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FundedNext is a proprietary trading firm that provides traders with an opportunity to access significant capital by passing a two-step evaluation process. Here’s a breakdown of the FundedNext account details:
1. Account Types
FundedNext offers two main types of accounts:
- Evaluation Account: Traders need to pass two phases to be funded.
- Phase 1: Achieve a profit target (usually around 8%) within a set number of days (e.g., 30 days) while adhering to risk management rules.
- Phase 2: A second evaluation period where traders aim for a smaller profit target (around 5%) over another set of days (e.g., 60 days).
- Funded Account: Upon passing both phases, traders are given a fully funded account with a larger capital allocation and the ability to keep a percentage of the profits (usually around 80%).
- Express Account: This skips the evaluation process, giving traders instant access to a funded account but with tighter risk management rules. Profits can be split with the firm, typically on an 80-20 basis in favor of the trader.
2. Capital Allocation
- Starting Capital: Depending on the account type, traders can begin with capital ranging from $10,000 to $200,000, with potential scaling options as they prove consistent performance.
- Scaling Plan: FundedNext offers a scaling plan where successful traders can increase their account size over time, reaching up to $4 million.
3. Profit Split
FundedNext is known for a generous profit split:
- Up to 90% profit share for traders who meet performance criteria and adhere to risk management rules.
4. Rules and Risk Management
FundedNext enforces strict rules to ensure traders follow good risk management:
- Daily drawdown limits (e.g., 5% of the total account).
- Maximum drawdown limits (e.g., 10% of the total account).
- Trading days: A minimum number of trading days is usually required during the evaluation period.
5. Evaluation Fees
There is an initial evaluation fee traders need to pay to access the FundedNext platform. This fee varies based on the account size chosen, and it’s usually refundable upon successful completion of the evaluation phases.
6. Support and Resources
FundedNext provides:
- Educational resources and tools to help traders succeed.
- Account analytics to monitor performance.
- Community support via forums and webinars.
If you’re a skilled trader looking to scale up with access to significant capital, FundedNext could be a great opportunity for you. Keep in mind that trading carries inherent risks, and it’s essential to trade responsibly.
