PipFarm Review

The allure of prop firm funding is undeniable. Accessing significant capital, keeping a hefty chunk of your profits, and achieving exponential growth – it sounds like a trader’s dream. But navigating the world of prop firms can be tricky. Are the rules too restrictive? Is the platform clunky?  Do they even pay out?

This comprehensive PipFarm review will answer all your burning questions and more. We’ll dissect their funding program, trading environment, unique features, and the all-important payout structure. Is PipFarm the prop firm you’ve been waiting for?  We’ll break down everything you need to know to make an informed decision.

About PipFarm

PipFarm is a Singapore-based prop firm offering funded trading accounts. This means aspiring traders can potentially trade with PipFarm’s capital and share the profits generated. PipFarm goes beyond just funding, emphasizing a supportive environment that encourages skill development and responsible risk management. They’ve built their own dashboard specifically designed for their program, which includes a unique feature: an experience-based system that rewards active users with benefits.

About the CEO

PipFarm is led by James Glyde, a seasoned professional with over a decade of experience in online trading. Before taking the helm at PipFarm, James honed his skills at respected brokers and prop firms like TopFX and Scandinavian Markets. His expertise spans various areas: crafting new trading tools, ensuring the platform runs smoothly, and keeping a watchful eye on risk management. This well-rounded background allows James to guide PipFarm towards efficient operations and a leading position within the prop firm industry.

For insightful data on the prop firm landscape and his perspectives on the industry, consider following James Glyde on X.

Funding Program Options

PipFarm cuts through the complexity often found in prop firm challenges with a single-stage program. This streamlined approach eliminates the need to navigate multiple stages with varying rules, allowing you to focus on what matters most – demonstrating your trading skills and reaching funded status faster.

They offer a range of account sizes, from $5,000 to $200,000. Here’s a quick overview:

• Profit Target: 12% – Achieve this target to graduate to a funded account.
• Drawdown Flexibility: Choose static (6%) or trailing drawdown (12%) to suit your risk management style.
• Manageable Daily Loss: The daily loss limit is set at 3% of your previous day’s closing balance.
• Ample Leverage: Leverage up to 1:30 to magnify your potential returns (leverage may vary by asset class).
• Scalable Growth: Successfully scaling your account unlocks 50% increments in capital.
• Scaling Bonus: Earn an additional 1% bonus on top of your initial scaling amount.
• Lucrative Profit Share: PipFarm boasts a tiered profit share system, rewarding you with up to 90% of your profits generated from the funded account.

We’ll delve deeper into the specifics of each aspect of the challenge in later sections. This overview provides a foundational understanding of PipFarm’s funding program structure and its emphasis on efficiency.

Fees

PipFarm’s fees are structured around a one-time challenge fee that varies based on your chosen account size. Here’s a breakdown:

• $5,000 Account: $60
• $10,000 Account: $110
• $20,000 Account: $210
• $50,000 Account: $350
• $100,000 Account: $550
• $200,000 Account: $1100

Important Points to Consider:

• Non-Refundable Fee: The challenge fee is non-refundable, regardless of whether you pass or fail. It covers the evaluation process and is not a deposit returned with profits.
• Multiple Challenges: You can participate in multiple challenges concurrently, but with a maximum combined capital allocation of $300,000. Any challenges exceeding this limit will be rejected and refunded.
• Scaling Bonus: A 1% bonus incentivizes scaling your funded account. For instance, scaling a $100,000 account unlocks a $1,000 cash bonus.
• Funded Account Fees: Funded accounts incur a $6 per lot commission with raw spreads, similar to leading cTrader brokers.

Profit Sharing and Rule Violations:

• Profit Share: PipFarm offers a tiered profit share system, with successful traders keeping up to 90% of the profits generated from their funded accounts.
• Rule Violations and Profit Sharing: Even if you break a rule on your funded account, you may still be eligible for a share of the profits under certain circumstances. PipFarm appears to have some flexibility in this regard, but it’s always best to adhere to the rules for optimal performance.

Tradable Assets

PipFarm offers a varied selection of tradable assets, including:

• Forex
• Metals
• Energy
• Indices
• Cryptocurrencies

For a complete list with detailed specifications, visit PipFarm’s instruments page. This will show you the cTrader symbol, description, contract size, pip value, maximum leverage, swap charges, and trading hours.

