FXIFY Prop Firm Account Types and Differences

FXIFY prop firm account types and differences offers traders several ways to access funded accounts, making it a novel approach to prop trading. FXIFY is a well-known proprietary trading firm that provides traders with a variety of account types and cutting-edge evaluation procedures. Established in April 2023 by seasoned businessmen David Bhidey and Peter Brown, the platform offers traders a range of account setups and flexible funding options. This article will examine FXIFY prop firm account types and differences.

FXIFY Account Funding Options

With its extensive selection of account sizes, FXIFY gives traders unmatched versatility in prop trading:

Funding Ranges

• Minimum Account: $5,000 is the minimum account amount.
• Maximum Account: $400,000.
• Potential scaling up to $4,000,000

Account Variety

FXIFY sets itself apart by offering three different kinds of evaluation accounts:

One-Step Evaluation

• One challenge phase 
• 10% profit goal
• A maximum drawdown of 6%
• Daily drawdown of 3% 

Two-Step Evaluation

• Two stages of difficulty
• Phase one: a 10% profit goal
• Phase two: a goal profit of 5% 
• Maximum overall loss of 10%
• The daily loss cap is 4%. 

Three-Step Evaluation

• Three stages of difficulty
• A 5% profit target 
• 5% maximum overall loss is required for each phase.
• 5% daily cap on losses

Unique Features of FXIFY Evaluation Processes

Flexible Trading Terms

• No restrictions on the maximum number of trading days
• Each phase must have at least five calendar trading days.
• Unlimited trading time during review 
• The ability to retake the test if you don’t pass

Scaling and Profit Sharing

A compelling profit-sharing plan is provided by FXIFY:

• 75% is the initial profit share.
• Potential expansion to a 90% profit margin
• Payouts every two weeks
• First withdrawal On-demand

Technical Details

Platforms for Trading

• MetaTrader 4 (MT4)
• MetaTrader 5 (MT5)
• DXtrade

Leverage

• Leverage maximum: 1:50
• Without an add-on, leverage: 1:30

Assets Classes

• Indices 
• Forex 
• Stocks
• Metals
• Cryptocurrencies
• Gold 

Entry Requirements and Cost

Minimum Initial Investment

• As little as $99
• Refundable at a rate of 125% after the task is successfully finished

Option for Instant Funding

• Higher cost alternative
• Daily loss cap of 8%
• Maximum trailing drawdown

Benefits and Drawbacks

Benefits

• Minimal barrier to entrance
• Various kinds of accounts
• High possibility for profit-sharing
• Adaptable trading systems
• Quick biweekly payments

Drawbacks

• Tight evaluation standards
• Limited flexibility in trading methods
• Setting difficult profit goals

In conclusion

FXIFY is a novel prop trading strategy that gives traders several methods to access funded accounts. The platform accommodates traders with different levels of experience and risk tolerance by offering flexible trading conditions, competitive profit sharing, and a variety of evaluation procedures.

Prospective traders should thoroughly go over the terms of each account type, comprehending the complex requirements and possible difficulties that come with each assessment procedure. Because of the platform’s dedication to offering a variety of options, traders are guaranteed to discover an account type that complements their unique trading objectives and tactics.

Frequently Asked Questions

1. How Many Account Types Does FXIFY Offer?

FXIFY provides three different evaluation account types:

• One-Step Evaluation
• Two-Step Evaluation
• Three-Step Evaluation

2. What are the key differences between FXIFY account types?

One-Step

• Profit Target: 10%
• Maximum Loss: 6%
• Daily Loss Limit: 3%

Two-Step

• Profit Target: 10% (Phase 1), 5% (Phase 2)
• Maximum Loss: 10%
• Daily Loss Limit: 4%

Three-Step

• Profit Target: 5% (Each Phase)
• Maximum Loss: 5%
• Daily Loss Limit: 5%

3. How Does FXIFY Profit Sharing Works?

• Initial profit share: 75%
• Potential scaling up to 90%
• Bi-weekly payouts
• First withdrawal on-demand

4. Are There Any Trading Restrictions?

FXIFY allows:

• Algorithmic trading
• Martingale strategies
• Grid trading
• News trading
• Weekend positions