FXIFY Review: A Scam or Legit Prop Firm – Truth Exposed!

Hello, there! Today, I’m going to guide you through the FXIFY Review.

In this comprehensive review, I’ll thoroughly explore the FXIFY platform, providing valuable insights and information.

Throughout this review, we will address important aspects, such as the platform’s legitimacy, and ensuring you can confidently entrust your money or avoid potential scams.

For those seeking a legitimate program, I will delve into what this prop firm is, its operational mechanisms, and its associated joining costs.

By the end of this review, you’ll possess a wealth of essential knowledge about FXIFY, empowering you to make informed decisions regarding your involvement with the program.

Please note that I maintain complete impartiality in my assessment.

The information I present is solely derived from extensive research conducted on the FXIFY platform.

With these points in mind, let us commence…

Summary Of FXIFY Review

Product Name: FXIFY Prop Firm

Product Type: Proprietary Firm

Evaluation Fee: Starting from $175, which depends on your account size.

Official Site: https://www.fxify.com

Email: [email protected]

Date Launched: April 2023

Headquarters: London, United Kingdom

Founders: David Bhidey, Peter Brown & Robert Winters

Overall Rating: 8/10

Recommended?: Yes. Read on to learn more…

VISIT FXIFY >>

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FXIFY Review – Overview

FXIFY is one of the prop firms that claim to offer qualified traders an opportunity to trade in the forex market using their capital.

So, if you are a trader looking for a place where you can get an opportunity to start building your career in the forex trade, this might work for you.

The program promises to offer every skilled trader the required capital and customer support to succeed in the forex market.

Many account options are available for traders who trade with the FXIFY capital.

The FXIFY accounts are available in metatrader4 and metatrader5 platforms, the most popularly used platforms in the market.

The prop firm also partners with FXPIG, their trusted broker established in 2010 and has an excellent online reputation.

When you begin trading with this platform, you’ll make your withdrawals immediately after receiving your first profits.

This also includes up to a 125% refund of your challenge fee, as promised by the FXIFY company.

In addition, the company also promises you its scaling plan, which may see you increase your balance and maximize your earnings.

This scaling plan targets more profitable traders with good risk management and consistency in their trading profile.

Let’s dive into the juiciest section of this review while I urge you to keep reading!

Pros Of FXIFY Prop Firm

• Offers a profit share of up to 90%.
• Unlimited trading days.
• Provides instant payouts on demand.
• Does not have trading restrictions or consistency rules.
• Allows trading using expert advisors.
• Offers up to 125% refund on the assessment fee on your first payout.

Cons Of FXIFY Prop Firm

• The assessment fee is too expensive.
• There are fewer account size options

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Who Should Sign Up with FXIFY Prop Firm?

FXIFY is for experienced traders who want to achieve financial freedom trading in the forex market.

You must showcase your ability to trade in the forex market and achieve your goals.

This includes maintaining high accuracy, consistency, sound risk management, and focus on helping you achieve the profit targets without breaking the rules.

You can join the prop firm if you trade using expert advisors or employ automated trading strategies.

What Is FXIFY?

FXIFY is a proprietary firm that offers traders an opportunity to trade in the forex market using their capital.

You must first get their live-funded account to trade with the company’s capital.

The prop firms assess all their traders to prove their ability to trade and earn profits in the forex market.

In the assessment process, the prop firm expects traders to showcase their trading abilities to enable them to qualify for the funded account.

If you want to join the platform, choose from the two available phase challenges.

They include the one-phase and the two-phase challenges, with each of them having different account sizes.

The account sizes range from $25,000 up to $400,000 enabling you to choose from the balance that suits you.

When you get a funded account, the prop firm allows you to trade with a capital of up to $400,000 and earn a profit share of up to 90%.

 

How Does FXIFY Work?

FXIFY uses its evaluation process to allow traders to prove their ability to trade and make profits in the forex market.

For this reason, the prop firm expects traders to showcase their trading skills to enable them to achieve their profit target and get a funded account.

Upon successfully completing your evaluation, you’ll get the opportunity to trade in the forex market using the capital provided by the company.

This involves providing you with a funded account to trade with real money and earn profits.

In the evaluation process, there are two stages that you must pass to get a funded account.

Let me take you through these two phases.

One Phase

This prop firm’s first phase is suitable for traders who want to grow their capital much faster.

In this phase, the prop firm allows you to move from zero to get your funded account in just one simple step.

This makes it an excellent option for traders who want to accelerate their traders to get a funded account.

As such, you will only have to go through one evaluation process to qualify for a funded account.

The program is designed perfectly to enable traders to enjoy low-risk trading to increase their chances of passing the evaluation stage.

