Want to see if the FXIFY challenge is worth your time? Then this is the right place for you.

This guide will help you understand the rules and requirements of the FXIFY challenge and determine if it’s worth your money.

FXIFY Challenge Programs: Rules and Requirements 

FXIFY prop firm homepage

It is a proprietary trading company that provides skilled traders and investors with the chance to access up to $400,000 in private funds following a set of demanding trading evaluations. Traders can increase their accounts to $4 million and receive profit-sharing splits of up to 90%. 

FXIFY provides two assessment program choices: One-Phase and Two-Phase series, each with unique terms and conditions to offer traders further flexibility suited to their own trading needs. 

StepCostPlatformsProfit TargetDaily LossMax DrawdownMax Trailing DrawdownMinimum Trading DaysRefundable Fee
1$99.00Metatrader 4/510%5%10%Yes
2$99.00Metatrader 4/510%6%5Yes

The tables detail the two phases required for funding, including expenses, platform compatibility, profit targets, daily loss limits, maximum drawdowns, maximum trailing drawdowns, minimum trading days, refundable fees, and instructions for the process.

FXIFY’s exclusive accounts can be accessed via the industry-leading trading platforms MT4 and MT5, made possible by a special collaboration with FXPIG, a well-established retail brokerage offering various assets since 2010.

Traders utilizing it can take advantage of commission-free trading on a wide variety of products, such as Forex, Stock Indices, Precious Metals like Gold and Silver, and others. Traders can benefit from narrow spreads and trade freely, along with the ability to customize leverage options.

The firm also accommodates traders utilizing automated strategies and Expert Advisors (EAs) on their proprietary platform, provided these strategies are unique and developed by the client.

FXIFY challenge rules

Tips to Choose the Right Program From FXIFY Challenge Programs:

Choosing the right challenge from a prop firm like FXIFY involves a thorough evaluation of your own trading style, experience, and risk tolerance. Each challenge may have different rules, targets, and restrictions that could either complement or hinder your trading strategy. Here are steps and considerations to help you determine which FXIFY challenge is best suited for you:

1. Assess Your Trading Style and Strategy

First off, you should understand whether your strategy focuses on day trading, swing trading, or longer-term positions. Different challenges may have time limits or trading style restrictions that better suit one approach over another. Choosing the right strategy can make or break your trades.

After determining your trading strategy, evaluate how your risk management strategy aligns with the drawdown limits and other risk parameters set by each challenge. Choosing a challenge that matches your risk tolerance will increase your chances of success. We have always emphasized on the importance of risk management. Without effective risk management, you cannot expect to sustain your strategy.

2. Understand the Challenge Requirements

After you’ve charted out a strategy, check the FXIFY challenge requirements, Look for profit targets that are achievable with your trading strategy. Some challenges may require higher percentage gains, which could necessitate more aggressive trading. Keep in mind that FXIFY offers multiple challenges.

Then, check the maximum drawdown allowed in the challenge. Ensure that your trading strategy can operate within these limits without being overly restrictive.

Finally, consider the duration of the challenge. Make sure you have enough time to trade effectively, considering your availability and trading frequency.

3. Evaluate the Costs and Rewards

Compare the costs of entering different challenges. Higher costs might offer higher potential capital or more favorable profit splits, but they also increase your initial risk.

Understand how profits are shared between you and the prop firm. FXIFY challenges have different splits based on your tier.

4. Consider Your Experience and Confidence Level

For Beginners: If you’re relatively new to trading, you might consider starting with a challenge that has lower risk and entry fees. This can provide a valuable learning experience with less financial pressure.

For Experienced Traders: If you have a proven track record and high confidence in your strategy, you might opt for challenges with higher profit targets and potential capital, assuming you’re comfortable with the associated risks.

5. Review the Tools and Resources Provided

Some challenges might offer additional tools, resources, or educational support that can help you trade more effectively. Consider whether these additions can benefit your trading approach.

6. Seek Feedback from the Trading Community

Look for forums, reviews, or social media groups where current or past participants of FXIFY challenges share their experiences. This can provide insights into which challenges are more manageable or rewarding based on different trading styles.

FXIFY Challenge: Conclusion

We hope you found this guide on FXIFY challenge programs helpful.

Signing up for the FXIFY challenge surely sounds easy, but is it? What do you think? Would you be able to pass this challenge or is it a ‘too good to be true’ deal?

We would love to hear from you. Share your thoughts down below!

Leave a Reply

Your email address will not be published. Required fields are marked *

© Copyright 2023 | Powered by Passionate Traders