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Info
Popularity & Trust
Trust Pilot Reviews: 2476
Trust Pilot Rating: 4.2
Last Update: October 18, 2024
Exist: 1.5 Years
Trust Score: 7.2 / 10*
The more reviews and the longer the firm existed will increase its Trust Score
Challenge Value
PRICE RATING
10K Fee: $89
25K Fee: $199
50K Fee: $379
100K Fee: $499
Price Score: 104*
The Price Score is calculated comparing 10K, 25K, 50K and 100K challenge costs. The average challenge Price Score is around 100. A lower number is better and means cheaper challenges.
DIFFICULTY RATING
P1 Target: 10%
P2 Target: 5%
Max Drawdown: 10%
Max Daily DD: 4%
Difficulty Score: 1.5*
Difficulty Rating is calculated on your total drawdown % compared with your total target %. Lower is better
VALUE RATING
Value Rating: 5 / 10*
The Value Rating is a combination of the cost of the challenges and the difficulty of passing the challenge. The best Value Rating has a score of 10 and the lowest a score of 1
Rules & Restrictions
Leverage: 30:1
Daily Drawdown Type: 😀 Balance Based
Challenge Time Limit: 😀 No Time Limit
News Trading: ✅ Allowed
Hold Weekends: ✅ Yes
EA's : ⭐ Most Allowed
NEWS TRADING
News trading is allowed. https://www.fxify.com/faqs/all-faqs/can-i-trade-the-news/
EXPERT ADVISORS
Most EA’s are allowed, including Grid Trading and Martingale. https://www.fxify.com/faqs/all-faqs/what-strategies-can-i-use/
*Please visit the firms website for updated terms & conditions
Trade Cost
FOREX SPREAD
FX Commission: $0
EU Spread: 10
UJ Spread: 11
UF Spread: 14
FX Spread Score: 11.7
INDEX SPREAD
Index Commission: $0
NAS Spread: 150
S&P Spread: 136
DOW Spread: 220
Index Spread Score: 16.9
SWAP FEES
Swap Score -55
Payouts & Scaling
Fee Refund: 100%
Simulated Share: None
Profit Share: 75%
Scaling: ✅ Yes*
Merging: ☹️ No
Max Combined Accounts: $800000
REFUNDS & BONUSSES
You can get your refund with your first withdrawal which can be as soon as your first trade is in profit.
PROFIT SHARE
You can get 90% profit split addon for extra 20% challenge fee.
SCALING
The scaling plan works as follows: Trader has to hit 10% in the first 3 months with 2 out of the 3 months being in profit to scale up 25%. Subsequent scale up will be every 3 months and account balance doubles.
https://www.fxify.com/faqs/all-faqs/how-does-your-scaling-plan-work/
PAYOUTS
Traders can request bi-weekly payouts with an addon for an extra 5% of challenge fee.
Please visit the firms website for updated terms & conditions
Pro’s & Con’s
✅ PRO’S
✅ MetaTrader Support ✅ Daily DD Balance Based ✅ News Trading Allowed ✅ Hold Weekends Allowed ✅ No Challenge Time Limit ⭐ Most EA’s Allowed* ✅ First Withdrawal and Challenge Fee Refund after 1 Day ✅ Challenge Fee Refund: 100% ✅ Max Combined Account Size: $800000 ✅ Crypto Payouts
❌ CON’S
☠️ High FX Spread ☠️ High Index Spread ❌ Low Leverage ❌ Low Profit Share: 75% ❌ No Merging
Summary & Rating
THE UPSIDE
MetaTrader support is always a big positive for most traders. There are also no restrictions on news trading and the daily drawdown rule suits swing traders. You can get your challenge free refund after just 1 trade and can trade account size up to $800k
THE DOWNSIDE
The downside to the firm though is very high trading fees on both Forex and Index instruments. there is also low leverage and lower profit split than with most firms.
IN SUMMARY
Although there are plenty of positives with this firm, the average challenge value and high trading fees make this firm less attractive than other options. But still, a solid firm, especially if you like MetaTrader and getting a quick payout. All things considered, I can rate this as a Tier 3 firm.
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