FTMO vs FundedNext: Which Forex Prop Firm Is Better in 2026?

FTMO vs FundedNext is the most common head-to-head in forex prop trading, and the two firms are closer than their reputations suggest. Both use the mainstream forex rulebook - a 5% daily loss limit and a 10% maximum loss - and both sell a two-phase route with a 10% then 5% target. Where they split is money: FTMO refunds your fee once you pass and take a payout, while FundedNext pays you 15% of what you earn during the challenge itself. This comparison covers price, rules, payouts and who each firm suits, using the data from our FTMO and FundedNext reviews.

Short answer: choose FTMO if you expect to pass, trade from the US, or want payouts through conventional rails - the refunded 2-Step fee makes a successful challenge free. Choose FundedNext if you are outside the US, want the cheapest entry and no time limit, and value getting something back from a challenge you might not pass.

FTMO vs FundedNext at a Glance

€155 vs $32

Cheapest entry (FTMO vs FundedNext)

Refund vs 15%

FTMO refunds the fee; FundedNext shares challenge profit

Yes vs No

Accepts US traders

FTMO or FundedNext: The Short Answer

The drawdown rules are close enough that neither firm wins on rule design alone. So the decision comes down to three things: how confident you are of passing, where you live, and how you want to be paid. A confident trader gets more from FTMO, because the refund turns the €155-plus fee into zero. A trader who expects a few attempts gets more from FundedNext, because entry starts around $32 and challenge-phase profit is not wasted. And the US question decides itself: FTMO now has a US route through its OANDA acquisition; FundedNext does not accept US traders.

Quick Comparison Table

	FTMO	FundedNext
Editor Score	4.1 / 5	3.9 / 5
Entry price	€155 (up to ~€1,080)	From ~$32 ($5K Evaluation)
Two-phase targets	10%, then 5%	10%, then 5% (Stellar 2-Phase)
One-phase route	1-Step: 10% target, 3% daily, 10% trailing max, no refund	Stellar 1-Phase: 8% target, 10% max loss
Drawdown (two-phase)	5% daily, 10% static max, on equity	5% daily, 10% overall
Minimum trading days	4 per 2-Step phase; none on 1-Step	5 per phase on Stellar
Time limit	None on either route	None on Stellar or Evaluation
Fee back	Full refund after pass + first payout (2-Step)	No refund; 15% of challenge-phase profit
Profit split	80% scaling to 90% (2-Step); 90% (1-Step)	Up to 95% on live accounts
Payouts	14-day cycle, ~8 hours, no fees	Weekly cycle, USDT TRC20 or Perfect Money
Platforms	MT4, MT5, cTrader, DXtrade	MT4, MT5, cTrader
US traders	Yes, via the OANDA route	No

Pricing: What You Actually Pay

On the sticker, FundedNext wins easily. Its Evaluation starts around $32 for a $5,000 account, while FTMO's range runs roughly €155 to €1,080 and is priced in euros, so the real cost moves with the exchange rate. FundedNext's code REFER7DVQ takes a further 5% off; FTMO rarely discounts at all.

The sticker is the wrong number to compare, though, because each firm hands money back in a different way. FTMO returns your 2-Step fee in full once you pass and take a payout, so for a trader who succeeds the challenge costs nothing. FundedNext keeps the fee but pays 15% of the profit you make during the challenge, paid before funding - so a profitable attempt that never reaches funding still returns something. The refund rewards passing; the profit share rewards trading well even if you don't pass.

Which money-back model suits you

You expect to pass in one or two attempts

FTMO's refund makes the passing attempt free. The more confident you are, the cheaper FTMO gets.

FTMO

You expect several attempts

FundedNext's ~$32 entry keeps retries cheap, and the 15% share returns something from profitable near-misses.

FundedNext

You plan to take the 1-Step route

FTMO's 1-Step pays 90% but does not carry the refund, which removes FTMO's main cost advantage at the start.

Compare carefully

Full FTMO breakdown

The 2-Step refund, the static and trailing maximum loss rules, the OANDA acquisition and when the 1-Step's 90% split pays off.

Read our FTMO review

Rules: Near-Identical on Paper, One Real Difference

Both firms use a 5% daily loss limit and a 10% maximum loss on their main routes - the template FTMO created and most forex firms copied. Both two-phase routes ask for 10% then 5%. The practical risk approach is the same at either: size against the 5% daily limit, not the 10% overall, because two bad trades in one session end more challenges than slow overall drawdown does.

