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.

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.

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.

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.

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.

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.

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.

However, Any Trading activities that are used to take advantage of trading platform inefficiencies (Gap trading, high frequency trading, server spamming, latency arbitrage, toxic trading flow, hedging, long short arbitrage, reverse arbitrage, tick scalping, server execution, opposite account trading) are all prohibited ...

How to get 50 pips per day? ›

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.

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.