Funding Pips Review 2024
Website: www.fundingpips.com
Min. Deposit: US$ 32
Leverage: 1:100
Trading Platforms: Matchtrader, cTrader
Regulation: UAE
Headquarters: UAE
Founded: 2022
Regulatory Licenses:
- ANKH PROP – FZCO — registered in UAE, premises number 19948-001
Updated on January 4, 2024
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In crafting this review, we rigorously evaluated Funding Pips against a comprehensive set of standards derived from our analysis of over 1000 brokers and proprietary trading firms. We delved into the specifics of their trading challenges, account management options, profit sharing ratios, educational resources, and trader support services. Our assessment also considered user testimonials, market reputation, and the transparency of their trading conditions. This meticulous approach ensures our recommendations are well-founded, offering valuable insights to both novice and seasoned traders.
Funding Pips stands as a cutting-edge platform designed to unearth trading talents and assist them in navigating the complexities of funding. By providing an evaluation process that, upon successful completion, enables traders to manage funds up to $100,000, this prop trading firm solidifies its reputation as a supportive platform for traders aiming to amplify their skills with substantial capital. It presents an unparalleled opportunity for individuals to engage in real-world trading with minimal initial capital outlay. To ascend to the status of a funded trader, which entails trading with the company’s capital, candidates are required to pass a rigorous test or challenge to secure a funded account. Thereafter, they can trade with a company account as seasoned professionals. While this offers a significant advantage, prospective traders should be aware of the inherent risks involved in proprietary trading. Our comprehensive insights below shed light on these risks, offering a balanced perspective.
Pros
Comprehensive evaluation process to identify and nurture trading talent
Opportunity to trade with up to $100,000 of company funds
Minimal initial capital required to start trading
Cons
The challenge or test to become a funded trader can be rigorous and demanding
Potential risks associated with trading using leveraged funds
Funding Pips has garnered legitimacy and positive acclaim from a wide audience, reflected through user testimonials and reviews across various platforms, including Trustpilot. Clients frequently commend the firm for its efficient processes, excellent trading conditions, and the quality of support provided. While there are occasional reports of delays during the KYC and onboarding stages post the successful completion of Phase 2, the general consensus about Funding Pips remains favorable.
It's crucial to understand the distinction between proprietary trading firms like Funding Pips and traditional Forex brokers. Proprietary trading firms are typically subject to less stringent regulatory oversight, as they do not fall under the same regulatory purview that governs Forex brokers. Consequently, while they may offer significant opportunities, they also come with a different risk profile, necessitating a thorough understanding of these risks before engagement.
Is Funding Pips Scam?
Our investigation into Funding Pips, through an exhaustive review of its official digital presence, revealed no indications of fraudulent activities. Nonetheless, the inherently minimal regulatory oversight of proprietary trading firms can make it challenging to fully ascertain their legitimacy. Our advice for potential traders is to invest time in understanding the nuances of proprietary trading, be aware of the risks involved, and prefer firms with a longstanding, reputable operational history. This approach can mitigate potential risks, given that the monetary involvement typically revolves around subscription fees rather than substantial personal investment.
Funding Pips Challenge Evaluation Rules ▲
Funding Pips introduces participants to a two-phase evaluation challenge designed to assess their trading acumen and risk management capabilities. The initial Evaluation Phase mandates the achievement of set profit targets while adhering to specific drawdown and daily loss limits on a demo account. Successful candidates move on to the Verification Phase, tasked with demonstrating consistent performance under conditions that are often slightly more lenient.
Account Balance and Registration Fee ▲
Choosing your desired trading account balance is the first step before engaging with Funding Pips, with each account size bringing slight variations in conditions and the requisite registration fee. Remarkably, Funding Pips offers to refund these fees upon the trader attaining a Funded Trader status. Here's a breakdown of the registration fees across various account sizes for a comprehensive comparison:
Funding Pips' evaluation challenge is crafted to unearth and nurture trading talent, leading them through a structured career progression pathway comprising the Student, Practitioner, and Master stages. The company extends an array of account sizes, including $5,000, $10,000, $25,000, $50,000, and $100,000 Standard funded trading accounts, accommodating a broad spectrum of experience levels and capital preferences.
For those inclined towards automated trading, Funding Pips provides an Algo trading account option, specifically designed to cater to the needs of algorithmic trading. This account type facilitates the application and testing of trading bots within a proprietary trading setup, with the maximum allocation for Algo trading accounts reaching up to $300,000, thereby offering ample opportunities for growth and scaling of successful algorithmic strategies.
Within its evaluation challenge, Funding Pips mandates specific profit targets for participants. The first phase requires an 8% profit achievement, showcasing the trader’s capability to generate returns in line with the firm's expectations. Upon successful completion, traders advance to Phase 2 with a reduced profit target of 5%, a critical step for progressing through the evaluation and securing a funded account.
