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Written By
G. Dautovic
Updated
July 26, 2023
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The Trading Pit is an online forex and futures trading service that specializes in multi-asset prop trading. They distinguish themselves from other platforms by placing a strong emphasis on empowering traders who work with them, providing them with tools and capital to achieve financial independence.
The Trading Pit's vision is to create a world of finance where all traders and companies work for mutual benefit in an environment of full transparency and no conflict of interest. This ethos is reflected in their promise of neutrality and ethical operations, creating a trustworthy and balanced platform.
In our review of The Trading Pit, we will examine their deposit and withdrawal limits, trading options, security measures, customer support, and their scaling plan.
The Trading Pit Review
Fortunly Rating
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$99 subscription fee
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Fortunly Rating
Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.
Minimum subscription fee:
$99
Trading platforms:
ATAS, Rithmic, Quantower, Bookmap, MT4, and MT5
Profit share:
Up to 80%
Trading tools:
StereoTrader, Economic Calendar, CME Heatmap, Squawkbox
Monthly fees:
No
Maximum payout withdrawable:
$320,000
Strengths
- High-profit share for level 10 traders
- No deposit needed
- Progressive scaling Challenge plans
- Free platform licenses for futures trading
- 8% profit target
- In-depth educational resources
- Exceptional customer support
- Risk-free participation
- Efficient, low latency trading
- Extensive variety of trading instruments
Weaknesses
- Withdrawals can only be made through bank transfers
What Is The Trading Pit?
On the surface, The Trading Pit appears to be like any other prop firm. They provide access to a wide variety of CFDs and futures trading through four trading platforms and tools. However, they differentiate themselves from the competition by offering users a comprehensive knowledge base that can assist them in becoming successful traders.
Their mission is to establish a fully transparent environment for their subscribers by utilizing the finance industry's most powerful trading tools and platforms.
How Does The Trading Pit Work?
Unlike other financial instrument trading services, The Trading Pit does not require any initial deposit. Instead, users purchase The Trading Pit Challenge in which they have to demonstrate their trading skills. Once they successfully pass the selected Challenge, traders are provided with the company's funds (the amount depends on the Challenge) for trading.
Although The Trading Pit does not offer official training, they have a comprehensive Education Tools section that includes webinars, ebooks, podcasts, and a glossary, as well as manuals for trading tools.
The Trading Pit Sign Up
The sign-up process is divided into three steps:
- Create an account by entering your name, phone number, email, and country of residence.
- Pick your challenge. Make sure to check all ins and outs by clicking on the Challenge Overview on the homepage. Also, here you will select your desired assets, preferred trading technology, and broker. The Trading Pit offers a wide variety of payment options, including Apple Pay, Google Pay, eWallet, Binance, crypto payment and credit/debit card.
- The final step is KYC verification. You will be asked to provide KYC documents before completing a payout or after passing your challenge and moving to a Scaling Plan.
The Trading Pit CFD Challenges
The Trading Pit offers four CFD Challenge plans for futures traders, depending on the profit targets they need to achieve. All four plans include an evaluation phase, require a one-time payment, have a total challenge duration of 90 days, and a minimum trading activity of at least 3 trading days.
