FundedNext is one of the largest prop firms in the world, with several forex and CFD evaluation models plus a separate futures program. Its strengths are practical: MetaTrader support, EAs allowed, fast payouts backed by a guarantee, and a long public payout record. The downside is complexity: four main models, paid add-ons and rules that change several times a year.
Who is behind FundedNext?
FundedNext was founded in March 2022 and is based in the United Arab Emirates. The contracting company, FundedNext Ltd, is registered in the Comoros Islands; the website is operated from Hong Kong, the trademark belongs to GrowthNext F.Z.E. in Ajman, and payment operations run through companies in Cyprus. All trading happens in a demo environment with virtual capital, and FundedNext is not a broker. Prop firms aren’t authorised by the FSCA.
The challenge models
Stellar 2-Step is the most popular and most forgiving: an 8% Phase 1 target and 5% Phase 2 target, a 5% daily loss and a 10% maximum loss, with no time limit.
Stellar 1-Step is faster but tighter: a single 10% target, at least 2 trading days, a 3% daily loss limit, and the account can’t fall below 94% of its starting balance.
Stellar Lite is the budget option with 8% and 4% targets, but a higher $7-per-lot commission. Stellar Instant skips the evaluation in exchange for a lower starting split, smaller sizes and a trailing maximum loss.
On the three evaluation models the maximum loss is measured from your starting balance, not your highest balance, which is more predictable than a trailing drawdown.
Pricing
At the time of writing, a $100K Stellar 2-Step costs $549.99 USD, and the 1-Step is priced the same at every size. Entry points start around $32.99 for Stellar Lite and $59.99 for Stellar 2-Step. cTrader and Match-Trader add a one-time $25 fee (MT4 and MT5 are free), swap-free accounts add 10%, and upgrades such as the lifetime 95% split are sold separately. The “refundable fee” becomes non-refundable once you open a trade and is returned through your payouts.
Profit split and rewards
The base split is 80%. The FundedNext Pro scaling program can unlock 90% and grow accounts 25% per qualifying cycle up to $4M; the first scale-up requires 4 payouts plus other conditions. FundedNext also pays a 15% reward based on the challenge profit target, a feature most firms don’t offer. Terms for this reward changed for accounts bought on or after January 12, 2026, so check your plan.
Rules that trip people up
News: allowed on every model, but on funded accounts only 40% of profits from trades within 5 minutes of a listed high-impact event count toward your payout, while losses count in full.
EAs: allowed on MT4 and MT5 only; cTrader and Match-Trader are manual. FundedNext’s own help articles contradict each other on the 1-Step, so confirm with support before running an EA.
Banned strategies: high-frequency trading, arbitrage, grid trading and account rolling. Hedging is allowed only within one account. Gold leverage on the 2-Step was cut to 1:10 in January 2026.
Payouts
FundedNext promises payouts within 24 hours or an extra $1,000, and reports more than $300 million paid to traders in over 170 countries. The 1-Step pays every 5 business days; on the 2-Step the first payout comes after 21 days, then every 14 days.
Platforms
FundedNext offers MT4, MT5, cTrader and Match-Trader. $100K and $200K accounts can’t be bought on cTrader or Match-Trader, so traders wanting larger sizes should use MetaTrader. The platform locks after your first trade.
Trading FundedNext from South Africa
Can South Africans use FundedNext?
Yes. FundedNext only refuses residents of North Korea, Myanmar, Belarus, Iran and Russia, so South Africans can join every model and choose MT4, MT5, cTrader or Match-Trader.
Paying the fee in rand
At an illustrative R18 per US dollar, the $100K Stellar 2-Step at $549.99 costs about R9,900. Check today’s exchange rate and your card’s foreign transaction fee before you pay. Paying for an offshore service by card counts toward your annual offshore allowance under South African exchange control, which covers most traders’ challenge fees comfortably.
Getting paid in South Africa
Payouts are in US dollars through the methods shown in your dashboard, including crypto. FundedNext’s 24-hour processing guarantee applies to South African traders too.
Best trading hours in SAST
The London session opens at 09:00 or 10:00 SAST depending on UK daylight saving time, and the London–New York overlap runs through mid-afternoon, which suits South African traders who trade before or after work.
Tax on FundedNext payouts
SARS generally treats prop firm payouts as income, not capital gains, and you must declare them even though no tax is deducted. Because the income isn’t a salary, you’ll usually need to register as a provisional taxpayer and submit IRP6 returns, with payments due by the end of August and the end of February. Convert each payout to rand at the rate on the day you receive it, keep records of fees you’ve paid, and speak to a tax practitioner. This isn’t tax advice.
Regulation
FundedNext isn’t authorised by the FSCA. The FSCA supervises brokers and financial services providers, while prop firms that sell evaluations on simulated accounts generally fall outside its licensing. That’s legal for South Africans to use, but it means no FSCA complaint route or ombud cover if something goes wrong, so a firm’s track record matters.
Reputation
FundedNext displays a 4.5 out of 5 Trustpilot rating from more than 79,000 reviews and publishes monthly payout reports. The most common complaints concern rule changes rather than refused payouts.
Our hands-on test
[EDITOR: Replace with your team’s real results before publishing: model and size, price in ZAR, platform, pass/fail and days, payout timing and method, support, screenshots.]
Who FundedNext suits
FundedNext fits MetaTrader users, EA traders and anyone who values fast payouts and a long track record. The 2-Step’s static 10% maximum loss suits swing traders. It’s weaker for news traders and for beginners who may find the number of models overwhelming.
FundedNext FAQ
Is FundedNext legit?
Yes. FundedNext was founded in 2022, is based in the UAE and reports more than $300 million paid to traders. Like all prop firms, it uses simulated accounts and isn’t regulated as a broker.
What is the FundedNext profit split?
The base split is 80%. You can reach 90% through the FundedNext Pro scaling program, or 95% with a paid add-on.
Which FundedNext challenge is easiest to pass?
The Stellar 2-Step gives the most room, with a 5% daily loss and 10% maximum loss. The 1-Step allows only 3% daily and 6% overall.
How fast does FundedNext pay out?
FundedNext promises payouts within 24 hours or it pays an extra $1,000. The 1-Step can request every 5 business days; the 2-Step waits 21 days, then every 14 days.
Can South Africans use FundedNext?
Yes. FundedNext only refuses residents of North Korea, Myanmar, Belarus, Iran and Russia, so South Africans can join every model and choose MT4, MT5, cTrader or Match-Trader.
How are FundedNext payouts taxed in South Africa?
SARS generally treats prop firm payouts as income that must be declared, usually through provisional tax (IRP6). Speak to a tax practitioner about your situation.