FXIFY is a flagship Prop Firm that has specialized in trading for many years. Just pass the phases, and get funded to trade big money.
Over the years, the firm’s been able to gain a decent trader base as. It also collaborates with the investors, and they can invest up to $400,000 in funds through trading. The account scaling limit fixed by the company is $4 million, and the splitting of profits can go up to 90% for all traders. The best part about the firm is its assessment programs for traders.
These are One phase and Two phase from which you have to decide. The perks of these assessment programs are different, and the traders get different benefits from them at the same time. In this way, both these programs provide the traders with a chance for flexible trading. The prop accounts are available on MT4 and MT5 as well.
We are going to take a look at the FXIFY REVIEW in detail and see what makes it stand apart from the rest of the trading firms.
What is FXIFY?
FXIFY is a prop firm for investors and traders so that they can trade and invest in the forex market with their capital amount. The firm requires you to have a live account if you want to use your capital for trading.
First, the firm will assess the eligibility of the traders and will see if they can trade with it or not. Also, the traders would have to demonstrate if they can professionally trade or not rely on the company’s capital for this purpose.
In this way, they will be able to acquire the company’s live-funded account for further trading. For this, you will have to select one of the two phases, which are one-phase and two-phase assessment programs; these have different account sizes, which is why you have to be aware of this beforehand.
You can scale your account up to $400k based on the account you are choosing. After acquiring the live funded account, you will not only be able to trade with this amount but also make 90% profits from this investment.
Who Should Sign Up with FXIFY Prop Firm?
FXIFY is a prop firm for veteran traders that allows them to make maximum profits through flexible trading rules and regulations.
With FXIFY, the traders get an edge to not only polish their skills but also overcome trading challenges as well.
The firm deeply scrutinizes the trading operations, and therefore, everyone gets monitored to avoid chances of fraud and scams as well.
How Does FXIFY Work?
FXIFY relies on an evaluation process that empowers traders to use their trading skills and make a decent amount of investments through this capital.
Due to this reason, the traders who are joining the FXIFY need to prove their trading skills so that they can aim for maximum profits with the help of the company.
After the completion of the evaluation process, you will be able to easily trade with the firm’s capital. For all of this, we need to understand the two assessment programs from which traders can avail easily.
This assessment program is beneficial for those traders who want to make profits faster. There is just one step in this program, which is why it is a “one-phase” assessment program. You can easily make a profit from a 0, and it will get you a chance to acquire your funded account from the company.
This system works fast and increases the chances for traders to grab a live funded account from the company. But to get this, you would have to prove your skills before the company.
The evaluation program in this regard is not risky and the traders can still make a decent amount of profits as well. When you have the funded account from the company, you can then aim for scaling it as well.
This also has some eligibility requirements that you should meet. If everything goes well, you can scale up your account up to $400,000 easily. This program can also be customized because it is flexible, so you can use it for your way of trading without any effort.
To further help you in this, the firm will also help you with coming up with a flawless trading strategy to maximize your profit. The firm will deeply analyze your interests, style of trading, and goals and will develop a viable trading strategy for you as well.
Trading Rules for Phase 1
- Profit Targets 10%
The profit target in this assessment program always remains 10%, which the traders have to acquire in a month so that they can pass the evaluation stage. The traders can also request the firm to extend the time for this purpose if they need to.
- Daily Loss Limit 5%
The day limit for this program is 5% when it comes to acquiring a funded account and going through the evaluations tage. This limit depends on the balance that traders gain on the former day, and the firm calculates this daily loss limit at 5 p.m. as well.
- Maximum Trailing Drawdown 6%
The prop firm works on a hybrid drawdown, which is 6%, which is why you need to acquire a profit of 6% with your trading amount. When you acquire the profit target, this drawdown will freeze your account balance, which means there is nothing to worry about at all.
- Minimum Trading Days
The minimum trading day in this program means the number of days that you can use to complete a challenge. The traders will get five days in this regard for successfully trading their way through the company.
- Maximum Trading Days
This is the total amount of trading days that you will get to acquire a particular profit margin in the set limit of a month. But you can also change this limit as per your trading needs and extend the limit as well.
- Profit Split
The default profit split at this firm is always 75% from which you can start trading right after opening your first-ever trade with the firm. When you will make profits, you will be able to have a share of 90% of this amount easily.
- Trading Leverage
The trading leverage in this program is 30:1 for the assessment stage; therefore, you need to know about it before proceeding further. But you can even increase your trading leverage up to 50:1 if you have a live account, and this is only for forex and gold traders.
This is the second type of assessment program which consists of two stages. You can scale up to $400k when you choose this two-phase account. This assessment program allows you to boost your balance up to $400k and then request the prop firm to scale your account.
