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.

Funding Pips's software is constantly monitoring the activities of traders, and a breach of any rule will result in account suspension. A trader is eligible to request a payout every 5th day after the first executed trade on the funded account. There will be an 80% profit split applied.

cTrader does not offer its services to United States residents due to regulatory reasons.

The FTMO challenge has a reputation for being extremely difficult to pass. Across FTMO's various account levels, it is estimated that only around 10% of traders are able to successfully complete the evaluation and become a funded trader. This means approximately 90% of those who attempt the challenge end up failing.

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.

In your dashboard on our website, you can see "Payouts" in the menu. By filling in this form you can request your payout.

The verification can be done via the dashboard -> settings -> verify, there will also be a notification on top of your dashboard notifying you about the verification. The verification and approval just take a couple of minutes. After our partner approves your KYC verification, we'll draft a customer agreement for you.

Recently, Funding Pips transitioned from MetaTrader to Match-Trader, signaling a shift towards targeting traders in the US market. This move happened in response to regulatory challenges posed by MetaQuotes' licensing policies and reflects the challenges currently faced in the proprietary trading industry.

FTMO have now restricted access to all new US-based traders as of January 2024. This appears to be related to regulatory issues and may have something to do with the recent My Forex Funds case.

Does FTMO use cTrader? ›

In addition to the MetaTrader platform, FTMO also allows traders to use the cTrader platform.

The most common reasons traders fail prop firm challenges are simply overleveraging their trades, not understanding the rules, and not having a profitable trading strategy.

There is estimated to be a 90% fail rate of traders that take the FTMO challenge. The reason behind this is due to traders chasing the profit target with a time restriction in place. A trader doesnt know when a winning streak might occur, or when they may take a string of drawdowns.

ALL PAYMENTS ARE FINAL AND FOR EVALUATION PURPOSES ONLY.

The Customer is not entitled to a refund of the registration fees as the service is directly delivered after purchase. No refund applies to the service that Funding Pips offers.

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.

In your dashboard on our website, you can see "Payouts" in the menu. By filling in this form you can request your payout. If you fill in this form the connected trading account will be switched to view-only mode until the payout is processed, therefore all trades have to be closed.

Recently, Funding Pips transitioned from MetaTrader to Match-Trader, signaling a shift towards targeting traders in the US market. This move happened in response to regulatory challenges posed by MetaQuotes' licensing policies and reflects the challenges currently faced in the proprietary trading industry.