Written by IVAN S.
Fact checked by CEZARY J.

FundedNext

This prop trading firm gains acclaim for its progressive evaluation and funding approach, solidifying a commendable position in the sector.
BEST RULES
4.79
Overall score
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 own unique broker and manages its own servers. It provides the MetaTrader4, MetaTrader 5 and cTrader platforms.

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.

Profit share from Challenge Phase
Good/very good cost
Large selection of challenge programs and their modifiability
Available account with a balance of $6,000
Moderate opinions about withdrawals
‚ÄčTrading on weekends unavailable
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
Overall score
4.79
Challenge fees
4.2
Challenge difficulty
3.65
Dashboard UX
3.3
Commision & spread
2.5
Scaling plan
4
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
Phase 1
Trading period
UNLIMITED
Min. trading days
5
Profit target
8%
Maximum loss
10%
Maximum daily loss
5%
Phase 2
Trading period
UNLIMITED
Min. trading days
5
Profit target
5%
Maximum loss
10%
Maximum daily loss
5%
Payout
Profit split
80/20%
First withdrawl
28 days
Min. days to payout
14
Refundable Fee
100%
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 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 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%.

Phase 1: Requires achieving an 8% profit without a time limit
15% Profit share from challenge phases
Profit split up to 95% with add-on
Phase 1: Overall Drawdown up to 8%
Minimum number of trading days: 5
‚ÄčTrading on weekends unavailable
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 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%.

Conditions: Only one phase
Scaling plan 90/10
First withdrawal after 5 days
Overall Drawdown up to 6% of the initial account balance
Daily Drawdown up to 3% of the current account balance
‚ÄčTrading on weekends unavailable
Trading overnight Yes
Trading during weekends No
News Trading Yes
EA Trading Yes
Cryptocurrencies Yes

Stellar Lite Challenge

The Stellar Lite Challenge involves two phases to qualify for a proprietary trading funded account. Investors can choose four account sizes. The maximum total funds available is $50,000.

Phase one requires an 8% profit with, daily drawdown up to 4%, 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 4% profit with similar drawdown conditions. The funded account phase has no specific profit targets, daily drawdown up to 4%, overall drawdown up to 8%, and 5 minimum trading days.

Advancement grants a 100% refundable fee after the 3rd payout. The first withdrawal possible after 28 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%.

Lower account prices than Stellar
Phase 2: Profit Target 4%
Phase 1: Requires achieving an 8% profit without a time limit
Phase 1, 2: Daily drawdown 4%
Max allocation: $50,000
Refundable fee after the 3rd payout
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 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%.

Conditions: Only one phase
60/40 first profit split
Minimum number of trading days: 10
Phase one requires an 25% profit
‚ÄčTrading on weekends unavailable
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 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%.

Conditions: Only one phase
60/40 first profit split
Minimum number of trading days: 10
Phase one requires an 25% profit
‚ÄčTrading on weekends unavailable
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 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%.

15% Profit share from challenge phases
Profit split up to 95% with add-on
Time limit: Phase 1 – 4 weeks, Phase 2 – 8 weeks
Minimum number of trading days: 5
‚ÄčTrading on weekends unavailable
Trading overnight Yes
Leave positions open during weekends Yes
News Trading Yes
EA Trading Yes
Cryptocurrencies Yes
Scaling Plan
4

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:

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Challenge fees
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
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.¬†

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Trading conditions

Server Provider

FundedNext uses its unique broker and manages its own MT4/MT5 and cTrader servers. Users can access these servers under names such as ‚ÄėFundedNext – Server‚Äô or ‚ÄėFundedNext – Demo‚Äô. 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.

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Deposits and Withdrawals

Deposits

FundedNext accepts all major credit, bank, and cryptocurrency cards. Paypal payment is also possible. 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

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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 Centerhttps://help.fundednext.com/en/
  • FundedNext Support Timings – 24/7 via email and live chat.

Email Support

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Social Media and Communication

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

Facebook РThe 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‚Äôs 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.

Telegram –¬†Mainly shares news, promotional content, and announcements, with the occasional inclusion of motivational quotes.

TikTok –¬†TikTok page includes promotional materials, announcements and educational content.

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
4.6
Review platform Rating Number of reviews
Trustpilot 4.6 14000

With an overall rating of 4.6 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:

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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

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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 14,000, with an impressive rating of 4.6. 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.

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