Funding Pips prop firm is a proprietary trading company based in the United Arab Emirates and was launched in 2022, at least that’s the year the company claimed its Trustpilot profile. The firm only offers demo account trading and all trading accounts are simulated accounts it does not accept deposits, and only takes fees. Here is what the company says about its funded accounts at the bottom of its website: “Please note that all accounts we provide to our clients are demo accounts in a simulated trading environment.” This indicates that the firm does not allow traders to access real money and real accounts, which is often the case with most prop firms. The fees seem super competitive, with the smallest 5,000 USD funding challenge having just 32 USD. This fee is super low compared to other prop firms who typically charge much higher fees even for smaller accounts. If the firm turns out to be legit, this might be one of the best offers in the industry right now.
In today’s Funding Pips review, we will dive deeper into the important conditions of the firm and assess its safety, assets, funding, rules, and much more.
Pros
- Very low fees from 32 USD for 5k accounts
- Offers access to Match-Trader, cTrader, and TradeLocker
- Fast and digital account opening/verification
- The profit-sharing model starts at 80%, with potential to increase to 90%
- Lower profit target of 5% on 2nd stage and none on funded phase
- Higher overall drawdown limit of 10%
- Very low spreads and commissions from 0 pips and 2 USD per lot round turn
- Crypto, Indices, and Oil are commission-free
Cons
- Complex and strict scaling program
- All trading accounts are simulated, meaning traders do not trade real funds or interact directly with financial markets
- Lacks educational services
- Offers trading services without regulated brokers
- Has a decent range of assets, but lacks stocks
Safety of Funding Pips — 1.5
Funding Pips reviews are lacking on the FPA platform, but the firm has positive reviews on Trustpilot. The firm claimed its profile in 2022 which makes us think it was launched the same year. There are more than 7,900 reviews on Trustpilot about Funding Pips, 84% of which are 5-star evaluations and only 6% are 1-star. This 6% 1-start review amounts to more than 450 unsatisfied clients, which is not a low number. The firm has a 4.6 overall score on Trustpilot, which is not bad for a young prop firm. However, as the firm mentions, all the trading accounts even for funded traders are simulated virtual trading accounts, meaning the firm has no regulated partner broker and does not actually allow traders to access financial markets. So, it loses its score in these criteria. The firm is also around 2 years old, which gives it mild experience in the industry.
Funding Pips Trustpilot is not enough to give it more than a 1.5 score in safety.
Overall, the firm gets a 1.5 score in the safety section for not having regulated broker partner and FPA reviews.
Funding Pips Funding and maximum capital allocation — 3
Funding Pips funded programs are flexible starting with 5,000 USD funding options and increasing up to 100,00 USD. The exact list of funding options includes 5k, 10k, 25k, 50k, and 100k USD amounts. While the upper funding range might seem low, it is very competitive and fees are incredibly low.
Funding Pips funding options also come with the same options for all three trading platforms the firm provides, allowing traders to just select their favorable platform.
Funding Pips challenges have several steps before the trader gets actually funded and trades for profits. There is an evaluation stage which is divided into student and practitioner stages and after passing these stages traders continue to the funded stage.
There are no Funding Pips discount codes at this moment as the firm is not offering any sales or events, but the fees are very low anyway. So, traders can still pay a very small fee of 32 USD and start evaluation challenges. This absence of Funding Pips discount codes is a very minor drawback for the firm.
Funding Pips scaling plan is complex and allows traders to increase their maximum funding after consistently profitable trading. There are several tiers of the scaling plan, and each tier offers even less stringent rules and more funding.
Here is the list of scaling levels (tiers) and their corresponding benefits:
- Launchpad (level 1) – requires 4 successful payouts and 10% total profits, account balance is increased by 20%. The maximum drawdown is increased to 11%.
- Ascender (level 2) – requires 8 successful payouts and total profit made to be 20%. The account funding is increased by 30%, the maximum drawdown is increased to 12%, and the daily risk limit is increased to 6%.
- Trailblazer (Level 3) – requires 12 successful payouts and 30% total profits. The balance is increased by 40%, and the maximum drawdown limit is increased to 13%.
- Hot Seat – After 16 successful payouts and a total profit of 40%, the initial balance is doubled. Added benefits include on-demand payouts, a 90% profit split, the maximum funding increased to 2 million dollars, customized trading conditions for the trader’s method, a maximum drawdown increased to 14%, and a daily risk limit set at 7%.
If a prop trader reaches the Hot Seat status with a scaling plan, they get monthly bonuses based on initial funding account size:
- $100 for a 5K account
- $200 for a 10K account
- $300 for a 25K account
- $400 for a 50K account
- $500 for a 100K account
Funding Pips offers a decent funding range and excellent scaling plan, but only gets a 3 score in this section for not offering minimum funding of 1k and maximum funding of 1 million USD by default.
