Entry price
The cost of starting with FundingPips is transparent and covers the evaluation and the funded account (except for the Zero model). In contrast, IQ Capital separates the evaluation price from an "Activation Fee" required once you pass, which significantly increases the total cost of ownership.
- 100K Account: At FundingPips, a 2-Step Pro costs $422 total. At IQ Capital, the 100K Core costs $499 for the evaluation plus a $149 activation fee, totaling $648.
- 50K Account: FundingPips offers the 2-Step Standard for $285. IQ Capital charges $195 for the evaluation plus a $129 activation fee, totaling $324.
- Lowest Entry: FundingPips allows you to start a 5K account for as little as $29. IQ Capital has a "Welcome Offer" for $9, but you must still pay the $129 activation fee to trade live.
What you pay while trading
Operating costs are similar in terms of commissions, but the leverage and platform choices create different economic efficiencies.
- Commissions: IQ Capital charges a flat $5 round trip per lot on Forex. FundingPips also charges $5 on its standard 1 and 2-step models, but this rises to $7 in the Zero model and $10 in the Prime model.
- Leverage cost: FundingPips provides higher leverage (up to 100:1 on many models), allowing you to control larger positions with less margin. IQ Capital limits Forex to 50:1, which requires more "buying power" from your account balance to maintain the same risk.
- Platform Fees: FundingPips charges a 20% premium if you choose cTrader. IQ Capital does not have a surcharge for TradingView or MT5, though it uses specialized platforms like Volumetrica for specific crypto/futures trading.
What mistakes cost you
The economic impact of a mistake is measured by how quickly you lose the account and how much it costs to try again.
- Drawdown Type: FundingPips uses static drawdown for its main models (12% max), meaning your "ruin point" stays fixed. IQ Capital uses Trailing EOD (End of Day) drawdown; the floor follows your highest closing balance. This makes IQ Capital more expensive in terms of "risk room," as you can lose the account even if you are in profit if you suffer a significant retracement from your peak.
- Resets: If you fail, FundingPips offers a 10% discount on a new account. IQ Capital has specific reset fees, such as $39 for a 50K evaluation or up to $599 to reset a funded 100K account (limited to 2 resets).
- Inactivity: FundingPips closes your account after 30 days of no trades. IQ Capital is much stricter, closing the account after only 8 days of inactivity, which could cost you your entire investment if you take a short vacation without planning.
What it costs to get paid
Getting your money out also involves costs, both in direct fees and in profit-sharing logic.
- Refunds: FundingPips provides a 100% refund of your entry fee with your first payout. IQ Capital does not offer a standard refund of the evaluation fee.
- Withdrawal Limits: FundingPips has no cap on rewards (except for specific Labs models). IQ Capital limits you to withdrawing 50% of profits per request and has specific payout caps (e.g., $3,000 per payout for the 100K Core account), which forces you to leave money in the account and increases the risk of losing those earned profits before you can withdraw them.
- Direct Fees: FundingPips charges a flat $10 payout fee. IQ Capital advertises a 48-hour processing guarantee; if they fail, they give you a 100% split for that payout.
Where each one hides its cost
- FundingPips: The biggest hidden cost is the "Swing" add-on. If you want to hold trades over the weekend on a Master account, you must pay extra at checkout. Otherwise, the firm closes your trades automatically, which could cost you potential profits or trigger spreads.
- IQ Capital: The "15-second rule" is a hidden cost for scalpers. At least half of your trades and profits must come from positions held longer than 15 seconds. If you trade faster, your profits may be voided, effectively increasing the cost of your trading style.
Cheapest for whom
FundingPips is the cheapest for beginners and swing traders who want a low entry price, a refundable fee, and a static drawdown that doesn't "hunt" their profits. It is the better choice for those who want to avoid activation fees.
IQ Capital is better for consistent, high-volume traders who can pass evaluations quickly and value a 90% profit split, provided they can work within the 8-day activity window and the 50% withdrawal limit.
Frequently asked questions
Which firm has a lower total entry cost for a 100K account, FundingPips or IQ Capital?
FundingPips is significantly cheaper. A 100K 2-Step Pro account costs $422 with no additional fees. In contrast, IQ Capital charges $499 for the 100K Core evaluation plus a $149 activation fee once passed, bringing the total cost to $648.
Does FundingPips or IQ Capital offer a better refund policy?
FundingPips has a superior refund policy, returning 100% of the initial evaluation fee with the trader's first payout. IQ Capital does not mention a standard refund of the evaluation price in its Core or Rapid models, meaning the entry price is a sunk cost.
Which is more expensive for scalping, FundingPips or IQ Capital?
IQ Capital is more restrictive and potentially costlier for scalpers due to its "15-second rule," which requires half of the profits to come from trades held longer than that duration. FundingPips allows scalping without specific time-held restrictions, though it does have a simultaneous lot limit (maximum 40 lots for accounts over 100K).
Between FundingPips and IQ Capital, which drawdown rule is more trader-friendly?
The drawdown rule at FundingPips is generally more friendly because it is static for most models, meaning the maximum loss limit never moves up. IQ Capital uses a Trailing EOD drawdown, where the loss threshold rises as your account balance increases at the end of the day, making it easier to breach the account during a winning streak followed by a correction.
