# Pipstone Capital — rules, pricing and payouts

> Pipstone Capital — proprietary trading firm tracked by Prop Firm Pal.

**Source:** https://propfirmpal.com/firms/unverified/pipstone-capital  
**Generated:** 2026-10-07  
**Publisher:** Prop Firm Pal — independent prop firm comparison

_Prop Firm Pal earns affiliate commission from some listed firms. This is disclosed on-site and does not affect the computed ranking order._

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## Key terms
| Field | Value |
| --- | --- |
| Verification | Listed, not verified |
| Community rating | 4.0/5 from 1 review |
| Evaluation types | not published |
| Cost to a $100,000 funded account | not published |
| Cheapest entry price | not published |
| Instant funding | not offered |
| Account sizes | not published |
| Maximum profit split | not published |
| Phase 1 profit target | not published |
| Daily drawdown | not published |
| Maximum drawdown | not published |
| Platforms | not published |
| Instruments | not published |
| Payment methods | not published |
| Payout methods | not published |
## Is Pipstone Capital legit?

Prop Firm Pal has not verified Pipstone Capital, so this is not an endorsement: it is what the record shows. Its own pages name the operating company as Pipstone - FZCO. Its website has been active in Prop Firm Pal's monthly traffic record since November 2025, and traffic over the last three months is growing fast. Its payout policy is published, and summarised on the Payouts tab.

| Record | What we hold |
| --- | --- |
| Company | Pipstone - FZCO |
| In our traffic record | Since November 2025 (11 months) |
| Traffic, last three months | Growing fast (+98% to September 2026) |

- Company: "These Terms of Service, presented by Pipstone - FZCO ("Company", "we", "our", or "Pipstone"), govern the use of services provided on the website pipstonecapital.com (the "Website")." — https://pipstonecapital.com/terms-conditions

## What this firm publishes

Pipstone Capital is a forex prop firm run by Pipstone - FZCO that offers three routes to a simulated funded account: an Instant Funding account with no evaluation, a 1-Step challenge and a 2-Step challenge. Account sizes run from $5,000 to $100,000, and its scaling plan adds 25% to a funded account every 3 months for traders who make at least 8% over that period. Traders use MetaTrader 5, cTrader or Match-Trader across forex, commodities, indices and crypto. Founder and CEO Umair Raja describes Pipstone Capital as a trader development platform built on simulation-based challenges.

The 2-Step challenge sets an 8% profit target in phase 1 and 5% in phase 2 with a 5% daily loss limit; the 1-Step asks for 10% in a single phase with a 4% daily loss limit. Both use a static drawdown fixed at the starting balance, need 3 minimum trading days per phase and have no time limit. Instant Funding accounts have no profit target, a 3% daily and 5% trailing maximum drawdown, and ask for 5 profitable days within a rolling 30-day window. News trading, overnight holding and weekend holding are allowed on every model. The Pipstone Capital rules most likely to cost an account: trades closed in under 60 seconds count as HFT, buy and sell positions on the same instrument are a hard breach, EAs must follow human-like logic, and copy trading is allowed only between accounts one person owns. The help centre says a consistency rule is encouraged but not enforced in all plans.

The help centre gives an 80% profit split on the 1-Step and 2-Step, and a 100% split is sold as a checkout add-on. On those two challenges the first withdrawal comes 14 calendar days after the first trade and later ones bi-weekly, or weekly with a paid add-on. Instant Funding payouts are on demand once 7 profitable trading days are complete, a different count from the 5 days on the Instant Funding page. Pipstone Capital says rewards arrive on average within 8 hours of approval, by bank transfer or crypto, after KYC. The 2-Step fee is refunded with the first payout; the Instant and 1-Step fees are not refunded. Challenge prices were not found on the pages read, and traders in 20 listed countries and regions, including Russia, Iran, Cuba and Venezuela, are not supported.

_Compiled from Pipstone Capital's own published pages, retrieved 2026-09-13. Not independently verified by Prop Firm Pal._

