What is Funding Pips?
Funding Pips is a proprietary trading firm that provides traders with funded accounts once they successfully pass an evaluation process. Proprietary trading firms like Funding Pips typically aim to identify talented traders who can manage large sums of capital in exchange for a share of the profits they generate. Established in 2022, Funding Pips has quickly made a name for itself in the industry due to its competitive profit splits, flexible evaluation models, and multiple platform options.
Traders who join Funding Pips are given the chance to prove their skills through a trading evaluation process. Once successful, traders gain access to accounts with substantial capital, ranging from $10,000 to as much as $2 million. Unlike traditional retail trading where the trader risks their own capital, proprietary firms like Funding Pips allow traders to leverage the firm’s capital, significantly reducing the risk for traders while providing them with an opportunity to earn.
Evaluation Models
Funding Pips offers various evaluation models designed to assess the trader’s ability to manage risk, generate profits, and maintain consistency. This ensures that only the most qualified traders are given access to large capital allocations.
- One-Step Evaluation
In this model, traders need to meet a specific profit target within a set period. The one-step evaluation is straightforward but demands strict adherence to risk management rules. Traders are typically required to achieve a 10% profit target without violating any loss limits. This evaluation is suitable for traders who are confident in their ability to deliver strong performance in a short time frame. - Two-Step Evaluation
The two-step evaluation process is more structured and comprehensive. It consists of two distinct phases:- Phase 1: In the first phase, traders are required to achieve an 8% profit target while adhering to strict risk management rules, such as a maximum daily loss of 5% and a maximum total loss of 10%.
- Phase 2: If the trader successfully completes the first phase, they move on to the second phase, where the profit target is reduced to 5%. The same risk management parameters apply, and the trader must demonstrate their ability to trade consistently.
- Three-Step Evaluation
For those who prefer a more gradual approach, Funding Pips also offers a three-step evaluation process. In this model, traders must pass three phases, each requiring a 5% profit target. This model spreads the evaluation across a longer period, allowing traders more flexibility while still ensuring their consistency and ability to manage risk effectively.
Profit Sharing and Account Scaling
Once traders successfully pass the evaluation process, they are given a funded account with access to substantial capital. Funding Pips offers one of the most competitive profit-sharing structures in the industry. Traders retain between 80% and 90% of the profits they generate, which is considerably higher than many other proprietary trading firms.
The profit split can increase as traders demonstrate consistent performance. For example, traders can start with an 80% profit split and gradually increase to 90% based on their success in managing the account. Additionally, traders who meet specific performance milestones may qualify for an account scaling option, which allows them to manage even larger sums of capital.
Trading Platforms
One of the key advantages of Funding Pips is the variety of trading platforms it offers. Traders can choose from several popular trading platforms based on their preferences and trading style.
- MetaTrader 4 (MT4)
MT4 is a widely used trading platform known for its simplicity and reliability. It offers a range of charting tools, technical analysis features, and automated trading capabilities, making it suitable for both novice and experienced traders. - MetaTrader 5 (MT5)
MT5 is the newer version of the MetaTrader platform and provides additional features, including more advanced charting tools, multiple timeframes, and improved order execution. Traders who prefer more complex trading strategies often opt for MT5. - cTrader
cTrader is another popular platform that offers an intuitive interface and advanced trading tools. It is known for its transparency and fast order execution, making it a preferred choice for traders who focus on short-term trading strategies.
By providing access to these platforms, Funding Pips ensures that traders have the tools they need to succeed, regardless of their trading style or preferences.
Payout Process
Funding Pips has a user-friendly payout process that ensures traders can easily withdraw their profits. Traders are eligible for weekly payouts, and the first payout can be made just seven days after the initial trade on the funded account. The payout process is straightforward, and traders can choose from a range of payment options, including bank transfers and e-wallets.
Fees and Rules
Like most proprietary trading firms, Funding Pips charges evaluation fees, which vary depending on the account size and evaluation model selected. These fees are typically non-refundable but cover the cost of the evaluation process. The firm also enforces strict trading rules, including maximum drawdown limits and daily loss limits. Traders who breach these rules during the evaluation phase may have their account disqualified.
It’s crucial for traders to thoroughly understand the rules and risk management parameters before starting the evaluation. Funding Pips has clear guidelines, and traders are encouraged to review them carefully to avoid any potential disqualifications.
User Feedback and Reviews
Funding Pips has received generally positive reviews from traders who have successfully passed the evaluation and managed funded accounts. Many traders praise the firm’s high-profit splits, flexible evaluation options, and responsive customer support. Additionally, the wide range of trading platforms available has been a significant advantage for traders who value choice and flexibility.
However, some traders have pointed out that the evaluation process can be challenging, especially for those who are not accustomed to strict risk management rules. The fees associated with the evaluation process are also a point of concern for some, although this is a standard practice across most proprietary trading firms.
Final Thoughts
Overall, Funding Pips offers an attractive proposition for traders who want to trade with large amounts of capital without risking their own money. The firm’s flexible evaluation models, competitive profit splits, and choice of trading platforms make it an appealing option for traders of all experience levels. While the evaluation process requires discipline and strict adherence to risk management rules, the rewards of passing the evaluation can be significant.
If you are a disciplined trader with a proven track record, Funding Pips could be a valuable partner in your trading journey, allowing you to scale your trading operations and enjoy substantial profit opportunities.
