FXIFY Review 2024

FXIFY

FXIFY is a proprietary trading firm that offers skilled traders and investors who successfully complete a set of trading assessments access to proprietary funds of up to $400,000. Traders receive a profit share of up to 90% and can scale their account up to $4 million. There are two different assessment programs through which traders can become funded – the one phase program or the two-phase program – both with their own distinct terms and conditions, giving traders the flexibility to find what best suits their individual trading preferences. FXIFY’s prop accounts are available on the widely used T4 and MT5 trading platforms, through an exclusive partnership with FXPIG, a retail brokerage with a diverse range of assets established in 2010.

With FXIFY, traders have the opportunity to capitalise on commission-free trading spanning a wide array of products such as forex, precious metals (including gold and silver) and stock indices. Traders also benefit from tight spreads, unrestricted trading, and adjustable leverage options. Traders are allowed to use automated strategies and Expert Advisors (EAs), so long as these are unique strategies developed by the client.

FXIFY prop firm provides aspiring investors with the chance to secure access to propriety funds of up to $400,000. Although their funded trading accounts function in a similar way to those of other prop trading firms, delivering funding once an evaluation is completed, the firm distinguishes itself with several key advantages over its competitors.

  • Instant Payouts on Demand:  FXIFY provides very generous terms for its funded traders, offering the first payout once a trader has made their first profitable trade on their funded account. Most other firms ask traders to wait for at least two weeks and sometimes a month before a payout is made.
  • Superior Trading Conditions and Execution:  FXIFY partners exclusively with FXPIG (www.fxpig.com), an FX and CFD brokerage established in 2010. This means that FXIFY traders benefit from true market access, superior trade execution and high-quality customer support. Most other firms all use the same broker, so FXIFY sets itself apart with this exclusive partnership providing unique trading conditions.
  • Robust Trading Dashboard:  Offering a comprehensive and robust trading platform, with real-time metrics and analytics, FXIFY’s traders can readily access a wealth of insights. These encompass a range of data, from maximum daily and total drawdowns to an evaluation of your best and worst trades based on several metrics, giving traders a distinct advantage in the market.
  •  More than 300 tradable instruments: When choosing a prop trading firm, it’s crucial to consider how many tradable assets and type of assets the firm’s brokerage supports. FXIFY supports over 300 tradable assets, such as forex, stocks, precious metals and cryptocurrency CFDs, enhancing trading prospects for FXIFY’s traders and enabling them to use a variety of trading strategies and EAs during both the assessment phase and live funded account trading.
  •  Free Trading Tools and Resources: In partnership with FXPIG, FXIFY provides complimentary access to a range of tools and resources from Trading Central to all its clients. Traders can make use of Trading Central’s Economic Calendar, Featured Ideas and Technical Insights, enhancing the trading experience at FXIFY.
  • Up to 90% profit split: FXIFY’s traders can earn a profit share of up to 90% of all profits once they have completed the assessment, starting with a 75% profit share. In combination with the opportunity to scale funding access up to $4 million, FXIFY offers traders fantastic opportunities.

Like with other prop trading firms, not all traders will qualify for funded trading with FXIFY. You first need to demonstrate your trading skills and strategies using a demo account before becoming eligible for a funded account and receiving profits.

The FXIFY evaluation comprises both a one phase and a two-phase program, which we will examine in detail below. You first need to choose an account and how much funding you want, starting at $15,000 and going up to $400,000, depending on what your objectives are.

Introduction to the One Phase Program

FXIFY’s one phase program caters to traders aiming to expedite their journey towards a funded account. The program streamlines the process by featuring one sole evaluation phase that traders need to complete before they are eligible for funding. Designed to suit low-risk trading, the program increases the chance of traders successfully completing it. The model enables traders to compound their account balance to the next level with FXIFY’s scaling plan, reaching up to $4,000,000. The program’s flexibility means traders can tailor it to suit their own strategies, as the firm believes that this will enhance the likelihood of traders succeeding in the evaluation.

The profit target for the one phase program is 10%, with a 30-day window in which to achieve this. Traders who wish to remove the time constraint can do so at checkout.

