FundedNext offers traders access to trading capital without risking their own funds. By completing evaluation challenges, traders can qualify for funded accounts with profit-sharing opportunities. Account sizes range from $5,000 to $200,000 across six models: Evaluation, Express (Consistency and Non-Consistency), Stellar (1-Step and 2-Step), and Stellar Lite. Profit-sharing can reach 85%, with scaling options up to $4,000,000 for qualified traders. Evaluation criteria vary by model, focusing on profit targets, risk limits, and consistent performance. Fees are refundable upon successful completion, and support tools like trade copiers and account resets are available.
Quick Highlights:
- Account Sizes: $5,000 to $200,000 (varies by model).
- Profit Sharing: Up to 85%; starts during evaluation for most models.
- Evaluation Process: Different targets and structures per model; time limits apply to some.
- Scaling: Accounts can grow by 40% up to $4M.
- Support: Tools include EAs, trade copiers, and reset discounts.
FundedNext caters to a wide range of trading styles and experience levels, but understanding the specific terms of each model is key to success.
FundedNext Review UPDATE | 2024 (Good, Bad & Ugly)
1. FundedNext
FundedNext is a proprietary trading firm offering six funding models tailored to fit various trading styles and levels of experience. These include the Evaluation, Express (Consistency and Non-Consistency), Stellar (1-Step and 2-Step), and Stellar Lite models.
Account Sizes
Most funding models provide account sizes ranging from $6,000 to $200,000. The Stellar Lite model, however, offers a smaller entry-level option starting at $5,000.
The Evaluation model follows a traditional two-phase challenge with six account sizes: $6,000, $15,000, $25,000, $50,000, $100,000, and $200,000. Entry fees range from $49 for the smallest account (or an additional ~$20 for swap-free accounts) to $999 for the $200,000 option.
The Express models also cover account sizes from $6,000 to $200,000 but have different requirements. The Consistency variant enforces specific performance rules, while the Non-Consistency version offers more flexibility but caps account sizes at $100,000. A unique feature of the Express Non-Consistency model is that the live funded account equals 25% of the demo account size.
The Stellar models come in two formats: 1-Step and 2-Step challenges. The 1-Step model requires a single 10% profit target for funding, while the 2-Step model uses an 8%/5% profit target structure.
For beginners, the Stellar Lite model offers smaller account sizes of $5,000, $10,000, $25,000, and $50,000. Entry fees start at just $32 for the $5,000 account, making it a budget-friendly choice.
Now, let’s take a closer look at how profit sharing and evaluation processes define these models.
Profit Sharing
All models, except Stellar Lite, offer traders an 85% profit share once funded, starting from the evaluation phase itself if they reach a 5% profit on their live account.
The Stellar Lite model takes a different approach, skipping profit sharing during the challenge phase. Instead, it focuses on monthly payouts under unique terms compared to the other models.
FundedNext also provides a scaling plan (excluding Stellar Lite) that allows traders to grow their accounts by 40% up to $4,000,000. To qualify, traders must achieve a 10% profit over four months, maintain profitability in at least two of those months, finish the final month in profit, and secure two payouts.
Evaluation Process
The evaluation process varies across models, adapting to different trading goals:
- The Evaluation model uses a two-phase structure with profit targets of 10% for Phase 1 and 5% for Phase 2. Traders must complete a minimum of 5 trading days per phase, with 4 weeks allowed for Phase 1 and 8 weeks for Phase 2.
- The Express models simplify things with a single-phase structure requiring a 25% absolute profit target. There are no time limits, but traders need at least 10 trading days per month. The Consistency variant adds rules for steady performance.
- The Stellar challenges offer flexible terms with no time limits. The 1-Step model requires a 10% profit target but enforces stricter risk limits (3% daily loss, 6% overall loss). The 2-Step model uses an 8%/5% profit target structure similar to the Evaluation model but without time constraints.
Risk management rules are consistent across most models, with a 5% maximum daily loss and 10% maximum overall loss. However, the Stellar 1-Step model tightens these limits to 3% and 6%, while Stellar Lite adjusts them to 4% and 8%.
Trader Support
FundedNext provides traders with tools like Expert Advisors (EAs), trade copiers, and reset discounts for failed challenges.
