TL;DR: You get a $50,000 simulated account with a $3,000 profit target and a $2,000 End-of-Day (EOD) trailing Maximum Loss Limit. There are no daily loss limits, and news trading, overnight holding, and weekend holding are all allowed. Keep an eye on the 40% consistency rule and the lot size limits per asset class.
What are the account sizes and profit targets?
Account Size: $50,000
Profit Target: $3,000 (6% of $50,000)
Note that your effective profit target may vary depending on how you manage the 40% consistency rule.
How does the loss limit work?
Maximum Loss Limit (MLL)
The total trailing loss limit is $2,000.
EOD Trailing
The loss limit uses an End-of-Day (EOD) trailing model, meaning your maximum loss threshold is calculated at the end of the trading day.
Daily Loss Limit
There is no daily loss limit, which gives you more flexibility in trade management.
Are there any restrictions on trading styles or timing?
News Trading
Fully allowed. You can trade during high-impact news events.
Overnight & Weekend Holding
Fully allowed. You can keep your positions open overnight and through the weekends.
Consistency Rule
There is a 40% consistency rule. This means a single trading day's profits cannot exceed 40% of your total target.
What are the lot size limits?
You can trade Forex, Commodities, and Indices, but Crypto trading is not allowed. The maximum lot size you can have open at any one time depends on the asset:
Asset Class | Max Open Lot Size |
Forex | Max 5 lots at a time |
Commodities & Indices | Max 2 lots at a time |
Crypto | Not Available |
What are the commission fees?
Commissions are straightforward, and here is the breakdown:
Forex & Commodities (Oil): $5 per lot
Commodities (Metals): 0.0016% of the opening price
What is the leverage?
FundedNext offers competitive leverage ratios for the Challenge Phase. Please refer to the breakdown below for details about the leverage options:
Forex: 1:30
Indices & Commodities: 1:25
Do I need to complete my KYC?
Yes, you have to complete the KYC after meeting all the requirements in your Challenge Phase. The KYC process is exactly the same as our other standard CFD models.