Are you curious about holding trades over the weekend and how it relates to funding pips in a prop trading firm? Well, you’re in the right place! In this blog, we’ll explore the concept of funding pips and its role in weekend trading.
We’ll discuss how funding pips work, the benefits and risks of holding trades over the weekend, and the implications for traders in a prop trading firm. If you want to learn more about this intriguing topic and how it can impact your trading journey, keep reading!
Can You Hold Trades Over the Weekend with Funding Pips?
Funding Pips, in their evaluation, reveals no constraints on involvement in news trading or maintaining weekend positions.
However, on the Master account, you have the flexibility to maintain a trade during news events and over the weekend.
Profits derived from trades initiated within 2 minutes before or after a high-impact news occurrence on the affected currency will not be considered. Our system will promptly close these trades, but it won’t result in an account violation.
Trading during high-impact news events will lead to the subtraction of any profits generated from trades executed within a restricted 4-minute window. This action will not violate the trading account; instead, only the trades opened within the specified 4-minute timeframe will be closed, and the associated profits will not be tallied.
All high-impact news events are highlighted in red on our News Calendar, with Forex Factory serving as our calendar source. If any deductions lead to breaching the daily loss limit or maximum loss limit, the responsibility for the violation rests with the trader.
It’s important to consider both financial instruments in a trading pair. For instance, BTCUSD is influenced by USD news, while EURJPY is affected by both EUR and JPY news. Indices are impacted by the country’s currency; for example, US30 is influenced by USD news, and GER40 is affected by EUR news.
About Funding Pips
- Evaluation Process
Traders need to pass the evaluation process to get funded by Funding Pips. The evaluation process consists of two phases: Student and Practitioner. Once the trader completes the evaluation, they are funded as a Master trader, with the possibility to trade up to $300,000.
- Tradeable Instruments and Commission
Traders can trade Forex, Crypto, Indices, Metals & Energies with RAW spreads and a $2 commission per standard lot round turn. Crypto, Indices, and Oil are commission-free.
- Risk Management
Funding Pips emphasizes the importance of risk management and has a scaling plan for daily and maximum drawdowns. They also have a Maximum Daily Loss, which is the amount traders are allowed to lose every day.
- Stop Loss and Leverage
Traders are required to use stop loss to limit their losses. They can also trade lot sizes as big as the leverage allows for.
- Market News and Swap Rates
Keeping up with market news is essential for making informed trading decisions. However, Funding Pips does not act as a custodian or provide custodial services.
- Option and Equity
Traders need to have the right set of skills to get funded and grow as a trader. They can risk Funding Pips’ capital using their Master trader skills.
- NFA and Assets
Funding Pips is a proprietary trading firm with the legal name ANKH PROP – FZCO, incorporated on the 25th of August, 2022. They provide traders with the possibility to trade up to $300,000.
Funding Pips offers a comprehensive evaluation process and trading rules, emphasizing risk management, the use of stop loss, staying informed about market news, and the importance of trader skills and NFA registration. Traders have the opportunity to trade various instruments and can benefit from the firm’s payout system.
For a more in-depth understanding to boost your trading success, explore our detailed review on Funding Pips. Additionally, stay updated on the latest prop firm news by visiting our website.
