UP TO 25% OFF PROP FIRM ACCOUNTS
Introduction to FXIFY
FXIFY is a proprietary trading firm headquartered in London, UK, known for its extensive range of trading evaluation programs. Founded in April 2023, FXIFY is designed for traders seeking flexible trading conditions and quick access to payouts, potentially making it an appealing choice for both new and seasoned traders.
Evaluation Structure
FXIFY provides several evaluation models catering to various trading styles and risk appetites, including:
- 1-Step Evaluation
- 2-Step Evaluation
- 3-Step Evaluation
- Instant Funding
- Lightning Evaluation
- Crypto Evaluation
Account sizes in these programs range from $5,000 up to $400,000 and can scale up to $4,000,000 based on performance and funding options.
Key Rules
FXIFY has established several key rules for its evaluation programs, which include:
- Drawdown Rules: Traders should adhere to specific drawdown limits. For example, in the 1-Phase challenge, the maximum drawdown is capped at 6%, with daily drawdown limits of 3%.
- Consistency Rule: At present, FXIFY does not specify a consistency rule.
- Restricted Strategies: Traders are prohibited from using oversized leveraged positions around major news events, described as gambling-style news trading. Additionally, traders are only allowed one profile per trader to avoid multiple accounts.
- Minimum Trading Days: FXIFY does not enforce a minimum trading day requirement.
Platforms & Instruments Supported
FXIFY provides access to various trading platforms, including:
- DXtrade
- MT5
- TradingView
Traders can engage with multiple instruments across asset classes, such as:
- Forex
- Indices
- Commodities
- Stocks
- Crypto
- Metals
Pricing & Account Sizes
FXIFY offers a range of pricing options corresponding to different account sizes as follows:
| Account Size | Price |
|---|---|
| $5,000 | $59 |
| $10,000 | $89 |
| $15,000 | $119 |
| $25,000 | $199 |
| $50,000 | $379 |
| $100,000 | $549 |
| $200,000 | $1,049 |
| $400,000 | $2,950 |
They also feature various challenging options with different fees that cater to multiple trading strategies.
Payouts
FXIFY offers an attractive profit split of 90% for its funded traders. Payout methods include:
- Bank Transfer
- Riseworks
- Crypto
While specific payout frequency details are currently unspecified, traders can expect highly flexible trading conditions and quick access to payouts from the first day of funded trading.
Who This Firm Suits
FXIFY is well-suited for traders who value flexibility, such as those comfortable with using various trading strategies, including EAs and grid trading. Traders looking for high profit-sharing percentages will also find FXIFY appealing. However, the firm may not be suitable for those in restricted countries, as FXIFY operates in 35 countries, limiting accessibility for many potential traders. Additionally, strict regulations around trading strategies may deter some individuals, particularly those engaging in high-risk trading practices.
Conclusion
In summary, FXIFY presents a comprehensive alternative for traders seeking various funding options and quick payouts. With its foundational establishment in 2023 and a wide array of supported trading instruments, FXIFY is a noteworthy contender in the proprietary trading space. However, as always, it is crucial for prospective traders to verify current terms and conditions directly with the firm. Trading involves risk, and evaluation terms can change.
