FXIFY Review
Welcome to our comprehensive FXIFY prop firm review. This is a review of FXIFY, where we will explore their evaluation programs, trading platforms and conditions, and provide an FXIFY promo code for you. Whether you’re a seasoned trader seeking fresh opportunities or a novice interested in the world of prop trading, our FXIFY review aims to give you all the necessary information to make an informed decision. Don’t forget to use the FXIFY discount code during purchase.
What is FXIFY?
Established as a proprietary trading firm, it offers traders the opportunity to access up to $400,000 in proprietary funds after passing a series of trading evaluations. What sets them apart from the crowd is its unique partnership with FXPIG, a multi-asset retail brokerage established in 2010. This partnership allows them to offer trading on MT4 and MT5, some of the most popular trading platforms in the market.
But that’s not all. They also stand out for its flexible evaluation programs and generous profit-sharing schemes, allowing traders to earn up to 90% of the profits they generate. With features like instant payouts and an easy-to-use FXIFY trading dashboard, they aim to provide a superior trading experience for its clients.
Key Features
Alright, let’s dive into some of the key features that make them a compelling choice for traders.
FXIFY Withdrawal On Demand
Unlike many prop firms that make you wait 2-4 weeks for your first payout, FXIFY allows you to cash out right after your first profitable trade on a funded account. So basically, your first FXIFY payout is on demand.
Superior Trading Conditions and Execution
They have partnered with FXPIG, a well-established and regulated Forex and CFD brokerage. This partnership means you get true market access, superior trade execution, and professional customer support.
FXIFY Dashboard
They offer a comprehensive trading dashboard that’s chock-full of real-time metrics and analytics. Whether you’re looking at max daily drawdowns or reviewing your best and worst trades, Their dashboard is a treasure trove of insights.
More Than 300 Tradable Instruments
FXIFY offers plenty of tradable instruments. With over 300 tradable assets, including forex, stocks, precious metals, and even Cryptocurrency CFDs, you’ll never run out of trading opportunities.
Free Trading Tools and Resources
In collaboration with FXPIG, FXIFY provides free access to Trading Central’s suite of tools and resources. From Economic Calendars to Technical Insights, these resources can be a game-changer for your trading strategies.
Up to 90% Profit Split
Last but certainly not least, they offer a generous profit-sharing model. The FXIFY profit split is up to 90% after the evaluation, with a starting profit split of 75%. And the ability to scale your account up to $4 million.
Types of Evaluation Programs
Before you can start raking in those profits, you’ll need to pass one of FXIFY evaluation programs. Let’s break down what each program entails.
One-Phase Evaluation
- Requirements: To qualify for this program, you’ll need to meet a 10% profit target within 30 days of opening your evaluation account.
- Profit Targets: The goal is to hit a 10% profit target within the 30-day window.
- Time Limits: You have 30 days to meet the profit target, but you can upgrade to unlimited days if needed.
Two-Phase Evaluation
- Requirements: This program also starts with a 10% profit target but adds a second phase with a 5% profit target.
- Profit Targets for Each Phase: The first phase requires a 10% profit, and the second phase requires an additional 5%.
- Time Limits: You have 30 days for the first phase and 60 days for the second phase, with an option to upgrade to unlimited days.
FXIFY Three-Phase Evaluation
FXIFY is always evolving, and in 2024, they’ve introduced an exciting new option for traders: the FXIFY Three Phase Challenge Program. This program extends the already popular Two Phase Program.
What’s New in the FXIFY 3 Phase Evaluation?
- Extended Challenge: Adds an extra phase to the existing Two-Phase Program for a more in-depth evaluation.
- Consistent Profit Targets: Each phase has a 5% profit target, making your goals clear and steady throughout.
- No Rush: You have unlimited time to meet these targets, taking off the pressure of strict deadlines.
Why Choose the FXIFY 3 Phase Evaluation?
- More Affordable: It’s cheaper than other programs but still offers all the same benefits.
