Pipstone Capital
United Arab Emirates
Composite Trust Score
Multi-source aggregate of every verified trust signal we hold on Pipstone Capital. Methodology →
Distrusted - multiple negative signals; treat with extreme caution.
Price & Rating Trends
Last 39 days - how Pipstone Capital's key metrics have moved over time.
Trend data is captured nightly from the PropFirmMap database. Older history before Jul 9, 2026 may reflect the latest known value.
| Price | Account Size | Account Name | Profit Target | Max Daily Loss | Max Drawdown | Profit Split | Activation Fee | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| $130 | $10K 1 Step | 1-Step $10K | P1: 10% | $1,000 | P1: 4% | $400 | P1: 8% | $800 (Static) | 80% | Details | ||
| $121 | $10K 2 Steps | 2-Step $10K | P1: 8% | $800 P2: 5% | P1: 5% | $500 P2: 5% | $500 | P1: 10% | $1,000 (Static) P2: 10% | $1,000 (Static) | 80% | Details | ||
| $49 | $5K Instant | Instant Funding $5K | P1: No limit | P1: 5% | $250 | P1: 10% | $500 (Static) | 80% | Details | ||
| $180 | $5K 1 Step | 1-Step $5K | P1: 10% | $500 | P1: 4% | $200 | P1: 8% | $400 (Static) | 80% | Details | ||
| $192 | $5K 2 Steps | 2-Step $5K | P1: 8% | $400 P2: 5% | P1: 5% | $250 P2: 5% | $250 | P1: 10% | $500 (Static) P2: 10% | $500 (Static) | 80% | Details | ||
| $142 | $25K Instant | Instant Funding $25K | P1: No limit | P1: 3% | $300 | P1: 5% | $500 (Trailing) | 80% | Details | ||
| $253 | $25K 1 Step | 1-Step $25K | P1: 10% | $2,500 | P1: 4% | $1,000 | P1: 8% | $2,000 (Static) | 80% | Details | ||
| $217 | $25K 2 Steps | 2-Step $25K | P1: 8% | $2,000 P2: 5% | P1: 5% | $1,250 P2: 5% | $1,250 | P1: 10% | $2,500 (Static) P2: 10% | $2,500 (Static) | 80% | Details | ||
| $319 | $50K Instant | Instant Funding $50K | P1: No limit | P1: 3% | $750 | P1: 5% | $1,250 (Trailing) | 80% | Details | ||
| $386 | $50K 1 Step | 1-Step $50K | P1: 10% | $5,000 | P1: 4% | $2,000 | P1: 8% | $4,000 (Static) | 80% | Details | ||
| $314 | $50K 2 Steps | 2-Step $50K | P1: 8% | $4,000 P2: 5% | P1: 5% | $2,500 P2: 5% | $2,500 | P1: 10% | $5,000 (Static) P2: 10% | $5,000 (Static) | 80% | Details | ||
| $541 | $100K Instant | Instant Funding $100K | P1: No limit | P1: 3% | $1,500 | P1: 5% | $2,500 (Trailing) | 80% | Details | ||
| $621 | $100K 1 Step | 1-Step $100K | P1: 10% | $10,000 | P1: 4% | $4,000 | P1: 8% | $8,000 (Static) | 80% | Details | ||
| $375 | $100K 2 Steps | 2-Step $100K | P1: 8% | $8,000 P2: 5% | P1: 5% | $5,000 P2: 5% | $5,000 | P1: 10% | $10,000 (Static) P2: 10% | $10,000 (Static) | 80% | Details |
Main Benefits
No consistency rules, refund of evaluation fee on first payout, up to 100% profit split, unlimited trading days, zero activation fee, MT5 and cTrader platforms, news trading allowed
Main Drawbacks
60-second minimum trade duration rule (payout deductions if breached), TrustScore 2.1 with frequent payout-delay and BOGO-second-account complaints, trailing drawdown on Instant $25K+ accounts
Reviews
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Crypto
Credit Card
Debit Card
Crypto
cTrader
MT5
Pipstone Capital is a proprietary trading firm that funds skilled traders through performance-based evaluation challenges without requiring personal capital. It offers three models: a 1-Step Challenge, a 2-Step Challenge, and an Instant Funding model, all traded on MT5 and cTrader. The firm advertises no consistency rules, up to 100% profit split, and refund of the evaluation fee on the first payout. Contact address listed as U.A.E.; founded 2025 by Umair Raja.
Payout methods
Crypto
Amounts
Requirements
Additional payout notes
Evaluation fee is non-refundable unless you pass and get funded, in which case the entire fee is refunded with your first payout (once, on the compliant account used to request the first payout, with no violations or adjustments). Instant Funding requires 7 profitable days (>=0.5% daily growth) within a rolling 30-day window before qualifying, checked daily at 20:55 UTC.
Source: firm payout terms
General rules (apply to challenge & funded)
See how these rules compare against every other firm in the prop firm rules comparison.
Challenge vs Funded
Drawdown & risk
Challenge lifecycle
Instruments & restrictions
Additional rules
TrustPilot reviews repeatedly reference a 60-second minimum-trade-duration rule that can trigger payout deductions if two trades are closed under 60 seconds; this rule is not published in the scraped help-center articles, so it is left out of the structured booleans.
Source: firm rules page
Fair
Strengths
- Very affordable challenges (from $49)
- 100% profit split available
- Fast payouts (Varies by model (Bi-weekly 1-Step, Weekly 2-Step, On Demand Instant))
Weaknesses
- Low TrustPilot rating (2.2/5)
Red Flags
Recommended For
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Recent Activity
Score decreased from 5.5 to 4.6
Pipstone Capital Overview
United Arab Emirates-based Pipstone Capital funds CFD traders through a paid evaluation, and has operated since 2025. Entry starts at $49 across 14 evaluation challenges covering $10K, $5K, $25K, $50K and $100K.
At $49, the cheapest Pipstone Capital evaluation costs more than the $40 median across the 112 CFD firms tracked on PropFirmMap, so it is priced at a premium. The 100% maximum profit split is more generous than the 90% typical of that group. Its overall PropFirmMap score of 5.6 places it ahead of 49 of the 110 CFD firms we score.
On a funded account the profit split is Up to 100%. Payouts run on a Varies by model (Bi-weekly 1-Step, Weekly 2-Step, On Demand Instant) cycle (1-Step funded: Bi-weekly; 2-Step funded: Weekly; Instant Funding: On Demand). The drawdown rule to respect is: 3% (Instant), 4% (1-Step), 5% (2-Step) Trading is supported on cTrader and MT5.
Our own safety review grades Pipstone Capital D. Public sentiment on TrustPilot sits at 2.2 out of 5 across 440 reviews.
It was founded by Umair Raja. Registration and regulatory details on file: United Arab Emirates, https://help.pipstonecapital.com/en/articles/11969114-what-trading-practices-are-prohibited and low.
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Prop Firms Based in United Arab Emirates
Pipstone Capital is one of 35 verified prop firms headquartered in United Arab Emirates. Compare them side by side on price, profit split, payouts and safety grade.
