The Most Honest Fundednext Review in 2024: Is it a Scam?

Suppose you’ve spent months or even years trying to build a profitable trading strategy. Once you are done, you realize you don’t have enough capital to trade and be able to make ends meet. So, you’ll go searching for ways to acquire trading capital and stumble upon prop firms. Fundednext is known as one of the best prop trading firms available. In this article, I’ll provide a comprehensive Fundednext review as someone who has traded with this prop firm in the past.

Starting with what Fundednext is and how it works, I’ll demonstrate why many people choose prop firms to trade with and why the Fundednext prop firm specifically. Then, I’ll delve deeper and analyze the Fundednext challenges, user reviews, and my own Fundednext review based on my experience. I’ll also introduce a better Fundednext alternative for more serious and ambitious traders, Finestel.

What Is Fundednext?

Launched in 2022, Fundednext is a relatively young prop trading firm located in the United Arab Emirates (UAE). Yet, despite its limited history, it has managed to attract millions of traders from across the globe. The Fundednext prop firm provides profitable traders with capital in the form of trading accounts that traders can manage.

Yet, in order to achieve funding with the Fundednext prop firm, you should first pass a challenge to prove your profitability and receive your Fundednext certificate. These challenges come in three different models, each with their own rules and requirements. You should also pay a fee for a Fundednext challenge, which directly depends on the account size you select. The higher the account size, the more expensive the challenge becomes.

Fundednext Challenge Types

Now, let’s take a look at the first step for becoming a Fundednext trader, which is selecting the right challenge type. There are three primary types of Fundednext challenges you can choose from:

Fundednext Stellar Challenge

The Stellar challenge on the Fundednext prop firm is the most popular model for traders. Fundednext itself claims that the Stellar challenge is the most trader-friendly prop firm challenge available. It offers up to 95% profit split and has no time limit. The drawdown is also balance-based.

Fundednext offers the Stellar challenge in two formats:

1. Stellar 1-step: 2 minimum trading days
2. Stellar 2-step: 5 minimum trading days

The stellar 1-step challenge is the fasted model for getting funded with Fundednext. However, it might not be the best way, as trying to reach the profit targets in two days can result in losing the challenge. So, don’t let this idea fool you into making irrational, quick decisions.

Overall, I rate this Fundednext challenge type as the best one. I’ve always gone for Stellar Challenges, as I think they really have the best trading conditions and rules. The fact that you will also receive a 15% profit split from the challenge phase is also a huge plus.

Read our comprehensive FTMO review in 2024.

Fundednext Evaluation Model

The Fundednext Evaluation model is a standard 2-phase prop firm challenge. Profit targets are between %5 to 10%, and the overall drawdown is 10%. There is also a daily drawdown limit of 5% based on your balance at the beginning of the day.

The profits split also starts at 80% and can rise to 90%. This means that you are entitled to 80%-90% of the profits you make on your funded account once you become funded, of course.

Yet, the primary difference between the Evaluation model and the Stellar model is that you have a time limit in the former. In phase 1, you have 4 weeks to reach the profit target, and in phase 2, you’ll have 8 weeks. Moreover, if you are in profit when the challenge time is up, you can apply for as many free retakes as you want or demand a 14-day extension of the current challenge.

Fundednext Express Model

The Fundednext Express model has the most distinct structure. You have to reach a 25% profit target with no time limit. Once you achieve this goal, you will be funded. However, the profit split on Express accounts is 60%. Meanwhile, if you perform well over the long run, it can rise up to 90%.

There is still a daily drawdown limit of 5% and a maximum overall drawdown of 10%. This is why I believe the Express model has no advantage over the Stellar model whatsoever. In fact, this model always seemed very odd to me, and I didn’t ever purchase and express challenge.

Fundednext Pricing Review

Now, let’s analyze Fundednext challenge prices and the overall pricing structure. In order to have a fair Fundednext review and comparison, I’ll consider the Stellar model as a reference. This is because I believe the Stellar challenge is the best model available on the Fundednext prop firm, and it is also the most similar challenge type to other standard prop firm challenges.

Let’s take a look at the standard Stellar challenge prices:

And here are some other key factors:

• No time limit
• 5 minimum trading days
• $3 per lot commissions
• Up to 95% profit split
• 1:100 leverage
• News trading, weekend holding, EAs, and trade copiers are allowed

Looking at these Fundednext challenge rules and conditions, the pricing structure is relatively fair and very competitive. You can also bring these prices further down using Fundednext coupon codes. Simply search the term “Fundednext discount code” on Google, and hundreds of them will pop up. Participating in Fundednext competitions is also another method, and you can get free challenges if you win the contest.

Either way, I recommend you try the Fundednext free trial first. Use it to practice and test the trading conditions and rules before buying a challenge.

Is Fundednext Legit?

As you’ve already seen, Fundednext offers some of the best challenge conditions in the prop firm industry. However, are they really trustworthy? Well, it depends on your viewpoint. But let me give you my honest Fundednext review.

Almost every prop firm’s revenue comes from the traders who pay for challenges but lose them. This is because even in the funded phase, you will be trading on a demo account. Now, this gives the prop firms an incentive to make things hard for you.