Once you reach the funded account stage, the program presents an exciting opportunity to expand your account balance through its scaling plan.

Upon meeting the eligibility criteria for the scaling plan, the prop firm will boost your account balance to a maximum size of $4,000,000.

You can customize your one-phase trading program to help you trade your own strategy.

To achieve overall success for all traders in passing the evaluation, the prop firm implements a strategy of enabling traders to customize their own phase.

This approach aims to cater to individual needs and maximize the chances of success for each trader.

The prop firm acknowledges that each of its traders possesses unique preferences and styles, demonstrating their understanding of this diversity among their trader base.

This makes them offer traders a tailored account option with customization focused on helping them meet their trading needs.

Account Options

Here are the available account options in the one-phase program:

• $25000 account size
• $50000 account size
• $100000 account size
• $200000 account size
• $400000 account size

Trading Rules Used In One Phase

• Profit Targets 10%

The profit target at the one phaser assessment is 10%, which you must achieve within 30 days to pass the evaluation stage.

However, the prop firm allows traders to lift their time limit in your evaluation process if they wish to do so.

• Daily Loss Limit 5%

The daily limit in one phase is set at 5% for both the evaluation stage and the funded account stage.

This limit is calculated on the balance at the end of the previous day, taken at exactly 5 p.m.

• Maximum Trailing Drawdown 6%

The prop firm has a hybrid drawdown of 6% which is valid until you reach a profit target of 6% in your trading balance.

Once you reach the set profit target, the maximum trailing drawdown locks your account balance.

• Minimum Trading Days

The minimum trading day in the one-phase program is the fewest number of days you can take to pass a challenge.

The minimum trading days in the program are set at five days.

• Maximum Trading Days

In one phase, the maximum number of days you can trade to achieve your profit target is within 30 days.

However, you can customize this time limit to allow you to trade with as many trading days as you wish.

• Profit Split

The default profit share in the prop firm is set at 75%, which you will start earning immediately after you place your first trade on the platform.

As you continue trading and make more profits, you can upgrade your share to a maximum percentage set at 90%.

• Trading Leverage

The trading leverage in the one-phase program is set at 30:1 in the assessment stage.

However, the company allows you to customize your leverage to a maximum of 50:1 for live accounts, which is valid for gold and FX.

Funded account

Upon successfully passing the one-step evaluation, you’ll get a funded account, allowing you to commence trading with the capital provided by the company.

In the funded account, no profit targets are set for you, and you withdraw your profits instantly when you start trading.

Then you’ll earn the second and subsequent profits after every two weeks of your trading.

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Two Phases

This is the second account option in the FXIFY prop firm, with a two-step assessment process.

The account sizes in the two-phase also range from $25,000 to $400,000, with their first payout offered on demand.

In the two phases, you can increase your account balance to a maximum of $400,000 and qualify for their scaling plan.

The scaling plan can grow your account balance to a maximum of $4,000,000.

In the two-phase, the prop firm targets to trade with more committed forex traders with the required trading skills.

These skills include high accuracy, consistency, and excellent trading risk management.

If you demonstrate these attributes, you can get to your funded account in as little as 20 days of your trade.

Two-Phase Program Trading Rules

• Profit Targets

The profit targets used in the two-phase assessment are set at 10%, which you must achieve within 30 days to pass step one of your evaluation stages.

However, the prop firm allows you to customize this period to your desired number of days.

In step two, the prop firm lowers the profit target to 5%, which you must pass to get a funded account.

• Daily Loss Limit 5%

The daily limit in two-phase programs is 5%, which applies to the evaluation and funded accounts.

• Maximum Drawdown of 10%

The maximum drawdown in two-phase programs is set at 10% of your starting balance which remains static for the entire life of your trading account.

• Minimum Trading Days

The minimum trading day in the two-phase is the fewest number of days you can take to pass a challenge.

This is set at five days for each step, meaning the two steps should take at least ten days.

• Maximum Trading Days

The maximum number of trading days is set at 60 days.

However, you can customize this time limit to allow you to trade with as many trading days as you wish.

• Profit Split

The default profit share in the prop firm is set at 75%, which you will start earning immediately after you place your first trade in the platform.

As you continue trading and make more profits, you can upgrade your share to a maximum percentage set at 90%.

However, the profit share is only available for traders with a live-funded account.

• Trading Leverage

The trading leverage in the two-phase program is set at 30:1, the default ratio.

However, the company allows you to customize your leverage to a maximum of 50:1 in their funded account, which is valid for gold and FX.

 

Who Are The Founders Of FXIFY?

FXIFY was founded by a group of passionate traders who shared a common interest in trading.

The founders of FXIFY are Robert Winters, David Bhidey, and Peter Brown.

They have more than 30 years of combined experience in brokerage and trading.

