Funding Pips Forex prop firm review – Diverse funded options, low fees

Funding Pips prop firm offers funded accounts from 5k USD to 100k USD on 1-step, 2-step, and 3-step evaluation accounts. The firm promises up to 100% profit sharing through its scaling plan, allowing the trader to control up to 2 million dollars in virtual funding. The starting profit share level is 80% and traders can trade on FX, commodities, indices, and cryptos.

In this Funding Pips review, we will assess the firm’s critical features such as safety, fees, rules, funded options, support, platforms, and more.

Overall

Funding Pips prop trading firm is a relatively reliable prop company offering 5k to 100k funding options on 1-step, 2-step, and 3-step challenges. The minimum fee starts from 32 USD on the FundingPipsX 2-step 5k program and the firm offers TradeLocker, Match-Trader, and cTrader platforms. Traders can have up to 1:100 leverage depending on the funded challenge option and the type and speculate on a wide range of markets including FX pairs, energies, metals, and cryptos.

Pros & cons of Funding Pips prop firm

Pros

• ✅ Competitive fees, with one-time payments as low as 32 USD
• ✅ Scaling plan allows traders to reach 2 million USD
• ✅ Multiple advanced trading platforms, including cTrader, Match-Trader, and TradeLocker

Cons

• 🚫 The firm has some negative reviews (10%) on Trustpilot
• 🚫 No educational resources such as webinars, courses, or video guides

Safety of Funding Pips

Funding Pips reviews are very positive on Trustpilot as the firm overall. However, 10% of these reviews evaluate the firm with a 1-star rating, which is a bit concerning and traders need to read all the rules and requirements carefully before applying for the challenges at Funding Pips. The firm has a total score of 4.4 on Trustpilot, which is a decent result. Funding Pips has no reviews on the FPA platform. The firm was launched in 2022, giving it some experience in the prop trading industry. All trading accounts are virtual trading accounts including funded ones and traders never access actual funded accounts in live markets. This is a common practice among modern prop firms. Overall, Funding Pips provides an average safety and reliability to traders. It is not a scam for sure, but 10% of traders seem to be disappointed, which is never a good thing for a prop trading firm.

Funding Pips Funding and maximum capital allocation

Funding Pips funded programs are diverse and offer a wide range of funding options. There are two main account types with sub-account types. The FundingPips challenges include 1-step, 2-step, and 3-step accounts while the FundingPipsX challenge only offers 2-step evaluation challenges. Funding Pips funding options are the same for all challenge types except for FundingPips 3-step challenge which only offers 10k, 25k, and 100k funded options. All other challenges also include a 5k funded option.

Traders need to achieve a certain profit target in all Funding Pips challenges and if the account is 2-step or 3-step, they have to do so 2 times or 3 times.

Funding Pips scaling plan allows traders to not only grow the funded account size but also get increased daily risk limits of up to 7% and a maximum drawdown of up to 7%. Traders can get up to 2 million USD in funding and get on-demand payouts and monthly bonuses.

Funding Pips Assets

Funding Pips prop trading is possible by speculating on diverse asset classes including Forex pairs, indices, commodities, and cryptos. The firm does not offer stocks for trading, which is a slight downside. There are no futures and options offered as well. The leverage allowed is different depending on the challenge type purchased. 1-step and 3-step accounts allow traders to have 1:50 on Forex pairs, 1:20 on metals and indices, 1:10 on energies, and 1:2 on cryptos. The 2-step challenges come with different leverage levels, on Forex 1:100, 1:30 on metals, 1:20 on indices, 1:10 on energies, and 1:2 on cryptos. As we can see, traders can only trade cryptos using 1:2 leverage. Traders at Funding Pips are allowed to open maximum lot sizes as their leverage allows them to, which can be very flexible to deploy various trading methods.

