A significant trend in the forex trading industry is the increasing number of traders seeking financial backing from prop firms. However, it is crucial to choose the right prop firm to access the necessary funds. In this article, we will explore FundedNext prop firm and evaluate its suitability as a source of funding for traders.
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Let's delve into what FundedNext is and what it offers. FundedNext is a prop firm in the UAE that provides funding for traders interested in Forex and other CFDs trading assets. If you're a Forex trader, you'll have access to all major, minor, and exotic pairs. Additionally, FundedNext offers trading opportunities in indices such as Dax, Nasdaq, Dow Jones, S&P500, FTSE, and more. Commodities like crude and Brent oil, as well as metals like silver and gold, are also available for trading.
Now, let's discuss the account sizes offered by FundedNext. Traders can receive funding with account balances ranging from $15,000 to $200,000, which aligns with industry standards. To secure a funded account, you must choose and pass a Funding Model. The price of the Funding Model varies based on the account size you apply for. Smaller funded accounts start at $59, while larger accounts can cost up to $999.
Check out the FundedNext website here
Regarding leverage, FundedNext uses a 1:100 leverage for all Funding Models. However, it's important to note that while 1:100 leverage is common for Forex trading, it may differ for indices, commodities, and metals. It is advisable to consider that the leverage provided for these assets might be lower than 1:100.
Now let's talk about the payout structure. The payout from FundedNext depends on the Funding Model chosen. The Evaluation Funding Model offers an initial profit split of 80%, which can be scaled up to 90%. The Express Funding Model, on the other hand, provides a 60% payout for the first withdrawal, 75% for the second withdrawal, and 90% for the third withdrawal and subsequent ones.
But that's not all! FundedNext has innovated in this area by offering a profit share even during the demo phase. While trading in a demo account, you can receive a 15% profit share every month until you obtain a real account. If you're interested, click on the link below to access the FundedNext Coupon for a 15% Profit Share on the Demo Phase.
Now let's look at the reviews. According to Trustpilot, FundedNext has an excellent rating of 4.6 out of 5.0, with nearly 4,000 user reviews.
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Let us take a look into the different kinds of account models FundedNext offers
1: Evaluation Model. This model consists of two phases that you must pass to obtain a funded account. In each phase, you need to achieve a minimum profit target within a specific trading period while adhering to drawdown limits. Phase 1 requires you to achieve a profit target of 10% within four trading weeks.
You must also ensure that your daily drawdown does not exceed 5% of the initial account balance, and the overall drawdown remains within 10% below the initial balance. Furthermore, you need to actively trade on at least 5 different days. In Phase 2, the profit target decreases to 5%, and the trading period extends to 8 trading weeks. The same drawdown limits and requirements for trading on at least 5 different days apply.
2: Express Model. This model consists of a single phase, and unlike Model 1, there is no time limit to achieve your profit target. However, the profit target is set higher at 25%. The drawdown limits remain the same, with a maximum daily drawdown of 5% and an overall drawdown of up to 10% below the initial account balance.
Additionally, there is no trading days limit on this model which i think is a plus to traders who decide to choose this model.
3: Stellar Model, funded next recently added the stellar model challenge to their packages, this model seems to be an improved and rewarding model compared to the Evaluation and Express model, with the stellar model the profit target for face 1 is 8% while face 2 is 5%. Daily drawdown and overall drawdown is 5% and 10% respectively. The profit split on the funded account is 90%.
FundedNext also offers free repeats for traders who wish to attempt the Funding Model again. The only requirement is that you end the trading period with profitability, even if you haven't achieved the specific profit target.
In conclusion, FundedNext is a prop trading firm based in the UAE. With a wide range of tradable assets, competitive account sizes, and innovative funding models, FundedNext provides opportunities for traders to pursue their goals. To learn more about FundedNext and take advantage of their funding options, visit their website.
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Click here to FundedNext website
FREQUENTLY ASKED QUESTIONS
1. What is FundedNext? FundedNext is a renowned prop firm that provides aspiring traders with the opportunity to access capital and trade in the financial markets. Our firm offers a range of resources and support to help traders succeed in their endeavors. 2. How does FundedNext work? FundedNext works by offering traders the chance to trade with firm-provided capital. Successful applicants will receive a funded account and take advantage of our trading platforms and tools. Traders can keep a significant portion of their profits, while FundedNext shares in the earnings. 3. What are the benefits of trading with FundedNext? Trading with FundedNext offers several advantages. Firstly, you gain access to substantial trading capital that might otherwise be beyond your reach. Additionally, traders benefit from advanced trading platforms, educational resources, risk management tools, and dedicated support from our experienced team. 4. How can I become a funded trader with FundedNext? To become a funded trader with FundedNext, you need to go through a structured evaluation process. This involves meeting certain trading performance targets and adhering to predefined risk management rules. Once you meet the requirements, you will be eligible for a funded account and start trading with FundedNext's capital. 5. What is the difference between FundedNext and traditional brokerage accounts? Unlike traditional brokerage accounts, FundedNext allows traders to access large amounts of capital without significant upfront investment. Traders also benefit from profit-sharing arrangements, access to advanced trading platforms, and comprehensive support from our dedicated team. FundedNext is specifically designed to support traders in achieving their trading goals while mitigating risks.
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