The Trading Pit - Cutting-Edge Technology & More
Are you in search of a proprietary trading firm that promises a unique and advanced trading experience? Today, we'll take a closer look at the Trading Pit, a well-regarded prop trading firm known for its cutting-edge technology and robust infrastructure.
At the Trading Pit, they stand out as a challenging prop trading firm, welcoming traders of all skill levels. Their specialization lies in Futures Trading, with future plans to extend their services to encompass Crypto and Stock Trading, adding to their versatility and catering to a broad spectrum of trading preferences.
Let's now explore what distinguishes them within the industry. We'll begin by examining their funding options, specifically Futures and CFD.
Futures Account Options
Let's begin with a discussion about the Futures accounts at the Trading Pit. For those who are just starting or prefer to have a smaller challenge account balance, the Lite account is an excellent choice.
Futures Accounts
| Account Name | Lite | Standard | Executive | VIP |
|---|---|---|---|---|
| CHALLENGE ACCOUNT BALANCE | $20,000 | $150,000 | $150,000 | $250,000 |
| Targets | Phase1 = $1,000 | Phase1 = $5,000 | Phase1 = $3,000, Phase2 = $3,000 | Phase1 = $3,000, Phase2 = $3,000 |
| Profit Split | 60% Up To 70% | 60% Up To 70% | 60% Up To 80% | 70% Up To 80% |
| Minimum Trading Days | 3 days | 3 days | 3 days per phase | 3 days per phase |
| Time Limit | 30 Days (With Extension Option) | 30 Days (With Extension Option) | 30 Days total (With Extension Option) | 60 Days total (With Extension Option) |
| Daily Starting Drawdown | $250 | - | Phase1 = $2500, Phase2 = $1000 | Phase1 = $2500, Phase2 = $1500 |
| Max Drawdown (Static) | $500 | $3000 | Phase1 = $3500,Phase2 = $3500 | Phase1 = $5000,Phase2 = $5000 |
| One Time Fee | 99$ | 169$ | 349$ | 599$ |
With an initial balance of $20,000, you can kickstart your trading journey with a one-time payment of $99. Your goal in Phase 1 is to achieve a profit of $1,000 within a 30-day challenge period, and you have the option to extend it while actively trading for a minimum of 3 days.
If you are prepared for a more substantial challenge, the Standard and Executive accounts are worth considering. The standard account, priced at $169, provides a challenge account balance of $150,000 and sets a Phase 1 profit target of $5,000 within a 30-day challenge period.
The Executive account, their most popular choice, is available for a one-time payment of $349. It offers a challenge account balance of $150,000 and provides two profit targets, each at $3,000 for every phase. Just like the other accounts, both the Standard and Executive accounts require a minimum of 3 days of active trading.
For traders who seek an extensive challenge with a longer duration, the VIP account is the ideal choice. It features a challenge account balance of $250,000 and is priced at $599. This account offers profit targets of $3,000 for each phase, spanning a total challenge duration of 60 days with the option to extend. As expected, the minimum trading requirement remains at 3 days.
One-Step CFD Challenge Account
Now, let's take a closer look at The Trading Pit's one-step CFD challenge account, which allows you to trade with 1:30 leverage. Here are the objectives for the evaluation phase:
CFDs Accounts
| Account Name | Lite | Standard | Executive | VIP |
|---|---|---|---|---|
| CHALLENGE ACCOUNT BALANCE | $10,000 | $20,000 | $50,000 | $100,000 |
| Targets | 10% | 10% | 10% | only 8% |
| Profit Split | 50% Up To 70% | 50% Up To 70% | 60% Up To 80% | 60% Up To 80% |
| Weekend Holding | Allowed | Allowed | Allowed | Allowed |
| Minimum Trading Days | 3 days | 3 days | 3 days | 3 days |
| Time Limit | 90 Days | 90 Days | 90 Days | 90 Days |
| Daily Starting Drawdown | 5% | 5% | 5% | 5% |
| Max Drawdown | 10% (Trailing) | 10% (Trailing) | 10% (Static) | 10% (Static) |
| Leverage | 1:30 | 1:30 | 1:30 | 1:30 |
| One Time Fee | 99$ | 179$ | 399$ | 999$ |
In Phase One, traders are required to achieve a profit target of 10%. However, for the 100K account size, the profit target is 8%. During this phase, traders should not exceed the 5% daily loss or 10% overall maximum loss rules. Please note that $10,000 and $20,000 account sizes have trailing drawdowns, while $50,000 and $100,000 accounts have static drawdowns. The maximum trading period for the evaluation phase is 90 calendar days, and you must meet the three minimum trading day requirement to progress to a funded account.
Upon successful completion of the one-step challenge, you'll be rewarded with a funded account. The profit target for this funded account will be 8% or 10%, depending on your account size. Remember, you must always adhere to the daily loss and overall drawdown limits. When you hit your 10% profit target, you can request your first profit split, which is 50% or 60%, depending on your account size. This will also allow you to scale your account to the next level. Subsequent payouts can be requested only when you hit your 10% profit target and will consist of a profit split ranging from 50% up to 80%, depending on your initial account size and the current level of your trading account.
