FundedNext review: Rules, Pros, Cons & PromosTable of Contents
Overview
FundedNext has quickly become one of my favorite prop firms for a number of reasons. For starters, they start paying you from the jump – you actually get a percentage of your profits during the evaluation stage. They also guarantee on time payouts, or they’ll give you an extra $1,000, they are 25% cheaper than FTMO, and have great trading conditions.
Current Promo
Sign up with this link and you’ll get an extra free account if you reach first payout + 50% off all add-ons! That’s on top of the profit share!
My detailed review of FundedNext
Pros
- Obviously I love the payout from evaluation. It depends on which account type you choose, but with the Express account, even if you end up blowing your funded account, you’ll still walk away with a nice chunk of cash from your evaluation.
- One of the few prop firms that still allows news trading with most accounts.
- Tons of available payout options. I’ve seen too many prop firms struggle to make payouts, mostly due to issues with Rise. FundedNext gives you plenty of options to make sure you get your hard-earned cash.
- I love a good bargain. FundedNext comes in substantially cheaper than FTMO and other prop firms of similar quality. You can start a Stellar Lite account for just $32.
- Great education materials. Even if you know it all (you don’t, trust me) a prop firm that invests in educational materials is a prop firm that actually cares about their traders. FundedNext has over 1,000 videos on its YouTube channel. That shows me their true dedication.
- Guaranteed payouts or get a $1,000 bonus. How have I not even mentioned this yet? While other prop firms do everything they can to delay payouts, FundedNext guarantees them.
- Safety. I feel safe with FundedNext. That’s not a feeling I often get with prop firms these days. FundedNext has forward-thinking leadership and they’re built to be around for the long term. They’ve served 97,000 traders, and paid out more than $95 million.
- I love the clean dashboard. You can check out the screenshots below, but it is obvious FundedNext has invested a lot of money in their in-house tech. Easy for navigate, even for someone like me.
- Tons of options. Choose from their Stellar, Stellar Lite, Evaluation, or Express accounts. I explain the differences below, but trust me, there’s a choice suitable for everyone.
- Sometimes FundedNext has some really great promos. I will keep them updated above, and on my prop firm promos page.
- I currently list FundedNext amongst my top prop firms in the world.
Cons
- Unless you have an Express account, the profit share from your evaluation doesn’t come until you’ve made 5% profit in your funded account. That’s obviously not a huge barrier, but with most accounts, you’re not getting that share immediately.
- Currently not available for US traders. Hopefully this changes soon.
- Not ideal for swing traders. If you swing, overnight swap fees can be higher with FundedNext.
- Sometimes too many options can be overwhelming. I’ll break them all down below, and you can always access FundedNext’s 24/7 support.
Program Highlights
FundedNext offers five distinct programs, so I’ve made up this chart to show the differences. Bear in mind that I will keep this updated as best I can, but always double check trading parameters with FundedNext before signing up.
Note that all accounts have a balance-based drawdown, and you can trade news in all accounts other than Express.
| Stellar Two Step | Stellar One Step | Stellar Lite | Evaluation | Express | |
| Profit Target | Phase 1: 8% Phase 2: 5% | 10% | Phase 1: 8% Phase 2: 4% | Phase 1: 10% Phase 2: 5% | 25% |
| Max Daily Loss | 5% | 3% | 4% | 5% | 5% |
| Max Overall Loss | 10% | 6% | 8% | 10% | 10% |
| Minimum Trading Days | 5 days | 2 days | 5 days | 5 days | 10 days |
| Profit Split | 80% – up to 95% with add-on | 80% – up to 95% with add-on | 80% – up to 95% with add-on | 80% – up to 95% with add-on | 80% – up to 95% with add-on |
Who should sign up with FundedNext?
FundedNext is one of the very rare prop firms that appeals to both bargain-hunting traders and those who want an honest firm that won’t deny payouts. FundedNext has incredible price points for a firm with such a great reputation, great trader resources, and of course, their famous payout guarantee.
If you like to trade news, FundedNext is one of your last available options. Many prop firms have initiated time limits, often between 3-5 minutes both before and after big announcements.
Others allow you to trade, but will invalidate any profits you receive. That means you have to be hyper-aware of the economic calendar and might miss out on some really great trading opportunities.
All FundedNext accounts other than Express allow news trading.
Anyone with a long term trading focus should also sign up with FundedNext. If you’re looking for a prop firm partner that is built to last, will be there payout after payout, and support you along the way, FundedNext is an excellent choice.
Who should NOT sign up with FundedNext?
If you are a US based trader, you are currently not allowed to use FundedNext. I suspect this will change once we get clarity from US regulators on how they treat prop firms, but for the moment you are out of luck. I suggest E8 Markets for US-based forex traders.
