FundedNext Vision & Ambition
With a vision to fund promising traders from around the world, FundedNext, the fastest growing prop firm in the world, has been actively becoming a very familiar name in the trading industry. What started as a vision is now a blatant reality and a ray of hope for countless traders worldwide. Since launch, FundedNext has been operating and scaling successfully, impacting the lives of thousands of traders.
Why We Introduced 15% Profit Share?
One of the many reasons traders love trading with FundedNext is a revolutionary feature called the “15% Profit Sharing from the Challenge Phase”. The feature is exclusive to this firm, making FundedNext the only prop firm to offer such a feature. Traders love the fact that once they get funded with FundedNext, they not only receive an 80 to 90% profit split and a refund of their registration fee, but they also receive a 15% profit share from the “demo” profits they made during phase 1 and phase 2 of their evaluations.
How 15% Profit Sharing Has Impacted Countless Traders?
Traders who pass the 200k, 100k, 50k, 25k, and 15k challenges with FundedNext get an additional $4500, $2250, $1125, $562.5, and $337.5 respectively during their first payout-all thanks to the 15% profit sharing from the challenge phase. This feature is a major addition to the commonly established evaluation model. FundedNext traders have access to and the opportunity to take home more money than what they could with any other prop firm.
We, at FundedNext, have had the same vision for this feature since the beginning. We have always wanted traders to see the value in trading with FundedNext. FundedNext already provides arguably the best trading environment, a.k.a. spreads, commissions, fills, etc., and the best customer support. The 15% profit sharing works as a cherry on the cake, and traders love the unmatched value FundedNext provides as a prop firm. Our goal has always been to motivate and encourage skilled traders to join FundedNext and trade our capital.
How Are Some Traders Misusing This Feature?
However, as we continue to expand, we are noticing that a significant number of newly funded traders are attempting to exploit this unique opportunity. Upon getting a funded account, some traders are not actively trading. They are taking the lowest of position sizes and smallest of risks just to reach the payout date and grab the 15% bonus.
Now, as a firm, we have no problem if a few of our funded traders want to take their time, take it slow and wait for their trades, etc. However, if there is a blatant effort to ‘not really’ trade and just become eligible for a payout so that s/he can get the 15% profit share, that IS a problem.
Some bad actors have been making the 15% bonus the whole point of taking the challenge, taking on numerous challenges just to reach the real phase, taking a few small trades, staying inactive for the rest of the days, and waiting till the first payout date to get the bonus. Since the bonus amount is hefty, some funded traders even become reluctant once they get the bonus and trade carelessly with the firm’s money. Overall, the entire initiative becomes counterproductive for the firm because of some bad actors. It’s also unfair to the funded traders who are actively trading responsibly and making the firm money.
All in all, this practice destroys the sanctity of the whole initiative. The very reason this 15% profit sharing exists is to reward trading performance and motivate traders to trade better in the future for the firm. However, if funded traders stop trading altogether once they get the funded account in anticipation of the 15% profit sharing, then this is a problem.
What We Will Do to Stop the Misuse?
We have recognised this problem with a noticeable portion of the newly funded traders and we want to address it with an update, effective immediately.
Update : From now on, to receive the 15% profit sharing from phase 1 and phase 2, traders will have to make at least 5% account growth in the funded account. The trader may use as many payout cycles as necessary to reach the 5% account growth target.
What Does the 15% Profit Sharing Look Like After the Change?
Let’s clear up this update with 2 examples.
Example 1 – Trader Getting 15% Profit Sharing in 1st Payout: The trader passed his phase 1 and phase 2 on a 100k evaluation challenge. The trader receives his funded real account. He trades the funded real account normally and makes a profit of 7%. Since the trader has achieved an account growth of more than 5%, he is eligible for the 15% profit sharing.
Now, during his payout, he gets a refund of his registration fee, an 80% profit split from his 7% profit on the real account, and a 15% profit share from the challenge phase, $2250 in this case.
Example 2 – Trader Getting 15% Profit Sharing in 2nd Payout: Trader passed his phase 1 and phase 2 on a 100k evaluation challenge. The trader receives his funded real account. He decides to take things a bit slow and completes his first cycle with a 2% profit.
Now, during his payout, he gets a refund of his registration fee and an 80% profit split from his 2% profit on the real account. He does not receive the 15% profit share from the challenge phase since his net profit was below 5% till now.
He again starts trading in the next cycle. In this cycle, he makes a 3% profit. His total net profit from the last trading cycle and this trading cycle is now 2%+3% = 5%. This means the trader has unlocked the 15% profit share.
Now, during his 2nd payout, he gets the 15% profit share, or $2250 in this case, and a 80% profit split from the 3% profit he made on the real account.
This update will ensure that funded traders are trading and not merely waiting out the period till they receive the 15% profit share. This will allow us to eliminate bad actors and truly appreciate the skilled traders who are actually contributing to the growth and longevity of the firm and its capital.
Will this rule be effective for the accounts purchased prior to this announcement?
No. It will only be effective if you purchase or reset an account after the announcement.
Is there a time limit to grow my account by 5%?
There is no time limit whatsoever to grow your account by 5%.
Is it a profit target?
No, it is not a profit target.
Will this be applicable for both of the models?
No, this is only applicable to the evaluation model.
When will I get the refund of my registration fee?
You will receive the refund of your registration fee with the first payout.