FTMO and FundedNext are two of the largest forex prop firms, and their flagship 2-Step challenges look similar on paper: both use a 5% daily loss and a 10% static maximum loss with no time limit. The differences are in price, profit split, payout speed and the extras each firm adds.
Quick verdict
Choose FTMO for the most established brand, stable rules and full EA freedom. Choose FundedNext for a lower Phase 1 target, a cheaper entry, a reward on challenge profits and a 24-hour payout guarantee.
Side-by-side comparison
| FTMO (2-Step) | FundedNext (Stellar 2-Step) | |
|---|---|---|
| Founded | 2015, Prague | 2022, UAE |
| Profit targets | 10% then 5% | 8% then 5% |
| Daily loss | 5% | 5% |
| Maximum loss | 10%, static | 10%, static |
| Time limit | None | None |
| $100K price | €540 list (often discounted) | $549.99 USD |
| Cheapest entry | €89 | $59.99 USD |
| Fee refund | With first reward | Returned through payouts |
| Profit split | 80%, up to 90% via scaling | 80%, 90% via scaling, 95% add-on |
| Challenge reward | None | 15% of challenge profit target |
| First payout | 14 days after first funded trade | 21 days, then every 14 |
| Payout speed | Usually fast | 24-hour guarantee or $1,000 |
| EAs | Allowed | Allowed on MT4/MT5 |
| News on funded | Check account type | Profits within 5 min of high-impact news count at 40% |
| Platforms | MetaTrader, cTrader, DXtrade | MT4, MT5, cTrader, Match-Trader |
Rules
The loss rules are effectively the same, and both use a static maximum loss, the most forgiving kind. FundedNext’s 8% Phase 1 target is easier than FTMO’s 10%, which matters if you trade slowly. Both firms also offer one-step options: FTMO’s 1-Step (3% daily, 10% trailing, Best Day Rule) and FundedNext’s Stellar 1-Step (3% daily, 6% maximum).
Costs
At $100,000, the prices are close, but FTMO charges in euros, so South Africans pay a variable rand amount after conversion. FundedNext is cheaper at the smallest sizes and adds a 15% reward on your challenge profit target.
Payouts
FTMO lets you request your first reward 14 days after your first funded trade, then bi-weekly or on demand. FundedNext’s 2-Step waits 21 days for the first payout, then pays every 14 days, but backs processing with a 24-hour guarantee. FundedNext’s news rule on funded accounts is a real cost for news traders.
What it costs in rand
At an illustrative rate of R18 per US dollar (check today’s rate and your card’s foreign transaction fee):
| Firm | Cheapest entry | Approx. in rand |
|---|---|---|
| FTMO | €89 | about R1,800 (EUR) |
| FundedNext | $59.99 | about R1,080 |
Card payments to offshore firms count toward your single discretionary allowance, and payouts arrive in foreign currency that you’ll convert to rand. See how to withdraw prop firm profits in South Africa.
Trading from South Africa
Forex traders get the most liquidity during the London–New York overlap, roughly 14:00–18:00 SAST in the Northern summer and 15:00–19:00 in winter. US index futures are busiest after the New York cash open at 15:30 or 16:30 SAST. Payouts are income for SARS, usually declared through provisional tax: see prop firm tax in South Africa.
Which should you choose?
If you want the most proven firm and trade with EAs or around news, FTMO is the safer choice. If price, a lower first target and payout guarantees matter more, FundedNext offers better value.
Visit FTMO Read our FTMO review
Visit FundedNext Read our FundedNext review
FTMO vs FundedNext FAQ
Is FTMO or FundedNext easier to pass?
FundedNext’s Stellar 2-Step has a lower 8% Phase 1 target; FTMO needs 10%. The loss limits are the same.
Which is cheaper, FTMO or FundedNext?
FundedNext is cheaper at small sizes. At $100K the prices are similar, but FTMO charges in euros.
Which pays out faster?
FundedNext guarantees processing within 24 hours; FTMO payouts are usually fast too. FTMO allows the first reward sooner (14 days vs 21).
Can South Africans use both?
Yes. Both firms accept South African residents.
Can South Africans use both FTMO and FundedNext?
Yes. Both firms accept South African residents; confirm eligibility at checkout.
How much does it cost in rand?
Entry prices are in foreign currency; at an illustrative R18 per US dollar, FTMO starts at about R1,800 (EUR) and FundedNext at about R1,080.