FundedNext vs Leveled Up Society

FundedNext Review

FundedNext emerges as a robust player in the prop trading arena. It has had the advantage of a development period lasting 2.5 years, culminating in a trustworthy Trustpilot rating of 4.7/5. This is an indicator of its solid reputation within the trader community. Pros:

• FundedNext shines with its large account balance offering, where traders can aspire to manage up to $4,000,000. This is a significant draw for ambitious traders looking to scale their strategies.
• With unlimited evaluation retries, the firm mitigates the pressure of qualifying, thus allowing traders to pace themselves and learn from any initial mistakes.
• The firm boasts an attractive 15%-90% profit split, which is on the upper end when compared with industry standards.
• Trading flexibility is a clear advantage here. With a high leverage of 1:100 and swap-free accounts, FundedNext offers a favourable environment for different trading styles, amplified by a no commission structure on indices.
• Furthermore, the presence of trading psychologists could offer a unique and valuable resource for traders focused on the psychological aspects of trading.

Cons:

• However, the firm imposes a minimum trading day requirement of 5 days, which could be a hurdle for anyone preferring fewer active days with larger trades.
• No news trading for Express model accounts may deter traders who specialize in fundamental analysis and event-driven strategies.
• The consistency rule applied to Express model accounts could be seen as limiting for traders who seek the freedom to adjust their trading intensity and size.

When it comes to rules, FundedNext includes multiple standard rules like Maximum Daily Loss and Maximum Loss regulations, coupled with unique ones such as no weekend holding, which could be restrictive to some swing traders. The platform offers ample deposit methods, including crypto and bank wire transfers, catering to a global audience. Withdrawal options are similarly diverse, allowing for more accessible funds liquidity.

Leveled Up Society Review

Leveled Up Society stakes its claim in the competitive field of prop trading firms with a presentation of generous offerings and a more recent establishment date in April 2021. Pros:

• With an account balance capability reaching $1,000,000 and boundless evaluation retries, Leveled Up Society entices traders who are seeking significant trading capacity without the fear of being limited by an evaluation quota.
• A standout feature is the profit shares of 80% to 90%, which are amongst the highest available, creating a very trader-centric profit model.
• Flexibility in holding positions overnight and during weekends offers a substantial benefit for swing traders and those who adhere to strategies that require such practices.
• Leveled Up Society also boasts account scaling with an enticing leverage ratio of 1:100, similar to FundedNext.
• The spectrum of tradeable instruments is comprehensive, including not only forex and commodities but also crypto and metals, providing traders with a wealth of options.

Cons:

• However, the firm enforces a trailing drawdown for single-step accounts, which could potentially limit aggressive trading strategies that require more substantial drawdowns.
• The prohibition of using Martingale tactics could be a deal-breaker for those who employ this strategy as part of their risk management or trade optimization.
• Similar to FundedNext, there are restrictions on news-based trading which could be a disadvantage to traders specializing in economic events.

Leveled Up Society's rules are typical for the industry with Maximum Daily Loss and No Martingale Allowed being part of their risk management framework. Deposit methods are somewhat limited compared to FundedNext but still include the popular options of credit cards and crypto. Unique to Leveled Up Society is their use of Deel for both deposits and withdrawals, suggesting a streamlined financial transaction system which could be an advantage for simplicity and ease of use.

Conclusion

In conclusion, both FundedNext and Leveled Up Society offer compelling arguments for traders seeking career advancement within prop firms. FundedNext seems to cater to traders valuing psychology support and hefty account sizes, while Leveled Up Society could appeal more to those valuing flexibility in trading hours and a diverse asset selection. In both cases, the high profit shares are extraordinarily attractive, setting a precedent for what retails traders might expect from top-tier prop firms. As with any trading environment, the devil is in the details of the terms and conditions, and traders should weigh these firms' offerings against their individual trading styles and preferences.