FXIFY REVIEW
Contents
FXIFY is a remote proprietary trading firm where traders can undertake an assessment in order to gain access to a funded account. We have two different challenges to fit every trading style and level. A trader can take a 1 phase or 2 phase challenge with different funding levels from $25,000 up to $400,000. After successful completion of the challenge, the trader will be given access to trade capital of up to $400,000 with up to a 90/10 profit split in favour of the trader.
FXIFY Review
Are you an ambitious trader looking for a prop trading firm to take your career to the next level? With so many options available, it’s essential to carefully consider your choices before deciding. In this review, we’ll be taking a closer look at FXIFY, a prop firm that provides funding programs for traders in the forex, crypto, equities, and commodities markets. We’ll delve into the company’s funding program options, fees, tradable assets, and restrictions, so you can determine whether FXIFY is the ideal prop firm to help you achieve your trading goals.
Trading Dashboard
FXIFY’s trading dashboard is widely regarded as one of the best in the market, offering a comprehensive set of features and a user-friendly interface. What sets FXIFY apart from other prop firms is that they are not another white-label prop firm. Instead, they provide a fully customized trading experience. They have carefully designed their dashboard to meet the unique needs of their traders, ensuring a seamless and efficient trading process.
One key aspect distinguishing FXIFY is its collaboration with FXPIG, a reputable broker since 2010. FXPIG brings its expertise as a Tier 1 true STP broker to the prop firm, offering a range of essential tools and services you would typically expect from a regular broker. This collaboration allows traders on the FXIFY platform to access a top-tier trading environment while benefiting from the advantages of being part of a prop firm.
FXIFY offers two popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5). These platforms are well-known in the industry for their advanced tools and features. MT4 is a longstanding choice for forex and CFD traders, providing various technical indicators, charting tools, and automated trading options through Expert Advisors (EAs). MT5, on the other hand, offers even more advanced features and is favored by traders who require access to a broader range of asset classes. Both platforms are available to all FXIFY traders, allowing you to choose the platform that suits your needs and explore new options.
In addition to its robust features and collaboration with FXPIG, traders on the platform can participate in free monthly trading competitions. These competitions offer a chance to showcase trading skills, compete against fellow traders, and potentially win prizes. Engaging in these competitions not only adds excitement but also allows traders to test their strategies in a competitive environment, further honing their skills.
Furthermore, the FXIFY trading dashboard includes an Offers section granting exclusive discounts to the FXIFY community. These discounts are explicitly chosen for traders, providing special deals on trading-related products and services. With these discounts, traders can save costs while accessing valuable resources that enhance their trading activities. The presence of free trading competitions and exclusive closed discounts showcases FXIFY’s dedication to building a flourishing community and delivering extra benefits to its traders.
FXIFY also offers a convenient withdrawal process that caters to traders’ needs. With the Withdrawal On Demand feature, traders have the flexibility to access their profits efficiently. Unlike many other prop firms, FXIFY allows traders to request a withdrawal of profits as early as 24 hours after placing their first trade on the live account. Traders can choose the frequency of their withdrawals, with the option to make them as frequently as every two weeks. This enables traders to manage their funds according to their preferences, whether they prefer immediate withdrawals or letting their profits compound for further account growth.
About FXIFY
FXIFY is an innovative prop trading firm that allows traders to access up to $4,000,000 in trading capital. The platform aims to provide traders with the best possible trading experience, presenting real-time analytics and metrics to help them enhance their trading skills. What sets FXIFY apart from other firms is its ability to customize trading accounts to align with each trader’s individual strategies, whether they prefer an aggressive trading approach or a more flexible timeline to achieve their objectives.
FXIFY understands the challenges of trading and recognizes the importance of a supportive and transparent environment for success. They offer two evaluation programs, the 1-phase and 2-phase evaluations, tailored to accommodate traders with varying skill levels and risk tolerance. Moreover, FXIFY provides a friendly community that assists traders in navigating the complexities of the financial markets and achieving their goals.
Traders can customize their accounts with FXIFY to match their individual trading styles and preferences. This includes selecting their initial starting capital and trading platform. Moreover, FXIFY provides flexible options, such as increasing leverage, extending the evaluation period, and receiving bi-weekly payouts. These can help traders optimize their accounts and reach their full earning potential.
Funding Program Options
FXIFY offers two distinct funding evaluations for traders to choose from: the 1-phase evaluation and the 2-phase evaluation. Both evaluations are designed to assess traders’ skills and grant them access to the firm’s capital.
