add-On), with additionally 15% from challenge phases. The first withdrawal possible after 28 days. Subsequent payouts can be made every month. The first Profit Split on Express accounts is 60/40. The second profit split, the profit share is 75/25. During the third and subsequent profit splits, the investor receives 90%. Traders have the option to select a 95% lifetime payout add-on for an additional fee of 30%.

Trading overnight	Yes
Leave positions open during weekends	Yes
News Trading	No
EA Trading	Yes
Cryptocurrencies	Yes

Evaluation

The Evaluation  involves two phases to qualify for a proprietary trading funded account. Investors can choose only Dollar, with six account sizes. The maximum total funds available is $300,000.

Phase one requires an 10% profit with, daily drawdown up to 5%, overall drawdown up to 10%. There are also limits regarding the maximum number of 28 days  and 5 minimum trading days.

Phase two involves a 5% profit with similar drawdown conditions. The funded account phase has no specific profit targets, daily drawdown up to 5%, overall drawdown up to 10%. There are also limits regarding the maximum number of 56 days and 5 minimum trading days.

Advancement grants a 100% refundable fee (150% with Add-On), with additionally 15% from challenge phases. The first withdrawal possible after 14 days. Subsequent withdrawals can be made every two weeks, and the profit split is 80/20 (scalable to 90/10). Traders have the option to select a 95% lifetime payout add-on for an additional fee of 20%.

Trading overnight	Yes
Leave positions open during weekends	Yes
News Trading	Yes
EA Trading	Yes
Cryptocurrencies	Yes

Scaling Plan

Rate: 4.0

FundedNext introduces a Scale-Up plan tailored for traders who consistently demonstrate their trading prowess and adhere to established trading guidelines. The Scale-Up plan offers traders the opportunity to amplify their trading endeavors, with the potential to access a capital allocation of up to 4 million. The eligibility criteria for participation in the Evaluation, Express, or Stellar Models remain consistent, simplifying the application process.

Review Process & Eligibility Criteria:

Traders seeking to scale up their trading activities with FundedNext must meet specific eligibility criteria within a FundedNext account over a four-month period:

• Achieve a minimum accumulated account growth of 10% in four consecutive months.
• Receive at least two payouts within these successive four months.
• Ensure that the last trading cycle concludes with a profit.

FundedNext accounts, including Evaluation, Express, and Stellar, undergo a review every four months. Traders who successfully meet the outlined eligibility criteria become eligible for a 40% increase in their account balance, with a maximum limit of 4 million. For Evaluation and Stellar FundedNext accounts, the profit share for users also increases to 90/10.

It is important for traders to note that once their FundedNext account becomes eligible for Scale Up on the account with 95% Profit Split Add-On, the account balance will increase by 40% of the initial balance, while the payout percentage will remain unchanged at 95%.

Challenge Fees

Rate: 4.2

Comparison of Direct Challenge Costs

We compare the direct costs of participating in the challenge offered by FundedNext – Stellar Challenge Swap Account with the average market costs. This analysis enables understanding of how FundedNext fares against its competitors in terms of pricing. The costs for the challenge at FundedNext for the Stellar Challenge Swap Account are below the market average.

*The price includes a discount available on the website.

Challenge Size	Market Average Price	Challenge Price	Difference
6 000$	56$	56$*	0
15 000$	110$	113$*	+3$
25 000$	209$	189$*	-20$
50 000$	310$	284$*	-26$
100 000$	515$	493$*	-22$
200 000$	969$	949$*	-20$

Comparison of Costs Relative to Drawdown

It is important to note that the size of drawdown has a significant impact on what we actually receive for the money spent. The Stellar Challenge Swap Account has a drawdown at the level of 10%. Therefore, we additionally compare how much drawdown we receive in relation to the dollar spent.

Challenge Size	Market Average Price [Drawdown$/$]	Challenge Price [Drawdown$/$]	Difference [Drawdown$/$]
6 000$	10,7	10,7	0
15 000$	13,6	13,3	-0,3
25 000$	11,4	13,2	+1,8
50 000$	15,4	17,6	+2,2
100 000$	18,5	20,3	+1,8
200 000$	20,4	21,1	+0,7

Evaluation of the Cost-Effectiveness of the Stellar Challenge Swap Account

Based on the above data, as well as algorithms we have developed, we assess the cost-effectiveness of purchasing the Stellar Challenge Swap Account as good compared to the market average.

