Funding Pips is a UAE-based funded trader programme founded in 2022 that has grown quickly on the strength of aggressive affiliate marketing and a distinctive "Phantom Funding" offering — funded accounts with no minimum trading days and, on certain plans, no time limit. It is not a regulated financial firm. The Dubai jurisdiction is lighter-touch than the EU, UK or Australia, and there is no dedicated licence for the funded-account product in any major market. The firm's rapid growth and high payout splits are attractive; the relatively short operational history and the industry context of 80–100 prop firm closures in 2024–2025 mean counterparty risk must be weighed carefully before any fee is paid. An evaluation fee is at risk and is not a regulated investment.
What Funding Pips is — and what it is not
Funding Pips is a UAE-incorporated funded trader programme, headquartered in Dubai, that launched in 2022. The business model is the standard retail prop structure: you pay a challenge fee, attempt to hit a profit target without breaching drawdown rules, and on passing receive access to a funded account — a simulated environment mirroring live market conditions. Your share of simulated profits is paid as a cash payout. Instruments available include forex pairs, indices, commodities, and crypto, giving it broader coverage than some challenge-only competitors.
What Funding Pips is not: a regulated broker or financial institution. The funded-account challenge product is not a regulated investment in the UAE or any other major jurisdiction. Your challenge fee is a service payment, not a deposit with a licensed firm. There is no compensation scheme if the firm ceases operations. The UAE operates lighter-touch financial regulation for this model than the EU, UK, or Australia, which means there is less regulatory infrastructure around the product than at European-domiciled firms.
Phantom Funding: what it actually means
Funding Pips markets a "Phantom Funding" tier as a key differentiator. On certain Phantom plans, there is no minimum number of trading days required to pass the evaluation, and no fixed time limit — you can trade at your own pace without the deadline pressure that causes traders to oversize positions at the end of a window. This is a genuine structural advantage for methodical, lower-frequency traders who would otherwise have to manufacture activity to satisfy a minimum-day requirement.
The absence of a minimum trading days requirement does not, however, change the drawdown rules or profit targets that apply during the evaluation. Before treating the Phantom tier as a relaxed path to funding, read the full set of conditions — daily drawdown limits, maximum drawdown definitions, news trading clauses, and any consistency rules — against your specific trading style. A plan with no time pressure but a trailing maximum drawdown is still a plan where one strong run followed by a normal retracement can end the challenge. Verify current Phantom plan terms directly at fundingpips.com, as structures and marketing language in this space change frequently.
Drawdown rules and account structures
Funding Pips offers multiple account tiers, with sizes available from approximately $5,000 to $200,000 and above, and a profit split marketed at up to 90%. Account tiers differ in their evaluation structure, and the relevant drawdown definitions depend on the specific plan you select — read each one separately rather than treating the product line as uniform.
The drawdown rules that actually determine whether you pass or fail are more important than the headline profit split. Confirm: whether the maximum drawdown is static (calculated from the initial balance only) or trailing (following your peak equity). A trailing drawdown that follows real-time floating equity — including open, unrealised positions — is the most aggressive form. Identify which definition Funding Pips uses for each account type and model your risk floor before every session.
- Confirm whether max drawdown is static or trailing — and whether it follows closed P&L or real-time floating equity
- Phantom plans remove minimum trading days and time limits — still subject to full drawdown and consistency rules
- Account sizes from approximately $5k to $200k+ — verify current tiers and fees at fundingpips.com
- Profit split marketed up to 90% — confirm the exact split for your account tier and any scaling conditions
- Instruments: forex, indices, commodities, crypto — check which are permitted in the evaluation vs funded phase
UAE jurisdiction: what it means for trader protection
Funding Pips is headquartered in Dubai, UAE. The UAE's financial regulatory framework for the funded-account challenge model is lighter-touch than the EU (ESMA/MiFID), UK (FCA), or Australia (ASIC). This does not make the product illegal — the funded-account model is largely unregulated as a bespoke category globally. However, traders accustomed to FCA or ASIC-regulated broker protections — client money segregation, financial promotion rules, compensation scheme coverage — will find those absent here.
The Dubai jurisdiction is one reason Funding Pips has attracted traders who find EU and UK-regulated CFD platforms restrictive. MiFID's 30:1 retail leverage cap and CFD marketing restrictions do not apply in the UAE, which broadens the playable strategy space. The trade-off is regulatory infrastructure: a firm in Dubai operating a fee-funded simulation does not carry the same backstop as a firm embedded in a MiFID or FCA-regulated environment. Weigh that explicitly before paying.
