Overview:
FundedNext is a relatively newer prop firm (established around March 2022) that has gained popularity by offering various funding models for Forex traders, including 1-step and 2-step challenges. They are known for offering a profit share from the challenge phase itself in some models and a high profit split up to 95% for funded traders. They also offer “swap-free” account options.
Key Points:
- Account Sizes (Challenge): Ranges from $6,000 to $200,000 across different challenge models.
- Year Started: March 2022.
- Minimum Evaluation Days: Varies by model (e.g., Stellar 2-Step: 5 days per phase; Stellar 1-Step: 5 days). Some models may have no strict minimum day count but other consistency rules.
- Maximum Accounts: Maximum aggregate funding of $300,000 (or $50,000 for traders from specific restricted countries). Can hold multiple accounts up to this limit.
- Restricted Countries: Has a list of restricted countries, and also specific restrictions for certain account types or funding limits for traders from countries like Bangladesh, Pakistan, India, Sri Lanka, Egypt, Kenya, Nigeria, Vietnam, Indonesia, Philippines. OFAC countries are restricted.
- Straight to Funded: No, all models are challenge-based evaluations.
- Swing Trading: Allowed. Traders can hold positions overnight and over weekends. Swap charges apply for non-swap-free accounts. Swap-free available for all account types except Express Consistency.
- Trading Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, Match-Trader.
- Profit Split: Up to 95% for the trader. Some models (like Stellar, Stellar Lite, Evaluation) offer a 15% profit share from the challenge phase earnings once funded.
Product Table (Example Challenge Models):
| Model | Account Size | Profit Target (P1/P2 or Total) | Daily Drawdown | Overall Drawdown (Type) | Min Days (P1/P2) | Fee (Refundable – Example) |
|---|---|---|---|---|---|---|
| Stellar 2-Step | $25,000 | P1: 8% ($2k) / P2: 5% ($1.25k) | 5% ($1.25k) | 10% ($2.5k) (Static) | 5 / 5 | ~$159 |
| $100,000 | P1: 8% ($8k) / P2: 5% ($5k) | 5% ($5k) | 10% ($10k) (Static) | 5 / 5 | ~$449 | |
| Stellar 1-Step | $25,000 | 10% ($2.5k) | 4% ($1k) | 6% ($1.5k) (Trailing) | 5 | ~$159 |
| $100,000 | 10% ($10k) | 4% ($4k) | 6% ($6k) (Trailing) | 5 | ~$449 | |
| Evaluation | $25,000 | P1: 10% ($2.5k) / P2: 5% ($1.25k) | 5% ($1.25k) | 10% ($2.5k) (Static) | 5 / 5 | ~$199 |
| Express | $25,000 | 25% ($6.25k) | 5% ($1.25k) | 10% ($2.5k) (Static) | 10 (Consistency) | ~$199 |
Note: Fees are examples, often refundable upon first profit split. Drawdown types and profit targets vary significantly by model. “Static” drawdown is usually based on initial balance.
Pros:
- High profit split, up to 95%.
- Offers profit sharing (15%) from the challenge phase in some models.
- Allows swing trading (overnight and weekend holding).
- Multiple account models (1-step, 2-step, express) catering to different preferences.
- Swap-free account options available.
- Refundable evaluation fees.
Cons:
- Maximum funding limit for traders from certain countries is lower ($50k).
- Some models have relatively tight drawdown limits (e.g., Stellar 1-Step).
- The variety of models and their specific rules can be complex to navigate initially.