“Hello Trader,
This is Rahat from FundedNext.
We have found you were trading during the high-impact news, which is not permitted according to our rule.
Account Number: 90008796
Here is the ticket number:
10969443
10958170
Please get in touch with your account manager about this.
Regards,
Rahat
FundedNext Support Team
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As long as we lose money on fundednext there is no problem you are allowed to do anything you want. But once you pass the insane profit target then they will make excuses. In their marketing, they said you will get a refund and a 15% return from your demo phase but this is a lie. There are more conditions that apply once you get their real account. In my robot, I tested with 0.01 trade and it makes some trade which is very small and there is no huge profit or loss. It's like 0.78 USD now they pause my account and said I violated their rules. Alright at least they can refund the fee and the demo phase 15% profit but no. There will be no pay. I am curious is there any real person trading with them? If anyone makes a trade with them please reply this review thanks!”
“Worst and bad company. Thieves and scammers . You shouldn’t go there or buy any of there accounts. They are big scammers just want to rip you by all means and forced you to buy there accounts . I am talking on base on my personal experience and I am sure many traders have gone through this as well. account got frozed due to violation to daily loss limit breached. Really ??? My total loss limit is 10k and I did not reached it. After few weeks chatting with the account manager, they admitted that nothing was violated and I didn’t reached my daily list, and my account is active now. It’s been 3 weeks since that and I still have invalid account regardless of the hundreds massages to the account manager still nothing was done to fix that. I have the full screenshot of proof about my chat with the account manager that really disappointing.”
“Worst and bad company. Thieves and scammers . You shouldn’t go there or buy any of there accounts. They are big scammers just want to rip you by all means and forced you to buy there accounts . I am talking on base on my personal experience and I am sure many traders have gone through this as well. They made it clear you make 15% of the profit you make in phase 1 and phase 2 of challenges .I got my live account and making my profit .just because of news that came in while trade was on they told me I violated rule which was on profit . I closed the trade immediately I saw the news in. Now was able to make other trades after the news . You wouldn’t believe the next day I got email I violated . They disabled my account . Refused to give me my 15% each on both phase 1 and phase 2. They took out my profits I made from trading live account . This prop firm is the worst prop firm have ever experienced in my life . They were asking me to buy new account . Dude you have my money with you . Took all my money”
“I made 1749 on day one and lost 2543 on day two and was booted out. So I made a net loss of just over $800. But my buddy who recently joined made a loss of 1900 on day and is still active. I just don't understand.”
“Legit my ass .... Starting with 15K express account, daily loss limit which 750 is calculated from 2 different days in a row, and account got frozed due to violation to daily loss limit breached. Really ??? My total loss limit is 1500 btw, I have the full screenshot of proof about my chat with the account manager that really disappointing, only ask me to topup to reset if I 'd like to continue.”
“It would be a great tool if they would abide by their own described rules. I filed a dispute with my credit card company because it appears I will not get a proper resolution. I held my trade, based on what they described on their site in the FAQs. Anmol confirmed in her response, my understanding of this rule is correct. So, proceed with caution because you may never get a proper resolution. The earnings of 15% is appealing and more appealing than other prop firms, but if they do not abide by their own rules it is fruitless.
According to their website, as well as their support (which I have provided my bank the transcript of the discussion), I did not violate the balance rules. You are to maintain no less than 95% of your original balance at all times. I was above the original balance (in well over $1200 in profit) at the time the company paused my account and closed my trades. I have screenshots of what my ending balance was after they closed the trade I was holding and shared this with Anmol. After they closed my open trade, the balance was $15441.44. According to their rules, I would have violated, if my balance had dropped below $14,250, which is a loss of $750 of my original balance of $15,000. I have provided the company with screenshots of my balance from their dashboard, as well as MT4, showing my Balance, nor my Equity ever dropped below 95%. In the support discussion with me here is what Anmol stated:
Anmol 07:58:35 am
Let’s say that you get a 100000$ funded account. .You put on a trade, the trade goes to 5000$ in profit.. You think that the trade has more potential and you decide to leave the trade running overnight... Now, the next day, for some reason the market reverses and your trade goes back to breakeven...This is very normal right? It can happen any day..
But, here’s the twist.. When the new day started, your equity was around 105000$ and as the trade went back to breakeven, your equity went from $105000 to $100000..and your drawdown for the DAY based on Equity is 5%..and because of the fact that 'Equity based drawdown' firms count daily loss limit based on equity just like this example, they will count this as a violation of their daily drawdown rule and punish you for this, even though you did not make ANY loss on the original 100000 amount..
In this same scenario, FundedNext, a 'Balance based drawdown' firm will not count this as a violation. We will look at your account balance, which is $100,000. At this point, We will only count a daily loss violation if your account equity at any point goes to $95,000 for the day.
I hope you understand the difference.
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What I have provided above is a scenario that Anmol gave in my chat discussion with her. If you read the FAQs, you will see a similar scenario presented. It is important to know the rules, so you will know if you can hold a trade and if you might possibly need to hedge that trade to offset.
Again, it would be a great tool, if they abide by their own described rules. Also, their responses are pretty unprofessional and rude. I have never worked with any other prop firms. I wanted to give this one a chance because the 15% was appealing. Although I have asked, if according to their scenario and site rules, I did not lose any of my original balance and I was in profit and had dropped below my profit or the initial funded amount of $15K, how did I violate the rules, I have not been provided with an answer of that. They simply say I hit the daily loss limit of $750. Again their site and Anmol confirmed you can lose "your profit" plus 5% of your initial/original balance.
Therein is where my problem lies! Be well!”