Leverage Options for Different Asset Classes

The default leverage offered on most products is 1:30, providing ample room to maneuver. However, PipFarm recognizes that some assets require a more cautious approach. This is reflected in the adjusted leverage settings for highly volatile assets like indices (1:20) and cryptocurrencies (1:5). You can access all contract specifications within the cTrader platform for a clear picture.

Unlocking Even Higher Leverage with Power-Ups

For experienced traders seeking to magnify their potential returns, PipFarm offers a unique “Power-Ups” program. This program allows you to progressively unlock higher leverage as you demonstrate your skills. 

Introducing Dynamic Leverage: A Risk-Conscious Approach

PipFarm goes beyond simply providing leverage options. Their innovative dynamic leverage system ensures responsible trading by managing concentration risk and optimizing collateral usage with brokers. This system automatically adapts your leverage based on your net exposure to each asset.

Benefits of Dynamic Leverage:

• Reduced Concentration Risk: PipFarm helps mitigate the dangers of overexposure to a single asset by dynamically adjusting leverage based on position size.
• Efficient Margin Usage: This system liberates margin from positions requiring less leverage, allowing you to capitalize on more trading opportunities.
• Transparency and Convenience: cTrader seamlessly calculates and displays dynamic leverage, streamlining your trading experience.

Dynamic Leverage vs Standard Leverage: A Clear Advantage

PipFarm compares its system to a competitor offering a flat 1:9 leverage on precious metals. Here’s why PipFarm comes out on top:

• Increased Exposure: With PipFarm, you can have a 27% larger gold position compared to the competitor.
• Reduced Margin: PipFarm requires 55% less margin for the same gold position size.

Understanding Dynamic Leverage in Depth

We recommend thoroughly reviewing PipFarm’s guide on dynamic leverage to fully grasp its benefits and how to manage your margin effectively.

Trading Platform and Broker

PipFarm takes pride in empowering you with industry-leading tools. This section dives into the platform’s features and PipFarm’s chosen liquidity provider.

cTrader Platform:

• Customization: cTrader offers a customizable workspace, allowing traders to personalize layouts, color schemes, and chart configurations. Detaching charts for multi-monitor setups is also supported.
• Visual Trade Management: Orders and positions can be managed directly on the charts through drag-and-drop functionality. This visual approach aids in informed decision-making based on real-time price action.
• Technical Analysis Suite: Over 70 technical indicators and a wide range of chart types and timeframes equip traders with tools to analyze market trends, identify opportunities, and develop trading strategies.
• Risk Management Tools: cTrader prioritizes risk control. Built-in features like the risk calculator help determine position sizes and assess trade viability. Informative order windows ensure a clear understanding of margin requirements before execution.
• Automated Trading Capabilities: Algorithmic traders can leverage cTrader’s environment for developing, testing, optimizing, and deploying automated trading strategies (bots).
• Performance Analysis: cTrader’s comprehensive analytics suite provides valuable insights into your trading activity. Detailed statistics and visual charts help identify strengths, weaknesses, and areas for improvement.
• Diverse Order Types: cTrader offers a variety of order types, catering to different trading styles and market scenarios and ensuring precise entry and exit points.

cTrader and Compatibility with Other Platforms:

While cTrader offers a robust feature set, it’s important to note that it’s not directly compatible with MT4 or MT5 trading platforms. However, for those accustomed to these platforms, there are options:

• Trade Copying Systems: Several third-party trade copier systems can bridge the gap, allowing you to copy trades from MT4 or MT5 accounts to your cTrader account. PipFarm recommends the Heron Copier for MT5 to cTrader copying.
• EA Conversion Tools: Free online tools like mt4converter.com can convert relatively simple MT4/MT5 Expert Advisors (EAs) for use on cTrader.
• Advanced Algorithmic Development: For complex EAs, consider ClickAlgo.com, a development company specializing in cTrader tools and automated trading systems.

TopFX Brokerage:

PipFarm partners with TopFX, a well-established institutional prime broker, for market data and execution services. TopFX’s integration with cTrader since 2012 ensures a stable trading environment. Their commitment to excellence is reflected in numerous industry awards, including:

• Top Trading Conditions 2023
• Best Retail Forex Broker 2023
• Best Copy Trading Platform

By combining cTrader’s functionalities with TopFX’s reliability, PipFarm provides a well-equipped trading environment designed to support your trading endeavors.

