FundedNext Monthly Competitions | April 2024
FundedNext Competitions
FundedNext is a Prop Firms platform. They organize free FundedNext trading competitions every month with a prize pool of over $30,000 in cash and $2.75 million worth of funded Challenge Accounts. These competitions allow you to explore your trading potential. All registered clients can join the free FundedNext Competition, aim for top rankings, win cash prizes, and earn funded trading accounts.
- In this post, we will provide you details about the Fundednext Competitions
- Platform: FundedNext
- Competition: FundedNext Free Trading Competition
- Reward: $30,000+ Cash & $2.75M worth of Challenge Accounts.
How to Join the FundedNext Competition:
Joining the FundedNext Competition is a straightforward process in 3 steps:
1. Visit the FundedNext website and complete the Signup process
2. Log in to the dashboard, tap on the upcoming competition, and participate. You will receive an email with your MT5 trading account ID and password, which you can use to log into your MetaTrader terminal.
3. After logging in, you will see the trading account automatically credited with USD 100,000, and your trading will be enabled on the competition start date.
A) After the competition live, achieve profit in your account, check your ranking on the dashboard, and follow FundedNext trading rules.
Prize Rewards: $30,000+ Cash & $2.75M worth of funding Challenge Accounts.
Prize Distribution is determined by your ranking position. Please refer to the ranking details below:
Please note that participants ranked from 1st to 20th position will receive both a Funding Account and a cash prize. Rankings from 21st to 100th will receive a funding account only.
- Reming 101-600 traders received a lottery coupon.
Profit Withdrawal Conditions
To qualify for profit withdrawal after receiving the funded challenge account, Traders need to meet specific conditions based on their account type.
For example, you received a 6k Stellar 1 Step Challenge account according to fundednext condition.
1. Achieve a 10% Profit Target to pass the challenge, requiring a $600 profit.
2. Avoid the maximum daily or overall loss limits (5% daily or 10% overall).
Meeting these conditions allows traders to receive a FundedNext Account with an 80% profit split, potentially increasing to 90% based on Trading performance.
After Receiving FundedNext Account
After receiving the FundedNext account, the same rule applies, not including the profit target. You have the decision on how much profit you want to make.
To be eligible to withdraw all profits after the closed first trade and FundedNext profit sharing, including the challenge phase 15%, plus a FundedNext account profit of 95% and the refund challenge account phase fee as well.
FundedNext Trading Rules
a) The drawdown will be calculated based on the balance.
- The maximum daily loss limit is 5% of your account.
- The maximum overall loss limit is 10% of your account.
b) Every $3 per lot trading commission is deducted from your trading account.
- Forex and Commodities trading have a commission, while there's no commission on Indices trading.
c) There are maximum limits for holding trades and open lot sizes.
- Participants can hold a maximum of 5 trading positions at a time.
- The maximum lot size is 5 per Forex pair that you can open.
- The maximum lot size is 3 per indices, commodities, and metals that you can open.
Additional Points to Consider
- Only one account and one IP address per person are permitted.
- Participants must meet a minimum trading requirement of at least 5 trading days.
- News trading is allowed on your account.
- Overnight and over-weekend holding is permitted.
- Trading accounts will be swap-free.
Conclusion
FundedNext offers traders an exciting opportunity to participate in their trading competitions, providing an excellent starting point for learning and earning without risk. However, it's crucial to adhere to the trading rules. Before proceeding, make sure you understand and agree to the terms and conditions provided by FundedNext.
