Terms of Service
1. Who we are. Pips For Bills (pipsforbills.com.ng) provides simulated evaluation challenges and simulated funded trading accounts denominated in Nigerian Naira, traded on synthetic indices priced from Deriv. By creating an account or paying for a challenge you accept these terms.
2. Challenges. Fees are one-time and non-refundable once the account is issued. Rules: no daily loss limit, 10% trailing maximum drawdown measured on equity (the floor starts at 90% of the initial account balance, rises as equity reaches new highs, and locks permanently at the starting balance once equity is up +10%). Open losing trades count toward equity drawdown. 10% Phase 1 target, 8% Phase 2 target, minimum 3 qualifying trading days in Phase 1 and again in Phase 2 (a day qualifies when net closed profit on that calendar day in WAT / Africa/Lagos reaches at least 0.5% of the account size; lot size and number of trades do not matter).
3. Funded accounts & payouts. Funded accounts are simulated and each account has its own cyclical cap. Every payout requires four conditions: (1) reach at least 10% of account-size closed profit (claim as soon as you reach 10%, as profit above 10% is forfeited at claim time); (2) complete a fresh 7-calendar-day payout cycle; (3) record at least 3 qualifying days in that cycle with at least 0.5% of account-size closed profit each (WAT); and (4) have no open positions. Your profit, up to 10% of account size, is split 70% to you and we keep 30% (on Pay From Profit accounts, the first-payout deduction of 5% of account size is removed from the 10% cap on the first payout only before your 70% split applies). Claim moves your share into your Rewards balance, resets the funded account to its starting balance, and starts a fresh 7-day cycle on the same login. Withdraw sends your Rewards balance to your Nigerian bank, USDT (BEP20) or Deriv USD and is reviewed by Finance. Giveaway accounts (free accounts won in promotions) can be claimed once per Giveaway account. Multiple eligible accounts may be linked through the built-in Copy Trader (1 Master + up to 6 Slaves); each account checks its own lot limits, drawdown floor, payout cycle and 10% cap independently.
4. Breach & resets. Breaching a rule closes the account with the triggering tick, price and time recorded on your dashboard. Phase 1 and Phase 2 accounts (Evaluation and Giveaway) can be reset for a fee if resets are enabled for that account size and you have not used your per-account reset limit (Phase 1 is capped at 1 reset per account). Funded Pay From Profit accounts can also be reset once for a fee if breached during the first payout cycle before any payout is claimed; the 5% first-payout deduction still applies once on the first payout. Funded 2-Step accounts and funded accounts after their first payout cannot be reset.
5. Conduct. One person per account; no account sharing; no exploiting price-feed errors or latency; no external copy trading into or out of our accounts. Violations may forfeit accounts and pending payouts.
6. Minimum hold time & Toxic System Abuse. Closing a trade less than 120 seconds (2:00) after opening it counts as one strike, whatever the profit or loss; a trade held for 2:00 or longer does not count. Three strikes in a phase breach the account (practice accounts are exempt). High-Frequency Trading (HFT), latency arbitrage, or trade execution relying on platform delay is prohibited. Separately, when 50% or more of an account's positive post-deployment closed profit comes from trades held under one minute, the system raises a Toxic System Abuse flag for staff review only, not an automatic breach.