Assets

Forex

AUDCAD	AUDCHF	AUDJPY	AUDNZD	AUDSGD
CADCHF	CADJPY	CHFJPY	EURAUD	EURCAD
EURCHF	EURGBP	EURHKD	EURHUF	EURJPY
EURNOK	EURNOK	EURNZD	EURSGD	EURTRY
EURUSD	GBPAUD	GBPCAD	GBPCHF	GBPJPY
GBPNZD	GBPSGD	GBPUSD	MXNJPY	NOKJPY
NZDCAD	NZDCHF	NZDJPY	NZDSGD	SGDJPY
USDCAD	USDCHF	USDCNH	USDDKK	USDHUF
USDJPY	USDMXN	USDNOK	USDPLN	USDSGD
USDTRY	USDZAR	ZARJPY	NZDUSD	USDHKD

Metals and Oil

XAGUSD

XAUUSD

XPTUSD

UKOUSD

USOUSD

Indices

AUS200	EUSTX50	FRA40	GER30	HK50
SPX500	NDX100	NTH25	SWI20	UK100
US30	US2000	JP225

Cryptocurrencies

BTCUSD	ETHUSD	BCHUSD	LNKUSD	LTCUSD
XMRUSD	DOGUSD	ADAUSD	XLMUSD	XRPUSD

UX Rating

Rate: 3.3

FundedNext’s website has some strong points, but it also faces several issues that need attention. The site does a decent job in showcasing its proprietary trading services and trading challenges. 

However, the way this information is organized and presented could be much clearer and easier for users to understand and find. One noticeable problem is with the website’s design. The colors and branding are not consistent across different pages and sections. This inconsistency creates a disjointed feeling when moving through the website. Another area that requires improvement is the dashboard navigation. It’s not very user-friendly and makes it hard for users to quickly find key information or access the trading challenges they are interested in. 

On the brighter side, FundedNext has made the registration process on their website quite straightforward. This is a positive aspect, especially for new users who want to get started without any hassle. In summary, while FundedNext’s website has potential and some aspects like easy registration are commendable, it certainly would benefit from a more unified design and a more intuitive navigation system to enhance overall user experience.

Trading Conditions

Server Provider

FundedNext uses its unique broker and manages its own MT4/MT5 servers. Users can access these servers under names such as ‘FundedNext – Server’ or ‘FundedNext – Demo’. Additionally, FundedNext is partnered with multiple top-tier liquidity providers like GrowthNext to offer a trading environment that closely simulates real market conditions. Unfortunately FundedNext does not disclose comprehensive details about its liquidity providers but assures collaboration only with well-regarded entities. MT4 users can choose between FundedNext servers, while MT5 users can choose between FundedNext and GrowthNext servers.

Proprietary servers and brokers, as employed by prop trading firms like FundedNext, offer both benefits and drawbacks. Advantages may include reduced position fees and better server reliability, as these servers are dedicated to serving the firm’s trading clients. However, owning proprietary servers may also elevate risks such as potential price manipulation or delays, an issue brought to light by incidents like that with MyForexFunds.

Due to the unavailability of direct reviews about FundedNext liquidity providers, our analysis focused on FundedNext Trustpilot reviews, particularly regarding server provider related topics. Our team analyzed 20 pages of Trustpilot reviews sorted from newest to oldest to sort out required data. The analysis of the reviews collected from Trustpilot about the server provider in question reveals a dichotomy of experiences among the users. The reviews can be categorized into two distinct themes: negative experiences and positive experiences.

Positive Experiences:

Platform Efficiency: Contrasting the negative reviews, some users have praised the platform for its low slippage, low spread, and efficient trading experience.

Negative Experiences:

Scam Accusations: Multiple reviews label the company as a scam, citing issues such as hidden charges, high slippage, and manipulation of trades. Customers reported unsatisfactory responses or no responses from the company when issues were raised.

