Prop trading firm FXIFY is expanding beyond its traditional CFD offerings with the introduction of FXIFY Futures and an Instant Funding program. These updates have generated significant interest, with over 100,000 traders registering for the futures platform’s waitlist ahead of its open beta release.
Expanding into the Futures Market
The FXIFY Futures platform is currently in “private beta,” with limited information shared publicly. The official website encourages users to join the waitlist and refer others, with active participants eligible for rewards such as discounts, cash bonuses, and free challenges once the platform launches.
The move into futures trading may be a strategic response to the August 2024 MetaQuotes ban, which restricted services for U.S. investors. Futures contracts could offer FXIFY a workaround to these limitations.
FXIFY is part of a broader trend among prop trading firms venturing into the futures market. Other firms like FunderPro and Traddoo have recently made similar moves, while early adopters such as MyFundedFX launched futures-focused offerings through separate entities like MyFundedFutures.
Instant Funding Program Set to Launch
FXIFY’s Instant Funding program, debuting in December, will allow traders to access trading capital immediately without completing evaluation phases. Traders can pay a premium fee to open funded accounts, with account sizes ranging from $1,000 to $50,000. The program offers up to 80% profit splits but comes with stricter rules, including a maximum trailing drawdown of 8%.
Leverage ratios include 50:1 for forex, 20:1 for commodities, 15:1 for indices, and 2:1 for cryptocurrencies. FXIFY describes the program as a way to provide traders with immediate access to capital while maintaining risk management through enhanced rules.
Updates to Existing Challenges
The firm has also updated its 2-Phase Challenge, transitioning from a static to a trailing drawdown system. This change, effective for new accounts as of Sunday, applies to both the Challenge and Funded stages. Existing accounts will continue to operate under the original static drawdown parameters.
Growing Market Presence
FXIFY has been scaling its operations and recently achieved $3 million in monthly trader payouts. This milestone comes as the firm adapts to regulatory challenges, such as transitioning U.S. traders to the DX platform following MetaQuotes policy changes.
Earlier this year, FXIFY celebrated its first anniversary, reporting over $1.7 trillion in trading volumes and paying $8.7 million to funded traders during its first year of operations.
With its new futures platform and Instant Funding program, FXIFY is positioning itself to attract a broader audience while addressing industry challenges and market demands.
