5 Reasons why FundingPips should be your First Prop Firm choice

In the constantly changing world of prop trading, FundingPips stands out as a bright spot for getting funded. The name FundingPips has been making news since it opened on February 9, 2023, at the prestigious 19948-001, IFZA Business Park, DDP Dubai, U.A.E. With its roots firmly set in the United Arab Emirates and led by the visionary CEO Khaled Ayesh, this trading platform has made its mark in the tough world of finance. Aside from its great location and experienced management, what makes FundingPips stand out is its huge social media following—it has over 60,000 followers on Twitter and Discord combined. FundingPips is appealing for more than just its online presence, though. What really sets them apart is the way they handle funding traders. FundingPips offers a unique two-stage funding program that gives traders the power to handle up to $400,000 in funds and upto $2M after scaling. This gives both new and experienced traders a way to reach their financial goals. Let's go over the five strong reasons why FundingPips should be yourf irst prop  trading partner of choice. 

Realistic Challenge Rules:

Many props have surprises and open-ended challenges, but FundingPips only wants real traders and not gamblers. Because the challenge rules are so strict, they can weed out gamblers during the challenge phase, leaving real traders to get funded. This may not be right for all traders, but it will make sure that your withdrawals are always approved once you get funded. These are some of the challenge rules that all traders must follow:

No Stop Loss Rule

Not using a stoploss is one of the major reasons why many traders fail the challenges. It is known that 90% of traders who do not use stoploss fail the challenge. Considering this, FundingPips has a no-stop loss rule, which means every trade you place needs a stop loss. You must have set a stop loss on every trade within 60 seconds of opening the trade. This rule only applies to the master account. If you haven't set a stop loss in 60 seconds, the trade will be stopped on its own. Two times is all you can do to let this happen. Any more than that, and your Master account will be closed. Every week, the stop-loss count will start over.

No News Trading Rule

One more reason why most traders fail prop challenges is that they trade on news. FundingPips lets you hold trades during news events. However, profits from trades started two minutes before and after a major news event that affects a currency will not be counted. Lots of effect When news event trading happens, any gains made from trades made within the 4-minute window will be taken away. This also includes pending orders, like limit and stop orders being hit during times that aren't allowed. The dealing account will not be broken; only the trade(s) will be broken. FundingPips uses ForexFactory for the reference of news. 

No HFT Bots

Any trading methods and EAs used to take advantage of MetaTrader's flaws are not allowed by FundingPips. Some of these are server spamming, layering, gap trading, high frequency trading, martingale trading, hedging, grid trading, long-short arbitrage, reverse arbitrage, tick scalping, server execution, and trading with the opposite account. Another thing is that no one else can handle your account. 

In-house PropTech

Over 100 prop firms are backed by the same tech provider. This means that even if you are a good trader, you could be banned from all of them, leaving you with no choice. FundingPips built their own prop technology from scratch. This in-house technology not only helps FundingPips lower the cost of challenges, but it also gives them more control over the challenges and how they handle risks, KYC, and payouts. 

Budget-friendly pricing

Comparing Funding Pips to other prop firms, its pricing is 25–30% less for the same challenges. Thanks once more to Prop Firm's internal technology. It was made possible to offer challenges at such low prices by in-house technology. In addition to making plans more affordable for novice traders, FundingPips's set of guidelines, which all traders are required to abide by, lessens the likelihood that a trader will fail a challenge. 

As an example, while many prop firms charge $49 for a basic $5,000 two-phase challenge, FundindPips can offer the same challenge for $32 in the absence of any offers. 

Drawdown and leverage are not compromised, even at low prices. FundingPips offers a 5% daily drawdown and a 10% overall drawdown. You get a 1:100 leverage from Fundingpips. 

Fair Trading Competitons

FundingPips, in contrast to many other companies, also hosts trading competitions, but there is a catch. Every month, competition participation is limited to 5000 individuals. When participating in the trading competition, there are numerous rules that you must abide by. Although many props permit gamblers to participate in trading competitions, FundingPips makes sure that there are no gamblers present. The likelihood of a trader winning a challenge account is increased by this fair competition, since they are up against actual traders rather than gamblers, who are unbeatable. 
Trading Competition Rules

• 10% Max Overall Loss
• 5% Max Daily Loss
• Max 5 Lots open at any given time
• Max 5 positions open at any given time
• EA execution is prohibited

Prise pool for this competition

• 1st place: 100K Evaluation (+$1500)
• 2nd place: 100K Evaluation (+$1200)
• 3rd place: 100K Evaluation (+$1000)
• 4th place: 100K Evaluation
• 5th place: 50K Evaluation
• 6th / 10th: 25K Evaluation
• 11th / 20th: 10K Evaluation

Other Benefits of Funding Pips

No Time Limits

While many prop firms switched to no time limits in 2023, many more still had time limits of 30 or 60 days. Additionally, many more affordable props come with extra addons that cost 25% in addition to having no time limits. You can take your time to complete a challenge because FundingPips has no time restrictions.

Note: If any trading account is inactive for 30 days it will be automatically suspended.

No Minimum trading periods

There are no trading day minimums or maximums. Many props have minimum trading rules that must be followed for three or seven days, but FundingPips does not have any, so you can complete the challenge right away in a day. 

Low Commissions

FundingPips has a commission of $3 per lot, round table on EUUSD along with little spread. You can manually check the Spreads and Commissions by using the credentials berlow:

 

5-Day Payout Cycle

Numerous Props have a 30-day payout cycle, which raises the possibility that a trader will lose a challenge after funding. In actuality, this benefits most props because the trader is more focused on making more money. With FundingPips, on the other hand, payout cycles are only five days, so you are eligible for a payout each weekend. 

No Consistency Rule

One of the most popular rules among Prop Firms is the consistency rule. Your IP, devices, risk size, or even a frequent change in Pairs could all be grounds for banishment. At FundingPips, there are no such guidelines for consistency. That is, you are free to trade all you like. 

Note: Before purchasing the challenge, it is advised to double check with Prop Firm as some information may change over time.

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