PipFarm - More Troubles for Prop Firms?

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PipFarm - More Troubles for Prop Firms?

The prop trading industry has been buzzing ever since Prop Firm Match (PFM), one of the most trusted comparison and rating platforms for proprietary firms, announced the delisting of PipFarm, a Singapore-based prop firm operated by ECI Ventures Pte. Ltd. The announcement came as a surprise to many traders who viewed PipFarm as a fast-growing and innovative player offering relaxed rules, competitive profit splits, and scaling opportunities up to $1.5 million. So what exactly happened and should you be concerned?

Who Is Prop Firm Match?

Prop Firm Match is essentially the “gatekeeper” of the prop trading world. Acting as an independent rating and referral platform, it lists, reviews, and ranks prop firms based on factors such as transparency, financial stability, and trader feedback. For many traders, PFM has become a trusted filter in an industry where legitimate firms coexist with less scrupulous operators. PFM reportedly attracts over 1.2 million monthly visits and has built credibility by delisting or suspending firms that fail to meet its standards. Past examples include True Forex Funds and The Funded Trader, both of which later suffered operational breakdowns or closures. This makes PFM’s delisting of PipFarm particularly noteworthy since PipFarm remains fully operational and continues to pay traders.

Why Was PipFarm Delisted?

While the exact reasons behind the delisting remain confidential, both parties have made public statements that shed light on the tension. According to PFM, the decision followed an “extensive review process” aimed at maintaining high standards of transparency, financial health, and operational integrity. PipFarm’s CEO, James Glyde, responded by saying PFM’s final requests were “far beyond what is reasonable,” describing them as excessive even compared to what financial regulators require of licensed brokers or banks. Glyde claimed that after legal consultation, PipFarm chose not to comply on principle. Meanwhile, some traders have pointed to negative Trustpilot reviews, including complaints of payout delays and poor communication, as possible triggers for PFM’s audit. Still, PipFarm’s overall rating remains around 4 out of 5 stars, and the firm continues to issue verified payouts totaling over $500,000 according to its public blockchain records.

What This Means for Traders

Let’s be clear: delisting from Prop Firm Match does not automatically mean a company is fraudulent or insolvent. PFM undoubtedly performs its due diligence, and this article is not making any accusations or attempting to slander any firm. However, the event should serve as a warning sign for traders. Prop trading is largely unregulated, and the rapid rise of new firms means the quality and reliability of operations vary widely. Many firms are started by entrepreneurs with limited financial or risk management experience, often relying on revenue from evaluation fees rather than long-term trading success. When disputes arise over payouts, rules, or compliance, traders have little legal protection or recourse. This lack of oversight makes due diligence critical. If a firm is delisted from a respected platform like PFM, traders should pause and assess whether they are comfortable continuing to trade there, especially if payout transparency or communication begins to deteriorate.

Why Broker-Backed Prop Firms Offer More Security

One way to mitigate these risks is to trade with prop firms backed by established, regulated brokers. These entities have reputations, licenses, and compliance obligations that create a stronger safety net for traders. Take ThinkCapital, for example, a global CFD and Forex prop firm powered by ThinkMarkets, a long-standing, fully regulated broker. ThinkCapital offers traditional prop challenges and accepts traders from around the world, including the U.S., giving participants the confidence that comes with institutional-grade infrastructure and oversight. Another standout is Axi Select, the 100% free funding program from Axi, a regulated global broker. Axi Select allows traders to prove their consistency and earn funding with real capital, not simulated accounts, and without any upfront challenge fees. That combination of zero cost and genuine funding makes it one of the most trader-friendly paths in the industry today.

Takeaways

The PipFarm delisting underscores an important truth: transparency and regulation matter. In an unregulated industry, the lines between innovation and instability can blur quickly. While PipFarm continues to operate and pay traders, caution is warranted until greater clarity emerges. For those seeking longevity and reliability, broker-backed programs like ThinkCapital (save 30% this week using code: SPOOKY) and Axi Select offer the peace of mind that only comes from working with established, regulated institutions. In an environment where trust is everything, these partnerships represent a safer and smarter path for serious traders.

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