Prop trading has a new way to keep score. For the first time, traders can qualify based on the pips they earn rather than the dollars they generate. The shift comes from Pipcy, a prop trading firm with traders in 47 countries, whose Pips Mastery Challenge has opened a new category of trader evaluation.
On the surface, it is a change of units. Underneath, it removes the biggest distortion in modern prop evaluations: position size. A trader on a $2,500 account and a trader on a $100,000 account are graded on the same scale. The only thing being tested is how well this person actually trades.
The Problem With Dollars ($)
Since online prop firms first appeared, nearly every evaluation has followed one template. A trader pays a fee, receives a simulated account, and must grow it by 8 to 10 percent without breaching drawdown limits set in dollars or percentages. On paper, a fair test. In practice, it often measures how much risk a trader is willing to take under time pressure.
Two traders can run the same strategy with the same entries and exits and finish with completely different results, because one sized positions more aggressively. A careful trader who banks 300 pips on small positions can fail a dollar-based challenge. A reckless trader who gets lucky on two oversized positions can pass it. Many evaluations end up working like a leverage lottery.
That flaw shows up in the industry’s most uncomfortable statistic. Most participants fail prop firm challenges, and over-leveraging sits at the top of nearly every study of why.
This is the problem Pipcy set out to solve. The firm was founded by Omer Ben Matityahu, a fintech entrepreneur with years of hands-on experience in proprietary trading, who built the company around a blunt position: account size has distorted how the industry measures talent, and stripping the evaluation down to pips leaves nowhere to hide. Rather than writing another rule telling traders to manage risk, Pipcy built the risk management into the instrument itself.
How the Pips Mastery Challenge Works
The rulebook is short. Every account carries a fixed lot size matched to its balance, from 0.05 lots on a $2,500 account up to 2 lots on a $100,000 account. Position sizing is no longer a choice the trader can get wrong. With size locked, net pips become a clean record of timing, direction and discipline. Five hundred pips is five hundred pips, whether the account is $2,500 or $100,000.
Two variants are offered. Mastery X2 sets a target of 500 net pips. Mastery X3 raises the target to 750 pips in exchange for a lower entry fee, starting at $18. Competing entry-level challenges usually cost between $32 and $165, which makes Pips Mastery one of the cheapest routes into funded trading anywhere.
Both variants share the same core rules. Maximum loss is 250 pips, a minimum of three trading days applies, and there is no daily drawdown limit of any kind, so one volatile session cannot end a challenge while the account stays inside its overall limit. News trading, which many established firms restrict or ban, is allowed: a trader who can execute through high-impact events has a skill worth rewarding, not punishing.
The challenge covers one asset class: forex. Trading runs on MetaTrader 5, with 21 timeframes, full charting and depth of market on desktop and mobile. Keeping the test forex-only keeps the unit of measurement honest. A pip is a pip, and every result compares on equal footing across every account size.
What Successful Traders Earn
Passing the challenge is step one of the model, not its end. Funded Pips Mastery traders scale into lot sizes of up to 16 lots as they progress through funded levels, and can earn up to $400 per pip at the highest tiers. Profit splits reach 95 percent, among the highest available anywhere, and payout requests are processed within 48 hours.
Trained the Way Professionals Are Trained
The staged fixed-lot structure copies how institutional desks hand out capital. Nobody gives a new trader maximum size on day one, and no trader can triple their own limit on a confident afternoon. Size is earned through consistency, never seized through emotion.
That structure carries the fingerprints of Snir Achiel, who leads Risk Management and Consulting at Pipcy, has spent over 15 years in forex, stocks and options markets, and co-founded The5ers, one of the established names in the prop space. His specialty, risk management and the supply and demand method, is visible throughout the program’s design.
The format also changes trading psychology. Since participants cannot increase size to win back losses quickly, revenge trading, the habit responsible for more blown accounts than any other, loses its engine. Attention shifts from the next hundred dollars to the next hundred pips, and the rational way back from a drawdown becomes the same as the way forward: patient, well-executed trades.
Education Built Around the Model
Pipcy pairs the challenge with free education through Pipcy Academy, led by Vladimir Rybakov, a CFTe-certified financial technician with 19 years of market experience, founder of HomeTraderClub, and an award-winning educator. The curriculum covers price action, risk management and market behavior, the exact skills of pip-based evaluation tests. The firm also runs an educational blog, a video hub with weekly forecasts, and active communities on Discord, Telegram and YouTube.
Early Traction Across 47 Countries
The pip-based model has found an audience quickly. Pipcy serves more than 1,264 active traders across 47 countries, has paid out over $5.3 million in rewards, and runs live support around the clock. The firm has been featured in Finance Magnates, FXEmpire, Benzinga and StreetInsider.
Where most challenge providers license third-party systems, Pipcy built its own stack: platform, CRM and trader dashboard. The company credits that choice for its 48-hour payouts and its ability to ship changes straight from trader feedback.
Pips Mastery sits alongside the percentage-based Pipcy Classic Challenge, which offers a 12 percent maximum loss, one of the most generous drawdown allowances in the industry, no daily limit, one-step and two-step formats, and scaling up to $3,000,000. Between the two, traders choose their own yardstick: dollars or pips.
A Benchmark Others Will Follow
Every serious competitive field eventually finds a way to separate skill from bankroll, the way poker did with tournaments and chess did with ratings. Prop trading had not, until now. New categories start when someone changes the unit of measurement, and whether or not rivals adopt the format, the record will show prop trading’s first pip-based evaluation was built at Pipcy.
Both variants of the Pips Mastery Challenge are available now at pipcy.com/challenges/pips-mastery.
