Funding Pips is a proprietary trading firm established in 2022, headquartered in Dubai, United Arab Emirates. In this Funding Pips review, we’ll delve into the key features, benefits, and opportunities that make it a standout prop firm in the trading industry. Funding Pips offers traders the chance to scale up from an initial $5,000 account to a potential $2,000,000, with a maximum allocation of $400,000 for multiple accounts. Its holistic approach to trading support empowers traders to succeed. Let’s dive into the details of this firm. This review highlights how this recently launched proprietary trading firm operates predominantly in the forex market. It offers traders a competitive opportunity to leverage their capital and scale their trading careers. Funding Pips distinguishes itself by providing affordable entry into funded trading accounts, with prices starting as low as $32. The firm’s in-house engineering team is dedicated to enhancing the trading experience, while its partnerships ensure the latest software solutions. Additionally, traders have access to a wide range of trading instruments including forex pairs and cryptocurrencies. Traders who demonstrate consistent profitability can unlock the firm’s scaling plan, potentially increasing their account balance by 20%.
What Sets Funding Pips Apart from Other Prop Firms?
One key differentiator is the flexibility the firm offers its traders. Unlike many prop trading firms, traders at Funding Pips are allowed to trade during major news events, hold positions overnight, and even over weekends. However, the firm prohibits strategies like martingale or hedging and mandates the setting of a stop-loss within 30 seconds of opening a trade. With a profit split of 80% to 90%, through a partnership with Black Bull Markets, traders are highly incentivized.
This review also reveals a two-stage evaluation process, which includes an 8% profit target in the first stage and a 5% target in the second. The evaluation does not impose minimum trading days nor maximum trading days, providing traders with flexibility while maintaining a focus on profitability.
Criteria for Choosing the Best Prop Firms
Key Factors to Consider
Trust and Reputation
When choosing among the best funding prop firms, trust is paramount. Look for firms with strong reputations and positive reviews on platforms like Trustpilot. A firm's history and longevity in the industry are good indicators of reliability.
Account Types and Funding Options
Top prop trading firms offer various account types, such as evaluation accounts, instant funding accounts, and scaling plans. Consider the type of account that best suits your trading style and goals.
Trading Platforms and Tools
The quality of the trading platforms and tools provided by prop firms significantly impacts your trading experience. Popular platforms with advanced trading tools include MetaTrader 4 (MT4) and MetaTrader 5 (MT5), known for their advanced features and user-friendly interfaces.
Key Features of Funding Pips
- Evaluation Process Funding Pips employs a two-phase evaluation process designed to assess traders' skills, risk management, and profitability. In the first phase, traders must achieve a specific profit target while adhering to the firm’s risk management rules, including maximum daily drawdown and overall maximum drawdown limits. Upon passing this phase, traders move to the second stage, where they need to demonstrate consistency and discipline before receiving a funded account.
- Competitive Profit Splits One of the standout features of Funding Pips is its profit split model. Depending on the trading account size and trader performance, profit splits can be highly favorable. Funding Pips typically offers profit splits ranging from 70% to 90%, allowing traders to retain a substantial portion of their earnings.
- Account Sizes and Scaling Plans Funding Pips offers a variety of account sizes to suit different trading styles and experience levels. Traders can start with smaller accounts and scale up as they demonstrate consistent profitability. The firm’s scaling plans allow traders to increase their account size based on performance, offering long-term growth potential.
- Flexible Trading Conditions Funding Pips provides flexible trading conditions, including access to a wide range of financial instruments such as forex, commodities, indices, and cryptocurrencies. Traders can choose to trade using various platforms, including MetaTrader 4 and MetaTrader 5, ensuring a familiar and user-friendly trading experience.
- No Time Limits Unlike many other prop firms that impose strict time constraints on passing the evaluation phase, Funding Pips offers traders the flexibility to complete the evaluation at their own pace. This is ideal for traders who prefer to take their time to develop their strategies without the pressure of a deadline.
Advantages of Joining Funding Pips
- Low Barrier to Entry Funding Pips offers a relatively low barrier to entry, making it accessible to traders with varying levels of experience. The evaluation fee is affordable, and traders have the opportunity to prove their skills without risking their personal capital.
- Risk-Free Trading with Firm Capital For many traders, the biggest advantage of working with a prop firm like Funding Pips is the ability to trade with firm capital. This reduces the financial risk associated with trading and allows traders to focus on honing their strategies and maximizing their profits.
- Personal Growth and Skill Development By going through the structured evaluation process, traders are encouraged to develop better risk management and discipline, both of which are critical for long-term success. Funding Pips’ evaluation program is designed to help traders refine their skills in a real-world trading environment.
- Supportive Community Funding Pips fosters a strong community of traders who share insights, strategies, and tips. The firm offers educational resources and ongoing support, making it an ideal platform for both novice and experienced traders looking to enhance their trading skills.
Funding Pips Review
Funding Pips is a recently established proprietary trading firm operating in the forex market. It offers traders the opportunity to leverage their capital effectively. In addition to strategic partnerships for software solutions, Funding Pips has an in-house engineering team focused on enhancing the trading experience. The firm offers a variety of funded trading accounts, covering various trading instruments, including forex pairs and cryptocurrencies. Funding Pips provides access to these funded accounts with affordable entry options starting as low as $32. Traders demonstrating consistent profitability can qualify for the firm's scaling plan, which can increase their account balance to 20% of the original amount.
How Funding Pips Differs from Other Proprietary Firms?
