FundedFirm vs FundingPips: Which Funded Account Should You Choose?
FundedFirm vs FundingPips: Which Funded Account Should You Choose?
In the competitive world of prop trading, selecting the right firm to secure a Funded Account can significantly influence your trading success and career growth. FundedFirm and FundingPips are two popular choices among forex traders, especially those from India and Asia, each providing unique benefits and trading conditions. This blog offers a comprehensive comparison to help you decide which funded account aligns best with your trading goals.
Overview of FundedFirm and FundingPips
FundedFirm is known for its trader-centric approach with quick and transparent evaluation methods, fast payouts, and no hidden fees. This firm supports MT5 and cTrader platforms, offers leverage up to 1:100, and allows unrestricted trading styles including news trading and holding positions over weekends.
FundingPips, on the other hand, provides multiple funded account options such as Student and Practitioner accounts, with evaluation targets slightly lower than some competitors to ease qualification pressure. They support a variety of platforms including MT5, cTrader, Match-Trader, and TradeLocker, and focus on scalability and platform diversity.
Evaluation Process and Funding Speed
FundedFirm offers a simple one-step or optional two-step evaluation challenge with clear profit targets and drawdown limits, without any time constraints aside from a minimum number of trading days. This structure allows traders to pass at their own pace and get funded quickly.
FundingPips uses a multi-level evaluation structure starting with the Student account, which has an 8% profit target and a minimum of three trading days, progressing to Practitioner and Master levels. These evaluations allow trading flexibility but often restrict news trading, which could be a downside for some strategies.
Account Sizes and Scaling Possibilities
Account size impacts your earning potential on a Funded Account. FundedFirm provides accounts up to $