25% of the demo account + 15% Demo phase profit? Or 100% of the Demo account to real + 15% Demo phase profit? Sounds a bit confusing? Fundednext has recently introduced the Fundednext Non-Consistency account, but is it really helpful for traders, or is it suitable for your trading style?
Want to know what the Fundednext non-consistency account has to offer? Well, here are some of the new things that Fundednext has just introduced, check out more below.
Fundednext has been a popular and trusted choice among forex traders, or we can even call it one of the best prop trading firms in the ecosystem, one of the main reasons for that is its offering flexibility in terms of forex trading, combined with up to 90% profit share and a scale-up plan up to $4 Million. Well, there are a number of prop firms in the market, but the set of rules offered by FundedNext can be really helpful in terms of trading, as most of them are tailored in such a manner that you won’t be affecting negatively your funded account, until and unless you make wrong trades (your own trading skills).
Difference between Fundednext Consistency and Fundednext Non-Consistency Account
| Consistency Express Model | Non-Consistency Express Model |
|---|---|
| Demo Account: $100,000 for $549 | Demo Account: $100,000 for $699 |
| Real Account after passing: $100,000 | Real Account after passing: $25,000 |
| Real Account given with 100% of Demo Account | Real Account given with 25% of demo account |
| Consistency model is comparatively cheaper (Starts from $99, Refundable Fees) | Fundednext Non-consistency account model is a bit more expensive than the consistency model (small amount of difference) Starts at $119 |
| 10 Minimum Trading Days | 10 Minimum Trading Days |
| Great for Intra Day Traders | Can be great for scalping |
| Unlimited Days to Hit Profit | Unlimited Days to Hit Profit |
| 5% Daily Loss Limit with a 10% Overall limit | 5% Daily Loss Limit & Overall 10% Loss Limit |
| News Trading Not Allowed (5 min before & after) | News Tradings not allowed (5 Min before & After) |
| Maintain consistency rule | No consistency rule |
Consistency Rule
Average lot size per day for the ongoing week should be:
- Minimum- More than half of last week’s average lot size.
- Maximum- Should not be more than double last week’s average lot size.
Average number of lots per day for the ongoing week should be:
- Minimum- More than half of the number of trades taken last week
- Maximum- Less than double the number of trades taken last week
As a suggestion, if you want to keep that in mind, I would recommend getting along with the deviation of 2.0, as shown below.
The Fundednext express model had a consistency rule, which was okay but had some issues for some of the traders as per their trading style, as the non-consistency express account was focused on consistency and didn’t match with their trading style.
In order to focus on the consistency aspect of trading, fundednext focused on being consistent every week. A good way to manage your risk is to keep your weekly average +/- 200% or have a deviation of 2.0. The three main indicators we use to measure success are the number of trading days, trades, and lot size. Each week these three indicators were taken into consideration while keeping an eye over the maximum (total x2) and minimum (total/2).
Profit Share in both of these models is 60-40 split. The 1st withdrawal will be 60%, the 2nd will be 70%, the 3rd month 80%, and the 90% profit payout from the 4th withdrawal onwards. All this combined with an upscale plan of up to $4 million is really a good deal as a trader, of course, it will be taking some time, but remember trading is a business and is more of a long-term game.
Fundednext Express Model Non-Consistency
The Fundednext introduces non-consistency express model which does not have the consistency rule but does not give access to 100% of the real funded account, i.e. where fundednext traders had 100% of access to real funds in the consistency account whereas the non-consistency account gives access to 25% real funds in the account. Well, as one of the best prop firms, of course, they have to set a certain set of rules in order to save their funds as well, the 25% of the funds in the trading account seems like a fair deal for not having a consistency rule.
| Consistency Express Account | Non-Consistency Express Model Accounts | |
| Maximum Account | $100,000 | $100,000 |
| Real Funds Access | 100% of the real funds | 25% of the real funds |
If you sign up for the consistency account, you get a $100,000 demo account and when you pass the phase, you’ll be getting 100% of the funds in the real account, whereas in the non-consistency account, you’ll be getting $25000 in the real account after clearing the phase, well, this initiative/rule is made in order to save the firms money. Of course, many of the traders are still not so happy with the rule, but the choice of your model completely depends upon the trading style that suites you, well, Funded next has got a whole bunch of models and accounts, so I guess that won’t be a problem for a lot of traders(the real ones).
My thoughts on Fundednext Non-Consistency Express Model
As a trader myself, I’m currently going through the express model, and things have been pretty great. Now, if we consider, whether you should be choosing the non-consistency express model or not? That’s completely based on the type of trader you are and whether $25,000 are more than enough or not in terms of setting things as per your trading style.
I have opted for the Fundednext consistency model as it suits my trading style, and I’m much more comfortable with having 100% of the real fund, as leverage, margins, and lot sizes are an upside as per my trading style. Even though, as a trader, getting a 25% profit target is a challenge in itself, since there is no time limit, that’s a great thing in my trading style. Of course, trading is a business and is a long-term game, the rules and regulations will be helping you out.
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