FundedNext

General Company Information

FundedNext is a funding company founded in 2022 in the United Arab Emirates. It emerged at the beginning of the explosion in popularity of prop firms, and over the years it has established itself as one of the most reliable and popular firms.

Thanks to its four account types and a wide variety of configurations, its product offering is suitable for all types of traders. It also offers many other special features, such as a monthly competition with cash prizes and Infinity Points, as well as advanced tools such as the Trading Journal and Toolkit.

Evidence

At FundedNext, we can find up to four main types of accounts: Evaluation, Express, Stellar, and Stellar Lite. Tests are either single-phase (Express and Stellar) or dual-phase (Evaluation, Stellar, and Stellar Lite).

Each type offers a unique set of rules and pricing. I personally am not a big fan of this, as it makes the account selection process too complicated and counterintuitive. On the other hand, it is true that this allows us to choose the type of test that best suits our needs.

Common rules

Stop loss

The use of stop loss is not mandatory in any type of account.

News

Unrestricted news trading is permitted on all FundedNext accounts except the Express account.

Time limit

There is no time limit to complete the test on any account type except Evaluation.

EAs

The use of EAs is permitted in Metatrader 4 and Metatrader 5. Any type of algorithmic trading or external connections are not permitted in cTrader.

Stellar

Steps

The Stellar account has two variants: one with two phases and the other with only one. Each of these variants has different conditions, such as maximum drawdown, leverage, and withdrawal frequency.

Target profit

The target profit for a one-phase Stellar account is 10%, while for a two-phase Stellar account, it is 8% for the first phase and 5% for the second.

Maximum daily drawdown

The maximum daily drawdown for the 1-step Stellar account is 3%, while for the 2-step account it is 5%.

Total Maximum Drawdown

The maximum total drawdown for a 1-step Stellar account is 6%, while for a 2-step account, it’s 10%. In both cases, this value is calculated based on the account’s initial balance.

Minimum days operated

The minimum number of trading days to pass the trial phase for a one-step Stellar account is 2 days, while for a one-step Stellar account, it is 5 days.

Profit sharing

Once the account is funded, for the 1-step option, we’ll earn 90% of the total profits generated. For the 2-step option, we’ll earn 80% of the total profits generated, with the possibility of increasing this figure to 90% through the scaling program.

In addition, once we achieve 10% account balance growth on the one-step Stellar account, we’ll receive 15% of the profits generated during the testing phase. On the two-step Stellar account, we’ll also receive this 15% profit share, but after achieving 5% balance growth.

Payment Frequency

With the 1-Step Stellar account, you can receive your first payment just 5 days after your account is funded. Subsequent payments can also be requested every 5 days.

For the 2-step Stellar account, the first payment can be received at least 28 days after the account is funded. Subsequent payments can be requested every 14 days.

Commissions

The commission depends on whether the account is 1 or 2 phases:

• 1 phase: $5 per lot for forex and commodities
• 2 phases: $3 per lot for forex and commodities

Indices and crypto are commission-free.

Leverage

The leverage on the 1-step Stellar account is 1:30, while on the 2-step it is 1:100.

Stellar Lite

Target profit

The target profit for the Stellar Lite account is 8% for the first phase and 4% for the second.

Maximum daily drawdown

The maximum daily drawdown for a Stellar Lite account is 4%, based on the initial account balance.

Total Maximum Drawdown

The maximum total drawdown for a Stellar Lite account is 8%, based on the initial account balance.

Minimum number of days operated

The minimum number of trading days to pass the test on the Stellar Lite account is 5 days.

Profit sharing

Once the account is funded, we’ll earn 80% of the total profits generated, with the possibility of increasing this figure to 90% through the scaling program.

Commissions

The commission is $7 per lot traded for forex and commodities. Indices and cryptocurrencies are commission-free.

Payment Frequency

The first payment can be requested 21 days after the account is funded. After that, new payments can be requested every 14 days.

Upon making the third withdrawal from the account, we will also receive a refund equivalent to the price of the test.

Leverage

The leverage on the Stellar Lite account is 1:100.

