Pipstone Capital

What is Pipstone Capital?

Pipstone Capital is a proprietary trading firm that lets traders prove themselves on a simulated challenge and then trade a funded account — keeping up to 100% of the rewards. It's built around speed: with an 8-hour average payout time and no limit on profit targets, it's one of the faster, more flexible firms for traders who want their money quickly and room to run.

If you want fast payouts, multiple platform choices, and a cheap way in from just $49, Pipstone Capital is worth a look.

How Pipstone Capital works

Pipstone gives you three ways to get funded, so you can pick what fits your style:

• Instant — skip the evaluation and start on a funded simulated account right away.
• 1-Step — a single-phase challenge: hit the target once while respecting the risk rules.
• 2-Step — the classic two-phase evaluation for traders who prefer the traditional route.

You can trade on MetaTrader 5, cTrader, or Match-Trader, with account sizes from $5,000 up to $100,000 and leverage up to 1:100.

Pipstone Capital rules at a glance

• Profit split: up to 100% (with add-on)
• Payout speed: 8-hour average, weekly and bi-weekly options
• Overall drawdown: 10%
• Daily drawdown: 5%
• Profit target: no limit
• Minimum trading days: 3
• News trading: allowed — no restrictions
• Platforms: MT5, cTrader, Match-Trader
• Cheapest challenge: $49

Who is Pipstone Capital best for?

Pipstone is a strong fit if you:

• Want your payouts fast — an 8-hour average is among the quickest around
• Like flexibility — choose Instant, 1-step or 2-step depending on your confidence
• Trade the news and want zero restrictions around major events
• Prefer cTrader or Match-Trader, not just MT5
• Want a low-cost entry from $49

Things to keep in mind

Pipstone Capital doesn't publicly list its founding year or headquarters, so there's less transparency on the company background than with some older firms. The headline "up to 100% split" is an add-on rather than the standard rate, so check exactly what you're getting at checkout. As it's a relatively new firm, start small, complete a full payout cycle, and read the rules in full before scaling up.

Is Pipstone Capital legit?

Pipstone Capital is a proprietary trading firm offering simulated-account challenges with clearly published rules — a defined drawdown structure, a fast payout process, and no-restriction news trading. As with any prop firm, we recommend beginning with a smaller account, completing at least one full payout, and reviewing the firm's terms before committing to a larger challenge.

Pipstone Capital discount code

Pipstone Capital runs a Buy 1 Get 1 Free promotion with the code PROPI1 — buy one challenge and get a second free. Always confirm the offer is still active on the Pipstone checkout before purchasing.