PipFarm Review
PipFarm is a proprietary trading firm founded by industry veteran James Glyde. It offers a streamlined path to funded accounts through a single-stage evaluation process and provides flexible trading conditions, account sizes ranging from $5,000 to $200,000, and innovative features like the XP (Experience Points) program.
PipFarm Review
Summary
PipFarm is an innovative proprietary trading firm that offers traders the opportunity to access significant funding through a streamlined evaluation process. Founded by industry veteran James Glyde, PipFarm stands out with its unique approach to prop trading, combining flexibility, advanced technology, and trader-centric features.
The firm offers a single-stage evaluation program, which sets it apart from many competitors. Traders can choose between two account types: a static drawdown account with a 6% maximum loss limit, or a trailing drawdown account with a 12% limit that adjusts based on account equity. Both account types require traders to achieve a 12% profit target while adhering to a 3% maximum daily loss rule. This structure allows for a balance between opportunity and risk management.
The firm’s approach to trading conditions is notably flexible. They allow news trading, weekend holding, and even automated trading strategies. This openness, combined with a leverage of up to 1:30, provides traders with ample room to execute their preferred trading styles.
PipFarm exclusively uses the cTrader platform, known for its advanced charting capabilities and user-friendly interface. The platform supports a wide range of tradable instruments, including forex pairs, metals, energies, indices, and cryptocurrencies. Traders can employ various strategies, including news trading and algorithmic trading, with the exception of high-frequency trading.
One of PipFarm’s standout features is its Experience Points (XP) program, which gamifies the trading experience. Traders earn XP for various achievements and can unlock power-ups such as faster payouts and higher profit shares. This innovative approach adds an extra layer of engagement and motivation for traders.
The firm also offers a competitive scaling program, allowing successful traders to increase their funding by 50% every 30 days, potentially reaching up to $500,000 in capital. Profit splits start at 70% and can increase to 90% based on performance, making it one of the more generous offerings in the industry.
PipFarm’s commitment to trader success is evident in its risk management tools, including a “Kill Switch” feature for automated position closing, and its flexible trading conditions. The firm provides 24/7 customer support through multiple channels, ensuring traders have assistance whenever needed.
Let’s examine the prop’s features and conditions in more detail to gain a comprehensive understanding of what PipFarm offers.
PipFarm Review
Programs
PipFarm offers a unique blend of evaluation programs designed to cater to traders of various skill levels and preferences. Let’s dive into the specifics of each program and discover which one might be the perfect fit for your trading journey.
Two-step Evaluation
PipFarm’s Two-step Evaluation is a traditional prop firm challenge designed for traders who prefer a structured approach to funding. This program consists of two phases, each with its own set of requirements. In the first phase, traders must achieve a 6% profit target while adhering to a 3% maximum daily loss and a 9% maximum overall loss rule.
There’s no maximum trading day limit, but a minimum of 3 trading days is required to advance to the second phase. The second phase maintains the same profit target and loss limits as the first phase. After successfully completing both phases, traders become eligible for a funded account. This program offers account sizes ranging from $5,000 to $300,000, with leverage up to 1:30 (which can increase to 1:50 with the 50 XP milestone). Funded traders enjoy a profit split between 70% to 90%, with the opportunity to scale their account size by 50% every 30 trading days upon reaching a 12% profit target.
Static Evaluation
The Static Evaluation is PipFarm’s one-step program, catering to traders who prefer a single-phase challenge. In this evaluation, traders must reach a 12% profit target while observing a 3% maximum daily loss and a 6% maximum overall loss rule. The program requires a minimum of 3 trading days and allows a maximum trading period of one year. Like the Two-step Evaluation, account sizes range from $5,000 to $300,000, with the same leverage options and profit split percentages. This program offers a straightforward path to funding for traders who can demonstrate consistent profitability over a single, more challenging phase.
