Frequently asked questions
Trading challenges
Trading rules
Funded accounts
Trading conditions
General
Experience Pips
How many steps are required to pass the screening process?
PipFarm requires you to pass a one-stage practical test to receive funding for your trading strategy. However, each time you break a risk management rule, you’ll be disqualified from the program and required to retake the assessment.
How much does the screening test cost?
We charge approximately 1% of the seed capital you will be allocated upon passing the test. For example, we charge $125 to take a $10,000 screening test.
How do I pass the challenge?
To pass the challenge, you must generate either 12% profit in the one-stage challenge or 9% in Stage 1 & 6% in Stage 2 in the two-stage challenge without breaking any rules and meet the minimum profitable trading days requirement.
Am I guaranteed funding after passing the test?
We fund over 99% of traders who pass the screening test. However, we cannot guarantee funding. After passing the assessment, we evaluate your trading against statistical models to determine the suitability of your strategy in our portfolio. If we do not accept the results of your test, we may ask you to retake the test, or we’ll issue a full refund.
Why might you reject test results?
We may reject your screening test if the results are inconclusive or signal abusive or undesirable trading strategies. Inconclusive results usually arise when a single position generates all the profit.
Can I keep any profit from the screening test?
No. The screening test is performed in a simulated environment, and the transactions are not used in our proprietary trading strategy. However, traders participating in the screening test also participate in the weekly trading competition and may win a cash prize.
Is the screening test fee refundable?
We do not refund the assessment upon successfully passing the screening test. We know many prop firms offer refundable fees, but we don’t think it’s appropriate. The screening fee is for a service provided regardless of whether you fail or pass. The screening fee is not a deposit that can be returned with profits made in a trading account; that’s how brokers work, and we are not a broker.
Can I use a different strategy once I receive funding?
No. Many traders think the screening test is a waste of their precious time. However, we rely on screening to evaluate your trading before allocating and risking funds. Using an automated strategy to pass and trade manually in a completely different manner is a huge violation of trust and will result in disqualification and termination.
What is the profit target?
To pass the challenge, you must hit the profit target. The profit target for passing the one-stage challenge is 12%, and for passing the two-stage challenge, it is 9% in Stage 1 and 6% in Stage 2.
How is the daily drawdown calculated?
The daily loss metric is calculated as 4% of your previous end-of-day balance. For example, if your balance at 21:00 UTC on Monday was 20,500, your equity cannot fall below 19,680; if your balance at 21:00 UTC on Tuesday was 20,800, your equity cannot fall below 19,968 on Wednesday.
How is the maximum trailing drawdown calculated?
The maximum trailing drawdown is calculated as 8% from your high watermark. Your high watermark is adjusted every time your balance increases to a new all-time high. For example, suppose you have a 20,000 account balance; your maximum drawdown limit is 18,400. If your balance increases to 21,000, your maximum drawdown limit increases to 19,320.
Are there any time limits?
If you do not trade in 14 consecutive calendar days, or if you do not reach the profit target in 360 days, you will be disqualified for inactivity. These rules exist to ensure our capital is allocated to active traders.
Can I trade during the news?
Yes. You can trade whenever the markets are open. It’s your decision when you trade.
Can I hold positions over the weekend?
Yes. You can hold your positions over the weekend and even trade cryptocurrencies at the weekend.
If I break a rule, can I keep the profit?
Yes. You do not forfeit your profit if you break a rule. You will be paid the profit according to the terms and conditions.
Do I have to trade with a stop loss?
Yes. You are required to use a stop loss when trading for PipFarm. cTrader will not allow you to place an order without a stop loss.
Can I trade with a cTrader Bot?
Yes. You can trade with your custom cTrader bot, providing the same bot was used to pass the screening test.
Can I trade using FIX API or cTrader OpenAPI?
Yes. However, remember that we do not allow high-frequency trading or copy trading.
Can I use a high-frequency trading bot?
No. Our objective is to cooperate with traders using strategies we can replicate. HFT strategies are hard to monetise and often result in diminished results for our proprietary trading due to slippage.
What is my profit share?
We pay funded traders up to 90% of the profit generated in their funded accounts. If a funded account has 0-3% profit, your share is 0%; if a funded account has 3-6% profit, your share is 25%; if a funded account has 6-9% profit, your share is 50%; if a funded account has 9-12% profit, your share is 75%; if a funded account has 12% profit, your share is 90%
When can I get my profit share reward?
We distribute profits every Friday via Rise Works. The cut-off time for requesting payouts is 00:00 UTC on Thursdays. The minimum you can withdraw is 3% of the starting balance. Please note that your funded account needs to be flat (no open positions) at the cut-off time for the payout to be processed. If positions are open, the request will be rejected.
How often can I get paid?
Every funded trader is entitled to one profit share distribution per week. Profits are distributed every Friday.
Why do I need to verify my identity?
We need to verify the identity of every contractor we onboard at PipFarm. After being approved for funding, you must electronically sign a contract and verify your identity and address. You’ll need your passport, driver’s license or national ID to verify your identity. To verify your address, you’ll need a bank statement, utility bill or letter from a government authority.
Can anyone work with PipFarm?
We cannot fund traders in several countries due to issues with executing profit share distributions.