While you might think that Fundednext challenges are very trader-friendly, there is one major issue with this prop firm that I’ve encountered myself, and that is slippage. I had multiple Fundednext challenges and accounts, and the slippage was the worst I’ve ever seen. 

By slippage, I mean the delay in executing an order or the price difference between your desired point of entry and the actual one. For example, I remember some trades I executed on timeframes below 15m that were in significant drawdown right the moment I entered. This was because the actual entry points on my longs (shorts) were way higher (lower) than my desired ones. Things are even worse once you get funded and before you get your first payout (and the refund).

I don’t think there is any reasonable explanation for this because neither your challenge nor your funded account on Fundednext is a real account.  Why should you experience this much slippage in demo trading unless it’s by design to make you fail?

Fundednext was one of those prop firms that I loved once, and when I found out what was really going on behind the scenes and that those guys were actually trying to make traders lose, I was very disappointed. Yet, thanks to them, I began to pursue my dream of creating my own asset management business with real clients.

Finestel: The Best Fundednext Alternative for Pros

As I mentioned above, when I realized how the prop firm industry really works, I decided to pursue real clients and investors. I wanted to build my own hedge fund and trade real money for real investors. If you’ve read this Fundednext review carefully, you’ll know that’s not the case with most prop firms. Yet, with Finestel, I was able to build my own digital crypto hedge fund in a matter of minutes.

Finestel’s advanced copy trading bot allows instant replication of orders in numerous exchange accounts. So, your investors need not worry about the security of their funds, as they remain in their own exchange accounts. You will only have access to trade on their capital via API keys.

Moreover, using Finestel’s white label solution, you can create a platform and website for your own asset management business and brand it with your logo. The additional features like CRM and marketing tools available on your dashboard make your outreach to potential investors very convenient.

You will also have access to detailed performance analytics, portfolio trackers, and reports. So, you can send potential investors a detailed analysis of your performance (automatically produced by Finestel) and refer them to your personalized website (again, made by Finestel) to find out more about you. 

With Finestel, raising AUM is easier than ever before. You can also add your strategy to Finestel’s strategy marketplace, and our own investors will likely copy you if you are profitable, of course.

If you are not familiar with the concepts I mentioned, just read this comprehensive article about what is copy trading and how it can elevate your trading and help you raise real AUM.

Fundednext Reviews by Traders

Let’s get back to Fundednext and check out what traders think about the prop firm. I reviewed some online forums and questions, so you don’t have to. Here’s a brief recap:

Fundednext Reviews on Reddit

Looking at Fundednext Reddit reviews, users have highlighted several positive aspects of the company. Many traders appreciate that the platform still works with MetaTrader (most prop firms don’t anymore). Additionally, the user-friendly Fundednext app, its 24/7 live support system, and frequent Fundednext discount codes and giveaways are also appreciated.

However, several traders have expressed significant concerns about the FundedNext prop firm trying to make them lose challenges. These comments are mostly regarding high slippage. Some also reported instances of stop-loss hunting and account breaches, even when valid stop-losses were in place. There are also mentions of issues with payout delays or non-payment. Also, Fundednext does not accept new users from the US because of its unregulated status in the United States.

Fundednext Reviews on Quora

I analyzed the answers to some questions on Quora, including “Is Fundednext a scam?” or “Is Fundednext legit?” to get a full view. I found out that Fundednext Quora reviews are also mixed. Some traders consider FundedNext legitimate and reliable. Users like its balance-based drawdown models, 15% profit share during the challenge phase, and supportive customer service.

Conversely, several Fundednext reviews on Quora include negative experiences. Issues such as extreme slippage and accounts being closed unexpectedly have been reported. Some traders have experienced substantial losses due to their stop-losses being hit prematurely with significant slippage. These issues further boost the Fundednext scam accusations.

Fundednext Reviews on Trustpilot

There are tons of Fundednext Trustpilot reviews available. From over 15,000 reviews, the company has got a TrustScore of 4.5 out of 5, which is impressive. In fact, users on Trustpilot mostly praise the Fundednext prop firm, claiming it is a legitimate funding company. Quick payouts, customer support, and better challenge rules are some positives users mentioned. A handful of traders even put Fundednext up with FTMO as the best prop trading firm.

However, some users have mentioned the slippage problem and unexpected account breaches once again. These problems apparently become even worse when users pass challenges and get their Fundednext certificate. So, while Fundednext reviews on Trustpilot are generally positive, the slippage issue that I also mentioned in my own experience is a real problem.

Conclusion

To wrap up our Fundednext review, it is really one of the best CFD prop trading firms available. However, the problem with these firms is that they are mostly unregulated, so they can do almost whatever they want in their “simulated environment.” Meanwhile, if you know how to beat them at their own game, it’s a really quick way to grow your trading capital.

Yet, I personally prefer a more professional trading and asset management. Managing my own hedge fund and portfolios for real investors has always been my passion. If you also seek a more serious approach to trading, Finestel can give you whatever you need to succeed. Just be a good trader, and we will help you attract investors.

Do you also want your own digital hedge fund? Get started with Finestel for free right now!