FXIFY is a proprietary trading firm offering traders an opportunity to manage funded accounts after completing an evaluation process. The firm provides various account options, flexible rules, and programs tailored to different prop trading styles and risk levels. Below is a detailed guide to FXIFY’s rules and offerings.
Evaluation Programs
FXIFY offers three evaluation programs designed to meet the needs of traders with varying skill levels and objectives:
- One-Phase Evaluation
- Profit Target: Achieve a 10% profit target.
- Daily Loss Limit: 3% of the account balance.
- Maximum Drawdown: 6% trailing drawdown.
- Minimum Trading Days: 5 days.
- Maximum Trading Days: Unlimited.
- Profit Split: Up to 90% with optional upgrades.
- Leverage: Up to 50:1.
- Two-Phase Evaluation
- Phase 1 Profit Target: 10% of the account balance.
- Phase 2 Profit Target: 5% of the account balance.
- Daily Loss Limit: 4% of the account balance.
- Maximum Drawdown: 10% static drawdown.
- Minimum Trading Days: 5 days per phase.
- Maximum Trading Days: Unlimited.
- Profit Split: Up to 90% with optional upgrades.
- Leverage: Up to 50:1.
- Three-Phase Evaluation
- Profit Target (Per Phase): 5% of the account balance.
- Daily Loss Limit: 5% of the account balance.
- Maximum Drawdown: 10% static drawdown.
- Minimum Trading Days: 5 days per phase.
- Maximum Trading Days: Unlimited.
- Profit Split: Up to 90% with optional upgrades.
- Leverage: Up to 50:1.
Account Sizes and Fees
Traders can choose from various account sizes ranging from $5,000 to $400,000. The evaluation fees differ depending on the selected account size and evaluation program. Smaller accounts have lower fees, making FXIFY accessible for traders with varying budgets.
Trading Platforms and Instruments
FXIFY supports multiple trading platforms, including MetaTrader 4 (MT4), MetaTrader 5 (MT5), and DXtrade. Traders can engage in markets such as forex pairs, commodities, indices, stocks, and cryptocurrencies. The firm provides two pricing models: raw spreads starting from 0.0 pips with commissions or all-in pricing with no commissions.
Trading Rules and Flexibility
FXIFY is known for its trader-friendly rules, allowing flexibility in trading strategies:
- Expert Advisors (EAs): Permitted.
- News Trading: Allowed.
- Weekend Holding: Permitted.
- No Mandatory Stop-Loss: Traders are not required to use stop-loss orders.
- No Consistency Rules: No restrictions on trading frequency or consistency.
These relaxed rules make FXIFY an attractive option for traders who prefer unrestricted trading.
Payouts and Profit Splits
Traders can earn up to 90% of their profits. The first payout is available on-demand after the trader closes their first trade on the live account, with no minimum trading days or payout amount required. Subsequent payouts can be requested as frequently as every two weeks.
Scaling Plan
FXIFY offers a scaling plan for traders who consistently perform well. Traders who achieve a 10% return within three months, with at least two profitable months, are eligible for a 25% increase in account size. This scaling plan enables traders to double their accounts every three months, potentially growing to $4 million in funding.
Add-Ons and Customization
FXIFY provides traders with the option to customize their accounts through add-ons:
- Higher Profit Split: Increase the profit split to 90%.
- Bi-Weekly Payouts: Enable payouts every two weeks.
- Performance Protect: Add extra safeguards to mitigate losses.
- Increased Leverage: Boost leverage up to 50:1 for forex and gold.
These add-ons offer flexibility, allowing traders to tailor their accounts to their needs.
Compliance and KYC
As part of its compliance with international regulations, FXIFY requires all traders to complete a Know Your Customer (KYC) process. This ensures compliance with Anti-Money Laundering (AML) laws and helps maintain a secure trading environment.
Conclusion
FXIFY provides a comprehensive trading environment that caters to a variety of trading styles and preferences. With multiple evaluation programs, relaxed rules, flexible account customization options, and a robust scaling plan, the firm offers traders the tools they need to succeed. However, traders should carefully review the specific rules and conditions of each program to ensure they align with their goals and trading strategies.