Our aim in this article is to provide a detailed comparison between FundedNext and The Funded Trader, two prominent players in the world of proprietary trading firms, highlighting their offerings for forex traders globally.
Company Overview
FundedNext and The Funded Trader are recognized for their reliability and trustworthiness in the proprietary trading industry. FundedNext, founded in March 2022 with Abdullah Jayed as CEO, operates from the United Arab Emirates and Bangladesh. In contrast, The Funded Trader, which commenced operations in May 2021 under Angelo Ciaramello’s leadership, is headquartered in Liberty Hill, Texas. FundedNext offers a maximum allocation capital of $300,000, whereas The Funded Trader extends up to $1,500,000. Both firms are noted for their scaling plans, catering to traders’ growth aspirations.
Funding Program Options
Both FundedNext and The Funded Trader offer a range of funding programs. FundedNext provides two one-step evaluations and two two-step evaluations. In comparison, The Funded Trader offers one one-step evaluation and three two-step evaluations, catering to diverse trader needs.
One-Step Evaluation: A Comparative Overview
- Profit Target: FundedNext ranges from 10% to 25%, whereas The Funded Trader sets a 10% target.
- Daily Drawdown: 3% to 5% for FundedNext and 3% for The Funded Trader.
- Overall Drawdown: 6% to 10% for FundedNext and 6% (Trailing) for The Funded Trader.
- Leverage: 1:100 for all FundedNext evaluations; The Funded Trader offers 1:30.
- Minimum Trading Days: 5 to 10 calendar days for FundedNext; no limit for The Funded Trader.
- Trading Period: Unlimited for both firms.
- Profit Split: FundedNext offers 60% to 90%, while The Funded Trader ranges from 80% to 90%.
Price Comparison Across Account Sizes
Detailed pricing for various account sizes offered by the two firms is as follows:
- $5,000: Not available with FundedNext; $59 with The Funded Trader.
- $6,000: $59 to $59 with FundedNext; not available with The Funded Trader.
- $10,000: Not available with FundedNext; $99 with The Funded Trader.
- $15,000: $119 to $119 with FundedNext; not available with The Funded Trader.
- $25,000: $199 to $229 with FundedNext; $189 with The Funded Trader.
- $50,000: $299 to $379 with FundedNext; $289 with The Funded Trader.
- $100,000: $519 to $699 with FundedNext; $489 with The Funded Trader.
- $200,000: $999 with FundedNext; $939 with The Funded Trader.
Brokers & Trading Platforms
FundedNext is associated with brokers Incenteco and GrowthNext, while The Funded Trader partners with Eightcap, Purple Trading Seychelles, and Think Markets. Both entities utilize MetaTrader 4 and MetaTrader 5 platforms.
Trading Instruments
A key factor in comparing these firms is the range of trading instruments they offer. Both FundedNext and The Funded Trader enable trading in Forex pairs, commodities, and indices. However, only The Funded Trader offers cryptocurrency trading.
Community Feedback and Reputation
Feedback from Trustpilot reveals that FundedNext has a 4.7/5 rating from 7,049 reviews, while The Funded Trader holds a 4.5/5 rating from 13,361 reviews, indicating The Funded Trader’s higher popularity in the market.
Conclusion
In conclusion, FundedNext and The Funded Trader emerge as two robust options for traders in the proprietary trading space. While they exhibit clear differences in trading rules, objectives, pricing, and community feedback, each firm offers unique benefits and program options tailored to diverse trading strategies and goals.
