The Trading Pit Review (2024)

Historically, a trading pit has been the epicenter of financial markets, embodying the raw energy and frenetic activity of live trading. In the contemporary financial landscape, “The Trading Pit” has become one of the best futures prop trading firms. This comprehensive The Trading Pit review delves into its offerings, structure, and support to help you ascertain whether it could be your ally in the financial arena or an adversary to your trading goals.

Understanding The Trading Pit

The Trading Pit is a proprietary trading firm established in 2022. It rigorously assesses prospective traders using demo capital to determine their ability to handle significant trading volumes. Successful candidates who clear this evaluative phase are rewarded with actual capital to trade futures and Contracts for Difference (CFDs).

Those aiming to secure funding from The Trading Pit must participate in and pass its challenges. These challenges are designed to discern the trading proficiency of individuals in a simulated environment, closely mirroring real-market conditions. The Trading Pit has organized these challenges into two categories, reflecting the two primary asset classes within its scope: CFDs and futures.

  • CFD Challenges: The CFD Challenge is a single-phase test where participants aim to achieve a profit target ranging from 8% to 10% of the provided demo capital to qualify for real capital funding. Traders engaging in CFD Challenges through The Trading Pit are tasked with trading various instruments, including stock CFDs, cryptocurrency CFDs, commodities, indices, and forex. These challenges are conducted on the FXFlat and GBE brokerage platforms and must be completed within 90 days.
  • Futures Challenges: These challenges are run in simulated environments mirrored after renowned futures markets such as CME, EUREX, and COMEX. Traders strive to reach set profit targets within 30 or 60 days, depending on the specific challenge they enter. For those needing more time, the duration of the challenge can be extended to 60 or 90 days, respectively, for an additional fee. Unlike the CFD Challenges, Futures Challenges consist of two phases. The first phase has more stringent success criteria than the second, requiring traders to exhibit a higher level of skill and discipline to advance and ultimately secure funding.

Features of The Trading Pit

  • High Profit Share: At The Trading Pit, traders are paid 50% to 80% of their profits. The high volume of capital that The Trading Pit provides ensures that even the lower end of this profit share range can result in considerable earnings.
  • Opportunities to Scale: The platform recognizes and rewards growth. With sustained success and effort, traders can access as much as $5 million in capital.
  • Profit Calculator: Prospective traders can use the profit calculator on The Trading Pit’s official website to estimate potential earnings. This tool aids in selecting the most suitable evaluation program in alignment with individual profit objectives, offering clarity and strategic insight before beginning the evaluation process.

Pros and Cons of The Trading Pit

Pros

  • Refundable Challenge Fee: Completing The Trading Pit’s challenge grants access to the Scaling Plan, where you can trade with actual capital. Upon entering this plan, your initial challenge participation fee is fully refunded.
  • Choice of Brokers: You can select your preferred trading environment during the challenge sign-up process, tailoring your trading experience to suit your comfort and strategy.
  • Employment: Achieving level 10 within The Trading Pit’s Scaling Plan opens the door to employment opportunities with The Trading Pit’s asset management partners. This allows top-tier traders to further their careers within professional trading environments.
  • Cryptocurrency Trades: As one of the best crypto prop trading firms, The Trading Pit provides an avenue for cryptocurrency enthusiasts to get as much capital as they need to trade cryptocurrency futures and CFDs.
  • Spotlight: The Trading Pit fosters a competitive and motivational atmosphere by featuring the week’s top trader on their official website, visible to members and the public. This recognition encourages a culture of excellence and continuous improvement among traders.
  • Flexible Trading Strategies: The Trading Pit permits a range of trading strategies to accommodate various trading styles. When trading futures, you can hedge, which means taking an offsetting position to mitigate risk, and scalp, which involves making numerous trades for small profit gains. For both futures and CFDs trading, there is a provision for copy-trading to a certain degree.

Con

  • Live Account Usage Fee: During the challenge, The Trading Pit gives you free licenses to access broker platforms. However, once you’ve cleared the challenge and begin trading with real capital, you must pay monthly fees directly to those platforms to continue using them.

The Trading Pit vs. TakeProfitTrader

TakeProfitTrader and The Trading Pit are both proprietary trading firms that provide capital to traders, but they differ in a few key areas:

  • Maximum Account Size: The Trading Pit offers up to $5 million, suitable for those aiming to trade with large capital. TakeProfitTrader’s maximum is $150,000, which might appeal to those who prefer smaller-scale trading.
  • Number of Trading Platforms: TakeProfitTrader has a wide selection with over 30 trading platforms, while The Trading Pit offers fewer than 10, focusing on the quality of optimal trading experiences.
  • Assets Traded: The Trading Pit provides the opportunity to trade both futures and CFDs, giving traders more variety. TakeProfitTrader specializes in futures only.
  • Withdrawal Fees: When it comes to taking out your profits, The Trading Pit allows you to do so without any fees. TakeProfitTrader, on the other hand, imposes a $50 charge for withdrawals under $250.

Is The Trading Pit Worth It?

Investing in The Trading Pit is a smart move for your time, money, and effort. If you don’t pass the challenge in 30 days, you can pay a small fee to extend your challenge and get more time to succeed, or reset your evaluation account and start over. Either way, The Trading Pit allows you to keep pursuing your trading goals.

The Trading Pit Reviews Online

Almost every The Trading Pit review online is overwhelmingly positive. For example, on Trustpilot, The Trading Pit is rated 4.7 stars out of 5. Participants in the challenge are encouraged to complete it and those who’ve passed the challenge are pleased with their payouts and progress.