Challenge

PipFarm’s 1-Stage Challenge offers an opportunity to secure funded trading accounts with a straightforward set of rules, allowing you to focus on your trading strategy. 

Here’s a breakdown of the key points:

Performance Objectives:

• Clear Target: Achieve a 12% profit on your starting balance to graduate from the challenge and qualify for a funded account. This same 12% target applies again if you wish to scale up your funded account to a larger size.
• Time Limit: You have 365 days to reach the 12% profit target. Once you have a funded account, you’ll need to generate at least 12% profit every 365 days to maintain access to profit-sharing withdrawals. This ensures continued activity from funded traders.

Managing Risk:

• Daily Drawdown: Your account equity (total value) cannot fall below 3% of the previous day’s closing balance. This helps you manage risk responsibly and protects PipFarm’s capital.
• Maximum Drawdown: There are two limits to prevent excessive losses:
  • Static Drawdown: This is a fixed limit set at 6% of your starting account balance, regardless of your trading activity.
  • Trailing Drawdown: This limit is capped at 12% from your account’s “high watermark.” The high watermark simply refers to the highest balance your account has ever reached. So, the better you perform, the more your available trading capital increases. Funded account trailing drawdown resets with each profit share withdrawal to avoid penalizing you for taking profits.

Trading Activity:

• Inactivity: Both the challenge and funded account phases require at least one trade every 14 days to avoid disqualification. This ensures active participation from aspiring funded traders.
• News Trading: You can trade during news events and leverage them to your advantage.
• Weekend Trading: Holding positions over weekends and trading cryptocurrencies on Saturdays and Sundays is allowed.
• Stop Loss Requirement: There is no mandatory requirement to use stop-loss orders. You have the flexibility to choose whether to incorporate them into your strategy.
• Algorithmic Trading:
  • Custom cTrader Bots: You can use your own custom cTrader bot, provided it was the same bot used to pass the challenge. This ensures your bot’s performance translates effectively to the funded account.
  • High-Frequency Trading (HFT) and Copy Trading: Engaging in high-frequency trading or copying other traders is prohibited. PipFarm prioritizes fair market conditions and discourages these activities.

Additional Considerations:

• Kill Switch: This automated feature helps manage risk by closing all your positions when your equity reaches a pre-defined level. It includes a stop-loss to prevent exceeding the daily drawdown limit and a take-profit to secure profits when the target is met. While highly accurate, consider incorporating a small buffer (a few basis points) to account for potential slippage or latency (delays in order execution).
• API Trading: FIX API and cTrader OpenAPI are supported for trade execution. Remember, deceptive practices like prop account hedging, passing services, and HFT bots are strictly forbidden.

PipFarm’s 1-Stage Challenge prioritizes transparent rules and flexibility, empowering you to showcase your trading skills. By understanding these guidelines and employing sound risk management practices, you can unlock the potential of a funded trading account.

Features

PipFarm’s Unique Power-Up XP System

PipFarm takes a novel approach to trader development with its “Power-Ups” program. Instead of a traditional purchase system, PipFarm rewards you with Experience Pips (XP) for your trading activity, allowing you to unlock valuable features and benefits as you climb the ranks. Here’s how it works:

Earning XP:

• Trade and Level Up: Earn XP through your everyday trading activity. The more you trade, the more XP you accumulate, propelling you towards higher ranks.
• Challenge Yourself: Earn XP by participating in PipFarm’s funded trader program. Points are awarded for starting, passing, and scaling your funded accounts.
• Complete Quests: New trading quests are introduced regularly, offering XP rewards for achieving specific trading milestones. These quests can incentivize specific behaviors like consistency or achieving profit targets.

Ranks and Power-Ups:

As you accumulate XP, you’ll progress through various ranks, each unlocking exciting new power-ups:

• Extended Inactivity Period: Enjoy greater flexibility with an additional 14 days of inactivity allowance before your account is disqualified. Take your time to analyze markets and identify high-potential setups without the pressure of forced trading.
• Reduced Commissions: Slash your trading costs by 50%, bringing your commissions down to a mere $3 per lot for FX and metals. Maximize your profits while PipFarm helps cover the expenses.
• Faster Payouts: Get rewarded for your performance with faster payouts. After your initial payout, subsequent payouts are processed every 7 trading days instead of the standard 14.

