FundedNext is one of the newest legitimate proprietary trading firms in the industry that is offering traders funding with an Evaluation or Express model. They were incorporated on the 18th of March, 2022 with offices located in the UAE, USA, UK, and Bangladesh.
Express model accounts are similar to other one-step challenges that other proprietary trading firms offer.
They offer four different account sizes:
- $15,000 account for a one-time fee of $119
- $25,000 account for a one-time fee of $229
- $50,000 account for a one-time fee of $379
- $100,000 account for a one-time fee of $699
The rules of the one-step challenge are the following:
- Profit target: 25%
- Daily drawdown: 5%
- Maximum starting balance drawdown: 10%
- Minimum trading days: 10 calendar days
- Maximum trading period: No limit
- Leverage: 1:100
- Profit split: 15% of the profit made in the challenge
After successfully completing the one-step challenge, you receive a funded account of the same balance of your evaluation account while also becoming eligible to profit splits of 60%, which have the potential to increase to 70% and end at 90%. You should consider that the Express model account requires you to follow the consistency rule.
FundedNext also has a scaling plan that is available to traders who are consistent throughout a longer time period. The requirements to be eligible for the scaling plan are that you must have at least 10% account growth in four consecutive months. In the four-month period, you are required to make a minimum of two payouts and your last month must end in profit. Everyone that meets the mentioned criteria will get a 40% account balance increase up to a cap of $4,000,000.