Good evening,
i tried “Funded Next” for trading the first time with a prop firm, because they offer the cheapest challenges, but something very strange happened which took all my sympathie i had for them:
I traded on a 5000 K challenge acount, max.daily loss 200 USD, took a position russel 2000 short 2 contracts,(this was nearly the maximum what i could open) which was worth 20 USD /point Russel move.
Normally the spread is approx. 0.8 points, i know that under certain circumstances spreads widen very much ( interest decisions, NFP, CPI, speech of powell…) but in my case when i opened the position there was none of those circumstances. In the moment i opened the trade i got a spread of 8!!!points instead of 0.8, an i was emmidiatly in minus with 160 USD after the position was openened and close to be wiped out of the challenge….ironicaly immediatly after the position was opened, the spread was again back at 0.8 points…
When i asked the support why i got that spread, they just said if i open larger position that can happen.
Really? Trading under such circumstances is senseless – is that common for prop firms, that they wipe out their clients with such measures to make them pay another challenge fee?
Thanks!
.