News trading policies differ by model. The Evaluation, Stellar, and Stellar Lite models allow news trading, while the Express models prohibit it. Weekend holding is permitted in most models except for the Express Consistency variant.
All challenge fees are fully refundable upon successful completion and after the first payout, minimizing financial risks for committed traders.
Leverage is set at 1:100 for most models, except for the Stellar 1-Step model, which operates at 1:30 leverage. This ensures traders have adequate buying power while adhering to sound risk management.
Pros and Cons
FundedNext offers a variety of trading models, each with features designed to cater to different trading strategies. While this flexibility is appealing, the variations in account types, profit-sharing plans, evaluation processes, and support features can make it tricky to choose the best fit.
| Aspect | Pros | Cons |
|---|---|---|
| Account Sizes | Includes multiple funding models with a range of account sizes, making it accessible for many traders. | Some models have limited scaling potential, which may restrict growth for ambitious traders. |
| Profit Sharing | Competitive profit-sharing structures are available across various account types. | Certain models delay profit sharing in early phases and set challenging performance criteria. |
| Evaluation Process | Provides flexible evaluation formats tailored to different trading styles. | Some challenges require aggressive targets and impose stricter risk limits, which may be difficult to meet. |
| Trader Support | Offers features like automated trading compatibility, news trading options, and account reset benefits. | Restrictions on news trading and holding positions over the weekend apply to certain models. |
These pros and cons highlight the strengths and limitations of FundedNext’s funding models, helping traders weigh their options effectively.
FundedNext also offers various challenge formats – multi-phase, single-phase, and flexible – to align with diverse trading approaches. However, the rules and risk management policies differ across models, making it essential to review the terms carefully. For instance, some accounts come with strict performance targets and risk limits, which might not be suitable for every trader.
Overall, FundedNext provides a solid range of funding opportunities. To make the most of them, traders should thoroughly evaluate each model’s terms and ensure they align with their trading goals and risk tolerance.
Conclusion
FundedNext provides a variety of account options tailored to different trading styles and levels of expertise. It’s crucial for traders to match the details of each account type – such as profit targets, risk limits, and evaluation criteria – with their personal trading objectives and appetite for risk.
Success in this process depends heavily on understanding the finer points of each account model. Taking the time to review the official terms and thoroughly grasp the specifics is key before making any commitments.
FAQs
What are the key differences between FundedNext’s Evaluation, Express, and Stellar models?
FundedNext provides three funding options – Evaluation, Express, and Stellar – each designed to suit various trading styles and goals.
The Evaluation model involves a two-phase process. Traders aim to achieve an 8% profit target in Phase One and a 5% target in Phase Two. Those who successfully complete the evaluation can earn up to a 90% profit share.
The Express model offers a simpler approach with a single-phase challenge and a 25% growth target. During this phase, traders receive a 15% profit share, which increases to 60%-90% once they qualify.
The Stellar model also uses a two-phase structure, similar to the Evaluation model. It requires traders to meet an 8% target in Phase One and a 5% target in Phase Two, offering comparable benefits.
These models are crafted to accommodate different trading preferences, enabling traders to select the option that best suits their goals and risk appetite.
How does FundedNext’s profit-sharing work during the evaluation phase, and what are the requirements to qualify?
During the evaluation phase, FundedNext provides traders with a 15% profit share on the profits they earn while completing the challenge. This means traders can begin earning income even before securing a fully funded account.
To be eligible for this profit-sharing opportunity, traders need to actively engage in the evaluation process and adhere to the firm’s guidelines during the challenge phase. This 15% profit share stands out as an early incentive, rewarding traders for their efforts and performance right from the start.
What tools and support does FundedNext offer to help traders succeed in their evaluations?
FundedNext equips traders with a variety of tools and resources to help them navigate the evaluation process effectively. With access to widely-used trading platforms such as MetaTrader 4, MetaTrader 5, and cTrader, traders can choose the platform that best suits their trading style and preferences.
To ensure seamless support, the firm provides 24/7 customer service through live chat and email. There’s also a detailed help center packed with tutorials and articles to guide traders through every stage of their journey. On top of that, FundedNext supports advanced features like copy trading and the use of Expert Advisors (EAs) on most accounts, offering traders additional ways to fine-tune and enhance their strategies.
