FundingPips: An In-Depth Review - Payouts, Rules, Guide, and Discount

Overview

FundingPips is a proprietary trading firm, founded in November 2022 and headquartered in Dubai, that caters to traders globally. Built "by traders for traders," the firm aims to address common challenges faced in the industry by providing access to simulated trading capital up to $300,000, with a scaling plan that can potentially reach $2 million. They emphasize a straightforward approach with flexible reward cycles and a commitment to empowering traders. This review focuses on FundingPips' Forex evaluation programs, their account rules, payout policy, and overall offerings.

Why Choose FundingPips?

FundingPips highlights several reasons why traders might choose their platform:

• Trader-Centric Approach: Founded by traders, they aim to provide the best tools and support.
• Zero Reward Denials: They promise reliability in their payout process for traders who adhere to the rules.
• Flexible Reward Cycles: Traders can choose weekly, bi-weekly, or monthly reward cycles depending on the program and their preference.
• Account Scaling: A competitive scaling plan allows traders to grow their simulated capital significantly.
• Popular Trading Platforms: Offers MetaTrader 5, Match-Trader, and cTrader.
• Global Reach: Supports traders from over 195 countries (with some exceptions like UAE, Iran, and Vietnam).
• Supportive Community: A large and active Discord community for traders to connect and learn.
• 24/7 Customer Support: Provides round-the-clock assistance in multiple languages.
• No Responsibility for Losses: Traders trade with simulated capital and are not responsible for losses, allowing focus on strategy refinement.

How the FundingPips Program Works

FundingPips offers several evaluation models leading to a "Master Account" from which traders can earn rewards. The general process is:

1. Choose an Evaluation Program: Select a program that fits your style (e.g., 1-Step, 2-Step, FundingPips Pro, or FundingPips Zero) and account size (from $5K to $100K).
2. Pass the Evaluation Stage(s): Trade according to the specific objectives of your chosen program, meeting profit targets while adhering to drawdown limits and minimum trading day requirements.
   • 1-Step Model: Consists of a single "Student Phase."
   • 2-Step Model & FundingPips Pro: Consist of a "Student Phase" and a "Practitioner Phase."
   • FundingPips Zero: Offers direct access to a Master account with specific rules.
3. KYC Verification & Agreement: After passing the evaluation, complete the Know Your Customer (KYC) verification and sign the customer agreement.
4. Receive Master Account & Onboarding: Your Master Account is created and undergoes an onboarding process (typically 2 working days) to connect to risk management systems.
5. Set Reward Cycle & Start Trading: Once onboarding is complete, set your preferred reward cycle to enable trading on your Master Account and start earning.
6. Scale Your Account: Based on consistent performance (successful rewards and total profit), traders can scale their accounts through different levels (Launchpad, Ascender, Trailblazer) up to the "Hot Seat" Elite Trader status, unlocking premium benefits.

FundingPips Account Options

FundingPips offers several evaluation models, each with distinct trading rules and structures. Here's a look at some of their main Forex evaluation programs:‍

FundingPips also offers a "FundingPips Zero" instant funding model with its own specific rule set, including a 5% Maximum Trailing Loss Limit and a 15% consistency score for rewards.

Rules of the FundingPips Program

Adherence to FundingPips' trading rules is critical for success. Here are some key account rules and policies:

• Loss Limits (Hard Breach):
  • Maximum Loss Limit: Varies by program (e.g., 6% for 1-Step, 10% for 2-Step, 6% for FundingPips Pro). This is based on the initial account size, and violating it closes the account.
  • Daily Loss Limit: Also varies (e.g., 3% for 1-Step & FundingPips Pro, 5% for 2-Step). This is calculated based on the higher of equity or balance at the daily reset (00:00 CE(S)T) and is a hard breach if violated.
  • 3% Rule (Master Account Only): No single loss should exceed 3% of the initial account size. Splitting trades is counted as one. This is a hard breach.
• Profit Target: Must be met in each evaluation phase (e.g., 10% for 1-Step Student Phase; 8% then 5% for 2-Step Student and Practitioner Phases respectively for one option).
• Minimum Trading Days: Generally 3 days for 1-Step and 2-Step evaluations, and 1 day for FundingPips Pro.
• Inactivity: An account is breached if inactive (no trades opened and closed) for 30 consecutive days.
• News Trading:
  • Evaluation Stage: No restrictions on holding trades during news or weekends.
  • Master Account (1-Step, 2-Step, Pro): Cannot open or close positions on affected currencies within a 10-minute window (5 mins before and 5 mins after) of high-impact news (red folder on Forex Factory). Profits from trades violating this may not be counted. An exception exists for trades opened more than 5 hours before the news. Purposely trading news is prohibited.
  • FundingPips Zero Master Account: Holding trades during high-impact news/speeches (10 mins before/after) or over the weekend is NOT ALLOWED and leads to a breach.
• Lot Exposure Limit (2-Step Master Account Only): A limit on the total number of lots open simultaneously, varying by account size (e.g., 10 lots for $25k, 40 lots for $100k). Exceeding this is a soft breach with profit deductions and potential account closure on repeated violations. There's also a 20 lot per click/trade limit.
• Forbidden Strategies: Include gap trading, HFT (holding trades <60s, or unusually high number of trades per hour), server spamming, latency arbitrage, toxic trading flow (e.g., excessive risk-taking, gambling behavior, overtrading), hedging across different accounts, reverse arbitrage, tick scalping, and using most third-party EAs (only trade/risk manager EAs allowed, and must be unique per user). Copy trading between different users' FundingPips evaluation accounts is prohibited.
• Leverage: Varies by instrument and model (e.g., Forex 1:100 for 2-Step and Pro, 1:50 for 1-Step and Zero).

