PipFarm Review 2024: Young but reliable Forex prop trading firm (2024)

Full PipFarm Prop Trading Firm Review

PipFarm is a Forex prop trading firm allowing traders to get funded accounts after passing an evaluation phase which requires them to show their trading performance under specific risk parameters. As such, prop firms provide traders with the opportunity to pay a small fee and get large trading accounts with large trading funds. PipFarm lets traders speculate on different markets and keeps a tiny portion of profits in return. In order to protect its capital, PipFarm requires traders not to lose more than a certain percentage of the funded account. The profit sharing is 90% which is super attractive in the prop scene.

PipFarm Review 2024: Young but reliable Forex prop trading firm (1)

PipFarm quick background

PipFarm offers very favorable conditions for both experienced and beginner traders. The firm provides a 25% discount on the first purchase of any seed funding amounts and has very few rules to follow. This lack of hidden rules and complicated risk management requirements presents unique opportunities for traders to deploy any trading strategy freely they think is valid and profitable.

Here are the main specs of PipFarm FX prop firm:

FPA ScoreNot yet rated
Year founded2024
HeadquartersSingapore (The parent company is based in Singapore)
Minimum audition fee125 USD
Fees on withdrawalsUnknown
Minimum funded amount10,000 USD
Maximum funded amount200,000 USD (up to 500k with scaling)
Allowed daily loss4%
Profit target12%
Maximum trailing drawdown8%
Profit sharing (Payouts)90%
Trading PlatformscTrader
Available trading marketsForex, commodities, indices, cryptos

The safety and security of PipFarm

PipFarm lacks experience as it was established in 2024, but the trader feedback on Trustpilot is exceptionally positive without any 1-star reviews. This gives the firm credibility and coupled with only a few rules, we can assume PipFarm is a reliable young prop firm that works hard to establish itself as a go-to choice for prop traders. The firm provides trading access via multiple regulated brokers who act as liquidity providers to provide traders with high-quality real-time price data on cTrader advanced trading platforms. Overall, PipFarm seems a very safe and legitimate prop trading firm with high values and fair practices.

PipFarm Fees and spreads

The spreads on Forex major pairs start from 0 pips and there are commissions of 6 USD per lot round turn. These commissions and spreads are within the industry average and offer competitive Forex trading conditions.

As for the one-time fees for each seed funding amount:

  • 10,000 USD — 125 USD
  • 20,000 USD — 225 USD
  • 50,000 USD — 475 USD
  • 100,000 USD — 875 USD
  • 200,000 USD — 1675 USD

As for non-trading commissions, the withdrawals charge no fees, which is a very positive sign.

PipFarm Accounts, deposits, and withdrawals

PipFarm has only a one-stage challenge program which is very flexible as traders have to just meet criteria by hitting profit goals without complicated rules and hidden criteria. The profit target for all funded accounts is the same, 12%.

Here is the profit targets list with the corresponding funding amounts:

  • 10,000 USD — 25,000 USD max funding — 1,200 USD profit target
  • 20,000 USD — 50,000 USD max funding — 2,400 USD profit target
  • 50,000 USD — 125,000 USD max funding — 6,000 USD profit target
  • 100,000 USD — 250,000 USD max funding — 12,000 USD profit target
  • 200,000 USD — 500,000 USD max funding — 24,000 USD profit target

As for deposits and withdrawals, traders pay a small fee to buy a challenge and after passing the valuation can start trading on funded accounts for profits. Withdrawals charge 0 USD fees and are processed within 24 hours.

Trading Platforms

PipFarm cTrader is an advanced trading platform with a multitude of built-in indicators and support for custom indicators and automated trading algorithms. The firm provides high-quality price data supported by multiple regulated brokers who act as liquidity providers. cTrader is a very popular trading platform, and PipFarm offers an advantage to its prop traders by allowing trading on this particular platform.

Deposits and Withdrawals

There are no deposits at PipFarm as traders try to pass a challenge and get a funded account. Trading on large accounts is possible through funded programs and allows traders only to pay small fees and control large trading power.

Trading assets and features of PipFarm

PipFarm allows access to diverse financial markets, including:

  • 6 metals, including Gold
  • 3 energies including oil
  • 10+ Forex pairs
  • 14 indices
  • 6 crypto assets including BTC and ETH

The spreads start from 0.0 pips, which allows traders to deploy scalping strategies to quickly profit from short-term price movements.

The unique ranking system allows traders to get leveled up and get additional benefits spread over 12 different ranks:

  • Rank 1 — No longer stop loss requirements
  • Rank 2 — extended inactivity period from 14 days to 28 days
  • Rank 3 — Series D funding to increase maximum funding even further
  • Rank 4 — 50% lower commissions
  • Rank 5–1:50 leverage
  • Rank 6 — Payouts allowed at any time (processed under 24 hours)
  • Rank 7 — Daily loss increased from 4 to 5%
  • Rank 8 — 10% capital added to funded account
  • Rank 9 — only 15 days between each scaling (instead of standard 30)
  • Rank 10 — Free 100k test account
  • Rank 11 — Absolute drawdown calculator changes from relative to absolute (fixed risk allowance)
  • Rank 12 — Double scaling unlocked

Trader’s dashboard is another useful feature of PipFarm allowing minor progress in real-time through one web platform.

