Introduction
Greetings, everyone! It's a pleasure to have you here. As always, we're back with another in-depth review for your benefit. Today, we're delving into the realm of Funding Pips, one of the latest featured proprietary trading firms showcased on our platform.
Funding Pips is making waves in the trading world, growing at an astounding pace, and emerging as an increasingly attractive option for traders globally. As the proprietary trading industry gains immense popularity at a rapid rate, more traders are opting for the backing of innovative prop firms that offer the finest conditions and choices.
With such a wide array of options, how do you make the right choice? This is where our role comes into play. We take it upon ourselves to conduct the research and present to you the top proprietary trading firms, making it easier for you to find the one that best aligns with your needs.
With that said, let's dive into our evaluation of Funding Pips and explore the offerings they bring to traders across the globe.
About Funding Pips
Speaking of the Funding Pips website, I must say it's quite appealing. Perhaps it's because they've chosen my favorite colors, but there's something about the layout that catches the eye. Funding Pips, though relatively young, has already established itself as a proprietary trading firm since its incorporation in August of last year.
As they approach their one-year anniversary, they call Dubai, UAE their home, and their growth has been nothing short of remarkable. They now offer traders the opportunity to choose from four distinct account sizes, ranging from $10,000 to $100,000. What's even more intriguing is that traders can manage up to $2 million in capital, which can be acquired by participating in their scaling plan, a topic we'll delve into in greater detail shortly.
Without further ado, let's explore the funding program options that Funding Pips extends to traders worldwide.
Funding Pips Evaluation Program
The Evaluation program accounts offer traders the ability to trade with a 1:100 leverage. Let's dive into Phase One, where traders are tasked with achieving an 8% profit target without exceeding the 5% maximum daily loss or 10% overall maximum loss rules.
Two-Step Evaluation
| Capital | $5,000 | $10,000 | $25,000 | $50,000 | $100,000 |
|---|---|---|---|---|---|
| Targets | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% | Phase I- Propfit Target = 8%, Phase II- Profit Target = 5% |
| Profit Split | Up to 90% | Up to 90% | Up to 90% | Up to 90% | Up to 90% |
| Weekend Holding | Allowed | Allowed | Allowed | Allowed | Allowed |
| Minimum Trading Days | 0 days | 0 days | 0 days | 0 days | 0 days |
| Time Limit | Unlimited | Unlimited | Unlimited | Unlimited | Unlimited |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% | 5% |
| Max Drawdown | 10% | 10% | 10% | 10% | 10% |
| Leverage | 1:100 | 1:100 | 1:100 | 1:100 | 1:100 |
| Refundable Fee | 32$ | 60$ | 139$ | 239$ | 399$ |
When it comes to time restrictions, during both Phase One and Phase Two, there are no minimum or maximum trading day requirements.
Advancing to Phase Two simply requires achieving the 8% profit target without breaking the daily or overall loss limits. In this phase, the profit target is 5%, and the same loss rules apply, with no time constraints on trading days.
To reach funded status, traders need to attain the 5% profit target without violating the maximum daily or overall loss limits. Successfully completing both evaluation phases earns you a funded account, your ultimate goal. In this funded account, there's a minimum withdrawal amount of 1% of the initial account balance. The daily loss and maximum overall loss rules still apply.
Your first payout is scheduled for 7 calendar days from the day you open your first position in your funded account, with subsequent payouts occurring on a weekly basis. The profit split ranges from 80% up to 90% based on your profits in the funded account.
Notably, the evaluation program accounts also feature a scaling plan. Account increases are granted based on the number of successful payouts. Here's a quick breakdown:
- After the first month and four successful payouts, you receive a 10% increase based on the initial balance.
- After the second month and eight successful payouts, you receive a 15% increase based on the initial balance.
- After the third month and, you guessed it, 12 successful payouts, you receive a 20% increase based on the initial balance.
- Finally, after the fourth month and 16 successful payouts, you qualify for the hot seat position in the company, with on-demand payouts, a 90% profit split, and scaling potential up to $2 million. Kudos to Funding Pips for this innovative approach.
When it comes to trading instruments for evaluation program accounts, Funding Pips offers a diverse selection, including forex pairs, commodities, indices, and cryptocurrencies. If you're into trading these assets, Funding Pips might just be the perfect fit for you.
Evaluation Program Rules
When considering the two-step evaluation accounts, traders must, as always, adhere to a set of crucial rules, including:
- Meeting the specified profit targets for the evaluation stages.
- Adhering to the maximum daily and maximum loss limits.
- Maintaining a mandatory stop loss on funded accounts within 30 seconds of a trade.
- Avoiding the use of martingale and hedging strategies.
- Steering clear of third-party copy trading risk.
- Avoiding third-party EA (Expert Advisor) risk.