The 1-phase evaluation offers expedited access to a funded account. Traders complete a single assessment phase to qualify for funding, making it ideal for rapid capital growth based on meeting the trading objectives in one assessment.
Traders can customize the evaluation to align with their trading strategy, which FXIFY believes boosts their chances of success. The evaluation is designed to promote low-risk trading, increasing the probability of traders passing.
With the 1-phase evaluation, traders can compound their account balance to the subsequent level using the scaling plan, which can continue up to $4,000,000.
Conversely, the 2-phase evaluation employs a 2-step process to assess traders’ skills. With evaluation account sizes ranging from $25,000 to $400,000, traders can secure a funded account in as few as 20 days by demonstrating their trading expertise. Alternatively, they can eliminate the time limit on the assessment and proceed at their own pace.
FXIFY’s 2-phase evaluation aims to identify committed prop firm traders with the essential trading skills to thrive in this industry. If you are consistent, accurate, and demonstrate good trading risk management skills, FXIFY will reward you accordingly. After meeting the objectives in the first assessment, you will undertake a second assessment before gaining access to trading capital.
Trader fees
FXIFY offers a variety of pricing options, ranging from $175 to $1,999, depending on the initial starting capital. Traders can select their starting capital from $25,000 to $400,000, providing ample flexibility to accommodate various budgets and trading styles. The good news is that FXIFY is upfront and transparent about its pricing, eliminating concerns about hidden costs or unexpected fees. The assessment fee covers setting up and maintaining the trader’s evaluation account.
In addition to the assessment fee, traders will not be charged a reset fee if they are profitable but don’t meet their target. However, if they fail the evaluation, they can retake it with a 10% discount. This policy offers flexibility and the opportunity for improvement while maintaining a fair fee structure.
FXIFY provides traders with a profit split that starts at 75%, with the option to increase it by 15% to reach 90% by purchasing an add-on for a higher profit split at checkout. Upgrading to a higher profit split option incurs an additional charge of 20% of the regular fee.
Moreover, FXIFY gives traders the choice of bi-weekly payouts and the standard monthly payout schedule. Traders can receive their earnings more frequently by paying an extra 5% fee.
One of the great features of FXIFY’s add-ons is their ability to help you tailor your account to match your trading style and preferences perfectly. For instance, you can increase your leverage by paying an extra 25%, providing access to leverage of up to 50:1 for forex and gold trading. This increased leverage offers a broader range of opportunities to maximize your trades. Additionally, by paying a 5% fee, you can extend the evaluation period to unlimited days, allowing you to demonstrate your skills and achieve your evaluation goals at a comfortable pace. These add-ons enable you to customize your account and cater to your specific trading needs.
Challenge
Let’s delve into the specifics of the FXIFY evaluation, consisting of 1-phase and 2-phase. First, you select your initial deposit amount, ranging from $25,000 to $400,000, based on your objectives.
In the 1-phase evaluation account, the profit target is set at 10%, with a 30-day timeline to achieve it. Traders have the option to remove the time limit during checkout if desired.
A daily loss limit of 5% applies to all deposit levels to mitigate risks. Ensure you stay within this limit in a single trading day. The daily loss limit is calculated based on the previous day’s end-of-day (5 PM EST) balance.
One significant difference between the 1-phase and 2-phase evaluation is the drawdown requirements. While the 2-phase evaluation has a static drawdown limit of 10%, the 1-phase evaluation employs a trailing drawdown limit of 6%. This means that your account balance cannot drop more than 6% from its highest point after reaching a new highest balance. This rule protects your capital and prevents significant losses.
The FXIFY Evaluation requires a minimum of 5 trading days to be completed. The 1-phase evaluation sets a profit target that should be achieved within 30 trading days, but traders can remove the time limit during checkout, allowing for unlimited trading days.
During the 1-phase evaluation, the standard leverage offered is 30:1. However, traders can increase their leverage specifically for forex and gold trades to 50:1 during checkout.
