If you’re a trader looking for a prop firm to help fund your trading account, you may have come across FXIFY. In this review, we’ll take a closer look at what FXIFY has to offer and whether it’s the right choice for you.
FXIFY is a remote proprietary trading firm that offers two different challenges to fit every trading style and level. Traders can take a 1 phase or 2 phase challenge with different funding levels from $25,000 up to $400,000. After successfully completing the challenge, traders can gain access to a funded account and become independent contractors of FXIFY Solutions Limited.
So, what makes FXIFY stand out from other prop firms? In this review, we’ll dive into the details of the experience of trading with FXIFY, the benefits of joining a prop firm, and whether FXIFY is the right choice for you as a trader.
Account Overview
If you’re interested in becoming a funded prop trader, then FXIFY might be the right platform for you. FXIFY offers two phases of assessment, which are designed for traders with consistent discipline. The first assessment requires you to generate a return of at least 10% on your trading account within 30 days without incurring losses that exceed a maximum trailing drawdown of 6%. Once you’ve reached your profit target, you’ll be given access to funded trading capital.
FXIFY offers two types of accounts: 1 phase and 2 phase. The 1 phase account is suitable for beginners, while the 2 phase account is recommended for experts. The account details can be customized to suit your trading strategy.
Once you’ve opened an account with FXIFY, you’ll be given access to your dashboard. From your dashboard, you can manage your account, view your account details, and monitor your performance in real time. FXIFY has risk management software that is synced with the accounts they create, which allows them to analyze your performance for achievements in real-time.
If you don’t place a trade at least once every 60 days on your account, FXIFY will consider you inactive, and your account will be closed. To avoid this, make sure to place trades regularly.
Overall, FXIFY offers a straightforward and transparent process for becoming a funded prop trader. With their two-phase assessment and customizable account details, you can tailor your trading experience to your needs.
Trading Experience and Conditions
When it comes to trading experience, FXIFY offers a seamless and user-friendly platform that allows you to trade with ease. Their MT4 trading platform is available for download and provides access to a world of forex opportunities. With the platform, you can execute trades, monitor your positions, and analyze the markets in real time.
FXIFY also offers two different challenges to fit every trading style and level. You can take a 1 phase or 2 phase challenge with different funding levels from $25,000 up to $400,000. Once you pass the assessment, you will gain access to a funded account and can start trading with real capital.
In terms of trading conditions, FXIFY provides competitive spreads and low commissions. The spreads for major currency pairs start from as low as 0.2 pips, which is ideal for scalpers and day traders. Additionally, you can trade a variety of instruments, including forex, commodities, indices, and cryptocurrencies.
To ensure trading success, FXIFY has established clear trading rules and guidelines. You can browse through their FAQs to understand their guidelines and trade with confidence. They also offer educational resources and trading strategies to help you improve your trading skills and develop a winning strategy.
Overall, FXIFY provides a reliable and transparent trading environment that caters to traders of all levels. Whether you are a beginner or an experienced trader, you can benefit from their platform, funding programs, and trading conditions.
Customer Service and Support
FXIFY offers exceptional customer service and support to its clients. The company has a dedicated support team that is available to assist you with any inquiries, assistance, and guidance in your forex trading endeavors. You can reach out to them through the Support Portal or Live Chat on the website.
The response time for customer inquiries is fast and efficient, and the support team is knowledgeable and professional. They are always ready to help you with any questions or concerns you may have about the trading platform, the trading process, or any other aspect of forex trading.
FXIFY’s customer support is available 24/7, which means that you can get help whenever you need it. The company values its clients and strives to provide the best possible service to ensure that they have a seamless and successful trading experience.
In addition to customer service and support, FXIFY also offers a comprehensive FAQ section on its website. The section provides valuable insights and solutions to your trading questions, making it easier for you to navigate the trading process and make informed decisions.
Overall, FXIFY’s customer service and support are top-notch, and the company is committed to providing its clients with the best possible service. Whether you need assistance with your trading account, have questions about the trading process, or need help with anything else related to forex trading, you can rely on FXIFY’s support team to provide you with prompt and professional assistance.
