PipFarm Broker Overview
As proprietary trading firms continue to reshape the financial landscape, they’re revolutionizing how traders engage with markets. Among these, PipFarm, a Singapore-based firm led by former cTrader executive James Glyde, has emerged as a notable contender since its inception in 2023. The firm is dedicated to revolutionizing the prop trading industry by emphasizing trader growth and assistance.
At PipFarm, traders can oversee various account sizes up to $300,000, with profit shares climbing to an outstanding 95%. The platform offers a broad selection of instruments, including forex pairs, commodities, indices, and cryptocurrencies, enabling a variety of trading approaches. With a scaling plan that could unlock up to $1.5 million in trading capital, PipFarm presents an enticing prospect for traders globally. Leverage reaches up to 1:50, and starting fees are set at $50, which is highly competitive.
However, PipFarm does come with certain limitations. The platform is restricted to cTrader, potentially narrowing choices for some users. Moreover, it is tailored more toward traders aiming to refine their skills rather than novices, which might pose challenges for those new to the field when navigating its offerings.
With an understanding of the firm’s offerings, let’s explore its operations in greater detail!
Although PipFarm is a relatively young firm building its reputation, we conducted thorough checks to confirm its legitimacy—a critical factor in the online trading realm where security cannot be overlooked. Our research reveals that PipFarm operates legally under the entity ECI Ventures Pte. Ltd., registered with the number UEN 202329954C.
While PipFarm lacks the regulatory oversight typical of traditional financial entities, it places significant emphasis on user safety and trust. The firm implements robust measures to prevent fraud and safeguard funds, such as processing the majority of trader payouts through traceable wallets and trusted payment providers like Riseworks Wallet, Skrill, and Binance. According to their site, PipFarm has distributed over $1,000,000 to traders.
Additionally, PipFarm boasts a 4.6-star rating on Trustpilot, derived from around 190 reviews, indicating a high level of satisfaction among its users. Based on these metrics and its compliance with industry standards, PipFarm has earned the confidence of traders and is recognized as a legitimate operation.
PipFarm features a clear and uncomplicated fee structure, simplifying transaction management for traders. Grasping this framework is vital for an optimal trading experience, so we’ve outlined the key costs to consider.
The main trading expenses at PipFarm are the challenge fees, which range from $50 for a $5,000 account to $1,050 for a $300,000 account. Once this initial payment is made, the firm does not impose additional account fees.
Regarding commissions, PipFarm waives fees for energy products, indices, and crypto CFDs. However, a $6 per lot round-turn commission applies to forex trades, which can decrease to $3 or be eliminated entirely through the XP progression system. There are no inactivity fees, though accounts are flagged as inactive after 14 days, extendable to 28 days upon earning 10 XP and reaching rank 1. Payout fees are absent, but a minimum 1% profit is required before the profit split applies. Overnight positions incur swap fees, clearly detailed on the website and cTrader platform. Spreads are variable, beginning at 0.1 pips.
Overall, PipFarm’s transparent fee model and competitive rates enhance its appeal to traders.
PipFarm offers a diverse array of payment options for both challenge fees and withdrawals, including Visa, MasterCard, Riseworks, PayPal, Skrill, Binance Pay, Coinbase, JCB, UnionPay, and various cryptocurrencies via ERC20, Polygon, and TRC20 networks.
The inclusion of cryptocurrency payment methods makes PipFarm especially attractive to crypto enthusiasts and international traders, overcoming common local trading obstacles. Withdrawal processing is typically swift, with most requests handled within 1-3 business days. After the initial on-demand payout, traders can benefit from bi-weekly payouts every 14 days.
PipFarm employs a three-tier leverage system tied to trade volume, adjusting available leverage as account and position sizes grow. This strategy helps manage risk and maintain account stability by limiting exposure to any single instrument.
