PipFarm

Introduction

PipFarm is a dynamic proprietary trading firm that offers traders the opportunity to evaluate their skills and earn rewards based on their performance. Launched in June 2023, PipFarm aims to empower traders by providing virtual trading accounts and a supportive environment to help them succeed. With a focus on transparency and consistency, PipFarm stands out in the prop trading market.

PipFarm offers three different funding programs with account sizes up to $300,000, allowing traders to choose the one that best fits their experience level and trading style. The firm is led by James Glyde, a former cTrader executive with over a decade of experience in the online trading industry. PipFarm’s innovative approach and commitment to supporting traders make it an attractive option for those looking to grow their trading careers.

Programs

1-Step Challenge

Key features:

PipFarm offers two options for the 1-Step Challenge:

12% Trailing Drawdown: Achieve a 12% profit target with a trailing drawdown.

6% Static Drawdown: Achieve a 12% profit target with a fixed drawdown set at 6% of the initial balance.

Profit Split: Starts at 70% and can be increased up to 95% through the Power Ups program.

First Payout: First payout On-Demand. Minimum withdrawal is 1%.

Daily Drawdown: 3% of the previous day’s end-of-day balance.

Maximum Trading Days: 365 days.

2-Step Challenge

Key features:

Profit Targets: 6% for each phase (total 12%).

Profit Split: Starts at 70% and can be increased up to 95% through the Power Ups program.

First Payout: First payout On-Demand. Minimum withdrawal is 1%.

Daily Drawdown: 3% of the previous day’s end-of-day balance.

Maximum Drawdown: Static drawdown at 9% of the initial balance.

Minimum Trading Days: For accounts 100K and below, 3 Profitable Trading days. For 200K account, 4 Profitable Trading days. For 300K account, 5 Profitable trading days

Maximum Trading Days: 365 days.

Payout Frequency: Every 14 days, with the option to withdraw profits more frequently through the Power Ups plan.

Killswitch feature

Understanding PipFarm’s Killswitch Feature

PipFarm has introduced a powerful risk management tool known as the Kill Switch. This feature is designed to help traders manage their risk more effectively and avoid the emotional pitfalls that can come with trading. Here’s a detailed look at how the Kill Switch works and why it’s such a valuable addition to PipFarm’s suite of tools.

What is the Kill Switch?

The Kill Switch is an automated feature that allows traders to set specific equity levels at which their positions will automatically close. This can be done through take-profit and stop-loss orders. When a trader’s equity reaches the predetermined level, the Kill Switch will close all open positions, either to lock in profits or to limit potential losses.

Benefits of the Kill Switch

Automated Risk Management: By automating the process of closing positions, the Kill Switch helps traders avoid the emotional aspect of trading. This means traders can focus on analyzing market trends and making informed decisions rather than constantly monitoring their accounts.

Preventing Daily Loss Limits: One of the biggest fears for traders is hitting daily loss limits, which can result in account deactivation. The Kill Switch addresses this issue by allowing traders to preset their desired equity levels, ensuring that positions are closed before these limits are reached.

Consistency and Discipline: The Kill Switch encourages traders to maintain discipline and stick to their trading plans. By setting exit points, traders can avoid making impulsive decisions that could negatively impact their performance.

Support for Novice Traders: For new traders, the emotional aspects of trading, such as fear and greed, can be challenging to manage. The Kill Switch provides a safety net, helping novice traders navigate the market with more confidence.

How to Use the Kill Switch

To use the Kill Switch, traders need to set their desired equity levels and configure their take-profit and stop-loss orders accordingly. This can be done through PipFarm’s trading platform, and the settings can be adjusted as needed based on the trader’s strategy and risk tolerance.

Rules

General Rules

PipFarm offers a flexible funded trader program designed to support traders without overly rigid constraints. The goal is to provide a supportive environment where traders can focus on their strategies without fear of unintentional breaches.

News Trading Rules

PipFarm allows news trading. PipFarm disables opening trades 5 mins before and after high–impact news in the platform. Not something traders need to keep track of as it’s disabled by the platform. Modifying/Closing/SL/TP of existing positions is unaffected.

IP Rules

PipFarm has no IP address rules. Using VPN/VPS is allowed.

Prohibited Trading Practices

PipFarm has a clear list of prohibited trading practices to ensure fair play and maintain the integrity of its trading environment. These practices include:

High-Frequency Trading (HFT): HFT strategies are not allowed at any stage of the program due to latency issues and potential unfair advantages.

Prop Account Hedging: Using multiple accounts to hedge trades is prohibited. This practice aims to secure a funded account without genuine risk or skill.

Prop Firm Passing Services: Paying someone else to pass the pre-funding screening test is a violation of trust and is strictly prohibited.

Copying Trades: Traders are not allowed to copy trades from other traders within the PipFarm community.

Conclusion

PipFarm offers a well-rounded suite of programs and features designed to cater to traders of various experience levels and preferences. With their 1-Step and 2-Step Challenges, traders have flexibility in choosing the program that best fits their trading style. The firm’s innovative Kill Switch feature provides an automated risk management tool that enhances trader discipline and helps prevent emotional decision-making.

The scaling plans, generous profit splits, and lack of trading restrictions like daily or maximum trading days make PipFarm an attractive choice for traders looking to grow their trading careers. The emphasis on transparency, combined with the supportive trading environment, allows traders to focus on honing their skills and achieving consistent success.

Overall, PipFarm stands out in the proprietary trading industry by offering a comprehensive and flexible platform that supports traders’ growth and success. Whether you are a novice trader or an experienced professional, PipFarm’s programs and features provide a solid foundation for achieving your trading goals.