Funding Pips launched in 2022 and quickly became one of the highest-volume prop firms, thanks to low prices, a static drawdown and payouts that traders often report receiving within minutes or hours. Its unusual feature is that your profit split depends on how often you choose to be paid.
Who is behind Funding Pips?
Funding Pips is operated by Funding Pips Services Ltd, headquartered in Dubai with an offshore corporate registration. The firm reports more than $260 million paid to traders since 2022. Accounts are simulated, and the firm isn’t authorised by the FSCA.
Programs
Funding Pips offers a 1-Step challenge, 2-Step challenges (in Standard, Pro and Flex versions) and an instant-funding program called Zero. The evaluations use a static drawdown calculated from your opening balance, so profits increase your buffer instead of dragging the limit upward. There are no time limits on the evaluations.
Entry prices start at roughly $29 to $36 for a $5,000 account, among the lowest in the industry.
Payout cycles and profit split
This is the part to understand before buying. Funding Pips ties your split to your reward cycle: weekly payouts pay a 60% split, bi-weekly 80%, and monthly 100%, with an on-demand option that carries a consistency rule. Different sources report slightly different figures for some programs, so check the current table at checkout. The cycle locks permanently before your first trade, so choose carefully.
Rewards are processed on Tuesdays and typically arrive within one to three business days by bank transfer, crypto or Rise. Many traders report much faster processing.
Scaling: the Hot Seat
Consistent traders can climb a multi-level scaling path. At the top level, with around $2 million in allocation, the program reaches a 100% split and a listing on an investor marketplace.
Rules to watch
On some funded accounts, a Striking System issues warnings for rule breaches that never reset: the second strike halves your split and the fourth closes the account. Trading restricted high-impact news on funded accounts can also mean profits are deducted. EAs are allowed, but MT4 isn’t offered, so MT4-only EAs must be converted.
Platforms
Funding Pips supports MT5, cTrader and Match-Trader.
Trading Funding Pips from South Africa
Can South Africans use Funding Pips?
Yes. Funding Pips accepts South African traders; confirm eligibility at checkout.
Paying the fee in rand
At an illustrative R18 per US dollar, the $5K challenge at $36.00 costs about R648. Check today’s exchange rate and your card’s foreign transaction fee before you pay. Paying for an offshore service by card counts toward your annual offshore allowance under South African exchange control, which covers most traders’ challenge fees comfortably.
Getting paid in South Africa
Rewards are processed on Tuesdays in US dollars by bank transfer, crypto or Rise, often within hours. Choose your reward cycle carefully, because it sets your split (60% weekly to 100% monthly).
Best trading hours in SAST
The London session opens at 09:00 or 10:00 SAST depending on UK daylight saving time, and the London–New York overlap runs through mid-afternoon, which suits South African traders who trade before or after work.
Tax on Funding Pips payouts
SARS generally treats prop firm payouts as income, not capital gains, and you must declare them even though no tax is deducted. Because the income isn’t a salary, you’ll usually need to register as a provisional taxpayer and submit IRP6 returns, with payments due by the end of August and the end of February. Convert each payout to rand at the rate on the day you receive it, keep records of fees you’ve paid, and speak to a tax practitioner. This isn’t tax advice.
Regulation
Funding Pips isn’t authorised by the FSCA. The FSCA supervises brokers and financial services providers, while prop firms that sell evaluations on simulated accounts generally fall outside its licensing. That’s legal for South Africans to use, but it means no FSCA complaint route or ombud cover if something goes wrong, so a firm’s track record matters.
Reputation
Funding Pips holds a 4.5 out of 5 Trustpilot rating across more than 60,000 reviews, with many traders highlighting fast payouts.
Who Funding Pips suits
Funding Pips suits budget-conscious traders and anyone who wants a static drawdown at a low price. Patient traders who choose the monthly cycle get the best split. It’s weaker for traders who need MT4 or who want weekly cash flow without giving up a large share of profits.
Funding Pips FAQ
Is Funding Pips legit?
Funding Pips has operated since 2022, reports more than $260 million paid to traders and holds a 4.5/5 Trustpilot rating across tens of thousands of reviews.
What is the Funding Pips profit split?
It depends on your payout cycle: 60% weekly, 80% bi-weekly and 100% monthly, with an on-demand option. The cycle locks before your first trade.
Does Funding Pips use static drawdown?
Yes. The evaluations use a static maximum loss calculated from your opening balance.
Which platforms does Funding Pips offer?
MT5, cTrader and Match-Trader. MT4 isn’t available.
How fast does Funding Pips pay?
Rewards are processed on Tuesdays and usually arrive within one to three business days, often faster.
Can South Africans use Funding Pips?
Yes. Funding Pips accepts South African traders; confirm eligibility at checkout.
How are Funding Pips payouts taxed in South Africa?
SARS generally treats prop firm payouts as income that must be declared, usually through provisional tax (IRP6). Speak to a tax practitioner about your situation.