They have also traded with well-known trading prop firms.

Unfortunately, I couldn’t find any additional information about these individuals.

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What Is Contained In The FXIFY Dashboard?

FXIFY dashboard for affiliates contains the essential information that helps you manage your affiliate business effectively.

The dashboard allows you to get access to real-time updates on your balances and sales and perform all your withdrawal requests.

There are also posts and affiliate links in the dashboard, which you can use to share your information with social media platforms.

In addition, the dashboard is easy to use with a simple design to enable traders to easily take advantage of it to succeed in their trade.

What Is The FXIFY Trusted Broker?

FXIFY prop firm partners with FXPIG as their trusted broker in ensuring all the trading funds for their customers are safe in the forex market.

FXPIG is a CFD and FX broker established in 2010 that enables traders to enjoy good market access and superior execution of their trades.

FXPG is a well-established broker used by many prop firms in the forex industry and is of no doubt, one of the best brokers online.

In partnership with the prop firm, the broker provides you with access to their trading resources and tools that aid in improving your trading experience.

What Trading Instruments Are Allowed In FXIFY?

FXIFY offers more than three hundred tradable instruments in the forex market.

They include:

• Forex pairs.
• Precious metals include silver and gold.
• Stocks
• Indices
• Cryptocurrencies
• CFDs and much more

In addition, FXIFY prop firm uses the following platforms for trading:

Metatrader4

The Metatrader4 platform is always a popular choice for traders who have loved trading CFDs and forex for a long time.

The platform contains many advanced tools and features that simplify the trading exercise.

The features include automated trading used on EAs, charting tools, and technical indicators.

Metatrader5

The Metatrader5 platform offers traders more advanced trading features compared to Metatrader4.

This makes it a good alternative for traders who want to trade on a more advanced platform with a wider range of tools.

The platform also offers a variety of asset classes alongside trading tools, making it a great choice for experienced traders.

What Are The Benefits Of Joining FXIFY?

• Instant Payouts

FXIFY offers customers a simple and faster payout on demand with generous terms when they get their funded account.

This allows traders to request withdrawals in their funded account after making profits, even in their first trade.

For this reason, you’ll not have to wait for one or two weeks to make your first withdrawal, as in the case with other prop firms.

• Realistic Trading Conditions

FXIFY offers realistic trading conditions, good customer support, and excellent trade execution.

Most trading conditions FXIFY uses are unique and much simpler, making it more reliable for many traders.

In addition, the superior execution of trade in the platform makes you enjoy true access to the market.

• Offers A Comprehensive Trading Dashboard

FXIFY has a robust and easy-to-use dashboard, making it easier to access proprietary traders.

The prop firm contains real-time analytics and metrics, making it easier for traders to manage their trade.

The comprehensive dashboard also gives traders easy access to the trading market to increase efficiency when trading.

• Offers a profit share of up to 90%

The prop firm allows you to earn up to 90% of your trades.

However, the default profit share in the platform is 75% which will keep rising as you continue to make more profits.

Once you achieve the scalable profit target, your profits will have grown from the default percentage to an impressive 90%.

What Is the Cost of Joining the FXIFY?

The cost of joining the FXIFY prop firm depends on the account size you choose to trade within the platform.

However, the prices for the account sizes are the same for the two and one-phase programs.

For instance, when you choose to trade with a $25,000 account, you will pay a similar price on the two available phases.

Here are the prices for the account sizes available in FXIFY:

• $25,000 account size that costs $175.
• $50,000 account size that costs $325
• $100,000 account size that costs $475
• $200,000 account size that costs $999
• $400,000 account size, which costs $1,999.

All the prices indicated in the platform are one-time fees you only pay once to own the entire account.

The prop firm operates transparently, as they do not have hidden fees or require recurring payments after purchasing your account.

In addition, all the fees payable in the platform are refundable, as you will receive yours back when you make your first withdrawal.

The prop firm claims to offer traders a refund of up to 125% of their assessment fee in the program.

On the other hand, the prop firm allows you to customize your trading account rules to suit your desired conditions at an extra cost.

The cost is not included in the stated fee and is chargeable according to your request in the platform.

However, the prop firm does not offer any refund policy, especially if you have placed your first trade.

FXIFY Withdrawals

FXIFY allows you to make your first payout in the next 24 hours after placing your first trade in the program with your live-funded account.

After this, you’ll get the second and subsequent in every two weeks.

For this reason, you are free to withdraw your profits immediately after you receive them or save them to grow your account balance.

The prop firm increases your profit share when your account balance increases, allowing you to earn up to 90% of your profits.

In addition, the prop firm makes their withdrawal process easy and seamless to enable traders to have easy access to their funds.

