The Trading Pit is a prop firm designed to help traders of all levels navigate the global markets.
The Trading Pit Review
Are you looking to partner with a prop firm that provides its traders with the necessary knowledge and tools to succeed in the financial markets? Look no further than The Trading Pit, where traders have the potential to earn up to 80% of the profits. Read on to learn more about our comprehensive review of this dynamic prop trading firm.
About The Trading Pit
The Trading Pit is a prop firm designed to help traders of all levels navigate the global markets. With a focus on providing cutting-edge technology and a robust infrastructure, the platform offers its traders a unique proprietary trading experience.
The company’s vision is to create a financial industry where companies and traders can work together for mutual benefit. Their mission is to build a community of successful traders around the world.
To achieve these goals, The Trading Pit offers a range of resources to its traders, including exceptional trading conditions, live webinars, a live squawk box, resource tools, direct market access, exclusive events with professional traders, and an unrivalled affiliate program. All these resources are meant to equip traders with the knowledge and tools they need to have a successful journey in the financial markets.
Funding Program Options
The Trading Pit provides 3 currently available products, futures, forex, and combo, while cryptos and stocks are still coming soon. Their Combo account is a new offering. It is a combo of futures and forex where you can trade 700+ Forex CFDs & real futures in one account.
Futures
The Trading Pit offers 4 accounts: Lite, Standard, Executive, and VIP. Each type of account has a challenge duration of 30 days.
The Lite 1 phase challenge account has a balance of $10,000 with a profit target of 10% and a profit share of 50%.
The Standard 1 phase challenge account has a balance of $60,000 with a profit target of 12.5% and a profit split of 60%.
The Executive 2 phase challenge account, their most popular account, has a balance of $150,000, with a profit target of 2% for phase 1 and phase 2 and a 60% profit split.
The VIP 2 phase challenge also has a balance of $150,000, with the same 2% profit target as the Executive. The only difference is the profit split, which is at 70%.
Forex
The Trading Pit offers 4 types of accounts: The Lite, Standard, Executive, and VIP.
The Lite 1 phase challenge account has a balance of $2,500, with a profit target of 10% and a 50% profit split that can go up to 70%. It is similar to the Standard, but the Standard account has a balance of $5,000.
The Executive 2 phase challenge account has a balance of $10,000, with a profit target of 6% for phase 1 and 4% for phase 2. The profit share starts at 60% but can go up to 80%.
Lastly is the VIP 1 phase challenge account, which has a balance of $20,000 and a profit target of 10%. The profit share is also 60% and can increase to 80%.
Combo
The Lite account is a 1 phase challenge account with a balance of $2,500, a profit target of $250, and profit split of 50% that can go as high as 70%.
The Executive account is a 2 phase challenge account with a balance of $10,000. The profit target is $600 for phase 1 and $400 for phase 2. Profit split starts at 60% and can go as high as 80%.
Fees
Futures
To participate in the evaluation stage before receiving funding from The Trading Pit, you must first pay a one-time fee. For futures, the Lite account is subject to a fee of $99, the Standard account is $169, the Executive is $349, and the Expert account is $499.
Forex
For forex, the Lite account is subject to a fee of $99, the Standard account is $179, the Executive is $399, and the VIP is $999. The Trading Pit is a prop firm that prides itself on transparency; as such, there are no hidden fees for its services.
They do not charge any additional fees for payments or withdrawals. However, it is essential to note that intermediary banks may set their fees for these transactions. These fees are beyond the control of The Trading Pit.
Additionally, there is no monthly subscription fee for any of their Forex accounts. Instead, users will be charged a one-time fee upon purchase of a Challenge. Overall, The Trading Pit‘s fee structure is simple, straightforward, and upfront.
Combo
The best thing about the Combo account is that you can trade Forex and Futures in 1 account. You can choose between 2 challenge accounts, the Lite and Executive. The Lite account is a 1 phase challenge account that costs $269 for a $2,500 balance. The profit split starts at 50% but can go up to 70%.
The Executive account is a 2 phase challenge account and their most popular Combo account. It costs $999 for a $10,000 balance with a profit split starting at 60% and up to 80%.
Tradable Assets
The Trading Pit offers a variety of instruments, and each has its commission fee.
| Category | Products |
|---|---|
| Currency | CME Australian DollarCME British PoundCME Canadian Dollar CME Euro FX CME Japanese Yen CME U.S. Dollar Index |
| Commodity | COMEX CopperCBOT CornNYMEX Crude Oil NYMEX E-mini Crude Oil COMEX E-mini Gold CME Feeder Cattle COMEX Gold NYMEX Heating Oil CME Lean Hog CME Live Cattle CME Natural Gas NYMEX Palladium NYMEX Platinum NYMEX RBOB Gasoline CBOT Rough Rice CME Silver CBOT Soybean Oil CBOT Soybeans CBOT Wheat CBOT Mini-Sized Wheat NYMEX WTI Crude Oil CBOT Yellow-Shelled Corn CBOT Yellow-Shelled Soybeans |
| Stock Market | CBOT E-mini Dow JonesCME E-mini NASDAQ 100CME E-mini Russell 2000 CME E-mini S&P 500 CME E-mini S&P MidCap 400 CME Mini Dow Jones Industrial Average CBOT Mini S&P 500 |
| Interest Rate | CBOT Micro 10-Year YieldCBOT Treasury BondsCBOT Treasury Notes |
Restrictions
There are not many restrictions in The Trading Pit; as long as you conduct regular trading and do not perform any exploits, everything will be fine. The Trading Pit allows hedging, scalping, copy trading, and the use of Expert Advisors.
