{"id":12750,"date":"2024-07-03T19:04:50","date_gmt":"2024-07-03T23:04:50","guid":{"rendered":"https:\/\/finestel.com\/blog\/?p=12750"},"modified":"2024-07-03T19:04:50","modified_gmt":"2024-07-03T23:04:50","slug":"fundednext-review","status":"publish","type":"post","link":"https:\/\/finestel.com\/blog\/fundednext-review\/","title":{"rendered":"The Most Honest Fundednext Review in 2024: Is it a Scam?"},"content":{"rendered":"

Suppose you\u2019ve spent months or even years trying to build a profitable trading strategy. Once you are done, you realize you don\u2019t have enough capital to trade and be able to make ends meet. So, you\u2019ll go searching for ways to acquire trading capital and stumble upon prop firms. Fundednext<\/a> is known as one of <\/span>the best prop trading firms<\/span><\/a> available. In this article, I\u2019ll provide a comprehensive Fundednext review as someone who has traded with this prop firm in the past.<\/span><\/p>\n

Starting with what Fundednext is and how it works, I\u2019ll demonstrate why many people choose prop firms to trade with and why the Fundednext prop firm specifically. Then, I\u2019ll delve deeper and analyze the Fundednext challenges, user reviews, and my own Fundednext review based on my experience. I\u2019ll also introduce a better Fundednext alternative for more serious and ambitious traders, Finestel.<\/span><\/p>\n

What Is Fundednext?<\/b><\/h2>\n

Launched in 2022, Fundednext is a relatively young prop trading<\/a> 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.<\/span><\/p>\n

\"The<\/p>\n

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.<\/span><\/p>\n

Fundednext Challenge Types<\/b><\/h2>\n

Now, let\u2019s 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:<\/span><\/p>\n

\"Fundednext<\/p>\n

Fundednext Stellar Challenge<\/b><\/h3>\n

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.<\/span><\/p>\n

Fundednext offers the Stellar challenge in two formats:<\/span><\/p>\n

    \n
  1. Stellar 1-step: 2 minimum trading days<\/span><\/li>\n
  2. Stellar 2-step: 5 minimum trading days<\/span><\/li>\n<\/ol>\n

    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\u2019t let this idea fool you into making irrational, quick decisions.<\/span><\/p>\n

    Overall, I rate this Fundednext challenge type as the best one. I\u2019ve 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.<\/span><\/p>\n

    Read our comprehensive FTMO review<\/a> in 2024.<\/p>\n

    Fundednext Evaluation Model<\/b><\/h3>\n

    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.<\/span><\/p>\n

    \"Fundednext<\/p>\n

    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.<\/span><\/p>\n

    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\u2019ll 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.<\/span><\/p>\n

    Fundednext Express Model<\/b><\/h3>\n

    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%.<\/span><\/p>\n

    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\u2019t ever purchase and express challenge.<\/span><\/p>\n

    Fundednext Pricing Review<\/b><\/h2>\n

    Now, let\u2019s analyze Fundednext challenge prices and the overall pricing structure. In order to have a fair Fundednext review and comparison, I\u2019ll 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.<\/span><\/p>\n

    Let\u2019s take a look at the standard Stellar challenge prices:<\/span><\/p>\n

    \n\n\n\n\n\n\n\n\n
    Account Size<\/b><\/td>\n$6,000<\/b><\/td>\n$15,000<\/b><\/td>\n$25,000<\/b><\/td>\n$50,000<\/b><\/td>\n$100,000<\/b><\/td>\n$200,000<\/b><\/td>\n<\/tr>\n
    Phase 1 Profit Target (8%)<\/span><\/td>\n$480<\/span><\/td>\n$1,200<\/span><\/td>\n$2,000<\/span><\/td>\n$4,000<\/span><\/td>\n$8,000<\/span><\/td>\n$16,000<\/span><\/td>\n<\/tr>\n
    Phase 2 Profit Target (5%)<\/span><\/td>\n$300<\/span><\/td>\n$750<\/span><\/td>\n$1,250<\/span><\/td>\n$2,500<\/span><\/td>\n$5,000<\/span><\/td>\n$10,000<\/span><\/td>\n<\/tr>\n
    Daily Loss limit (5%)<\/span><\/td>\n$300<\/span><\/td>\n$750<\/span><\/td>\n$1,250<\/span><\/td>\n$2,500<\/span><\/td>\n$5,000<\/span><\/td>\n$10,000<\/span><\/td>\n<\/tr>\n
    Overall Drawdown Limit (10%)<\/span><\/td>\n$600<\/span><\/td>\n$1,500<\/span><\/td>\n$2,500<\/span><\/td>\n$5,000<\/span><\/td>\n$10,000<\/span><\/td>\n$20,000<\/span><\/td>\n<\/tr>\n
    Refundable Fee<\/span><\/td>\n$59<\/span><\/td>\n$119<\/span><\/td>\n$199<\/span><\/td>\n$299<\/span><\/td>\n$519<\/span><\/td>\n$999<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

    And here are some other key factors:<\/span><\/p>\n