Enfoid Full Review- Is It A Scam?














  • FUNDING UP TO $700,000



There are a huge number of prop firms out there, offering different services, which can make it hard when attempting to choose one to go with. Trading with a prop firm can beneficial for traders in many ways, particularly if you’re looking to expand your capital and/or test your experience as a trader. In this article we look at Enfoid and whether it’s worth considering. Read on to find out more.


Who Are Enfoid?

EnfoidOpens in a new tab.

There are four different account types to choose from when looking to pass their initial challenge, and traders are able to keep 50% of all profits. It’s worth noting that there are other prop firms offering a larger profit share, however there are a few factors making it worthwhile considering this firm to trade with.

There are a couple of options to choose from when looking to Scale Up your account. Scaling from EnfoidOpens in a new tab.

There are no monthly subscriptions or fees which is great news for those who prefer to pay a preliminary fee and know that that is exactly what they have to pay for- and that’s it. It is also 100% refundable! So far it’s looking as though Enfoid has some great services to offer, let’s delve a bit deeper into what they’re all about.

Getting Funding From Enfoid

Most, if not all, prop firms require an initial test to confirm you are eligible to trade a funded account Live. Enfoid is no different, however they offer several other options making it viable for many people no matter how experienced, or how much capital you have to spare.

The first option, labelled as ‘Free’, is to prove that you can trade a funded account in 3 easy steps. Step 1 (Evaluation) is to complete an initial evaluation proving that you can do it, by making 10% profit within 30 calendar days. Step 2 (Verification) is to show consistency, by making 5% profit within 60 calendar days. Finally, you’re able to trade a Live funded account with a 50% profit share. For all steps, there is a 10% maximum drawdown. This has initial funding limited to $50,000. This is very similar to the challenge style model you see a lot of the Top Prop Forex FirmsOpens in a new tab.

If you’re looking to start trading with a prop firm and have some capital to spend, it may be worth looking at their ‘Fast’ option. By paying a 1% deposit of the selected account you wish to trade Live, you’re able to skip a lot of the process you’d have to go through in the Free option, such as references and experience, and go straight to the evaluation in which the steps are the same as the Free account. A Fast account also takes around 21 days before trading Live whereas the Free account takes around 100 days. This has initial funding of between $10,000 and $100,000.

Finally, if you have a lot of experience in trading you may want to consider their Pro option. By providing proof of previous experience, you can potentially start trading Live funded accounts straight away. Initial funding for this is between $100,000 and $700,0000. This isn’t going to be possible/applicable to the majority of traders.

What Makes Enfoid Different From Other Prop Firms?

When researching this prop firm, what made it stand out really was the options they provide when you’re looking to start Live trading a funded account. For those who are perhaps less experienced and looking to play with less capital, the Free option is perfect.

Steps are simple, easy to understand and reflect those of most other prop firmsOpens in a new tab.

Having multiple ways of being able to get a funded account means that Enfoid has a lot to offer a lot of traders. No matter your experience or your capital, there is an option for you.

On more of a negative note, compared to other prop firms like MyForexFundsOpens in a new tab.

Is Getting Funding From Enfoid Realistic?

Considering the options they have for different traders looking to start funded accounts, we’d say that gaining funding from Enfoid is pretty realistic and accessible to most.

There are a few rules to consider but this is the case with most prop firms. Following these rules for Enfoid means:

-5% Intraday Drawdown Limit
-10% Maximum Equity Loss
-Minimum of 10 trading days per month
-No entering/exiting trades 5 minutes before/after News events

Sticking to these rules, as well as the profit targets, should mean that getting funding is possible for all! Of course, the more experience you have means that getting funding is more attainable as you can go for the Pro option. Being flat before or after the news is going to be an issue for traders that like to capitalise on fundamental moves – meaning they may need to go with one of the other prop firmsOpens in a new tab.

You’ll also get a 50% profit share, from the profits you manage to bring in on your funded account. If we compare this to some other companies in the industry, FTMO offers 70%Opens in a new tab.

Enfoid Reviews- What Are Traders Saying?

As with our other Top Prop FirmOpens in a new tab.

Over all, Enfoid has an average rating from Trustpilot with 3.5 out of 5 starsOpens in a new tab.

It’s worth noting that Enfoid doesn’t have the most reviews, which is something to bare in mind. They’re currently sitting at 21 reviews, which compared to FTMOOpens in a new tab.

Summary- Is Enfoid A Scam?

Our research into the company shows that it is not a scam, and actually is a fairly good prop firm that deserves consideration when looking to start trading funded accounts! In particular we found that the variety of options they provide for different traders makes it stand out from other prop firms. Most cater to different types of traders, but right from the start there are different ways of getting your funded account- whether you are less experienced or not wanting to spend too much money, or you come from a highly experienced background of trading, there is an option for you with Enfoid.

With the lack of positive reviews and complicated challenges, right now I’m sitting on the fence. I’d recommend taking a look at our Best Prop Firms ListOpens in a new tab.

If you have any experience with Enfoid please do let me know in the comments below, I’d love to hear your opinion.

Phoebe Hall

I started investing and got involved with the money markets around 2019. This isn't a full time job for me, more so a hobby and an industry I'm incredibly passionate about. Alongside speculating within the markets, I write content financial blogs in the industry.

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