The PipFarm 1-Step Challenge offers a simple yet effective way to prove your trading skills and secure funding. Unlike other challenges that involve multiple phases, this one is straightforward and designed for traders who want a faster, more focused approach. Let’s break down what this challenge involves and how you can succeed in it.

What is the 1-Step Challenge?

The 1-Step Challenge from PipFarm is different from many other trading challenges because it has only one phase. You need to hit one specific goal to get funded. This simplicity is attractive to many traders who prefer not to go through multiple evaluation phases.

Profit Target

The goal for the 1-Step Challenge is to achieve a 12% profit on your starting balance. This means that you need to grow your account by 12% to pass the challenge. While this might sound like a lot, there’s no time limit, so you can take your time and trade at your own pace to reach this target.

Daily Drawdown

To manage risk, there is a daily drawdown limit of 3%. This limit is based on your balance at the end of each day. If your balance increases, your drawdown limit also increases. However, if you lose too much on any given day, it can push you closer to breaching this limit.

Max Drawdown

PipFarm gives you two choices for managing maximum drawdown: Trailing or Static.

Trailing Drawdown: With this option, your drawdown limit is 12% of your initial balance, and it adjusts upward as your account balance grows. This can help protect your profits as you make them.

Static Drawdown: This option sets a fixed limit of 6% of your initial balance. This means the limit doesn’t change no matter how much your account grows. It might seem stricter, but it can be easier to manage since it doesn’t fluctuate.

If you exceed the max drawdown, you will fail the challenge, so it’s important to manage your trades carefully.

Minimum Trading Days

You must trade for at least 3 days to pass the challenge. This rule ensures that you’re not just making a few lucky trades but are consistently demonstrating your trading skills.

Maximum Trading Days

Even though you can take as long as you need to hit the profit target but keep in mind that Pipfarm only allows maximum of 365 Days. This is a sufficient amount of time for any trader to show their skills and pass their challenge account.

Profit Share

Once you’re funded, you start with a 70% profit share. This means you keep 70% of the profits you make, while PipFarm takes 30%. However, you can increase this profit share up to 90%. Each time you withdraw at least 3% of your profits, your share of the profits goes up. This gives you an incentive to keep making and withdrawing profits.

Payout Frequency

The First Payout a trader can receive is right after 3 trading Days and after that trader will receive your profit share every 14 days as a standard. However, with the Power Ups plan, you can withdraw your profits whenever you want. This flexibility is great for traders who need quicker access to their funds.

Leverage

PipFarm offers different leverage options:

1:30 for FX pairs

1:30 for indices

1:5 for crypto

Leverage lets you control larger positions with a smaller amount of money. While it can increase your potential profits, it also comes with higher risks, so it’s important to use it wisely.

News Trading

PipFarm allows trading around major news events. This is beneficial if you like to trade based on market-moving news, as there are no restrictions on how you can trade these events.

Holding Trades Overnight and Over the Weekend

You can hold trades overnight and over the weekend. However, keep in mind that the accounts are not swap-free, so you’ll incur overnight fees. It’s up to you to factor these costs into your trading strategy if you plan to keep trades open for longer periods.

Account Sizes

PipFarm offers several account sizes to choose from:

$5,000

$10,000

$20,000

$50,000

$100,000

$200,000

Choosing the right account size depends on your trading style and risk tolerance. Larger accounts offer more flexibility but also come with higher risks.

Tips for Passing the 1-Step Challenge

To succeed in the 1-Step Challenge, set clear profit goals and manage your risk carefully. Consistent trading and smart use of leverage are crucial. Also, plan your trades around the minimum trading days requirement and think about how you can consistently withdraw profits to increase your profit share.

Conclusion

The PipFarm 1-Step Challenge is a great option for traders who want a simple, single-phase challenge with flexible trading conditions. Understanding the profit target, drawdowns, trading days, and other key factors will help you prepare and succeed in the challenge. Whether you prefer a faster or more measured approach, this challenge offers a straightforward path to funding.