Next Step Funded prop firm offers funded accounts to traders, but it has a multitude of negative reviews. All trading including the funded phase is done on simulated accounts and the firm promises up to 100% profit-sharing, which is a direct red flag together with negative trader reviews. The firm lacks decent support options and is known for not replying to Discord inquiries. While the fees start from 14 USD, the firm has very strict rules, making it difficult to actually hit the profit target.
In this Next Step Funded review, we will assess the firm’s safety, rules, funded options, support, and more.
Pros & cons of Next Step Funded prop firm
Pros
Most payment options are free and instant
Offers access to MetaTrader 4
Fast and digital account opening/verification
No live chat or multilingual options
Lacks educational resources
Claims up to 100% payouts, which is suspicious
Very strict rules with a 10% profit target and 5% maximum drawdown
Cons
No ability to withdraw with $0 fees
Lacks safety and legitimacy
The majority of trade reviews are negative, indicating serious inefficiencies
Safety of Next Step Funded — 1.5
Next Step Funded reviews are lacking on the FPA platform, which is very important. This could be considered a red flag for any prop firm trying to establish itself as a reliable firm. There are over 600 reviews on Trustpilot, where around 50% are 1-start evaluations indicating serious inefficiencies and even a possibility for a scam. What this means is that half of its clients are not satisfied with the firm’s services and customer support and complain about the firm being a scam company. The firm is backed by EightCap, ASIC-regulated Forex, and CFDs broker. It offers a regulated trading environment and advanced trading platform, MetaTrader 4.
The firm gets only a 1.5 score in this section, for very questionable practices and unsatisfied clients.
Next Step Funded Funding and maximum capital allocation — 3
Next Step Funded funded programs offer diverse funding options on three different funded account types. These accounts are standard, HFT, and flash funded accounts. Next Step Funded funding ranges are different for each of these accounts. The standard account comes with funded options of 15k, 25k, 50k, 100k, and 200k US dollars. The HFT funded account has the most diverse range of funding options including 7.5k, 15k, 25k, 50k, 100k, and 300k USD. The final Next Step Funded challenge the flash account comes with funding options of 15k, 25k, 50k, 100k, and 200k USD options.
The Next Step Funded scaling plan is not available, as the firm does not offer increased funding for consistently profitable traders. This probably is because it does not have profitable traders, as half of its clients claim the firm is a scam. Overall, the firm receives a 3 score in this section for offering mediocre funding experience.
Next Step Funded Assets — 2.5
Next Step Funded prop trading assets include Forex, indices, commodities, and stock CFDs. These assets are moderate in diversity and should include all popular instruments in these assets. There are no cryptos offered as of now. Overall, the firm receives a 2.5 score in the assets section, for offering a mediocre list of instruments.
Next Step Funded Trading rules and limitations — 0.7
Next Step Funded rules are very strict when it comes to maximum drawdown. The overall drawdown is limited to just 5% which restricts the strategies traders can take to only scalping strategies. The daily loss limit is also at 5% and the profit target is 10%. The profit target is actually high with this maximum loss limit, which makes it difficult to hit the profit target without breaching rules. News trading is allowed, and trailers can also hold open positions over the weekends.
Overall, the firm gets a 0.7 score in this section for tough rules.
Next Step Funded Fees — 2.5
The fees are very low from 14 USD, but many traders complain about lengthy times to start funding challenges after purchasing an account. One trader even claimed 6 days of waiting for now answer to get a funded account with this firm. Different accounts come with different fees. All the fees for funded challenges are one-time, meaning traders have to pay them once when they purchase the challenge.
The standard account comes with 1-step and 2-step configurations and fees are different:
- Standard 1-step 15k – 125 USD; Standard 2-phase 15k – 98 USD
- 1-step 25k – 179 USD ; 2-step 25k – 152 USD
- 1-step 50k – 359 USD; 2-step 50k – 302 USD
- 1-step 100k – 602 USD; 2-step 100k – 503 USD
- 1-step 200k – 1,205 USD; 2-step 200k – 998 USD
The HFT funded challenge has the following one-time fees:
- Funded amount: 7,500 USD — one-time fee: 75 USD
- HFT 15k – 140 USD
- HFT 25k – 220 USD
- HFT 50k – 440 USD
- HFT 100k – 890 USD
- HFT 300k – 2150 USD
The third funded account is a flash account, and it has the following fees:
- Flash 15k – 14 USD
- Flash 25k – 22 USD
- Flash 50k – 42 USD
- Flash 100k – 75 USD
- Flash 200k – 150 USD
Next Step Funded free trial is not available and traders have to purchase the funded accounts before they can test the firm’s trading conditions, which is a drawback.
Next Step Funded free repeat is not offered either, and traders will have to pay fees again to start over after they fail the challenge.
Overall, the firm receives a 2.5 score in this section for offering average fees.
Next Step Funded Platforms — 2.6
Next Step Funded prop trading firm is backed by EightCap, which provides a MetaTrader 4 platform with competitive spreads. The spreads start from 0 pips and there is a commission of 6 USD round turn per lot. MT4 supports automated trading and custom indicators, making it one of the most popular Forex trading platforms out there. The firm gets a 2.6 score in this section.
Next Step Funded Profit-Sharing — 3
Next Step Funded profit split is unrealistic at up to 100%. All trading is virtual and traders are never allowed to access live markets, hence the profit split this high. This profit split is a direct red flag together with very negative trader feedback and makes this firm not worthy of risking your money. The firm receives a 3 score in this section for offering a high-profit split, although unrealistic.
Education and trading tools at Next Step Funded — 0
There are no educational resources offered by Next Step Funded prop trading firm. There are no webinars, trading courses, or video materials to learn trading. The firm does not even provide a trading blog, which is also a downside of this firm.
Overall, Next Step Funded receives a 0 score in this section for lacking essential educational resources.
Customer Support at Next Step Funded — 0
The support from Next Step Funded is very horrible, and many traders complain to the firm not to answer their questions on Discord. There are no other support options offered at the moment, which is more than just a red flag. The firm fails to answer on Discord and has no other means to communicate with its customers, which is a serious red flag. For offering almost no support, the firm gets a 0 score in this section.
Frequently Asked Questions on Next Step Funded
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