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Info
Popularity & Trust
Trust Pilot Reviews: 15183
Trust Pilot Rating: 4.3
Last Update: October 28, 2024
Exist: 1.9 Years
Trust Score: 7.6 / 10*
The more reviews and the longer the firm existed will increase its Trust Score
Challenge Value
PRICE RATING
10K Fee: $66
25K Fee: $156
50K Fee: $266
100K Fee: $444
Price Score: 80*
The Price Score is calculated comparing 10K, 25K, 50K and 100K challenge costs. The average challenge Price Score is around 100. A lower number is better and means cheaper challenges.
DIFFICULTY RATING
P1 Target: 8%
P2 Target: 5%
Max Drawdown: 10%
Max Daily DD: 5%
Difficulty Score: 1.3*
Difficulty Rating is calculated on your total drawdown % compared with your total target %. Lower is better
VALUE RATING
Value Rating: 10 / 10*
The Value Rating is a combination of the cost of the challenges and the difficulty of passing the challenge. The best Value Rating has a score of 10 and the lowest a score of 1
VALUE NOTES
At the time of writing, Funding Pips has the best challenge value. It has very low fees and with only 8% first target and a 10% max drawdown, it has some of the easier 2-step challenge requirements.
Rules & Restrictions
Leverage: 100:1
Daily Drawdown Type: 🙁 Equity / Balance
Challenge Time Limit: 😀 No Time Limit
News Trading: ❌ No (Auto Close)
Hold Weekends: ❌ No (Auto Close)
EA's : ✅ Some Allowed
NEWS TRADING
During the challenge phase you can trade news and weekends, but on Live accounts trades entered or closed 5mins before or after high impact news will be closed and profits removed. This includes TP and SL trades, unless the trade was opened more than 5 hours before news. More info: https://help.fundingpips.com/en/articles/8535998-can-i-hold-trades-during-the-news-and-over-the-weekend
EXPERT ADVISORS
Some EA’s are allowed. For more info: https://help.fundingpips.com/en/articles/8536000-what-are-the-forbidden-strategies
*Please visit the firms website for updated terms & conditions
Trade Costs
FOREX SPREAD
FX Commission: $2
EU Spread: 1
UJ Spread: 3
UF Spread: 4
FX Spread Score: 4.7
INDEX SPREAD
Index Commission: $0
NAS Spread: 170
S&P Spread: 34
DOW Spread: 120
Index Spread Score: 10.8
SWAP FEES
Swap Score -96
SUMMARY
Funding Pips has excellent spread on Forex pairs and is recommended for Forex Day Traders and Scalpers. The index spread is pretty average and the swap fees are high. This Firm is not recommended for Swing Traders.
Payouts & Scaling
Fee Refund: None
Simulated Share: None
Profit Share: 80%
Scaling: ✅ Yes*
Merging: 😃 Yes
Max Combined Accounts: $300000
PROFIT SHARE
To achieve 100% profit share you have to qualify for the Hot-Seat program, which requires 16 payouts. More info: https://help.fundingpips.com/en/articles/8536004-what-is-the-hot-seat-program
SCALING
Scaling after every 4 payouts (which happens weekly). This increases capital and max drawdown. More info here: https://help.fundingpips.com/en/articles/8536002-how-does-the-scaling-plan-work
MERGING
Accounts can be merged up to $300 000. More info: https://fundingpips.com/faq/How-big-will-the-capital-be-that-I-manage/
PAYOUTS
Weekly payouts up to $500 can be processed via Crypto. Payouts above $500 gets processed via Rise. More info: https://help.fundingpips.com/en/articles/8536003-how-big-can-the-capital-be-that-i-manage
Please visit the firms website for updated terms & conditions
Pro’s & Con’s
✅ PRO’S
⭐ Great FX Spread ✅ Good Index Spread ⭐ Very Low Challenge Fees ⭐ Easiest 2-Step Challenge ⭐ Best Challenge Value ✅ No Challenge Time Limit ✅ Some EA’s Allowed* ✅ Merging Allowed* ⭐ Weekly Payouts ✅ Crypto Payouts
❌ CON’S
❌ Slightly High Swap Fees ❌ Daily DD Highest Equity/Balance ❌ News Trading Not Allowed (Auto Close) ❌ Hold Weekends Not Allowed ❌ No Fee Refunds
Summary & Rating
THE UPSIDE
Funding Pips has the cheapest Challenge Fees and highest Challenge Value of all the firms at the time of writing. It has a good scaling plan, and weekly payouts. CTrader is supported with this firm.
THE DOWNSIDE
The Daily Drawdown rule makes this not suitable for swing trading. Even though you wont be disqualified, you are not able to trade 2mins before or after news and you also can’t hold over the weekend. Even though the firm has some of the cheapest challenge fees, there is no refund on passing. There is also no MetaTrader support
IN SUMMARY
Even though this broker is not suitable for swing trader or news trading, it has the lowest Challenge Fees and Challenge Value in the business. It might not support MetaTrader anymore, but CTrader is a worthy replacement. The weekly payouts is a big positive as well and it also boasts a pretty decent scaling plan. I have processed several payouts with this firm without issues and I have to rate this a Tier 1 option
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