Here is the current list of unsupported countries and regions: Afghanistan, Burundi, Central African Republic, Congo Republic, Cuba, Crimea, Democratic Republic of Congo, Eritrea, Guinea, Guinea-Bissau, Iran, Iraq, Liberia, Libya, Myanmar, North Korea, Papua New Guinea, Somalia, South Sudan, Sudan, Syria, Vanuatu, Venezuela, Yemen and Zimbabwe.
What is Riseworks?
Riseworks is a human resources management platform that lets PipFarm onboard contractors worldwide by performing background checks, managing contracts and processing payments to contractors.
How can I get paid?
We typically use Rise Works to pay contractors their performance fees. We may also use various payment systems, including local bank transfers, international transfers (SWIFT), PayPal, Payoneer, Revolut, Wise, Binance, and Coinbase.
Can I gain more funding?
Yes. PipFarm is a prop firm designed for career traders. Each time you reach the 12% profit target, you’ll receive another round of funding. Each funding round will be an increment of 50% of your seed funding. Your account can be scaled every 30 days.
What is the most funding I can receive?
The most funding we can allocate to a trader at any given time is $500,000.
Am I liable for any losses incurred in the funded account?
No. You are not liable for any losses. PipFarm will never ask you to replay any profit-share rewards already paid.
What platforms do you support?
PipFarm uses cTrader exclusively; our internal trading desk has used it for a decade. cTrader is an incredible trading platform that offers endless risk management technical analysis features and is incredibly reliable.
What trading instruments do you support?
Our prop trading division supports a wide range of trading instruments, allowing our funded traders to trade forex, precious metals, indices, cryptocurrencies and more.
How much leverage can I use in my funded account?
We offer our funded traders 1:30 leverage on most products, with a few exceptions on highly volatile products. For example, indices have 1:20 leverage and cryptocurrencies have 1:10 leverage. You can see all contact specifications in the cTrader platform.
Do you limit my exposure?
We do not limit exposure. However, we do reduce leverage on some products as exposure is increased.
Do you support swap-free accounts?
No. All of the brokers we trade with charge swaps. Therefore, to keep results consistent and fair, we do not offer synthetic swap-free accounts to funded traders.
Which broker do you use?
We use various brokers for our proprietary trading activities and occasionally change brokers to improve our execution quality or lower costs. The prices streamed into the cTrader platform are derived from various third-party sources.
What is PipFarm?
PipFarm is a funded trader firm that offers remote traders the opportunity to evaluate their abilities and earn rewards based on their performance, much like a prop trader. Traders who pass our pre-funding screening process are onboarded as external contractors and remunerated based on their performance and compliance with program rules.
What qualifications do I need to join PipFarm?
You don't need formal qualifications to join PipFarm. Trading isn't typically taught in conventional school or university settings. Instead, it is learned through experience, which forms the core ethos of our program. At PipFarm, we believe in giving traders hands-on practice with tangible stakes. While the risks are capped, they're real—if you fail, you stand to lose your enrollment. If you successfully navigate our screening process, you'll receive a funded trading account to trade with the company's capital.
Do you offer training and mentorship?
No. PipFarm is a funded trader firm. We use remote traders to crowdsource trading signals for our sentiment-driven algorithm. We will use our proprietary capital to trade financial markets with various brokers. Therefore, the company is not a financial institution or investment firm and does not provide investment services or accept customer deposits. The payments received from customers are enrollment fees, not deposits, which is why they are not refunded unless the customer is unhappy with their purchase. All capital used in the funded trader program belongs to PipFarm.
Is PipFarm licensed or authorised?
No. Proprietary trading is not regulated per the Singapore Securities and Futures Act 2001. While PipFarm is not authorised, the company still follows various regulations designed to protect consumers, such as the Singapore Consumer Protection (Fair Trading) Act 2003.
How does PipFarm make money?
PipFarm generates revenue from screening test fees and proprietary trading profits. Screening test fees provide a stable income for the company to operate the funded trader program, which requires personnel to support remote traders and software, such as cTrader and the dashboard. The majority of profit is generated from proprietary trading activities.
What is the Experience Pips Program?
The Experience Pips (XP) Program is designed to reward the PipFarm community with points for various achievements, such as participating in and passing screening tests, reaching profit targets and other achievements. Points determine your rank, and each rank unlocks new features to enhance your trading experience.
What can I use my points for?
Points are not redeemable for individual rewards or power-ups. Instead, accumulating points increases your rank within the program, which unlocks new and exclusive power-ups, such as higher leverage, faster scaling and higher drawdown limits.
Can I spend my points?
No. The points earned through the program have no cash value and cannot be exchanged for money. They serve solely as a means to redeem power-ups within the Loyalty Program.
What are ranks?
As you accumulate points, you ascend through different status ranks, unlocking new power-ups that vary by rank. These perks may include exclusive offers, services, or privileges.
When can I use new power-ups?
If you rank while your account is active, your new power-up will be available when you get a new account, for example, when you scale to a new level or purchase a new account.
How many times can I complete a quest?
Quests can only be completed once per user. You cannot earn XP for completing a quest multiple times.
Can I lose XP?
No. You cannot lose, spend or transfer XP. The only circumstance when XP might be deducted is in the case of a technical error.
Do the double scaling and 10% capital boost work together?
Unfortunately, the double scaling and 10% capital boost power-ups cannot work together. Therefore, when you achieve double scaling, the more advantageous feature, the 10% capital boost feature, will be disabled.
Can I disable a power-up?
If you do not want to use a power-up or feature, please contact us to discuss options. We may be able to disable this manually.