With so many prop firms out there claiming to promise the highest profits, it can be tough to determine which firms are actually trustworthy and which are scams.
FXIFY has seen a huge increase in popularity recently. It offers prop traders a platform to trade forex with minimal risk – but is FXIFY too good to be true? Let’s explore the truth about FXIFY with our comprehensive review.
An Introduction to FXIFY
FXIFY is a prop trading firm that gives aspiring traders access to the resources they need to complete trades – including, of course, capital. With FXIFY, you can earn significant profits. There are three different programs to choose from:
- 1-phase – a great choice if you’re looking to speed up your challenge phase. With this, you can go from 0 to funded in just one small step.
- 2-phase – may be the best choice if you have experience, and can display consistent discipline over two assessment stages.
- 3-phase – an ideal choice if you’re looking for lower fees and profit targets – but you must demonstrate patience and discipline throughout each phase.
Getting started is simple – you simply choose your account, tailor your account, and complete the evaluation process.
The Pros of FXIFY
This prop trading platform has plenty of benefits, whether you’re a beginner or a seasoned trader. Let’s explore some of the pros of FXIFY:
Streamlined Evaluation Process
One of the best things about FXIFY is its easy-to-follow evaluation process. If you’re looking to get started with FXIFY, the evaluation process gives you the chance to prove your capabilities. It will examine your discipline, risk management skills and technical expertise to determine whether you’re a good fit for FXIFY. You can always retake this process if you need!
Choice of Platforms
FXIFY allows you to trade with confidence through its innovative technology. You can choose between MetaTrader 4, MetaTrader 5, and DX Trade. Pick the one you are most comfortable with, or explore a new one!
Up to a 90% Profit Split
One of the main things to shout about with FXIFY is its profit splits. You can earn up to 90% of the profits when you trade with FXIFY. The standard option is a generous 70% split – however, you can maximize your earnings and upgrade to a 90/10 profit split – so when you choose this, you can receive 90% of your gains on your funded account.
Fast Payouts
FXIFY boasts the fastest payouts in the prop industry. Its bi-weekly payout system means you will access your earnings regularly – you won’t have to wait for weeks and weeks to access your hard-earned money!
The Cons of FXIFY
Although FXIFY has a range of exciting benefits, it wouldn’t be an honest review without mentioning some of its drawbacks:
Limited Flexibility in Evaluation
Although the evaluation process is streamlined, there are strict criteria – you must generate a 10% return within a certain time frame without exceeding a maximum drawdown. This can be restrictive – especially if you have a relaxed trading approach, or are a complete beginner.
Reviews
FXIFY currently has 4.5/5 stars on Trustpilot. This is impressive for a prop firm, but let’s explore some of the negative reviews. Some users complain that the challenge is too difficult to pass, whereas others complain about some of the banned trading methods. Another review mentioned that there are hidden rules.
We recommend reading the terms and conditions before beginning with FXIFY to clear up any confusion about which trading methods are allowed.
So, Is FXIFY a Scam or Legit?
In short, FXIFY is not a scam – FXIFY is a legit prop firm. It’s a great choice if you’re looking to maximize your profits and access your funds quickly. You can tailor your program to suit your needs, and even upgrade to a 90% profit split. In our opinion, the pros far outweigh the cons with this prop firm.