Evaluation

Target profit

The target profit for the Evaluation account is 10% for the first phase and 5% for the second.

Time limit

The Evaluation account is the only account with a time limit on FundedNext. This is 4 weeks for the first phase, and 8 weeks for the second.

Maximum daily drawdown

The maximum daily drawdown on the Evaluation account is 5%.

Total Maximum Drawdown

The maximum total drawdown on the Evaluation account is 10%.

Minimum days operated

The minimum number of days traded to pass the Evaluation account testing phase is 5 days.

Profit sharing

Once the account is funded, we’ll earn 80% of the total profits generated, with the possibility of increasing this figure to 90% through the scaling program.

In addition, once we achieve 5% account balance growth, we’ll receive 15% of the profits generated during the trial phase.

Extension

If you don’t achieve the profit needed to complete the first phase, you can request a 14-day extension. This is only possible if you have achieved at least a 5% profit and have traded for at least 5 days.

This extension can only be requested once per account or reset.

Free Reset

Another advantage of this type of account is that we can repeat the first phase of the test as many times as we want, as long as we end up in the black at the end of the 8-week cycle and have traded for at least 5 days.

This option is not applicable in the second phase.

Payment Frequency

The first payment can be requested 28 days after the account is funded. After that, new payments can be requested every 14 days.

When you make your first withdrawal from your account, you’ll also receive a refund equal to the price of the test.

Commissions

The commission is $3 per lot traded for forex and commodities. Indices and cryptocurrencies are commission-free.

Leverage

The leverage on the Evaluation account is 1:100.

Express

Consistency rule

Within the Express account, there are two variants. The main difference, and what gives them their name, is that one has a consistency rule, while the other doesn’t.

The consistency rule uses the account’s trading history to determine the minimum and maximum trading and lot size for the following week. The maximum is calculated by multiplying the daily average of the previous weeks by 2, while the minimum is calculated by dividing it by 2.

If, for example, you’re in your third week with the account and over the past two weeks you averaged 5 trades per day and a daily lot size of 2 lots, then the maximum average daily trade size for the third week cannot be greater than 10 or less than 2.5. Likewise, the maximum average daily lot size cannot be greater than 4 or less than 1.

For the fourth week, new highs and lows would be calculated based on all previous trades, from weeks 1 to 3.

Consistency rule in the funded account

After passing the testing phases and obtaining a funded account, we will need to continue to comply with the consistency rule. This only applies to the consistency rule option.

Failing the consistency rule

If we don’t complete the trading cycle within the limits of the consistency rule, but are in the black and have traded for at least 10 days, we’ll receive a free reset. If we are in the black or haven’t traded for at least 10 days, the account will be lost entirely.

Funded account size

In the variant without a consistency rule, the funded account size once we pass the test will be 25% of the size of the test phase account. In the variant with a consistency rule, the funded account size will be the same as the test phase account.

Target profit

The target profit for the Express account is 25%. This number may seem very high compared to all other accounts, but we must keep in mind that with the Express account, we can withdraw profits from the very beginning, without having to go through the testing phase yet.

Maximum daily drawdown

The maximum daily drawdown for the Express account is 5%.

Total Maximum Drawdown

The maximum total drawdown for the Express account is 10%.

Minimum number of days operated

It is necessary to operate at least 10 days in each 4-week cycle, both to overcome each of the phases and to be able to continue operating in the next 4-week cycle.

Profit sharing

After completing the testing phase and getting the account funded, we will achieve the following profit sharing percentages:

• 60% on the first withdrawal
• 75% on the second withdrawal
• 90% on the third withdrawal and all subsequent withdrawals

Commissions

The commission is $3 per lot traded for forex and commodities. Indices and cryptocurrencies are commission-free.

Leverage

The leverage on the Express account is 1:100.

Characteristics

15% of the profits from the testing phase

At FundedNext, we not only benefit from the funded account, but also from the evaluation account. How it works varies depending on the account:

• For single-phase Stellar accounts, we will receive this benefit after passing the test and increasing the funded account balance by 10%.
• For the two-phase Stellar account and Evaluation account, we will get this benefit after passing the test and increasing the funded account balance by 5%.
• For the Express account, we can obtain this benefit during the evaluation phase, calculated on the profit generated each 4-week cycle.
• Stellar Lite account does not have this feature.

