FundedNext Review 2023 – Is This Prop Trading Firm Legit? My Experience
Prop firms that offer funded trading accounts have surged in popularity in recent years. But between so many options now, how can you identify reputable firms from potential scams? One prop trading company that kept appearing in my research was FundedNext. They promise funded accounts up to $1 million to proven traders. But are they legit and worth trading with? I decided to dig deeper and write an in-depth, unbiased FundedNext review based on my own experience testing their platform. After trading on a funded account for months, here is my full analysis of this prop firm.
The Appeal of Trading with FundedNext
First, let’s look at why FundedNext grabs attention and appeals to traders seeking a funded account:- Funding available up to $1 million with up to 90% profit share
- Verify trading strategy on a demo before funding
- Low fees and daily drawdown limits before profit split
- Support available in English, Spanish, Portuguese
- Positive Trustpilot reviews and active user community
How the FundedNext Evaluation and Funding Process Works
FundedNext uses a two-phase model to vet traders and provide funding: Phase 1 is a temporary demo account to evaluate your strategy. You must pass risk and profit targets over 15-90 days to advance. Phase 2 is a real money account up to $1 million funded based on your demo results. You keep 70-90% of profits each month. I went through both phases in my own testing. The application and onboarding process was smooth. Now let’s look at my trading experience.My Experience Trading on a FundedNext Account
After being approved for funding, I started cautiously by requesting a $25,000 account. Trading conditions were excellent with tight spreads, fast execution and a dedicated account manager. Over my first few months trading forex, here were my key observations:- MetaTrader 4 platform worked flawlessly
- Withdrawals processed fast when requested
- Account manager was responsive when I had questions
- FTMO-style profit target kept me focused
- Rarely received margin call warnings despite volatility
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The Good and Bad of Trading with FundedNext
Based on my firsthand experience trading a funded account, here are the notable pros and cons: PROS- Advanced MetaTrader 4 platform with tight spreads
- 70-90% profit split very favorable
- Dedicated account manager provides good support
- Easy to withdraw profits quickly
- Accepts many trading styles and instruments
- $1 million max funding lower than some firms
- Trading minimums required during profit split phase
- Strict risk limits could constrain very aggressive traders
- Can’t use other platforms like cTrader currently
Costs and Pricing for FundedNext Accounts
FundedNext has a simple, transparent pricing model:- Challenge phase demo is free
- Funded accounts cost 15% of amount funded
Q: Is FundedNext a legitimate prop trading firm?
A: FundedNext is a proprietary trading firm that is officially registered and recognized. It is a legitimate platform for traders looking to get funded and start trading.Q: What is FundedNext’s evaluation model?
A: Funded Next uses an evaluation model where traders are required to pass a trading challenge to receive funding. This evaluation process helps in assessing a trader’s skills and abilities.Q: How can I get funded by FundedNext?
A: To get funded by FundedNext, you need to pass their evaluation challenge. Once you pass the challenge, you will receive an email with details about getting funded and starting your trading journey.Q: Can you tell me more about FundedNext’s funding model?
A: FundedNext offers a profit-sharing funding model. This means that traders receive a percentage of their profits as their payout. The exact payout percentage may vary based on the trader’s performance and trading conditions.Q: Are there any user reviews of FundedNext available?
A: Yes, there are user reviews of FundedNext available. Traders who have used FundedNext’s services have shared their experiences and feedback on various platforms and forums.Q: What trading platforms does FundedNext support?
A: FundedNext supports the popular trading platform MetaTrader 4 (MT4). Traders can use MT4 to execute trades, analyze markets, and develop trading strategies.Q: Does FundedNext have a dashboard or online platform for traders?
A: Yes, FundedNext provides traders with a user-friendly dashboard where they can track their account balance, access trading tools, and monitor their trades. The dashboard is designed to enhance the trading experience and facilitate efficient trading management.Q: Is FundedNext accessible through live chat or any other support channels?
A: Yes, FundedNext provides live chat support to assist traders with their queries and concerns. Traders can also reach out to FundedNext’s customer support team via email or other support channels.Q: Are there any negative reviews of FundedNext?
A: While there may be some negative reviews of FundedNext, it is important to consider the overall feedback and experiences of traders. It is recommended to thoroughly research and evaluate the platform based on your individual needs and requirements.Q: Is FundedNext praised by traders in customer reviews?
A: Yes, FundedNext has received positive reviews from traders in customer reviews. Traders have highlighted the platform’s funding opportunities, trading conditions, and overall experience with FundedNext.
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Final Verdict – I Recommend FundedNext
FundedNext stands out as a reputable prop firm in my experience. I’m continuing to trade my funded account and recommend them for traders seeking serious funding. They provide excellent trading conditions, responsive support, and favorable profit splits. My trading statistics have improved since switching from self-funding to their model. While every prop firm has limitations, I believe FundedNext is one of the top legitimate options available today. I encourage you to check them out yourself.Key Takeaways from My FundedNext Review
- FundedNext follows an established two phase model to provide funding
- Traders can get accounts funded up to $1 million
- Keep 70-90% of your trading profits each month
- Tight spreads and advanced MetaTrader 4 platform
- Smooth onboarding and trading experience in my case
- Legit prop trading firm based on experience and reputation
- Recommended for traders wanting serious funding under proven model