The Free Trial Account at FundedNext is a unique opportunity for participants to experience real trading conditions without financial risks. It's designed for traders to showcase their skills and understand our platform better. Free Trial Accounts follow a 1-step process.
Here's everything you need to know about Free Trial Accounts:
Registration: Each trader in the Free Trial is permitted to register only one account at a time. This account must be unique and associated with a single email and IP address. Once your account is disabled, you may request another, ensuring an opportunity for unlimited free trials while maintaining the integrity of a single, active account policy. After free trial sign-up, users will receive the new account email.
Profit Target: The objective for each trader is to achieve a 5% profit on their initial account balance. This target is set to encourage strategic trading and effective risk management.
Minimum Trading Days Requirement: Traders are required to trade for a minimum of 3 days within the 14-day trial period. This ensures active participation and provides a fair evaluation of trading skills.
Daily Loss Limit: The Free Trial Account has a Daily Loss Limit of 5% of the account balance. This limit refreshes every day after midnight according to the server time.
Overall Loss Limit: The Free Trial Account has an Overall Loss Limit of 10% of the account balance.
Time Limit: Traders will receive 14 calendar days from the date of the first trade to reach the profit target. After this period, the account will be automatically disabled.
Weekend Position Holding: There are no restrictions on holding positions over the weekend.
Reset Option Availability: The Free Trial Account does not offer the option to reset the account.
Account Balance Options: Account balance options range from $6,000 to $200,000, accommodating various levels of trading experience and strategies.
Account Type and Leverage: The Free Trial Accounts are swap accounts with a leverage setting of 1:100 for forex instruments, 1:40 for commodities, and 1:20 for indices. This standard leverage is consistent with many professional trading environments.
Trading Platform: All trading activities are to be conducted on the MT5 platform.
News Trading: The use of news trading is permitted, allowing traders to fully explore various trading methodologies.
Expert Advisors (EAs): Usage of EAs is not permissible in the Free Trial Accounts. Traders using Expert Advisors will face restrictions on opening any new trades.
Maximum Number of Trades: The maximum number of open positions is 30 at a time. If traders try to open a new position after having 30 open trades, they will not be allowed to open any new trades until the existing trades are closed.
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Compliance with these rules is essential for fair and successful participation in the FundedNext Free Trial Accounts. Disregarding any of these rules may lead to disqualification from the trial and affect future participation opportunities.