Challenge and Live Account Details
When you sign up with FXIFY, you will be given the opportunity to take on a challenge account. This is a simulated account that will allow you to demonstrate your trading skills without risking any of your own capital. The challenge account is designed to test your trading abilities and to ensure that you are ready to take on the responsibility of trading with a funded account.
Once you have successfully passed the challenge account, you will be provided with a live account. This is a funded account that will allow you to trade with real money. The live account is designed to give you the opportunity to earn profits by trading with FXIFY’s capital.
It is important to note that the live account is subject to certain rules and restrictions. These rules are in place to protect both you and FXIFY from unnecessary risk. If you breach any of these rules, your account may be invalidated, and you may forfeit your initial fee.
When you sign up for a challenge account, you will be given a choice of initial starting capital. This is the amount of money that you will start within your assessment phase, and it will also be the same initial starting balance for the live account. The initial starting capital will determine the level of risk that you are taking on and the potential rewards that you can earn.
FXIFY’s risk management software is synced with the accounts that it creates. This allows FXIFY to analyze your performance in real time to achieve the best results. You will receive your FXIFY account details via email, and your login credentials to the trading platform can be found directly in your member dashboard.
In conclusion, taking on a challenge account with FXIFY can be an excellent way to test your trading skills and earn the opportunity to trade with real money. If you are ready to take on the challenge, sign up today and start your journey towards becoming a successful trader.
Withdrawal System and Payouts
FXIFY offers a secure and efficient withdrawal system that allows traders to request a withdrawal of profits in their trader dashboard. The first withdrawal can be requested on demand 24 hours after placing your first trade. After that, withdrawals are processed Monday through Friday, 9 AM to 9 PM GMT.
When you request a withdrawal, your account will be locked until the withdrawal is approved. Once approved, FXIFY will withdraw their share of the profits, and the max drawdown will lock in at your starting balance for 1 phase of live accounts after receiving the payout. For example, if you have taken an account from $100,000 to $120,000 and request a withdrawal of $10,000, your max drawdown will lock in at your starting balance ($100,000), leaving you with a buffer of $10,000 until you hit your max drawdown.
FXIFY’s bi-weekly payout system ensures that you receive your earnings on a regular basis without having to wait for long periods. The withdrawal process is hassle-free and efficient, allowing you to maximize your profits and focus on your trading strategies.
Overall, FXIFY’s withdrawal system and payouts are reliable and efficient, providing traders with fast and secure withdrawals and regular payouts.
Trustworthiness and Transparency
When it comes to choosing a trading platform, trustworthiness and transparency are two key factors to consider. FXIFY has built a reputation as a reliable and trustworthy platform for traders of all levels.
One of the ways that FXIFY demonstrates its commitment to transparency is through its trading rules. These rules are clearly outlined on the platform’s website, and they are designed to ensure that all traders are treated fairly. For example, if you do not place a trade at least once every 60 days on your account, FXIFY considers you inactive, and your account will be reviewed. This helps to prevent inactive accounts from tying up resources that could be used by active traders.
FXIFY also offers a comprehensive FAQ section on its website, which covers a wide range of topics related to trading on the platform. This section can be a valuable resource for traders who are new to the platform or who have questions about specific aspects of trading.
Overall, FXIFY is a trustworthy and transparent platform that provides traders with the tools and resources they need to succeed. Whether you are a beginner or an experienced trader, you can feel confident that you are trading on a platform that values transparency and fairness.
Affiliates and Partnerships
If you are interested in earning commissions through the FXIFY Affiliate Program, you can become an affiliate partner. By partnering with FXIFY, you can earn a 20% affiliate commission on all initial accounts. You can refer friends, family, co-workers, and your trading network to unlock the potential of our Affiliate Program.
FXIFY has a competitive Affiliate Sales program in the proprietary trading industry, offering a great opportunity for those who want to help their network gain access to trading capital and earn a healthy commission. FXIFY’s pricing model is designed to cater to everyone’s needs, with base accounts starting at just $175 and the $400,000 account priced at $1,999. Our affiliate partners can earn up to $400 for a single transaction. Additionally, there are highly popular account upgrades available, which result in higher purchase prices and, therefore, higher commissions for affiliates.
