FundedNext Review: Let’s First Outline The Key Facts

FundedNext is a proprietary trading firm that provides funding opportunities to traders worldwide. Traders can choose from four distinct programs: Two-step Stellar, One-step Stellar, Evaluation, and Express.

FundedNext aims to empower traders by providing them with the capital and support they need to succeed in their trading careers but is this platform legit? Find out in our FundedNext review.

Legal Info: The FundedNext Legal Background

The FundedNext prop firm is based in the Ajman Free Zone, United Arab Emirates. As a prop firm, FundedNext provides the capital and platform that traders use to make profits, which are later split between the company and the trader. The proprietary business does not require special licensing.

But what about the brokers that operate the MT platforms, GrowthNext (UAE) and Incenteco Trading Ltd (Cyprus)? We looked up these providers in the registers of the UAE’s SCA & Central Bank and CySEC. Neither provider is regulated.

Trading on unregulated platforms (e.g. Metabit Exchange) is pretty risky, please keep that in mind. You will not be entitled to compensation as you normally would if you traded with licensed European brokers.

In case you lost money online, we can help you get it back. Contact us today! 

Who Are FundedNext’s Clients?

According to godaddy.com, the fundednext.com website domain was created on April 17, 2019. Since then, the prop firm has been accepting clients from all around the world. The majority of FundedNext’s clients reside in the following countries:

• India;
• Pakistan;
• Nigeria;
• Malaysia;
• United States.

The website traffic data from similarweb.com indicates that the number of visits to FundedNext’s website has been gradually rising over the past three months, from around 950k in May to 2.8m in July. 

Trader Reviews

We have arrived at a critical point in the assessment of FundedNext. What do traders say about this prop firm? On the FundedNext trustpilot page, there were 6,631 reviews at the time of this writing, and the company had an incredible rating of 4.7 (excellent).

However, among all these positive reviews, you can find many complaints. Traders expressed their frustrations with freezing accounts, withdrawal issues, platform malfunctions, and even directly accusing FundedNext of being a scam. The company received noticeably worse reviews on sitejabber.com (63 reviews – 2.4/5) with multiple complaints.

On forexpeacearmy.com (FPA), one trader provided evidence of his account getting terminated without proper justification. In response, the FPA moderation team said that it “has seen evidence supporting this reviewer’s claim that a positive review on another review site was required before an issue was resolved,” which is not a good look for FundedNext.

If you’re experiencing any of these issues, do not hesitate to contact us.

FundedNext MT4 & MT5 Platforms

FundedNext offers traders access to two trading platforms – MetaTrader 4 (MT4) and MetaTrader 5 (MT5). For additional convenience, the FundedNext app allows users to trade on the go on their Android and iOS mobile devices.

Both MT platforms provide a range of cutting-edge tools and options such as user-friendly interfaces, advanced charting capabilities, and automated & algorithmic trading features.

The MT platforms are supported by GrowthNext (MT5) and Incenteco Trading Ltd (MT4) and as we mentioned, these providers are not regulated. You must be careful because unregulated platforms such as Duo Markets are often cyber traps. 

FundedNext Stellar Challenge rules

Since FundedNext’s website claims that the Stellar Challenge is the most popular among clients, that’s the one we will be covering. The Stellar Challenge consists of two phases, each with its own set of rules and requirements:

• Phase 1:
  • Profit Target: 8%;
  • Maximum Daily Loss: 5%;
  • Maximum Loss: 10%;
  • Minimum Trading Days: 5 days.

• Phase 2:
  • Profit Target: 5%;
  • Maximum Daily Loss: 5%;
  • Maximum Loss: 10%;
  • Minimum Trading Days: 5 days.

Upon successfully completing both phases, traders are awarded a funded account with no profit targets. They are only required to adhere to the 5% maximum daily loss and 10% maximum loss rules. 

Additionally, traders receive profit splits based on their performance during the challenge phases, with an initial profit split of 80% and a 15% profit share for each challenge phase once a 5% return is achieved on the funded account. Subsequent profit splits are paid bi-weekly.

Should any issues arise, feel free to call us for help.

FundedNext Trading Conditions

FundedNext offers three tradeable asset classes:

• Forex currency pairs – EUR/USD, GBP/USD…
• Indices – S&P 500, FTSE 100…
• Commodities – gold, crude oil, coffee…

As for the trading conditions, traders can set a maximum leverage of 1:100 It’s important to responsibly use high leverage with caution as it can amplify not only profits but also losses.

The FundedNext spreads vary for each platform but the company advertises raw spreads. Although exact amounts weren’t disclosed, it can be assumed that the spreads are tight, i.e. close to zero with a 3 USD commission.

FundedNext withdrawal process

FundedNext listed several payment methods that can be used to deposit and withdraw funds:

• Credit/debit cards;
• Wire transfers;
• Cryptocurrencies
• E-wallets.

According to the website, it usually takes the company between 24 and 48 hours to process withdrawal requests. If you notice that something is wrong, feel free to request a refund from the company.

If you get rejected, consider the chargeback option. Funds deposited via MasterCard and VISA cards can be refunded simply by requesting a chargeback at your issuing bank within 540 days.

Key Information To Consider About FundedNext

To sum up, FundedNext is a UAE-based prop firm that provides advanced software and funds to traders. After passing the evaluation test, you become a FundedNext trader and all your profits are split between you and the company, in your favor.

We deal with unregulated platforms such as Treenvest all the time. If you want to retrieve your funds from FundedNext, you should seek out professional assistance. Please book a free consultation with us and tell us more about your case.

Book your free consultation today and start the chargeback process.

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