Plan/Specifications
Lite
Standard
Executive
VIP
Plan/Specifications
Price
Lite
$99
Standard
Executive
$399
VIP
$999
Plan/Specifications
Profit Target
Lite
$1,000 (10%)
Standard
$2,000 (10%)
Executive
$5,000 (10%)
VIP
$8,000 (8%)
Plan/Specifications
Daily Drawdown
Lite
$500 (5%)
Standard
$1,000 (5%)
Executive
$2,500 (5%)
VIP
$5,000 (5%)
Plan/Specifications
Max Drawdown (Trailing on Closed)
Lite
$1,000 (10%)
Standard
$2,000 (10%)
Executive
$5,000 (10%)
VIP
$10,000 (10%)
Plan/Specifications
Leverage up to
Lite
1:30
Standard
1:30
Executive
1:30
VIP
1:30
Plan/Specifications
Profit Share
Lite
50% Up To 70%
Standard
50% Up To 70%
Executive
60% Up To 80%
VIP
60% Up To 80%
Plan/Specifications
Total Payout
Lite
$109,000
Standard
$139,950
Executive
$244,800
VIP
$562,400
Plan/Specifications
Platforms
Lite
FXFlat (MT4, MT5)
Standard
FXFlat (MT4, MT5)
Executive
FXFlat (MT4, MT5)
VIP
FXFlat (MT4, MT5)
The Trading Pit Futures Challenges
Similarly, there are also four types of Futures Challenges available for subscription, each requiring a one-time payment. The total challenge duration for all of them is 30 days, except for the VIP account, which offers 60 days. The challenge durations can be extended. The minimum trading days limit is 3 days for Lite and Standard accounts, and 3 days per phase for the VIP and Executive accounts. The Lite account is suitable for beginners and supports only CME, while the Standard account allows the use of CME, EUREX, CBOT, COMEX, and NYMEX.
Regarding trading rules, The Trading Pit allows scalping, copy trading, news trading, and HFT (High-Frequency Trading).
Plan/Specifications
Lite
Standard
Executive
VIP
Plan/Specifications
Price
Lite
$99
Standard
$169
Executive
$349
VIP
$599
Plan/Specifications
Profit Target
Lite
Phase 1 - $1,000
Standard
Phase 1 - $5,000
Executive
Phase 1 - $3,000
Phase 2 - $3,000
VIP
Phase 1 - $3,000
Phase 2 - $3,000
Plan/Specifications
Profit Share
Lite
60% Up To 70%
Standard
60% Up To 70%
Executive
60% Up To 80%
VIP
70% Up To 80%
Plan/Specifications
Total Payout
Lite
$12,080
Standard
$111,000
Executive
$131,850
VIP
$133,300
Plan/Specifications
Exchanges
Lite
CME
Standard
CME, EUREX, CBOT, COMEX, NYMEX
Executive
CME, EUREX, CBOT, COMEX, NYMEX
VIP
CME, EUREX, CBOT, COMEX, NYMEX
The Trading Pit Scaling Explained
Each Challenge account consists of 10 distinct levels for traders to progress through. Higher levels offer a greater profit share, larger drawdown limits, and more contracts to trade. For instance, a trader who successfully completes the Executive Challenge will start at Level 1 of the Executive plan, which allows traders to handle up to 5 standard contracts.
Upon reaching the $1500 profit target, the trader will immediately receive $900 in their account balance and advance to Level 2, which has a $3000 profit target and a higher number of contracts. Every level increases the profit target and, along with it, the potential earnings and trading capacity. The Trading Pit also provides an online calculator tool to assist traders in calculating their profits.
This is an excellent feature because it offers a clear path for growth and significant financial rewards.
Which Platforms Does The Trading Pit Support?
Traders at The Trading Pit have access to four trading platforms, depending on their subscription plan and the types of assets they trade:
- ATAS: Widely used by prop trading firms and professional traders, Advanced Trading Analytical Software offers comprehensive features for flow analysis, cluster analysis, volume market profile, and advanced technical analysis.
- Rithmic: One of the most popular trading platforms, Rithmic allows users to fully customize their workstations and offers low latency for high-performance trading.
- Quantower: Known for its high degree of customization, Quantower enables users to create their own workstations. It supports various synchronous data providers, provides an Open API, and integrates with VisualStudio.
- Bookmap: With a refresh rate of 40 frames per second, Bookmap provides real-time visualization of market flows. Its tools include a heatmap, volume tools, imbalance and strength level indicators, large lot trackers, advanced volume deltas, and more.
- MT4: MetaTrader 4 trading system is capable of implementing trading strategies of any complexity. You will have access to tools like instant execution, trading from a chart, market and pending orders, stop orders and trailing stop, trading history, and more.
- MT5: MetaTrader 5 trading system is designed to help you automate your trades. This web-based trading platform helps traders execute orders automatically using trading robots, signals and fundamental analysis. Key features of MT5 are web trading, algorithmic trading, mobile trading, and professional technical analysis.