The evaluation challenge at Funding Pips sets the maximum allowable loss at 10% of the account balance, pertaining to the overall drawdown limit. This rule is instrumental in ensuring traders practice adequate risk management, keeping their account equity within safe limits to remain eligible for a funded account.
Funding Pips offers a notable degree of flexibility by not enforcing a minimum trading period for participants in its evaluation challenge. This approach permits traders to strategize their trading activities without the constraints of a predefined timeframe.
Contrary to some expectations, Funding Pips does not provide a free trial for its evaluation challenge or any of its trading accounts. Interested traders must select their preferred account size and fulfill the corresponding registration fee requirement to partake in the evaluation journey.
After successfully passing the challenge or test, traders will receive their Funded Account, which is typically activated within a few business days. It's crucial to remember that the account conditions and balance will mirror those of the account for which the trader qualified during the test. If a trader wishes to upgrade to a higher account level, they must pass the test again for the desired account balance.
Profit Split
Funding Pips provides a highly competitive profit-sharing arrangement, allowing traders to retain up to 80% of the profits generated from their trading activities. This generous profit split positions Funding Pips as one of the most attractive options in the forex market, offering traders a significant portion of the earnings and promoting the growth of their trading accounts.
When scrutinizing the account conditions, it's essential to evaluate whether the broker offers a variety of account preferences, together with the platforms, instruments, and trading costs available. Furthermore, understanding the leverage levels and trading conditions is imperative, as certain brokers may implement restrictions on specific strategies or forbid certain practices in funded accounts, which could lead to account termination. To regain access, traders would need to successfully pass the test again.
Trading Instruments
Funding Pips grants access to a wide array of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies. Traders can explore global forex trading with major and exotic currency pairs, engage in commodity trading with essential items like crude oil and metals such as gold and silver, and speculate on major stock market indices or trade popular digital currencies like Bitcoin and Ethereum.
Funding Pips Commission
Traders can engage in Forex, Crypto, Indices, Metals, and Energies trading with RAW spreads and a commission of 2 USD per standard lot round turn. Trading in Crypto, Indices, and Oil is commission-free, providing cost-effective trading opportunities.
Leverage
Funding Pips offers leverage up to 1:100, enabling traders to significantly increase their market exposure. This level of leverage allows for the control of larger positions with a smaller amount of invested capital, potentially leading to increased profit opportunities.
Funding Pips App Platform
Funding Pips provides traders with access to the MatchTrader and cTrader platforms, each designed to cater to different trading preferences. MatchTrader is appreciated for its user-friendly interface and efficient execution, making it suitable for both manual and algorithmic trading. On the other hand, cTrader is renowned for its advanced charting tools and direct market access, offering traders a customizable trading environment and comprehensive support for automated trading strategies.
Trading Conditions
Funding Pips facilitates trading through various challenges and programs, tailored to assess and accommodate the skills and risk management capabilities of traders. The platform supports a wide range of trading strategies, including scalping, swing trading, position trading, algorithmic trading, news trading, and hedging. These strategies can be leveraged across different markets and instruments, using platforms like MatchTrader and cTrader, to effectively pursue trading goals. While Funding Pips strives for efficient order execution, slippage may occur during periods of high market volatility or low liquidity, potentially affecting trade profitability by executing trades at slightly different prices than expected.
Funding Pips Promotions
Occasionally, Funding Pips runs promotions offering discounts through Funding Pips discount codes and promo codes. However, these promotions are typically subject to temporary conditions, and it's advisable for traders to verify their availability when signing up.
Funding Pips enables weekly withdrawals, allowing traders regular access to their earnings from trading activities. This feature is particularly appealing as it provides consistent payouts, motivating traders to sustain their trading momentum. The weekly payout system not only ensures prompt access to earnings but also supports traders in their financial planning and reinvestment strategies, thereby enhancing the trading experience on the platform.
Withdrawal Method
Withdrawals at Funding Pips are processed through Deel, a global payment and workforce management platform, facilitating seamless transactions.
In conclusion, Funding Pips offers a comprehensive trading platform for engaging in various markets and employing diverse trading strategies. With access to platforms like MatchTrader and cTrader, traders can utilize advanced tools and features to enhance their trading experience. The support for multiple account sizes, flexible leverage options, and a broad range of trading instruments makes Funding Pips suitable for traders at all levels. Nonetheless, it's wise to compare Funding Pips against other proprietary trading firms to find the best fit. While some competitors may offer similar conditions, others might better align with individual preferences, especially regarding instrument diversity and platform options beyond MetaTrader. However, Funding Pips maintains several significant advantages. Below is a brief overview of alternative brokers and a comparative table to assist traders in finding the optimal trading environment.
FTMO Excellent for Swing Trading Prop Firm
E8 Funding Suitable for USA Trading on Funded Accounts
The Funded Trader Ideal for Larger Account Sizes
