Funding Pips New Chapter
6/9/2024, 7:32:42 PM
Funding Pips – Past, Present and Future. We have established Funding Pips as a symbol of trust, transparency, reliability, and adaptability in the industry, showcasing our resilience and dedication.
Funding Pips – Past, Present and Future
As Funding Pips stands tall among the very few remaining firms that have consistently upheld the highest standards of integrity, we take a moment to reflect on the remarkable journey that brought us to the pinnacle of the industry. While other firms have fallen one by one, giving in to the temptation of short-term gains and ultimately sacrificing their reputation and the trust of their traders, we remain faithful in our commitment to fairness and trader satisfaction.
We have established Funding Pips as a symbol of trust, transparency, reliability, and adaptability in the industry, showcasing our resilience and dedication. Nevertheless, the current struggles across the industry are undeniable, and we do not seek to downplay them. While we acknowledge that we are not immune - our robust foundation, advanced technology, and superior team have mitigated the impact on us. As we progress, our goals include securing our and your future and keeping you updated about our current circumstances. Transparency is deeply ingrained in our core values, and we are committed to upholding it.
Continuously improving the industry as a whole and celebrating our achievements, which some of them are unique, we are also humbled by the lessons we’ve learned along the way - we’ve come to realize that real success is not just about reaching the top, but about doing so with integrity, character, and a good heart. We’ve made deliberate decisions to prioritize the happiness of all our traders, even tho a significant number of traders are manipulating the evaluation process and abuse us in bad faith once we allow them to go into the funded stage.
With a primary focus on the traders, we have amassed a community of over 200,000 traders, facilitated $50 million in payouts, and maintained a pristine record of zero payout denials. We believe that our story is a testament of the power of knowledge, ethics, hard work and resilience. We are driven by a sense of purpose and responsibility to continue setting the standard for excellence in our industry. Funding Pips strives to build an even brighter future for our skilled and genuine traders - we express deep gratitude to them for joining us on this journey. We will continue to make a positive impact on numerous lives with no intention of slowing down.
New Payout System - Tuesday Payday
Funding Pips has already pioneered a shift from the traditional 14-day payout frequency to a more innovative 5-trading-day payout cycle, setting a new standard in the industry some time ago. The only top firm that provided its funded traders a weekly payout cycle in the last month - half of the year - 365 days and more. What’s more interesting is that we did so at a significantly reduced cost compared to the other leading firms (which all have much longer payout cycles, 14 - 30 days).
As a valued trader with Funding Pips, our old arrangement enabled you to consistently get your performance commission, helping you maintain a healthy account balance, which automatically gives you a better state of mind - you will now enjoy an even better payout cycle than we’ve had. You will receive regular payouts every Tuesday and you can expect to have 4 to 5 payouts per month.
- Master accounts started on Monday can request on Tuesday (the next day);
- Master accounts started on Tuesday can be requested on Tuesday (same day);
- Master accounts started on Wednesday can be requested on Tuesday (after four trading days);
This means the payout schedule can range from the same day to 4 trading days.
A New Chapter for Funding Pips: Trading, Not Gambling
Our No Payout Denial Policy ensured the community that our funded traders receive their performance fees without exception. It is disheartening to see that this policy has led some traders to engage in careless and unprofessional trading behaviors, under the assumption that they will still receive performance fees even if they are engaging in reckless trading practices. This behavior is an abuse of the master accounts they have received from Funding Pips in good faith, and it undermines the integrity of our operations. We have always provided them the performance-based compensation and terminated our collaboration only after, which is something that is setting us apart from other prominent firms that usually blacklist traders and withhold payments. In many instances, we even gave them a second chance, showing once again our good faith and genuine interest in seeing them progress on a personal level, getting closer to their life goals.
