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Prop Firm Challenge: Pass and Get Funded
Take a NextGen Funding prop firm challenge, prove your skill, and trade a Simulated Funded Account of up to $200,000 with up to a 90% profit split.
Join the Arena
Backed by Errante. Get 20% off with code PASS20.
In short: A prop firm challenge is a trading evaluation you pass to unlock a Simulated Funded Account. NextGen Funding offers three challenges (Standard, Rapid, and Ace); on accounts from $5,000 to $200,000, with up to a 90% profit split and payouts within 24 to 48 hours. NextGen Funding is backed by the multi regulated broker Errante.
A prop firm challenge is a structured evaluation that measures your discipline and consistency before you receive a funded account. With NextGen Funding you pick one of three challenges, follow the drawdown rules, and once you pass you trade a Simulated Funded Account with real payouts.
Every challenge runs on MetaTrader 5 in a simulated environment with real market quotes, backed by the multi regulated broker Errante. You are never funded instantly; the evaluation always comes first, and the entry fee is fully refundable with your first payout.
- $200KMax account size
- 90%Profit split up to
- 24-48hPayout processing
- ∞Unlimited days
Why take a NextGen Funding prop firm challenge
Three Challenge Types
Choose Standard, Rapid, or Ace; each with its own targets, drawdown, and fee.
Unlimited Trading Days
No time pressure on any phase. Trade the challenge at your own pace.
Balance Based Drawdown
A static drawdown set at open that never trails through your evaluation.
Up to 90% Profit Split
Once funded, keep up to 90% of the profit you generate, paid as real earnings.
Refundable Fee
Your one time evaluation fee is fully refunded with your first payout.
Fast Funding
Pass your phases, complete KYC, and claim your Simulated Funded Account.
How the prop firm challenge works
Choose Your Challenge
Pick Standard, Rapid, or Ace and a size from $5,000 to $200,000. Apply code PASS20 for 20% off.
Pass
Clear your evaluation within the drawdown rules. Standard and Rapid are two phase; Ace is a single phase.
Verify
Complete a quick KYC verification when you claim your simulated funded account.
Trade & Earn
Trade your Simulated Funded Account, keep up to 90% of the profit, then grow through the scaling plan up to $1,000,000.
Compare the three prop firm challenges
| Challenge | Phases | Profit Target | Max Drawdown | Daily Loss Limit | Min Trading Days | Profit Split |
|---|---|---|---|---|---|---|
| Standard | 2 phase | 10% then 5% | 10% | 5% | 3 | Up to 90% |
| Rapid | 2 phase | 8% then 5% | 8% | 5% | 0 | Up to 90% |
| Ace | 1 phase | 10% | 6% | 3% | 3 | Up to 90% |
Standard allows news trading in both phases and suits traders who want the widest drawdown. Rapid removes the minimum-days requirement for a faster path, and Ace is the single-phase route with the tightest limits. All three are simulated demo accounts traded in a live market environment.
Prop firm challenge sizes and fees
| Account Size | Standard & Rapid Fee (PASS20) | Ace Fee (PASS20) |
|---|---|---|
| $5,000 | $41 | $46 |
| $10,000 | $90 | $100 |
| $25,000 | $179 | $204 |
| $50,000 | $329 | $379 |
| $100,000 | $529 | $629 |
| $200,000 | $1,069 | $1,269 |
Prices shown include the PASS20 discount. The evaluation fee is fully refundable and returned with your first payout.
Frequently asked questions
What is a prop firm challenge?
A prop firm challenge is a simulated funded account you access after passing an evaluation. You first choose one of three available challenges, pass it, and then trade a simulated account funded from $5,000 up to $200,000 in a live market environment, keeping up to 90% of the profit you generate, without risking your own money beyond a refundable evaluation fee.
How do I get a prop firm challenge with NextGen Funding?
You choose one of three available challenges and complete its evaluation. Standard and Rapid are two phase, and Ace is single phase. Once you pass, you receive your prop firm challenge. You are never funded instantly; the evaluation comes first.
Which challenge should I choose?
It is your choice. Standard and Rapid are two phase evaluations, while Ace is a single phase evaluation. Each has its own drawdown limits and fee, and all three are simulated demo accounts traded in a live market environment.
Is a prop firm challenge a demo or a real account?
All accounts, including challenges and funded accounts, are simulated demo accounts traded in a live market environment with real prices and execution. The payouts you earn are real, based on your simulated performance, with a profit split up to 90%.
Do I trade the firm’s capital on a prop firm challenge?
No. Because the accounts are simulated, you do not trade the firm’s capital and there is no capital risk to you beyond the refundable evaluation fee. You prove your skill on a simulated account and earn real payouts on the profit you generate.
How much does a prop firm challenge cost?
You pay a one time evaluation fee to enter your chosen challenge. It is fully refundable, reimbursed with your first payout once you become funded.
What trading platform does NextGen Funding use?
NextGen Funding runs on MetaTrader 5 (MT5), which we license directly. Trading on MT5 is one of the advantages of NextGen Funding, the prop firm backed by Errante.
Is NextGen Funding a legit prop firm?
NextGen Funding is backed by Errante, a globally trusted multi regulated broker, and provides simulated trading accounts and educational tools in a live market environment with real payouts.
How fast are payouts on a prop firm challenge?
Payout requests are processed within 24 to 48 hours of submission, which is among the fastest in the prop trading industry.
Ready to take a prop firm challenge?
Register, pick Standard, Rapid, or Ace, and join the Arena. Apply code PASS20 for 20% off.
All accounts we provide to our clients are demo accounts with fictitious funds and any trading is in a simulated environment only.
Please note that all accounts we provide to our clients are demo accounts with fictitious funds and any trading is in a simulated environment only.
For more information, please feel free to visit our FAQ section.