All things considered . . .
These are troubling times in the prop firm industry. Stick with the tried and true firms that make their payouts, support their traders, and offer you the best opportunity for long term success. FundedNext is one of those firms, and with their outstanding prices and great promos – like BOGO if you reach first payout + 50% off all add-ons 110% refund with code FNFRIDAY, this is the time to sign up.
FundedNext Basics
How does FundedNext work?
FundedNext works like most standard prop trading firms. You have to pass a trading evaluation, which is either one of two stages, depending on the account you choose. You pass the evaluation by hitting your profit targets without breaching the maximum daily or overall losses, or using a prohibited trading strategy.
Once you pass your evaluation, you are given a funded account. The funds aren’t real – you are still trading in the simulated environment, but you’ll be paid out up to 95% of any profits you make and you won’t be responsible for any losses.
There are still rules on a funded account, of course, so if you hit your max loss or use a trading strategy that takes advantage of the demo environment, you’ll lose your account and have to pass the evaluation all over again.
There are two important features that separate FundedNext from other prop firms: they pay out on your evaluation profits, and they guarantee your payouts with a $1,000 bonus tacked on if you don’t receive payment within 24 hours.
How much does FundedNext cost?
FundedNext charges a one-time fee, which is returned to you with a 10% bonus upon passing your evaluation if you sign up with this link and use code MDFS.
| Stellar Account $6K – $59$ 15K – $119 $25K – $199 $50K – $299 $100K – $549 $200K – $999 Evaluation/Express $6K – $49 $15K – $99 $25K – $199 $50K – $299 $100K – $549 $200K – $999 Stellar Lite $5K – $32 $10K – $59 $25K – $139 $50K – $229 $100K – $399 (Receive a 110% fee refund upon passing with code MDFS) |
How I make my assessment
I access prop firms based on the following criteria. I try to make this assessment fairly general to cover the basics and make this guide as useful as possible to the most readers, but everyone’s criteria will be different, so make your own priorities.
Trading platform/dashboard – 10/10
MT5 is my go to platform, so I’m happy to be using that, and feel sorry for American traders who have to use subpar platforms after Metaquotes pulled out of the US. FundedNext also integrates TradingView into their platform and their dashboard is informative, clean, and user-friendly. They also recently added a journaling tool to their platform, which can be invaluable, particularly to new traders.
Here’s some screenshots of their dashboard – please pay little attention to my trading results, as I wasn’t looking for any setups, just trading for the sake of testing conditions and trying out the dashboard. If I’m going to make some money and maintain a 50% win rate, I really need to increase that Avg. RRR!
Profit splits – 8/10
FundedNext gets a lot of mileage out of the phrase “up to 95%” profit splits, but that’s only with a pretty expensive add-on (+30%) With all accounts other than Express, FundedNext starts out with industry standard 80% profit splits; however, you can scale up to 90% splits if you hit trading goals.
If I was just judging them by their splits on their funded accounts, they would have graded out below average, but they also offer that 15% split of your evaluation profits, which few other reputable firms offer.
Scaling opportunities – 7/10
FundedNext’s scales accounts all the way up to $4 million, but you have to earn it as their criteria to increase capital is pretty stringent. In order to scale up your account, your performance is judged over a four-month period.
In those four months, you must have at least a 10% return in each month, take at least two payouts, and end your last trading cycle in profit.
That is, of course, easier said than done, but the rewards are pretty sweet. Meet the above criteria, and your account size will be grown by a substantial 40%.
Trade parameters/profit targets – 10/10
It is getting harder and harder for me to evaluate these firms against each other because there are now so many options and add-ons, but in general FundedNext makes it easier to hit their profit targets.
If you use either their Stellar or Stellar Lite accounts, your profit target is only 8%, which is 2% better than the standard programs at FTMO, E8, or the 5%ers. For anyone who thinks 2% is not significant, talk to the thousands of traders who have ended up blowing accounts just as trying to make that one last trade to hit their 10% profit target.
Of course you have to overcome that same “I’m almost there” psychology to hit 8%, but in real terms, it is obviously much easier.
Affordability/value – 10/10
It is important to note that I take into account both the price points AND the value you get for that price when I make this judgment. There are firms out there that will give you an account for $7, but you’ll get a terrible platform, constantly shifting rules, and probably an eventual rugpull.
To me, FundedNext offers the best quality to price ratio in the business. Their trading platform options plus a great dashboard in addition to their trader education, and payout guarantees put them amongst the best of the best in the prop trading world. But their price points are still amongst the industry’s best.
FundedNext clearly gives you a great bang for your buck, maybe the best in the business.
