I used to be a strong supporter of FundedNext until they recently scammed me. As a conservative news trader, I had been actively trading for over 5 months and was on the verge of passing their challenge. Suddenly, I received an email from FundedNext stating that suspicious activities had been detected in my account. They provided a screenshot showing that another trader had been trading around the same time as me. While it's common for news traders to trade during news events, the trades between me and this other trader were not identical. They differed in terms of open time, close time, lot size, and price. The only similarity was that some trades were opened at the same minute (e.g., 05:29 PM).
I have a very very strong justification and evidence are available upon request, I explained to FundedNext that this similarity is merely because both of us were news traders. Some of the trades were opened slightly before or after mine, but there was no exact match. Additionally, I pointed out that I had successfully passed the first phase of the challenge using my own strategy, so why would I copy someone else's?
Unfortunately, FundedNext failed to provide any further explanation. Instead, they cited their Section 18 of customer service, which allows them to terminate the agreement if a customer fails to comply with the terms. This experience has been extremely disappointing and unethical. Despite referring many customers to FundedNext, they have fallen far short of my expectations. It appears that they terminate contracts as soon as traders become profitable.
9 months ago
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