As many people know, Funding Pips commenced its operations in November 2022, leveraging state-of-the-art in-house technology and a highly skilled team under the leadership of CEO Khaled. The firm swiftly established itself as a reputable company, driven by the steadfast motto "Built by Traders for Traders". With an unwavering commitment, we have consistently upheld the trust and support of our traders, as evidenced by our notable accomplishments. One of our competitive advantages, among many others, lies in our dedication to transparency and open communication, which has solidified our position in the industry.
As a firm, we are dedicated to providing an environment where traders can operate with confidence and peace of mind, free from concerns about performance commissions and overall financial stability. Unfortunately, the industry has experienced a significant increase in toxic and reckless trading behavior. We have observed a surge in the number of traders engaging in such practices within our firm as well. It’s sad to witness individuals who lack genuine interest in trading and fail to uphold the responsibility of managing the master accounts we have provided them - with an open heart and trust. Their actions compromise the integrity of our system and abuse this trust.
Today, we’re taking a decisive step to address this issue. Gamblers or individuals who are not interested in using their accounts safely and responsibly, navigating the markets in a smart and sustainable way, will no longer enjoy a good treatment from Funding Pips. Not many firms can proudly say that they have kept a Zero Payout Denial Policy for more than a month - Funding Pips did it for much more than a year.
We have implemented new measures to prevent individuals who act in bad faith from taking advantage of our good nature and services. Our Risk and TradeOps departments have identified certain traders who are involved in unsustainable and reckless trading practices. These practices not only harm our firm and the industry as a whole, but also undermine the success of our genuine traders. We highly value and respect our genuine and honest traders, both on a professional and personal level, genuine traders that found a warm home in Funding Pips - and we are committed to maintaining a secure and supportive trading environment for them.
We want to foster a professional and responsible trading environment - and we are committed to discouraging any hazardous, unprofessional, and toxic trading behaviors. Instead, we are encouraging a responsible and professional approach, especially on master accounts. Any instances of non-compliance will be met with decisive actions. Our focus remains on creating a supportive atmosphere for all traders striving for genuine success, underlining the importance of legitimate trading practices and respect for our firm's principles. We are fully dedicated to empowering traders who align with our commitment to fair play and responsible trading.
It’s important to eradicate any unsustainable trading practices that would be unacceptable in a real market scenario when trading personal accounts with own funds. Many other firms have already implemented specific measures to counter such detrimental trading flow, and we are committed to following suit. Our objective is to establish a new standard for ourselves and the industry. We aim to demonstrate our steadfast commitment to our sincere and skilled traders who have joined Funding Pips with good intentions. Upholding the integrity and ethics that have steered us since our inception is of utmost importance to us. In pursuit of this goal, we have clearly defined what constitutes Toxic Trading Flow and have incorporated metrics for this, which are accessible here. Moreover, we have revised our News regulations to deter reckless conduct. It is essential for traders to comprehend that Funding Pips exclusively eliminates flow that cannot be employed in live markets, such as trading important news and events, high-risk behavior, hyper-scalping, arbitrage, HFT, hedging and the list goes on. These are all types of flow that Funding Pips cannot utilize or derive any trading from.
We acknowledge and appreciate the efforts of other top companies in addressing unsustainable and reckless trading practices. We hold in high regard those companies that stand alongside us while keeping their integrity and fairness, leading the way in this endeavor. We commend their decision to take a stance against gambling and behaviors more suited to a casino than to serious trading. It is imperative to prioritize the well-being of our dedicated traders who have joined us with good intentions, honesty, and a commitment to responsible trading practices. Furthermore, we must also consider the overall welfare of our organizations and the industry. Establishing fair measures that aid traders in effectively managing their proprietary accounts without promoting careless and unprofessional trading styles, as well as inadequate risk management, is crucial. Hence, we are pleased to announce the implementation of a responsible trading policy.
We aim to bolster the industry by our TradeOps department. This department will primarily handle flow management and then proceed to externalize using diverse approaches, strategies, systems, and risk policies. This is in recognition of the continuously changing market landscape. It is well known that Funding Pips is among the few firms that generate income from trading. As we have publicly demonstrated on numerous occasions, our goal moving forward is to elevate this model to a new stage, where we can be pioneers in regulating the model. We intend to showcase the level of operational excellence we have built and provide transparency on how our trading flow is processed.
