Editor’s Verdict
Pipcy launched globally in May 2026, and is run by CEO and founder Omer Ben Matityahu with Snir Achiel, a co-founder of popular firm The5ers, advising on risk. The offering is straightforward: no daily loss limits, a 12% static maximum loss, no time limit and challenge fees from just $25. It also offers something I haven't seen elsewhere, a pip-based challenge called ‘Pips Mastery’ that judges you on pips won rather than dollars banked. The evaluation is one of the more forgiving ones around. Funded traders start with an 80% profit split, with the opportunity to earn up to 100% through the Growth Plan over time. Funded accounts carry additional trading restrictions, including a 4% maximum combined floating loss.
Overview
Pipcy offers 26 challenge options across two models, with evaluation accounts from $2,500 to $200,000 and a Growth Plan that it says can scale a funded account to $5 million, with the profit split rising to 100% along the way.
Trading Platform(s) | MetaTrader 5 |
|---|---|
Minimum Evaluation Fee | $25 |
Profit-share | 80% up to 100% |
Daily Loss Limit | None |
Maximum Trailing Drawdown | None (12% static maximum loss on Classic, 250 pips on Pips Mastery) |
Funded Account Options | 26 |
Minimum Funded Account | $2,500 |
Maximum Funded Account | $200,000 or $5,000,000 |
Pipcy is one of the newer names in prop trading, and it has tried to stand out on rules rather than price alone. There's no daily drawdown to trip you up, the maximum loss is measured from your starting balance and never trails, and there's no deadline to hit the profit target. The Classic challenge comes in one-step and two-step versions. Pips Mastery measures your performance in pips on a fixed lot size, which takes position sizing out of the equation and suits traders who think in pips anyway. Everything runs on MT5. The firm is registered in Saint Lucia, has an office in Limassol, and most traders contract with Conquest Services Limited in Dubai, with any disputes under the jurisdiction of the UAE.
Pipcy Trustworthiness & Reputation
Pipcy says it is not regulated as a broker or investment firm. Before buying a challenge, assess its contractual terms, dispute arrangements and payout record rather than assume it offers the protections associated with a regulated brokerage account.
Is Pipcy Legit and Safe?
Pipcy says plainly that it isn't regulated which is normal for a prop firm, and that all trading takes place on simulated accounts, again, all standard stuff. The group has three entities, Pipcy Ltd in Saint Lucia (registration 2026-00145) runs the MT5 environment, Conquest Services Limited in the UAE contracts with most traders, and Rogano Limited in Cyprus handles UAE residents. The team is named, which is more than many new firms manage: CEO and founder Omer Ben Matityahu, Snir Achiel of The5ers on risk management, and Vladimir Ribakov running the academy.
On Trustpilot, Pipcy scores 4.0 from 66 reviews, with 66% at five stars and 15% at one star. The positive reviews talk about quick payouts, helpful support and the relaxed drawdown. Pipcy replies to 88% of negative reviews, which counts for something.
Pipcy Features
Pipcy's main selling point is the rulebook during the evaluation. No daily loss limit, a static maximum loss and no time pressure make it one of the gentler challenges to pass, provided you stay within the trading rules.
The most notable features of Pipcy are:
• Two challenge models: Pipcy Classic (1-Step or 2-Step) and Pips Mastery (X2 or X3)
• Account sizes from $2,500 to $200,000 on Classic and up to $100,000 on Pips Mastery
• Profit targets: 18% (1-Step), 12% then 6% (2-Step), 500 or 750 pips (Pips Mastery)
• No daily loss limit
• Maximum loss: 12% static on Classic, 250 pips on Pips Mastery
• No time limit and 3 minimum trading days per phase
• Profit split from 80%, rising to 100% through the Growth Plan
• First reward after 14 days, then every 7 days, processed within 48 hours
• News trading, overnight and weekend holding allowed
• Swap-free paid option at checkout
• Platform: MT5 only
Evaluation Fees & Profit-Share
Minimum Evaluation Fee | $25 |
|---|---|
Maximum Evaluation Fee | $1,499 |
Profit-share | 80% up to 100% |
Pipcy's evaluation fees are among the lowest I've seen, starting at $25 for a $2,500 Pips Mastery X3 account. All fees are one-time and Pipcy almost always has a discount code running. Using the promotional code DAILYFOREX takes 55% off every challenge, and guarantees the award of an additional free account with unlimited use once the evaluation on the first account is passed.
