FundedNext Singapore Review
Pros (What we like)
- Offers balance-based drawdowns (safer than equity-based)
- Provides a 15% profit share even during the evaluation phase
- No time limit rules on standard assessment profiles
- Friendly user interface and prompt support channel
Cons (Drawbacks)
- Higher commission charges on raw spread accounts
- Offshore regulatory environment
Overview: Peter's Honest Audit
FundedNext is a UAE-based prop firm launched in 2021 that has quickly risen to prominence by offering trader-friendly rules. Their biggest selling point is that they offer a 15% profit share during the evaluation phase, which is almost unheard of in the industry. For Singapore retail traders, this means you can make back your challenge fee before you even get fully funded.
Another critical feature of FundedNext is their use of balance-based daily drawdown rather than equity-based daily drawdown. If you have open trades floating in profit or loss, your drawdown limits are calculated based on your starting daily balance at midnight, rather than fluctuating equity. This gives you a massive breathing room during high-volatility news runs.
Let's look at how their challenges work, their local payment integrations, and whether they are worth trading with.
Evaluation Models: Stellar vs Express
FundedNext offers multiple challenge models. The Stellar challenge has no time limits, meaning you can take as long as you want to hit the profit targets (8% Phase 1 / 5% Phase 2). The daily drawdown is strictly set at 5% based on the balance. For beginners in Singapore who struggle with the pressure of 30-day deadlines, the Stellar challenge is an excellent environment to practice proper risk management without emotional rush.
Singapore Deposits: FAST Transfer Support
Unlike most Western prop firms, FundedNext has integrated localized payment gateways that allow Singapore residents to deposit challenge fees using local credit cards and online bank transfers. Withdrawals are processed through Deel or directly via cryptocurrency (USDT, USDC, BTC), which typically clears within 24 hours of your bi-weekly request.
Is FundedNext Regulated in Singapore?
FundedNext is an offshore entity registered in the UAE. Like all prop firms, it is not licensed or regulated by the Monetary Authority of Singapore (MAS). However, because they use reputable brokers with tier-1 liquidity feeds, the execution speeds on their custom servers are stable, with average slippage on EURUSD remaining under 0.1 pips.
Frequently Asked Questions
Do I pay tax on FundedNext payouts in Singapore?
Yes. Payouts are paid to you as a contractor fee, which is classified as trade income by the IRAS. It is taxable at personal income rates.
Does FundedNext support MT5?
Yes, FundedNext supports MT4, MT5, and cTrader through their custom servers and partner liquidity providers.
Can I trade during news on FundedNext?
News trading is permitted on all Stellar challenge accounts. However, express accounts may have restrictions, so always choose the Stellar model.
High-Risk Alert (YMYL Compliance)
Binary options trading is highly speculative and carries a substantial risk of loss. The Monetary Authority of Singapore (MAS) has issued multiple advisories warning that retail investors dealing with unregulated offshore binary options platforms are highly likely to lose their entire capital. Up to 90% of retail retail traders blow their accounts here.
Editorial Transparency & Bias Check
Our team tests brokers using real money accounts to measure actual spreads, transaction friction, and deposit speeds. Broker ratings are calculated algorithmically based on spreads, regulation, customer service, and ease of withdrawals. We refuse payment in exchange for positive reviews. Unregulated brokers are marked clearly with risk warnings.
Written by PeterVERIFIED TRADER
Professional Retail Trader & Editor
Trading Forex, Gold (XAUUSD), and indices since 2012. Survived three margin calls and spread widenings so you don't have to. Peter reviews platforms based on actual deposit testing, spreads audit, and latency check.