Technical and Operational Issues: Complaints include malfunctioning trading servers, untriggered stop losses, and trades being executed incorrectly. These technical glitches seem to contribute significantly to the traders’ losses and frustrations.

Transparency and Trust Issues: There are repeated mentions of the company not being transparent in its operations. Issues like resetting accounts without proper justification and discrepancies in trade execution compared to other platforms have been highlighted.

Deposits and Withdrawals

Deposits

FundedNext accepts all major credit, bank, and cryptocurrency cards. Once you make a payment, you will immediately gain access to your account. Besides card payment FundedNext accepts transfers via bank, with no commission fee, Perfect Money for 1% commission fee and Cryptocurrencies for 3% commission fee. FundedNext cryptocurrencies such as:

Binance Coin	Bitcoin	Dogecoin	Ethereum	Litecoin
Tron	USD Coin	Tether

The fee is refundable upon the first withdrawal; otherwise, fees are non-refundable once trading commences on the FundedNext.

Withdrawals

In the Evaluation Challenge Phases of FundedNext , a trader’s profit share will progressively increase, beginning at 15% during the Challenge Phase and potentially reaching up to 90% (95% with Add-On) in the FundedNext account. Additionally, users will be eligible for a refund of their subscription fee upon the first payout in their FundedNext account.

Payout Details for FundedNext Various Challenges: 

Evaluation Challenge:

Phase 1 and 2: Compliance with all rules entitles the trader to a 15% profit share from these phases. Withdrawal is possible after achieving a 5% growth in the FundedNext account.

FundedNext Account: Upon receiving the FundedNext account, the profit share increases to 80% (95% with Add-On). The first payout occurs after four trading weeks (28 days), followed by biweekly payouts every 14 days. The subscription fee refund is included in the first payout. The profit share reaches 90% upon meeting all scale-up criteria.

Express Challenge:

Challenge Phase: Adhering to all rules results in a 15% profit share every 28-day trading cycle until the trader achieves a 25% profit in the Challenge account.

FundedNext Account: Upon reaching a 25% profit, traders receive an Express FundedNext account with an increased profit share. The first withdrawal grants 60% (95% from the first profit split and onwards with Add-On) of the profit, followed by 75%, and then 90% in each subsequent 28-day trading cycle. The subscription fee refund is included in the first payout.

Stellar Challenge:

1-Step Challenge Phase: Compliance with all rules leads to a 15% profit share, accessible after a 5% account growth.

1-Step FundedNext Account: Receiving this account boosts the profit share to 80% (95% with Add-On). Payouts occur every 14 days starting from the first cycle. A subscription fee refund is included in the first payout. Meeting all scale-up criteria increases the profit share to 90%.

2-Step Challenge Phase 1 and 2: Compliance with all rules in these phases entitles the trader to a 15% profit share, withdrawable after a 5% growth in the FundedNext account.

2-Step FundedNext Account: Upon receiving the FundedNext account, the profit share increases to 80% (95% with Add-On). The first payout is after four trading weeks (28 days), followed by biweekly payouts. The subscription fee refund is provided in the first payout. Fulfilling all scale-up criteria elevates the profit share to 90%.

Reviews on Withdrawals

The reviews on Trustpilot about FundedNext’s withdrawal process are varied. Positive feedback often praises the quick withdrawal times, typically within 24 hours. However, negative reviews frequently cite issues related to non-payment, alleging trade copying from another account without substantial proof.

Support

FundedNext provides customer support through email, live chat and messenger. Below is a list of available channels:

• Physical Office Address – Office no. 7, AI Robotics HUB, C1 Building, AFZ, Ajman, UAE.
• Email ID – support@fundednext.com
• Live Chat – Directly available from the site.
• Help Center – https://help.fundednext.com/en/
• FundedNext Support Timings – 24/7 via email and live chat.

Email Support

Customers can contact FundedNext via email. This is a useful option if you require a formal response to your queries. Responses from support are substantive. The average response time for this communication method is one business day. Therefore, it is recommended to use live chat support for much faster assistance.

