FundedNext Futures sets itself as the futures prop firm with less payout friction. This stems from its trader-friendly requirements throughout the evaluation and funding phases. Do these terms make it less troubling for traders to complete the requirements, or are there rules that make the payout much harder? This FundedNext Futures review goes through the different aspects of the firm to help you know if it provides real value to you.
FundedNext Futures at a Glance
Legacy Challenge
| 25K | 50K | 100K | |
| Profit Target | $1,250 | $3,000 | $6,000 |
| Maximum Loss Limit Based on EOD Balance |
$1,000 | $2,000 | $3,000 |
| Daily Loss Limit | None | None | None |
| Activation Fee | None | None | None |
| Max Positions (Challenge) | 2 Minis, 20 Micros | 3 Minis, 30 Micros |
5 Minis, 50 Micros
|
| Max Positions (FundedNext Account) | 3 Minis, 30 Micros | 5 Minis, 50 Micros |
7 Minis, 70 Micros
|
| Consistency Rule (Challenge Account Only) | 40% | 40% | 40% |
| Reset Fee | $73.99 | $137.99 | $229.99 |
The Legacy Challenge is FundedNext’s standard futures account. It does not have any consistency rating during the funded phase to meet before you can withdraw your gains.
Rapid Challenge
| 25K | 50K | 100K | |
| Profit Target | $1,250 | $3,000 | $6,000 |
| Maximum Loss Limit Based on EOD Balance |
$1,000 | $2,000 | $3,000 |
| Daily Loss Limit | None | None | None |
| Activation Fee | None | None | None |
| Minimum Benchmark Days | None | None | None |
| Max Positions (Challenge) | 2 Minis, 10 Micros | 3 Minis, 15 Micros |
5 Minis, 25 Micros
|
| Max Positions (FundedNext Account) | 3 Minis, 15 Micros | 5 Minis, 25 Micros |
7 Minis, 35 Micros
|
| Consistency Rule (Challenge Account Only) | 40% | 40% | 40% |
| Reset Fee | $92 | $184 | $257.99 |
The name comes from how quickly you can complete the evaluation phase, which delivers on most of its promises by removing the minimum benchmark days requirement.
Bolt Challenge
| Account Size | 50K |
| Profit Target | $3,000 |
| Maximum Loss Limit | $2,000 |
| Daily Loss Limit | $1,000 |
| Activation Fee | None |
| Minimum Benchmark Days | None |
| Max Positions |
3 Minis, 9 Micros
|
| Consistency Rule Challenge Account Only |
40% |
| Reset Fee | $91.99 |
The Bolt Challenge is an affordable FundedNext account option. What makes this one unique is the absence of a consistency rule and benchmark days for its payout requirement.
Flex Challenge
| 50K | 100K | 150K | |
|---|---|---|---|
| Profit Target | $2,500 | $5,000 | $8,000 |
| Maximum Loss Limit Based on EOD Balance | $1,500 | $2,500 | $4,000 |
| Daily Loss Limit | None | None | None |
| Activation Fee | None | None | None |
| Max Positions (Challenge) | 3 Minis, 30 Micros | 5 Minis, 50 Micros | 8 Minis, 80 Micros |
| Max Positions (FundedNext Account) | 3 Minis, 30 Micros | 5 Minis, 50 Micros | 8 Minis, 80 Micros |
| Consistency Rule (Challenge Account Only) | 40% | 40% | 40% |
| Add-On Fee (90% Performance Reward ) | $14.99 | $24.99 | $34.99 |
| Reset Fee | $77.99 | $144.99 | $278.99 |
The Flex account is FundedNext Futures’ competitive model that has several beneficial perks, including an EOD trailing drawdown and no buffer rules. It also includes an add-on service that increases the profit reward split to 90% instead of 80%.
FundedNext Futures Evaluation and Funded Phase
The futures prop firm requires all traders to complete its evaluation by hitting the profit target before they can receive funding. Below are the rules to note among the three different accounts during this stage.
Consistency Rating
The Legacy, the Bolt, and Flex Challenges follow the 40% consistency rules during the evaluation phase. This means your profit for a single day should not exceed 40% of your total gains. Traders need to offset winning days that exceed the consistency rate with more gains. While this is not what Rapid Challenge takers will be working with, it will be a payout requirement when they pass.
For example, your total gains are $4,000, but a winning day that reaches $2,000 or comprises 50% of your total profit will go beyond the required consistency rate. You need to increase your total profits to $5,000, making $2,000 40% of your total gains.
