Pros & cons of PipFarm Prop Firm

PipFarm Fact sheet

Before we can continue to other sections, we have to answer one simple question: is PipFarm legit? Choosing a safe and reliable prop firm is the first step for successful prop trading. There are various factors to consider when making a decision, but the safest prop firms are ones with extensive track records and regulated partner brokers. Since PipFarm is a young prop firm, it does not have extensive experience, but pipfarm.com reviews on Trustpilot are super positive.

The lack of PipFarm reviews on the FPA platform (ForexPeaceArmy) is also understandable as the firm was recently established, but Trustpilot feedback from traders indicates that PipFarm should be a legitimate company. Overall, PipFarm prop trading safety seems reliable as the firm offers very few rules which is always a good sign. 

The PipFarm funded program has only one evaluation phase, allowing traders to quickly access real trading accounts. There is a screening test and funding phase, allowing traders to quickly get an evaluation and start trading for profits. The funding options range from 10,000 to 200,000 USD with a scaling plan offering traders the opportunity to scale up their trading account up to 500,000 USD. The firm has very few requirements and traders can open a demo account before they go for the real challenge. The skating plan maximum ceiling is different depending on the funding amount, for 10k accounts maximum scaling is 200k, while 25k accounts can be scaled up to 500k USD. This scaling plan is activated every 30 days. 

The firm has no hidden rules and offers a very simplistic approach, allowing prop traders greater flexibility. The only two strategies forbidden are copy trading using trade copiers and HFT (high-frequency trading) as these strategies are difficult to replicate. Trading robots, news trading, overnight positions, and positions over the weekends are all allowed. PipFarm allows traders to access and trade crypto markets 24/7 which is very rare in prop firm space. PipFarm is very transparent with rules, and it clearly shows on their website. The profit target for both the screening and funding phases is set at 12%. The daily drawdown limit is 4% and the maximum drawdown limit is set at 8%. PipFarm reviews on Trustpilot mention very easy-to-follow rules from the firm, which is always a good sign. 

There is an inactivity rule and traders can get disqualified if they do not hit the profit target within 365 days or are not trading for 14 days straight. 

*CFD stands for Contract for Difference, and such instruments enable traders to speculate on underlying asset prices without owning them. 

PipFarm prop firm offers a wide range of tradable instruments, including CFDs on energies, cryptocurrencies, Forex, indices, and metals. Traders can speculate on these instruments using an advanced trading platform, cTrader. 

Forex trading on PipFarm

The firm offers a multitude of Forex pairs, including majors and minors. The trading conditions are attractive, with EURUSD having low spreads between 0.1 and 0.2 pips. These low spreads require a commission of 6 USD per lot round turn, enabling traders to deploy various scalping strategies. Since the firm has got 4% daily drawdown limit, low spreads should enable traders to implement strategies with higher win rates. With the leverage of 1:30, low spreads, and diverse funding options, Forex trading on PipFarm cTrader seems a great deal for prop traders. 

Stock CFD trading on PipFarm

PipFarm is not offering stocks at this point, but since the firm is relatively young, they should add popular stocks soon. 

Cryptocurrency trading on PipFarm 

The firm provides 6 of the most popular cryptos for trading, including BTC and ETH. The maximum leverage is up to 1:10 for cryptos, which is a very attractive condition, as most prop firms only allow leverage of 1:5 for digital currencies due to their volatility. 

Commodities, indices, and futures trading on PipFarm 

PipFarm provides access to 14 indices, 6 metals, and 3 energies for trading with 1:20 leverage. There are no futures offered at this point. The spreads are competitive as PipFarm has several regulated liquidity provider brokers. 

There is one funding challenge called the screening test, where traders select their seed funding and start on an evaluation account. After hitting the 12% profit target without breaking any rules, they can start trading on a virtual account and withdraw profits. Here is the list of fees for each of the seed funding selected:

• $10,000 — $125
• $20,000 — $225
• $50,000 — $475
• $100,000 — $875
• $200,000 — $1,675

The fees are one-time and allow traders to start low and scale up slowly according to their risk appetite. 

Pros & cons of PipFarm account types

Getting started on PipFarm – Main steps

In this section, we’ll show you how to open a live trading account with PipFarm. The registration process and account activation are digital, and the prop firm’s web page is intuitive and user-friendly. In addition, customer support agents are available 24/7 if you have any questions. 

Step 1: Open an account

Traders first have to select their funding amount called the ‘seed funding’ and then they can sign up for an account. 

Step 2: Time to verify your account

Traders need only to pay the fee for trading account amount and are not required to go through the verification process right away. Instead, they can pay the fee for funding while signing up. 

Step 3: Make your deposit and start trading

After they have registered and paid the fee, traders have to pass a challenge. After passing the evaluation phase, traders can start trading on funded accounts and withdraw profits. 

Comparing PipFarm fees with popular brokers

PipFarm fees compared to Interactive Brokers fees

*Inactivity fee was eliminated by IB in 2021, it used to be $20/m

PipFarm fees compared to CM Trading fees

PipFarm fees compared to plus500 fees

PipFarm fees compared to XM fees

PipFarm fees compared to AvaTrade fees

PipFarm fees compared to Capital.com fees

PipFarm cTrader offers advanced functionality similar to popular platforms MT4 and MT5. cTrader is a great platform widely used for CFD trading, and it also comes with automated trading capabilities. PipFarm allows traders to access and use all the features of cTrader. 

PipFarm offers little to no educational resources as the firm focuses more on seasoned traders with its one-stage evaluation program. There is a blog, but it's mostly about the firm’s services and products, which is not a replacement for trading education. There is a trader’s dashboard offering performance and other trading stats for traders and the website is mobile-friendly. 

Customer support is available 24/7 and there are several options to contact the firm’s representatives directly. Live chat is the most convenient way to resolve any issues or get answers to any questions that may arise during the trading process. There is also an email support. Both the website and the support are only given in the English language. 

Overall, PipFarm presents appealing conditions for traders who want to pay a small audition fee and start trading on a funded account. There is only one evaluation phase, after which profit withdrawals are possible. With its high profit share of 90% and flexible trading rules, PipFarm offers a high-quality prop trading experience. The firm offers cTrader advanced platform and access to diverse trading assets including Forex, cryptos, indices, and commodities. Overall, PipFarm seems a very attractive firm for traders who want to quickly transition from evaluation to funded trading.