NexGen Future Trader Review 2024
This innovative method provides traders with substantial funding and a 90% profit share. NexGen’s leading benefit for traders is their payout system which does not require any minimum trading days to receive payouts from profit. This model stands to give traders access to their profits with no additional hoops to jump through.
While relatively new to the scene, NexGen’s founders have decades of experience which brings a unique blend of innovation to the prop firm market. NexGen’s commitment is centered around excellence and transparency to benefit all of its traders, enhancing its niche in the trading community.
Why NexGen Futures Traders are an Outstanding Choice.
NexGen Futures Trader is rapidly gaining recognition in the prop trading sphere due to its standout features and payouts. Here are the key highlights of what makes NexGen a top choice for futures traders:
- No Payout Restrictions: NexGen introduces groundbreaking payouts that do not gatekeep traders’ profits.
- High Success Rate: Notable pass rate in the challenging Audition Challenge.
- Fast Support and Payouts: Industry-leading response and transaction speeds, superior to many established competitors.
- Tailored Account Options: Offers $25k, $50k, and $100k accounts, allowing full utilization of contract capacity from the start without scaling.
- Competitive Fees: Among the lowest in the industry, coupled with an activation fee for cost-efficiency.
- Resource Availability: Additional details and resources can be found on NexGen’s Knowledge Base page.
These features collectively make NexGen an appealing option for both novice and experienced traders looking to advance their futures trading careers.
NexGen Futures Trader Account Details
NexGen Futures Trader offers a flexible and supportive trading program designed to accommodate individual learning paces and trading styles:
- Take Your Time: Allows a minimum of five trading days within a generous 30-day period for subscription renewal, enabling traders to achieve consistency and meet profit targets at their own pace.
- One Account Signup at a Time: Encourages focus by permitting traders to have only one Rithmic account, while offering multiple plans to develop skills on a unified platform.
- Trade Your Way: Provides flexibility in trading styles as long as traders maintain the minimum account value, supporting personal trading strategies whether in news events or fast markets.
Audition leading to funded Show Account a single-step process.
NexGen Futures Trader is tailored to support diverse trading strategies and personal schedules, offering tools and features that promote both flexibility and risk management:
- Minimum Trading Days: No minimum Trading Day require.
- Flexible Schedule: Trade anytime within market hours.
- Profit Target & Risk Management: Focus on achieving targets while maintaining minimum account balances for safety.
- Daily Soft Stop: Limits losses by pausing trading if a set loss limit is reached. This does not close a traders account if breached.
- Capital Control: Opportunity to manage up to $400,000 in funded capital as skills advance.
- Post-Funding Flexibility: No minimum trading days or consistency requirements after funding.
- Support Tools: Includes Rithmic data access, an intuitive dashboard for managing trading activities, and a dedicated account manager for personalized coaching and navigation through market complexities.
Audition Sizing and Pricing
NexGen Futures Trader offers three tiered plans tailored for different levels of traders, each with specific features and pricing:
- They offer substantial discounts to their Base prices with a 60% Off Prop Firm Plus coupon (PFP)
Audition Account Rules
Auditions are meant for traders to show their trading strategies and consistency with the least number of rules possible. The goal is to hit the profit goal in as little as 5 days, and no maximum limit either. The only
rule is based upon a Static Minimum balance that if breached will fail the account.
One additional feature that has been implemented is a Daily Soft Stop (DSS). The DSS was put in place to help with account management and ensure traders do not lose their accounts. If a DSS is hit, the specific account will be locked from placing trades until the next trading open (6pm EST).
While there are no rules around consistency, it should still be a traders focus to practice sound trading tactics in preparation for funding.
Plan Limits:
- AUDITION Plans: Unlimited AUDITION plans can be active at once.
- SHOW Plans: Limited to passing ten SHOW plans at any time across different account sizes.
These guidelines ensure that traders manage risks effectively while striving to meet their trading objectives within the NexGen Futures Trader program.
Funded Show accounts (Payouts).
Funded Show accounts are an integral part of the same developmental process initiated during the AUDITION phase in NexGen Futures Trader, providing a seamless transition that enhances preparation for real trading environments. The monthly fee of Auditions is dropped for a one-time activation fee that varies on account size starting at $135. Up to 10 Show accounts may be active at any one time. Each account that reaches the profit goal will increase the trader’s total funded amount.
Show accounts are an extension of the AUDITION phase but provide flexibility and are tailored to prepare traders for real market conditions. Accounts are subject to a trailing threshold that adapts with trading activity to balance flexibility with discipline. Unlike the AUDITION stage’s Soft Daily Loss Limit, the SHOW stage’s threshold adjusts dynamically to ensure traders maintain a disciplined approach.
Funding is unlocked in as little as 6 trading days. This means payouts can be achieved in as little as 11 days with no payout restrictions. (i.e. payouts daily after reaching the profit goal in Show).
While strict consistency is not mandated, traders are encouraged to aim for approximately 50% profit consistency on their most profitable day as a benchmark before funding. Accounts lacking this level of consistency remain eligible for funding and payouts.