Traders at The Trading Pit also have access to four trading tools:
- StereoTrader: This tool is specifically designed to enhance trading speed and risk management on forex, futures, and CFD markets. With more than 35 one-click actions, intelligent orders, and expert advisors, StereoTrader takes trading on the MT4 and MT5 platforms to a new level.
- Squawkbox: Developed by financial expert Alexander Maier, Squawkbox provides constant monitoring and up-to-date market information. It offers daily analysis of major Eurex and CME products, keeping traders informed about the latest market developments.
- Economic Calendar: The Trading Pit provides traders with an Economic Calendar that presents the latest forecasts for potentially market-moving events. Traders can easily add forecasts of interest with just one click.
- CME Heatmap: This tool allows traders to stay updated on the latest market changes through fast quotes and a comprehensive heatmap. The CME Heatmap is a valuable resource for monitoring and analyzing market dynamics.
These trading tools offered by The Trading Pit are designed to assist traders in making informed decisions and staying ahead of market trends.
Does The Trading Pit Charge Any Fees?
There are no monthly subscriptions or hidden fees on The Trading Pit. All plans require a one-time payment only.
Please note that currently, The Trading Pit only allows withdrawals from bank accounts, with additional withdrawal options expected in the future.
It is important to note that any fees incurred by the trader's bank are not the responsibility of the company. Withdrawals may take between 2-7 working days to process.
The Trading Pit Privacy and Customer Support
The Trading Pit complies with GDPR regulations and stores user data in encrypted databases. The data will only be used for customer support, service improvement, and analytics purposes. If users wish to have their personal data erased, they can submit a deletion request.
For customer support, users can reach out to The Trading Pit through a request form, email, phone number (+4232379000), or live chat.
How Does The Trading Pit Compare to Other Trading Platforms?
The Trading Pit
Minimum Deposit:
Starts from $99
Fees:
None
Mobile app:
R/Trader
Trading props:
- • CFDs
- • Futures
DarwinexZero
Minimum Deposit:
$500
Fees:
$38/month
Mobile app:
Yes
Trading props:
- • CFDs
- • US Stocks
- • Forex
- • Indices
- • Futures
- • ETFs
Pepperstone
Minimum Deposit:
$0
Fees:
Varies by account
Mobile app:
Yes
Trading props:
- • Forex
- • Commodities
- • Indices
- • Cryptocurrencies
- • Shares
- • ETFs
Final Thoughts
The Trading Pit offers a truly unique prop trading experience. They provide users with all the necessary information to start their trading careers while making new challenges fun and exciting through the scaling process. With a wide variety of tools and supported platforms, traders can try themselves in CFDs and futures markets while paying only a fraction of the cost of the traded amount.
The only downside we found while writing our The Trading Pit review is that they offer limited options when it comes to types of assets for trading and withdrawal methods. However, the company aims to address this by introducing more payment options and expanding the range of tradable assets.
FAQ
Is The Trading Pit legit?
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The Trading Pit is GDPR compliant and utilizes cutting-edge encryption technology to protect users' data. The collected data is solely used for improvement, analytics, and customer support purposes. Additionally, The Trading Pit offers fast payouts and a wide selection of trading platforms, plans, and tools, with an option for a 14-day early refund if you change your mind.
Finally, The Trading Pit prioritizes the legal and risk protection of its partners. They hire capital markets law experts to protect The Trading Pit and its partners. So far, no objections have been raised by prop traders.
What is the best trading site to use?
+
With its wide variety of supported tools and platforms, The Trading Pit stands out as one of the best firms for prop trading. Their scaling plans, comprehensive knowledge library, and generous profit share of up to 80% provide a balanced mix of subscription service security and the challenge of a trader's pit.
Which trading is good for beginners?
+
For novice traders looking to enhance their skills, day trading can be an excellent starting point. Day trading involves buying and selling financial instruments within the same day, taking advantage of daily price fluctuations. Before getting started, it is important to have a well-planned strategy, start with small investments, avoid penny stocks, choose a legitimate and secure prop trading firm, and maintain realistic profit expectations.
