Overview
FXIFY is a proprietary trading firm established in 2023, offering traders the opportunity to manage funded accounts by passing evaluation challenges. The firm provides various account types and aims to support traders in achieving financial independence through trading.
Evaluation Model
FXIFY offers multiple evaluation models:
- One-Phase Evaluation: Traders must achieve a 10% profit target within 30 days, with a 5% daily loss limit and a 6% maximum drawdown.
- Two-Phase Evaluation: Phase 1 requires a 10% profit target within 30 days; Phase 2 requires a 5% profit target within 60 days. Both phases have a 5% daily loss limit and a 10% maximum drawdown.
- Three-Phase Evaluation: Each phase requires a 5% profit target, with a 5% daily loss limit and a 5% maximum drawdown.
Traders can choose the evaluation model that best suits their trading style and experience level.
Profit Split
FXIFY offers a competitive profit split structure:
- Standard Profit Split: 75% to the trader.
- Enhanced Profit Split: Traders can opt for an add-on to increase their profit share to 90%.
This flexible structure allows traders to maximize their earnings based on their performance and chosen plan.
Payments & Withdrawals
- Payout Frequency: Bi-weekly payouts are available.
- First Payout: Traders can request their first payout after completing their first profitable trade.
- Processing Time: Payouts are processed promptly, ensuring traders receive their earnings without unnecessary delays.
Regulation & Security
- Regulated Broker Partnership: FXIFY is partnered with a regulated Forex broker, providing traders with access to secure and reliable trading platforms.
- Trader Protection: FXIFY does not hold traders liable for losses on funded accounts, eliminating personal financial risks.
Maximum Funded Capital
- Initial Funding: Up to $400,000
- Scaling Plan: Traders demonstrating consistent profitability can scale their accounts up to $4 million.
Drawdown Rules
- Daily Loss Limit: 5% of the initial balance.
- Maximum Drawdown: Varies by evaluation model:
- One-Phase: 6% trailing drawdown.
- Two-Phase: 10% maximum drawdown.
- Three-Phase: 5% maximum drawdown.
- One-Phase: 6% trailing drawdown.
Trading Platforms
- Available Platforms: MetaTrader 4 (MT4), MetaTrader 5 (MT5), and DXTrade.
- Features: Support for Expert Advisors (EAs), custom indicators, and advanced trading tools.
Scaling Plan
- Eligibility: Traders who consistently meet profit targets and adhere to risk management rules.
- Scaling Steps: Account sizes can be increased incrementally, with the potential to reach up to $4 million in funding.
Payout Process
- Initial Payout: Available after the first profitable trade.
- Subsequent Payouts: Processed bi-weekly.
- Profit Split: Up to 90%, depending on the chosen plan and performance.
Available Trading Instruments
FXIFY offers a diverse range of trading instruments:
- Forex: Major, minor, and exotic currency pairs
- Commodities: Gold, silver, oil, and more.
- Indices: Global indices like S&P 500, DAX, FTSE.
- Cryptocurrencies: Bitcoin, Ethereum, and other major cryptocurrencies.
- Stocks: Various global equities.
Account Sizes
FXIFY offers various account sizes to cater to different trader needs:
- $10,000
- $15,000
- $25,000
- $50,000
- $100,000
- $200,000
- $400,000
Fees vary depending on the chosen account size and evaluation model.
Profit Target
- One-Phase Evaluation: 10% profit target.
- Two-Phase Evaluation:
- Phase 1: 10% profit target.
- Phase 2: 5% profit target.
- Phase 1: 10% profit target.
- Three-Phase Evaluation: 5% profit target for each phase.
Rating Table
Criteria
Rating (Out of 10)
Evaluation Model
9.0
Profit Split
9.5
Payments & Withdrawals
9.0
Regulation & Security
8.5
Maximum Funded Capital
9.0
Drawdown Rules
8.5
Trading Platforms
9.0
Scaling Plan
8.5
Payout Process
9.0
Available Instruments
9.0
Account Sizes
9.0
Profit Targets
8.5
Overall Score
9.0
Final Verdict
FXIFY stands out as a reputable and flexible proprietary trading firm, offering a variety of evaluation models, competitive profit splits, and a wide range of trading instruments. With its partnership with a regulated broker, prompt payouts, and scalable funding options, FXIFY provides a supportive environment for traders aiming to grow their trading careers. Whether you’re a novice or an experienced trader, FXIFY’s tailored programs and resources make it a compelling choice in the prop trading industry.