All deposits have a daily loss limit of 5%, to help mitigate risks, so you need to stay within this limit in a single trading day. The daily loss limit is based on the end-of-day balance from the previous day (at 17.00 EST).

A notable distinction between the one phase and two-phase evaluations is the drawdown requirements: the two-phase evaluation has a fixed drawdown limit of 10%, whereas the one phase employs a trailing drawdown limit of 6%. This safeguards your capital, averting substantial losses, by ensuring that your account balance can’t drop more than 6% from its peak after reaching a new highest balance.

Completing the FXIFY evaluation requires a minimum of five trading days. The one phase evaluation has a profit target which needs to be met within 30 trading days, although traders who so wish can remove this time restriction at checkout, thereby allowing for unlimited trading days.

The standard leverage for the one phase evaluation is 30:1, but traders can increase their leverage specifically for gold and forex trades to 50:1 at checkout.

Pricing for the One-Phase Program

FXIFY ask for an initial assessment fee to get you started with a demo account, to demonstrate your commitment to applying for and using a live account. Once you have successfully completed either the one phase or two phase evaluation period, you will be reimbursed for the fee when you request your first payout, and receive an additional 25% bonus as a mark of gratitude.

Assessment fees start at $99 and go up to $1,999, with the price rising in line with funding. Though the firm’s starting account sizes may seem steep for new investors, the arrangement is purposefully designed to attract only highly experienced traders to apply for high account funding levels. One you have your assessment fee reimbursed, there are no further additional fees or charges.

FXIFY also excels in its payout framework, where they offer the industry’s fastest payout standards. Initial payouts are available after a trader’s first profitable live trade, whereas other prop trading firms require traders to wait two weeks to a month for their first payout. In combination with a profit share of up to 90%, with a default profit share of 75%, FXIFY provides among the most generous terms for its traders and investors in the industry, significantly outperforming many other competing prop firms.

The assessment fee that you’ll pay is proportional to the amount of trading capital that you want access to.

Introduction to the Two-Phase Program

The aim of FXIFY’s two phase program is to identify dedicated forex prop traders who demonstrate the requisite trading abilities to succeed in the industry. Emphasising traits such as consistency, accuracy and adept risk management skills, the firm recognises and rewards traders who exemplify these attributes. Traders can attain a funded account in as few as 20 days, or alternatively can opt for a more unhurried approach by removing the time constraints on the evaluation. The decision rests with you.

The profit target is 10% for the first stage but reduced to 5% for the second, and the maximum trading day limit is 60.

There is a static drawdown limit of 10% for the two-phase program, meaning your account balance cannot decrease by more than 10% from its highest point, irrespective of whether a new highest balance is attained. This principle introduces a degree of flexibility, accommodating slightly larger declines in account balance.

Pricing for the Two-Phase Program

The evaluation trading account sizes of the two-phase program start at $15,000 and go up to $400,000, with the first profit-split payouts available on demand. Traders have access to as much as $400,000 in starting capital from evaluation accounts, with the possibility of scaling up $4,000,000.

Traders who pass the evaluation will have their documents reviewed by FXIFY, who use Sumsub to verify your identity (KYC). If these are approved, you will be invited to sign a Trader Agreement as an independent contractor, after which you will be given your funded account details and can start trading.

FXIFY partners with Deel, who handle trader agreements and payouts. When you successfully complete the evaluation, Deel sends you an email detailing how to access and complete your Trader Agreement and provide the requisite KYC documents. After you have done this, your account will be made, funded and issued all within 24-48 working hours.

As with the one phase challenge, once you have completed both evaluation phases you will receive a refund of your purchase cost and an additional 25%, paid out when you make your first withdrawal.

Once you successfully complete the evaluation and qualify for a live account, you can start earning real profits using FXIFY’s proprietary funds. You will also be given access to the firm’s dashboard, which delivers instantaneous analysis of your trading activity and behaviour; tools which are particularly helpful for traders with less experience who might benefit from extra help in tracking and managing drawdown. Newer traders and investors will also benefit from a range of professional trading tools and analysis provided by Trading Central and integrated into the dashboard, as well as MT4 plugins.