A trader in the former group shared, “I give them MAXIMUM STARS! And that’s because, until now, I’m extremely satisfied, these people are extremely responsive and will come with an option to help you, and even don’t hesitate to remind you that they’re here to help you. From the point of view of the evaluation models, they are the most profitable, and the most professional, compared to other companies, which are only interested in the money you would pay for the evaluation or reset.”

Meanwhile, a trader in the latter group said, “Everything worked perfectly, good customer service, fast uncomplicated payment.”

The Trading Pit Review: Final Verdict

Following a thorough appraisal of beneficial features in this The Trading Pit review, it’s safe to conclude that the platform suits traders seeking growth opportunities. Click here to join The Trading Pit.

The Trading Pit Review (2024)

FAQs

Is the trading pit regulated? ›

We have brought on board experts in capital markets law to ensure that The Trading Pit and its business models are lawfully and regulatory compliant! No objections were raised to our partnership models with prop traders and created with transparency for actual mutual growth!

How does the trading pit work? ›

The pit is an area of a stock exchange reserved for traders buying and selling securities. Brokers in the pit buy and sell securities using the open outcry system, which combines vocal cues and hand signals. Electronic trading platforms have entirely replaced trading pits at most exchanges.

What country is the trading pit in? ›

Where are you located? Our headquarters are located in Liechtenstein. We also have offices in Spain and Cyprus along with team members helping expand our business in countries such as Brazil, Portugal, Italy, Germany, Vietnam, Malaysia, Russia, Poland, China and MENA region.

Is trading com legitimate? ›

Trust and Safety

In the intricate world of financial trading, the sanctity of trust and security remains paramount. In this context, Trading.com portrays itself as a bastion of reliability, ensuring its adherence to rigorous standards and offering substantial measures to secure client funds.

What countries is the trading pit banned in? ›

Mainly due to payment complications, The Trading Pit is unable provide any type of service to clients with residency from the following countries: Burundi, Cuba, Iran, North Korea, South Sudan, Sudan and Syrian Arab Republic. Additionally, there are some limitations as to the Market Data providers restrictions.

Who is the founder of the trading pit? ›

The Trading Pit remains under the steadfast leadership of founder Illimar Mattus and Group CEO Daniela Egli, whose vast experiences and strategic foresight drive our success and stability.

What is the 1 rule in trading? ›

Enter the 1% rule, a risk management strategy that acts as a safety net, safeguarding your capital and fostering a disciplined approach to navigate the market's turbulent waters. In essence, the 1% rule dictates that you never risk more than 1% of your trading capital on a single trade.

Which prop firm has no time limit? ›

Direct Funded Trader (DFT) is a prop firm providing funded trading accounts across forex, futures, stocks, and crypto markets. They offer a lifetime profit split model with no time limits on their highest account tiers. DFT launched in 2020 and currently works with over 1,800 funded traders.

Do you actually get money from trading? ›

Yes, you can make money successfully through trading but it takes years of backtesting,reading charts,following your plan,being disciplined and gaining deep understanding of the markets then only you will be able to make money consistently through trading .

Do trading pits still exist? ›

Key Takeaways. Few exchanges now have pit trading, moving from hand signals and verbal communication to automated systems. Floor trading allows for showmanship and to simplify large, complicated orders.

How to get prop firm account for free? ›

One way to start prop trading without paying a dime is to enter trading contests, where you can compete with other traders and show your skills. These are great opportunities to test your trading strategies, get feedback, and win prizes. Monitor or research different prop firms to see who offers this opportunity.

What is the history of the trading pit? ›

Trading pits were essentially a physical location where traders came together to buy and sell commodities. The pits were divided into different sections, with each section trading a specific commodity. Traders would stand in the pit and shout orders to each other, using hand signals to communicate their intent.

Are there fake trading websites? ›

Many investment scams rely on sophisticated fraudulent investment websites that operate a fake trading platform to trick victims into depositing money after being lured in through email, social media posts or fake ads.

What is the most trustworthy trading app? ›

  • Angel One App. ...
  • Upstox Pro Trading app. ...
  • Groww App. ...
  • 5paisa App. ...
  • ICICI Direct App. ...
  • Edelweiss App. ...
  • FYERS App. FYERS is one of the best trading platforms in India. ...
  • AliceBlue App. The AliceBlue Trading application has one of the lowest brokerage charges in the share market industry.

What is the best trading company for beginners? ›

Best Trading Platforms for Beginners
  • Fidelity - Best overall for beginners.
  • Merrill Edge - Best research for beginners.
  • E*TRADE - Best trading app for beginners.
  • Charles Schwab - Outstanding market research.
  • Interactive Brokers - Best for global investors.
  • Robinhood - Best for Ease of Use.
Mar 25, 2024

How is trade regulated in the United States? ›

Trade Regulation: an overview

The U.S. Constitution, through the Commerce Clause, gives Congress exclusive power over trade activities between the states and with foreign countries. Trade within a state is regulated exclusively by the states themselves.

Is TradeStation regulated in the US? ›

TradeStation is subject to stringent U.S. industry regulations and account-protection requirements and has continuous reporting requirements that are subject to regulatory review and regular audits. These regulatory requirements include reserve and segregation requirements for your equities and futures accounts.

Is forex trading regulated in the US? ›

Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA). This ensures compliance with strict financial standards and offers protection to traders.

Who regulates futures trading in the US? ›

The Commodity Futures Trading Commission is an independent U.S. government agency that regulates the U.S. derivatives markets, including futures, options, and swaps.

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