FXIFY Review

FXIFY Ratings at a Glance

If you’re an experienced investor or trader, you might dream of making a living day trading the stock market. Unfortunately, restrictions like the Pattern Day Trader designation mean that it’s difficult to get started making significant profits without third-party funding.

In these situations, proprietary trading accounts can be an ideal solution. Proprietary trading (“prop trading” for short) is the practice of trading using corporate funds rather than your own saved capital. Prop firms employ skilled traders who seek to generate profits by taking advantage of short-term market opportunities. The profitability of prop trading directly impacts the firm's bottom line, and successful traders receive a portion of the profits that they generate. This practice allows successful traders to profit from short-term trading strategies without risking their own money.

FXIFY is a prop trading firm that provides investors hoping to get funded with the opportunity to access up to $400,000 in proprietary funds. While FXIFY’s funded trading accounts operate similarly to other prop trading firms by offering funding after an assessment period, it has a few major advantages over the competition.

• Instant Payouts on Demand:  FXIFY offers the most generous terms for its funded traders, allowing an initial payout after a funded trader’s 1st profitable trade on a funded account.  Most prop firms make their traders wait a minimum of 2-4 weeks for payouts.
• Superior Trading Conditions and Execution:  FXIFY has exclusively partnered with FXPIG (www.fxpig.com), an FX and CFD brokerage established in 2010.   By doing so, FXIFY prop traders enjoy true market access, superior trade execution, and professional customer support.  As most prop firms use the same broker, FXIFY stands out by having a unique partnership with a well-established brokerage and unique trading conditions.  
• Robust Trading Dashboard:  FXIFY offers one of the most robust and comprehensive trading dashboards for its proprietary traders.  With real-time metrics and analytics, proprietary traders at FXIFY have a wealth of insights at their fingertips.  From max daily and total drawdowns, to reviewing your best and worst trades based on numerous metrics, FXIFY’s robust dashboard gives their prop traders an edge in the market.
•  More than 300 tradable instruments: When selecting a prop trading firm, the number of tradable assets and asset types supported by the firm’s brokerage is essential. FXIFY supports more than 300 tradable assets, including forex, stocks, precious metals such as Gold and Silver, Cryptocurrency CFDs and more. This flexibility means that traders at FXIFY have more trading opportunities and can use a diverse range of trading strategies and Expert Advisors (EAs) when completing the assessment process and trading a live funded account.
•  Free Trading Tools and Resources: FXIFY, in partnership with FXPIG, offers free access to Trading Central’s tools and resources for all their clients.  Traders can take advantage of Trading Central’s Economic Calendar, Featured Ideas, and Technical Insights and more with FXIFY.
• Up to 90% profit split: FXIFY Prop traders can earn up to 90% of all profits after assessment with a 75% profit split as default.  When combined with scalable funding access up to $4 million, FXIFY provides a wealth of possibilities for traders.

As is the case with other proprietary trading firms, not everyone will qualify for funded trading with FXIFY. You must first apply for and prove that you have a viable trading strategy using a demo account before you can access a real, funded account and start seeing profits.

FXIFY offers two program options to get funded: One-Phase and Two-Phase. During the One-Phase trial program, traders must meet a 10% profit target within 30 days of opening their assessment account, with the option to upgrade to unlimited days. For example, if you choose the $25,000 account option, you must reach a profit of at least $2,500 to qualify for funding.

Traders using the One-Phase funding program must earn a profit target of at least 10% of their original demo account balance to qualify for live funding. 

More experienced investors may want to opt for Two-Phase funding assessment. As the name suggests, Two-Phase assessment account holders must meet two separate profit targets. First, they must earn 10% of their initial balance, which is the same target goal as One-Phase. Traders must meet this goal within 30 days, or can upgrade their account to unlimited days.  

Upon completing the first phase, traders must reach a second profit target of 5% of their initial account balance within 60 days, unless choosing the unlimited days option. Upon completing the second phase, traders gain access to a live, funded account.

Two-Phase program fees and account balance options are the same as One-Phase trading but include more flexibility after you complete the trial. Account holders who are funded through the Two-Phase program have more flexible conditions, including a static maximum drawdown. This benefit is in contrast to One-Phase account holders, who must manage a trailing drawdown. While Two-Phase account holders will need to undergo a longer process to get funded, their eventual live account includes fewer limitations on how they meet profit targets. 

One of the main differences between One-Phase and Two-Phase accounts is the drawdown type.

