A Month with FundedNext: a New Prop Trading Firm
FundedNext, a new proprietary firm started their journey on March 18th, 2022 with two funded trading programs. A numerous number of global traders have already signed up with FundedNext and they are sharing their exceptional experience with the trading communities. According to most, this new prop firm has created a very comfortable trade-friendly environment for all kinds of traders to use their diverse trading strategies.
Moreover, recently, FundedNext has disbursed its first-batch of payments to its successful traders, which created a sensation in the traders' community. Because, for the first time, any prop trading firm is sharing 15% profits with its traders during their assessment period, the people's excitement is definite.
We have tried out one of their funding models. In this article we are going to share our experience with FundedNext and give a brief overview of what traders might be expecting from them.
FundedNext is a newly launched proprietary trading firm for forex traders. After funding local traders for one and a half years, it has launched globally for traders from all over the world to grab the risk-free financial opportunities. Like many others, we also enrolled to assess if this fairly new prop trading firm is as competitive as it advertised.
Here are some of the core features to highlight from a month of experience with FundedNext.
- Two funded trading models with very affordable subscription fees
- Instant Account Creation
- Trader-friendly Trading Conditions
- 15% profit share during Assessment Phases
- Active Customer Support and a Personal Account Manager
- User-friendly mobile application and dashboard
Features of FundedNext
1. Two Trading Models with Affordable Fees:
There are two kinds of funding models in different funding amounts with FundedNext: the Express model and the Evaluation model. We have signed up with the Express model, a $100,000 funding capital plan. In comparison to any of our previous proprietary experiences, their pricings are reasonably affordable.
2. Instant Account Creation:
After signing up with FundedNext and receiving money transaction documents, our account was instantly created. On the first day of the account's creation, we started trading with null hazards.
3. No Restrictions on Trading Strategies:
Before signing up with FundedNext, we went through every single stated rule for each of their models. In order to test if they have any loopholes, we tried every possible trading strategy. We tried scalping, day trading, and holding a trade for the weekend to test if FundedNext allows swing traders.
With the Express model, we could not hold trades over the weekend. Other than that, we faced almost no restrictions. On the contrary, their Evaluation model allows traders to hold the weekend.
Thus, we think, this Express model would be most suitable for scalpers and intraday traders.
4. 15% Profit Share, Withdrawable in One Model:
We mentioned before that FundedNext is offering 15% profit share during the assessment phase. And by the end of the first month, we had successfully withdrawn our profit from FundedNext.
With the Express model, we had the opportunity to withdraw profit that we earned during the assessment phase.
However, this offer does not apply to the Evaluation model traders. Although they can also earn a 15% profit during their assessment phases. But this profit share can only be withdrawn during the first payout from the funded account.
5. Active Customer Support and a Personal Account Manager:
During the whole experience, we contacted the support team an uncountable number of times. They have been very cooperative and responsive in every instance.
We also got a personal account manager, with whom we communicated often about account creation and learned about trading rules.
6. User-friendly Mobile Application & Dashboard:
FundedNext has created a user-friendly dashboard that consists of everything from trading analysis and overview, a personalized trading journal, and a direct communication method to contact the dedicated account manager. They have added the profit withdrawal method and the microeconomic calendar.
They also have a mobile application that is very easy to use and user-friendly. Anyone, even a novice trader, can comprehend everything from the app.
FundedNext has created a great buzz on the internet before its launch. They have been featured in the global financial online news portals. Moreover, being so active and grabbing the attention of the people on social media pages has helped a lot in creating the hype that they needed.
From our one-month experience with FundedNext, we are assured that this company’s vision to empower skilled traders by providing a trade-friendly environment is legitimate. We will come back with another review of our experience with FundedNext soon after we receive the funded trading account and share the journey with this prop trading firm.