Examples:
Account Size $2,500 Fee $44 (Classic 1-Step)
Account Size $10,000 Fee $129 (Classic 1-Step)
Account Size $100,000 Fee $699 (Classic 1-Step)
Account Size $200,000 Fee $1,499 (Classic 1-Step)
An extra beneficial feature
The 2-Step and Pips Mastery challenges cost less again. Funded traders start on an 80% profit split, which rises to 100% at the top of the nine-level Growth Plan. There are no additional fees for scaling up.
The minimum evaluation fee at Pipcy for a $2,500 account is:
Type of fee | Fee (without discounts) |
One-time evaluation fee | $25 |
Monthly evaluation fee | $0 |
Hold-over-the-weekend | Allowed, swap rates apply (swap-free option available) |
Increased leverage | Not applicable |
Stop-loss not required at trade entry | Not applicable |
Total fees for a $2,500 account | $25 |
Account Types
Pipcy offers 26 evaluation options across its two models and account sizes.
Classic 1-Step ($2,500 to $200,000, from $44): 18% target, 12% static maximum loss, no daily loss limit, no time limit.
Classic 2-Step ($2,500 to $200,000, from $34): 12% target in phase 1, 6% in phase 2, same loss limits.
Pips Mastery X2 ($2,500 to $100,000, from $29): 500 pip target, 250 pip maximum loss, fixed lot size from 0.05 to 2 lots, 28 forex pairs only.
Pips Mastery X3 ($2,500 to $100,000, from $25): 750 pip target, same 250 pip maximum loss and fixed lots.
Pipcy doesn't publish its leverage figures. Its FAQ says you're likely to get a risk warning if a single position goes above 1:20, or 1:40 across all open positions, measured against your starting balance. Keep going after a warning and the account can be closed.
The funded stage is stricter than the evaluation, which is usual at prop firms. Once funded, your combined floating loss across open positions can't exceed 4% of the starting balance, or the account is closed. That is $4,000 on a $100,000 account. This is an additional restriction alongside the overall maximum-loss limit; it does not apply during evaluation, although excessive risk and exposure rules still do. The terms also require funded traders to close all positions at the end of each 'Reference Period'.
What are the Trading Rules at Pipcy?
The Pipcy evaluation begins once you choose your challenge, pay the one-time fee and activate the account. You have 35 calendar days to activate it before access is suspended.
Breaching the maximum loss ends the challenge immediately. A failed challenge closes that account only, and you can obviously buy another to try again. There is no inactivity rule once the account is running.
The trading rules for both Pipcy models are:
- No daily loss limit
- 12% static maximum loss (Classic) or 250 pips (Pips Mastery), measured from the starting balance
- No time limit, minimum 3 trading days per phase
- No more than three open positions in the same direction on the same instrument
- No new positions within two hours of a market close lasting two hours or more
- Stop loss not required
- Funded accounts only: 4% maximum combined floating loss
Noteworthy:
- Pipcy permits news trading and holding positions overnight and over the weekend
- Prohibited strategies include martingale, grid trading, tick scalping, high-frequency trading, arbitrage and copying trades between two Pipcy accounts
- All accounts, at every stage, are simulated. No live trading takes place, but traders can still earn real rewards based on their performance
- Your first reward can be requested 14 calendar days after your first trade, with at least 5% realised profit (125 pips on Pips Mastery), 5 active trading days, no open positions at submission, completed KYC and a successful compliance review. After that, you can request every 7 days, with a $100 minimum after applying your profit split
- Reaching the 100% split requires eight approved scale-ups, each subject to a minimum 90-day qualifying growth cycle. Classic scaling requires 25% accumulated profit, while Pips Mastery uses a 700 net pip target and scales the fixed lot size. Taking a payout resets the current growth cycle but doesn't prevent future scaling, so the fastest route takes at least 720 days
Trading Platforms
Pipcy runs exclusively on MetaTrader 5, available on Windows, Mac, web and mobile. Forex trades on raw spreads with a $6 round-turn commission per standard lot, while crypto, indices and commodities are commission-free. Classic accounts cover major and minor forex pairs, indices such as the S&P 500, NASDAQ and DAX, gold, silver, oil and cryptocurrencies including BTC and ETH. Pips Mastery is limited to 28 forex pairs.
Education
The Pipcy Academy comes free with every challenge and is run by Vladimir Ribakov, who has close to 20 years of experience in the markets. It's more substantial than most prop firm education sections, with 18 video courses covering more than 130 lessons, 10 e-books (although I could only see 4 available), a glossary of over 290 terms and five useful trading calculators. Topics run from the basics through technical analysis and risk management to passing prop challenges. Given how many traders fail on rules rather than strategy, it's worth working through before you start.