Trailing Evaluation
The Trailing Evaluation program offers a unique approach by incorporating a trailing drawdown mechanism, which adjusts based on account equity. This one-step evaluation requires traders to achieve a 12% profit target while adhering to a 3% maximum daily loss. The trailing drawdown provides more flexibility as it moves up with the account’s equity, allowing traders to lock in profits while managing risk effectively. Like the Static Evaluation, traders have up to one year to reach their profit target and must trade for a minimum of three days to qualify for funding.
Account sizes range from $5,000 to $300,000, with profit splits from 70% to 95%. This program is particularly suited for traders who prefer dynamic risk management and the ability to capitalize on profitable trading periods. The Trailing Evaluation, like the other programs, offers leverage up to 1:30 and scaling opportunities to increase funding by 50% every 30 trading days upon achieving set profit targets.
PipFarm Review
Conditions
Trading conditions can make or break your success as a prop trader. Here’s a closer look at PipFarm’s rules and requirements that shape your trading journey.
Drawdowns
PipFarm provides traders with two drawdown options to manage risk: a 6% static drawdown and a 12% trailing drawdown. The static drawdown sets a fixed limit, preventing your account equity from dropping more than 6% from its highest point, regardless of how much your account balance increases. In contrast, the trailing drawdown offers more flexibility by adjusting upward with your account’s equity. As your account grows, the drawdown limit increases too, giving you additional space to maneuver and manage your trades effectively as your equity rises.
Payouts
PipFarm has a straightforward payout process designed to reward traders efficiently. You can request your first payout after completing just three trading days, and then every 14 days after that. The profit split starts at 70% and can increase up to 90% once you achieve a 12% profit target in your funded account. Payouts are processed through Riseworks, a platform that handles the payment transactions. This system ensures that traders receive their earnings promptly and can focus on their trading activities without worrying about delays in payment processing.
Trading Days
PipFarm offers a lot of flexibility when it comes to trading strategies. They support a wide range of styles, including algorithmic trading with cBots. You’re free to trade during news events and can even hold positions over the weekend, allowing you to implement your strategies with minimal restrictions. However, it’s important to note that high-frequency trading and copying other traders’ strategies are not allowed, so you’ll need to ensure your trading activities align with these guidelines.
Trading Strategies
PipFarm is quite accommodating when it comes to trading strategies. They allow most styles, including algorithmic trading using cBots. You can trade during news events and hold positions over weekends, giving you the freedom to execute your strategies without many restrictions. However, they do prohibit high-frequency trading and copying other traders’ strategies, so you’ll need to keep your trading within these guidelines.
Scaling Plan
PipFarm’s scaling plan is designed to empower traders by providing a clear and straightforward path to increase their trading capital. The program allows traders to qualify for an additional 50% funding every 30 days, provided they meet specific targets. To qualify, a trader’s account must be at least 30 days old and achieve a profit of over 12%. This seamless scaling process means that traders do not need to undergo additional tests before receiving more funding. The scaling plan is transparent and comes with no hidden conditions, allowing traders to focus on their strategies without worrying about compounding their profits. Instead, profits are distributed before each funding round, ensuring that traders can increase their exposure without risking their earnings. The scaling program can boost a trader’s initial seed funding by up to 300%, with account levels increasing in increments from Level 1 (Seed) to Level 5 (Series D). This means traders can potentially trade with up to three times their original funding, maximizing their potential without increasing risk. PipFarm’s scaling plan is an excellent opportunity for traders to grow their accounts significantly in just 120 days.
Refund
PipFarm’s refund policy is clear and straightforward. According to their FAQ, they do not offer refunds for the challenge fee. The fee is considered payment for a service provided, regardless of whether you pass or fail the evaluation. It’s not treated as a deposit that can be returned. However, there is some flexibility in their policy. According to their Terms and Conditions, if you purchase a Screening Test and decide to cancel, you may be eligible for a refund if you cancel within 5 calendar days. For traders who don’t pass the evaluation, PipFarm allows them to retake the test as needed. This means that while you can’t get your money back, you do get additional chances to qualify for a funded account without paying extra fees. It’s important for traders to be aware of these terms before signing up for the evaluation process.
