Prop Trading Firm Funding Pips Unveils cTrader (2024)

FAQs

What happened with funding Pips? ›

The service of Funding Pips was disrupted as its only brokerage partner, Blackbull Markets, has terminated its services. A representative of the broker also confirmed that it was forced to terminate its services to prop trading by MetaQuotes.

Funding Pips's software is constantly monitoring the activities of traders, and a breach of any rule will result in account suspension. A trader is eligible to request a payout every 5th day after the first executed trade on the funded account. There will be an 80% profit split applied.

If you already have a cTrader account with your email that you used to purchase the Funding Pips Evaluation: Log into cTrader with your email using one of the cTrader applications (Web, iPhone, Android, Windows, Mac).

The Onset of Funding Pips' Troubles

The abrupt suspension of services by Funding Pips on February 14 affected a section of the proprietary trading community, revealing the company's dependence on its brokerage partner, Blackbull Markets, and, subsequently, MetaQuotes' platforms.

Prop trading firms have been shutting down or suspending their services, particularly to U.S.-based clients, because of a crackdown from MetaQuotes, the company behind the popular MetaTrader trading platforms.

Although the Funding Pips' CEO said that it has active US clients, its website now shows the US, the UAE, and Vietnam as three restricted countries.

Your first payout is 5 calendar days from the day you place your first position on your funded account, while all the following payouts are also on a 5-day basis.

The verification can be done via the dashboard (Settings > Verify). Additionally, there will be a notification on top of your dashboard to notify you about the verification process. The entire verification and approval process typically takes just a couple of minutes.

To convert the value of the pip to U.S. dollars, just multiply the value of the pip by the exchange rate, so the value in U.S. dollars is $10 (8.93 * 1.12).

Can I do scalping in funding Pips? ›

On the Master account any trading activities that are used to take advantage of trading platform inefficiencies (Gap trading, high-frequency trading, martingale trading, layering, server spamming, latency arbitrage, long short arbitrage, hedging, grid trading, reverse arbitrage, tick scalping, server execution, ...

Subsequently, Funding Pips' CEO, Khaled Ayesh, confirmed that the firm had completely migrated the existing servers and switched the service provider to Match-Trade Technologies, the operator of the Match-Trader platform.

Proprietary traders use their firm's own money to invest in the financial markets, and they retain 100% of the returns generated. Unlike proprietary traders, hedge funds are answerable to their clients.

The Maximum Loss Limit is the amount your equity or balance can't go below. This rule is set to 10% of the initial account size. For example, if you have a $100.000 account and the Maximum Loss Limit is 10%, your equity or balance can't go below $90.000 at any moment.

Prop firms fund traders to earn a share of their profits, which constitutes a major part of their revenue, and may also gain income through subscription, joining fees, and selling educational courses.

Payouts below 500$ will be processed through crypto USDT TRC20. Payouts above 500$ will be processed via Rise. Rise supports both bank transfer and crypto. The payouts are processed from 10 am to 3 pm Dubai time.

The elimination of the STOP LOSS rule means that traders at Funding Pips will no longer be bound by predefined stop-loss orders. This empowers traders to make more flexible and strategic decisions about when to exit trades.

Request your payouts on a 5 trading days basis with a 80% profit split. Once a trader earns a Hot Seat in our firm, the trader receives on-demand payouts with a 90% profit split.

Meta Quotes, the company behind the popular trading platform MetaTrader, has made the decision to restrict access to their platform for US traders. This decision has caused some prop firms to face challenges and has raised concerns about the future of prop trading.