If you are interested in collaborating and growing together with FXIFY, you can join the FXIFY Partner Program. By becoming a partner, you can earn up to 20% commissions when users create an account with your affiliate link. Joining the FXIFY Partner Program unlocks new opportunities in forex, rewards, access to resources, and the growth of your network.
FXPIG is also a partner of FXIFY. FXPIG is a well-known forex broker that provides a range of trading services to its clients. FXPIG is an excellent partner for FXIFY as it has a strong reputation in the industry and offers top-notch customer service. By partnering with FXPIG, FXIFY can offer its clients access to a wider range of trading services, including forex, commodities, and indices.
In conclusion, if you are interested in earning commissions and collaborating with a reputable forex broker, FXIFY’s Affiliate Program and Partner Program are excellent options. By becoming an affiliate partner or a partner, you can unlock new opportunities in forex and grow your network while earning commissions.
Risk Management and Restrictions
At FXIFY, risk management is a top priority. The company has strict rules in place to ensure that traders maintain a responsible approach to trading. They understand that trading can be risky, and they want to make sure that their traders are aware of the risks involved.
One of the ways that FXIFY manages risk is through its daily loss limit. This limit is calculated based on the previous day’s end-of-day balance. If your equity falls below this limit, your account will be suspended until the next trading day. This rule helps to prevent traders from losing more money than they can afford to.
Another way that FXIFY manages risk is through its restrictions on trading. They have specific rules in place that govern the types of trades that you can make. For example, you cannot trade on weekends or holidays. This rule helps to prevent traders from making impulsive trades when the markets are closed.
FXIFY also has restrictions on the amount of leverage that you can use. This helps to prevent traders from taking on too much risk. They also have rules in place to prevent traders from opening too many positions at once.
In addition to these restrictions, FXIFY also has strict rules in place for drawdown. If your account experiences a drawdown of more than 10%, your account will be suspended until the next trading day. This helps to prevent traders from losing more money than they can afford to.
Overall, FXIFY’s risk management and restrictions are designed to help traders maintain a responsible approach to trading. They understand the risks involved in trading and want to make sure that their traders are aware of these risks. By following these rules, traders can trade with confidence and minimize their risk of losing money.
Competitive Analysis
When it comes to choosing a prop trading firm, it’s important to consider the competition and compare the offerings of different firms. In this section, we’ll take a look at how FXIFY stacks up against its competitors in terms of its trading account competitions, funded trading accounts, and overall trading program.
Competitions
FXIFY offers regular trading account competitions with substantial prize pools, including the upcoming November 2023 $1M Challenge Account Competition. These competitions are a great opportunity for traders to showcase their skills and earn significant rewards. However, it’s important to note that other prop trading firms may offer similar competition as well.
Funded Trading Accounts
FXIFY’s two-phase program allows traders to access trading capital after successfully completing two assessments. While the program offers a range of account sizes and funding options, it’s important to compare these offerings to other prop trading firms to ensure that you’re getting the best deal.
Overall Trading Program
FXIFY’s trading program is designed for both beginners and experts, with different funding options available depending on your level of experience. As a certified trader with FXIFY, you can earn up to 90% of your profits and potentially access increased trading capital. However, it’s important to compare this program to other trading programs to ensure that it’s the right fit for your needs.
Overall, FXIFY offers a competitive trading program with a range of funding options and regular trading account competitions. However, it’s important to compare these offerings to other prop trading firms to ensure that you’re getting the best deal for your trading needs.
Additional Services and Features
FXIFY offers a range of additional services and features to help traders succeed in the forex market. Some of these services include:
- Discord Community: FXIFY has a Discord community where traders can connect with each other and share trading strategies and insights. This community is a great resource for traders who want to learn from others and stay up-to-date with the latest market trends.
- One-Step Funded Program: FXIFY’s One-Step Funded Program is designed for traders who want to trade with real money but don’t have the capital to do so. This program allows traders to get funded with up to $100,000 in trading capital, with the potential to earn up to 90% of their profits.