Includes making the withdrawals much more flexible with up to 15 different payout methods accepted in the platform.

Is FXIFY Prop Firm A Scam?

In my opinion, FXIFY is not a scam; the prop firm gives you an opportunity to trade with their capital in the forex market.

The company provides you with a variety of account sizes that you can choose and use to trade and earn your profits.

When you demonstrate high profitability, the prop firm allows you to expand your account size through its scaling plan.

This enables you to increase your account balance to a maximum value of $4,000,000 and earn a profit share of up to 90%.

However, if you are not a talented trader and lack the attributes required to trade in the forex market, you’ll not benefit from joining the prop firm.

You may end up failing in their assessment process before you get to the funded account where you can earn profits.

For instance, the prop firm requires you to stay accurate, consistent, and focused in trading to succeed in its platform.

My Assessment of the FXIFY

Now, let me present my assessment of the FXIFY prop firm in comparison to its competitors within the market.

Profits Split – 9/10

FXIFY prop firm offers traders the best profit share, which enables them to maximize their earnings while trading with their live-funded account.

They have 75% s their default profit share, which increases as you increase your trade up to 90%, which is the maximum value.

These high-profit shares motivate traders to make more money and achieve financial freedom in the forex market.

Scaling Opportunities – 7/10

The prop firm offers traders a good scaling plan, which enables them to increase their account balance to a maximum value of $4,000,000.

For you to qualify for the scaling plan, you need to maintain a profit target of 6% and a consistent trade in your live account.

The scaling plan enables you to maximize your earnings and achieve your financial goals.

Profits Targets – 7/10

The profit targets that enable you to pass this prop firm’s evaluation stages are averagely low.

Like other prop firms, the FXIFY only requires you to reach a profit target of 10% to pass their evaluation challenge.

This strategy ensures a high number of traders who enroll for the evaluation challenge get the opportunity to pass the process and get a funded account.

Affordability – 4/10

As compared to other prop firms, the FXIFY is fairly affordable as their account sizes start at $25,000.

The minimum amount you can pay to own an account is $175, which can be expensive for some beginner traders.

Other prop firms such as RebelsFunding offer smaller account sizes at lower prices on the platform.

Trader Supports – 8/10

FXIFY offers their customers the best trader support, making them one of the best prop firms online.

In their professional trader support, you can ask any question related to their offers and features.

In their customer support program, the prop firm ensures every trade feels comfortable while trading.

Tradable Assets – 8/10

FXIFY offers more than 300 tradable assets in partnership with their well-established broker in the market.

The most common assets include forex pairs, stocks, CFDs, metals such as gold and silver, cryptocurrency, etc.

The many tradable instruments make traders enjoy an expanded market share when trading different assets.

Trustworthiness – 7/10

FXIFY is a trusted prop firm with an excellent rating on Trustpilot with reviews coming from their loyal traders.

In addition, the company has built a great reputation online, partnering with a well-established broker.

My Overall Rating: 8/10

In general, FXIFY prop firm is one of the leading prop firms with great reputations in the forex market.

I’m pleased to award an overall rating of 8/10 to FXIFY as one of the highly regarded prop firms in the online realm.

What Are People Saying

Here is what people say about FXIFY prop firm online:

Trust Pilot

The FXIFY prop firm has an excellent rating on the trust pilot platform.

The prop firm attracts a rating of 4.6/5 ratings with a 100% five-star rating, as shown below:

FAQs About FXIFY

For How Long Will I Wait For My Account Details After Paying For FXIFY Challenge?

The prop firm promises a quick processing of your account details which begins as soon as your payment is received.

The processing takes a few hours, after which you will receive your account details sent to your email account.

You will also receive your login credentials along with your account details on your email account.

Does FXIFY Charge Any Other Additional Fee Apart From The Assessment Cost?

The prop firm doesn’t charge any additional price or have a hidden fee.

However, the prop firm allows you to customize phase one and phase two of the evaluation process at a one-time fee.

The fee includes the challenge and verification stages with no recurring charges.

What Payment Methods Are Available In The FXIFY?

The prop firm primarily uses PayPal as its main payment method to process payouts for its affiliates.

However, many other payment methods are accepted on the platform, including direct wire and Bitcoin.

For these other options, a minimum of $100 is required to process the payout request.

Is There A Breach For Inactivity In The FXIFY?

The program’s inactivity breach may make you lose your trading account if you break.

In this breach, if you don’t place at least one trade in a period of 60 days, the prop firm will consider your account inactive.

As such, an account breach occurs, and you’ll have to purchase another account.

How Are Taxes In The FXIFY Handled?

When you get to a funded account, you become an independent contractor.

This makes you responsible for all the available taxes on your profit share set by the prop firm.