Benchmark Days
A benchmark day is another term for a winning day, in which you are required to achieve a minimum profit. This is a requirement for payouts from the Legacy and Flex accounts. Note that this is not a requirement for the Rapid and Bolt accounts during the funded phase. Below are the minimum profits you need to make each day for the following account sizes:
Legacy:
- 25K-$100
- 50K/100K-$200
Flex:
- 50K-$200
- 100K-$200
- 150K-$250
For those taking the Legacy, Rapid, Flex, and Bolt challenges, you do not need to achieve a minimum number of benchmark days. Removing this rule allows smart traders to pass the challenge within the limitations of the consistency rating.
Note that if your gain for a day is below the benchmark minimum, it is still counted towards the consistency rating for Rapid and Bolt accounts. A small amount helps you recover from large losses or wins.
Drawdown Rule
All challenge and funded accounts follow the maximum end-of-day drawdown policy. This is a policy that records your unrealised profits and losses at the end of the day rather than in real time. It is a flexible policy that lets you recover from losses that can hit your account’s drawdown.
It should also be noted that the maximum loss limit (MLL) EOD drawdown uses a trailing and static feature. When you start, the drawdown starts from the initial balance minus the MLL amount. For the 25k of a Rapid account, for example, the drawdown balance is $24,000 ($25,000 – $1,000) when you start the funded phase. The drawdown balance increases as you make gains until it reaches the initial balance, which is $25,000 for the 25K account.
FundedNext Futures has one of the trader-friendly policies with its trailing MLL drawdown. You start with an EOD drawdown that is highly lenient from a losing position. Once the MLL trails to the initial balance, you enjoy a static drawdown that lets you be more risky with your trades to achieve higher gains.
News Trading
There are no restrictions on trading the news or opening positions during scheduled economic releases. This allows you to take advantage of the one day to pass by exploiting the volatility of the news drivers. Keep in mind that the risk is incredibly high with a volatile market.
Algorithm Trading
Bot or automated trading systems are allowed for all FundedNext Futures accounts, including Expert Advisors (EAs). These systems are designed to follow a trading strategy while eliminating bias at all entries and exits.
It should be noted that the systems should not exploit platform vulnerabilities through prohibited trading practices. This includes high-frequency trading that executes trades in less than a second. It’s used to take advantage of price discrepancies in the market.
Account Reset
| Model | Challenge Price | Reset Price |
|---|---|---|
| Flex 50K | $133.99 | $77.99 |
| Flex 100K | $249.99 | $144.99 |
| Flex 150K | $483.99 | $278.99 |
| Rapid 25K | $99.99 | $91.99 |
| Rapid 50K | $199.99 | $183.99 |
| Rapid 100K | $279.99 | $257.99 |
| Legacy 25K | $79.99 | $73.99 |
| Legacy 50K | $149.99 | $137.99 |
| Legacy 100K | $249.99 | $229.99 |
| Bolt 50K | $99.99 | $91.99 |
You have the option to reset the challenge when you hit the drawdown or want a fresh new start at any point in the evaluations. It should be noted that the current reset price is slightly cheaper than the price of each evaluation. In fact, the price is much lower than the challenge’s discounted price. This gives the option more value by letting you restart your evaluation without waiting for a discount. With that said, PipBack still recommends taking advantage of the better discounts offered by FundedNext Futures. Note that higher discounts are less common here than in other firms.
Scalping
FundedNext Futures allows scalping, a trading strategy to tap into the small price movement of a futures market. However, microscalping is highly limited on the platform. The practice involves positions that are closed within 10 seconds.
Note that microscalping is still allowed for 40% of your total trades. Exceeding the number of allowed microscalped trades will not breach your account. However, profit generated from positions that are closed within 10 seconds is deducted from your account.
Maximum Contracts
There is a limit to how many contracts you can control per account size during the challenge and funded phase. The 25K Legacy accounts, for example, can only trade two minis during the challenge phase and 3 minis when you get funded. All futures prop firms set a contract limit to prevent traders from using up their entire initial balance on the first day.
What happens if you are trading more than the permitted limit? Doing so will not breach your account. However, profits made from the exceeded number of contracts are deducted from your account. Note that any losses made from these contracts are not reversed.
In regard to trading minis and micros, FundedNext Future allows you to trade either of the contracts for the same futures asset. If you are targeting the S&P 500 futures, for example, you can have open positions for both ES and MES contracts.
Buffer Rule
To qualify for a payout request among Bolt accounts, you need to fulfil the buffer amount. The buffer is the max loss amount plus $100. If you purchased the 100K Legacy account, for example, your buffer amount is $3,100. Your balance must be $103,100 before you can request a payout. Keep in mind that Legacy and Rapid account holders are not required to follow the buffer policy.