These are important nuances to bear in mind. However, aside from these considerations, Funding Pips offers a host of exceptional accounts and an incredible opportunity for traders worldwide.
What sets Funding Pips apart?
What sets Funding Pips apart from other prop firms in a rapidly evolving industry? The distinguishing factor lies in their approach of never regulating your trading style. This is where they differentiate themselves from some of the industry's leading prop firms.
With Funding Pips, you have the freedom to trade during news events, hold trades overnight, and even through the weekends. However, as previously mentioned, it's important to note that martingale and hedging strategies are prohibited, and a required stop loss must be set on funded accounts. Nevertheless, there are no minimum or maximum trading day requirements during both evaluation phases.
Additionally, Funding Pips introduces a scaling plan that distinguishes them from other industry-leading prop firms. Compared to some of their counterparts, Funding Pips offers low profit targets, no time restraints, and very straightforward rules to follow.
Realistic Trading Objectives
Now, the question arises: Is obtaining capital from Funding Pips a realistic endeavor? When you examine their trading objectives, it becomes evident that they set themselves apart. With above-average maximum loss rules, low profit targets, and no minimum or maximum trading day requirements, Funding Pips emerges as an excellent choice for those seeking funding.
These evaluation program accounts offer traders a set of very realistic trading objectives and conditions to fulfill to receive payouts. This makes Funding Pips an attractive option for traders looking to grow their capital.
Payouts and Payment Proof
Now, let's talk about payouts and payment proof. After your first executed trade on the funded account, you become eligible to request a payout, and Funding Pips offers an impressive 80% up to 90% profit split.
If, at the time of withdrawal, you haven't made profits or prefer to keep your profits in the account, that's absolutely possible. You can request a payout at your convenience. The payout processing time is quite efficient, with payouts typically processed within three hours on average after the request is submitted.
For those seeking payment proof, Funding Pips provides several sources. You can explore payment proof from Funding Pips traders on their YouTube channel, which includes interviews with funded traders. Additionally, their Discord channel is a valuable community resource, where you can find channel payout proof and certificates awarded to successful individuals who qualify for a profit split. It's always a good idea to join the Discord channel for the latest information on this prop firm.
Brokerage and Trading Instruments
When it comes to brokerage, Funding Pips has chosen BlackBull Markets as its broker. As for the trading platform, they utilize MetaTrader 5.
In the realm of trading instruments, Funding Pips offers a wide array of options, including forex pairs, commodities, indices, and cryptocurrencies. These assets are available with a 1:100 leverage, providing traders with a diverse range of choices for their trading endeavors.
Education, Support, and Community
When it comes to education and support, Funding Pips offers a comprehensive FAQ section on their website. This section contains numerous articles that address key questions and provide valuable information for traders. As they continue to expand, it's likely that more information will be added to benefit their traders.
As you explore their website, you'll notice several ways in which Funding Pips stands out. They emphasize trading the way you want, introduce a unique scaling plan, feature a streamlined payout system, and offer the flexibility of unlimited trading days. These innovations set them apart in the industry.
Moreover, Funding Pips boasts access to tier-one banks with deep pool liquidity, access to all major world markets, and access to a vast range of trading instruments, with up to 26,000 instruments. Their commissions are also highly competitive, making Funding Pips a compelling option in the industry.
All in all, Funding Pips is making significant strides and offering a host of exceptional features.
Trustpilot Reviews
Turning our attention to Trustpilot for some third-party perspectives on Funding Pips. It's always valuable to seek external viewpoints, especially from the online community and individuals who share their reviews.
Upon visiting Funding Pips on Trustpilot, you'll notice they maintain an excellent score of 4.8 out of 5 at the time of recording, accompanied by numerous reviews. The overwhelming sentiment expressed is incredibly positive.
As you browse through the reviews, you'll find that the vast majority of users have awarded five stars and provided amazing ratings. It's important to note that all reviews, both positive and negative, offer valuable insights.
Reviewers are praising various aspects, including the support team, the community, the trading objectives, and virtually everything about this prop firm. This positive sentiment underscores why Funding Pips is growing rapidly in the market.
As always, it's advisable to conduct your own due diligence and review the feedback. However, the overall sentiment is very, very good for Funding Pips.
Conclusion
In conclusion, Funding Pips, while relatively new compared to some other prop firms, has rapidly established itself in the industry. They offer traders an incredible opportunity, boasting a significant amount of capital, realistic trading objectives, a robust support system, and a thriving community. They seem to check all the boxes for a great prop firm.
We wholeheartedly recommend Funding Pips to anyone in search of a prop firm with straightforward trading rules. They don't impose limitations on your trading style and provide excellent conditions for a diverse group of traders, from beginners to advanced.
Considering everything that Funding Pips brings to the table, they unquestionably stand out as a highly attractive option within the proprietary trading firm industry for traders around the world.