- Full Access to Perks: Enjoy all the usual FXIFY advantages, including instant payouts and various add-ons.
- Flexible Account Sizes: Start with accounts from $15,000 to $400,000 and aim to scale up to $4 million.
The FXIFY Three Phase Program is perfect for traders seeking a comprehensive yet pressure-free evaluation experience at a lower cost. With consistent targets and no time limits, it’s a flexible and trader-friendly option in their suite of programs.
Comparison Between One-Phase and Two-Phase Accounts
The main difference between the two programs is the time and flexibility. The FXIFY One Phase is quicker but offers less flexibility in terms of drawdowns. Two-Phase takes longer but gives you more leeway in how you meet your profit targets.
Drawdown Types for Each Program
One-Phase comes with a trailing drawdown, while Two-Phase offers a static maximum drawdown. This could be a deciding factor depending on your trading style.
Trading Conditions
Let’s get into the nitty-gritty of what you can expect when trading with FXIFY.
Tradable Assets
FXIFY offers a wide array of trading options, from Forex and Stock Indices to Precious Metals like Gold and Silver. They even throw Cryptocurrency CFDs into the mix. With over 300 tradable assets, you’re not going to run out of opportunities any time soon.
Leverage
The platform offers customizable leverage, giving you the flexibility to trade in a way that aligns with your risk tolerance and strategy.
Spreads and Commissions
One of the standout features of FXIFY is its commission-free trading. Plus, they offer tight spreads, which can make a significant difference in your trading profitability over time.
Trading Platforms
Now, let’s talk about where all this trading magic happens.
MT4 and MT5
FXIFY is compatible with both MT4 and MT5, the most popular trading platforms in the market. This is a big plus, especially if you’re already familiar with these platforms.
Features of the Trading Dashboard
The trading dashboard on FXIFY is robust, to say the least. It offers real-time metrics and analytics, giving you a comprehensive view of your trading performance. From max daily and total drawdowns to your best and worst trades, it’s all there.
The dashboard offers a wealth of insights at your fingertips. Whether you’re a numbers geek or just someone who likes to stay informed, the real-time metrics and analytics are invaluable for making data-driven decisions.
Pros and Cons
In any review, it’s crucial to weigh the good with the not-so-good. Let’s break down the advantages and disadvantages of trading with FXIFY.
Advantages of FXIFY
- Instant Payouts: One of the most appealing features is the instant payout after your first profitable trade. This is a rarity in the prop trading world where most firms make you wait 2-4 weeks.
- Superior Trading Conditions: Thanks to their exclusive partnership with FXPIG, traders enjoy market access and top-notch trade execution.
- Robust Dashboard: Real-time metrics and analytics give traders an edge, making it easier to make informed decisions.
- Wide Range of Tradable Assets: With over 300 options including Forex, stocks, and precious metals, you won’t feel boxed in.
- Free Trading Tools: In collaboration with FXPIG, FXIFY offers free access to Trading Central’s tools and resources.
- High Profit Sharing: Earn up to 90% of the profits, which is considerably higher than what most other prop firms offer.
- Customer Service Hours: Currently, customer service is 24/7, which is very inconvenient for traders in different time zones.
Disadvantages of FXIFY
- Evaluation Fee: The minimum evaluation fee starts at $175, which might be a bit steep for newcomers.
Pricing
Evaluation Fees
The fees for the evaluation accounts range from $175 to $1,999, depending on the level of capital access you’re looking for.
Account Sizes and Corresponding Fees
The larger the account size you aim for, the higher the evaluation fee. This structure aims to attract more experienced traders for higher FXIFY funding levels.
Refund Policies
One of the perks is the 125% refund of your evaluation fee upon requesting your first payout. It’s like getting a bonus for proving your trading skills.
Is FXIFY Legit or a Scam?
When it comes to trading, especially with proprietary firms, the question of legitimacy is always at the forefront. Let’s delve into some key aspects that can help us gauge FXIFY’s credibility.