Payout structure and counterparty risk
Funding Pips markets a split of up to 90% to the trader. Whether the challenge fee is refunded on first payout, and the specific payout frequency and withdrawal method, should be confirmed at fundingpips.com on the day you evaluate — these terms shift and we do not publish figures we cannot verify in real time.
Counterparty risk is the first-order consideration for any prop firm founded in 2022. Funding Pips entered the market shortly before the MyForexFunds collapse in August 2023 — where the CFTC and Ontario Securities Commission froze approximately $310 million, affecting 135,000+ clients. The broader industry contraction of 2024–2025, in which an estimated 80–100 firms ceased operations, followed the MetaQuotes MT4/MT5 licence withdrawals. A two- to three-year track record, however positive in community sentiment, is not the same as the 10+ year verified payout history that FTMO carries. Before paying any fee to Funding Pips, find at least five independently verified payout records from identifiable accounts on Reddit r/Forex, check Trustpilot for volume and response pattern, and search the firm's Discord for payout delay reports.
Risk framing — not financial advice
Nothing in this guide is financial or legal advice. A prop firm challenge fee is money at risk. If you fail the evaluation or the firm ceases operations, you lose it. There is no compensation scheme covering funded-account products in any jurisdiction. The pass rate on prop firm challenges is estimated at 5–15% across the full applicant base — the majority of fees are not refunded because most traders do not pass. Treat the fee as the cost of a high-stakes assessment, not a guaranteed path to a funded account.
Frequently asked questions
Is Funding Pips legitimate?
Funding Pips is a real, operating company based in Dubai, UAE, founded in 2022. It is not a regulated financial firm — the funded-account challenge product is not a regulated investment in the UAE or any other major jurisdiction. Community sentiment has been broadly positive, but the firm's operational history is short relative to the industry benchmark (FTMO, founded 2015). Verify at least five independently confirmed payouts from identifiable accounts before paying, and treat the fee as money at risk.
What is Phantom Funding?
Phantom Funding is Funding Pips' branded evaluation tier that removes the minimum trading days requirement and, on certain plans, any fixed time limit. The drawdown rules, profit targets, and other challenge conditions still apply in full — Phantom plans are more flexible in scheduling only, not easier on the metrics that determine whether you pass. Verify current Phantom terms at fundingpips.com.
Does Funding Pips allow news trading?
News trading permissions vary by account type and are subject to change. Check the current T&Cs at fundingpips.com for the specific plan you are evaluating — search for any mention of 'news,' 'economic events,' or 'high-impact' in the rules. If your strategy depends on NFP, CPI, or FOMC volatility, confirm explicitly whether those events are permitted before paying.
What account sizes does Funding Pips offer?
Funding Pips offers multiple account tiers from approximately $5,000 to $200,000 and above. Challenge fees vary by account size. Verify current tiers, fees, and availability at fundingpips.com — these change with promotions and product updates. Do not rely on third-party sites for current fee information.
Is the challenge fee refunded if I pass?
Whether Funding Pips refunds the challenge fee on first payout should be confirmed at fundingpips.com on the day you evaluate. A fee refund on first payout is a meaningful positive signal; the absence of one means the evaluation cost is sunk regardless of whether you pass.
How does Funding Pips compare to FTMO?
FTMO has a 10+ year operational history, Czech corporate registration, transparent drawdown mechanics, and the industry's most verified payout record. Funding Pips offers more flexible scheduling via Phantom Funding and a broader instruments list including crypto. The trade-off is operational history and regulatory transparency: FTMO's decade-plus track record is qualitatively different from Funding Pips' three-year history. If you prioritise track record and regulatory clarity, FTMO is the stronger choice. If scheduling flexibility and crypto access matter more, Funding Pips is worth evaluating — but verify payouts independently first.
What happens if Funding Pips closes?
There is no compensation scheme for the funded-account product. If Funding Pips ceased operations, any unpaid profits and outstanding challenge fees would be at risk. This is true of every prop firm in the category — MyForexFunds was shut down in 2023 with over 135,000 clients affected. Never commit more to a single prop firm than you can afford to lose entirely.
Sources & further reading
An independent, regulation-first guide to proprietary trading firms. Our editorial desk verifies every factual claim against primary sources and regulators' own publications, and never accepts payment for a better listing. Nothing we publish is financial or legal advice.