PipFarm Review
Features
| Maximum capital | $300,000 |
| Profit split | Up to 90% |
| Scaling | Yes |
| News trading | Yes |
| Weekend trading | Yes |
| Automated trading | Yes |
| Free trial | No |
| Maximum leverage | 1:30 |
PipFarm has packed its platform with a range of features designed to enhance the trading experience and support traders in their quest for success. Let’s take a closer look at the features that set PipFarm apart from the competition.
Trading Platform
PipFarm has chosen cTrader as their exclusive trading platform, and it’s a solid pick. cTrader is known for being reliable and packed with advanced features that traders love. It’s got a user-friendly interface that won’t leave you scratching your head, plus some pretty powerful tools for technical analysis and keeping your trades in check. Whether you prefer to trade from your computer or on-the-go with your phone, cTrader got you covered with both desktop and mobile versions.
The platform supports a wide range of order types and offers real-time market data, which is crucial for making informed trading decisions. Plus, it’s compatible with algorithmic trading, so if you’re into using trading bots, you’re all set. Overall, cTrader provides a smooth and comprehensive trading experience that caters to both newbies and seasoned traders alike.
Leverage
PipFarm offers up to 1:30 leverage on most trading products. This means you can control a larger position with a smaller amount of capital, which can amplify your gains (or losses). It’s a nice touch for those who want to maximize their trading potential without any exposure restrictions holding them back.
Support Offered
PipFarm offers a range of support options to help traders out whenever they need it. You can reach their team through live chat on their website, which is super handy for quick questions. They’ve also got an active presence on Discord and Telegram, so you can connect with them and other traders in these communities. If you prefer, you can always shoot them an email too. Their support team is known for being pretty quick to respond and genuinely helpful, which is great when you’re dealing with time-sensitive trading issues.
Knowledge Base
PipFarm equips traders with an extensive knowledge base that’s integrated into the cTrader platform, offering a wealth of research and educational tools to help traders make informed decisions and refine their trading skills. Whether you’re just starting out or you’re a seasoned trader, these resources are tailored to enhance your trading experience and boost your knowledge. Additionally, PipFarm offers a blog section on their website, providing articles and insights that further support traders in staying updated with market trends and strategies.
Experience Points (XP) Program
PipFarm offers a unique Experience Pips (XP) Program designed to reward and motivate traders. As you progress in your trading journey, you earn XP for various achievements such as starting a challenge, passing ID verification, completing a challenge, receiving payouts, and scaling up to higher account levels. You can also earn XP by completing monthly quests like making 200 pips in your account or achieving a 5-day profitable streak. As you accumulate XP, you unlock power-ups and rewards that enhance your trading experience. These power-ups can include benefits like faster payouts, higher profit shares, and improved trading conditions. This gamified approach adds an extra layer of excitement to trading, encouraging continuous improvement and engagement with the platform.
Kill Switch Feature
PipFarm provides a “Kill Switch” tool that automatically closes all positions when a specified equity level is reached. This feature helps traders manage risk and prevent breaching daily or maximum loss limits.
PipFarm Review
Conclusion
PipFarm seems like a solid choice for traders looking to dive into the prop trading world. With its flexible evaluation programs, generous profit splits, and a cool scaling plan, there’s a lot to like here. The exclusive use of the cTrader platform is a big plus, offering a reliable and feature-rich trading experience. Plus, their XP program adds a fun twist to keep you motivated. On the flip side, just keep in mind the drawdown rules and the fact that there’s no refund on the assessment fee. Also, make sure your trading style fits within their guidelines, especially if you’re into high-frequency trading, which they don’t allow. Overall, if you’re ready to commit and play by the rules, PipFarm could be a great place to grow your trading skills and capital.
PipFarm Review
