PROP FIRM MIRROR

Prop firm rules · verified

Pipstone Capital: rules, prices and payouts

Pipstone Capital sells 3 programs across forex & CFD. List prices start at $49 for the $5K 2-Step Challenge. Every rule below comes from the firm's own pages, with the source and the date checked; last verified 30 Oct 2026.

4.3Mirror Score · Forex & CFD · Caution
3Programs · Forex & CFD
20Restricted countries
—HQ · not published
Last verified

Open Pipstone Capital in the interactive comparison Official site

Live offers

1 code or offer Pipstone Capital publishes on its own site. No affiliate or creator codes. Shown while the end date has not passed and the last check is within 7 days; confirm the price at checkout.

OfferCodeApplies toEndsSource
Buy 1 get 2 free
'Black Friday' offer: buy one challenge, get two free with BLACKBOGO		 BLACKBOGO Challenge purchases No end date given pipstonecapital.com
Checked

Mirror Score

PartWeightForex & CFD
Payout record35%3.0
Public reviews35%3.6
Rules & cost18%8.3
Track record12%4.5
Mirror Scoreout of 104.3 Caution

The Mirror Score is Prop Firm Mirror's opinion, scored separately in each market section from public reviews, payout records and the firm's published rules; reviews and reports checked 30 Oct 2026. It is not a guarantee of how a firm will treat you. How the score works · the reviews, payout trackers and incidents behind it are on the interactive page.

Programs

3 programs. Prices are the regular list price in the firm's own currency; account sizes are in US dollars unless stated.

1-Step Challenge

Model1-Step · Forex & CFD
Account sizes and list prices$5K: $59 · $10K: $119 · $25K: $299 · $50K: $429 · $100K: $699
Price notePrices from the challenge picker on pipstonecapital.com, checked 2026-10-30 (a buy-one-get-two code was running and is not applied).
BillingOne-time fee
Profit targetPhase 1: 10%
Daily loss limit4%
Max drawdown10%
Drawdown typeNot published
Profit split80% default; up to 100% with add-on
Payout frequencyBi-weekly
Payout minimumNot published
Min trading days3 trading days
Time limitNone
Consistency ruleNone; 1.5% floating-risk limit on funded
News tradingAllowed
EAs and botsAllowed only with human-like logic; no scalping, latency arbitrage, grid or rapid-fire bots
Weekend holdingAllowed
Copy tradingOnly between own accounts
Leverage / contracts1:50
PlatformscTrader, Match-Trader
InstrumentsAll offered instruments (forex, metals, indices, commodities)

Sources, checked :

Open 1-Step Challenge in the interactive comparison

2-Step Challenge

Model2-Step · Forex & CFD
Account sizes and list prices$5K: $49 · $10K: $99 · $25K: $249 · $50K: $349 · $100K: $599
Price notePrices from the challenge picker on pipstonecapital.com, checked 2026-10-30 (a buy-one-get-two code was running and is not applied).
BillingOne-time fee
Profit targetPhase 1: 8% · Phase 2: 5%
Daily loss limit5%
Max drawdown12%
Drawdown typeStatic Unverified
Profit split80% default; up to 100% with add-on
Payout frequencyBi-weekly (help centre); homepage advertises weekly payouts Unverified
Payout minimumNot published
Min trading days3 trading days per phase
Time limitNone
Consistency ruleNone; 1.5% floating-risk limit
News tradingAllowed
EAs and botsAllowed only with human-like logic
Weekend holdingAllowed
Copy tradingOnly between own accounts
Leverage / contracts1:100
PlatformscTrader, Match-Trader
InstrumentsAll offered instruments

Sources, checked :

Open 2-Step Challenge in the interactive comparison

Instant Funding

ModelInstant funding · Forex & CFD
Account sizes and list prices$5K: $89 · $10K: $169 · $25K: $399 · $50K: $599 · $100K: $999
Price notePrices from the challenge picker on pipstonecapital.com, checked 2026-10-30 (a buy-one-get-two code was running and is not applied).
BillingOne-time fee
Profit targetNo evaluation: funded from day one
Daily loss limit3%, trailing from balance/equity
Max drawdown5% trailing peak equity; does not reset after withdrawals
Drawdown typeTrailing (intraday)
Profit split80% default; 100% with add-on
Payout frequencyOn demand
Payout minimumNot published
Min trading days5 profitable days (0.5%+) in a rolling 30-day window
Time limitNone
Consistency ruleNone; 1% floating-risk limit
News tradingAllowed
EAs and botsAllowed only with human-like logic
Weekend holdingAllowed
Copy tradingOnly between own accounts
Leverage / contracts1:50
PlatformscTrader, Match-Trader
InstrumentsAll offered instruments; swap-free

Sources, checked :

Open Instant Funding in the interactive comparison

Latest rule changes

No dated rule changes found on Pipstone Capital's own pages. We don't list changes we can't date and source.

Restricted countries

Pipstone Capital lists 20 restricted countries.

Afghanistan Central African Republic Congo Cuba Guinea Haiti Iran Iraq Libya Mali Myanmar North Korea Russia Somalia South Sudan Sudan Syria Ukraine Venezuela Yemen

pipstonecapital.com now has its own Restricted Countries page (updated July 04, 2025) listing 20 countries. That is wider than the 7 in Terms §1 (Afghanistan, Cuba, Iran, Iraq, North Korea, Syria, Sudan), and all 7 are included. Mapping notes: 'Central African Rep' is shown with code 'CAF' and mapped to CF; 'Congo (Brazzaville)' is CG; Guinea is GN. 'Ukraine*' has an asterisk that the page does not explain. It is included as UA, but it may refer only to certain regions, so confirm before showing all of Ukraine as restricted. The footer also excludes FATF and EU/UN sanctions-list jurisdictions without naming them. Pakistan is not listed. The page's 'more information' link goes to a third-party payment-provider page (help.riseworks.io), which was not used as a source.

Headquarters and legal entity

CountryNot published
CityNot published
Legal entityPipstone - FZCO
StatusNot published

Terms & Conditions name the operator as 'Pipstone - FZCO' but give no registered address or country.

Good to know

What we couldn't verify

Sources

16 official pages used for Pipstone Capital, with the date each was checked. The full log is in the data log.