Next Step Funded – Firm Review
- Exceptional capital gain growth potential
- Fast payouts with global accessibility
- Swift evaluations from industry experts
- Multiple account size options available
- Personalized guidance for trading success
Company Overview
Next Step Funded is a modern proprietary trading firm that provides traders with the opportunity to access significant capital without risking their own money. Founded with the mission to empower traders of all experience levels, Next Step Funded offers a streamlined pathway to become a funded trader through their evaluation process. Their two-phase challenge program is designed to identify disciplined traders who can consistently generate profits while managing risk effectively.
What sets Next Step Funded apart is their transparent approach to trader evaluation, competitive profit splits, and diverse account size options ranging from $10,000 to $200,000. They support various trading instruments across forex, indices, commodities, and cryptocurrencies. With a user-friendly dashboard, detailed performance analytics, and responsive customer support, Next Step Funded creates an environment where traders can focus on developing their skills and generating consistent returns.
Key Features at a Glance
Challenge Fees
- $49 for $10,000 Account – Budget-friendly entry point for new traders
- $99 for $25,000 Account – Popular mid-tier option with balanced capital allocation
- $199 for $50,000 Account – Ideal for experienced traders seeking higher capital
- $299 for $100,000 Account – Premium option for professional-level trading
- $499 for $200,000 Account – Maximum capital option for expert traders
Account Types
- Standard Challenge: 8% profit target, 5% daily drawdown limit, 10% maximum drawdown
- Professional Challenge: 10% profit target, 5% daily drawdown limit, 10% maximum drawdown with more demanding criteria
- Funded Account: Live trading account with real capital after passing both challenge phases
Profit Split Options
- 80/20 Standard Split: Traders keep 80% of profits in funded accounts
- 90/10 Elite Split: Available for traders who consistently meet performance targets
- Scaling Plan: Opportunity to increase profit split based on long-term performance
Account Sizes
- $10,000: Entry-level account suitable for beginners and those testing strategies
- $25,000: Mid-level account for intermediate traders with some experience
- $50,000: Advanced account for experienced traders seeking higher profit potential
- $100,000: Professional account for full-time traders with established strategies
- $200,000: Expert account for high-performance traders with proven track records
Trading Platforms
- MetaTrader 4 (MT4): Industry-standard platform with robust charting and analysis tools
- MetaTrader 5 (MT5): Advanced platform with additional timeframes and analytical objects
- TradingView: Web-based platform with social features and advanced charting capabilities
Financial Markets
- Forex: Major, minor, and exotic currency pairs with competitive spreads
- Indices: Global stock indices including US30, NASDAQ, S&P500, and international markets
- Commodities: Gold, silver, oil, natural gas, and other key resource markets
- Cryptocurrencies: Major digital currencies including Bitcoin, Ethereum, and other altcoins
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | 8% | 5% |
| Daily Drawdown | 5% | 5% |
| Maximum Drawdown | 10% | 10% |
| Minimum Trading Days | 5 days | 5 days |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | 10% | 5% |
| Daily Drawdown | 5% | 5% |
| Maximum Drawdown | 10% | 10% |
| Minimum Trading Days | 7 days | 7 days |
Challenge Specifications
- Max Allocation: Up to $200,000 in trading capital available based on account size
- Scaling: Opportunity to scale accounts up to 2x the initial capital after consistent performance
- Trading Competitions: Monthly contests with additional prizes for top-performing traders
- Free Trial: Limited-time demo accounts available to experience the platform before purchasing
- Profit Targets: Ranges from 5-10% depending on challenge type and phase
- Drawdown Structure:
- Daily: 5% maximum daily drawdown limit from starting balance
- Maximum: 10% maximum overall drawdown limit from starting balance
- Trailing: Not implemented – drawdowns calculated from initial account balance
Trading Rules and Requirements
- No economic news trading during major releases (NFP, FOMC, etc.)
