PipStone Capital
Your Trading Journey, Your Opportunity.
Starting Challenge Fee
USD 49.00
Coupon
ARCHANAVisit PipStone Capital and confirm the account, price and coupon terms before purchase.
Billing period, renewal price and additional fees are not verified. Check the firm's terms.
Firm Overview
Program rules and external ratings are recorded information. A profile update date is not proof that every rule or offer was checked on that date. Confirm the exact program and stage with the firm before purchasing.
About PipStone Capital
Pipstone Capital is a trader development and simulated trading evaluation platform offering 1-Step, 2-Step and Instant programs. Traders can choose account sizes from $5,000 to $100,000 on its challenge page, with selected programs offering no time limit, multiple trading platforms and performance-based rewards. Platform availability and account rules vary by program and region. Use coupon code ARCHANA to receive a flat 15% discount on challenges, subject to the validity and terms of the offer.
Instruments & Assets
4 instrumentsForex
EURUSD, GBPUSD, USDJPY, AUDUSD, USDCAD, USDCHF, NZDUSD
Major, minor and exotic currency pairs. Available symbols depend on the trading platform. Copy entry
Indices
US30, NAS100, SPX500
Major US stock market indices; verify the exact ticker names on the platform. Copy entry
Metals
XAUUSD, XAGUSD
Gold and silver markets. Confirm both symbols are available on the selected platform. Copy entry
Crypto
BTCUSD, ETHUSD
Cryptocurrency markets, including Bitcoin and Ethereum pairs; verify platform availability. Copy entry
Leverage
| Instrument | Account / Program | Max Leverage | Notes |
|---|---|---|---|
| Forex | 1-Step Challenge | 1:50 | No time limit; leverage subject to program rules. Copy row |
| Forex | 2-Step Challenge | 1:100 | Two-phase evaluation; leverage subject to program rules. |
| Forex | Instant Funding | 1:50 | Instant model; check applicable risk limits. Copy row |
| Metals (Gold) | 1-Step / 2-Step / Instant | 1:50 / 1:100 / 1:50 | Leverage varies by challenge model. |
Commissions
Forex
All Programs
No commission charged by the firm; platform fees may apply.
Indices
All Programs
Index commission rate to be confirmed
Metals
All Programs
Metals commission rate to be confirmed
Crypto
All Programs
Crypto commission rate to be confirmed
Consistency Rules
Profit Consistency Rule
All Programs
Limits the share of total profits that can come from a single trading day, where applicable.
The best trading day's profit must not exceed 30% of total accumulated profit, if this rule applies to the selected program. Check the official challenge terms before payout.
Lot Size Consistency
All Programs
Monitors changes in position sizing to encourage consistent risk management.
Compare position sizes across trades and follow the applicable program's lot-size restrictions.
Minimum Trading Days
1-Step / 2-Step Challenge
Requires traders to trade on the minimum number of separate days specified by the challenge.
A trading day counts only when it meets the firm's official activity requirements.
Daily Profit Concentration
All Programs
Tracks the percentage of total profits generated on the most profitable trading day.
Calculate the best day's profit as a percentage of total accumulated profit, if the program applies a consistency rule.
Firm Rules
Drawdown
Maximum Daily Drawdown
AllowedTraders must remain within the maximum daily loss limit specified for their selected account. The applicable threshold and calculation method depend on the program's official rules.
Maximum Daily Loss
AllowedTraders must comply with the maximum daily loss limit applicable to their selected account. Breaching this limit may result in account termination. Check the specific program rules for the exact threshold and calculation method.
Trading Style
News Trading
AllowedNews trading is subject to the rules of the selected account program. Traders must follow all applicable risk-management requirements and prohibited-strategy rules. Check the current program terms for any restrictions on trading during high-impact news events.
[News Trading]
Risk Management
Maximum Overall Drawdown
AllowedTraders must remain within the maximum overall drawdown limit applicable to their selected account. Exceeding the permitted loss threshold may result in account termination. The exact limit and calculation method vary by program, so traders should review their account-specific rules before trading.
Challenges & Available Accounts
2 Active Accounts| Account Size | Program | Target / Split | Drawdowns | Time / Days | Price | Coupon | Action |
|---|---|---|---|---|---|---|---|
$5K PipStone Capital 15% Off All Challenges Billing period, renewal price and additional fees are not verified. Check the firm's terms. | 1-Step Challenge | Not verified Split: Up to Not verified | Max: Not verified Daily: Not verified | Not verified Min: Not verified | USD 49.00 | Direct Deal | Get Deal |
$25K PipStone Capital Discount Code "ARCHANA" — 15% Off $25K Challenge Billing period, renewal price and additional fees are not verified. Check the firm's terms. | 2-Step Challenge | Not verified Split: Up to Not verified | Max: Not verified Daily: Not verified | Not verified Min: Not verified | USD 49.00 | Direct Deal | Get Deal |
$5K Account
1-Step Challenge · Not verified
Billing period, renewal price and additional fees are not verified. Check the firm's terms.
$25K Account
2-Step Challenge · MT5 & cTrader
Billing period, renewal price and additional fees are not verified. Check the firm's terms.
Active Promo Codes for PipStone Capital
PipStone Capital Coupon Code "ARCHANA" Get 0% Discount On All Plans
Expiry not provided•0 copies•Applies to: All Plans
ARCHANAPayout Policy
1-Step & 2-Step Challenges
80%Instant Funding
80%2-Step Challenge
80%Restricted Countries
Traders residing in the following 4 jurisdictions are currently prohibited from opening accounts with PipStone Capital.
Afghanistan
Central African Republic
Congo (Brazzaville)
Cuba
Frequently Asked Questions
Trustpilot Reviews & Rating
Trustpilot feedback is mixed but predominantly negative. Common complaints include payout delays, account rule enforcement, and customer support difficulties. Some traders report positive experiences, including successful payouts and helpful support. Prospective traders should carefully review the applicable trading rules and payout conditions before purchasing a challenge. Ratings and review counts may change over time.
PipStone Capital's external rating can change. Follow the source link for current reviews; this site does not collect this review aggregate.
Final Verdict & Conclusion
PipStone Capital offers multiple simulated trading programs, but traders should carefully assess payout conditions, drawdown rules, and customer feedback before purchasing.
Best suited for traders who want to compare Instant Funding and evaluation-based programs, understand risk-management rules, and are comfortable reviewing payout conditions before committing to a challenge.
Pros
- Multiple challenge options
- Instant Funding program available
- Several trading platforms advertised
- Profit-split upgrades may be available
- Published trading rules and Help Center
Cons
- Payout terms vary by program,
- Drawdown rules require careful attention,
- Some features may require paid add-ons,
- Trustpilot feedback should be reviewed before purchase,
- Program conditions may change.
Summary Assessment
PipStone Capital provides a range of simulated prop trading programs for traders seeking different evaluation and funding options. Its advertised features include multiple challenge types, several trading platforms, and potential profit-split upgrades. However, traders should not choose a firm based on advertised profit splits alone. Carefully review the rules for your specific account, including daily and overall drawdown limits, payout eligibility, minimum trading requirements, and any optional add-on costs. Independent customer reviews also deserve consideration. Overall, compare the current terms with other firms and only purchase a challenge if you understand and accept its rules and risks.