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Info
Popularity & Trust
Trust Pilot Reviews: 22205
Trust Pilot Rating: 4.5
Last Update: November 13, 2024
Exist: 2.6 Years
Trust Score: 8.4 / 10*
The more reviews and the longer the firm existed will increase its Trust Score
Challenge Value
PRICE RATING
10K Fee: $99
25K Fee: $199
50K Fee: $299
100K Fee: $549
Price Score: 102*
The Price Score is calculated comparing 10K, 25K, 50K and 100K challenge costs. The average challenge Price Score is around 100. A lower number is better and means cheaper challenges.
DIFFICULTY RATING
P1 Target: 8%
P2 Target: 5%
Max Drawdown: 10%
Max Daily DD: 5%
Difficulty Score: 1.3*
Difficulty Rating is calculated on your total drawdown % compared with your total target %. Lower is better
VALUE RATING
Value Rating: 7.2 / 10*
The Value Rating is a combination of the cost of the challenges and the difficulty of passing the challenge. The best Value Rating has a score of 10 and the lowest a score of 1
VALUE NOTES
This firm offers 3 different 2-Step challenge options. We reviewed the Stellar option because we believe it provides the best value.
Rules & Restrictions
Leverage: 100:1
Daily Drawdown Type: 😀 Balance Based
Challenge Time Limit: 😀 No Time Limit
News Trading: ✅ Allowed
Hold Weekends: ✅ Yes
EA's : ⭐ Most Allowed
NEWS TRADING
News trading is allowed on all accounts except for the Express option. More info here: https://help.fundednext.com/en/articles/8021121-is-news-trading-allowed-at-fundednext
EXPERT ADVISORS
Most EA's are allowed. For a list of restricted strategies: https://help.fundednext.com/en/articles/8020351-what-are-the-restricted-prohibited-trading-strategies-at-fundednext
*Please visit the firms website for updated terms & conditions
Trade Cost
FOREX SPREAD
FX Commission: $3
EU Spread: 2
UJ Spread: 4
UF Spread: 12
FX Spread Score: 9
INDEX SPREAD
Index Commission: $0
NAS Spread: 240
S&P Spread: 72
DOW Spread: 330
Index Spread Score: 21.4
SWAP FEES
Swap Score -174
Payouts & Scaling
Fee Refund: 100%
Simulated Share: 15%
Profit Share: 80%
Scaling: ✅ Yes*
Merging: 😃 Yes
Max Combined Accounts: $300000
REFUNDS & BONUSSES
Refund on first payout after 28 days. 🔥 Get Refund + 15% Profit share on total change phase after first 5% payout. 🔥
PROFIT SHARE
95% profit share can be achieved with an addon purchase.
SCALING
40% scaling if you gain 10% in 4 months. More info here: https://help.fundednext.com/en/articles/8019659-does-fundednext-offer-a-scale-up-plan
MERGING
Accounts must be on initial balance. Up to $300k
PAYOUTS
First payout is after 1 month, then bi-weekly after that.
Please visit the firms website for updated terms & conditions
Pro’s & Con’s
✅ PRO’S
✅ MetaTrader Support ✅ Good Trust Rating ✅ Good Index Spread ⭐ Easiest 2-Step Challenge ✅ Good Challenge Value ✅ Daily DD Balance Based ✅ News Trading Allowed ✅ Hold Weekends Allowed ✅ No Challenge Time Limit ⭐ Most EA’s Allowed* ✅ Payouts in 24hours or $1000 extra ✅ Challenge Fee Refund: 100% ⭐ Profit Share From Challenge Phase: 15% ✅ Merging Allowed* ✅ Bi-Weekly Payouts ✅ Crypto Payouts
❌ CON’S
☠️ High FX Spread ☠️ High Swap Fees
Summary & Rating
THE UPSIDE
There are plenty of positives for this firm. MetaTrader support, good Trust Rating, good challenge Value Rating, no restrictions, merging, bi-weekly payouts with direct crypto payment option to name a few, but the biggest positive for us is the 15% profit share from challenge phases which can be very significant. I have also had plenty of payouts from this firm without issues.
THE DOWNSIDE
there really is only one negative for the firm and it is potentially a big one. The spread on Forex pairs is pretty high and so is the swap fees. So if you do like to trade on the smaller timeframes, perhaps 1 and 5minutes, this firm might be a problem. (We don’t have this issue with the index spreads)
IN SUMMARY
This firm has so many positives and the 15% profit share from challenge phases is probably one off the best. My only issue with this firm has been the FX Spread and I often skip trades with them since I don’t get the same reward ratio as with other firms. If they can improve in that regard I will gladly rate this at Tier 1, but for now, I rank this as Tier 2.
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