How to Get Funded With Funded Next Prop Company?
To get funded with Funded Next Prop company, users need first to create an account, pass the trading challenge, sign for the trading agreement, and then receive funding into the trading account.
Funded Next is a proprietary trading firm that provides funded trading accounts to skilled and professional traders. The company, one of the best in the TU rating of the best prop trading firms, was launched in 2022, and its headquarters are in the UAE (United Arab Emirates). The prop firm offers different funded trading accounts to the users, including express, stellar and evaluation challenges.
To get funded with Funded Next Prop company, users need first to create an account, pass the trading challenge, sign for the trading agreement, and then receive funding into the trading account.
However, this was just an overview of getting funded with the Funded Next Prop company. Traders Union experts have drafted a detailed explanation for the Funded Next review and Funded Next funded account program. Scroll down to explore the essential details.
How do you become a funded trader?
Funded Next provided an advanced funded account program to the traders. A few steps that need to be followed to become funded traders with Funded Next include:
Open an account
To begin with funded trading, users must visit the Funded Next website and click the “Create Account” icon. In the newly opened window, traders must enter all their required and asked information and submit their application to open an account.
Pass the trading challenge
After completing the process of opening the best funded Forex trading account with Funded Next, traders now need to complete the trading challenges, which include: Express Challenge and Evaluation Challenge, to be eligible for funding for funded accounts.
Sign up for a trading account
After passing the trading challenge with Funded Next, the next step in the funded account creation process is to sign a trading agreement with Funded Next. This agreement will outline all the terms and conditions required for funding, including the minimum account balance, maximum drawdown, and other trading-style requirements.
Get the funding
After signing the trading agreement for the account, the prop trading company will deposit the funds into your trading account, using which you can now get into trading with real money.
How long does it take to become a funded trader?
There is no set time frame or deadline to become a funded trader with Funded Next. The total time required to become a funded trader depends entirely on individuals’ trading experience and skills showcased in the Funded Next funded program. Some traders successfully obtain funds within a few months after starting the process, whereas others take a little longer to get the funding.
The timeline to becoming a funded trader and funded trading account size with FundedNext also depends on the time a trader requires to complete the trading challenge provided by the website. The more skilled in trading you are, the more profit you will lock, and the more the profits, the larger the account will be.
Funded Next audition review
If you’re wondering about the answers to what prop trading is, the Funded Next demo account will help you with an experience of prop trading with a funded account for practical exposure.
FundedNext is a prop trading firm that allows traders to start trading with funded accounts, to test their skills and experience without risking real money. However, to become a funded trader with FundedNext, traders must pass the Funded Next Audition, which is a two-step process which includes:
Qualifying round
In the qualifying round, traders receive a demo account with $10,000 virtual funds. Through these funds, traders must lock in 10% or more profit within 30 days to be successfully eligible for the next round.
Live trading round
After completing the qualifying round, the live trading account is next. In this, the traders will be given a live account with $25,000 in real funds and will have to lock in 20% or more profits in 60 days. If the trader is successful in this round, they will be funded by FundedNext.
According to the review of FundedNext audition, it is a challenging process, but it also offers a great opportunity to traders who wish to increase their trading capital.
A few pros and cons of FundedNext audition
👍 Pros
• A great way to test trading skills in the live market environment;
• Access to larger trading capital;
• Variety of funded account sizes;
• Support from the team of experienced traders.
👎 Cons
• Challenging process;
• $250 FundedNext Audition fee;
• Requires to minimum trade 100 lots per month;
• Takes 20% profit share from winning trades.
How much can I attract as a funded trader?
FundedNext offers various account sizes in their Funded Next funded account program, starting from $25,000 and lasting till $200,000. Therefore, the profits you will attract from your funded account will depend on your performance in the audition process and trading history.
FundedNext takes a 20% profit share from the winning traders. Since there is no minimum trading size requirement, traders must trade 100 lots monthly. Details for different Funded Next funded trading accounts and corresponding profit share includes:
$25,000 - 20% FundedNext Profit Share
$50,000 - 18% FundedNext Profit Share
$100,000 - 16% FundedNext Profit Share
$200,000 - 14% FundedNext Profit Share
FundedNext Audition Fee - $250
FAQs
What is the maximum funding for Funded Next?
The maximum funding for FundedNext is $300,000, provided under the stellar program.
Which broker is Funded Next use?
FundedNext uses EightCap as its broker for the MT4 platform and has developed its own broker, GrowthNext, for the MT5 platform.
What is the profit split on FundedNext?
Once you achieve the targets, you will start trading on FundedNext’s funded account with an 80% profit split. The profit split percentage can be increased all the way up to 90% based on your performance
What is the difference between funded trader and funded next?
Funded Trader is a more traditional program where traders must pass a trading challenge to be funded. Funded Next is a newer program that allows traders to be funded without passing a trading challenge.
Team that worked on the article
Upendra Goswami is a full-time digital content creator, marketer, and active investor. As a creator, he loves writing about online trading, blockchain, cryptocurrency, and stock trading.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.