Funding Pips Review 2024

Funding Pips is a prop trading company offering up to 1:100 leverage and a maximum funding of $2,000,000. The initial fee paid for accounts is refunded after 4 successful payouts.

The company charges $2 per lot for trading Forex, metals, and energy sources; other markets have no fees.

Funding Pips - Company Information

Funding Pips company burst onto the prop trading scene in 2022, quickly gaining attention for its trader-friendly policies and structured scaling plan. Led by CEO Khaled Ayesh, this UAE-based firm had partnered with BlackBull Markets to provide traders access to the popular MT5 platform. However, this partnership has ended.

Here are some key facts about Funding Pips:

• Founded: 2022
• Headquarters Location: United Arab Emirates
• Trading Platform: Match-Trader, cTrader, TradeLocker
• Account Sizes: $5,000 to $100,000 (with the potential to scale up to $2 million)
• Evaluation Process: one-phase, Two-phase, and three-phase challenges

Funding Pips Prop Firm Key Features

Here's a summary of the firm's features and specifications at a glance:

Advantages and Disadvantages

As with any prop firm, Funding Pips has its strengths and potential drawbacks. Let's break them down:

Funding and Price Overview

Funding Pips offers a range of account sizes to suit different trader preferences and experience levels. Here's a breakdown of their funding options:

• Initial Account Sizes: $5,000, $10,000, $25,000, $50,000, $100,000
• Scaling Potential: Up to $2 million (at Hotseat level)
• Challenge Fees: Starting from $36 for a $5,000 account
• Refund Policy: Initial fee refunded after 4 successful payouts

The firm's unique scaling plan includes four levels:

1. Launchpad: Initial funded account
2. Ascender: 30% increase in account size
3. Trailblazer: 40% increase from the initial level
4. Hotseat: Double the initial balance (up to $2 million max)

Registration and Verification Guide

Getting started with Funding Pips is a straightforward process. Here's a quick overview of what to expect:

Registration

1. Visit the Funding Pips website and click "Dashboard" or "Buy Challenge".
2. Click on "Create Account".
3. Create an account by providing your email and personal details. Also, create a strong password for your new account.
4. Check your inbox for email verification. Click on the received link.

Verification

Once you've completed your challenge successfully, you'll need to complete your personal details in your profile on the Funding Pips website. For this, click on the [gear] button in the bottom left of the cabinet. You would need to enter your address.

Then, upload the required documents for the verification process.

Funding Pips Prop Firm: How is the User Evaluation and its Rules?

Funding Pips company employs three different approaches to the evaluation process to assess traders' skills and risk management abilities. These approaches are divided into these categories: 1-step, 2-step, and 3-step.

The first step is Student, the second is Practitioner, and the third is Senior. You can choose from one of these evaluation approaches for your account. In the table below, we will have a look at the specifications for each phase in each approach:

Specs for 1-step and 3-step procedure:

Specs for 2-step procedure:

Upon successful completion of the phases, traders undergo a manual review by the platform's Risk Team before proceeding to account verification and funding.

Bonuses in Funding Pips

This platform offers several attractive bonuses to incentivize and reward successful traders:

1. Account Doubling: Traders who reach the Hotseat level see their account balance doubled.
2. Increased Profit Split: Hotseat traders enjoy a 100% profit split.
3. Capital Access: Up to $2 million in trading capital is available at the Hotseat level.
4. Monthly Bonuses: Hotseat users receive monthly bonuses based on their initial account size.

Available Trading Platforms

Currently, Funding Pips offers three trading platforms for traders. We will introduce each one in the list below:

• Match-Trader: web-based platform that offers a demo account
• TradeLocker: Based on TradingView, offers mostly the same options and tools
• cTrader: Advanced platform with more tools, suitable for more experienced traders with these features:
  • Modern user interface;
  • High-speed execution;
  • Trade Copier service.

Trading Instruments and Symbols

Funding Pips provides traders with a diverse range of tradable instruments, catering to various trading styles and preferences. Here's an overview of the available asset classes:

• Forex
• Metals
• Cryptocurrencies
• Indices
• Energies

Payment Options: How Can I Withdraw My Profit?

Funding Pips broker offers a straightforward process for withdrawing profits. Here's some tips regarding this section:

• Weekly Payouts: Funded traders can request withdrawals once per week.
• Minimum Withdrawal: The minimum amount is 1% of the initial balance, including the platform's split
• Payment Methods: Withdrawals are processed via bank transfer, e-wallets, or crypto wallets (specific options may vary).
• Processing Time: Most withdrawals are processed within 1-3 business days.
• Profit Split: Traders receive their share of profits based on their current level

For Hotseat traders, on-demand payouts are available, allowing for even greater flexibility in managing their earnings.

Fees Overview

Funding Pips aims to keep costs low for traders. Here's a breakdown of the main fees:

• Challenge Fees: Starting from $36 for a $5,000 account (one-time fee)
• Trading Commissions: $2 per round lot for Forex, Metals, and energy sources (other instruments commission-free)
• Spreads: RAW spreads provided, typically very competitive
• Withdrawal Fees: No fees charged by Funding Pips (bank or e-wallet fees may apply)
• Account Maintenance: No monthly or inactivity fees

It's worth noting that the initial challenge fee is refunded after a trader has completed the evaluation step(s) and has achieved four successful payouts from their funded account.

Education Materials

While this platform primarily focuses on providing capital to skilled traders, they do offer some educational resources:

• Comprehensive FAQ section covering trading rules and platform usage
• Blog with some limited articles
• YouTube channel with webinars and educational videos
• The customer support team available to answer trading-related questions

However, traders looking for extensive educational content may need to supplement with external resources.

Trust Scores and Ratings

Funding Pips broker has garnered generally positive reviews from the trading community. This platform has obtained a high score of 4.5 out of 5 based on over 11,000 reviews from the users of Trustpilot, a solid review platform. A summary of users' feedbacks:

• Positive Feedback: user friendly dashboard, responsive customer support, transparent rules
• Critical Feedback: Occasional rule changes, slippage on some hours, news trading restrictions

While 8% of Trustpilot reviews are 1-star, the overwhelming majority of traders report positive experiences with Funding Pips.

Support Contact Options

Funding Pips offers multiple channels for customer support:

• Email: [support@fundingpips.com]
• Live Chat: Available on the website
• Help Center: Comprehensive FAQ and knowledge base
• Social Media: Active presence on Facebook, X, and Instagram

Social Media Channels

Stay connected with Funding Pips through their social media presence. Updates and events regarding this platform will be posted on these channels:

• Facebook: @FundingPipscom
• X (formerly Twitter): @FundingPips
• Instagram: @fundingpips
• YouTube: Funding Pips Channel
• Discord: Fundingpips

Expert Suggestions

Funding Pips, led by CEO Khaled Ayesh, has set a maximum total drawdown of 6% for 1-step and 3-step programs and 10% on 2-step models.

Minimum trading period required for passing the evaluation is 3 days in all accounts.