Funding Pips Assets — 3.5
Funding Pips provides traders with diverse financial instruments for trading in a range of asset classes such as Forex, Crypto, Indices, Metals & Energies. The absence of other asset classes such as stocks or futures is a firm’s downside. For FX traders, there are major pairs, minors, and exotics offered at competitive spreads and 1:100 leverage. The leverage is the same for all funded options and at all stages of the evaluation period.
The firm gets a 3.5 score in this section for offering a decent range of financial instruments for prop trading with flexible leverage.
Funding Pips Trading rules and limitations — 3.4
Prop firm rules are one of the most important parts of prop trading. Funding Pips rules seem very competitive when compared to popular prop firms within the industry. No matter the trader’s selected funding option for the trading platform, the rules do not change, allowing traders more flexibility and comfort. Traders are allowed to hold positions over the weekend and overnight, which is also flexible. News trading is allowed during the evaluation and funding stage, but if they execute trades before and after 2 minutes of high-impact news, the profits are deducted and the system automatically closes the trading position. The firm uses Forex Factory for determining high-impact news, and prop traders should also monitor the same economic calendar to stay compliant with this rule.
Traders are free to use any trading method and hold already opened positions during the news, overnight, and over the weekend. The exceptions are Gap trading, high-frequency trading (HFT), server spamming, latency arbitrage, toxic trading flow, hedging, long short arbitrage, reverse arbitrage, tick scalping, server execution, and opposite account trading.
As for other important rules:
- Maximum daily loss limit — 5%
- Maximum drawdown — 10%
- Profit target — 8% on 1st stage, 5% on 2nd stage, none during funded trading
- Minimum trading days — None
There is one more important rule referring to IP addresses. The initial IP address during the purchasing of the evaluation must match the IP address when the trader passes evaluations for each phase, or the support team will contact the prop trader and request proof.
Traders can merge several funded accounts into one account, and the maximum funding amount for merged accounts is 300,000 USD.
Overall, for offering above-the-average rules and less strict conditions, Funding Pips gets a 3.4 score in the rules section.
Funding Pips Fees — 4
The firm offers super-low spreads and commissions for trading. The spreads are raw meaning close to 0 pips and commissions are also very low with 2 USD per lot round turn. Crypto, Indices, and Oil are commission-free, which is super flexible.
Funding Pips free trial is not offered at this moment, but one-time fees paid for the challenge are refunded upon 4th successful withdrawal. Any account that is inactive for more than 30 days gets automatically suspended.
Funding Pips free repeat is not also available at the moment, which is a slight downside. However, the one-time fees for evaluation challenges are very competitive and low when compared to other prop firms out there.
For offering competitive fees and low spreads and commissions, Funding Pips gets a 4 score in this section.
Funding Pips Platforms — 5
Funding Pips prop trading offers a range of popular trading platforms. Among the list, there is a popular-advanced platform cTrader, Match-Trader, and TradeLocker. TradeLocker is famous for TradingView integration and offers useful functions. cTrader is the most advanced platform that allows fully automated trading capabilities. Match-Trader is also a decent platform for general multi-asset trading. The firm provides detailed tutorials to download and log in to a very useful trading platform. All platforms are available for both mobile and desktop devices.
The firm gets a 5 score in this section for offering top-of-the-line platforms with automated trading capabilities for all devices.
Funding Pips Profit-Sharing — 3
Funding Pips profit split starts at 80% which is already a competitive level. Traders can request a payout every 5th day after they first open a trading position on a funded stage. However, this is not the higher limit for the Funding Pips payout level, and using the scaling plan this profit split can be further increased. Once a trader reaches to Hot Seat level using a scaling plan, which requires 16 successful payouts, they are eligible to increase their profit share to 90%. Payouts, on this level, also become on-demand. The minimum payout amount is 1% of the initial funding balance.
The firm gets a 3 score in the payouts section for offering above-average conditions and up to 90% profit share.
Education and trading tools at Funding Pips — 1.3
Funding Pips does not offer educational resources to its traders, which is a firm’s downside. However, some tools and dashboards allow traders to monitor their progress and trading performance. These tools are available for mobile devices, which is flexible. The firm gets a 1.3 score for not offering decent educational resources to beginner prop traders.
Customer Support at Funding Pips — 2.4
The firm offers email and live chat support channels. There is also an extended FAQ section and help center to help traders. The website as well as support are only in the English language, which is a minor drawback.
The firm gets a 2.4 score in this election for lacking a hotline channel and multilingual support.
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