Responsible Trading Policies
At Funding Pips, we are dedicated to creating a secure and dependable environment that promotes responsible trading practices. To support this commitment, we have implemented an even better payout system than we already had and a Responsible Trading Policy that outlines our expectations for trading activities on your accounts. We require that all trading activities on your simulated accounts be legitimate and conducted with good judgment, as if they were mirrored on accounts trading in a real-world environment.
Traders are advised to utilize our simulated accounts with a high level of integrity and professionalism. This involves implementing prudent risk management strategies as if they were trading their own accounts with real funds.
Our mission is to enable authentic traders to achieve personal and financial growth, facilitating the expedited realization of their life goals. Responsible trading practices are essential for traders seeking a successful career in trading. A a responsible approach to trading offers confidence and peace of mind, placing traders in an advantageous position to reach their financial objectives and reap the associated benefits.
This policy outlines our commitment to providing education and guidance on responsible trading practices. It is designed to equip you with the necessary information to effectively manage your accounts and to avoid engaging in reckless or unprofessional trading behavior. We expect all Funding Pips traders to conduct themselves with a strong sense of professionalism, responsibility, and respect in all their trading activities.
Responsibilities
When trading with our accounts, it is essential to adhere to legitimate trading practices and refrain from engaging in Toxic Trading Flow, trading important news and events, or unprofessional trading behaviors that are unsustainable in the long term and contradict a responsible trading approach. All Funding Pips traders using our firm's resources and accounts are expected to uphold the highest standards of ethical conduct. Specifically, we expect you to refrain from participating in any activities that attempt to exploit or misappropriate our resources or the accounts we provide in good faith. Additionally, it is vital to avoid trading practices that are designed to manipulate the Funding Pips evaluation process, which is intended to provide a fair and objective assessment of trading performance.
As a Funding Pips trader, you are responsible for:
- Trading with caution: A responsible trader knows that for long term success, it’s important to trade with caution and avoid impulsive decisions. Make informed decisions based on a good analysis and be aware of the bigger picture, even outside of the market itself.
- Risk management: Avoid overtrading and overleveraging. You must apply sound risk management and have realistic expectations when engaging with the market, set your profit targets and stop-loss levels accordingly. Adjust your position size accordingly and manage your transactions in a smart way, try to make use of taking partials - sometimes the market can reverse on you or go into a consolidation and the trade will not play out as you were expecting. Excessive position sizing or risk exposure can be a detrimental strategy for traders, particularly when they are experiencing a string of unfavorable trades. In an effort to recover losses, traders may be tempted to take on larger positions, hoping for a significant winning trade. However, this approach is often driven by emotional factors, rather than sound trading principles. When a trader is in a state of distress, their decision-making is compromised, and they are more likely to abandon their strategy and risk management practices. In reality, large positions or the accumulation of multiple positions simultaneously is a high-risk approach that is not recommended by Funding Pips. A more conservative and risk-controlled approach is essential for achieving long-term success and avoiding financial losses. It is crucial to recognize that even experienced professionals typically adopt a small-risk strategy, which enables them to generate substantial profits in a stable and secure environment. It is essential to prioritize prudent risk management and avoid reckless trading practices that can lead to premature exits from the market. Amateur traders must avoid falling prey to impulsive decisions and focus on developing a disciplined approach to trading. By adopting a conservative mindset and employing effective risk management techniques, traders can mitigate potential losses and achieve sustained success over the long term.
- Capital management and profits preservation: Take care of your accounts and use them as if you were trading your own capital on your personal account. You must prioritize capital preservation when the market environment seems or tends to be much riskier than usual – uncertain market conditions should be avoided and you should implement profits preservation measures - have a smart and safe approach by not risking excessive amounts of your profits. Funding Pips offers payouts every Tuesday, meaning a payout every week, 4 - 5 payouts per month. There is no reason to engage in reckless and unprofessional trading behavior.
