Funding Pips is a newer prop trading firm based in Dubai, United Arab Emirates. They were listed on our website last week. So, we are here to give you an overview of the Funding Pips program. Firstly, they were incorporated on the 25th of August, 2022, and offer undercapitalized traders up to $2,000,000 in funding with a profit split of 80% up to 90%.
Funding Pips believes traders progress through three key stages in their professional journey: Student, Practitioner, and Master.
Funding Pips Program Overview
They have developed a two-phase evaluation process. This is followed by a funded phase to evaluate trading talents and provide support in overcoming funding challenges.
Funding Pips offers its traders the following evaluation program accounts to choose from.
Let’s see the requirements of all the phases:
- Evaluation phase one requires a trader to reach a profit target of 8% while staying within their 5% maximum daily loss or 10% maximum loss rules. When it comes to time limitations, note that you have no minimum or maximum trading day requirements. In order to proceed to phase two, you are only required to reach the 8% profit target. But remember not to breach the maximum daily or maximum loss limit rules.
- Evaluation phase two requires a trader to reach a profit target of 5% while staying within their 5% maximum daily loss or 10% maximum loss rules. Regarding time limitations, note that you have no minimum or maximum trading day requirements during phase two. To proceed to funded status, you are only required to reach the 5% profit target without breaching the maximum daily or maximum loss limit rules.
- 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.
Funding Pips never regulate your trading style. You can trade during news, hold trades overnight, and during the weekends. However, martingale and hedging are prohibited, and you are also required to set a stop-loss on funded accounts within 30 seconds.