FundedNext, a prop trading firm launched in 2022, is now launching a new futures prop trading brand, FundedNext Futures, which will be available globally along with users in the United States, Financemagnates.com has learned exclusively.
However, the company clarified that its legacy CFDs-based prop products will remain unavailable to US clients.
Re-Entry into the US
FundedNext initially offered its original prop trading services to US residents but was forced to withdraw from the market following the crackdown on MetaQuotes in February 2024. “This decision was made because FundedNext operates through platforms like MetaQuotes and cTrader, both of which ceased offering services in the US market,” a FundedNext represent told Financemagnates.com.
Indeed, at that time, several large and small prop firms halted services for US traders and shifted to alternative trading platforms.
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The new futures offering from FundedNext will operate on two platforms: NinjaTrader and Tradovate.
“What we’re building is not just a product, but a step toward a complete prop trading ecosystem—for every trader, in every market,” said Syed Abdullah Jayed, CEO of FundedNext.
FundedNext is not the first firm to move into the futures segment. Other prop trading companies such as Topstep, Apex, Uprofit, and SeacrestFunded (formerly MyFundedFX) have also started offering futures prop trading services.
According to FundedNext, its new futures platform will reward traders with a “15 per cent performance reward” from the initial challenge phase. “Once funded, traders retain 100 per cent of their performance rewards. There are no splits or deductions,” the company stated.
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Prop Firms Becoming Brokers
In addition to entering the futures space, FundedNext is also expanding into the brokerage business. The firm earlier disclosed that it has set up operational hubs for its brokerage division in Cyprus and Malaysia. However, the current status of its licence applications is unknown.
Many prop firms are now seeking brokerage licences. Earlier this year, Czech Republic-based FTMO acquired brokerage giant OANDA. While the financial details of the deal were not disclosed, Financemagnates.com reported that FTMO ended 2023 with more than $213 million in revenue and a pre-tax profit of $98 million. The firm also held $82 million in cash at the end of the year.
FundedNext, a prop trading firm launched in 2022, is now launching a new futures prop trading brand, FundedNext Futures, which will be available globally along with users in the United States, Financemagnates.com has learned exclusively.
However, the company clarified that its legacy CFDs-based prop products will remain unavailable to US clients.
Re-Entry into the US
FundedNext initially offered its original prop trading services to US residents but was forced to withdraw from the market following the crackdown on MetaQuotes in February 2024. “This decision was made because FundedNext operates through platforms like MetaQuotes and cTrader, both of which ceased offering services in the US market,” a FundedNext represent told Financemagnates.com.
Indeed, at that time, several large and small prop firms halted services for US traders and shifted to alternative trading platforms.
You may also like – “We Are Witnessing a Unique Event – the Rise of Platforms”: Leverate’s CEO
The new futures offering from FundedNext will operate on two platforms: NinjaTrader and Tradovate.
“What we’re building is not just a product, but a step toward a complete prop trading ecosystem—for every trader, in every market,” said Syed Abdullah Jayed, CEO of FundedNext.
FundedNext is not the first firm to move into the futures segment. Other prop trading companies such as Topstep, Apex, Uprofit, and SeacrestFunded (formerly MyFundedFX) have also started offering futures prop trading services.
According to FundedNext, its new futures platform will reward traders with a “15 per cent performance reward” from the initial challenge phase. “Once funded, traders retain 100 per cent of their performance rewards. There are no splits or deductions,” the company stated.
You may also like – Trustpilot or Bust: Why Brokers and Prop Firms Are Going All-In on Review War Rooms
Prop Firms Becoming Brokers
In addition to entering the futures space, FundedNext is also expanding into the brokerage business. The firm earlier disclosed that it has set up operational hubs for its brokerage division in Cyprus and Malaysia. However, the current status of its licence applications is unknown.
Many prop firms are now seeking brokerage licences. Earlier this year, Czech Republic-based FTMO acquired brokerage giant OANDA. While the financial details of the deal were not disclosed, Financemagnates.com reported that FTMO ended 2023 with more than $213 million in revenue and a pre-tax profit of $98 million. The firm also held $82 million in cash at the end of the year.
This post is originally published on FINANCEMAGNATES.
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