Best Practices to Pass Your FundingPips Evaluation

To successfully navigate FundingPips' evaluations and manage a Master Account:

• Thoroughly Understand Program Rules: Each model (1-Step, 2-Step, Pro, Zero) has distinct parameters. Know your specific profit targets, loss limits, and news trading rules.
• Implement Strict Risk Management: Adhere to daily and maximum loss limits. For Master accounts, be mindful of the 3% single trade loss rule.
• Consistent Trading Approach: Avoid overly aggressive strategies or "gambling" behavior. The firm looks for sustainable trading skills.
• News Awareness: Pay close attention to the Forex Factory calendar, especially for Master Accounts, and understand the rules for trading around high-impact news.
• Lot Size Management: If on a 2-Step Master account, carefully manage your total open lot exposure.
• Avoid Prohibited Strategies: Ensure your trading style does not fall under any forbidden categories.
• Maintain Activity: Trade at least once every 30 days to prevent an inactivity breach.

Payout Structure and Profit Sharing

FundingPips offers a flexible payout policy with several reward cycle options for their Master Accounts:

• Profit Split: Traders can earn up to 100% of the profits. Standard reward splits vary by cycle:
  • 2-Step Model: Tuesday Payday (60%), Bi-Weekly (80%), Monthly (100%).
  • 1-Step Model: Tuesday Payday (80%).
  • FundingPips Pro: Weekly Rewards (80%).
  • FundingPips Zero: Bi-Weekly Rewards (95%, subject to 15% consistency score, 3% safety cushion, and biggest loss not exceeding biggest win).
  • Hot Seat Program: Elite Traders get On-Demand Rewards with a 100% reward split.
• Minimum Reward Amount: 1% of the initial account balance (including FundingPips' split, if applicable).
• Payout Processing: Rewards are typically processed within 1-3 working days.
• Payout Methods: RISE (minimum $500) or cryptocurrency (no minimum, but subject to fees). If RISE is not supported in a country, crypto is used.
• Scaling Plan & Hot Seat: Successful and consistent traders can significantly scale their accounts. Progressing through Launchpad, Ascender, and Trailblazer levels leads to capital boosts and increased drawdown limits. Reaching the "Hot Seat" (Elite Trader status after 16 successful rewards and 40% total profit) unlocks benefits like doubled initial balance, on-demand 100% rewards, access up to $2 million in capital, and monthly bonuses. All scale-ups are based on the original account size.

Final Thoughts

FundingPips offers a dynamic and trader-focused approach to forex prop firm funding. Their variety of evaluation models (1-Step, 2-Step, Pro, Zero) caters to different trading styles and preferences. The potential for high profit splits (up to 100% for Hot Seat traders), flexible reward cycles, and a comprehensive scaling plan up to $2 million are significant attractions. The provision of popular platforms like MT5, cTrader, and Match-Trader, alongside 24/7 support and a large community, adds to their appeal.

However, traders must be diligent in understanding the specific account rules for each model, particularly around news trading restrictions on Master accounts, lot exposure limits, and the 3% single trade loss rule. The "FundingPips Zero" model, while offering instant access, comes with its own set of stringent conditions for rewards. Overall, for traders who can demonstrate skill and adhere to the trading rules, FundingPips provides a robust platform with a clear path to significant simulated capital and rewarding payouts.

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