Prop trading has a new way to keep score. For the first time, traders can qualify for funding based on the pips they earn rather than the dollars they generate. The shift comes from Pipcy, a proprietary trading firm 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. In the Pips Mastery model, 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 they trade.
The Problem With Dollars
Since online prop firms first appeared, nearly every evaluation on the market has used the same template. Traders pay an entry fee, receive a simulated account, and must hit a profit target of 8 to 10 percent while staying inside daily and overall drawdown limits set in dollars or percentages.
Experienced traders know the flaw in that template. Dollar targets reward leverage as much as skill. A trader willing to double position size can reach a target in half the time, or breach the drawdown in a single session. Many evaluations end up working like a leverage lottery, and the failure rate among participants stays high year after year. Over-leveraging sits at the top of nearly every study of why traders fail these challenges.
Pipcy’s answer was to take that decision away entirely. Every Pips Mastery account carries a fixed lot size matched to its balance, from 0.05 lots on a $2,500 account 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.
The approach reflects the background of founder and CEO Omer Ben Matityahu, a fintech entrepreneur with years of hands-on experience in proprietary trading who led the design of Pipcy’s platform from the ground up. Rather than writing another rule telling traders to manage risk, the firm built the risk management into the instrument itself. With fixed lots, the challenge cannot be gamed with size. Five hundred pips is five hundred pips whether the account is $2,500 or $100,000, which means the evaluation and the skill finally measure the same thing.
Inside the Model
The Pips Mastery Challenge comes in two variants. Mastery X2 asks traders to reach 500 net pips. Mastery X3 sets the target at 750 pips and costs less to enter, with fees starting at $18. That entry price undercuts most competing evaluations, which usually start between $32 and $165.
Both variants share the same core rules. Maximum loss is 250 pips. There is no daily drawdown limit of any kind, so one rough session cannot end a challenge while the account stays inside its overall limit. A minimum of three trading days applies, and news trading is allowed, a freedom many established firms restrict.
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. Every pip earned can be compared directly across every participant and account size.
Traders who pass enter a progression system rather than a flat funded account. Funded lot sizes scale up to 16 lots as traders prove consistency through funded levels, with earnings of up to $400 per pip at the top tiers. Profit splits reach 95 percent, and payout requests are processed within 48 hours.
Trained the Way Professionals Are Trained
The staged fixed-lot structure copies how institutional trading desks hand out capital. New traders start small. Size is granted as reliability is proven, never taken by the trader on impulse.
On a professional desk, nobody hands a new trader maximum size on day one, and no trader can triple their own limit on a confident afternoon. Pips Mastery reproduces that discipline for retail traders: size is earned through consistency, not seized through emotion. The 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. The rational way back from a drawdown becomes the same as the way forward: patient, well-executed trades.
Traders new to funded trading who want to understand what a prop firm is before attempting an evaluation can use Pipcy’s free educational material on proprietary trading, risk management and trading psychology, along with Pipcy Academy, a structured education program led by Vladimir Rybakov, a CFTe-certified financial technician with 19 years of market experience and founder of HomeTraderClub.
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’s work has been covered by Finance Magnates, FXEmpire, Benzinga and StreetInsider.
Where most challenge providers license third-party dashboards and CRMs, Pipcy built its own stack: platform, CRM and trader dashboard. The company credits that choice for its 48-hour payout processing and for its ability to ship product changes straight from trader feedback.
Pips Mastery sits alongside the firm’s 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 programs, traders choose the measuring stick that fits their style, dollars or pips.
A Benchmark Others Will Follow
Pipcy’s founders, traders and fintech entrepreneurs with over 15 years in forex, stocks and options, are open about where they think this leads. They expect pip-based evaluation to outgrow Pipcy and become an industry benchmark. New categories tend to start when someone changes the unit of measurement, and the industry has spent a decade fine-tuning dollar-based challenges while traders kept failing them for the same reasons. Pips Mastery changes what is being measured. If others follow, the record will show prop trading’s first pip-based evaluation model was built at Pipcy.
Both variants of the Pips Mastery Challenge are available now at pipcy.com/challenges/pips-mastery.
About Pipcy
Pipcy is a proprietary trading challenge platform created by traders and industry professionals. The firm offers the industry-first pip-based Pips Mastery Challenge and the flexible Pipcy Classic Challenge, backed by free education through Pipcy Academy, in-house technology, and performance splits of up to 95 percent. Learn more at https://pipcy.com.
