FundedNext Review 2023 | Is FundedNext Right for Me?
If you’re interested in finding a solid forex prop firm, then FundedNext may be a good option to consider. It’s a prop firm that caters to both new and more seasoned traders, providing personalized service and an array of funded accounts. Plus, there’s a strong community on Discord where ideas can be exchanged, as well as educational resources, news updates, podcasts, and more.
That said, FundedNext doesn’t necessarily outshine all its competitors. To have a good sense of any prop firm, it’s important to understand its ins and outs, including its evaluation rules and pricing. So, keep reading to learn about how FundedNext works, plus its top features and pricing.
How Does FundedNext Work?
FundedNext works like most prop firms in that it provides a funded account for profitable traders to use. That said, it specializes in forex and only provides integration with MetaTrader, so you will need to keep that in mind.
FundedNext offers two primary ways of obtaining your own funded account. There’s an Evaluation option as well as an Express option. As the names suggest, you can either test your way into a funded account or opt for a more direct approach through direct funding.
FundedNext prides itself on quickly delivering accounts, having low commissions and great spreads through MetaTrader integration, and offering trader-friendly leverage. Covering these features will give you a better sense of how FundedNext operates and what its main benefits are.
FundedNext provides various notable features that help set it apart from other online forex prop firms, including the following:
- Fast account access – Some prop firms will take you days if not weeks to gain access to a funded account. FundedNext aims to offer flexibility so that successful and confident traders can quickly access a funded account in a matter of minutes, if not seconds.
- Realistic profit targets – The last thing you want when you’re undergoing a prop firm challenge is to have super difficult profit targets. FundedNext aims to keep the boundaries to a funded account on the reasonable side.
- Low commissions and raw spreads – Commissions and spreads are vital to successful forex trading, and FundedNext aims to provide many assets for trading with reasonable commissions and raw spreads. This enables exotic pair trading, scalping, and more.
- Good leverage – FundedNext offers leverage up to 1:100 for all their trading accounts. This means that traders can use appropriate lot sizes even when using small stop losses. This makes trading much more flexible.
- Apps – Not a lot of prop firms have mobile apps, but FundedNext offers an Android app to ensure that you can stay on track even when you’re on the go. An app for iOS is also coming soon on the App Store.
- Discord community – Not every prop firm offers a robust community either, but with FundedNext you can count on an active trader community that can help you learn and is a great place to exchange trading strategies.
FundedNext Pricing & Plans
FundedNext offers competitive pricing and many different plans.
To give you a sense of FundedNext’s pricing and evaluation rules, here’s an overview of a $25,000 Evaluation account with MetaTrader 5.
$25k Evaluation Account (MetaTrader 5)
- Maximum Daily Loss | $1,250
- Maximum Overall Loss | $2,500
- Reset Fee | 90%
- Minimum Trading Days | 5
- Trading Leverage | 1:100
- One-time Fee (refundable) | $199
For more specifics on this account and others, be sure to verify with FundedNext yourself.
Is FundedNext Worth It?
FundedNext is definitely worth considering for traders interested in a forex prop firm. This FundedNext review helped take you through FundedNext’s many features, some of which include an active Discord community, trader-friendly leverage, and fast account access.
FundedNext also sports a 4.6/5 rating on Trustpilot, so you can have confidence it isn’t a scam.
To check out FundedNext for yourself, click here to see how it aligns with what you’re looking for in a forex prop firm.