- Regularly review and adjust: To maintain a high level of proficiency and minimize losses, it is essential to regularly review and assess your trading performance. This process involves a thorough examination of your trading activities, including both successful and unsuccessful endeavors. By analyzing your past performance, you can identify areas for improvement, learn from your mistakes, and develop a more effective trading strategy. Regularly reviewing your trading performance enables you to refine your approach, adjust to changing market conditions, and adapt to new information. This ongoing evaluation process also helps you to develop a more nuanced understanding of your trading strengths and weaknesses, allowing you to optimize your strategy accordingly. Moreover, it is crucial to continually reassess your risk tolerance, market exposure, and overall trading goals to ensure that your trading activities align with your objectives. By doing so, you can maintain a prudent and disciplined approach to trading, minimizing the risk of significant losses or prolonged periods of underperformance. In addition, a regular review of your trading performance provides an opportunity to refine your risk management techniques, update your market analysis, and stay informed about regulatory changes and market developments. By staying informed and adapting to changing circumstances, you can maintain a competitive edge in the markets and achieve long-term success. Ultimately, the ability to regularly review and adjust your trading strategy is a critical component of effective trading. By embracing this ongoing process, you can optimize your trading performance and minimize losses.
- Compliance with the firm's rules: Traders are expected to adhere to these guidelines and ensure that their trading activities reflect responsible behavior. Failure to comply with these requirements may lead to actions being taken against the trader, including the suspension or termination of trading privileges. All traders are accountable for familiarizing themselves with and adhering to our Responsible Trading Policy and other relevant Funding Pips policies and procedures. By doing so, traders can uphold a high level of accountability, thereby fostering a reliable, healthy, long-term partnership with Funding Pips.
Best Practices
Trading is more than just a way to accumulate wealth rapidly; it involves establishing a solid foundation for long-term success. This requires embracing a disciplined approach that emphasizes patience, consistency, and meticulous risk management.
To ensure responsible trading practices, we recommend the following best practices:
Have clear trading plans and realistic goals, while being aware of the surroundings: To navigate the complexities of the financial markets with confidence, it is essential to establish a clear and well-defined trading plan. This plan should be grounded in a thorough understanding of market conditions, as well as an awareness of global events and their potential impact on the markets. The current geopolitical landscape, where uncertainty and volatility can be felt, demands a heightened sense of vigilance and adaptability. A prudent approach to trading involves setting realistic goals, carefully calibrated to current account situation, market conditions, and the prevailing circumstances. Furthermore, it is crucial to stay informed about global events and their potential implications for the markets. By adopting a thoughtful and informed approach to trading, traders can navigate the markets much better. A clear trading plan, coupled with a deep understanding of market conditions and global events, can help mitigate risk and increase the likelihood of successful trading outcomes.
Avoid gambling: When trading, it's crucial to adopt a responsible and professional approach. Treat your simulated accounts as if you're trading your personal account with own funds - you wouldn't recklessly gamble with your own funds, and you shouldn't engage in such type of behavior on your Funding Pips account either. Trading is science and gambling belongs to the casino. Trading requires a thoughtful and strategic approach. Don't get caught up in the hype of trying to get lucky in the market. Instead, focus on making informed trades based on thorough analysis and a well-thought-out strategy. A real trader doesn't rely on luck or emotions; they have a solid foundation in their approach that allows them to consistently make profitable trades. Serious traders have a deep understanding of their strategy, which gives them an edge over the market. This edge isn't just a one-time deal, but rather a consistent advantage that allows them to generate profits over time. When trading with the Funding Pips account, it's essential to be responsible and avoid reckless and unstable behaviors. Avoid all-or-nothing strategies. Pay attention to your position size and don't overleverage yourself, as this can quickly spiral out of control. It's also important to acknowledge that losses are a natural part of trading. When you experience losses, it's crucial not to let emotions get the best of you. Don't engage in revenge trading, thinking you'll recover your losses by making impulsive decisions. Instead, take a step back, reassess your strategy, and consider whether you're allowing emotions to cloud your judgment. Remember, trading is a marathon, not a sprint. It requires discipline, patience, and a long-term perspective. By adopting a responsible and professional approach, you'll be more than capable to achieve consistent positive results and, automatically, a lasting success.