FXIFY’s trading platform is exceptionally well-designed, allowing you to trade while also monitoring restrictions and rolling drawdowns to keep your account active.

Renowned throughout the industry, FXIFY’s trading dashboard offers an expansive range of features and an accessible interface. The firm distinguish themselves from its competitors with its departure from the typical white-label approach: in contrast, they deliver a completely customised trading experience. The dashboard has been meticulously developed to accommodate the distinct requirements of the firm’s traders, guaranteeing a fluid and efficient trading process.

FXIFY also sets itself apart by collaborating with FXPIG, a well-regarded Tier 1 true STP broker established in 2010. FXPIG provides a variety of useful tools and services that you would expect from a typical broker, meaning traders using the FXIFY platform have access to a first-rate trading environment at the same time as reaping the benefits of being part of a prop firm.

FXIFY offers two popular trading platforms: MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which have both gained recognition within the industry for their sophisticated tools and comprehensive features. MT4 has long been the platform of choice for CFD and forex traders, offering an array of technical indicators, charting tools and the inclusion of automated trading options facilitated by EAs. MT5 goes further, with even more advanced features, and is preferred by traders seeking access to a wider spectrum of asset classes. Both MT4 and MT5 platforms are available to all FXIFY traders, enabling you to select the platform most suitable for your requirements, thereby presenting opportunities for exploration.

Complementing FXIFY’s strong features and partnership with FXPIG, the firm presents traders with the opportunity to engage in free monthly trading competitions. There provide traders with a chance to demonstrate their trading abilities, compete with fellow traders, and potentially win prizes. Participation in these contests not only introduces an element of excitement, but also lets traders try out their strategies in a competitive arena, further refining their skills.

Moreover, the FXIFY dashboard features a dedicated “Offers” section, giving the FXIFY community exclusive discounts designed carefully for traders, offering special deals on products and services related to trading. Traders making use of these discounts can reduce their costs and simultaneously gain access to valuable resources that elevate their trading activities. These complimentary trading competitions and exclusive discounts underscore FXIFY’s commitment to cultivating a thriving trading community and providing extra advantages for its traders.

The firm also prioritises an efficient withdrawal process designed to accommodate the needs of its traders. The “Withdrawal on Demand” feature gives traders the freedom to access their profits conveniently – unlike its competitors, FXIFY lets traders withdraw profits as soon as 24 hours after placing their first trade on their live account. Traders can select how often they make withdrawals, with the opportunity to do so on a fortnightly basis. This empowers traders to manage their funds as best suits them, whether their preference is for immediate withdrawals or leaving their profits in their account for further growth.

There are several channels through with FXIFY account holders can reach the customer service team:

  • Email: FXIFY recommends that for general enquiries, clients send an email to support@fxify.com or complete a complete a contact request form here. The firm’s email is monitored from 04:00 to 13:00 EST EST.
  • Live chat: To get in touch with FXIFY through live chat, click on the button that looks like a speech bubble in the bottom right corner of the home page. As with email, the live chat is monitored from 04:00 to 13:00 EST.

Although these live hours may not be optimal for traders based in the US, responses from customer service when we initiated contact were prompt and helpful. FXIFY intends to increase its staff in the US and internationally soon to provide 24/5 live customer support for its prop traders.

With a strong emphasis on accessibility and clear expectations, FXIFY delivers an exceptional user experience. Several features contribute to the user-friendliness of the FXIFY platform:

  • Swift and responsive customer service: FXIFY’s customer support team is available via live chat from 04:00 to 13:00 EST. The team is notably prompt in addressing customer enquiries, with an average wait time for chat assistance of approximately two minutes, after which knowledgeable assistance was provided.
  • Advanced trading dashboard:  FXIFY boasts one of the most comprehensive and robust trading dashboards available, with real-time metrics and analytics equipping prop traders with an abundance of readily available insights.
  • Effortless withdrawal process: FXIFY’s withdrawal process is straightforward, meaning it takes traders just a few clicks to access their profits.