After completing the assessment period and being approved for a live account, you can begin earning real profits by trading using FXIFY’s proprietary funds. You’ll also receive access to FXIFY’s proprietary dashboard, which provides real-time analysis of a trader's trades and trading behavior. These tools and features can be beneficial for newer investors who may need a little extra assistance tracking and managing drawdown.  Newer traders and investors can also take advantage of professional trading tools and analysis from Trading Central, which is built into the dashboard solution as well as plugins for MT4. 

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

FXIFY is a strong choice for anyone considering prop trading. While you should be sure to review trading rules and restrictions on accounts before getting started, FXIFY’s flexible upgrades and options makes it easier to customize your account access to fit both your skill level and needs. 

FXIFY offers multiple routes that account holders can use to get in touch with their customer service team.  

• Email: FXIFY recommends that users email its customer service team for most general inquiries. To get in touch with FXIFY by email, send a message to support@fxify.com. You can also complete a contact request form here, and a representative will reach out to you. The company’s email inbox is monitored between the hours of 4 a.m. to 1 p.m. EST.
• Live chat: To contact FXIFY through live chat, click on the button that resembles a speech bubble in the bottom right corner of the firm’s home page. Like email, live chat is actively monitored between the hours of 4 a.m. to 1 p.m. EST.

While these live hours may not be ideal for traders located in the United States, responses from customer service professionals were accurate and timely when we reached out.   FXIFY plans to add additional staff in the US and abroad to soon provide 24/5 live customer support for its prop traders.

To get started with an FXIFY demo account, you’ll need to pay an initial assessment fee. Paying the assessment fee shows FXIFY that you’re serious about applying for and using a live account. If you successfully pass the One-Phase or Two-Phase trial period, you’ll receive the fee that you originally paid back when you request your first payout — plus a 25% bonus as a thank you.  

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

Assessment fees range between $175 and $1,999 depending on the capital access you need, with pricing increasing as funding does. While their starting account sizes may be a bit too high for new investors, this structure incentivizes only the most experienced traders to apply for high account funding levels. After having your assessment fee reimbursed, you won’t need to worry about additional fees or charges.

Another area where FXIFY wins points is in its payout structure.  FXIFY offers the fastest payout standards in the industry, offering initial payouts after a prop trader's 1st profitable live trade.  Other prop firms typically offer initial withdrawal after 2-4 weeks.  Combined with a maximum profit sharing of 90%, with standard profit sharing starting at 75%, FXIFY offers some of the most generous terms for its traders and investors.  This feature is better than many competing prop trading firms, which may offer traders payouts as low as 60% of their trading profits. 

With a focus on user interface and straightforward expectations, FXIFY offers a great user experience. Some features that make the FXIFY experience more user-friendly include the following.

• Quick, responsive customer service: FXIFY’s customer service team is available via live chat from 4 a.m. to 1 p.m. EST, and the team is quick to respond to customer inquiries. The average chat wait time is about two minutes, and we received rapid, knowledgeable assistance when we contacted a representative.   
• Advanced trading dashboard:  FXIFY offers one of the most robust and comprehensive trading dashboards for its proprietary traders.  With real-time metrics and analytics, proprietary traders at FXIFY have a wealth of insights at their fingertips. 
• Seamless withdrawal process: FXIFY’s withdrawal process is easy and straightforward, allowing you to take profits with just a few clicks. 

FXIFY vs. Competitors

As an investor, finding the right prop trading firm can be like searching for the perfect job. You’ll usually want to explore all of your options before choosing where to apply, prop trading companies charge an application fee when you apply for a demo account. 

Benzinga offers insights and reviews on the following prop trading firms. Consider continuing your search for the right match with a few of the links below. 

FXIFY is a solid choice for prop traders exploring funding options. With initial capital options ranging from $25,000 to $400,000 and the ability to scale trading power to $4 million, FXIFY offers flexible options that allow you to customize your market access to meet your current level of market expertise. FXIFY also offers two options to qualify for live trading access, allowing you to further customize your plan to your needs and skill level.

FXIFY’s trading dashboard is equally as impressive, offering traders real-time trading metrics and analysis that offer unique insights for every trader.. You have the opportunity to receive 125% of the assessment fee refunded upon requesting your first payout. With a 75% standard profit split, with options up to 90%, the most popular trading platforms (MT4 and MT5), and backed by a renowned broker with over a decade of experience, it is no wonder FXIFY is making leaps and bounds in the prop trading space.

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