Prop trading firm PipFarm has introduced multi-currency accounts, allowing traders to fund and trade challenges in USD, EUR, or GBP without facing conversion fees or FX uncertainty. The firm confirmed that Japanese yen (JPY) accounts will be added soon, supporting its broader expansion into global markets.
PipFarm rolls out multi-currency accounts for global traders
PipFarm has officially launched multi-currency account support, enabling traders to purchase and trade evaluations directly in USD, EUR, or GBP. This update aims to eliminate FX conversion costs, reduce confusion around exchange rates, and streamline onboarding for international users. Under the new model, pricing is fully localized:
$490 → $100,000 challenge (USD)
€490 → €100,000 challenge (EUR)
£490 → £100,000 challenge (GBP)
The firm also announced that JPY accounts will be introduced soon, aligning with its strategy to support regional traders and increase accessibility across Asia.
Reducing FX risk and enhancing transparency
PipFarm said the update marks a major step toward localization, an increasingly important requirement as the prop trading industry expands beyond Europe and North America.
“By allowing traders to operate fully in their native currency, PipFarm reduces FX risk, offers a more predictable pricing model, and builds smoother onboarding pathways for new traders,” the company stated.
Currency conversion has long been one of the major friction points for global traders, often resulting in additional cost and inaccurate financial planning. With multi-currency accounts, PipFarm aims to eliminate unnecessary fees, improve transparency, and improve the user experience across diverse regions.
Prop trading grows beyond Western markets
Speaking at iFX EXPO International 2024, James Glyde, PipFarm’s Founder and CEO, noted that the prop trading sector is rapidly expanding into emerging markets, where localized features such as multi-currency accounts are becoming essential. However, he emphasized that risk management remains a major challenge for prop firms:
“The risk in the prop trading industry is incredibly hard to manage,” Glyde said. “The challenge arises because it’s assumed the traders will lose, which makes risk management particularly tricky in this space.”
He added that although prop trading originated from the CFD (Contracts for Differences) industry, the mechanics of the two sectors differ significantly:
“In the CFD industry, we have a ton of data showing that most traders will lose in the long run. But in the prop trading industry, it’s like a micro-trading session.”
PipFarm delisted from Prop Firm Match amid rising industry tensions
Earlier this month, PipFarm was delisted from Prop Firm Match, a platform known for ranking and rating prop trading businesses. The removal reportedly followed disagreements about transparency and review criteria. Prop Firm Match said the delisting came “after an extensive review process,” while Glyde countered that the platform’s final request “went far beyond what is reasonable.” Despite the controversy, PipFarm emphasized that its focus remains on product development and global expansion, with multi-currency support being a key part of its long-term roadmap.
Conclusion
By introducing USD, EUR, and GBP accounts and preparing to roll out JPY, PipFarm positions itself among the few prop firms prioritizing currency localization, lower financial friction, and improved accessibility for traders worldwide. As the prop trading industry continues moving into new markets, multi-currency support is likely to become a standard requirement for firms seeking global relevance and long-term competitiveness.
