Introduction
In our latest review we’re taking a look at PipFarm, which is a fast growing prop firm where traders can get funded with up to $300K in simulated funds, and trade a wide range of instruments on the cTrader platform.
Led by CEO James Glyde, and operating out of Singapore, PipFarm was founded in 2023 and is building a strong reputation amongst traders with a Trustpilot score of 4.6 from more than 190 reviews.
First impressions of PipFarm are really good, their website is excellent, and they have some unique features such as a an XP program and different funded account types to suit different trading styles.
Funding Programs
The funding program at PipFarm consists of one step and two step evaluation options, and the maximum initial funding allocation per trader is $300K.
Account sizes for both evaluation options range from $5K to $300K, and there are different variations of min days or consistency rules to choose from, which are named ‘Endurance’, ‘Consistency’, and ‘Classic’.
Endurance
Endurance accounts require the trader to complete a number of profitable days to pass each evaluation phase and between each payout. For a day to count as profitable the trader must make 0.5% profit, and the number of profitable days required is different depending on the chosen account size – for example, the $5K account requires two profitable days, and the $300K account requires five profitable days.
Consistency
Consistency accounts require the trader to meet a consistency score to pass each evaluation phase and qualify for payouts. Consistency scores range from 50% for $5K accounts to 20% for $300K accounts.
Classic
Classic accounts require the trader to complete a number of trading days to pass each evaluation phase and between each payout. The number of minimum trading days ranges from two for the $5K accounts to five for the $300K accounts.
Note: the different account types affect the prices of the bigger accounts. The $5K accounts are priced at $50 regardless of the chosen type, but for example the $300K accounts range from $1350 to $1750 depending on which account type is chosen.
One-Step
- Profit target to pass: 12%
- Maximum loss limit: 6% static OR 9% trailing
- Daily loss limit: 3% (based on previous EOD balance)
- Max leverage: 1:30
- Profit split: 70-95% (depending on XP level)
- Time limit: 1 year
- Inactivity rule: 28 days
Two-Step
- Stage one profit target: 9%
- Stage two profit target: 6%
- Maximum loss limit: 9%
- Daily loss limit: 3% (based on previous EOD balance)
- Max leverage: 1:30 Inactivity rule: 28 days
- Time limit per evaluation phase: 1 year
- Profit split: 70-95% (depending on XP level)
Payouts
A payout for each trader is automatically scheduled for every Friday. The trader does not need to request payouts, but if they have multiple accounts they must specify which account they want to be paid from otherwise the account with the highest profit will automatically be prioritised.
The minimum withdrawal amount is 1% for Endurance & Consistency account types, and 3% for Classic accounts.
PipFarm will even pay traders who have breached their account whilst still in profit, provided the account meets the usual withdrawal requirements such as min days, consistency score, and minimum profit split amount.
Payouts can be made via Rise, Skrill, or crypto.
News Trading Restrictions
No restrictions, traders are free to trade news events.
Kill Switch
PipFarm offers their traders a handy feature called ‘Kill Switch’, which is a function on the trader dashboard that allows the trader to set stop loss and equity target levels that if reached will force all open positions to close automatically.
Scaling Plans
Scaling plans at PipFarm come in to types: ‘Smart’ and ‘Simple’. Accounts can scale up to 8 times, with the maximum scaled account balance being $1,500,000, which is only achievable on a $300K account with the account scaled 8 times on XP rank 5.
The Smart scaling plan is applied to Endurance and Consistency account types. It automatically scales the account up once the trader reaches 12% cumulative profit on the account. The percentage the account scales up by is dependent upon the trader’s XP rank.
The Simple scaling plan is applied only to Classic account types. It automatically scales the account up once the trader has achieved four payouts from their funded account.
Symbols & Trading Costs
There’s a huge selection of instruments to trade at PipFarm, including Forex, metals, indices, cryptocurrencies, and oil.
Commission is $6 per lot round trip on Forex and Metals, and there is no commission on indices, crypto, or oil.
Trading conditions are good with competitive spreads and excellent trade execution.
Trader Dashboard
The trader dashboard at PipFarm is simple, but it contains all of the information the trader needs to know such as evaluation progress, payouts, and trade history.
Trading Platform
PipFarm traders have only one trading platform to choose, and it’s cTrader, which is one of the best trading platforms available.
Experience Program
PipFarm traders earn experience points (XP) to increase their rank and unlock ‘power-ups’ and rewards. XP is earned by starting challenges, passing ID verification, passing a challenge, receiving a payout, and scaling the account up. There are also ‘quests’ which can be completed to earn more XP.
Conclusion
PipFarm is a relatively new prop firm, but they’ve already got a great reputation amongst traders.
Giving traders the option to choose from Classic, Endurance, and Consistency account types is great, as it allows the trader to think about and choose the account type that fits their trading style best.
The XP program is quite unique in that traders start out at PipFarm with a relatively low profit split and scaling increment when compared with other firms, but if a trader stays with PipFarm and earns XP to increase their rank they can eventually reach very favourable conditions.
If you’re looking for a new prop firm that you can grow with over the long term, and build XP to benefit from the power-ups that are available, then PipFarm might be perfect for you!