Brand Promise

FundedNext is committed to processing payments within 24 hours of the withdrawal request. If this doesn’t happen and there’s a delay on the company’s part, an additional $1,000 will be added to the withdrawal amount.

The payment process necessarily includes sending the merchant a document certifying that the transfer is in the hands of the payment processor.

There may be situations where payment is not processed within those 24 hours. Brand Promise will not apply unless the FundedNext team provides timely notification of the reason for the delay and a future payment date.

The Brand Promise also will not apply if the merchant has made a mistake when entering the withdrawal method information.

Reset

If you lose your account during the trial period, you can request a reset. This reset will restore your account to its original state. The reset fee is somewhat cheaper than purchasing a new trial, so it can be a very attractive option.

When we reset a failed account in the first phase, that same account will be reset, while if we do it in the second phase, we will receive a new account.

Top-up (refill)

If your account balance has dropped to levels close to the maximum drawdown, you have the option to return it to its initial level. The documentation only shows prices for Express accounts. I don’t know if this means it’s only available for this account type, or if the information is simply incomplete.

Refund

Once we successfully make the first withdrawal from our funded account, we’ll also receive a refund equivalent to the cost of the test, or the cost of the last reset, if we made one.

This is true for all FundedNext accounts except the Stellar Lite account.

Scaling

Thanks to FundedNext’s scaling system, we can manage up to $4 million, with a 90% profit share. The process is the same for all account types and only requires the trader to have met the following requirements within the last 4 months:

• Accumulated profit of at least 10%.
• Have received at least 2 payments.
• End the last cycle in the black. The cycle length depends on the account type.

Once these requirements are met, the trader must close all trades and contact support to have the scaling process completed. Each time these requirements are met, the account size will increase by 40%.

The specific scaling documentation doesn’t explicitly state this, but I understand that the profit share increases to 90% once the first scaling is achieved.

Monthly Competition

FundedNext’s monthly trading competition is undoubtedly one of the best in the industry. In this case, we didn’t participate with our funded account, but rather with a free account created specifically for the competition.

Registering is as simple as clicking on our FundedNext dashboard. You’ll immediately have your credentials to start trading on MT5.

Awards

For a free competition, the prizes are very good. There are 150 prizes up for grabs, with funding challenges of up to $300,000, and 10 cash prizes of up to $7,000.

Instruments

Currency pairs, indices and commodities can be traded.

Leverage

Leverage is 1:100 for forex and 1:30 for commodities and indices.

Technical details

Broker

FundedNext has its own brokerage license and does not work with external brokers. Thanks to its partnership with various liquidity providers, it is able to offer real market conditions to its traders.

Platforms

• Metatrader 4
• Metatrader 5
• cTrader. Using this platform incurs an additional cost of $25. It is not available for accounts of $100k and above.

Instruments

Forex AUDCAD, AUDCHF, AUDJPY, AUDNZD, AUDSGD, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURHKD, EURHUF, EURJPY, 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, NZD, USDHKD.

Indices and commodities XAGUSD, XPTUSD,

Cryptocurrencies DOGUSD, ADAUSD, XLMUSD, XRPUSD, BCHUSD, BTCUSD, ETHUSD, LNKUSD, LTCUSD, XMRUSD.

Commissions

• Indices and cryptocurrencies
• No commissions
• Forex and commodities
• Evaluation, Express, and Stellar two-phase: $3 per batch
• Single-phase Stellar: $5 per lot
• Stellar Lite: $7 per batch

Spread

FundedNext claims to have very low spreads, even better than the typical spreads of an ECN broker.

In this image, you can see a sample of the stocks you can find during market hours on FundedNext.

