Prop Trading Firm Funding Pips Eyes US Market after Match-Trader Migration (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.

Once the trader receives a 'Hot Seat' at the firm, they can trade up to $2 million with on-demand payouts and a monthly bonus. Read more about our Scaling Plan. Request your payouts on a 5 trading days basis with a 80% profit split.

The verification can be done via the dashboard (Settings > Verify). Additionally, a notification will be 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.

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.

This decision has caused some prop firms to face challenges and has raised concerns about the future of prop trading. Proprietary trading, or prop trading, involves trading financial instruments using a firm's own capital. These firms hire traders who trade on behalf of the firm, aiming to generate profits.

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.

To implement the 50 pips a day strategy, traders usually set a profit target of 50 pips and a stop loss to limit potential losses. They carefully monitor the market and open positions when they believe there is a high probability of achieving the target profit.

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.

Yes, Match trader is a reputable broker with a track record of reliability and positive user feedback.

What is the best pips for take profit? ›

This measure shows how much profit a trader anticipates in exchange for a risk of a limited loss. In general, the best ratio is 1:3, so the profit should be 3 times bigger than the loss. For example, if your Stop Loss equals 50 pips, the Take Profit should be 150 pips.

The minimum amount for a payout is 1% of the initial balance including our split. A trader is eligible to receive a monthly payout after 30 days of the first executed trade on the Master account, aka Funded account. The first 30 days will have a 50% profit split applied.

The disruption of services occurred after Funding Pips' only brokerage partner, Blackbull Markets, terminated its partnership. A Blackbull representative confirmed that MetaQuotes, forced the broker to stop providing services to Funding Pips.

Please note that FTMO does not provide services to persons in/from (both nationals and residents) Iran, Syria, Myanmar, North Korea and USA, persons listed on sanction lists, persons with criminal records related to financial crime or terrorism, and persons previously banned because of breach of contract.

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.

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.

This rule is set to 10% of the initial account size. For example, if the trader has a $100.000 account and the Maximum Loss Limit is 10%, the equity or balance can't go below $90.000 at any moment. You are allowed to hold trades over the weekend and trade during the news in the evaluation stage.

The MetaQuotes move indicates that the company is very cautious when it comes to offering services using its platform to US clients. The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.