If you have not been active for two weeks in the live phase, The Trading Pit team will contact you to check. However, if you have informed The Trading Pit team that you will be on a holiday break, they will not contact you during that time. If they cannot reach you after multiple attempts and you have been inactive for a month, your account will be disabled.
Challenge
Futures
Before getting funding, you must go through some challenges first to become a funded trader in The Trading Pit. For the future challenge in the Lite account, you receive 5 Micro contracts, a profit target of $1,000 (1 Phase), and a daily drawdown of $100. The maximum trailing drawdown for the Micro account is $500 (Closed Trades).
For the Standard account, you have 30 Micro or 3 Standard contracts with a profit target of $7,500 and a max trailing drawdown of $2,500 (open trades).
The Executive account consists of 2 Phases, with a profit target of $3,000 for phase 1 and $3,000 for phase 2. The contract for phases 1 and 2 is 50 micros or 5 standards. The daily drawdown is $2,500 for phase 1 and $1,000 for phase 2.
For the VIP account, you have 50 Micro or 5 Standard contracts with a profit target of $3,000 for phase 1 and phase 2. Like the Executive account, the daily drawdown of VIP is $2,500 for phase 1 and $1,000 for phase 2. The difference is in the maximum trailing drawdown, which is $5,000 per phase (Closed Trades), while the Executive is only $3,500. The minimum trading days are also much shorter at 7 days compared to the other accounts.
Forex
The forex challenge in the Lite, Standard, and VIP accounts consists of only 1 Phase. The phase 1 profit target for the Lite account is $250, and the daily drawdown is $75. The maximum trailing drawdown for this account is $250 (Open Trades). For the Standard account, the profit target, daily drawdown and trailing drawdown are double that of the Lite account.
In the Executive account, the profit target are $600 for phase 1 and $400 for phase 2. and the daily drawdown is €100. The maximum trailing drawdown is the same as phase 1.
The VIP account consists of 1 phase with a profit target of $2,000. The daily drawdown in this account is $600 with a maximum trailing drawdown of $2,000 (Closed Trades). This account uses a whopping 1:200 leverage. You don’t see a lot of prop firms offering this high leverage.
Combo
The Lite account is a 1 phase challenge account with a profit target of $250, a daily drawdown of $75 (open trades) and a trailing drawdown of $250 (open trades).
The Executive account is a 2 phase challenge account. The profit target is set at $600 for phase 1 and $400 for phase 2. For phase 1, there is a daily drawdown of $300 (open trades) and a trailing drawdown of $800 (open trades). Phase 2 has a daily drawdown of $200 and a trailing drawdown of $600.
Both accounts have leverage of 1:30 and 90 days challenge duration. The Lite and Executive accounts may be suitable for different types of traders, depending on their experience, capital, and risk tolerance. The challenge-based structure of these accounts can help traders stay disciplined and focused on achieving their goals.
Trading Platform
They are probably the only prop firms that offer 9 different platforms for you to choose from. Some of the choices available are:
MetaTrader 4 is an advanced platform offering chart trading and interactive charts with 23 analytical objects, along with the ability to use EAs and robots for automated trading.
MetaTrader 5 offers copy-trading, enabling users to replicate the trades of successful traders, a multi-chart mode and virtual hosting, and access to over 1000 free indicators and signals, making it an excellent choice for traders looking for advanced features and functionality.
ATAS is a powerful trading platform aggregating and filtering market transactions and processing order flow data. It visualizes it intuitively while providing analytical tools that enable traders to gain better insights into market trends, making it an ideal choice for traders seeking an edge in the market.
Rithmic is a top-tier trading platform that offers exceptional risk management through its R| Trader feature while providing extremely low latency, making it ideal for high-frequency trading. In addition, Rithmic enables users to stream data into a spreadsheet, providing greater flexibility and customization for traders seeking an edge in the market.
Quantower is a feature-rich trading platform that offers traders an individual workspace, multi-asset trading via a single platform, and an Open API + VisualStudio connect, providing users with the flexibility to tailor the platform to their needs and develop their own trading tools and strategies, making it an ideal choice for traders seeking advanced functionality and customization.
Bookmap is an innovative trading platform that enables traders to recognize imbalances between aggressive buyers and sellers in real time and discover the spread for an asset at any given time, providing users with greater transparency and insight into market dynamics. Additionally, Bookmap’s intuitive interface allows users to switch between instruments with one click, making it an ideal choice for traders seeking a user-friendly and advanced platform for their trading needs.
In Conclusion
The Trading Pit is an outstanding proprietary trading firm for individuals interested in trading forex and futures. As one of the few futures prop firms available, they can be considered among the best in this niche. Moreover, traders can also choose to trade forex or a combination of both forex and futures.
In its latest round of growth funding, The Trading Pit (TTP) has successfully secured €10 million, a noteworthy achievement that TTP takes pride in. When trading with The Trading Pit, you can be confident that you are dealing with a reputable and trustworthy prop firm, which has the potential to be one of the best in the industry in the future.
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