Live Chat Support

FundedNext offers a live chat option on its official website. This is a quick and efficient way to get help from their support team. Their live chat is one of the fastest in the industry, with an average waiting time of 1-2 minutes for a response. To connect with customer service, users need to select the exact question area by completing a quick in-chat survey. Responses are substantive, and users can ask for details on an ongoing basis. Conversations are smooth without downtime. This option is recommended for quick responses on questions regarding FundedNext.

Social Media and Communication

FundedNext actively maintains a social media presence on platforms such as Facebook, Instagram and X, as well as on Discord and Youtube.

Facebook	https://www.facebook.com/groups/fundednex/
Instagram	https://www.instagram.com/fundednext/
X	https://twitter.com/FundedNext
Discord	https://discord.com/invite/PJF2mKXEM7
Youtube	https://www.youtube.com/@FundedNext/featured

Facebook – The Facebook group serves as a space for official announcements and a community hub where traders can share their accomplishments and trading results. 

Instagram – FundedNext’s Instagram page is a vibrant and dynamic platform, showcasing a wide array of content including client payouts, interview announcements, and competition updates.

X –  On X, FundedNext is actively engaged in promoting campaigns, sharing updates, news, and interactive posts. 

Discord – The Discord server is a rich source of information, offering event announcements, community chats, trading discussions, and various promotions. 

Youtube – FundedNext’s YouTube channel adopts a podcast-like approach, featuring interviews, informative videos in various languages, and updates about the company’s activities, including giveaways and tournaments.

Engagement rate in social media:

Platform	Followers	Engagement Rate
Facebook	69600	25,4
X	92700	0,29
Instagram	24000	1,29
Youtube	54300	0,62

Client Reviews Summary

Rate: 4.7

Review platform	Rating	Number of reviews
Trustpilot	4.7	10570

With an overall rating of 4.7 out of 5, FundedNext demonstrates a predominantly positive reception among its user base, reflecting well on various aspects of its operations. This high rating suggests that the positive experiences significantly outweigh the negative ones for the majority of users. 

Customers both praise and criticize customer service. As an advantage, customers often commend the quick and helpful response from the support team, as well as an active and supportive community on Discord. However, as a disadvantage, there are complaints about the lack of responses to emails, the lack of assistance in solving problems, and the unavailability of support in the case of company errors.

Positive Aspects:

• Supportive Community: The company has a very supportive Discord community where users can get quick answers to their questions. This fosters a sense of unity and ease among the community members.
• User-Friendly Platform and Tools: Customers appreciate the ease of use of the company’s dashboard and the clarity of the trading rules. The platform is also praised for its advanced technology and tools that aid in trading.
• Flexible and Trader-Friendly Policies: The company is noted for its flexible policies, like unlimited time to complete evaluations and trader-friendly requirements. They are also recognized for providing various options like choosing between MT4 and MT5 trading platforms.
• Reliability and Speed of Transactions: Customers are satisfied with the fast execution of market orders, friendly spreads, and swift payout processes. There’s also a mention of the company’s reliability in terms of financial transactions and its commitment to trader success.

Negative Aspects:

• Technical Problems with the Platform: Users experience technical issues such as server outages, improper functioning of the platform (e.g., not considering stop loss or take profit orders), and discrepancies between the platform’s charts and other sources.
• Problems with Financial and Account Management: Experiences related to improper charging of accounts, difficulties in obtaining refunds, issues with receiving account details, and manipulative account management practices.
• Accusations of Manipulation and Unfair Practices: Allegations regarding manipulation of transactions, especially during profitable periods, and aggressive price fluctuations.
• Misleading Promotions and Policies: Customers point out misleading promotions and policy changes without clear communication, for example, changes in profit targets.

Additional Features

Competition

The FundedNext Trading Competition is a monthly event designed to provide traders from all backgrounds with an opportunity to participate in a competitive and open challenge. This competition enables participants to showcase their trading skills and offers exclusive prizes as rewards. It’s important to note that participation in the FundedNext Trading Competition is entirely free of charge, without any associated fees or expenses.

