What Is Funding Pips?
Funding Pips is a Dubai-based proprietary trading firm that allows skilled traders to trade with funded accounts. Instead of using personal capital, traders can access company funds once they successfully pass the firm’s evaluation process. The firm provides accounts ranging from $10,000 to $2 million, depending on the trader’s performance.
The proprietary trading model benefits both the firm and the trader. Funding Pips takes a share of the profits generated by traders, but they offer a very competitive profit split, with traders keeping between 80% and 90% of their earnings. This high split makes the firm particularly attractive to experienced traders looking to scale up their operations while minimizing personal financial risk.
By providing access to significant trading capital, Funding Pips helps traders leverage their skills without worrying about losing their own funds. The firm is committed to identifying and funding talented traders who can manage risk effectively while consistently generating profits.
Evaluation Process at Funding Pips
Before accessing a funded account, traders must prove their skills by passing an evaluation process. This process is designed to assess a trader’s ability to manage risk, follow rules, and generate consistent profits. Funding Pips offers a choice between several evaluation models, allowing traders to pick the one that suits their style and experience.
1. One-Step Evaluation
The one-step evaluation model is ideal for confident traders who can demonstrate their ability quickly. In this process, traders must hit a 10% profit target without breaching any of the firm’s risk management rules. These rules include a daily loss limit of 5% and an overall maximum drawdown limit of 10%.
Traders who pass this one-step evaluation are eligible for a funded account. However, the rules are strict, and any breach of the daily or total loss limits will result in disqualification. This model is best suited for traders who can handle pressure and stick to a disciplined trading plan.
2. Two-Step Evaluation
The two-step evaluation is one of the more popular options at Funding Pips, offering a more balanced approach. This model breaks the evaluation process into two phases:
- Phase 1: Traders must achieve an 8% profit target while adhering to strict risk management rules, such as a daily loss limit of 5% and a maximum drawdown limit of 10%. The evaluation period typically lasts for 30 days, but traders can pass it sooner if they hit the target early.
- Phase 2: Once Phase 1 is complete, traders move to Phase 2, where the profit target is reduced to 5%. The same risk management rules apply, ensuring that traders maintain consistency and discipline over time.
The two-step process provides a thorough assessment of a trader’s skills and is well-suited for those who prefer a more comprehensive evaluation.
3. Three-Step Evaluation
The three-step evaluation is a more gradual process, allowing traders to demonstrate their skills over a longer period. Each of the three steps requires traders to hit a 5% profit target, with the same risk management rules in place throughout.
The three-step model offers more flexibility, making it a good option for traders who prefer to take their time and avoid the pressure of hitting larger targets quickly.
Trading Platforms Supported by Funding Pips
One of the standout features of Funding Pips is its support for multiple trading platforms. Traders can choose from a variety of well-known platforms, ensuring that they can work with the tools they are most comfortable with.
MetaTrader 4 (MT4)
MetaTrader 4 (MT4) is one of the most popular trading platforms globally. Known for its simplicity and reliability, MT4 provides a wide range of charting tools, technical analysis features, and support for automated trading strategies through Expert Advisors (EAs). Traders who prefer straightforward, user-friendly interfaces often choose MT4 for their trading needs.
MetaTrader 5 (MT5)
MetaTrader 5 (MT5) is the successor to MT4 and offers additional features, including more timeframes, a wider range of financial instruments, and more advanced order types. MT5 is ideal for traders who require more analytical tools and trade across multiple asset classes.
cTrader
cTrader is another popular platform offered by Funding Pips. It is known for its transparent order execution, fast trading speeds, and customizable interface. cTrader is particularly favored by traders who focus on short-term strategies, such as scalping, and those who want more control over their trading environment.
By offering these three platforms, Funding Pips caters to a wide range of traders, ensuring that everyone has access to the tools that best suit their trading style.
Profit Splits and Payouts
One of the major draws of Funding Pips is its generous profit-sharing structure. Traders who pass the evaluation process are entitled to keep between 80% and 90% of the profits they generate on their funded accounts. This is considerably higher than what many other prop firms offer, making Funding Pips an appealing choice for traders looking to maximize their earnings.
The profit split can increase as traders demonstrate consistent performance. For example, traders who maintain strong results over time may qualify for the 90% profit split, allowing them to keep almost all of the profits they generate.
Funding Pips also offers flexible payout options. Traders are eligible for weekly payouts, with the first payout available just seven days after the initial trade on the funded account. This fast turnaround allows traders to access their profits quickly and reinvest or use them as needed.
Fees and Risk Management Rules
Like most proprietary trading firms, Funding Pips charges an evaluation fee to cover the cost of assessing traders’ skills. The fee varies depending on the account size and evaluation model chosen. While the fee is non-refundable, it gives traders the opportunity to manage large amounts of capital once they pass the evaluation.
In addition to the evaluation fee, traders must adhere to strict risk management rules throughout the evaluation process. These rules include a maximum daily loss limit of 5% and a maximum drawdown limit of 10%. If a trader breaches these limits, they are immediately disqualified from the evaluation. This emphasizes the importance of discipline and consistency in trading.
Pros of Funding Pips
- Generous Profit Splits: With profit splits of up to 90%, Funding Pips allows traders to keep a significant portion of their earnings, higher than many other proprietary trading firms.
- Multiple Evaluation Models: Traders can choose from a one-step, two-step, or three-step evaluation process, providing flexibility based on their trading style.
- Wide Platform Selection: Funding Pips supports MT4, MT5, and cTrader, offering traders the flexibility to work with their preferred trading tools.
- Weekly Payouts: The fast payout system allows traders to access their earnings within seven days of their initial trade on the funded account.
- Scaling Potential: Traders who perform consistently well can scale up their accounts, increasing their access to larger amounts of capital over time.
Cons of Funding Pips
- Strict Rules: Traders must adhere to strict daily loss and drawdown limits, and breaching these rules can result in disqualification.
- Non-Refundable Fees: The evaluation fee is non-refundable, which can be a downside for traders who don’t pass the evaluation on their first attempt.
Conclusion
Funding Pips offers a solid opportunity for traders looking to access large amounts of capital without risking their own funds. The firm’s flexible evaluation models, high profit splits, and multiple trading platform options make it a top choice for both experienced and novice traders alike.
While the evaluation process is rigorous and the rules are strict, the rewards are substantial for those who can navigate the challenges. With fast weekly payouts and the potential to scale accounts over time, Funding Pips provides traders with the tools and support they need to succeed in the highly competitive world of trading.
If you are a disciplined trader who can follow strict risk management rules, Funding Pips may be the perfect partner for your trading journey.
