With such a large number of prop firms in the arena, traders are often overwhelmed by the choice of which to trade with.
FundedNext has been perceived as one of the top prop firms in the industry. They have three different programs, Stellar, Evaluation and Express. They offer capital of up to $300,000 and the trader will be able to keep up to 80% of the profits he made on his simulated account.
However, according to their reviews, traders have recently been complaining about their trading conditions. If this puts you off working with FundedNext, we have found a few alternatives.
Best FundedNext Alternatives
FTMO
Established in 2015, FTMO was one of the first prop firms on the market. It has since grown to become one of the largest and most reputable firms. Traders like FTMO due to their reliability and legitimacy.
FTMO offers traders up to $200,000 in capital and allows them to keep up to 90% of the profits they earn.
The5ers
Established in 2016, The5ers was another of the first firms in the prop firm market. Their transparent operation and good trading conditions make them a very popular choice amongst traders.
The5ers have three different programs for traders of all trading styles. They offer unlimited time on all their programs and offer traders up to a 100% profit share. These are just a few of the supreme benefits they offer.
True Forex Funds
True Forex Funds was established in Hungary in 2021 but has quickly grown to be a popular choice amongst traders.
Traders have the choice of a 1-phase evaluation or a 2-phase evaluation. They can get funded up to $400k in either. TFF offers up to 80% profit split and allows scaling up to $2.5M.
Working with a Legitimate Prop Firm
All three of the prop firms mentioned above are legitimate and trustworthy. This is definitely something that you need to take note of when choosing a prop firm. There are many prop firms in the industry that are not trustworthy for a multitude of reasons. Below is a list of things to look out for to make sure the prop firm you choose is reliable.
Signs of a Legitimate Prop Firm
Long-Established
One of the best ways to check a prop firm’s reliability is if they have been around for a while. This shows that the firm’s business model is legitimate and they have had a good number of customers over the years.
Proven History
Another good way of checking if a prop firm is legitimate or not is by speaking to current or past customers. There are several ways of doing this, you can find Facebook groups, Reddit or chat rooms dedicated to the prop firm industry. Online Prop Firm’s Facebook Group linked here is an excellent resource to speak to other prop firm traders.
‘About Us’ Section
This may not be the first thing to come to mind when researching a prop firm, but having a look at a firm’s ‘About Us’ section of its website can be beneficial. You’ll want to make sure that there are no spelling mistakes, they are transparent about their team and don’t seem to be hiding anything. Above all, you’ll want to come away with the feeling that you and the firm are on the same page and are working together towards a common goal.
If you need more assistance choosing a prop firm, check out our blog ‘10 Questions to Ask Yourself Before Choosing a Prop Firm’.
Summary- Best Alternatives to FundedNext
As was stated earlier, FundedNext is a good choice for traders to expand their trading career. However, any one of the three prop firms above would be a good alternative if you wanted to try something else.