The competition commences on the 1st day of each month and concludes on the last day of the same month, allowing traders to engage in a month-long test of their trading prowess. To ensure fair and transparent competition, the event enforces a set of rules that all participants must adhere to. These rules include:

• Single Account Registration: Each participant can register only one account, using a unique email address and IP address. Attempting to register multiple accounts results in disqualification.
• Daily Drawdown Limit: Traders should not exceed a daily loss limit of 5% of their initial account balance. The calculation for this limit is as follows: Daily loss limit = (Last day’s Balance – Today’s Balance) / Equity.
• Maximum Allowable Drawdown: The competition establishes a maximum allowable drawdown of 10% of the initial balance, and participants are required to stay within this limit.
• Prohibited Use of EAs: Expert Advisors (EAs) are not permitted in the competition. Participants must engage in manual trading only.
• Minimum Trading Days: To be eligible for winning prizes, participants must actively trade for a minimum of 5 days during the competition period.
• Leverage: The competition follows standard leverage levels of 1:100 for all FX pairs, 1:30 for commodities and indices and 1:2 for cryptocurrencies.
• Position and Lot Size Limits: Traders are encouraged to open multiple positions, but they are limited to executing a maximum of 5 positions at any given time. Lot size limits are set at 5 lots for FX instruments and 3 lots for indices and commodities.
• Trade Closure: There are no restrictions on closing trades, and traders can opt to hold positions overnight or over the weekend.

It’s important to note that the competition runs continuously throughout the entire month without scheduled resets. Daily calculations, including the daily drawdown, are reset at 00:00 GMT+3, but this doesn’t affect participants’ overall trading progress or account balance.

The FundedNext Trading Competition offers rewards to participants based on their performance. The top 100 traders, as well as those ranked from 101st to 600th, have the chance to win various rewards.

Account Overview

The Account Overview application on the website provides tools to monitor progress in the competition. It includes sections for basic information (like initial balance and account type), stats (like current balance and trading days), and trading objectives (like loss limits and profit targets), helping traders manage their challenges and strategies.

Trading Overview

The Trading Overview application, integrated into the platform’s Client Area, offers traders a comprehensive set of tools to monitor and evaluate their trading performance. Key components include:

1. Detailed Stats: This section provides a textual display of important statistics like current equity, account balance, profitability, win/loss rates, number of trades, total lots, Risk-Reward Ratio (RRR), profit factor, and records of best/worst trades, successful long/short trades, and gross profit/loss.
2. Analytics: Offers visual data representation, allowing traders to filter information by date ranges. It includes statistical graphs on symbol performance, profit and loss (PnL) patterns by weekday and hours, PnL order type distribution, and win/loss ratios.
3. Trading History: Allows traders to review trade activities during the current cycle, with detailed information on specific trades accessible via a “View” button.

FundedNext Trade Manager

The FundedNext Trade Manager, accessible in the Utilities Tab of the platform’s Client Area, is a downloadable tool designed to enhance trading precision and control. It allows traders to efficiently manage active and pending orders, make modifications to ongoing orders, and provides real-time account statistics such as balance, equity, and drawdown status.

Supply & Demand indicator

The FundedNext Supply & Demand indicator is a notable trading tool that can be conveniently downloaded via the platform’s Client Area, accessible within the Utilities Tab. Once acquired and integrated into your preferred trading platform, like MT4, this indicator becomes an invaluable asset for traders.

The primary functionality of this indicator is to visually display crucial supply and demand levels on your trading platform’s charts. These levels are typically denoted by distinctive blue and red lines, making them easily distinguishable. The blue lines represent supply zones, while the red lines signify demand zones.

Summary

FundedNext, established in March 2022, has quickly gained recognition in the prop trading sector. The company offers a variety of trading programs, including the Evaluation Challenge as well as Express and Stellar programs, each with unique profit goals and drawdown limits. These programs include both one-phase and two-phase options.

The number of reviews on Trustpilot exceeds 10,000, with an impressive rating of 4.7. It’s worth mentioning that FundedNext has a good scaling plan. FundedNext is distinguished by its solid customer support. The website is user-friendly and full of educational materials. The company is active on social media, engaging users with diverse content, trading competitions, and an affiliate program.

In summary, FundedNext is a dynamic and evolving prop trading firm with a diverse offering, robust support, and a range of trading programs. Despite high spreads, it remains a competitive choice for traders in the prop trading industry.