Funding Pips is a proprietary trading firm based in Dubai, UAE. The prop firm has been established with the goal of providing unparalleled services to its clients and possesses a team of highly skilled and experienced professionals who are dedicated to deliver the best funded trading experience to its customers.
Funding Pips offers a comprehensive range of funded accounts with competitive prices, excellent customer service, and accounts merged of up to $500,000. The company is equipped with state-of-the-art technology and utilizes cutting-edge methods to deliver the best possible results. “Built By Traders For Traders” is the company’s motto, and they make sure to stick by it every passing day to improve the trading conditions for their customers and simply keep them funded.
The new firm is striving to create a unique and approachable way to become the best in funding traders and managing capital remotely from anywhere in the world They created top nudge rules for their traders to sharpen their skills and document consistency in trading. The rules are designed to make sure that once you are funded, you remain funded. Funding pips is always aiming to make things easier by having strategic partnerships that offer top tier software solutions. Nevertheless, they have their own in-house engineers to ensure that customers always have the best trading experience with Funding Pips.
Funding Pips currently has four different plans available to traders, with varying features and functionalities. The new firm is striving to create a unique and approachable way to become the best in funding traders and managing capital remotely from anywhere in the world
Funding Pips believes that traders go through three different types of levels throughout their careers, Student, Practitioner, and Master. With Funding Pips built-in 2 Phases Evaluation (Student – Practitioner) and funded trader (Master), which is built to find talented traders around the world while helping them get through their funding problems, by offering them the possibility to trade up $500,000 in capital.
Funding Pips mission is simple: gather more traders, train them, and teach them trading discipline and psychology such as understanding risk management. The prop firm’s main goal is to give traders the key to get and stay funded with the right guidance to build a successful trading career.
There are three pricing options for the Standard accounts. The lowest funded trading account that Funding Pips offers is $149 for a $25,000 Standard funded account, the second Standard option available is priced at $249 for a $50,000 funded account, and the 3rd and highest Standard option is priced at $399 for a $100,000 funded trading account.
As for the Algo option, there only one account available and it is a 100k funded trading account.
Note: The maximum allocation for Algo trading has been increased to $300,000, providing more opportunity for growth and success. This means you can have up to 3 Algo accounts! Note: Each account must be traded individually. If the system detects similar trading activity between two accounts, whether from your own or someone else’s trading account, both accounts will be flagged for violation.
The Standard Evaluation Stage (Phase 1 and Phase 2):
Funding Pips offers a Standard Evaluation course which is based on two phases, student, and practitioner. Traders need to pass both phases to become a Master trader aka a funded trader. It’s crucial that traders have a dynamic trading system & understand risk management to pass the evaluation course.
Stay updated with Funding Pips in-depth trading rules.
Trading Objectives are a key element to evaluate a trader’s skills, meeting the trading objectives proves that the trader is disciplined, consistent and therefore has the talent to become a funded trader.
The Student Phase (Phase I)
The student phase is to test traders about their trading skills while defining themselves as a trader. During the period of the student phase, traders must achieve a profit target of 8% within 30 calendar days without breaching any other trading rule.
The Practitioner Phase (Phase II)
The practitioner phase is a double layer to confirm the results and outcomes of the student phase. During phase 2 (The practitioner phase), traders must achieve a profit target of 5% within 60 calendar days without breaching any other trading rule.
Be Consistent with your strategy
Consistency is key – traders must stay consistent with the risk, SL, TP & lot sizes. Do not risk 0.25 – 0.5% one day, and 2 – 5% the next day. Likewise, do not trade with 1-2 lots daily and suddenly jump to 20-30 lots. If you have reached the profit target during the evaluation stage (Phase 1 and Phase 2), but not yet meet the minimum trading days you can’t open minimal/maximum lot sizes and/or open and close trades directly. Traders must keep trading as they were doing and stay consistent.
Allowed to hold trades over the weekend and trade during news
That’s good news and a way to differentiate Funding Pips with competitors. Traders are allowed to hold trades over the weekend and trade during the news on the standard evaluation stage and on the Master account.
6% Maximum Daily loss
A trader must not exceed the maximum daily loss of 6% of equity or balance on any given trading day during the evaluation of Phase 1 and Phase 2, the daily maximum loss will rest at 00:00 CEST/server. The Maximum Trailing Loss is applied to the Master account.
12% Maximum Loss Limit
A trader cannot lose in balance/equity 12% of the starting balance (i.e., 12000 for a 100K account) during the evaluation of Phase 1 and Phase 2. The trailing Maximum loss is applied to the Master account.