This assessment program is basically for the expert traders who know the nitty-gritty of FX trading. They are mostly consistent, and witty and have unbeatable capability to cater to the trading risk as well. Such traders will use these skills so that they can acquire a funded account within 20 days or even less.
Trading Instruments In FXIFY
You get an edge with FXIFY in terms of using multiple trading instruments to maximize profits without any extra hustle. There are more than 300 trading instruments that you get from the company.
- Forex pairs.
- Precious metals include silver and gold.
- CFDs and much more
It is better to know that the FXIFY relies on the following trading platforms so that you can know how things work at this prop firm to aim for better collaboration with them.
The Metatrader4 platform is among the most popular trading platforms for people who are into CFDs and FX as well. It comes with different features and trading tools to add feasibility to the trading sessions of the traders. From automated trading to charting and indicators, you will receive a whole bunch of trading instruments from this platform.
The Metatrader5 is also advanced in features for successful trading and works better than Metatrader 4. It is also beneficial for veteran traders who need to polish their skills on the whole. It also proves to be effective for experienced traders who like such advanced and complex platforms to analyze the intricacies of trading perfectly. You will be amazed to use its asset classes besides the trading tools for achieving better results on all counts.
With FXIFY prof firm, you can easily withdraw your first payout within the next day when you have opened your first trade with the funded account.
You will also work with the subsequent and second every two weeks during this scenario as well.
You can either withdraw your payouts or keep them in your account to maximize them as well. The firm will increase your share of profit depending on the total amount of balance present in your account.
In this way, you can easily make 90% of your profits. The withdrawal process of FXIFY is simple, and everyone can use it with ease.
The traders always have easy access to their funds without going through hectic withdrawal processes, unlike other firms at all. The prop firm is open to using multiple withdrawal methods as well.
Is FXIFY Prop Trading Firm A Scam?
No, FXIFY is not a forfeit prop firm; instead, it is your doorway to establish yourself in the forex quite quickly.
The firm works with different account sizes so that you can collaborate with them at ease. You can select one of these and start making profits easily. When you demonstrate your skills, the company will allow you to scale up your account and increase your account balance as well.
The scaling goes up to $4 million, and the firm keeps the profit split up to 90% as well. This firm is not for the rookie; instead, veteran players are more likely to maximize their profits with this prop firm.
There have been cases when the beginners were not able to meet the eligibility criteria and successfully demonstrate their trading skills, which led them to face losses. The best part about this firm is that it infuses consistency, precision, and more thrill into your trading sessions.
My Assessment of the FXIFY
Below is the assessment that will provide you with better insights for understanding the intricacies of working with FXIFY prop firm. Also, you will be able to know why you should choose this prop firm over the others.
- Profits Split – 9/10
FXIFY prop firm gives the best possible profit share to the traders so that they can increase their profits with the help of the firm’s funded account. The default share fixed in this regard is 75%, which goes up to 90% – the maximum value of the profit share fixed by the company. Since the profit splits are high, the traders have a better chance to earn more with the company.
- Scaling Opportunities – 7/10
The prop firm gives reliable scaling opportunities to the traders so that they can boost the account balance, which goes up to $4 million for the traders.
Therefore, if a trader wants to get the scaling plan, then it is important to achieve the profit target of 6% and maintain this target consistently.
Or else it will be difficult for you to aim for scaling up as well. The major benefit of scaling your account is to not only increase your savings but also meet your financial goals successfully.
- Profits Targets – 7/10
The profit targets are beneficial for crossing the evaluation stage easily. These are for low evaluation stages and, therefore, prove to be effective for the traders as well.
You do not have to struggle much with the profit targets; instead, you only have to achieve a 10% profit target to cross the evaluation stage.
In this way, many traders can join the firm after demonstrating their skills and proving that they can work with the firm successfully.
- Affordability – 4/10
This firm is comparatively fair, and you only need $25,000 for the initial investment in the company. For this reason, it is important to know that FXIFY is affordable, which means you don’t have to worry about the initial investment at all.
However, for an account, you need $175, which can be a little problematic for some traders who are joining the company.
- Efficient Payouts and Exceptional Support: FXIFY offers a significant advantage with its quick and flexible payout system, ensuring traders receive their earnings within 24 hours of request. The firm’s strong support enhances the overall trading experience, making FXIFY a highly recommended choice.
- Poor Customer Service: FXIFY faces criticism for its inadequate customer service. According to the user’s feedback, communication is notably lacking. While initial responses inquire about assistance, the follow-up and resolution process is inconsistent.
- Profit Split
- Trading Capital
- Client Feedback
- Customer Support
A Prop firm offering up to $400,000 in funding for skilled traders that can pass multiple phases.
Up to $400,000 in funding
Complaints about Support
Still quite new to the scene