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

Are prop firms worth it? ›

Is working with a prop firm worth it? There are many unique advantages that make working with a prop firm worth it. These include access to unique software and information, trading with the firm's capital, and cashing in a large portion of your winnings.

Do prop firms use real money? ›

Since proprietary trading uses the firm's own money rather than funds belonging to its clients, prop traders can take on greater levels of risk without having to answer to clients.

What are the negatives of prop firms? ›

- Traders in prop firms often have limited control over the firm's capital. They may need to deposit their own money as collateral or risk management. - Additionally, payouts are subject to the firm's rules, which may restrict a trader's access to profits.

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

Profits from trades are generally divided between the firm and the prop trader; however, the risk distribution is asymmetric. This means that in the event of a loss, the trader bears 100% of the losses, while they don't receive 100% of the profits.

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.

How much is a 100k prop firm challenge? ›

With prop firms, you buy a challenge for $500, and you're able to pass it. You will then be funded with $100,000 with a maximum loss of 12% or $12,000. With proper risk, you can make even the $500 back in a flash.

Which prop firm has zero fees? ›

1. FXIFY [Commission: $0] At the forefront of cost-saving measures is FXIFY, a prop firm that boasts zero commissions on forex trades. The offering helps traders who want to keep overheads to an absolute minimum.

How to check if a prop firm is legit? ›

Review The Evaluation Criteria

Legit prop firms don't offer capital to just anyone. To get funded, you'll need to complete a 1 or 2-Step challenge process that puts your trading to the test. Prop firms that are legit require specific profit targets, requirements, and maximum drawdowns that you must adhere to.

How much money do you need to start a prop firm? ›

To summarize, the amount of money you need to open a prop firm can range from $10,000 to $1 million, depending on the type of prop firm, the technology, the registration, the liquidity, and the CRM tool.

Do prop firms copy your trade? ›

The prop firm will then copy the trades using a combination of automated and discretionary decision-making to execute the trades for real, enabling them to make a profit or loss without any risk to the trader.

Which prop firm is better than FTMO? ›

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

Is FTMO the best prop firm? ›

One of the main reasons why FTMO is a good prop firm is their investment options. They offer traders the opportunity to trade with their own capital, as well as access to additional capital from FTMO.

What prop firm pays the fastest? ›

Funding Pips and Maven lead the rankings with the most frequent pay-outs, offering transactions every 5 days. Close behind, Traddoo and Funded Trading Plus offer weekly pay-outs. Smart Prop Trader, with its 12-day pay-out cycle, caters to those with a trading style that can accommodate less frequent access to funds.

How do I choose a prop firm? ›

Don't just pick the first prop trading firm you find. Choose one with a good reputation, support for traders, good tools, safety measures, fair costs, and a friendly community. This way, you can trade smarter and have a better chance at success.

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