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Next Step Funded Review 2024

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Next Step Funded Review 2024
News tradingHolding positions over the weekendHigh-frequency trading
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Your Capital is at risk.

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

Overview
Company:Next Step Funded
Founded:2023
Headquarter:Australia
Min Price:$79
Max Fund:$300,000
Challenges:3
About
Next Step Funded is an Australian proprietary trading firm that offers up to $300,000 in trading capital to traders who can pass their Flash, Standard, or HFT challenges without exceeding the maximum drawdown.
Rank and Score
Pros and Cons
Withdrawal Payments
Instruments
Pros
24/7 trading with weekend position holding allowed
Diverse funding options starting from $7,500 up to $300,000
Variety of funding evaluations
Cons
Concerns about safety and legitimacy due to negative feedback
Very strict trading rules with a 10% profit target and 5% maximum drawdown
High number of negative reviews on Trustpilot

Next Step Funded is a well-known prop firm based in Australia. This platform allows traders to trade various instruments, including Metals, Forex, stocks, indices, and oil, pass Standard, Flash, or HFT evaluations, and get funded up to $300,000.

In this Next Step Fund review, we'll provide an in-depth guide on what this platform offers, its pros and cons, and everything you need to know before deciding if it's the right fit for you.

Next Step Funded review
Complete review of Next Step Funded pros, cons, and offerings

Next Step Funded Prop Firm Company Information Overview

Next Step Funded (Prop Solutions FZE-LLC) is a prop trading firm that empowers traders by providing access to significant capital, allowing them to unleash their full potential in the forex prop trading market.

Here's what you need to know about Next Step Funded:

  • Founded by a team of seasoned professionals with extensive backgrounds in trading and management
  • Global presence with operations spanning multiple continents
  • Offers funding challenges and account options ranging from $7,500 to $300,000
  • Challenge prices ranging from $71 up to $2150

Next Step Funded Specifications

Let's break down the key specifications of Next Step Funded:

Account currency

N/A

Minimum price

$71

Maximum leverage

1:100

Maximum profit split

100%

Instruments

Forex, indices, commodities, metals, stocks

Assets

USD/JPY, FTSE 100, Gold, oil

Evaluation steps

2

Trading platform

MT5

Withdrawal methods

Rise

Maximum fund size

$400,000

First profit target

10%

Maximum daily loss

5%

Challenge time limit

Unlimited

News trading

Yes

Maximum total drawdown

12%

Commission per round lot

N/A

Trust pilot score

3.0/5

Payout frequency

weekly

Established country

Australia

Established year

N/A

Next Step Funded Pros & Cons

Before diving in, it's crucial to weigh the advantages and disadvantages of Next Step Funded:

Advantages

Disadvantages

Diverse funding options starting from $7,500 up to $300,000

High number of negative reviews on Trustpilot

24/7 trading with weekend position holding allowed

Very strict trading rules with a 10% profit target and 5% maximum drawdown

Variety of funding evaluations

Concerns about safety and legitimacy due to negative feedback

While the funding options appear attractive, traders should carefully consider the strict rules and high challenge fees before proceeding.

Funding Options & Prices on the Next Step Funded

Next Step Funded offers a variety of account sizes and challenge types to suit different trader preferences:

Flash Evaluation:

Funding size

$25k

$50k

Evaluation price

$28

$62

Standard evaluation 1-step:

Funding size

$15k

$25k

$50k

$100k

$200k

Evaluation price

$125

$179

$359

$602

$1,205

Standard evaluation 2-step:

Funding size

$15k

$25k

$50k

$100k

$200k

Evaluation price

$98

$152

$305

$503

$998

HFT evaluation:

Funding size

$7.5k

$15k

$25k

$50k

$100k

$300k

Evaluation price

$71

$140

$220

$440

$890

$2150

While the funding options appear attractive, traders should carefully consider the strict rules and high challenge fees before proceeding.

Next Step Funded Prop Firm Evaluation Plans

Next Step Funded's evaluation process consists of multiple options:

Standard Evaluation

This evaluation plan has no time limits and is suitable for most traders. It is offered in one-step and two-step evaluation stages

Standard Evaluation 1-step:

Account Size

$15k

$25k

$50k

$100k

$200k

Maximum daily drawdown

4%

Maximum overall drawdown

8%

Profit target

10%

Maximum trading days

Unlimited

Challenge fee

$125

$179

$359

$602

$1,205

This challenge is convenient for both experienced and beginner traders.

Next Step Funded Standard 1-step evaluation
Next Step Funded Standard 1-step evaluation rules and conditions

Standard Evaluation 2-step:

Account Size

$15k

$25k

$50k

$100k

$200k

Maximum daily drawdown

5%

Maximum overall drawdown

10%

Profit target phase 1

8%

Profit target phase 2

5%

Maximum trading days

Unlimited

Challenge fee

$98

$152

$305

$503

$998

Traders who prefer a gradual approach toward becoming funded can benefit from this evaluation plan.