Traders will be subject to professional trading data fees. NexGen will cover the first 1.5 months of data fees for 1 exchange, all future data fees will be automatically subtracted from the trader’s account. The approximate fee is $129/month per exchange, paid directly to the exchange.
If traders deplete their accounts to the minimum balance, they must restart from the AUDITION phase, emphasizing the importance of careful balance management. All positions must be closed by 4:00 PM Central Time (CT) each day. Non-compliance will result in the termination of the trading plan/funded account.
NexGen Futures Traders Payouts
Qualifying for Payouts:
- Eligibility: Traders with funded SHOW accounts can withdraw profits if the account balance remains above the minimum balance.
- Withdrawal Buffer: Traders can withdraw up to 100% of the profit amount from their buffer balance. For example, a $500 profit allows for an additional $500 withdrawal from the buffer, totaling $1000.
- No Minimum Days: There is no minimum number of trading days required to request a payout.
Profit Share:
- Distribution: Profit withdrawals are subject to a 90/10 split, with the trader receiving 90% of the requested payout amount.
Post-Payout Account Status:
- Impact on Balance: Withdrawals reduce the total account balance but must not drop below the starting balance.
- Buffer and Minimum Balance: Withdrawal requests should consider the buffer amount to avoid closing the account. For instance, in a $50k account with a $3,000 starting balance and a $7,000 current balance, a maximum of $5,599 can be withdrawn without risking account closure.
Daily Payout Processing:
Procedure: After reaching the profit target plus buffer, traders can request payouts. NexGen reviews and confirms details before initiating ACH payment or SWIFT. Any Bank fees are deducted from the Traders account.
NexGen Futures Trading Platforms
The Rithmic platform has trading software (R|Trader Pro), but it also supports several other advanced trading software such as Quantower, Jigsaw Trading, Sierra Chart, Bookmap, ATAS, WealthCharts, NinjaTrader and many more.
Once funding is reached, traders will have access to TradingView and the brokers web/mobile trading platform.
What Products and Exchanges can I trade?
NexGen Futures Traders, provides access to the following range of futures contracts:
- CME Exchange (ES, NQ, RTY, MES, MNQ, M2K, NKD, 6A, 6B, 6C, 6E, E7, 6J, 6S, GE, HE, LE, MBT, MET, M6E, M6A, 6M, 6N)
- NYMEX Exchange (CL, QM, MCL, HO, NG, QG, RB, PL)
- COMEX Exchange (GC, HG, SIL, SI, MGC)
- CBOT Exchange (YM, MYM, ZN, ZW, ZL, UB, ZT, ZB, ZS, TN, ZF, ZC, ZM)
NexGen Futures Trader: Pros and Cons
- Multiple Account Management: Traders can manage up to 10 accounts simultaneously, which enhances their ability to scale operations.
- Unique Simplified Rules: NexGen is unique as it streamlines the trading process by eliminating mechanisms other firms use to fail accounts.
The firm simplifies operations with just one rule for evaluation and one for funding. After achieving the minimum target, these constraints are removed, allowing traders to focus solely on maintaining their account above the minimum balance. - Streamlined Funding Process: NexGen provides a one-step funding process like other leading firms, easing the transition from evaluation to live payout.
- Comprehensive Training: The platform offers a detailed training program designed to equip traders for success in the futures market. Every trader receives individualized coaching and support from a dedicated account manager.
- Diverse Platform Compatibility: NexGen supports a range of popular trading platforms, accommodating different trading styles and preferences.
- Flexible Withdrawals: There are no constraints on the number of trading days required before making a withdrawal.
- Multiple Account Management: Traders can manage up to 10 accounts simultaneously, which enhances their ability to scale operations.
- Account Balance Management: While maintaining a minimum account balance is required, this standard practice protects traders from potential market volatility and excessive risk.
- Calibrated Risk Controls: Although strict risk management rules like Daily Soft stops are in place, they are designed to safeguard investments and improve long-term trading stability.
- Emerging Firm with Fresh Perspectives: Established in 2024, NexGen brings a modern approach to prop trading, continuously evolving to meet trader needs.
- Futures Only: The prop firm only offers futures to its aspiring funded traders.
Conclusion
NexGen Futures Trader provides a structured program with valuable resources that can empower aspiring futures traders to develop their skills and potentially achieve success. By successfully navigating the Evaluation Challenge and utilizing the educational offerings, you’ll gain a strong foundation in risk management, market analysis, and trading strategies vital for futures market success.
The profit-sharing model at NexGen incentivizes strong performance, potentially accelerating your financial goals. Their focus on strict risk management ensures responsible trading practices, helping you build a sustainable trading career. The minimum balance requirement ensures you have the capital to effectively navigate the market while adhering to risk management protocols.
Before enrolling, assess your risk tolerance and financial situation to ensure NexGen’s program aligns with your goals. If you’re a highly motivated individual with a strong risk tolerance and a passion for futures trading, NexGen Futures Trader can provide the tools and support to propel you towards your financial aspirations.