FXIFY has a strong commitment to continual advancement of its offerings remains. The firm is presently developing two compelling new features that will further advantage its traders.

FXIFY Social Copy Trading

FXIFY has a Social Copy Trading feature in development which will enable you to effortlessly replicate the trades of top performing FXIFY funded traders within your own account, simplifying the process and allowing you to benefit from others’ expertise. Traders who have a live account with FXIFY and make reliable profits can act as a strategy provider, thereby increasing earnings by aiding other traders who copy your strategy and giving you a 20% commission on your trades.

FXIFY Pre-Paid Cards

With the aim of transforming withdrawal options and processes for funded traders, FXIFY is looking at bringing in pre-paid cards available exclusively to FXIFY funded traders. This will provide fast and easy access to earnings, as traders withdraw their profits directly to their pre-paid card and use them for online and in-store purchases and cash withdrawals as they wish. The firm is in the final stages of agreements with Mastercard and plans to launch the cards between the second and third quarters of this year.

  • No consistency rules or trading restrictions
  • Unlimited trading days
  • Use of EAs permitted
  • Profit share of up to 90%
  • Backed by FXPIG, a multi-asset broker established in 2010
  • 125% refund of assessment fee upon requesting first payout
  • Comprehensive, robust trading dashboard
  • Twice weekly payouts
  • Relatively new prop firm
  • No free trial

For prop traders seeking new funding options, FXIFY stands out as a reliable choice. With starting capital options beginning at $25,000 and rising to $400,000, and the possibility of scaling of up to $4,000,000, FXIFY provides flexible options that enable traders to customise their market access to accommodate their experience levels. The firm offers two different pathways to attaining a funded account, meaning you have further freedom to tailor your plan to your requirements and skill level.

FXIFY’s trading dashboard is impressive, providing traders with real-time trading metrics and analysis that deliver distinctive insights for each trader. Particularly noteworthy is the opportunity for traders receive 125% of the assessment fee refunded when they request their first payout. A default profit share of 75%, with the possibility to increase this to 90%, the inclusion of the industry’s most popular trading platforms (MT4 and MT5) and the endorsement of a distinguished broker with more than ten years’ experience, mean it is no surprise that FXIFY is making substantial strides in the prop trading sector.

Please refer to the following pages of our website to read about similar other Prop Firms leading the industry such as: Next Step Funded Review

When trading a Funded account for our firm, you are treated as an independent contractor.  As a result, you are responsible for any and all taxes on your profit share.

At FXIFY™, traders can select Raw Spreads accounts when they are customising their account during checkout. 

Traders get to enjoy raw spreads starting from 0 pip with a $6 per lot RT commission. Spreads on popular pairs such as XAUUSD, EURUSD and USDJPY go to 0 frequently during London and New York sessions.

There are 5 possible scenarios:

  • You have an outstanding payout 
  • You breached your account 
  • You still have open trades
  • You are not in profit
  • You have not reached your payout date yet. (second payout and beyond) Please check your dashboard to check this.

For more information please contact our support team through live chat

  • Selfie: make sure you hold the ID document next to your face. 
  • Proof of address: 

Provide a valid proof of address. Documents must: include any of the following, not older than 3 month(s):

– utility bill,

– bank/credit card statement,

– tax invoice or government-issued residential statement/certificate.

We don’t accept: 

– screenshots,

– mobile phone bills,

– medical bills,

– receipts, or insurance statements.

You can use your ID document as proof of address, if it contains your full home address. But you will need to provide another ID document as your proof of identity.

  • ID: ID documents must be valid and in colour (passports must show both pages/ID cards must show front and back)
  • We cannot accept scanned/screenshot documents, all documents must be either in a live photo format.

Note: Please do not attempt to upload fake documents as this will result in the risk of losing your accounts with FXIFY™ and failure to issue new accounts.

What is an underpayment, what happens, options for having an underpayment. Important – the customer needs to contact us for wallet address instead of just sending more funds to the original wallet.

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