Next Step Funded Standard 2-step evaluation
Next Step Funded Standard 2-step evaluation rules and conditions

Flash Evaluation

Account Size

$25k

50K

Maximum daily drawdown

5%

Maximum overall drawdown

5%

Profit target

10%

Maximum trading days

1

Challenge fee

$28

62$

This program is designed for traders who want to get funded as soon as possible.

Next Step Funded Flash evaluation
Next Step Funded Flash evaluation trading rules

HFT Evaluation

Account Size

$7.5k

$15k

$25k

$50k

$100k

$300k

Maximum daily drawdown

5%

Maximum overall drawdown

12%

Profit target

10%

Maximum trading days

Unlimited

Challenge fee

$71

$140

$220

$440

$890

$2150

This challenge type is tailored for high-frequency traders.

Next Step Funded HFT evaluation
Next Step Funded HFT evaluation rules

Bonuses and Discounts in Next Step Funded Prop

Next Step Funded occasionally offers discount codes so new traders can buy challenges at a discount. Unfortunately, this prop firm doesnā€™t have any active bonuses.

Next Step Funded currently offers an affiliate program for traders to invite their friends to this platform and earn up to 12.5% commission on their purchases. This program is particularly attractive for traders with a high following on the social media accounts.

Next Step Funded affiliate program
Next Step Funded has a tiered commission structure

Tradable Symbols in Next Step Funded

Next Step Funded offers a diverse range of tradable instruments, including:

  • Forex: Major, minor, and exotic currency pairs
  • Indices: US and Australian indices
  • Oil: Brent and WTI
  • Stocks: Select international equities
  • Metals: Gold, silver, copper, and more

This wide selection allows traders to diversify their strategies and take advantage of various market conditions.

Next Step Funded Payment and Withdrawal Methods

Next Step Funded provides several options for traders to pay challenge fees and withdraw their earnings:

Payment methods:

  • Credit/Debit cards
  • Cryptocurrencies

Payout methods:

  • Bank wire transfers

The lack of various payout options is one of the major drawbacks of the Next Step Funded prop firm.

Next Step Funded Prop Commission and Costs

Unfortunately, Next Step Funded doesnā€™t provide any information regarding spread or commission costs of trading on this platform. This is a major drawback for users since it effects their profitability.  Traders should consider this before purchasing a challenge from Next Step Funded.

Next Step Funded Prop Trust Scores and User Reviews

Next Step Funded's Trustpilot score paints a concerning picture:

  • Overall score: 3.0 out of 5 stars (based on over 940 reviews)
  • 1-star ratings: Approximately 50%
Next Step Funded Trustpilot score
Next Step Funded has gained 3.0 stars on the Trustpilot, which is a major concern

The company actively responds to negative reviews, indicating an effort to address customer concerns. However, the high proportion of negative reviews raises significant red flags that potential traders should carefully consider.

Next Step Funded Support Methods

Next Step Funded claims to offer 24/7 customer support through:

  • Email: support@nextstepfunded.com
  • Live chat: available on the website

However, user reviews suggest mixed experiences with their support team. While some praise the responsiveness, others report significant delays or lack of resolution to their issues. The inconsistency in support quality appears to be a point of frustration for many traders.

Next Step Funded claims to answer traders' inquiries through Discord as well, but this seems not true since you canā€™t find their Discord chat by searching on the web.

Next Step Funded Prop Firm Socials

Next Step Funded maintains a presence on several social media platforms:

  • YouTube: https://www.youtube.com/@nextstepfunded
  • Instagram: https://x.com/nextstepfunded
  • Twitter: https://x.com/nextstepfunded

Traders can use these social media channels to stay informed about Next Step Funded's offerings and connect with other traders.

TF Expert Suggestion

As an Australian prop firm, Next Step Funded presents itself as an attractive option for traders seeking funded accounts with high-profit splits and various challenges, including HFT, Flash, and Standard Evaluation. Their range of account sizes, use of the popular MT5 platform, and emphasis on quick payouts are certainly appealing features.

However, the significant number of negative reviews and concerns about the company's practices cannot be ignored. Reported issues with withdrawals and inconsistent customer support raise serious questions about the reliability and sustainability of Next Step Funded's model.

Potential traders should approach Next Step Funded with extreme caution and do their due diligence before joining this platform.

FAQs

Is Next Step Funded legit?

While registered as a company, the high number of negative reviews raises concerns about legitimacy.

What's the minimum challenge price for Next Step Funded?

Challenge fees start from $71 for the smallest account size of $7,500.

What trading platform does Next Step Funded use?

Next Step Funded utilizes the MetaTrader 5 (MT5) platform, provided through their partnership with Eightcap.

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