Funding Pips Trading rules and limitations

Funding Pips rules are very forgiving as the firm allows EAs (Expert Advisors, automated trading), news trading, holding overnight, and holding positions over the weekends. The firm does not limit traders’ lot sizes, meaning traders can trade positions with whatever volume they desire, giving them superior flexibility. There are no limits on trading days and traders are allowed to get funded at their own pace, which is very important for beginners.

As for the risk limits, each account requires slightly different risk amounts.

The FundingPips 1-step accounts allow a 4% daily risk limit, a 6% maximum drawdown, a 10% profit target, and 3 minimum trading days.

The FundingPips 2-step accounts allow traders to have a 5% daily risk limit, a 10% maximum drawdown, and 8% and 5% profit targets for phases 1 and 2. The minimum trading days are 3 here as well.

The FundingPips 3-step accounts require traders to have no more than a 4% daily risk limit, a 6% maximum drawdown, and a 5% profit target on all 3 phases.

The FundingPipsX 2-step challenge has a 4% daily risk limit, an 8% maximum drawdown, 3 minimum trading days, and 10% and 8% profit targets for phases 1 and 2.

Overall, Funding Pips rules seem pretty attractive and competitive in the prop trading industry.

Funding Pips Fees

When it comes to fees, Funding Pips has a one-time fee model, where traders pay the fee once and start trading on a challenge to get funded. Different account types and funding options have different fees. Let’s list them all to compare them easier.

The FundingPips 1-step account has the following fees for funded options:

• Funded amount: 5,000 USD – one-time fee: 59 USD
• 10k USD – 99 USD
• 25k USD – 199 USD
• 50k USD – 299 USD
• 100k USD – 499 USD

The FundingPips 2-step challenge account requires traders to pay:

• Funded amount: 5,000 USD – one-time fee: 36 USD
• 10k USD – 66 USD
• 25k USD – 156 USD
• 50k USD – 266 USD
• 100k USD – 444 USD

3-step FundingPips challenges require traders to pay the following one-time fees:

• Funded amount: 10,000 USD – one-time fee: 59 USD
• 25k USD – 139 USD
• 50k USD – 219 USD
• 100k USD – 349 USD

The 2-step FundingPipsX challenge has the following one-time fees:

• Funded amount: 5,000 USD – one-time fee: 32 USD
• 10k USD – 60 USD
• 25k USD – 150 USD
• 50k USD – 250 USD
• 100k USD – 399 USD

Funding Pips free trial is not available and the Funding Pips free repeat is not offered either. Overall, Funding Pips offers extremely low fees for its funded challenges, which is very attractive. The minimum fee starts from 32 dollars for the 2-step FundingPipsX 5k USD challenge.

Funding Pips Platforms

Funding Pips provides traders with several advanced trading platforms including Match-Trader, Trade Locker, and cTrader. From these platforms, the cTrader offers a lot more functionality, including custom indicators and Expert Advisors (EAs). The firm allows trader to use automated trading systems, which is very useful for algo traders. Match-Trader and Trade Locker were designed for prop trading and are more flexible for prop trading purposes, while cTrader offers more features, making Funding Pips attractive in this category as well.

Funding Pips Profit-Sharing

Funding Pips profit split starts from 80% by default, but traders can increase through the scaling plan and consistently profitable performance.

Traders can request payouts every Tuesday. Once traders get a hot seat with the firm, they get on-demand payouts with 100% profit splits. Before traders achieve the hot seat, they get a standard 80% profit sharing and can withdraw profits every week (Tuesday).

Education and trading tools at Funding Pips

Funding Pips falls short when it comes to educational resources. The firm does not provide beginners with webinars, trading courses, or video guides. However, there is a trading blog where various posts are provided covering market insights and important topics about prop trading. Overall, Funding Pips provides a poor educational experience to its traders.

Customer Support at Funding Pips

When it comes to customer support, Funding Pips offers live chat and email support options. There is no phone support available, which is a serious drawback. The firm discloses its address on the website. Both the website and the support are offered only in the English language, which is also a minor drawback. Overall, the support is satisfactory from Funding Pips as the firm offers a live chat.

Frequently Asked Questions on Funding Pips