FXIFY Rules
Rules
To maintain a fair and secure trading environment, FXIFY has established specific rules and guidelines. Below is an overview of the most pertinent information:
1. Prohibited Trading Strategies
FXIFY strictly forbids trading practices that exploit the simulated trading environment or deviate from real-market conditions. Such prohibited strategies include:
- High-Frequency Trading (HFT): Utilizing advanced algorithms and high-speed networks to execute numerous trades in fractions of a second, potentially leading to market manipulation and instability.
- Reverse Hedging: Placing offsetting positions across multiple accounts within FXIFY to minimize or negate risks, thereby exploiting the firm's rules or limitations.
- Group Hedging: Collaborating with other traders to place opposing trades in different accounts within FXIFY, aiming to minimize overall risk while appearing to actively trade.
- Account Management: Allowing someone else to trade on your behalf or managing another individual's account, which is strictly prohibited.
- Exploiting Errors in Services: Using trading strategies that knowingly or unknowingly exploit errors in FXIFY's services, such as discrepancies in price displays or delays in updates.
- Trading with External or Slow Data Feeds: Executing trades using external or delayed data feeds to gain unfair advantages.
- Highly Speculative Trading Strategies: Engaging in trading strategies that involve excessive risk-taking beyond standard trading practices.
- Coordinated Trading to Manipulate Markets: Performing trades alone or in concert with others, including between connected accounts, to manipulate trading outcomes, such as simultaneously entering into opposite positions.
- Use of Unauthorized Software: Employing software, artificial intelligence, ultra-high-speed, or mass data entry methods that might manipulate, abuse, or provide an unfair advantage when using FXIFY's systems or services.
- Gap Trading Around Major Events: Opening trades when major global news, macroeconomic events, or corporate reports are scheduled, especially within specific time frames that might affect the relevant financial markets.
Engaging in these strategies may result in trade reversals, account restrictions, or termination.
2. News Trading Policy
FXIFY permits news trading across its account types. However, traders should be aware of the potential risks associated with high-impact news events and ensure they have appropriate risk management strategies in place.
3. Gambling & Reckless Trading Behavior
FXIFY prohibits trading behaviors that resemble gambling or reckless betting, including:
- Punting: Placing a small number of large, high-risk trades without a structured strategy.
- Overleveraging: Using excessive margin on a single trade, risking significant losses from minor market movements.
- Overexposure: Taking large positions in highly correlated assets, falsely assuming diversification.
- All-In Strategies: Risking a large percentage of the account balance on one trade without proper risk management.
- Doubling Down (Martingale): Increasing trade sizes after losses to recover quickly, increasing risk exposure.
- Excessive High-Frequency Scalping: Opening and closing trades within seconds without a sustainable long-term strategy.
Traders engaging in these practices may face warnings, trade restrictions, resets, or account termination.
4. Consequences of Rule Violations
Violations of FXIFY's trading rules can lead to account breaches, resulting in the inability to continue trading on the account.
Adhering to these guidelines is crucial for maintaining account eligibility. For the most detailed and up-to-date information, refer to FXIFY’s official Terms of Service and FAQ section.