The one-step challenge account also features a scaling plan, where you must achieve a profit target of 8% or 10%, depending on your initial account balance and account size. Please note that scaling ranges from $500,000 up to 5 million dollars, depending on the account size you are trading on.
As for trading instruments, you have access to Forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies. You are expected to adhere to several rules, including profit targets, maximum daily and overall loss limits, maximum trailing loss limit once funded, any minimum trading day requirements, the maximum trading period of 90 calendar days for the evaluation stage, consistency rules regarding profits made in a single trading day, and a prohibition on copy trading.
The one-step challenge account also offers upgrade options:
- Reset Option: You can reset your account at a discounted price, which opens a new account with the remaining days of the challenge.
- Extend Option: If you have three days left before the challenge ends, you can purchase an extension, which extends your trading period for an additional 90 calendar days.
The Trading Pit takes care of its traders with these options, providing flexibility and support.
What Sets The Trading Pit Apart
What sets The Trading Pit apart from other proprietary trading firms? Here's what makes them unique:
- Fast Payouts: They offer quick and efficient payout processes.
- Simple Challenge Rules: Their challenges are designed with straightforward rules, making it accessible for traders.
- Multi-Asset Trading: The Trading Pit supports trading across various asset classes.
- Top-Tier Brokers: They work with top-tier brokers to provide you with a superior trading experience.
The Trading Pit stands out with its relaxed trading rules. While they have a consistency rule for evaluations to identify consistent traders, they also aim to promote consistent trading without overly limiting your trading style. This means you can set trading pending orders during news events, hold trades overnight, and even over the weekend. Their primary focus is on fostering trading consistency.
Realistic Trading Objectives and Payouts
Is obtaining capital through The Trading Pit a realistic goal? It's important to consider the trading requirements when evaluating such opportunities. While a company offering a high percentage profit split on a well-funded account may seem appealing, it's essential to examine the trading expectations. If they demand high monthly percentage gains with minimal drawdown, your chances of success may not be as promising.
However, The Trading Pit stands out as an excellent choice for securing funding. They offer the one-step challenge accounts, all of which come with realistic trading objectives to follow, and they also provide opportunities for payouts.
For proof of payouts, I recommend visiting The Trading Pit's Discord channel, specifically the "payout proof" section. I always encourage you to engage with proprietary trading firms' Discord communities. This is where you can gain insights into the community and find a wealth of information, including payment proof and other valuable resources. I highly recommend getting involved in their Discord community for a more comprehensive understanding of the firm.
The Trading Pit's Brokerage Options
Regarding their brokerage options, The Trading Pit partners with FXflat and GBE Brokers. FXflat is a top-tier online brokerage, while GBE Brokers is a regulated CFD broker. Both firms are supported by highly skilled professional teams, and they offer the flexibility to choose between MetaTrader 4 and MetaTrader 5 for your trading needs.
As for trading instruments, it's worth noting that The Trading Pit provides a diverse range of options, allowing you to trade in Forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.
Educational Resources and Support
One crucial aspect I consider when evaluating proprietary trading firms is their commitment to trader education and support. In this regard, The Trading Pit stands among the top firms for providing an abundance of educational resources for their traders.
They offer the following educational tools:
- StereoTrader: This trading optimization software provides groundbreaking solutions for both manual and automated trading.
- SquawkBox: It delivers real-time news, analysis, and market commentary to keep traders informed.
- Economic Calendar: This global economic calendar ensures you stay updated on important market events and upcoming releases.
- CME Heatmap: This tool allows traders to monitor market positions, track changes in volume, and follow market movements based on the CME Group's open interest.
The Trading Pit also offers access to a wide range of educational content:
- eBooks
- Free live webinars featuring trading experts from around the world
- Podcasts
- Educational videos
- Infographics
- Blogs with educational articles
They are committed to ensuring that all their traders are well-educated, a fundamental aspect of any successful proprietary trading firm. This focus on education benefits both traders and the firm alike.
Community Feedback on Trustpilot
Let's turn our attention to Trustpilot to explore the comments and feedback from other traders about The Trading Pit. They've garnered a near-perfect median score of 4.9 out of 5 from a substantial number of reviews, and the overall sentiment appears overwhelmingly positive.
I encourage you to read through the comments. As someone who regularly delves into these articles, I find it valuable to consider external perspectives when evaluating proprietary trading firms. It's a great way to gain insight beyond the information provided directly by the firm.
The majority of The Trading Pit's community seems to laud them, particularly in terms of customer support and their trading objectives. However, I recommend taking the time to go through the comments and conduct your own due diligence to make an informed decision.
Summary: The Trading Pit's Appeal
In conclusion, let's sum it up concisely. The Trading Pit is undeniably a reputable proprietary trading firm. They provide traders with the opportunity to secure substantial funding while adhering to realistic trading objectives.
Therefore, The Trading Pit is an excellent option for individuals seeking a proprietary trading firm with straightforward and relaxed trading rules, complemented by robust educational support. Their one-step challenge program offers favorable conditions for a diverse range of traders, whether you are a beginner or an advanced trader.
All things considered, The Trading Pit emerges as a highly appealing choice in the proprietary trading firm industry.