Important Notes:

• XP Never Expires: Your hard-earned XP is safe. You cannot lose, forfeit, spend, or transfer XP. The only exception might be a correction for a technical error.
• Quests Can Only Be Completed Once: Each quest offers a one-time XP reward. Don’t try to game the system by repeatedly completing the same quest.
• Automatic Quest Tracking: No need to manually activate quests; PipFarm’s system automatically monitors your trading activity. When you complete a quest, you’ll be notified, and XP will be credited to your account.
• Power-Up Management: Power-ups typically provide benefits, so they are automatically applied. However, if you have a specific reason not to use a power-up, contact PipFarm to discuss alternative options.
• Power-Up Availability: New power-ups become available when you reach a new rank or scale to a higher funding level in your funded account.

By actively trading, participating in challenges, and completing quests, you can leverage PipFarm’s XP system to unlock valuable power-ups, enhance your trading experience, and potentially reach the coveted “God Mode” with its ultimate set of benefits.

PipFarm’s Transparent Scaling Program

PipFarm empowers you to accelerate your trading journey with their straightforward scaling program. This program allows you to increase your trading capital without risking your profits or incurring additional screening test costs. Here’s a breakdown of the key points:

Simple and Continuous:

• Transparent Process: PipFarm’s scaling program is designed with clarity. There are no hidden fees or complex conditions to meet.
• Ongoing Opportunities: You can qualify for additional funding every 30 days, allowing you to consistently grow your trading capital.

Qualifying for Scaling:

• Account Maturity: Your funded account must be at least 30 days old to be eligible for scaling.
• Profit Target: Achieve a 12% profit on your current funded account balance.
• Profit Protection: Profits are distributed to you before each new funding round, ensuring you don’t risk your hard-earned gains.
• Seamless Transition: There’s no need to take additional tests to qualify for more funding. Simply meet the 12% profit target within 30 days.

Scaling Levels and Potential:

• Incremental Growth: Each successful scaling round increases your funding by 50% of your initial seed capital.
• Multiple Levels: The program offers up to four scaling levels, allowing you to potentially grow your trading capital by up to 300% of your initial investment.
• Funding Caps: The maximum funding amount offered is $300,000.

Control and Flexibility:

• No Obligation: Scaling is entirely voluntary. You can choose to maintain your current funding level if that suits your trading style or risk tolerance.
• Clear Communication: When you meet the scaling criteria, PipFarm will present the option to scale, allowing you to decide if you wish to proceed.
• Account Management: Upon activating scaling, your existing account is closed, profits are distributed, and a new account is created with the increased funding.

Maximizing Your Potential:

PipFarm’s scaling program is designed to empower you to trade with larger capital as your skills and experience grow. By achieving consistent profitability, you can unlock the potential to significantly increase your trading opportunities and returns.

PipFarm’s Kill Switch Protects Your Profits

PipFarm prioritizes your success, and the Kill Switch is a powerful tool designed to do just that. Think of it as a safety net for your account equity.

How it Works:

The Kill Switch acts as a combination stop-loss and take-profit order, set directly within your PipFarm dashboard.

• Stop-Loss Protection: Set a limit to prevent your equity from falling below a certain level, helping you adhere to PipFarm’s daily loss rules and avoid exceeding your risk tolerance.
• Take-Profit Automation: Define your profit target, and the Kill Switch will automatically close your positions when that level is reached, ensuring you secure your gains.

Why it Matters:

PipFarm’s data reveals that 95% of failed challenge attempts resulted from exceeding the daily loss limit. The Kill Switch directly addresses this issue by keeping your trading activity within responsible parameters.

The Benefits:

• Reduced Risk: Safeguard your account from excessive losses by automatically exiting positions when they reach your predefined stop-loss level.
• Discipline and Emotion Control: The Kill Switch removes the temptation to hold onto losing trades or miss out on taking profits due to emotional influences.
• Peace of Mind: Trade with confidence, knowing the Kill Switch is there to protect your account and enforce your trading plan.