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For Beginners
|
Recommended
|
For Experts
|
||||
|---|---|---|---|---|---|---|
| $15,000 | $25,000 | $50,000 | $100,000 | $200,000 | $400,000 | |
 Profit Target |
$1,500 (10%) | $2,500 (10%) | $5,000 (10%) | $10,000 (10%) | $20,000 (10%) | $40,000 (10%) |
|
Daily Loss Limit |
5% | 5% | 5% | 5% | 5% | 5% |
|
Max Trailing Drawdown |
6% | 6% | 6% | 6% | 6% | 6% |
|
Drawdown Type |
Trailing | Trailing | Trailing | Trailing | Trailing | Trailing |
|
Minimum Trading Days |
5 days | 5 days | 5 days | 5 days | 5 days | 5 days |
|
Maximum Trading Days |
30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) |
|
Profit Split |
up to 90% | up to 90% | up to 90% | up to 90% | up to 90% | up to 90% |
|
Leverage |
up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 |
|
Refundable Fee |
$99One Time Fee | $175One Time Fee | $325One Time Fee | $475One Time Fee | $999One Time Fee | $1999One Time Fee |
Now let’s discuss the 2-phase evaluation. The profit target remains at 10%, but the second phase has a reduced profit target of 5% and a maximum trading day limit of 60.
The 2-phase evaluation has a static drawdown limit of 10%. This means your account balance cannot decrease by more than 10% from its highest point, regardless of whether a new highest balance is reached. This rule provides flexibility, allowing for slightly larger declines in the account balance.
|
For Beginners
|
Recommended
|
For Experts
|
||||
|---|---|---|---|---|---|---|
| $15,000 | $25,000 | $50,000 | $100,000 | $200,000 | $400,000 | |
|
Profit Target |
$1,500 (10%) | $2,500 (10%) | $5,000 (10%) | $10,000 (10%) | $20,000 (10%) | $40,000 (10%) |
|
Profit Target |
$750 (5%) | $1,250 (5%) | $2,500 (5%) | $5,000 (5%) | $10,000 (5%) | $20,000 (5%) |
|
Daily Loss Limit |
5% | 5% | 5% | 5% | 5% | 5% |
|
Max Drawdown |
10% | 10% | 10% | 10% | 10% | 10% |
|
Drawdown Type |
Static | Static | Static | Static | Static | Static |
|
Minimum Trading Days |
5 days | 5 days | 5 days | 5 days | 5 days | 5 days |
|
Maximum Trading Days |
30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) | 30(Unlimited Available) |
|
Maximum Trading Days |
60(Unlimited Available) | 60(Unlimited Available) | 60(Unlimited Available) | 60(Unlimited Available) | 60(Unlimited Available) | 60(Unlimited Available) |
|
Profit Split |
up to 90% | up to 90% | up to 90% | up to 90% | up to 90% | up to 90% |
|
Leverage |
up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 | up to 50:1 |
|
Refundable Fee |
$99One Time Fee | $175One Time Fee | $325One Time Fee | $475One Time Fee | $999One Time Fee | $1999One Time Fee |
Once you successfully complete the evaluation, FXIFY will review your documents using Sumsub to verify your identity (KYC). Once approved, they will invite you to sign a Trader Agreement as an independent contractor. Subsequently, you’ll receive your funded account details to start trading.
FXIFY has partnered with Deel, a company handling trader agreements and profit withdrawals. After passing the evaluation, Deel will email you instructions to access and complete your Trader Agreement. Upon finishing the agreement and providing the required KYC documents, your account will be created, funded, and issued within 24-48 business hours.
Upon successfully passing both evaluation phases, you become eligible for a refund. This refund is paid out when you make your first withdrawal. You’ll receive a full refund of your purchase cost and an extra 25% as a bonus, totaling 125% of the refund.
In Conclusion
In conclusion, FXIFY is a legitimate proprietary trading firm that offers traders a chance to choose between three different funding programs: Experienced, Advanced, and Master.
It is wonderful that they offer a possibility for traders to obtain instant funding. However, the price is fairly high, but on the other hand, the profit share is far more than what is often offered by instant funding prop firms. If you want instant funding, but also want a much higher profit split, this could be a prop firm for you.
Master trader programs are actually direct funding programs that allow you to skip the evaluation period and jump directly into trading a funded account and earning weekly profit splits. There are also no time limitations, lot size restrictions, or consistency rules to follow. With master trader programs, you can earn 70% up to 90% profit splits while also being able to scale your accounts.
I would recommend FXIFY to anyone who is looking for a prop firm with straightforward trading rules. They are a relatively new proprietary trading firm that offers excellent conditions with three different funding programs to choose from that target a big pool of individuals with unique trading styles. After considering everything FXIFY has to offer, they are for sure one of the industry-leading prop firms.
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