Funding Pips distinguishes itself through flexibility in trading preferences. Traders at Funding Pips can participate in trading activities during major news events, keep positions open overnight, and over weekends. However, martingale or hedging strategies are prohibited, and funded account traders must set a stop-loss within the initial 30 seconds of a trade. Funding Pips offers a profit split ranging from 80% to 90% to its traders through a partnership with Black Bull Markets.
Compared to its peers, Funding Pips offers a two-stage evaluation process for traders to qualify for payouts. The first phase requires achieving an 8% profit target, followed by a transition to a 5% target in the second phase. Both stages have a maximum daily loss limit of 5% and an overall limit of 10% for total losses. There are no predetermined minimum or maximum trading day requirements in either evaluation phase. The evaluation programs at Funding Pips incorporate a growth strategy, offering attainable profit goals, lacking stringent day trading limits, and providing clear trading guidelines.
What Are the Advantages of Joining Funding Pips?
- Rewarding Scaling Plan: Funding Pips offers a dynamic scaling plan, allowing you to optimize your earnings within the platform. Under this plan, the company increases your trading account balance by as much as 20%, contingent upon your trading performance. Funding Pips encourages all its traders to actively engage in trading to qualify for the scaling plan and amplify their returns from the platform.
- Profit Sharing: Funding Pips has a profit-sharing scheme where you can earn up to 80% of the profits generated from their trades, which is among the highest in the forex market. With this, traders can receive a significant share of earnings, facilitating the growth of their trading account.
- Weekly Pay-outs: Funding Pips allows weekly withdrawals, providing a steady flow of funds into traders' accounts and motivating them to remain focused on trading. Additionally, these frequent withdrawals make it easier for traders to access their funds at more regular intervals compared to other platforms.
- Unlimited Trading Days: As traders require time to comprehend the intricacies of trading and to adhere to trading rules effectively, the prop firm does not impose restrictions on the minimum or maximum number of trading days. This approach grants you the freedom to trade at your own pace, enabling you to extract the utmost value from your trades within the forex market.
Funding Pips Pricing
Funding Pips offers five distinct pricing options for their Standard accounts, each tailored to traders' preferences. The entry-level option allows you to acquire a $5,000 Standard funded trading account for just $32. Alternatively, the second Standard choice provides a $10,000 funded account at a price of $60. The third option is a $25,000 funded trading account, available for $139. The fourth option is a $50,000 funded trading account, available for $239. The highest-tier Standard option is available for $399 and grants access to a $100,000 funded trading account.
For those interested in the Algo option, Funding Pips offers a single account variant, a well-endowed 100k funded trading account. It's worth noting that the maximum allocation for Algo trading has been elevated to $300,000, opening up more avenues for growth and success.
Trading Platform
Funding Pips exclusively uses the MetaTrader 5 (MT5) platform, known for its customizable charts, technical indicators, real-time market news, and diverse order types. MT5 is accessible on various devices for traders' convenience. This versatility extends across various devices, encompassing desktop computers, laptops, smartphones, and tablets. In essence, this ensures that traders can effortlessly access their accounts and execute trades, regardless of their geographical location.
Trading Instruments
The Funding Pips prop firm provides an extensive array of trading instruments to accommodate diverse trading strategies. Traders have the opportunity to engage in trading across multiple markets:
- Forex Pairs: Funding Pips offers a comprehensive selection of major, minor, and exotic currency pairs, allowing traders to capitalize on global economic trends and geopolitical events.
- Commodities: Traders can actively participate in the commodities market, encompassing precious metals such as gold and silver, as well as energy commodities like crude oil.
- Indices: A variety of global indices are at traders' disposal, enabling them to speculate on the performance of major stock markets worldwide.
- Cryptocurrencies: Recognizing the growing demand for cryptocurrencies, Funding Pips extends the opportunity to trade popular digital assets such as Bitcoin, Ethereum, and Ripple.
Leverage and Trading Conditions
Funding Pips offers leverage of up to 1:100, enabling traders to amplify their market exposure. The trading conditions facilitated by Funding Pips are designed to ensure a seamless trading experience. Traders can access an array of order types, including market orders, limit orders, stop orders, and more, allowing them to execute trades in alignment with their preferred strategies. Real-time market data, price alerts, and economic calendars are integrated to equip traders with timely information for informed decision-making. While leverage has the potential to enhance profits, it's imperative to exercise caution, as it also magnifies the risk of losses. Responsible use of leverage is encouraged to uphold sound risk management principles.
Customer Support
Funding Pips provides assistance and information to its valued customers. To address common queries and provide essential information about the company and its evaluation program, they have a comprehensive FAQ section readily available. If you require personalized assistance, their customer support team is ready to help. You can reach out to them through their social media channels for a prompt response. Alternatively, you can contact them directly via email at support@fundingpips.com.
Is Funding Pips Right for You?
Whether you're an experienced trader seeking additional capital or a newcomer eager to enter the trading world, Funding Pips offers a flexible and supportive platform for growth. With no time constraints on evaluations, competitive profit splits, and the ability to trade firm capital, Funding Pips stands out as an appealing choice for traders of all skill levels.
Summary
Funding Pips provides flexible pricing options, a diverse selection of trading instruments, a rewarding scaling plan, and a generous profit share. The prop firm’s pricing caters to various budgets, ensuring accessibility for traders at all levels. With a broad selection of trading instruments, including forex pairs, commodities, indices, and cryptocurrencies, Funding Pips supports a variety of trading strategies. The firm’s scaling plan and profit-sharing model are designed to reward traders' performance, with weekly successful payouts and unlimited trading days providing added flexibility and motivation. Furthermore, their responsive customer support team is readily available to assist with queries and provide guidance. Overall, Funding Pips delivers a comprehensive solution for traders seeking to maximize their capital and achieve financial success in proprietary trading.
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