Customer Support
Customer Support Methods |    |
|---|---|
Support Hours | 24 hours a day, 7 days a week |
Website Languages |  |
Pipcy offers support 24/7 through live chat, email, phone and its Discord community, in multiple languages. The contact form promises a reply within 24 hours.
- Email: support@pipcy.com or cs@pipcy.com
- Phone: +357 96 929890
- Live Chat: available on the website and in the dashboard
How to Get Started with Pipcy
Choose your model and account size, pay the one-time fee and activate the challenge within 35 days. Pipcy also offers a free trial so you can test the platform and rules before paying.
Minimum Evaluation Fee
The minimum evaluation fee at Pipcy is $25 for the $2,500 Pips Mastery X3 account. The cheapest Classic option is $34 for the $2,500 2-Step.
Payment Methods
Withdrawal options | |
|---|---|
Deposit options |        |
Pipcy accepts credit and debit cards, bank transfer, PayPal, google and Apple pay and various cryptocurrencies, and local payment methods, depending on your country.
Rewards are paid to the method you choose when you request them, though Pipcy doesn't publish a full list of payout methods. KYC is required before your first reward.
Minimum reward: $100 after application of your profit split. Rewards can be requested every 7 days after the first, and are processed within 48 hours.
Accepted Countries
Pipcy is open to traders resident in most countries but excludes a list of restricted and sanctioned jurisdictions, including:
Russia, Belarus, Iran, North Korea, Syria, Cuba, Venezuela, Afghanistan, Myanmar, Sudan, South Sudan, Lebanon, Libya, Mali, Nicaragua, Somalia, Yemen, Zimbabwe, Ethiopia, the Central African Republic and the Democratic Republic of the Congo.
Customers who are resident in, located in, or nationals of the UAE must use Rogano Limited’s separate terms rather than contract with Conquest Services Limited.
How to Pay the Evaluation Fee?
- Credit/Debit cards
- Google Pay/ Apple Pay
- Bank transfers
- PayPal
- Cryptocurrencies
- Local payment methods
Bottom Line - Is Pipcy a Good Prop Firm?
Pipcy has built one of the friendliest evaluations on the market. No daily loss limit, a static 12% drawdown, no profit deadline and fees from $25 make it a cheap place to prove yourself, and Pips Mastery is a genuinely different idea that I really like. Funded traders start with an 80% profit split and can progress towards a 100% split through the Growth Plan, rewarding sustained performance over time. Reaching 100% requires eight qualifying scale-ups and at least 720 days under the published plan. Funded accounts also carry additional requirements, including a 4% maximum combined floating loss and the obligation to close positions at the end of each reference period. Pipcy is best suited to disciplined Forex traders who read the terms in full and size their positions well inside the limits. Pipcy has great potential as a prop firm and is one to watch for sure. Pipcy has a named management team, a 4.2 Trustpilot rating, and reports of paid rewards. It is a relatively new firm. Pipcy only uses the MT5 trading platform. Yes, you can scalp, although tick scalping and high-frequency trading are prohibited. Yes, automated trading is allowed, provided the software doesn't exploit the platform. Pipcy suggests checking your EA with support first. The maximum drawdown at Pipcy is 12% static on Classic accounts, 250 pips on Pips Mastery. There is no daily loss limit. The minimum evaluation fee at Pipcy is $25 for a $2,500 Pips Mastery X3 account, before discounts. The profit share at Pipcy starts at 80% and rises to 100% at level 9 of the Growth Plan.FAQs
Is Pipcy legit?
What platform does Pipcy use?
Can I scalp?
Is automated trading allowed?
What is the maximum drawdown?
What is the minimum evaluation fee?
What is the profit share at Pipcy?
Crypto & Broker / Prop Firm Analyst
As seen on: YahooFinance, GOBankingRates, Investopedia, Investing.com
Chief Analyst and Director of Content
Adam Lemon began his role at DailyForex in 2013 when he was brought in as an in-house Chief Analyst. Adam trades Forex, stocks and other instruments in his own account. Adam believes that it is very possible for retail traders/investors to secure a positive return over time provided they limit their risks, follow trends, and persevere through short-term losing streaks – provided only reputable brokerages are used. He has previously worked within financial markets over a 12-year period, including 6 years with Merrill Lynch.
As seen on: Pairs Of Aces, FX Street, FX Academy, TalkMarkets, Gold Eagle, Traders Union