Choose your trading assets and get to know them: Good traders that have long term consistency do not trade dozens of trading assets – it's essential to focus on a few key assets and really get to know them. A successful trader doesn't try to trade everything under the sun - that's a recipe for disaster. Being a smart trader means to get to know the market you’re trading, get personal with it, learn its unique characteristics. By limiting yourself to a smaller number of assets, you can develop a deeper understanding of how they work and how they respond to different market conditions. Use correlation between assets when it comes to analysis, but try not to trade everything you see out there. Some traders tend to trade multiple instruments to diversify their risk. However, even here it may happen that a trader opens several positions representing several instruments or currency pairs, but at the same time, the trader is exposed to more risk on one instrument or currency. A typical case may be the opening of several positions on different major pairs. What looks like a diversified position could simply be a massive loss. Concentrating on only a few trading assets doesn’t mean to ignore everything else. It’s important to check different major markets. This allows traders to identify patterns and correlations between assets, which can be incredibly valuable in their analysis. The point is, try not to get caught up in the excitement of having at your disposal many different markets and tradable assets, and jump from one to another in a chaotic way and in a short period of time. Trading too many instruments at once can lead to reckless decisions and increased risk. Some traders may try to diversify their risk by trading multiple assets, but this approach can be misleading. For example, opening multiple positions on different currency pairs may seem like a smart way to spread risk, but it can actually increase your exposure to losses on one particular instrument or pair. It's not uncommon for traders to get caught up in this trap and end up with a massive loss. In reality, trading multiple assets can be a double-edged sword. On one hand, it can provide diversification benefits and reduce risk. On the other hand, it can also increase the complexity of your trading strategy and make it harder to manage your positions effectively. By focusing on a few key assets and developing a deep understanding of them, you'll be better equipped to make informed trading decisions and achieve long-term success.
Stay connected to the world: Financial literacy and possessing strong knowledge in multiple areas is key to making informed decisions in the market. It's crucial to stay connected to the global economy and be aware of the latest news, trends, and events that can impact the financial markets. Don't just focus on charts and technical analysis - take a step back and consider the broader picture. Think about how historical events, current happenings, and future outlooks can all intersect and influence the market. It's not just about what's happening in your own industry or market - stay informed about what's going on in other sectors and areas of life. For example, changes in global politics, conflicts, natural disasters, or technological breakthroughs can all have an effect on the financial markets. By staying informed and thinking critically about the interconnectedness of these factors, you'll be better equipped to make informed decisions and adapt to changing market conditions. Remember, the financial markets are constantly evolving, and being aware of what's happening outside of your own bubble is crucial to staying ahead of the curve. By staying connected and informed, you'll be better positioned to navigate the ups and downs of the market and make smart decisions.
Take breaks: The importance of taking breaks in trading can't be overstated. When you're constantly bombarded with market data and your emotions are running high, it's easy to make reckless decisions that can harm your performance. Overtrading and obsessing over charts can lead to a vicious cycle of impulsive decisions, which can ultimately sabotage you. To avoid this pitfall, it's essential to take regular breaks to clear your head and regain your composure. This isn't about being lazy or uninterested in the markets – it's about being smart and strategic. By stepping away from the charts and taking a break, you can reflect on your trades, see if the strategy you have prepared for that day is still valid, and refocus on your goals. Trading requires mental toughness, discipline, and patience. Taking calculated breaks will help you focus better when you’re back on the charts. If you feel tired or not in a sharp mental state, you can always take a break and come back stronger.