The Kill Switch empowers you to trade strategically and avoid costly mistakes, ultimately promoting a more disciplined and controlled trading approach.

Payout

PipFarm’s payout system is designed to reward your performance and keep you focused on trading. 

Here’s a breakdown of the key features:

Tiered Profit Sharing:

• Up to 90% is Yours: The more profit you generate, the greater your share becomes. You can keep up to 90% of your profits as you achieve higher withdrawal milestones.
• Transparent Structure: A clear-tiered system is in place. The first 3% profit withdrawal is shared 70/30 in your favor, gradually increasing in your favor as you withdraw more.
• Scaling Bonus: Receive an additional 1% bonus when you scale your account for the first time.

Hassle-Free Withdrawals:

• Simple Process: The PipFarm dashboard simplifies requesting profit share withdrawals.
• Fast Processing: Once you initiate a withdrawal, the app generates an invoice and sends funds within 48 hours.
• Focus on Trading: PipFarm handles all fees and taxes associated with your payout, allowing you to concentrate on your trading activity.

Flexibility and Convenience:

• Minimum Threshold: The minimum withdrawal amount is 3% of your starting account balance.
• Frequent Withdrawals: After your initial withdrawal, you can request profit share payouts every 14 days.
• Power-Up Potential: Upgrade to higher ranks through the Power-Up program to unlock unlimited and unrestricted profit share withdrawals.
• Multiple Payment Options: PipFarm offers various payout methods, including Riseworks, cryptocurrency, bank transfer, and e-wallets, catering to your preferences.

Profit-Friendly Withdrawals:

• No Penalty for Success: Profit share withdrawals are not considered losses and do not impact your drawdown limits.
• Automatic Adjustments: When you withdraw profits, PipFarm automatically adjusts your trailing drawdown and daily loss limits to reflect your updated account balance, ensuring a fair trading environment.

Seamless International Payouts with Riseworks

For international traders, PipFarm leverages Riseworks, a secure crypto-native payroll and compliance solution, to streamline the payout process. Here’s a simplified overview:

• Effortless Invoice Creation: Submit invoices directly through the PipFarm dashboard for your performance fees. These invoices are settled in your Riseworks account.
• Flexible Withdrawals: Withdraw your earnings in your local currency or supported cryptocurrencies from your Riseworks account.
• Onboarding with Riseworks: A straightforward process is in place to register with Riseworks. You’ll receive an email with clear instructions, and the platform guides you through creating an account, verifying your identity, and connecting withdrawal methods.

For a step-by-step breakdown of the onboarding process and available withdrawal options, please refer to PipFarm’s comprehensive guide on using Riseworks.

How To Join PipFarm?

Ready to trade with more capital? PipFarm makes it simple.

1. Choose Your Challenge: Select your starting account size and preferred drawdown style (static or trailing) to best suit your risk tolerance.
2. Easy Checkout: Utilize PipFarm’s secure payment portal to complete your registration fee using your preferred method (PayPal, Stripe, or cryptocurrency).
3. Trade & Profit: Once approved, you’ll receive your funded account credentials and gain access to the platform’s tools to begin your trading journey.

PipFarm – Is it the Right Funding Program for You?

PipFarm offers a unique set of features for aspiring funded traders. Here’s a balanced overview to help you decide if it’s a good fit:

Strengths:

• Grow Your Capital: Scale your account up to 4x with performance-based bonuses.
• Keep More Profits: Tiered payouts let you retain up to 90% of your earnings.
• Manage Risk Effectively: Choose static or trailing drawdown, and utilize the Kill Switch for automated risk control.
• Trade with Confidence: Leverage a stable trading environment with TopFX liquidity and minimal trading restrictions.
• Retained Gains: Even if disqualified, you keep your earned profits.

Considerations:

• Evaluation Process: Understand the requirements and rules of the evaluation process before applying, including profit targets, maximum loss limits, and daily drawdown rules.

The Bottom Line:

PipFarm is ideal for growth-oriented traders comfortable with a challenging evaluation process. The focus on performance rewards and risk management tools can empower your trading journey. However, carefully assess your goals and risk tolerance to ensure PipFarm aligns with your needs.

Interested in exploring further? PipFarm’s website offers a wealth of information about their program details, funding tiers, and FAQs. You can visit their site to see if it’s a good fit for you.