Challenge Comparison Tool

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FundedCobra

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FundedNext

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	FundedCobra Get Started	FundedNext 8.5 Get Started
Overview
Asset Type	CFD	CFD
Country	Jurisdiction not disclosed	United States
Established	-	Mar 2022
Technology	Proprietary	Proprietary
Platforms	Cobra Terminal	Trading View, NinjaTrader, Tradovate, cTrader, Match Trader, MT5, MT4
Trading Rules
Profit Split	80% on Instant accounts (Cobra Venom and Premium Instant) from payout 1; up to 90% on 1-Step and 2-Step evaluations	Up to 95% Best
Daily Drawdown	4% static daily loss on Instant and 1-Step accounts; 8% static daily loss on 2-Step accounts (equity-based, fixed at 00:00 UTC)	Stellar 2-Step: 5% daily / 10% total. Stellar 1-Step: 3% daily / 6% total. Stellar Lite: 4% daily / 8% total. Stellar Instant: 6% trailing (no daily limit). Futures Flex: no daily limit, EOD trailing max loss.
Payout Frequency	Daily (Cobra Venom), Weekly (Premium Instant and 1-Step), Bi-weekly (2-Step) Payout cadence is set per account path, not firm-wide; every request is reviewed against the account's withdrawal target, drawdown status and account checks.	24 hours guaranteed (or $1,000 extra). First withdrawal after 21 days. -
Direct Path to Funded	✗ No	✗ No
Reviews & Reputation
Review Count	0 reviews	0 reviews
Avg. Rating	No ratings yet	No ratings yet
Pros & Cons
Main Benefits	No consistency rule on any account path. Static (non-trailing) drawdown measured from the starting balance. Daily payout requests on Cobra Venom accounts. Martingale, grid, news trading, weekend holding and partial closes are all explicitly permitted. Entry from a $14 one-time fee. Every rule that can breach an account is published on a single rules page.	Up to 95% profit split, Match-Trader + Tradovate/NinjaTrader platforms, CFDs + Futures, 15% profit sharing from day 1, scaling up to $4M
Main Drawbacks	Expert Advisors and automated trading are prohibited; trading must be placed manually and copy trading is reviewed before payout. On accounts opened from 20 August 2026 hedging the same instrument is prohibited and open trades losing more than 1.5% of the account at once breach it. A single trade counts toward at most 60% of the withdrawal target, so profit above that cap is removed at close. The firm publishes no legal entity, registered address or jurisdiction anywhere on its site. The TrustPilot profile is unclaimed and carries payout-denial complaints alongside its positive reviews.	Payouts sometimes a bit slow
Offers & Promo Codes
Active Offers	No offers	30% off first challenge 30% off challenge 25% off all Stellar plans ($2K-$50K), new users only. Code NEW25. Verified live on fundednext.com 2026-06-11.

Challenge Details

FundedCobra Challenges

20 challenges

Price	Account Size	Step	Profit Target	Max Daily Loss	Max Drawdown	Profit Split	Activation Fee
$24 $14	$0.5K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$47 $28	$1.25K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$36 $32	$5K	2 Steps	P1: 10% phase 1 target P2: 5% phase 2 target	P1: 8% static daily loss (equity-based) P2: 8% static daily loss (equity-based)	P1: 12% maximum loss (static, equity-based) P2: 12% maximum loss (static, equity-based)	Up to 90%	None
$42 $38	$5K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$65 $59	$10K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$105 $63	$3.5K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$139 $83	$5K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$129 $116	$25K	2 Steps	P1: 10% phase 1 target P2: 5% phase 2 target	P1: 8% static daily loss (equity-based) P2: 8% static daily loss (equity-based)	P1: 12% maximum loss (static, equity-based) P2: 12% maximum loss (static, equity-based)	Up to 90%	None
$137 $123	$25K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$235 $141	$9K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$195 $176	$50K	2 Steps	P1: 10% phase 1 target P2: 5% phase 2 target	P1: 8% static daily loss (equity-based) P2: 8% static daily loss (equity-based)	P1: 12% maximum loss (static, equity-based) P2: 12% maximum loss (static, equity-based)	Up to 90%	None
$229 $183.2	$10K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$232 $209	$50K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$325 $293	$100K	2 Steps	P1: 10% phase 1 target P2: 5% phase 2 target	P1: 8% static daily loss (equity-based) P2: 8% static daily loss (equity-based)	P1: 12% maximum loss (static, equity-based) P2: 12% maximum loss (static, equity-based)	Up to 90%	None
$367 $330	$100K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$599 $479.2	$25K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$594 $535	$200K	2 Steps	P1: 10% phase 1 target P2: 5% phase 2 target	P1: 8% static daily loss (equity-based) P2: 8% static daily loss (equity-based)	P1: 12% maximum loss (static, equity-based) P2: 12% maximum loss (static, equity-based)	Up to 90%	None
$659 $593	$200K	1 Step	P1: 10% evaluation target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	Up to 90%	None
$799 $639.2	$50K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None
$999 $799.2	$100K	Instant	P1: 5% withdrawal target	P1: 4% static daily loss (equity-based)	P1: 6% maximum loss (static, equity-based)	80%	None

FundedNext Challenges

25 challenges

Price	Account Size	Step	Profit Target	Max Daily Loss	Max Drawdown	Profit Split	Activation Fee
$32.99 $24.74	$5K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$49.99 $37.49	$6K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$55.99 $41.99	$6K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None
$59.99 $44.99	$10K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$59.99 $44.99	$2K	Instant	P1: -	P1: - None	P1: 6% Trailing	Up to 80%	None
$133.99 $69.99	$50K	1 Step	P1: $2,500	P1: - None	P1: $1,500 EOD Trailing	80%	None
$109.99 $82.49	$15K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$119.99 $89.99	$15K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None
$139.99 $104.99	$25K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$149.99 $112.49	$5K	Instant	P1: -	P1: - None	P1: 6% Trailing	Up to 80%	None
$249.99 $129.99	$100K	1 Step	P1: $5,000	P1: - None	P1: $2,500 EOD Trailing	80%	None
$189.99 $142.49	$25K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$199.99 $149.99	$25K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None
$229.99 $172.49	$50K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$269.99 $202.49	$50K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$299.99 $224.99	$10K	Instant	P1: -	P1: - None	P1: 6% Trailing	Up to 80%	None
$309.99 $232.49	$50K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None
$483.99 $249.99	$150K	1 Step	P1: $8,000	P1: - None	P1: $4,000 EOD Trailing	80%	None
$399.99	$100K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$599.99 $449.99	$20K	Instant	P1: -	P1: - None	P1: 6% Trailing	Up to 80%	None
$529.99	$100K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$549.99	$100K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None
$798.99	$200K	2 Steps	P1: 8% P2: 4%	P1: 4% P2: 4%	P1: 8% Static P2: 8% Static	Up to 95%	None
$1049.99	$200K	2 Steps	P1: 8% P2: 5%	P1: 5% P2: 5%	P1: 10% Static P2: 10% Static	Up to 95%	None
$1049.99	$200K	1 Step	P1: 10%	P1: 3%	P1: 6% Static	Up to 95%	None

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