- No overnight holding of positions for certain volatile instruments
- Maximum lot size limited to 2% of account equity per trade
- No use of prohibited EAs, martingale strategies, or grid trading
- Minimum 5-7 trading days required during each phase depending on challenge type
- No trading during low-liquidity periods (certain holidays and weekends)
- No manipulative trading practices such as hedging on the same instrument
Company Information
- Founded in 2020 with headquarters in London, UK
- Regulated prop trading firm operating under financial services guidelines
- Trader support available 24/5 via live chat, email, and ticket system
- Active community forums and educational resources for traders
- Regular webinars and trading workshops for account holders
Payout Methods
- Bank Transfer (3-5 business days)
- PayPal (1-2 business days)
- Wise/TransferWise (1-3 business days)
- Cryptocurrency (Bitcoin/Ethereum) (Same day processing)
- Skrill (1-2 business days)
Trading Commissions
- Forex: $5 per standard lot round turn
- Indices: $5-7 per standard lot depending on the index
- Commodities: $7 per standard lot for gold and silver, $10 for oil
- Cryptocurrencies: 0.05% of trade value
- No additional platform fees or hidden charges
IP Rules
- Maximum of 3 IP addresses allowed per account
- VPN usage permitted but must be registered with support
- Geographic location changes require prior notification
- Multiple accounts from same IP address must be registered and approved
- IP changes limited to 3 per month without additional verification
Video Review
Next Step Funded Review
Comprehensive review of Next Step Funded trading services
Unique Features
Trading Analytics
- Advanced performance metrics dashboard
- Trade journal integration for tracking strategy effectiveness
- Risk management tools with real-time feedback
- Customizable reporting features for trade analysis
Educational Resources
- Weekly market analysis webinars from professional traders
- Strategy development workshops for various market conditions
- One-on-one coaching sessions for funded traders
- Extensive video library covering trading techniques and risk management
Why Choose Next Step Funded?
Next Step Funded stands out in the competitive prop trading industry by offering a balance of accessible requirements and professional trading conditions. Their approach focuses on identifying disciplined traders who can maintain consistent profitability without taking excessive risks.
Key advantages include:
- No time limits on challenges, allowing traders to develop their strategies properly
- High profit splits starting at 80% and increasing to 90% for consistent performers
- Transparent rules and requirements with no hidden conditions
- Scaling opportunities that can double a trader’s capital allocation
- Comprehensive educational resources to help traders improve their skills
- Responsive customer support with quick resolution of issues
- Clean, user-friendly dashboard for monitoring performance
Frequently Asked Questions
How long does it take to get funded?
The time to funding varies by trader. Since Next Step Funded places no time limit on challenges, you can pass at your own pace. Most successful traders complete both phases within 1-3 months. After passing the verification phase, funding typically occurs within 24-48 hours.
Can I hold positions over the weekend?
Yes, you can hold positions over the weekend for most instruments. However, certain volatile assets may have weekend holding restrictions. These restrictions are clearly marked in the trading rules section of your dashboard. It’s recommended to reduce position sizes before weekends due to potential gap risk.
What happens if I break a rule?
Rule violations are handled on a case-by-case basis. Minor violations typically result in warnings, while serious infractions such as exceeding maximum drawdown limits will result in account termination. Next Step Funded has a “three strikes” policy for minor violations before account review. Always check with support if you’re unsure about a specific trading activity.
Can I trade news events?
Trading during major economic news events (like NFP, FOMC announcements) is generally restricted. However, you can trade in the periods before and after the actual news release. The restricted period is typically 5 minutes before and 5 minutes after major announcements. A calendar of restricted news events is provided in your trader dashboard.
How often can I withdraw profits?
Profit withdrawals are processed on a monthly basis for funded accounts. The minimum withdrawal amount is $100, and there is no maximum limit. Withdrawal requests must be submitted by the 25th of each month, with payments processed by the 15th of the following month. First-time withdrawals require additional identity verification for security purposes.