Bolt Funded Maximum Withdrawals
If you are considering the Bolt Challenge, be wary that this is a “disposable” account. It will close and no longer be available to use after completing five payout requests.
The Bolt account is designed to be the fastest and most affordable futures prop firm model. It has no minimum benchmark days or consistency rules to follow. Payouts require only a buffer amount in addition to the initial balance. FundedNext Futures also took the buffer amount into consideration when designing this model by allowing you to withdraw it upon your fifth payout request.
Who Are the Accounts For?
With a good grasp of the rules, profit targets, trading policy, and drawdown limits, the question comes down to who each of the accounts is for. Below are PipBack’s insights for the Legacy, Rapid, and Bolt accounts.
Legacy Account
The Legacy accounts are for those willing to go through the challenge with the consistency rule instead of dealing with it during the funded phase. Having to limit your profits just to meet the consistency rating requirement can be inconvenient for many traders.
With only the benchmark days required, traders can increase the risk of their positions for higher payouts. News traders and scalpers can fully utilize the Legacy accounts, since large gains will not move you farther away from the consistency rule.
The compromise to a lenient requirement on winning days is speed. If you are consistent with your trades, the fastest you can request a payout is 5 days. The payout frequency will never be lower than five days, no matter how many gains you make per day.
Rapid Account
True to its name, the Rapid challenge and its funded account are all about speed. You can clear the evaluation phase on the first day upon hitting the profit target. Even when you are in the funded phase, your payout request is once every 3 days if you are consistent with your winning trades and can manage your daily profit. This is much faster than with a minimum of five benchmark days.
Day traders and the use of smart bot trading software are suitable for the Rapid account. The payout requirement encourages consistent profit over several days rather than a single large winning day.
What the consistency rating requirement discourages is high-risk trades with high payouts. High winning or losing days move you further away from the consistency rate that satisfies FundedNext Futures’ payout requirements.
Bolt Account
Despite the disposable aspect of the Bolt account, it has the most lenient payout requirement among the three other FundedNext Futures options. You only need to make gains that fulfil the buffer amount. Everything on top of it is eligible for withdrawal. There is even the option to withdraw the buffer on the final payout.
Because there are no consistency requirements, it is one of the best futures prop firm options for high-risk trades. You do not have to work on making more gains after large wins or losses. There are also no constraints on the payout frequency due to the benchmark days. Using a smart trading setup with efficient risk mitigation, it is possible to complete all five payout requests in a single trading session.
The significant drawback of the account is its disposable nature, with only 5 payouts in total. There is pressure to get the highest possible payout cap for each request. In addition, you also need to clear the evaluation with the consistency rule in place.
Flex Account
The Flex Challenge is not the cheapest plan on FundedNext Futures, that title goes to the Bolt Challenge. Instead, it has a flexible payout requirement without a limited number of payouts like the Bolt Account. You only need to meet the minimum 5 benchmark days for the payout requirement. There is no consistency rule or buffer amount to work on. In addition, this is the only plan that lets you enjoy a 90% profit split for an added cost.
The drawback of the flexible funding phase is a hard evaluation phase that includes a consistency rule of 40%. It takes a minimum of 3 days to pass the evaluation due to the consistency requirement.
If you do not mind a lengthy evaluation phase to enjoy a hassle-free funded phase, the Flex Account is the best option for you. With no limits on payouts and the option of a 90% profit split, the Flex plan offers value for long-term traders.
Final Word
FundedNext Futures’ Legacy and Rapid challenge are standard futures prop firm models that suit most traders, with varying risk tolerances and trading preferences. Its trading conditions and payout requirements accommodate news trading, scalping, algorithmic trading, and day trading. One of the standout features of the firm is its Bolt account, with its highly lenient payout requirements in exchange for its limited 5 payouts. There is also the Flex account that features an add-on to upgrade the profit split to 90%.
FAQ
How do I choose a FundedNext Futures account?
Take into account the payout requirements during the funded phase. The consistency rating and benchmark day requirement comes with varying risks. You can also use the evaluation conditions as your basis to pick challenges that fit your risk tolerance.
Can I hedge positions with minis and micros of the same asset?
Hedging can breach your FundedNext Futures account, no matter the method used. This includes holding a long position in a mini contract and a short position in a micro contract in correlated markets. You also cannot hold hedging positions across two or more FundedNext Futures accounts.</p>
Does resetting my Bolt account restore my payout limit?
The reset option is only for the challenge phase across all accounts. There is no option available to increase the number of payout requests for the Bolt account.