Overview
FXIFY is a London-based proprietary trading firm that provides traders with access to up to $400,000 in capital, which can be scaled up to $4 million. Co-founded in 2023 by David Bhidey and Peter Brown, FXIFY offers flexible assessment programs, including One-Phase and Two-Phase options.Things we didn't like:
High Assessment FeeMinimum Trading Days
Trailing Drawdown
Why would you want an alternative to FXIFY?
You might want an alternative to FXIFY if you're a newer trader or have a lower budget, as the minimum assessment fee of $175 could be high compared to other firms. The requirement of 5 minimum trading days may also be restrictive for traders looking for more flexibility. FXIFY's default monthly payout cycle could be a drawback for those wanting more frequent withdrawals, even though this can be reduced to bi-weekly with an add-on.
Additionally, the trailing drawdown on the one-phase evaluation and the low 5% maximum loss rule in the three-phase evaluation can be challenging for traders who prefer more lenient risk parameters. These factors might lead some traders to seek firms with lower costs, greater flexibility in evaluation rules, or more frequent payout options.
What other users do not like about FXIFY
FXIFY TrustPilot Customer Reviews, Feedback and Complaints
On Trustpilot, FXIFY has currently 2.4k number of reviews with a TrustScore (the overall measurement of reviewer satisfaction) of 4.30/5.00.
Main Complains according to the Users' Reviews
- Horrible customer service
- Terrible Spread
What to look for in a FXIFY Alternative?
When seeking an alternative to FXIFY, consider the following factors:
- Lower Assessment Fees: Look for firms with more affordable assessment fees, which can be particularly important for newer traders or those with limited capital.
- Flexible Trading Day Requirements: Find alternatives that offer fewer minimum trading days or none at all, providing greater flexibility in how you manage your trading.
- Frequent Payout Options: Choose firms that offer more frequent payout cycles or flexible withdrawal options to better match your financial needs.
- Less Restrictive Drawdown Rules: Seek firms with more lenient drawdown rules, avoiding stringent trailing drawdowns or low maximum loss limits, which can be less challenging and offer more room for risk management.
- Comprehensive Evaluation Processes: Consider firms with different or more straightforward evaluation phases that align better with your trading style and risk tolerance.
These factors can help you find a prop trading firm that better fits your needs and trading strategy.
Best FXIFY alternatives – Proprietary Trading Firms like (or better than) FXIFY
Rating breakdown
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt
Things we didn't like:
A Relatively New player in the funded account offeringFunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
Unlimited evaluation free retries (7% Off Exclusive Offer)No restrictions on trading style
Overnight and weekend holding allowed
A large variety of trading instruments
Things we didn't like:
Consistency rule for express accountsNo free trials available
Minimum 5 trading days
FundedNext Overview
In 2022, Next Ventures launched a new platform: FundedNext was live. The prop firm quickly made a name for itself by its generous capital allowance: a staggering $4 million was on the table for FundedNext traders who get to keep 90% of any profits made.
Rating breakdown
Things we liked:
Let you trade with leverage of up to 1:30Things we didn't like:
5%ers Challenge fee is on the higher end of the spectrumThere are other holes in the 5%er offer
the5ers Overview
The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.