Funded Next Challenge: Fees, Benefits of Joining
The Funded Next Challenge is a trading challenge in which the investors or traders are awarded real money into their trading account.
Funded Next is a leading proprietary trading firm incorporated on 18th March 2022 and launched in 2009 that provides funded trading accounts to novice and professional Forex traders.
This typical prop firm comes in the list of prop trading firms, with its headquarters located in the UAE (United Arab Emirates). Funded Next is a multi-million dollar prop trading company with offices in the USA and Southeast Asia.
This prop firm also provides a trading contest called the Funded Next Challenge. You see, in this challenge, the traders have to showcase their ability to earn consistent profits. And those who complete (win) the challenge get funded with up to 200K in their trading account.
Traders Union experts have outlined a detailed explanation of what Funded Next Challenge is , Funded Next Challenge fee and Funded Next Challenge rules.
Scroll down to scour the essential details.
What is the Funded Next Challenge?
The Funded Next Challenge is a trading challenge in which the investors or traders are awarded real money into their trading account.
And for this to happen, traders must obtain their own funded account.
You see, this prop trading firm offers three types of programs to choose from, which have their own set of Funded Next challenge rules.
To begin with:
Stellar Model
There are two variations in Stellar Model one is:
2-step and 1-step variation.
In the 2-step Stellar challenge, the trader must first hit the profit target of 8% and then 5% (with no time limit). And traders' daily loss limit must not exceed 5% of their initial account balance. Ensure your total drawdown loss does not exceed 10% of your initial account balance.
In the 1-step Stellar challenge, the trader must hit the profit target of 10% (with no time limit). And traders' daily loss limit must not exceed 3 % of their initial account balance. Ensure your total drawdown loss does not exceed 6% of your initial account balance.
Evaluation Model
This program is like a talent scout for skilled traders who are rewarded for their consistency but through a two-phase evaluation period.
In phase one, the trader must hit the profit target of 10% within four weeks but not surpass more than a 5% loss (daily). And to move further in phase two, the trader must trade at least five days a week.
In phase two, the trader needs to hit the profit target of 5%, but this time it's within eight weeks but not surpassing more than a 5% loss (daily).
Once these two phases are complete, traders are granted the funded account with no fixed profit target. The profit split will be 80%, and the payment will be made bi-weekly (after your first payout).
Express Model
The express challenge provides two types of accounts Consistency and Non-Consistency.
Both of these accounts' challenge amounts are 200k and 100k.
In the Consistency account, traders can hold their trades overnight but have to close it 15 minutes before the market closing time and that (too on) Friday.
In Non-Consistency accounts, traders can hold their trades overnight and on weekends.
The daily drawdown loss for traders must not exceed 5% of their initial account balance. conditions of the challenge (commissions, initial deposit, etc.)
| Funded Next | SurgeTrader | Fidelcrest | |
|---|---|---|---|
Minimum subscription |
$99 |
$250 |
€99 |
Account Currencies |
USD |
USD |
USD, EUR |
Why join the Funded Next Challenge?
There are countless reasons why you must join Funded Next Challenge:
Investors get funded to trade with real money without risking their own money that too with only $99 (Funded Next Challenge fee).
In the live market, novice traders can test their trading skills with Funded Next Challenge programs.
You also get to learn from the news calendars.
How to successfully complete the Funded Next Challenge
Here are some pointers on how you can successfully complete the Funded Next Challenge:
Make sure you are ready before signing up for this FundedNext account challenge because the trading you do in the demo account differs from the trading you execute with a real fund account.
Adapt your trading strategy purposely.
Stick to the Funded Next Challenge rules to avoid resetting your account.
Ensure you've included entry & exit points for each trade in your strategy.
Maintain the consistency rule.
Difficulties with passing the Funded Next Challenge
Here are some difficulties that a trader might face while completing the Funded Next Challenge and following the Funded Next Challenge rules:
As per the Funded Next Challenge rules, traders are required to achieve a specific profit target within a given timeframe.
Traders have to manage their risk carefully, especially when they are trading with a funded account.
Stay disciplined and consistent, which most traders fail to do if they're experiencing losses.
FAQs
Is there a time limit on Funded next?
No, there's no time limit on Funded Next Challenge. Investors can trade with complete peace of mind without worrying about reaching profits within the given time.
What are the rules for Funded next?
Investors can start earning profit share from the first month, but in two ways, i.e. 15% in their Express Model demo account until you gain 25% profit share.
Once the 25% mark is reached, you'll get a profit share of 60% in your real account (on your first withdrawal). 75% on the second and 90% profit share on the third withdrawal.
FundedNext is one of the few companies that allows you to earn money during the evaluation phase.
What are the rules for funded next Evaluation?
Investors are allowed a maximum of 10% of the overall drawdown.
In phase-1, traders need to hit the profit target of 10% without violating any rules.
And in phase-2, traders need to hit the profit target of 8% within eight weeks.
What is funded next about?
Funded Next is a typical proprietary trading firm that provides funded trading accounts to skilled and professional traders.
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.