Biggest loss cannot exceed nor equal the biggest win
Proper risk management is key; therefore, the biggest loss cannot exceed nor equal the biggest win during the evaluation stage (Phase 1 and Phase 2).
Trading Strategy:
Funding Pips has zero trading restrictions; Trader can trade the way they want. Traders can use an “EA”, trade during news, hold trades over the weekend and trade lot sizes as big as the leverage allows for. However, Any Trading activities that are used to take advantage of MetaTrader inefficiencies (Gap trading, high frequency trading, martingale trading, latency arbitrage, hedging, grid trading, long/short arbitrage, reverse arbitrage, tick scalping, server execution, opposite account trading) are all prohibited trading plus copy trading or account management by a third-party vendor will result in account suspension, such activities with Funding Pips will result in account termination. Keep in mind using a third-party expert adviser is allowed if it is not managed or traded by another party.
Remember! Your trade ideas, their risk. To get a funded trading account with Funding Pips and grow as a trader you should be able to trade and have the right set of skills. You cannot cheat your way in.
First Payout + 80% profit split:
A trader is eligible to request a weekly payout after 7 days of the first executed trade on the funded account, ensuring that traders receive their funds more frequently. There is an 80% profit split applied for the Standard accounts.
Merging Accounts:
The first trading account traders will manage will be the size they signed up for, this could be $25.000, $50.000 or $100.000. Traders can trade up to $500.000 combined.
Each Evaluation (Phase 1 and 2) must be traded individually
Traders have to pass each Evaluation individually; Traders cannot copy trades (EA or manual) from one Evaluation account to another Evaluation account to pass them simultaneously with the same trades & trade ideas.
Merging Master Accounts
The Master/Funded accounts can be combined into one account, or traders can keep it separately after passing the evaluation course, it’s up to their own preference. To merge the Master/Funded accounts into one account, traders must send support@fundingpips.com an email or open a ticket through the helpdesk so the Funding Pips team can merge the account.
Trading Instruments:
Tradable instrument and commission
Traders can trade Forex, Crypto, Indices, Metals & Energies with RAW spreads and a 3$ commission per standard lot round turn. Indices are commission free.
Trading equities is prohibited on the Master account
Trading equities in the Master account (the funded account) is prohibited, therefore, such practice will result in a direct violation of the account.
Refunds:
All traders who pass Phase 1 and Phase 2 will receive a refund of their fees with their first profit-split period at the end of the first month on their Master account (The funded account).
During the evaluation stage of Phase 1 and Phase 2, there are no restrictions on trading strategy and traders can use any Expert Advisor. However, the rules below are applicable on the Master account (the funded account) received using the ALGO evaluation until a trader meets the criteria to switch the Standard Rules at which point the account will transition to a standard account with the standard trading rules applied and the extra restrictions from the ALGO evaluation will be lifted.
Reasoning: This allows the prop firm to evaluate a trader’s performance in live market conditions while protecting the company’s capital from harmful actions (i.e., gamblers).
The Algo Evaluation Course Phase 1 & 2:
Funding Pips offers an evaluation course which is based on two phases, student, and practitioner, which traders need to pass in order to become a Master trader aka a funded trader.
The student Phase (Phase I)
The student phase is to test traders’ trading skills and risk management while defining themselves as traders. During the student phase, traders must achieve a profit target of 8% within 30 calendar days without breaching any other trading rule.
The practitioner Phase (Phase II)
The practitioner phase is just a confirmation of the results and outcomes of the student phase. During the practitioner phase, traders must achieve a profit target of 5% within 60 calendar days without breaching any other trading rule.
No trading restrictions regarding the trading strategy
During the evaluation stage of Phase 1 and Phase 2, there are no trading restrictions on trading strategy and traders can use any Expert Advisor.
Allowed to hold trades over the weekend and trade during news
Traders are allowed to hold trades over the weekend and trade during the news on the evaluation stage.
6% Maximum Daily loss
A trader must not exceed the maximum daily loss of 6% of equity or balance on any given day during the evaluation (Phase 1 and Phase 2), the daily maximum loss will rest at 00:00 CEST/server. The Maximum Trailing Loss is applied to the Master account as written in Trading Behaviour.
12% Maximum Loss Limit
A trader cannot lose in balance/equity 12% of the starting balance (i.e., 12000 for a 100K account) during the evaluation (Phase 1 and Phase 2). The trailing Maximum loss is applied to the Master account as written in Trading Behaviour.
