Pipster sells simulated prop trading challenges and funded accounts. Its site names four products: a one-step challenge, a two-step challenge, an instant funded account and Pipster Entry, which its Terms describe as "a pay-after-you-pass product with a two-stage fee structure". The site says you can choose an account size "from $1,000 up to $100K in funding". All challenge and funded accounts trade on Match-Trader.
The Terms say "All trading activity carried out through the Platform is Simulated Trading using virtual balances." The baseline profit split is 80%, and the FAQ says the risk team may raise an individual trader's split to 90% at its discretion. The operator named on the site is Data Vantix Ltd (Company No. 16540926), at 20 Wenlock Road, London.
This review uses only Pipster's own website. Our copies of its pages are fetch-tool summaries, and we rely only on the page wording they quote. Some rules in our copies are cut off mid-sentence, and we could not see a full price list for each programme and account size. We say where information was missing.
Everything in this review comes from Pipster's own web pages, saved on 10 October 2026. Rules and prices change, so check the firm's site before you buy.
| Highest profit split | Up to 90% source Firm's wording: “The Pipster risk team may, at their discretion, increase an individual trader’s profit split from 80% up to 90%.” |
|---|---|
| Cheapest account | $8.88 (list price) source |
| Account types | 1-Step evaluation, 2-Step evaluation, Instant funding (no evaluation) source |
| Markets | Forex, Indices, Commodities, Metals, Crypto source |
| Platforms | Match-Trader source |
| Allowed / offered on at least one account type | Rules can differ between account types — check the linked page for the account you want. |
| Not allowed, or rules that apply (firm says so) |
|
| Restricted countries named | Afghanistan, Central African Republic, Congo, Cuba, Guinea, Haiti, Iran, Iraq, Libya, Mali, Myanmar, North Korea, Russia, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, Yemen source Countries the firm names. Its list may also refer to sanctions lists or other countries — check the linked page. |
Pipster's site describes these products:
Prices. The FAQ says "All prices are displayed in USD." The how-it-works page says "get started from just $8.88". The wording we have does not name the programme or account size this price belongs to, and our copies do not show a full price list for each programme and account size. The challenge rules page says "Fees shown are standard prices before any valid discount." The FAQ says "Instant Funded is paid for upfront." Our copies do not say whether the challenge fees are one-time or recurring.
Activation fees. The Terms say "Standard 1-Phase and 2-Phase Challenges have no post-pass activation fee, and Instant Funded is paid for upfront." The challenge rules page says the post-pass activation fee and 30-day activation window apply only to Pipster Entry. For Pipster Entry, the Terms say the activation fee "depends on your account size and is disclosed at checkout before you pay the entry fee", and "If you do not pass, no activation fee is due." The FAQ says that if you pass, you have 30 calendar days to pay the activation fee. We could not tie an activation fee amount to an account size in our copies.
The Terms say "Your only real financial exposure in using the Services is the access, evaluation or participation fees".
The table shows the evaluation rules as the site states them for each product.
| Programme | Profit target | Daily drawdown | Maximum drawdown | Minimum trading days |
|---|---|---|---|---|
| One-step challenge | 10% | 4% | 8% (static) | Not tied to this programme in our copy |
| Two-step challenge, Phase 1 | 8% | 5% | 10% (static) | 5 |
| Two-step challenge, Phase 2 | 5% | 5% | 10% (static) | 3 |
| Instant funded account | None | 3% | Not tied to this account in our copy (see below) | Not stated |
| Pipster Entry (evaluation) | 6%, or 3% with an optional $4.99 add-on | None during the Entry evaluation | 6% (static) | Not tied to this programme in our copy |
Static and trailing. The site defines a static limit as "calculated from your starting balance and never changes", and a trailing limit as one that "follows your highest equity in real time until it reaches the threshold, then locks in place".
Trailing limits we could not place. The FAQ also lists a "10% maximum drawdown (trailing)" and "Maximum drawdown: 10% (trailing, locks at 96% threshold)". It also describes a simulated funded account with "a 3% daily loss limit and 6% trailing drawdown" that locks at 96% of the starting balance. The wording we have does not say which product each of these belongs to, so we have left them out of the table.
Time limits and consistency. The FAQ says "No, there is no time limit. You have unlimited time to complete each challenge phase." It also says "No. Pipster does not have a consistency rule." and "There is no limit on how much of your total profit can come from a single trading day". For the two-step challenge, the challenge rules page says "Daily and maximum loss limits remain the same across both evaluation phases."
Inactivity. The FAQ says "If you do not place a trade for 60 consecutive calendar days, your account will be considered inactive". Our copy does not show what happens next.
Risk rules. The FAQ says "A trader must not risk more than 50% of their permitted daily drawdown on any open position" and "Every position must have a stop loss order placed within 60 seconds of opening the trade." Our copy does not limit these rules to a named programme.
The FAQ says "Most conventional trading strategies are allowed on Pipster, as long as they reflect genuine trading behaviour". It sets these limits:
The FAQ says "Violations can result in trade invalidation, removal of profits, failure of evaluations".
Profit split. The Terms say "The baseline profit share is 80% of simulated profit, subject to the eligibility requirements". The FAQ says "The Pipster risk team may, at their discretion, increase an individual trader's profit split from 80% up to 90%." The homepage says "An increase to 90% may be granted to traders who demonstrate consistent profitability". The homepage also says traders receive between 80% and 90% "depending on your challenge configuration"; we used the Terms and FAQ, which set 80% as the baseline. The how-it-works page mentions "Performance-based milestone boosts available."; we could not see their conditions.