- Less Than 24-hour Payout: FXIFY is known for its fast payment processing, with most payouts processed in less than 24 hours. This means that traders can quickly access their profits and reinvest them in their trading strategies.
- NY Session Trading: FXIFY offers NY Session Trading, which is a trading session that focuses on the New York market. This session is ideal for traders who want to take advantage of the high volatility and liquidity of the New York market.
- Professional Staff Team: FXIFY has a team of experienced and professional staff members who are dedicated to helping traders succeed. The team is available to answer any questions and provide support to traders whenever they need it.
- CEO with Outstanding Track Record: FXIFY’s CEO has an outstanding track record in the forex industry, with over ten years of experience as a trader and fund manager. His expertise and knowledge are reflected in the quality of FXIFY’s services and solutions.
- Shutdown Lose Limit: FXIFY has a shutdown loss limit, which is a feature that automatically stops trading when a trader reaches a certain loss limit. This feature helps traders manage their risk and avoid significant losses.
Overall, FXIFY is one of the fastest-growing forex trading platforms in the industry, known for its professionalism, helpful services, and ultra-fast payment processing. With its range of additional services and features, traders can access the tools and resources they need to succeed in the forex market.
Pricing and Fees
When it comes to pricing and fees, FXIFY offers a transparent and straightforward approach. There are no commissions on FX, metals, crypto, and indices trades. However, stocks have a 0.35% commission.
To access the funded trading accounts, traders must first pass the two-phase evaluation program. The cost of the evaluation program varies depending on the trader’s level of expertise. For beginners, the cost is $15,000, and for experts, it is $25,000. This fee serves as a commitment to treat the account with the utmost care and responsibility. It also shows that the trader has something at stake, which can help with psychological motivation.
FXIFY does not charge any additional or hidden fees. The assessment fee covers the challenge and verification process, and there are no recurring fees. Once a trader succeeds in the assessment process, they will receive a funded trading account ranging from $25,000 to $400,000. The first profit-split payouts are available on demand, and traders can scale up to $4,000,000.
In summary, FXIFY’s pricing and fees are transparent and fair. The assessment fee serves as a commitment and motivation for traders, and there are no hidden or recurring fees. The funded trading accounts offer a range of starting capital, and profit-split payouts are available on demand.
Proprietary Trading Program
If you’re a skilled trader looking for an opportunity to access trading capital, then FXIFY’s proprietary trading program might be just what you need. With two different challenges to fit every trading style and level, you can take either a one-phase or two-phase challenge with different funding levels ranging from $25,000 up to $400,000.
The program is built for traders with consistent discipline, and after reaching the objectives in the first assessment, a second assessment will then be undertaken before accessing trading capital. The profit target on the one-phase assessment is set at 10%, and the timeline to achieve this is 30 days.
FXIFY’s proprietary trading program is designed to help traders take their trading to the next level and embark on their journey to become funded prop traders. You can choose between a one-phase and two-phase account and customize it to suit your trading strategy.
One of the benefits of joining a proprietary trading firm like FXIFY is that you can access expert advisors and other resources to help you improve your trading skills. You can also benefit from the profit split, which means that you get to keep a percentage of the profits you make while trading with the firm’s capital.
Overall, FXIFY’s proprietary trading program is a great opportunity for skilled traders who are looking for a way to access trading capital and take their trading to the next level. With different funding levels and challenges to choose from, you can customize the program to fit your trading style and level of experience.
Conclusion
In conclusion, FXIFY is a trusted and user-friendly remote proprietary trading firm that can help you enhance your trading skills and embark on your trading journey to become a funded prop trader. With two different challenges to fit every trading style and level, you can take a 1 phase or 2 phase challenge with different funding levels from $25,000 up to $400,000.
FXIFY offers low spreads and affordable trading fees, making it an attractive option for traders looking to maximize their profits. The comprehensive FAQs section provides valuable insights and solutions to your trading questions, making it easy to navigate the platform and get started with your trading journey.
Overall, if you’re looking for a reliable and trustworthy prop trading firm, FXIFY is a great option to consider. With a user-friendly platform, affordable trading fees, and comprehensive support, you can start your trading journey with confidence and knowledge.