The definition
A forex prop firm is a proprietary trading firm whose accounts let you trade currency pairs, usually alongside metals, indices, energies and crypto, under the firm's rules rather than with your own capital. You pay a one-off fee for an account, trade it to a published rulebook, and once the account is funded you keep an agreed share of the profit.
At WhitePips the forex accounts are the CFD line, on MetaTrader 5. Every account is simulated: it trades live market prices with virtual capital, and no money of yours is placed at market risk. The payouts on a funded account are real money, paid under the Payout Policy. For the general idea behind prop trading, start with What is a prop firm?; this article is about what it means for a forex trader.
Step one: choose a plan and pay the fee
The fee is set by the plan and the account size, from $2.5K to $200K, and it is a one-off payment, not a subscription. Three plan families:
- Edge 1 Step (from $43 at $2.5K) and Edge 2 Step (from $32 at $2.5K): evaluations, funded at 80%, up to 95% as you scale.
- Prime 1 Step and Prime 2 Step (from $514 and $469 at $50K): evaluations that, once funded, pay 80% for the first 30 days and then 100%, plus a salary of 1% of the account size a month. The fee is refunded in full once the account is funded and in profit after 30 days.
- Instant Pro (from $154 at $2.5K) and Instant Go (from $72 at $2.5K): no evaluation, funded at purchase, at 75% up to 90% and 70% up to 85%.
Every price is on Compare every plan. Edge, Prime or Instant helps you choose between them.
Step two: pass the evaluation, or start funded
On an evaluation you reach a profit target without breaching the loss limits: 10% on the 1 Step plans, or 7.5% then 5% on the 2 Step plans. There is no time limit. You also need a minimum number of profitable days of +0.5%: 3 to pass a 1 Step evaluation, 2 per phase on a 2 Step.
On Instant there is no target. The account is funded the moment you buy it, with its own loss limits, listed below.
The rules a forex trader feels most
Loss limits
The Max Daily Loss is measured from the day's opening balance; the Max Loss is a static floor below the starting balance that never moves on any CFD plan. Both are hard limits: reaching either ends the account.
- Edge 1 Step: 4% daily, 7.5% max.
- Edge 2 Step: 4.5% daily, 9% max.
- Prime 1 Step: 4% daily, 8% max. Prime 2 Step: 5% daily, 10% max.
- Instant Pro: 3.5% daily, 7% max. Instant Go: 3% daily, 6% max.
The daily loss limit and sizing against the limit show how to plan a position around them.
Position size: Max. Exposure
Leverage is published per plan (1:100 on Edge 1 Step, Edge 2 Step and Prime 2 Step, 1:50 on Prime 1 Step, 1:33 on Instant Pro, 1:25 on Instant Go), but it is a ceiling. What sizes your positions in practice is Max. Exposure: the dollar value of all your open positions together, divided by the current balance. The cap falls as the account grows: 5,000% at $2.5K, 4,000% at $5K, 3,000% at $10K, 2,500% at $25K, 2,000% at $50K, 1,250% at $100K and 1,000% at $200K.
On a $50K account that is $1,000,000 of open positions. For a forex pair, the value of a position is its lots times the contract size, converted to dollars: one standard lot of EUR/USD is 100,000 euros, so its value is 100,000 times the EUR/USD rate. A first breach is a warning that resets the profit of an account in profit; a second closes the account. The Max. Exposure article works through examples, and the trading calculator computes it the way the platform does.
News
News trading is allowed on every CFD plan. Trading both ways around a high-impact release to catch the spike, known as straddling, within 15 minutes either side, is reviewed by the risk desk. Trading the news explains where the line is.
Holding
Overnight holding is allowed on every CFD plan, and positions held through the daily rollover may be charged swaps, which count toward your loss limits like any other cost. Weekend holding needs the Weekend Holding add-on. Without it, trades still open at 4:45 PM New York time on Friday are closed by the system: the first time is a warning, the second closes the account. A Swap-Free add-on removes the overnight swap and nothing else. Weekend holding and swaps covers both add-ons.
What forex trades cost
Commission is per lot, round turn, the same in the evaluation and once funded. On Edge and Instant, forex is $5, metals $6 and energies $6; indices and stocks are free; crypto is 0.06% of the trade value. On Prime, forex is $4, metals $5 and energies $6, and crypto 0.045%. The pip value, leverage and margin of every pair are on Symbols and commission, for example EUR/USD. Pip value explained and lot sizes explained cover the arithmetic.
Getting paid
On Edge and Prime the first payout is on demand once the account is funded and the plan's profitable days are done, then weekly. On Instant Pro it is after your first trade, then weekly; on Instant Go after your first trade, then every 14 days. The minimum payout on CFD accounts is 1% of the initial balance, and at most $2,000 is paid out of one account in any seven days.
Every request gets an automatic receipt confirming it has been received, and it is paid by the method on file for your account: bank transfer, local bank rails in some countries, crypto (USDT, USDC, BTC or ETH), or store credit. Identity verification must be approved before the first payout. No payout time is promised.
How to check a forex prop firm before you buy
Ask three questions of any firm, WhitePips included:
- Is every rule and price published before checkout? WhitePips prints every rule with its figure on every plan and size on Trading rules, explained, and the practices the risk desk reviews by hand on the same page.
- Is the payout process written down? The Payout Policy says how a request is made, verified and paid, and every payout paid comes with a certificate whose verification code opens on whitepips.com.
- Who runs it? WhitePips is WhitePip FX Ltd., an International Business Company registered in Saint Lucia, Registration No. 2026-00645, with its office in the Sharjah Publishing City Free Zone, UAE. It is a new firm and it is not a regulated broker; Is WhitePips legit? answers the questions people ask about that.
After identity approval you can also try one free Edge 1 Step $100K account for 14 days under the paid rules. It never funds or pays out, but it shows you the platform and the rules at work. Trading leveraged products carries a high risk of loss.