PIP Traders Funding Review – Trusted Prop Firm or Not?

With two legal entities mentioned by the company, it’s unclear who runs this prop firm. One of them is PIP Traders Funding LLC which should be registered in Puerto Rico. Thus, registration details are not mentioned.

However, the company’s T&Cs reveal the other entity Prop Trade Tech LLC, registered in Saint Vincent and Grenadines. The problem with it is that this might lead you to an Australian-based and registered firm. But that’s not the same company. To avoid similar mistakes, read this PIP Traders Funding review carefully.

Legal Information and Regulation

Since the company doesn’t present us with any registration details for the Puerto Rican company, it’s hard to believe they are registered there at all. That’s already a sign to stay away from it. Nevertheless, prop trading firms usually reveal what brokers and platforms they use. In this case, it’s a very well-known Eightcap trading firm. Even though they are licensed, that shouldn’t confuse traders.

In any case, traders should know that prop firms don’t need regulation. After all, simulated trading doesn’t involve any deposits. However, this firm like many other offshore prop firms proves that even simulated trading can be dangerous.                  

What Are Traders Saying?

If you try looking for PIP Traders Funding reviews you will find very few of those. Currently, on Trustpilot, there are only 14 comments, and already almost 10% are negative ones. If you compare it with top-tier prop firms like Funded Trading Plus which has more than 2000 reviews, you will realize how big of a difference that is. That’s why it’s important to do your research properly before signing up.

In any case, it seems like traders who passed the evaluation phases didn’t get what was promised. So, be careful. For more trading clarity, we recommend you also read our DWS Invest and Leadtradesfx reviews.

What Platform Can You Use?

All trading services require a trusted trading platform. But also the one with advanced tools that can help you maximize your results. Sadly, many prop firms limit the usage of AIs, EAs, etc. Luckily, with PIP Traders Funding prop firm many of those are allowed. Unfortunately, they don’t reveal what trading software is offered.

Some of the most popular among traders are cTrader and MetaTrader. However, just recently MT4/MT5 platforms got banned in the US for unregulated brokerages and prop firms. So, watch out for what the company offers.

What Trading Conditions Can You Expect? 

As can be seen, PIP Traders Funding evaluation programs offer fixed trading conditions for all. The leverage provided for assets can go up to 1:100. Unfortunately, spreads and other fees are not disclosed but on the positive side, commissions are. These start at $7 for round turn and only for Forex pairs. All other asset classes don’t include any commissions.

Tradeable Instruments

Quite surprisingly, the PIP Traders Funding trading firm has some weird limitations. Even though you are able to trade all assets on the platform, you are allowed to trade assets with certain indications. For instance:

• Forex pairs that end with “I” – EURUSD.i, GBPJPY.i, etc 
• Cryptos that end with “b” – BTCUSD.b, ETHUSD.b, etc.
• For commodities and indices, there are no suffixes.

Why is this happening, remains a mystery.

PIP Traders Funding Account Options

Same as with many other prop firms, traders can choose between one-step and two-step evaluations. Of course, a two-step challenge gives you a bit more space to breathe with conditions. In any case, both options give you access to four trading balance options: 

• $10K
• $25K
• $100K
• $200K

Also, the company advertises funding up to $600K, but detailed requirements are not specified. All in all, for the one-step phase the conditions are the same for all account fundings:

• Unlimited days
• 8% profit target
• 5%daily/8% overall drawdown
• 5 minimum trading days
• Profit share up to 90%

The only difference in the two-staged evaluation is that profit targets are 10% and 5%, while drawdowns are 5% daily and 10% overall.

Costs And Other Conditions

Compared to some other prop firms, PIP Traders Funding cost is quite high. Starting with $125 for the two-phased program with $10K available. The maximum required is $1.997 for a one-phased option with $200K available.

Regardless, there’s a specific condition after finishing the challenge that might keep you away from this company. The company doesn’t allow holding and trading during weekends. That’s a big disadvantage for traders and that’s why you should pick other firms.

Summary: Is It Worth It?

Getting up top 90% profit split without the risk involved is everyone’s dream. That’s why you have more and more prop firms that have calculated everything for themselves. Thus, some firms will be looking for ways to break your streak and get you back to the beginning. Such as this one.

On the other hand, if you check what traders say about Funded Trading Plus, you will realize what’s the difference. All in all, choosing the right prop-trading firm can make a big difference. Even though it’s worth exploring all options, opting for the right company from the beginning is a game-changer.

Especially since Funded Trading Plus has much better credibility and reputation. Not to mention their programs cost less and offer even more than this one. That’s why we suggest you explore all the options offered by Funded Trading Plus and then decide.

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