FXIFY
OVERVIEW
Operating out of the United Kingdom, FXIFY is relatively new in the prop trading firm market, and is co-founded by Peter Brown and David Bhidey. The availability of MT4 and MT5 platforms is a nod to mainstream preferences, and FXIFY has partnered with FXPIG as their broker. With account sizes ranging from $15,000 to $400,000, modest to significant capital allocations are offered. The firm’s offers both 1 Step and 2 Step evaluation processes. For traders choosing the 1 Step Evaluation, the goal is to reach a 10% profit target. In the case of the 2 Step Evaluation, traders face a two-tiered target and need to achieve a 10% profit in Phase 1 and a subsequent 5% in Phase 2. The maximum total drawdown ranges from 5% to 10%. Additionally, FXIFY provides access to over 300 instruments, including FX, metals, indices, and stocks. FX and Gold traders begin with a leverage of 30:1, Indices can be leveraged at a prudent 10:1, and Stocks, as well as Cryptocurrencies, are offered at 2:1. For traders with a higher risk tolerance, FXIFY provides an option to enhance leverage on FX and Gold to 50:1 at the point of checkout.
All-In:
Raw Spreads:
Traders entering the FXIFY Scaling plan must meet specific criteria during their initial three-month evaluation. A net profit target of 10% must be achieved within these three months, with at least two of the three months being profitable. Successfully meeting these criteria results in a 25% scale-up. Following the initial scale-up, subsequent scale-ups occur every three months. During each scale-up, the trader’s account balance doubles systematically. Traders can scale their accounts up to a substantial $4,000,000. For instance, if a trader starts with a $100,000 account and achieves a 10% net profit in the first 3 months, with profits in 2 of those months, their account size increases by 25% to $125,000. Subsequent scale-ups follow every 3 months, doubling the account size each time, until reaching $4,000,000 through successful trading.