FundedNext Monthly Competitions | February 2024
Step into the realm of the FundedNext Monthly Competitions this February 2024, presented by one of the top proprietary trading firms. Each month, FundedNext rolls out a thrilling competition, inviting traders to vie for a share of more than $30,000 in cash prizes and the opportunity to manage $2.75 million in funded trading accounts. These contests are meticulously crafted to draw out the best in trading prowess, offering both experienced traders and novices a stage to display their trading acumen and strategies.
| Platform: | FundedNext |
| Event Name: | Monthly Free Trading Contest by FundedNext |
| Awards: | Over $30,000 in Cash & Access to $2.75M in Challenge Accounts |
Entering the FundedNext Arena:
Joining the competitive fray of FundedNext is seamless and easy. Just follow these steps:
- Proceed to the FundedNext website to sign up.
- Access your dashboard, pinpoint the forthcoming contest, and enlist.
- After signing up, your account will be furnished with $100,000 USD for trading once the contest begins.
Once the contest is underway, aim for profitability, keep an eye on your leaderboard status, and abide by the trading regulations set by FundedNext.
Awards include over $30,000 in cash and funding in Challenge Accounts worth $2.75 million. Prizes are allocated based on your leaderboard standings, with the top achievers being rewarded with both cash and funded accounts.
Criteria for Profit Withdrawals
Earning the right to withdraw profits after acquiring a funded account entails meeting certain benchmarks specific to the account type. For example, with a 6k Stellar 1 Step Challenge account:
- Hit a 10% profit target, equating to a $600 gain, to pass the challenge.
- Stay within the maximum loss limits, both daily (5%) and overall (10%).
Upon satisfying these criteria, traders are granted a FundedNext Account, which includes an 80% profit share, with the possibility of increasing to 90% contingent on trading outcomes.
Subsequent to account acquisition, traders can set their profit objectives. To withdraw all profits, including those from profit sharing and challenge phase fees, specific conditions must be met.
Guidelines for FundedNext Competitors
Competitors in FundedNext events are required to comply with several rules:
a) Drawdown Management:
- Adhere to a maximum daily loss limit of 5% of your account balance.
- Maintain an overall loss limit not exceeding 10% of your account balance.
b) Understanding Commissions:
- Expect a $3 per lot trading commission to be subtracted from your account.
- While Forex and Commodities trades incur commissions, Indices trades do not.
c) Trading Restrictions:
- Limit yourself to a maximum of five open trading positions at any one time.
- Be aware that maximum lot sizes will vary depending on the asset class.
Further Considerations
Additional aspects to bear in mind include:
- Strictly one account and one IP address per contestant.
- A minimum trading activity of 5 days is required.
- Trading based on news events is allowed.
- Positions can be held overnight and over the weekend.
- Accounts are swap-free.
Final Thoughts
FundedNext presents an invigorating challenge for traders through its monthly competitions, providing both a learning curve and a chance at substantial earnings. However, it is crucial to fully grasp and adhere to the trading guidelines and conditions offered by FundedNext before diving in. Embark on your trading adventure with us today and elevate your trading career to unprecedented levels!
