Funded Trading Plus vs FundedNext

Funded Trading Plus: A Comprehensive Overview

Funded Trading Plus has cemented its reputation in the proprietary trading sector with a stellar 4.9/5 Trustpilot rating, indicative of high levels of trader satisfaction. This prop firm stands out by offering four funding programs where traders can manage up to $2,500,000 in capital, which is a substantial amount of leverage for serious traders looking to scale their operations. With a 90% profit split, traders take home a significant portion of the profits generated. One of the impressive features of Funded Trading Plus is the lack of trading day restrictions, permitting overnight and news trading—flexibilities that are not always granted by other firms. The support provided by the company is marked as excellent, a critical aspect for traders who may need assistance or guidance. Traders have an array of comprehensive trading tools at their disposal, spanning forex, commodities, indices, and cryptocurrencies. The availability of scaling options is the cherry on top, allowing successful traders to progressively increase their trading capital under management. However, the details of cons for Funded Trading Plus have not been provided, which could leave potential users questioning about the potential pitfalls or areas where the firm may lack.

FundedNext: A Tailored Trading Experience

Launched after a significant development period of 2.5 years, FundedNext has arrived with a robust framework designed to support traders’ growth. A Trustpilot rating of 4.7/5 shows they've been well-received by the trading community. Unique to FundedNext is the ''GrowthNext Server,'' a platform allowing traders to grow their accounts to lofty balances of up to $4,000,000—which poses an even greater potential for traders when compared to Funded Trading Plus. Another differentiator is the Unlimited evaluation retries policy and a focus on a balance-based drawdown rather than a rigid threshold, offering traders ample wiggle room for strategy execution. The profit split varies between 15% and 90%, which indicates that newer or less proven traders might start at the lower end of the scale, but there's room for growth. Additionally, FundedNext provides swap-free accounts and does not charge commission on indices, further reducing trading costs. Notably, FundedNext extends its support to traders in terms of mental strength by providing access to trading psychologists, a much-valued resource for performance sustainability. However, the imposition of a minimum trading days requirement and consistency rules—especially for their Express model accounts—could be viewed as restrictions that might not align with all trading styles.

Comparing Rules and Restrictions

Both firms enforce a Maximum Daily Loss and Trailing Drawdown rules, as well as a prohibition on Weekend Holding, mechanisms to preserve capital. Profit targets are set to determine the successfulness of trading strategies—a common practice across prop firms. Additionally, risks associated with Third Party Copy Trading and EA (Expert Advisor) usage are monitored by both firms, demonstrating a cautious approach to automated and mirrored trading systems. FundedNext might appear more restrictive due to additional rules like Maximum and Minimum Trading Days, and a No News Trading policy for certain accounts. These additions might deter traders who thrive on flexibility and capitalize on market-moving events.

On Deposits and Withdrawals

FundedNext offers a wider variety of options for deposits and withdrawals that include Perfect Money and Bank Wire Transfer, in addition to crypto and credit/debit cards, possibly providing greater convenience for international traders. Funded Trading Plus, on the other hand, focuses on Deel—a payroll and compliance platform—and crypto transactions, which could appeal to traders who prioritize these methods or are looking for simplicity.

Account Sizes and Instruments

Funded Trading Plus offers a diverse range of starting account sizes, from $5,000 to $200,000, accommodating traders with varying levels of capital requirement and risk appetite. Meanwhile, FundedNext provides account sizes simply noted in USD, potentially indicating a custom approach to account balances. In terms of tradable instruments, both firms offer a range, with Funded Trading Plus including metals in addition to commodities, forex, indices, and crypto. This may cater to traders who look for diversification in their trading portfolios. Both firms operate accounts denominated in USD, which aligns with the primary currency of the forex market and is globally accepted as the standard for most traders.

Establishment and Industry Standing

Funded Trading Plus has had a presence since November 2021, while FundedNext was incorporated more recently in March 2022. Despite Funded Trading Plus being the older entity, FundedNext's elaborate development period and their innovations, like the proprietary ''GrowthNext Server,'' imply that they've spent considerable time finessing their offerings. In conclusion, both Funded Trading Plus and FundedNext bring distinctive advantages and minor limitations to the table. Traders must weigh the pros and cons, including funding levels, trading freedom, and support tools, against the backdrop of each firm's rules and restrictions to decide which aligns best with their trading strategy and growth aspirations.