FXIFY is a one of the popular prop firms which was established in 2023 and backed by the broker FXPIG. led by CEO Peter Brown and David Bhidey, it is based in the United Kingdom. FXIFY provides traders capital allocation up to $400,000 and with their scaling plan, traders can increase their funding up to $4,000,000. FXIFY also hosts free trading competitions and allows strategies like martingale and grid trading.

Company Information

Company Name : FXIFY

Company Legal Name and Registration No. : FXIFY™ Solutions LTD (14451720)

Company CEO : Peter Brown and David Bhidey

Company Address : New Broad Street House, 35 New Broad Street, London, United Kingdom, EC2M 1NH

Challenge Details

FXIFY offers a total of 3 types of evaluation programs with the thinking of catering to all kinds of traders, the challenges offered by FXIFY are 1-Phase Program, 2-Phase Program and 3-Phase Program.

1-Phase Program

Prices :

$10,000 : $85
$15,000 : $115
$25,000 : $199
$50,000 : $375
$100,000 : $499
$200,000 : $999
$400,000 : $1999

Rules:

Profit Target: 10%
Total Loss: 6%
Daily Loss: 5%
Profit Share: 75%, Up to 90%
Drawdown Type: Trailing
Time Limit: Unlimited
Leverage: 1:30 on Forex & Gold, 1:20 on Indices and 1:2 on Stocks & Cryptocurrencies.
Max Lot Size: No limit
Payout Frequency: 14 days
Allows Copy Trading: Yes
Min Trading Days: 5 Days

2-Phase Challenge

Prices :

$10,000 : $85
$15,000 : $115
$25,000 : $199
$50,000 : $375
$100,000 : $499
$200,000 : $999
$400,000 : $1999

Rules:

Profit Target(Phase 1): 10%
Profit Target(Phase 2): 5%
Total Loss: 10%
Daily Loss: 5%
Profit Share: 75%, Up to 90%
Drawdown Type: Static
Time Limit: Unlimited
Leverage: 1:30 on Forex & Gold, 1:20 on Indices and 1:2 on Stocks & Cryptocurrencies.
Max Lot Size: No limit
Payout Frequency: 14 days
Allows Copy Trading: Yes
Min Trading Days: 5 Days

3-Phase Challenge

Prices :

$10,000 : $59
$15,000 : $79
$25,000 : $149
$50,000 : $249
$100,000 : $399
$200,000 : $799
$400,000 : $1599

Rules:

Profit Target(Phase 1): 5%
Profit Target(Phase 2): 5%
Profit Target(Phase 3): 5%
Total Loss: 5%
Daily Loss: 5%
Profit Share: 75%, Up to 90%
Drawdown Type: Static
Time Limit: Unlimited
Leverage: 1:30 on Forex & Gold, 1:20 on Indices and 1:2 on Stocks & Cryptocurrencies.
Max Lot Size: No limit
Payout Frequency: 14 days
Allows Copy Trading: Yes
Min Trading Days: 5 Days

Scaling Plan

FXIFY offers a fairly easy and much rewarding scaling plan for their traders, To be eligible for the scaling plan, traders will only have to meet 2 conditions. Meeting these conditions will allow traders to scale their funded account up to $4,000,000.

Traders must have to make at least 10% in profit in 3 months.
In these 3 months, 2 months must be in profit.

If a trader meets these conditions then the account size will be scaled up by 25% of the initial balance. After that Everytime the trader meets the same conditions in the next 3 months, their account size will be doubled based on their first scaled up balance.

For Example :- Let’s say the trader bought a $400k challenge.

For the first 3 months - 25% of the initial balance, $400k + $100k = $500k
3 Months after that - double of $500k = $1 million
3 Months after that - double of $1 million = $2 million
3 Months after that - double of $2 million = $4 million

Spreads and News Trading Rules

Spreads

FXIFY offers raw spreads to their traders and during New York and London sessions, spreads can go as low as 0 pips on major forex and gold instruments.

News Trading Rules

FXIFY does not restrict traders from trading during a high impact news and any red folder event, but FXIFY does advise traders to manage their risk properly to avoid any slippage and losing trades due to high volatility and spreads.

Other Important Rules :-

Daily Drawdown Calculation

Daily Drawdown is calculated based on the balance at the end of the previous day. The drawdown works as an equity based drawdown as the drawdown limit can increase or decrease based on the account’s performance.

Countries Banned from Purchasing

Due to political and internal policies, these are the countries that are not allowed by FXIFY - Zimbabwe, Iran, Iraq, North Korea, Somalia, Vietnam, Burundi, Central African Republic, Ivory Coast, Liberia, Libya, Sudan, Cuba, Syria, Afghanistan, Yemen, Palestine, Myanmar, Nicaragua, Congo Republic. Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea-Bissau, Papua New Guinea, South Sudan, Vanuatu, Venezuela, Algeria, Russia, Kenya, Ghana .

Prohibited Strategies/Activities

FXIFY allows traders to use Martingale and Grid Trading which is usually prohibited in most of prop firms but there are still a list of strategies which are not allowed by FXIFY and these strategies/Activities are :

Sharing account or selling funded account
Hedging in the same account or with multiple accounts
High-Frequency Trading
Use of a Delayed Data Feed
Trading on Delayed Charts
Collusion Between Users or multiple traders buying or selling in the same direction to manipulate the market.

Payout Methods :

For payouts, FXIFY provides the option of rise to withdraw the profits.

Trading Commissions :

FXIFY uses FXPIG™’s All-In Feed in which traders have 0 commissions and with Raw feed, commissions will be $6 per lot round trip.

Tuthani Ncube

FXIFY