You can also view the spreads in real time at this link

Commissions

FundedNext is commission-free for index and cryptocurrency markets. For forex and commodities markets, fees vary depending on the account type:

• Evaluation and Stellar two-phase: $3 per batch
• Single-phase Stellar: $5 per lot
• Stellar Lite: $7 per batch

Demo account

You can check the spreads and trading conditions for yourself through their public demo account:

MetaTrader 4

• Login ID: 123456
• Password: FN2022
• Server ID: FundedNext-Server

MetaTrader 5

• Login ID: 123456
• Password: @Fn2024*
• Server ID: FundedNext-Server

Devices

FundedNext recommends using only two devices for trading: a computer and a mobile phone or tablet. If you use more than one device, it’s essential that they belong to the trader and aren’t shared with other traders.

IP Restriction

Trading is permitted from any network, whether private or public, as long as the trader’s own devices are used.

Using VPN

VPN use is permitted, as long as you don’t connect through an IP address from a restricted country. If you use a VPN service, it’s recommended to use a paid service and a static IP address to avoid triggering any suspicious behavior.

Restricted Countries

Currently, traders from the following countries are not eligible to trade with FundedNext:

Bangladesh, North Korea, Syria, United States, American Samoa, Puerto Rico, Grenada, Chad, Belize, Antigua and Barbuda, Cape Verde, Tuvalu, Vietnam, Bouvet Island, Burundi, Cook Islands, Eritrea, Comoros, and Fiji.

Web

FundedNext’s website meets the expectations of a top-tier prop firm. An informative and comprehensive landing page, various tools, and good documentation…

Languages

The website is available in a wide range of languages, including English, Spanish, Italian, French, German, Japanese, Turkish, Polish, Indonesian, Malay, Portuguese, Dutch, and Arabic. Languages other than English seem to be automatically translated (at least in Spanish), but this is something many people who aren’t fluent in English will appreciate.

Documentation

Possibly the most important part of the website, FundedNext’s documentation is very comprehensive and well-organized. Even with a complicated and unintuitive account offering, reading the entire documentation leaves everything quite clear and clear.

It’s available in several languages, including Spanish, and like the rest of the website, it appears to be automatically translated.

User Area

The FundedNext user area is certainly up to par with what you’d expect from a company like FundedNext. It runs very smoothly and offers a modern and effective user experience.

Among the sections to highlight, we can find:

• Monthly competitions
• Trading journal
• Certificates
• Active offers
• Infinity Points Section
• Web terminals (Mt5 and Tradingview)

We also have a large number of utilities and tools such as:

• Margin Calculators
• Benefit and risk
• News calendar
• Recent news
• Technical and fundamental indicators
• Tools to download
• Books and videos

They are definitely worth at least a look.

Payments and withdrawals

Payment Methods

• Card
• AstroPay
• PayPal
• Apple Pay
• Crypto (BTC, ETH, LTC, DOGE, SOL, USDT and USDC)
• Local payment system (Only for some regions of the world)

Withdrawal Methods

• USDT
• USDC
• Rise

Withdrawal conditions and frequency

The frequency of withdrawals depends on the type of account and whether or not it is the first withdrawal:

First withdrawal

• Evaluation, Express and Stellar 2-step: 1 month.
• 1-step Stellar: 5 days.
• Stellar Lite: 21 days.

Second withdrawal

• Evaluation, Stellar 2-Step and Stellar Lite: every 2 weeks.
• Express: every month.
• 1-step Stellar: every 5 days.

Once a withdrawal is requested, it will be processed within the next 24 hours.

My opinion about FundedNext

What I like the most

• Monthly competition open to everyone with great prizes in both free and cash accounts.
• Fairly permissive rules make trading with FundedNext attractive to many types of traders.
• MT4, MT5, and cTrader available. The best and most popular trading platforms.
• Support. I’ve had contact with the FundedNext team and the personal experience has been very positive.
• Huge range of features and functionalities such as reset, top-up, brand promise, add-ons, Infinity Points, etc.

What I like least

• The complexity of the offering is overwhelming. There are many types of accounts, and each has a ton of differences in rules and conditions. Deciding which account to use and which add-ons to use becomes an odyssey.
• Only being able to use one trade copier as a master account can be very limiting for traders who already work with other companies and want to diversify their operations.