Educational resources – 10/10
I’ve already mentioned this above – FundedNext has outstanding resources, particularly on their YouTube channel. They recently added 17 lessons on emotional intelligence for traders, all for free. Even if you ultimately decide to use another prop firm, take advantage of the free education at FundedNext.
I also highly value a prop firm’s educational resources, because for me, it is a valuable litmus test. Good, reliable prop firms spend a lot of money on educating and guiding their traders. Rugpull prop firms don’t spend a dime. A firm that isn’t looking towards the future does not invest in their traders’ future.
FundedNext is very forward-thinking, and has the trader’s best interest in mind.
Tradable assets – 9/10
FundedNext is mostly geared towards forex traders, but they also offer some indices, commodities and crypto. They haven’t updated their list online in 5 months, but at last report I counted 50 forex pairs, 18 indices and commodities, and 10 cryptocurrencies. I have included a full list below.
You can certainly find more tradable assets elsewhere, so if you want to trade shares or have access to more indices, you should look at a different firm.
Trustworthiness – 9/10
FundedNext is about as stable as it gets. They have a proven executive team, excellent risk management, and they survived the trading platform issues that felled so many other prop firms.
They’re also based in the UAE, which should mean fewer regulatory issues going forward, and they’ve taken the precaution of suspending service to the US until regulations there are more clear. They’ve shown themselves to be a responsible firm with a long-term vision.
Trading Conditions – 9/10
Honestly, I haven’t traded with them that long, but I did trade through some serious volatility around the election and FOMC announcement and saw surprisingly little slippage. I was impressed. Raw spreads and commissions are reasonable – $3 a lot on forex pairs. For me, execution using their server and MT5 has been nearly flawless.
My overall rating – 9.1/10
Frequently Asked Questions
Is FundedNext Legit?
This question gets asked about every prop firm for two main reasons. First, there are, indeed, some less-reputable companies operating as prop firms, so it is important to be careful. Second, prop trading seems too good to be true. “You mean there are companies that will give me their money to invest and cover my losses? For real?”
Yes, for real. Prop trading is a legitimate business, and FundedNext is one of the top prop firms in the world.
Does FundedNext offer discounts or promo codes?
FundedNext is not one of these firms that has constant discounts going on – in fact, they don’t offer price discounts at all. They do, however, offer some amazing promos from time to time – usually once every two months or so. They have even been known to offer BOGO (buy one, get one) promos, and 200% refunds for passing their evaluations. I keep FundedNext promos and promos for many other prop firms up to date on this page.
Can Americans join FundedNext?
Americans cannot join FundedNext at this time. No doubt they are waiting to hear the results of the My Forex Funds case, which should provide some clarity as to how the CFTC is going to regulate prop trading firms.
What trading platforms can you use with FundedNext?
FundedNext offers MT4, MT5 and cTrader.
Who owns FundedNext?
The CEO of FundedNext is Abdullah Jayed, who founded the prop firm in 2022 as a part of his fintech company, Next Ventures.
What can I trade with FundedNext?
Here’s the complete list, of tradable assets according to the FundedNext website:
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, NZDUSD, USDHKD.
Indices and Commodities:
XAGUSD, XPTUSD, XAUUSD, UKOUSD, USOUSD, AUS200, EUSTX50, FRA40, GER30, HK50, SPX500, NDX100, NTH25, SWI20, UK100, US30, US2000, JP225.
Cryptocurrencies:
DOGUSD, ADAUSD, XLMUSD, XRPUSD, BCHUSD, BTCUSD, ETHUSD, LNKUSD, LTCUSD, XMRUSD.
Does FundedNext allow EAs?
Yes, FundedNext allows EA’s, but they do have some caveats, so check their website. At their latest update they stated, “While it is permissible for traders to employ the same Expert Advisor or Indicator as other traders, it is essential to customize the settings and parameters to differentiate their trades from others.”
Does FundedNext allow scalping or high frequency trading?
No, FundedNext does not allow tick scalping or high frequency trading.
What types of accounts does FundedNext offer?
FundedNext offers Stellar, Stellar Lite, and Executive accounts, which are two-step evaluations. They also offer a one-step Stellar account as well as an Express account. See above for details in account differences.
Is FundedNext regulated?
No, FundedNext is not regulated. FundedNext is based in the UAE, but are not subject to financial regulations there or anywhere else.
How do I get in contact with FundedNext?
FundedNext can be reached via their 24/7 support on their website, or via email at support@fundednext.com
My FundedNext Review Summarized in Exactly Forty Words
FundedNext guarantees payouts, pays out on evaluation profits, allows news trading, and they’re one of the most reliable prop firms in the world. They’re also an excellent value, especially now – with promo code MDFS you’re eligible for a 110% refund.