The Trading Pit Review (20% Discount: PROPFIRMTRADING) - Prop Firm Trading (2024)

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The Trading Pit is a proprietary firm with its headquarters situated in Lichtenstein and offices located in Cyprus, Spain, and Canada. Additionally, their presence extends through representatives in Germany, Italy, Egypt, China, and Vietnam. The firm provides aspiring traders with the opportunity to manage accounts ranging up to €100,000, offering a scalable plan reaching up to €5,000,000 and a profit split ranging from 50% to 80%. The Trading Pit has seamlessly integrated its technology with two brokers, FXFlat and GBE Brokers, with plans to expand this list rapidly.

Operating under the official name The Trading Pit Challenge GmbH, the company is a registered entity with the registration number FL-0002.693.417-1.

Having commenced operations in May 2021, The Trading Pit Challenge GmbH has quickly established its presence in the trading arena.

Thomas Heyden, the CEO of The Trading Pit, is a finance, insurance, and capital market theory graduate from Johann-Wolfgang-Goethe University, with successful completion of his studies. Holding certification as a financial analyst, Thomas has garnered experience working with German banks and international investment houses.

As an accomplished professional, Thomas has not only launched but also managed multiple investment funds under his regulated company. His excellence in fund management earned him the prestigious German Fund Award in 2009.

Beyond his roles in fund management and trading, Thomas has played a crucial part in hedging commodity price risks for major German companies and Europe’s largest public transport firms. His expertise in commodity prices and foreign exchange risks makes him a sought-after speaker for medium-sized businesses in Germany.

The Trading Pit offers its customers One-Step Challenge Program with 4 type of Accounts to choose from.

The one-step CFD challenge account at The Trading Pit aims to find skilled and consistent traders. It offers a 1:30 leverage for trading.

In the evaluation phase, traders target a 10% profit, except for €100k accounts aiming for 8%. There are rules to follow, like not exceeding a 5% daily loss or 10% maximum loss. Note, €10,000 and €20,000 accounts have trailing drawdown, while €50,000 and €100,000 have static drawdown. You get 90 days to finish the evaluation, and a minimum of three trading days is required.

Completing the challenge earns you a funded account with an 8% or 10% profit target, depending on your account size. Adhering to a 5% daily loss limit, your maximum drawdown is now a 10% maximum trailing loss rule. Achieving a 10% profit lets you request a 50% or 60% profit split, allowing you to scale up. Subsequent payouts require hitting the next 10% profit target, offering a profit split of 50% to 80%, based on your account size and trading level.

You can see the different Accounts features:

Scaling is also part of the account plan in the one-step challenge. To scale, you need to hit an 8% or 10% profit target, which varies with your initial account balance and account size. Keep in mind that scaling extends from €500,000 to €5,000,000, depending on the size of the account you’re trading on.

The scaling plan for One-step challenge accounts is outlined below:

– Profit target is the percentage you need to make before finishing an evaluation, withdrawing profits, or growing your account. In the one-step challenge, it’s either 10% or 8%, depending on your account size. Funded accounts have an 8% or 10% profit target to withdraw and scale, based on your initial account size.

– Maximum daily loss is the most you can lose in a day before your account is in trouble – it’s 5% for all account sizes. Maximum loss is 10%, but only during the evaluation phase.

– Maximum trailing drawdown is the biggest drop from your highest account balance. Once funded, all account sizes share a 10% maximum trailing drawdown. Note that $10,000 and $20,000 accounts also have a drawdown limit during evaluation.

– Minimum trading days mean you have to trade for at least 3 days before finishing an evaluation or requesting a withdrawal.

– Maximum trading days set the time limit to hit a profit or withdrawal target – it’s a max of 90 trading days during the evaluation.

– “No News Trading” means no trading during big news releases. “No copy trading allowed” means you can’t use any copy trading services.

Established in February 2022, The Trading Pit is a proprietary trading firm that allows traders to request withdrawals upon reaching funded status and hitting their initial 8% or 10% profit target. This achievement not only enables a payout but also facilitates account scaling. Importantly, there are no time restrictions on profit targets once a trader becomes funded. Traders are eligible for profit splits ranging from 50% to 80%, depending on their funded account size and the level of scaling achieved.

Check out the example of payment proof below:

Note: This payout is not ours.

In conclusion, The Trading Pit stands out as a legitimate proprietary trading firm that provides traders with the flexibility to opt for various-sized one-step challenge accounts.

The one-step challenge account represents a single-phase evaluation process, requiring successful completion before transitioning to funded status and gaining eligibility for profit splits. Traders need to achieve profit targets of 10% or 8% in the evaluation phase, dependent on their initial account size, before moving to the funded stage. These objectives are reasonable, given the 5% maximum daily drawdown and 10% maximum loss rules in both evaluation phases. It’s important to note that during the evaluation period, €10,000 and €20,000 account sizes feature trailing drawdown, while €50,000 and €100,000 accounts have static drawdown. Once funded, however, all account sizes adopt a trailing maximum drawdown. The one-step challenge account offers the opportunity to earn profit splits ranging from 60% to 80%, along with the ability to scale your accounts.

For those seeking a proprietary trading firm with straightforward rules, I highly recommend considering The Trading Pit. Their one-step challenge program provides favorable conditions for a diverse range of individuals with unique trading styles. After weighing the offerings of The Trading Pit, it is undoubtedly an appealing choice in the proprietary trading firm industry.

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