- Partnership with FXPIG: They has an exclusive partnership with FXPIG, a well-established Forex and CFD brokerage that’s been around since 2010. This adds a layer of credibility to the firm.
- Transparency: FXIFY is upfront about its terms, conditions, and fees, which is a positive indicator of its legitimacy.
User Reviews and Ratings
While this review aims to be comprehensive, it’s also beneficial to consider the experiences of other traders. User reviews generally indicate satisfaction, particularly with the trading conditions and instant payouts. The current FXIFY Trustpilot score is 4.0 with 113 reviews.
Rules and Transparency
FXIFY trading rules are clear, including the assessment criteria, profit targets, and profit-sharing percentages. This level of transparency is a strong indicator that the firm is legitimate.
FXIFY Discord
In the age of social trading and community-driven insights, FXIFY is not lagging behind. They offer a Discord channel where traders can interact, share strategies, and get real-time updates directly from the the team. You can check out their official Discord here.
FXIFY Broker
They stand out in the crowded prop trading space through its exclusive partnership with FXPIG, a reputable FX and CFD brokerage established in 2010.
Upcoming Features
FXIFY isn’t resting on its laurels; it has some exciting features in the pipeline.
Social Copy Trading
The firm plans to introduce FXIFY copy trading, allowing less experienced traders to learn from the pros.
Prepaid Card
Another feature to look forward to is the FXIFY prepaid card, which could make accessing profits even more convenient.
Conclusion
After a deep dive into FXIFY prop firm, it’s clear that they have a lot to offer for both novice and experienced traders. From instant payouts to a robust trading dashboard and a wide range of tradable assets, FXIFY seems to tick most of the boxes.
While the assessment fee might be a hurdle for some, the potential for high profit-sharing and the range of tradable assets make FXIFY worth considering.
Final Thoughts
FXIFY appears to be a legitimate and promising prop trading firm. With upcoming features like social copy trading and a prepaid card, the platform is poised for future growth. If you’re an experienced trader looking for a prop firm that offers more than just the basics, FXIFY could be a strong contender.
And there we have it—a comprehensive review of FXIFY prop firm. Whether you’re a seasoned prop trader or just starting out, it’s always crucial to do your own research and consider your options carefully. Don’t forget to use the FXIFY discount code before your purchase. Happy trading!
FAQ
What is FXIFY?
FXIFY is a proprietary trading firm that offers traders up to $400,000 in proprietary funds after they pass a series of trading assessments.
How does FXIFY’s profit-sharing work?
FXIFY offers a profit-sharing model where traders can earn up to 90% of the profits they generate.
What trading platforms does FXIFY support?
FXIFY supports MT4 and MT5, two of the most popular trading platforms in the market.
Is there an FXIFY coupon code available?
Yes, FXIFY often releases coupon codes for evaluation fee discounts. We regularly check to make sure our FXIFY coupon code is active. Keep an eye on our page for the latest FXIFY affiliate code.
How do I get started with FXIFY?
To get started, go to the FXIFY login page and purchase an account. Then you’ll need to pass either a One-Phase or Two-Phase assessment program. Upon passing the FXIFY challenge account, you will become eligible for a funded account, allowing you to engage in FXIFY scaling plan, potentially up to $4 million.
Is FXIFY legit or a scam?
FXIFY is a legitimate proprietary trading firm backed by FXPIG, a multi-asset retail brokerage established in 2010.
What are the assessment programs offered by FXIFY?
FXIFY offers two types of assessment programs: One-Phase and Two-Phase. Each has its own set of requirements, profit targets, and time limits.
What assets can I trade with FXIFY?
FXIFY offers a wide range of tradable assets including Forex, Stock Indices, Precious Metals like Gold and Silver, and more.
How can I contact FXIFY customer service?
You can contact FXIFY’s customer service via email or live chat. Their customer service hours are from 4 a.m. to 1 p.m. EST.
What are the upcoming features of FXIFY?
FXIFY plans to introduce social copy trading and a prepaid card for easier fund management.
