Funding Pips Review and Analysis
Overview
Funding Pips is a transparent and trader-centric proprietary trading firm designed to cater to both novice and experienced traders. Offering competitive features like up to 100% profit splits, unlimited trading days, and fast payouts, the firm provides a strong platform for traders looking to grow their skills and earnings. Specializing in CFDs, it covers a wide range of assets, including commodities, energies, currencies, crypto, and indices.
While trading during important news events is restricted on the Master account to promote responsible trading, Funding Pips remains a top choice in the prop trading industry with its user-friendly platforms and diverse evaluation programs.
Funded Accounts
Funding Pips offers two distinct account types designed to support traders at different stages: the Evaluation and Master accounts. Both operate as simulated demo accounts, allowing traders to develop their skills without financial risk. The Evaluation account is intended to assess a trader's strategy and risk management, requiring a fee to start. Successful traders who meet the profit targets and pass the review by the risk team are upgraded to the Master account.
The Master account provides flexible profit splits, up to 100%, and customizable payout cycles. With no minimum profit targets and unlimited trading days, traders can enjoy a highly flexible and scalable environment to grow their trading success.
Challenge Overview
The Funding Pips Challenge is a structured, two-phase evaluation designed to assess traders' skills and risk management before granting access to a funded trading account. The first phase, known as the Evaluation Phase, requires traders to meet specific profit targets and adhere to strict rules, such as drawdown and daily loss limits, using a demo account. Successful completion of this phase allows traders to advance to the Verification Phase, where they demonstrate consistent trading performance under similar, slightly more relaxed conditions.
Traders can choose from various account sizes ranging from $5,000 to $100,000, each with a corresponding registration fee, which is refunded upon achieving funded trader status. For algorithmic traders, Funding Pips also offers an Algo trading account with a maximum allocation of $300,000, allowing traders to test and implement automated strategies.
In Phase 1, traders must reach an 8% profit target, and in Phase 2, this target is reduced to 5%. The maximum allowable loss throughout the evaluation is capped at 10%, ensuring traders maintain proper risk management.
While Funding Pips does not offer a free trial, the platform provides flexibility by not imposing a minimum trading period, allowing traders to approach their strategies at their own pace.
Pros and Cons
Let’s talk about the good stuff …
Funding Pips offers several strong advantages for traders seeking a robust and flexible trading environment. The platform features a professional trader dashboard that provides comprehensive tools and insights for effective trading. With access to a diverse range of instruments—including forex pairs, commodities, indices, and cryptocurrencies—traders can diversify their strategies and capitalize on various market opportunities. Funding Pips supports leverage up to 1:100 and imposes no maximum trading day requirements, allowing for greater trading flexibility. The firm’s scaling plan includes adjustable daily and maximum drawdowns, with scaling options up to 14% and 7%, respectively, providing room for strategic risk management. Traders benefit from frequent payouts, starting as early as the first Tuesday, and can enjoy a profit share of 80% to 100%. The affordable evaluation program prices and additional perks, such as monthly salary opportunities by qualifying for the Hot Seat, overnight and weekend holding, and news trading during evaluations, further enhance the appeal of Funding Pips.
...and the bad
Funding Pips presents several limitations that may impact traders' experiences negatively. High fees and hidden charges, including monthly subscriptions, platform fees, and withdrawal costs, can quickly erode profits. The firm's overly strict trading rules, such as rigid drawdown limits and unrealistic profit targets, often make it challenging to maintain a trading account successfully. Moreover, Funding Pips' limited payout options, coupled with the 1% withdrawal requirement, can further frustrate traders. The prohibition on hedging and reliance on equity-based drawdowns in their evaluation program also adds to the constraints, making it essential for traders to carefully consider these factors when choosing a prop trading firm.
Evaluation Metrics
Overall metrics
- Challenge difficulty: The firm's overly strict trading rules, such as rigid drawdown limits and unrealistic profit targets, often make it challenging to maintain a trading account successfully.
- Customer support: Funding Pips ensures traders receive the support they need with its 24/7 customer service. Traders can reach out via live chat, email, or the in-house AI bot, which provides quick and reliable responses to inquiries. This round-the-clock assistance is designed to address any concerns efficiently, ensuring a smooth trading experience for all users.
- Fee: Funding Pips provides a clear and competitive fee structure, ensuring transparency for all traders. The firm charges evaluation fees and commissions but keeps other fees to a minimum to facilitate smooth trading experiences.
- Payout scheme: Traders benefit from frequent payouts, starting as early as the first Tuesday, and can enjoy a profit share of 80% to 100%. However, Funding Pips' limited payout options, coupled with the 1% withdrawal requirement, can frustrate traders.
Meet the CEO
Khaled Ayesh's story is one of perseverance and adaptability. Born in Amman, Jordan, Khaled faced early challenges that shaped his resilience. At 17, he moved to Germany for higher education, starting in Mechanical Engineering before switching to Finance at SRH Hochschule Berlin. It was during his studies that Khaled discovered his passion for trading, which would define his career.
With a Finance degree and a passion for trading, Khaled founded Funding Pips, a proprietary trading firm. He aimed to address the industry's issues, such as long payout cycles and poor user treatment. His leadership introduced weekly payouts and a focus on user satisfaction, transforming the proprietary trading landscape and setting new industry standards.
Frequently Asked Questions (FAQs):
How fast are withdrawals processed?
On Funding Pips Withdrawals are processed via bank transfer or cryptocurrency, typically within 24 hours after approval, depending on the receiving bank.
What is the maximum profit split available with Funding Pips?
Funding Pips offers up to a 100% profit split for traders, maximizing their earnings potential.
How trusted is Funding Pips?
The trusted source of information on fintech matters SBO, gave Funding Pips a 3/ 5.00 rating based on analysing 20+ criteria and testing. Funding Pips is currently in 10th place in this ranking. FunderPro is currently rank as the number one.
What is the Funding Pips fee?
Fees range from $100 to $500. $100 for a 5K account; $200 for a 10K account; $300 for a 25K account; $400 for a 50K account; $500 for a 100K account.
Does Funding Pips offer coupons for customers?
Yes, currently, there is one Funding Pips discount coupon FOREXPROPREVIEWS available for customers.
How can I find Funding Pips discount coupons and promo codes?
What is the profit split for Funding Pips?
Funding Pips offers up to a 100% profit split for traders (starts at 80%), maximizing their earnings potential.
What is Funding Pips evaluation process?
By completing both evaluation phases, you are awarded a funded account with a minimum withdrawal amount of 1% of the initial account balance. You are only required to respect the 5% maximum daily loss and 10% maximum loss rules.
How do I become an Funding Pips Trader?
The profit target is 8% in phase one and 5% in phase two.
What is an acceptable max drawdown for Funding Pips?
Funding Pips enforces a maximum total drawdown of 10% across all challenges. Maximum Drawdown is the Distance between the highest and lowest points (maximum and minimum peak).
What is Funding Pips Trading Duration / Time restriction?
No maximum limit on trading days
What is Funding Pips leverage?
The leverage depends on the evaluation model you choose. You can trade with up to 1:100 leverage
What financial instruments can be traded at Funding Pips?
You can trade Forex, Crypto, Indices, Metals & Energies with RAW spreads. Forex and Metals have a 2$ commission per lot. Crypto, Indices, and Oil are commission-free.
Can I trade news at Funding Pips?
You are allowed to hold trades during news.
Can I hold trades overnight or over the weekend?
You are allowed to hold trades over the weekend.
