When evaluating proprietary trading firms, FTMO and FundedNext are prominent options, each offering unique features tailored to different trader needs. Here’s a comprehensive comparison to assist you in making an informed decision:
1. Evaluation Process
- FTMO:
- Two-Step Evaluation:
- Phase 1 (Challenge): Achieve a 10% profit target within 30 days, adhering to a 5% maximum daily loss and a 10% maximum overall loss.
- Phase 2 (Verification): Achieve a 5% profit target within 60 days, maintaining the same risk parameters.
- Minimum Trading Days: 10 days for each phase.
- Two-Step Evaluation:
- FundedNext:
- Two-Step Evaluation:
- Phase 1: Achieve a 10% profit target within 30 days, with a 5% daily drawdown and a 10% overall drawdown limit.
- Phase 2: Achieve a 5% profit target within 60 days, maintaining consistent risk parameters.
- Minimum Trading Days: 5 days for each phase.
- Express Model: Offers immediate funding without an evaluation phase, subject to specific conditions.
- Two-Step Evaluation:
Key Differences:
- FundedNext requires fewer minimum trading days per phase, allowing for quicker progression.
- FundedNext’s Express Model provides an option for traders seeking immediate funding without undergoing the standard evaluation process.
2. Profit Sharing
- FTMO:
- Starts with an 80% profit split, which can increase to 90% after consistent performance and scaling.
- FundedNext:
- Offers up to a 90% profit split, with a notable 15% profit share during the evaluation phase, providing early earnings for traders.
Key Differences:
- FundedNext provides profit sharing during the evaluation phase, whereas FTMO’s profit split begins after successful evaluation.
- Both Prop Trading firms offer competitive profit splits, with potential increases based on performance.
3. Account Sizes and Scaling
- FTMO:
- Initial funding up to $200,000 per account.
- Scaling plan increases account size by 25% every four months, based on performance, up to a maximum of $2 million.
- FundedNext:
- Initial funding up to $200,000.
- Scaling plan increases account size by 40% every four months, with potential growth up to $4 million.
Key Differences:
- FundedNext offers a more aggressive scaling plan, allowing for faster account growth and a higher maximum funding ceiling.
4. Trading Instruments and Platforms
- FTMO:
- Instruments: Forex, indices, commodities, stocks, cryptocurrencies, and bonds.
- Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, and DXtrade.
- FundedNext:
- Instruments: Forex pairs, commodities, indices, and metals.
- Platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Key Differences:
- FTMO offers a broader range of trading instruments, including stocks and cryptocurrencies, and supports additional trading platforms like cTrader and DXtrade.
5. Trading Rules and Flexibility
- FTMO:
- Allows news trading, holding positions overnight and over weekends.
- Permits various trading styles, including scalping, day trading, swing trading, and the use of Expert Advisors (EAs).
- FundedNext:
- Permits news trading and holding positions overnight and over weekends across most account types.
- Supports multiple trading styles, including scalping, day trading, swing trading, and the use of EAs.
Key Differences:
- Both firms offer significant flexibility in trading styles and rules, accommodating various trader preferences.
6. Pricing and Fees
- FTMO:
- Evaluation fees range from €155 to €1,080, depending on the account size.
- Fees are refundable upon successful completion of the evaluation.
- FundedNext:
- Evaluation fees range from $49 to $1,099, based on the chosen account size and model.
- Offers a 120% refund on the registration fee upon successful completion of the evaluation.
Key Differences:
- FundedNext provides a higher refund percentage on evaluation fees, offering additional financial incentives for successful traders.
7. Reputation and Community Feedback
- FTMO:
- Established in 2015, FTMO has garnered a strong reputation with a Trustpilot rating of 4.8 out of 5, based on over 13,000 reviews.
- FundedNext:
- Launched in 2022, FundedNext has quickly built a positive reputation with a Trustpilot rating of 4.5 out of 5, based on over 18,000 reviews.
Key Differences:
- FTMO has a longer track record and a slightly higher Trustpilot rating, reflecting its established presence in the industry.
Conclusion
Both FTMO and FundedNext offer compelling opportunities for traders seeking funded accounts, each with distinct advantages:
- FTMO: Provides a broad range of trading instruments, multiple platform support, and a well-established reputation, appealing to traders seeking a comprehensive and trusted trading environment.
- FundedNext: Offers flexible evaluation processes, higher profit splits during evaluation, aggressive scaling plans, and competitive pricing, making it attractive for traders aiming for rapid growth and immediate earnings.
Your choice between the two should align with your trading style, instrument preferences, desired growth trajectory, and the importance you place on firm reputation.