Timing. The FAQ says "Your first payout becomes eligible 14 calendar days after the first executed trade on that Funded Account." and "Subsequent payouts are available weekly based on that funded account's performance." It also says "All Funded Accounts: 5 minimum trading days required before being eligible for a payout". The how-it-works page says "Once approved, payouts typically process in about an hour." This is the firm's own statement.
Minimum and methods. The minimum payout is "$100 for most challenges, unless specified otherwise". The FAQ says "You can withdraw via RISE, PayPal, Bank Transfer or directly through cryptocurrency." The site lists USDT and USDC among payout options. On identity checks, the FAQ says "It's free, with no cost to verify your identity."
Payout cap. The Terms say "Each account has a maximum aggregate payout entitlement". For purchased accounts it is "12% of that account's starting balance", and "The Payout Reward Capacity applies for the lifetime of the account and does not reset or increase".
Number of accounts. The FAQ says "You can currently hold up to two funded accounts at any one time" and "There is no lifetime limit on the number of accounts you may open". We did not find a scaling plan that increases account size in our copies.
The FAQ says "There are two ways to get a challenge fee back."
For Pipster Entry, the Terms say "Once trading has begun on the funded account, the activation fee is non-refundable".
Platform. The FAQ says "Match-Trader is the only trading platform currently available for all Pipster challenge and funded accounts." and "MT4, MT5, cTrader, and TradeLocker are not currently available." The site also promotes a Pipster app on the App Store and Google Play.
Instruments. The FAQ says "You have access to 100+ instruments across five asset classes". The homepage lists them:
Leverage. The pages differ. The FAQ lists Forex up to 1:100, Indices up to 1:30, Commodities up to 1:20, Metals up to 1:10 and Crypto up to 1:2. The challenge rules page shows "Grouped maximum leverage for standard Pipster accounts and competition accounts on Match-Trader."; in our copy it lists figures such as 1:50, 1:15 and 1:5 that do not appear in the FAQ, and the wording we have does not show which instrument group each figure belongs to. That page says "These are maximum leverage limits." and that leverage and margin "can be reduced for an individual account, instrument". Check the leverage on your own account before trading.
Card logos. The site displays Visa and Mastercard logos (shown in our copy as "VisaMastercardPayCrypto"); our copy does not say how they are used.
Operator. The site names "Data Vantix Ltd • Company No. 16540926 • 20 Wenlock Road, London, N1 7GU". The Terms give the "Registered Office: 20 Wenlock Road, London, England, N1 7GU".
Regulation. The FAQ says "Pipster (Data Vantix Ltd) is not authorised or regulated by any financial services regulator" and "We do not hold or require any financial services licence or authorisation". The site also says "Pipster.io does not provide financial advice, investment recommendations, brokerage services".
Simulated accounts. The FAQ says "All Challenges and Funded Accounts take place on demo/simulated balances". The Terms say "no real money is lost or gained as a direct result of your trading activity within the Platform."
Restricted countries. The Terms say "The following countries and regions are not serviced": Afghanistan, Central African Republic, Congo (Brazzaville), Cuba, Guinea, Haiti, Iran, Iraq, Libya, Mali, Myanmar (Burma), North Korea, Russian Federation, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela and Yemen. They also say "The following US States and Territories are temporarily not serviced:" and list Guam and Puerto Rico.
Support. The contact page says "We're here 24/7 with clear answers fast."
Pipster may suit traders who are comfortable trading only on Match-Trader and who want a static maximum drawdown on the one-step or two-step challenge, with no time limit and no consistency rule. Pipster Entry offers a low upfront entry fee, with the activation fee due only after passing.
Traders should weigh the lifetime payout cap of 12% of starting balance on purchased accounts, the mandatory stop loss within 60 seconds of opening a trade, the 50% limit on risk per position, and the rule that funded and instant funded accounts cannot open a new position from 5 minutes before an event the FAQ names (our copy cuts off; it follows the news-trading rule). The baseline split is 80%; a higher split is at the risk team's discretion.
MyPropGenius Rating:
The rating measures how openly Pipster discloses its rules, pricing, payouts and ownership (our Transparency Index methodology). It does not measure how likely you are to pass or be paid.
Check the current rules and prices on the firm's own website before you buy.
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Pipster offers simulated one-step, two-step, instant funded and Pipster Entry accounts on Match-Trader, with static drawdown on the step challenges, no time limit and no consistency rule. The main limits are the lifetime payout cap of 12% of starting balance on purchased accounts, an 80% baseline split, and strict stop-loss and per-position risk rules. Check the price and leverage for your account size at checkout, as our copies of the site did not show a full price list and its leverage figures differ between pages.
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Find My MatchThe Terms set a baseline of 80% of simulated profit. The FAQ says the risk team may raise an individual trader's split from 80% up to 90% at its discretion.
The FAQ says the first payout becomes eligible 14 calendar days after the first executed trade on the funded account, with later payouts available weekly. Funded accounts need 5 minimum trading days, and the minimum payout is $100 for most challenges.
The FAQ says there is no time limit on challenge phases and that Pipster does not have a consistency rule.
You pay a $1.99 entry fee. The evaluation has a 6% profit target (3% with an optional $4.99 add-on) and a 6% static maximum drawdown. If you pass, you pay an activation fee within 30 days; if you do not pass, no activation fee is due.
Match-Trader is the only platform for Pipster challenge and funded accounts. The FAQ says MT4, MT5, cTrader and TradeLocker are not currently available.
No. Its FAQ says Pipster (Data Vantix Ltd) is not authorised or regulated by any financial services regulator, and that all challenges and funded accounts use simulated balances.