Funding Pips review 2024 – Is It This Prop Firm Any Good?

Funding Pips is a legitimate proprietary trading firm that is dedicated to empower novice as well as professional traders. Since its launch in the year 2022, Funding Pips has gained immense popularity amongst traders from different parts of the globe. Headquartered in Dubai, Funding Pips provides its traders with a single funding program option and this is the main attraction for new traders. In our Funding Pips review, you will get to know more about its Evaluation program as well as gain knowledge on how to become a Master in Funding Pips. So, keep reading! 

Why should I join Funding Pips?

Funding Pips is a proprietary firm that provides traders with a demo account in a simulated trading environment. Once you clear their Evaluation Challenge, you will be promoted to their next level, wherein you can trade as per real markets. 

By using the capital provided by the firm, traders can strategically plan their moves and generate profits. 90% of the profit earned will be given to the trader and if there are any losses then it will be borne by the firm.

Moreover, the support system of Funding Pips ensures that each trader is provided with a lot of assistance so that they can get their issues resolved quickly as well as stay up-to-date with the current trading news. On a regular basis, they hold workshops and conferences for enhancing the skills of traders. 

The trading dashboard of each trader provides insights on developing trading skills and becoming a pro. In short, Funding Pips not only provides capital but also shares trading tactics so that novice as well as professional traders can generate profits easily on their platform. 

What is the Evaluation Challenge and how does it work?

The Evaluation process of Funding Pips is divided into two; Phase 1 and Phase 2. As a trader, you need to clear both phases to become a Master and get funded with capital for trading. 

• The Phase 1 of the process is also referred to as ‘Student’, wherein you need to trade and reach an 8% profit target. 
• Phase 2 is referred to as ‘Practitioner’ and in this phase the trader has to complete various trading objectives provided on their dashboard. 

Once the trader clears Phase 1 and Phase 2 of the Evaluation process successfully and without violating any rules then they can reach Phase 3, which is also known as ‘Master’. As the name suggests, each trader reaching Phase 3 has mastered their trading skills so are now eligible to start trading with the capital provided by Funding Pips. 

What is the step-by-step process for acquiring a Master account?

To get the Master account, the following steps have to be followed as mentioned in our Funding Pips review – 

• Once you complete Phase 1, you will automatically be moved to Phase 2. You will receive credentials for your Phase 2 trading account through email. This usually takes 24 hours.
• After completing Phase 2, your Evaluation period will be reviewed manually by the proficient Risk team of Funding Pips, which takes two working days. All trades placed in Phase 1 and Phase 2 will be scrutinized by the team. 
• Next step is to complete your KYC (Know Your Customer) by uploading various documents to verify your identity and residential address. 
• To begin with the verification process, you need to visit your dashboard, click on Settings and then click on the Verify icon. The entire process takes only a few minutes.  
• After the KYC is verified, you will receive an agreement, which has to be signed digitally and sent back through email. This is an automated process and can be completed instantly. 

Once the aforesaid steps are fulfilled, your trading account will automatically be upgraded to the Master account. 

In the beginning, your Master account will hold an ‘onboarding’ status. You need to connect your account to the Risk Management framework of the firm. As soon as it gets connected, you will receive an email and this usually takes two working days. Connecting to the framework is important for your trades to be copied. Finally, your Master account is all set to trade. Happy trading!

I failed in the Evaluation Challenge. Can I retry?

Of course, you can retry, and you should! In fact, Funding Pips encourages traders to retry their Evaluation Challenge by providing discounts. 

• If a trader fails in Phase 1 then he will be provided with a 10% discount.
• If a trader is unable to clear Phase 2 then the discount provided will be 15%.
• For failing in the Master/Funded Challenge, the trader will receive a 20% discount.

These discount codes will be automatically sent to you by email or you can even access the discount code through your trading account dashboard. However, keep in mind that the discount code is valid only for 7 days.  

How can I withdraw my profits? 

All traders are eligible for a payout only after earning profits by trading on their Master/Funded account. To request for a payout, you need to visit your Dashboard and click on Payouts. Here you will be provided with a form that needs to be filled carefully. Make sure that all trades are closed before you submit the form for payout. 

If you are requesting for a payout less than $500, then it will be processed through Crypto USDT TRC20. On the other hand, if your payout request is above $500, then it will be processed via Rise. Each and every payout is processed on fixed timings i.e. 10am to 3pm Dubai time. 

Which Instruments can I trade and what is its contract size?

Instruments that you can trade – 

Contract Size – 

Pros of Funding Pips proprietary firm

• You can trade on a large variety of instruments like Forex, Commodities, Indices, and Cryptocurrencies. 
• Once you pass the Phase 1 and Phase 2 of Evaluation process, you will receive a refund of the fees at the time of 4th profit split.  
• There is no time-limit for completing the objectives provided in Phase 1 and Phase 2. So, you can plan your moves carefully. 

Cons of Funding Pips proprietary firm

• Hedging is not allowed in Funding Pips.

Conclusion

To conclude, Funding Pips offers an easy-to-navigate platform with innumerable features for trading and at an affordable fee. Its proficient team is always ready to help traders in solving their queries and enhancing their trading experience. Now that you have read our Funding Pips review, you would have known about the amazing features that the prop firm provides its traders. So, if you too are interested in trading on a simulated platform then Funding Pips would be a perfect choice! Register now to become a Master in Funding Pips prop firm!