| Field | Value | Source |
| --- | --- | --- |
| legalName | Pipstone - FZCO | [published page](https://pipstonecapital.com/terms-conditions) |
| founders | Umair Raja | [published page](https://pipstonecapital.com/about-us) |
| ceo | Umair Raja | [published page](https://pipstonecapital.com/about-us) |
| platforms | MetaTrader 5, cTrader, Match-Trader | [published page](https://pipstonecapital.com/) |
| availableAssets | Forex, Commodities, Indices, Cryptocurrencies | [published page](https://help.pipstonecapital.com/en/articles/11983678-what-instruments-can-i-trade) |
| paymentMethods | Debit and credit cards (Visa, MasterCard, American Express), Crypto (Bitcoin, USDT, Ethereum, Litecoin, Tronix, SOL), Local or international gateways by locatio | [published page](https://help.pipstonecapital.com/en/articles/11968636-how-can-i-pay-for-an-evaluation) |
| payoutMethods | Bank transfer, Crypto | [published page](https://help.pipstonecapital.com/en/articles/11983686-how-are-payouts-made-at-pipstone) |
| payoutFrequency | On demand on Instant Funding accounts once 7 profitable trading days are complete; bi-weekly on 1-Step and 2-Step accounts, or weekly with a paid add-on | [published page](https://help.pipstonecapital.com/en/articles/11969043-can-i-withdraw-profits-from-pipstone) |
| restrictedCountries | Afghanistan, Central African Republic, Congo (Brazzaville), Cuba, Guinea, Haiti, Iran, Iraq, Libya, Mali, Myanmar, North Korea, Russia, Somalia, South Sudan, Su | [published page](https://pipstonecapital.com/restricted-countries) |
| maxProfitSplitPercent | 100 | [published page](https://pipstonecapital.com/) |
| positioning | A trader development and education platform built on simulation-based challenges | [published page](https://pipstonecapital.com/about-us) |
| maxAccountSize | 100000 | [published page](https://pipstonecapital.com/challenges) |
| maxAllocation | 400000 | [published page](https://pipstonecapital.com/) |
| scalingPlan | Funded account size increased by 25% every 3 months with at least 8% profit over the 3 months, no rule breaches and active trading each month; no cap on the num | [published page](https://help.pipstonecapital.com/en/articles/11969035-what-is-the-scaling-plan) |
| resetPolicy | A free account reset is sold as a checkout add-on | [published page](https://pipstonecapital.com/challenges) |
| refundPolicy | 2-Step Challenge fee refunded once, with the first payout, if the account is compliant; no refund on Instant or 1-Step; evaluation fees otherwise non-refundable | [published page](https://help.pipstonecapital.com/en/articles/11968650-is-my-evaluation-fee-refundable) |
| kycRequirements | KYC verification required before any payout; may include identity verification, tax forms or other documents | [published page](https://pipstonecapital.com/terms-conditions) |
| payoutProcessingTime | Average of 8 hours after approval | [published page](https://pipstonecapital.com/) |
| supportChannels | Email (support@pipstonecapital.com) | [published page](https://pipstonecapital.com/terms-conditions) |
| supportHours | 24/7 | [published page](https://pipstonecapital.com/) |
| tradingHours | Weekdays and weekends on Instant Funding accounts | [published page](https://help.pipstonecapital.com/en/articles/12590944-what-is-the-instant-funding-model-and-how-does-it-work) |
| rules | [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object Object], [object | — |
| plans | 7 plans | [published page](https://help.pipstonecapital.com/en/articles/11983693-what-are-the-drawdown-rules) |

## Frequently asked questions

### What is Pipstone Capital's profit split?

Pipstone Capital's help centre lists an 80% profit split on the funded stage of the 1-Step and 2-Step challenges. A 100% reward split is sold as an add-on at checkout.

### Does Pipstone Capital offer instant funding?

Yes. The Instant Funding account skips the evaluation, has no profit target, and runs with a 3% daily drawdown and a 5% trailing maximum drawdown. It also asks for 5 profitable days within a rolling 30-day window.

### What are the Pipstone Capital challenge rules?

The 2-Step challenge needs 8% in phase 1 and 5% in phase 2 with a 5% daily loss limit, and the 1-Step needs 10% with a 4% daily loss limit. Both require 3 minimum trading days per phase and have no time limit.

### Does Pipstone Capital use a trailing drawdown?

Only on Instant Funding accounts, where the 5% maximum drawdown and the daily drawdown both trail and withdrawals count against the limit. The 1-Step and 2-Step accounts use a static drawdown locked at the starting balance, in evaluation and funded stages.

### Does Pipstone Capital allow news trading and EAs?

News trading is allowed on all models. EAs and bots are permitted only if they operate with human-like logic, and strategies built for scalping, latency arbitrage, grid trading or rapid-fire execution are not allowed.

### How do Pipstone Capital payouts work?

On the 1-Step and 2-Step, profits can be withdrawn 14 calendar days after the first trade and bi-weekly after that, or weekly with the 7-day payout add-on. Instant Funding payouts are on demand after 7 profitable trading days, paid by bank transfer or crypto, with rewards arriving on average within 8 hours of approval.

### Does Pipstone Capital refund the challenge fee?

Only on the 2-Step challenge, where the full evaluation fee is refunded once with the first payout if the account is compliant. The help centre says no refund applies to the Instant and 1-Step accounts.

### Does Pipstone Capital have a consistency rule?

Pipstone Capital's trading rules article says a consistency rule is encouraged but not enforced in all plans, and no percentage is published. Instant Funding accounts instead require 5 profitable days within a rolling 30-day window.

### Does Pipstone Capital allow copy trading and hedging?

Copy trading is allowed only between accounts owned by the same person, with the Pipstone Capital account as the master. Hedging with simultaneous buy and sell positions on one instrument, or across related accounts, is prohibited.

### Which countries are restricted at Pipstone Capital?

Pipstone Capital lists 20 unsupported countries and regions, including Afghanistan, Cuba, Iran, Iraq, North Korea, Russia, Syria, Venezuela and Yemen. Ukraine also appears on the list, marked with an asterisk the page does not explain.

### Does Pipstone Capital have a scaling plan?

Yes. A funded account grows by 25% every 3 months when the trader makes at least 8% over that period with no rule breaches and trades each month, with no cap on the number of increases.

### How much does a Pipstone Capital challenge cost?

Challenge prices were not found on the pages read. The challenge pages list account sizes from $5,000 to $100,000, and extras such as a 100% reward split, weekly payouts and a free reset are sold as add-ons at checkout.

## Related pages
- [Pipstone Capital rules](https://propfirmpal.com/firms/unverified/pipstone-capital/rules) — markdown: https://propfirmpal.com/firms/unverified/pipstone-capital/rules.md
- [Pipstone Capital payouts](https://propfirmpal.com/firms/unverified/pipstone-capital/payouts) — markdown: https://propfirmpal.com/firms/unverified/pipstone-capital/payouts.md
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- [Pipstone Capital web traffic history](https://propfirmpal.com/firms/unverified/pipstone-capital/traffic)