FXIFY, a prop trading firm, allows traders to access a funded account through an assessment. Traders can customize their accounts with add-ons like leverage choices and evaluation period extensions.
In this blog, we will answer the question, Can you hold trades over the weekend with FXIFY? So, if you’re interested in learning more about holding trades over the weekend with FXIFY, keep reading!
Can You Hold Trades Over the Weekend with FXIFY?
Yes! you can hold positions over the weekend with FXIFY. FXIFY’s evaluation process sets it apart by allowing traders to keep positions over weekends. Traders have the flexibility to manage trades based on their styles and preferences. This enhances their control over risk and strategies.
Keeping trades over the weekend can benefit in seizing the financial market that might arise during this time. However, it’s essential to recognize the potential risks in weekend trading. These include market volatility and unexpected news events. Traders should assess their risk tolerance carefully. They need to develop strategies to mitigate risks while taking advantage of weekend trading in the FXIFY environment.
Do You Need to Close Positions Over the Weekend?
No obligation exists to close your positions over the weekend. Yet, it’s essential to note that spreads may widen during these periods. We recommend carefully managing your positions and risk if you opt to hold trades over the weekend.
Strategies for Holding Trades Over the Weekend
When holding trades over the weekend, implement strategies to manage risks. Be attentive to potential opportunities. Here are some strategies for holding trades over the weekend:
- Setting Stop-Loss Orders: Stop-loss orders limit potential losses during unexpected weekend market movements.
- Monitoring News and Events: Stay informed about weekend news and events impacting the market. Being aware can aid in making informed decisions about open positions.
- Using Technical Analysis: Use technical analysis to spot potential market gaps. Make informed decisions about holding or closing positions before the weekend.
These strategies help manage risks and potential opportunities when holding trades over the weekend. They enable more informed and controlled trading decisions.
About FXIFY
FXIFY, a remote prop firm, offers evaluation programs for traders to access funded accounts and trade capital.
FXIFY offers two evaluation programs: the 1-phase and 2-phase challenges, tailored to different trading styles and levels. Here’s a detailed comparison of the two:
1. One-Phase Program
- Funding Levels: Traders can choose funding levels, starting from $25,000 and going up to $400,000.
- Assessment Criteria: The evaluation process assesses a trader’s ability to generate profitable trades using technical expertise, discipline, and risk management skills.
- Customization: Traders can customize their accounts at the checkout with multiple add-ons. Add-ons such as leverage choices and evaluation period extensions.
- Performance Split: Upon completion, traders can receive up to a 90% profit split on their live accounts.
2. Two-Phase Program
- Funding Levels: Similar to the One Phase Program, the Two Phase Program offers different funding levels ranging from $25,000 to $400,000.
- Assessment Criteria: The assessment process is designed to identify skilled traders and provide them with substantial financial support to expand their trading opportunities.
- Customization: Traders have the opportunity to tailor their accounts with multiple add-ons, such as different payout options and leverage choices.
- Performance Split: Upon successful completion, traders can receive up to a 90% profit split on their live accounts.
In both programs, traders can choose their preferred trading platform, access to MetaTrader 4 (MT4) and MetaTrader 5 (MT5), and request a withdrawal on-demand for their first payout.