Standard leverage at PipFarm typically ranges from 1:20 to 1:30 across various asset classes. For cryptocurrencies, which exhibit higher volatility, the standard leverage is set at 1:30. Traders who advance to level 3 in the XP loyalty program can access increased leverage, up to 1:50 on selected instruments, enabling them to adapt their strategies while controlling potential risks.
PipFarm does not develop its own trading platform but relies on cTrader, a highly regarded option known for its intuitive interface and advanced capabilities across mobile and desktop devices.
cTrader offers extensive customization, allowing traders to adjust workspaces, layouts, colors, and chart settings to their preferences. The platform supports both manual and automated trading via cBots, creating a versatile environment for executing diverse strategies. It also provides over 70 technical indicators for in-depth market analysis.
While cTrader is accessible on multiple devices, some traders have noted minor issues with the mobile app during chart trading. Nevertheless, these do not detract from the platform’s overall reliability and effectiveness, making it a strong selection.
PipFarm provides various account types tailored to different experience levels and risk tolerances. Each account type includes distinct features and requirements, enabling traders to select the option best suited to their objectives. PipFarm also offers flexible evaluation methods, including one-stage and two-stage formats. Let’s examine each in detail:
One-Stage Evaluation
|
Account Size |
Maximum Daily Drawdown |
Maximum Static Drawdown |
Profit Target |
Leverage |
Minimum Challenge Fee |
Minimum Trading Days |
|---|---|---|---|---|---|---|
|
$5k |
3% | 6% | 12% |
1:30 max |
$50 |
2 days |
|
$10k |
3% | 6% | 12% |
1:30 max |
$100 |
2 days |
|
$20k |
3% | 6% | 12% |
1:30 max |
$150 |
2 days |
|
$50k |
3% | 6% | 12% |
1:30 max |
$300 |
3 days |
|
$100k |
3% | 6% | 12% |
1:30 max |
$550 |
3 days |
|
$200k |
3% | 6% | 12% |
1:30 max |
$1,050 |
4 days |
|
$300k |
3% | 6% | 12% |
1:30 max |
$1,550 |
5 days |
Two-Stage Evaluation
|
Account Size |
Maximum Daily Drawdown |
Maximum Static Drawdown |
Profit Target |
Leverage |
Minimum Challenge Fee |
Minimum Trading Days |
|---|---|---|---|---|---|---|
|
$5k |
3% | 9% | 6% |
1:30 max |
$50 |
2 days |
|
$10k |
3% | 9% | 6% |
1:30 max |
$100 |
2 days |
|
$20k |
3% | 9% | 6% |
1:30 max |
$150 |
2 days |
|
$50k |
3% | 9% | 6% |
1:30 max |
$300 |
3 days |
|
$100k |
3% | 9% | 6% |
1:30 max |
$550 |
3 days |
|
$200k |
3% | 9% | 6% |
1:30 max |
$1,050 |
4 days |
|
$300k |
3% | 9% | 6% |
1:30 max |
$1,550 |
5 days |
Getting started with PipFarm is a quick process that can be completed in less than ten minutes. Follow this step-by-step guide to register and verify your account:
-
Go to the PipFarm website and select the “Join Now” button.
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Pick your evaluation plan and click “Buy Now.”
-
Click on “Register.”
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Provide your email address and set a password.
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Complete the checkout form with your personal information.
-
Select your preferred payment method.
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Finalize the purchase process and complete the challenge.
Afterward, you’ll need to verify your account, which is a simple procedure. Simply upload the necessary KYC documents, including a clear photo or scan of a government-issued ID and proof of address, such as a utility bill or bank statement. Once your documents are approved, you can begin trading with your funded account.
PipFarm, though a recent entrant in the prop trading arena, is gaining significant traction due to its user-friendly approach, making it a compelling choice for traders aiming to expand their assets effortlessly. The firm’s transparent and competitive fee structure further boosts its attractiveness, drawing in more participants.
While the dependence on the cTrader platform might give some pause, the platform’s robust features often outweigh this concern. Overall, PipFarm provides a promising setting for traders eager to elevate their trading careers.