Trading Instruments:
Tradable instrument and commission
You can trade Forex, Crypto, Indices, Metals & Energies with RAW spreads and a 3$ commission per standard lot round turn. Indices are commission free.
Trading WTI, Brent, and equities are prohibited on the Master account
Trading WTI, Brent and equities are prohibited on the Master account, aka Funded account, this will result in direct violation of the account.
First Payout + 50% profit split:
A trader is eligible to receive a monthly payout after 30 days of the first executed trade on the Master account, aka Funded account. The first 30 days will have a 50% profit split applied.
Switching from Algo to Standard
An Algo Master account can be switched to a $100,000 Standard Master account with the standard rules applied and an 80% profit split if you meet the following condition:
- Receive a single payout of $2,000 (excluding our split).
Else, the account will continue to be subject to the Algo Trading Rules until the next payout due date, at which point the criteria must be met.
Example 1: If the balance is $104,000 after 30 days
If the balance is $104,000 after 30 days of the first executed trade on the Master account, aka Funded account you can request a payout once the 30 days are passed. 50% of the payout is yours, which is 50% of $4,000 = $2,000 profit split. After the payout has been processed, you will receive a new $100,000 Master Account with the standard rules applied and an 80% profit split.
Example 2: If the balance is $101,000 after 30 days
You can request a payout for the $1,000 profit with a 50% profit split applied but remember your account will remain on Algo mode till the next payout due date and the criteria are met.
Algo Payout schedule and profit split
- First payout is after 30 days with 50% profit split.
- Second and third payout is bi-weekly with 50% profit split.
- Fourth payout and onwards is on demand with 50% profit split.
Scaling Up:
The first trading account that you will manage will be the size you signed up for, this is $100,000 for ALGO evaluations. After receiving the first payout and meeting the criteria as written in section 6.2, your account will be switched to a $100,000 Master account with the standard scaling rules applied.
Merging accounts:
You can have 3 running Algo accounts, thus managing up to $300,000.
Each Algo Master Account must be traded individually
You have to trade each Algo Master account individually, you can’t copy trades (EA or manual) from one Algo Master account to another Algo Master account with the same trades & trade ideas.
Merging Master Accounts
After the Algo Master accounts are switched to the Standard Rules, the Standard Master Accounts can be merged into one Standard Master account. The criteria for switching from Algo to Master is stated in section 6.2.
Refunds:
The evaluation fee paid for Phase 1 Algo Evaluation is non-refundable.
That’s good news and a way to differentiate Funding Pips with competitors. Traders can trade the way they want. They can use an “EA”, trade during news, hold trades over the weekend and trade lot sizes as big as the leverage allows for on the standard evaluation stage and on the Master account.
Trading is not straightforward, it’s an up and down journey, therefore Funding Pips has for mission to there for their traders.
Extension
If traders are up at least 4% with 4 days remaining of their Evaluation Phase 1 or 2, then they are eligible to extend their trading account through Funding Pips dashboard with an extra 14 days.
Retry
If traders were unable to achieve the profit target during Evaluation Phase 1 or 2, but ended above the initial capital allocated after all trades were closed and did not violate any trading rules, they are eligible to receive one FREE retry which will give them a new Phase 1 account.
Funding Pips has recently increased the balance every month for the first 3 months based on the initial balance. The balance will be increased after the first, second and third month by 10%, 15% and 20% respectively. On the 4th month, the balance will be doubled, and the trader receives a hot seat in the firm to trade up to $2M in capital.
The process of switching from an Algo account to a Standard account has recently changed slightly because of the increased allocation, the medium news removal plus the removal of the Max Open Risk on their Standard accounts. A trader needs 2k in one single payout to be switched to standard, without including the company’s share.
Funding Pips platform has been designed to help traders achieve their goals and reach their full potential. The prop firm is always striving to improve their service, and they hope that this new upgrade will demonstrate their commitment to traders’ success.
Pros
- No trading restrictions
- Competitive pricing
- Free retry & extension
- Weekly payout system with 80% profit split
- Fast support
- Regulated broker
Cons
- No free trial
- Fairly new prop firm
Conclusion
After evaluation and although Funding Pips is a brand-new player in the proprietary trading space, we believe the prop firm will soon be shaking things up in the industry with its exceptional services. With a focus on innovation and a commitment to excellence, Funding Pips is poised to become one of the leading providers of funding services for traders around the world. Therefore, if you’re looking to get funded as a trader, Funding Pips could be one of the best places to start. The prop firm offers the best services to traders and aim to build the best community of funded traders. If you have what it takes to be among the best, Funding Pips is the recipe for success.
