FXIFY is one of the more popular prop firms out there, with a solid 4.5 start out of 5 on Trustpilot. If you’re considering signing up and becoming a certified FXIFY trader, you want to be sure that it is a legitimate prop firm.
So, is FXIFY as good as the user reviews suggest? Is it really a top prop firm? Let’s find out. Here is our review of FXIFY:
FXIFY’s Reputation
FXIFY is known for its transparency – it provides detailed information about its evaluation process, so you know exactly what to expect when you begin your trading journey.
It has a positive track record within the trading community. Out of over 1770 users, 84% rated FXIFY 5/5 stars on Trustpilot. Users appear to praise FXIFY for:
- Compliance with industry standards
- Trustworthiness
- Fast payouts
- Good customer service
- Competitive spreads
- User-friendly platform
- Streamlined process
- Clear and precise rules
- Good trading conditions
FXIFY’s Evaluation Process
There are two key stages to the FXIFY evaluation process – evaluation and verification. You can go from 0 to a funded account in no time!
First of all, you’ll need to generate a return of 10% on your trading assessment within just 30 days. However, this is customisable – you have the option to upgrade to unlimited days if you need to. You’ll need to avoid incurring losses that exceed a maximum trailing drawdown of 6%.
When you’ve reached the 10% profit target within the set timeframe, you will be given access to a funded trading account. You’ll be a certified FXIFY trader.
You’ll need to showcase your discipline, risk management skills and technical expertise. The evaluation process appears to be straightforward, making it a great choice whether you’re a beginner or a seasoned trader.
FXIFY’s Trading Conditions
Let’s explore what it’s really like trading with FXIFY. The firm offers competitive trading conditions – for example, there are three trading platforms to choose from. You can choose between MetaTrader 4 (MT4), MetaTrader 5 (MT5) and DXTrade.
MT4 offers advanced trading features such as charting tools, automated trading options (through EAs) and technical indicators. MT5 offers more advanced features and is a great choice if you need more advanced trading tools and access to more asset classes.
You can trade a wide range of instruments, including Forex, stocks, metals, indices and many more. Make the most of flexible leverage options up to 50:1 – and a choice of pricing feeds (e.g. RAW or All-In).
FXIFY offers a user-friendly and advanced trading dashboard with performance analytics, allowing you to clearly view your progress.
Benefits of FXIFY
- The fastest payouts in the prop industry
- Bi-weekly payouts
- The opportunity to increase your profit split to 90%
- Refund policy – 100% refund if you’re not satisfied
- Responsible customer service
- Positive user feedback
- Active trading community
- Efficient customer support
Potential Considerations
Although there are many benefits, there are certain things you should consider, such as:
- Performance requirements – you’ll need to meet profit targets within certain timeframes to progress
- Risk management – you’ll need effective risk management skills to avoid exceeding the maximum drawdown limits
- Market volatility – you’ll need to be adaptable and resilient to progress
- Potential costs – be sure to read the terms and conditions to determine the evaluation fees and other potential costs associated
Conclusion
To conclude, yes – FXIFY is definitely a contender for one of the top prop trading firms. FXIFY stands out as a legitimate and reliable proprietary trading firm with a streamlined process and clear rules and regulations.
It provides opportunities for experienced traders and aspiring traders alike. With competitive trading conditions, attractive profit splits and a structured evaluation process, it’s certainly one of the best prop firms out there.
To avoid being disappointed with your FXIFY experience, be sure to review their website and read their rules beforehand. Likewise, assess the potential risks and practice your risk management techniques for ultimate success.