FTMO publishes exactly how the limits work, and it is worth knowing before you compare. Both are measured on equity, so a floating loss on an open position counts before you close it. The daily limit is measured from that day's starting balance at midnight CE(S)T, and the 2-Step's 10% maximum loss is static - fixed to your starting balance, never trailing your profits. Neither firm puts a time limit on its main routes. Minimum days are close: four per phase on FTMO's 2-Step, five per phase on FundedNext's Stellar.

The routes to avoid at each firm

FTMO 1-Step, for most traders. A single 10% target and a 90% split sound better, but it drops the fee refund, tightens the daily limit to 3%, trails the maximum loss on your end-of-day balance and adds a 50% Best Day Rule.

FundedNext Express. Funding comes upfront, but it demands a 25% gain inside four to eight weeks - a high target under a hard clock, the combination that produces forced trades.

FundedNext vs FTMO Payout: Speed, Cycle and Rails

FundedNext pays more often; FTMO pays more conventionally. FundedNext runs a weekly payout cycle, against FTMO's 14 days, so a FundedNext trader can request twice as often. But FundedNext pays only through USDT TRC20 or Perfect Money - no bank transfer, no local currency - which rules it out for some traders and adds a conversion step for most. FTMO processes payouts in about eight hours once verified, charges no withdrawal fees, and backs them with the longest public record in forex prop trading.

On the split, FundedNext's headline is higher: up to 95% on live accounts, against FTMO's 80% base with a defined path to 90%. FTMO's 1-Step pays 90% from the start, but without the refund. Treat 95% as the top of FundedNext's range rather than the rate you start on. FTMO's refund also closes part of the split gap in the first year, since it returns money FundedNext keeps.

Full FundedNext breakdown

Stellar vs Evaluation vs Express, the 15% challenge-phase profit share, and the payout rails to check before you buy.

Read our FundedNext review

Trust and Track Record

FTMO has the stronger position. It has operated at scale under public scrutiny for years, and in December 2025 it acquired OANDA, a regulated broker, which puts its US offering on NFA-regulated infrastructure - rare in a sector of unregulated intermediaries. Complaints about FTMO centre on strict rules, not on payment. FundedNext is one of the larger forex firms by trader volume with no public pattern of denied withdrawals, and its choice to pay traders during the challenge is itself a signal of a working payout process. Both are legitimate; FTMO is the more conservative counterparty.

Which Forex Prop Firm Is Better for You?

Choose FTMO if

You trade from the United States

You are confident of passing and want the fee back

You want a static maximum loss that never trails your profits

You need bank-rail payouts or use DXtrade

Counterparty track record matters more to you than headline split

Choose FundedNext if

You live outside the US and are comfortable being paid in USDT or Perfect Money

You want the cheapest possible entry - around $32

You expect more than one attempt and want challenge-phase profit to count

You want weekly rather than fortnightly payout requests

You prefer a single-phase route with an 8% target and a 10% max loss

FTMO vs FundedNext: FAQ

Is FTMO or FundedNext better?

FTMO is better for confident traders, US traders and anyone who wants bank-rail payouts, because its 2-Step refund makes a passing challenge free. FundedNext is better for budget-conscious traders outside the US who expect several attempts, thanks to its ~$32 entry, no time limit and 15% challenge-phase profit share.

Is FundedNext easier to pass than FTMO?

The two-phase routes are equally hard: both ask for 10% then 5% with a 5% daily and 10% maximum loss. FTMO's 2-Step maximum loss is static, which is forgiving once you are in profit, while FundedNext's Stellar 1-Phase - 8% against a 10% max loss - is an easier single-phase route than FTMO's 1-Step, with its 3% daily limit and trailing maximum.

Which pays faster, FTMO or FundedNext?

FundedNext lets you request more often, on a weekly cycle against FTMO's 14 days. FTMO is the faster documented processor once you request, at about eight hours with no fees, and pays through conventional rails rather than USDT or Perfect Money only.

Does FundedNext refund the challenge fee like FTMO?

No. FundedNext pays 15% of profits earned during the challenge instead. FTMO refunds the full 2-Step fee once you pass and receive a payout, but not the 1-Step fee.

Can US traders use FTMO or FundedNext?

FTMO, through the US route opened by its OANDA acquisition - check current US terms before buying. FundedNext does not accept US traders.

Not Sold on Either?

Our forex ranking compares FTMO, FundedNext and the other forex firms we track on drawdown, payout speed, split and cost, with the same public formula.

See the Best Forex Prop Firms