PipFarm Customer Support Review

PipFarm offers its traders 24/7 high-quality support in case they need to solve any issues. This is because the firm allows crypto traders to access markets 24/7 and hold positions overnight or over the weekends. The support is provided via live chat and email support, and personnel are very well-trained.

PipFarm Education

While there are very few educational resources, PipFarm provides FAQs and a trader’s blog. In these sections, the firm provides detailed information and guides about its services, rules, and many other useful aspects of prop trading.

Should you consider PipFarm?

In the end, PipFarm is a young but reliable prop trading firm, offering profitable traders large funded accounts for few rules and very low fees. These fees can be reduced further by a 25% discount on the first purchase. The firm has a 90% profit-sharing model, allowing traders to keep 90% of profits made on funded accounts. Offered assets include Forex pairs, crypto assets, indices, and commodities, and all are available on the PipFarm cTrader advanced platform.

PipFarm Review 2024: Young but reliable Forex prop trading firm (2024)

FAQs

What is the most honest prop firm? ›

FTMO. FTMO ranks highly with its transparency, profit-share, and trading conditions, placing it among the most competitive and honest prop trading firms.

Which is the best prop firm for forex? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • The 5%ers.
  • Funded Next.
  • Funded Trading Plus.

Which prop firm has the quickest payout? ›

Who offers the quickest payouts among prop trading firms? FunderPro stands out for its rapid payouts in the prop trading industry. With some competitors taking weeks to process payouts, FunderPro prioritizes swift transactions, ensuring traders receive their earnings promptly.

How many traders fail prop firms? ›

They're given harsh targets, limited time, no support, and huge leverage – a perfect storm! It's not surprising that 95% of traders fail their challenges!

What is the most trusted prop firm in 2024? ›

The 7 Best Prop Trading Firms for 2024: Most Trusted, Best Promos, Best trading conditions
  • Review Summary.
  • My Top Pick: Topstep Futures – 9.4/10 (Best Current Promotion) Pros. ...
  • #2: The 5%ers – 9.2/10. ...
  • #3 FTMO – 9.0/10. ...
  • Interlude: Note on prop firms #4-#7.
  • #4 Lux Trading- 8.7/10.
  • #5: Funding Pips- 8.3/10.
  • #6 MyFundedFX – 8.1/10.

Which prop firm is better than FTMO? ›

FTMO 's top competitors in June 2024 are: FunderPro, the5ers and more. FunderPro is currently rank as the number one on the list of top Forex Prop Firms.

Which prop firm accepts US clients? ›

The one prop firm that is safe and reliable for US clients: RebelsFunding. RebelsFunding is a prop firm that offers unique trading programs for forex traders. They provide traders with training accounts that they can use to trade and earn commission without the risk of losing their own funds.

Which is the oldest forex prop firm? ›

{quote} FTMO (unless you are a US citizen), The5ers, and City Traders Imperium are the three oldest prop firms, and probably the only ones with 5+yrs reputable history of reliable payouts. I'd start with those three.

Which prop firm offers instant funding? ›

FTUK is a reputable prop firm with instant funding accounts, which attracts seasoned traders who want to access large trading capital without a lengthy evaluation process. The funding range is from 14k to 5 million USD with a profit share of 80% and maximum leverage of 1:100.

Do prop firms give you real money? ›

In a typical challenge model, the prop firm will give the trader a certain amount of virtual money to trade with. The trader will then have to meet certain profit targets in order to pass the challenge. Once they pass the challenge, they will be given a funded account that they can use to trade with real money.

Is Prop firm worth it? ›

Prop firms are an excellent source of accessing further capital to increase profit potential. Passing a prop firm's evaluation means reaching a profit target while staying within its risk management rules. Prop firms require traders to use their brokers, which can be positive or negative depending on the broker.

Why do 90% of traders fail? ›

Most new traders lose because they can't control the actions their emotions cause them to make. Another common mistake that traders make is a lack of risk management. Trading involves risk, and it's essential to have a plan in place for how you will manage that risk.

What is the best prop firm? ›

Apex Trader Funding is considered the best prop trading firm because they offer competitive funding options, a supportive community, and access to advanced trading technology and tools to help traders succeed in the market.

What happens if you lose money in a prop firm? ›

Proprietary trading firms often provide evaluation accounts where you prove your trading skills. Usually, you pay a one-time fee to enter this “challenge.” If you lose money during this evaluation, you won't owe anything beyond the initial fee.

Is FTMO trusted? ›

Having successfully operated since 2015, we provided thousands of clients with their FTMO Accounts, and in total, we have paid out over $160 million. We've also been featured in Forbes and awarded by Deloitte and EY multiple times.

Do prop firms really pay out? ›

Statistics on Average Trader Payouts

Profit Split: The average prop firm will offer a 80-20 profit split once you become a funded trader. TFT, on the other hand, gives up to a 90% split, — even as high as 95% in some promotions — the highest in the industry.

Are there any regulated prop firms? ›

OANDA, Axi, and Hantec Markets are a few names offering prop trading services and their conventional brokerage services. Interestingly, all these brokerages offer prop trading services under their offshore regulated entities.

References

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