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.

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.

That result should look catastrophic for anyone who hopes to join a prop firm. The article from Lux Trading Firm provides slightly different results. According to it, 4% of traders, on average, pass prop firm challenges. But only 1% of traders kept their funded accounts for a reasonable amount of time.

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.

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 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). The value of one pip is always different between currency pairs because of differences between the exchange rates of various currencies.

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.

However, most experts agree that between 1 to 10 pips per day is a reasonable goal for most traders. As for trading 0.05 lots per every 100 dollars capital, this is generally considered to be a safe amount. This is because it allows for proper risk management while still providing a good opportunity for profit.

Who is CEO of funding Pips? ›

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.

The company is located at Premises NO. 19948-001, IFZA Business Park, DDP Dubai U.A.E .

The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy. In this article, we'll break down the 6 most common reasons traders fail prop firm challenges and what you can do to avoid this happening to you.

Becoming a funded trader with a prop firm involves showcasing your trading skills and adherence to risk management during an evaluation process. While the difficulty can vary, it's achievable with consistency, dedication, and a solid trading approach.

According to FTMO statistics, only about 10% of traders are able to pass the funded account challenge at any account level. This means approximately 90% of aspiring funded traders fail the evaluation and are unable to gain access to the firm's capital.

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.

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.

The interest payments on your loan can be as high as 5000%, with a $450 loan returning about $8,800 in 24 months. "Everyone should be aware of these Ponzi schemes because they are essentially investment fraud," said Márquez. "If it sounds too good to be true, it usually is."

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.