The Trading Pit

The Trading Pit has the goal of being the new global standard in trading and investing. They equip traders with the knowledge and tools that are necessary in becoming successful partners of the firm. To become a funded trader, you must first pass a challenge to demonstrate your trading skills and discipline. Upon successful completion of the challenge, you are rewarded with a 50% up to 80% profit split on your future payouts.

Who are The Trading Pit?

The Trading Pit is a proprietary firm that has its headquarters based in Lichtenstein and offices in Cyprus, Spain, and Canada. In addition, they also have representatives in Germany, Italy, Egypt, China, Vietnam, and Uruguay. They offer motivated traders account sizes up to $100,000 with a scaling plan of up to $5,000,000 and a profit split of 50% up to 80%. They have integrated their technology with two brokers FXFlat and GBE Brokers, while also looking to add more to the list rapidly.

They are a registered company under the official name The Trading Pit Challenge GmbH, with a registration number: FL-0002.693.417-1.

The Trading Pit Challenge GmbH has now been operating since May 2021.

Their offices are located at an address, Landstrasse 63, 9490 Vaduz, Liechtenstein.

Who is the CEO of The Trading Pit?

Thomas Heyden is the CEO of The Trading Pit, who studied finance, insurance, and capital market theory at the Johann-Wolfgang-Goethe University and graduated successfully. He is a certified financial analyst who has worked for German banks and international investment houses.

Thomas has launched and managed multiple investment funds for his own regulated company. He has also received the German Fund Award for his investment fund back in 2009.

In addition to his work in the fund management and trading industries, he was also responsible for hedging commodity price risks for major German companies and the largest public transport companies in Europe. He is a very desirable speaker on commodity prices and foreign exchange risks for medium-sized businesses in Germany.

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Funding program options

The Trading Pit offers its traders the following four one-step challenge accounts to choose from.

One-step challenge program account

The Trading Pit’s one-step CFD challenge account aims to identify serious and talented traders who are rewarded for their consistency in the one-phase evaluation period. The one-step challenge program account allows you to trade with 1:30 leverage.

The evaluation phase requires a trader to reach a profit target of 10%, except for the $100k account size, where you have to reach a profit target of 8% while not surpassing their 5% maximum daily loss or 10% maximum loss rules. Note that $10,000 and $20,000 account sizes have trailing drawdown while $50,000 and $100,000 accounts have static drawdown. The maximum trading period is 90 calendar days to complete the evaluation phase. In addition, you should note that you have a three minimum trading day requirement in order to proceed to a funded account.

By completing the one-step challenge, you are awarded a funded account with an 8% or 10% profit target, depending on your account size. You are also required to respect the 5% maximum daily loss, while your maximum drawdown is now a 10% maximum trailing loss rule. You can request your first 50% or 60% profit split, depending on your account size, when you hit your 10% profit target, which will also allow you to scale your account to the next level. Note that the next payouts can be requested only when you hit your next 10% profit target. Your future payouts will consist of a 50% up to 80% profit split, depending on your initial account size and the current level of your trading account.

One-step challenge account scaling plan

The one-step challenge account also has a scaling plan. You are required to reach a profit target of 8% or 10% based on your initial account balance, depending on your account size. Note that the scaling ranges from $500,000 up to $5,000,000, depending on the account size that you are trading on.

You can see the scaling plan for the two-step challenge accounts below:

Lite challenge account scaling plan

Standard challenge account scaling plan

Executive challenge account scaling plan

VIP challenge account scaling plan

Trading instruments for the one-step challenge accounts are forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.

One-step challenge account rules

• Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. The one-step challenge has a profit target of 10% or 8% depending on the account size. Funded accounts also have an 8% or 10% profit target in order to withdraw your profits and scale your account balance, depending on your initial account size.
• Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
• Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%. However, note that this is only during the evaluation phase.
• Maximum trailing drawdown is the maximum drawdown that is equal to the distance between the highest account balance achieved and the maximum drawdown. Once reaching funded status, all account sizes have a maximum trailing drawdown of 10%. Note that $10,000 and $20,000 account sizes also have a trailing drawdown in the evaluation phase.
• Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. The evaluation phase has a 3 minimum trading day requirement.
• Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. The evaluation phase has a maximum trading period of 90 trading days.
• No copy trading allowed means that traders are not allowed to use any type of copy trading services.

Upgrade options for your two-step challenge account

1. Reset option, you are eligible for a reset at a discounted price. A new account will open with the remaining day of the challenge. If you choose to reset your account five days after your initial purchase, then your fresh account will start with the remaining 85 days. There are no limits regarding how many resets you can get. However, if you breach your account, you will receive an email with a unique link that will still allow you to reset and resume your challenge.
2. Extend option, you are eligible to buy an extension. For example, if you have three days left before the challenge ends, you have the option to extend your trading period timeframe for an additional 90 calendar days.

What makes The Trading Pit different from any other prop firm?

The Trading Pit is different from most of the industry-leading prop firms due to offering a one-step evaluation challenge with relatively relaxed trading rules while also being able hold trades overnight and over the weekend while news trading pending orders are also allowed.

The Trading Pit’s one-step challenge is a one-phase challenge that requires traders to complete one phase before being eligible for payouts. The profit target is 8% or 10% with a 5% maximum daily and 10% maximum loss rules, depending on the initial account size you are trading on. Note that $10,000 and $20,000 account sizes have trailing drawdown while $50,000 and $100,000 accounts have static drawdown. You are also required to complete the evaluation phase in a 90 calendar-day period with a three minimum trading day requirement before becoming funded. Note that once you become funded, you will have a profit target with no maximum time period. Once hit, you will be able to request your withdrawal and additionally scale your account to the next level. In addition, your maximum drawdown will also be trailing on all account sizes. The one-step challenge account also has a scaling plan. Compared to other industry-leading prop firms, they have average drawdown limitations with low minimum trading day requirements.

In conclusion, The Trading Pit is different from most of the industry-leading prop firms due to having relaxed trading rules. You are allowed to trade news releases and hold trades overnight and over the weekend.

Is getting The Trading Pit capital realistic?

When looking at prop firms that best suit you and your forex trading style, it’s important to look at how realistic the trading requirements are. For example, a company offering a high % profit split on a highly funded account sounds great but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the one-step challenge account is realistic mostly since they have average profit targets (8% or 10%, depending on the account size) with average maximum loss rules (5% maximum daily and 10% maximum loss). However, kindly note that on $10,000 and $20,000 evaluation accounts and all funded account sizes, your maximum loss limit is trailing. You should also note that once funded, you have a profit target of 8% or 10%, depending on your account size, in order to be eligible to request a withdrawal and scale your account balance.

After considering all of that, The Trading Pit is an excellent choice to get funded since you can choose from one-step challenge accounts that all have realistic trading objectives to follow and conditions to receive payouts.

Payment proof

The Trading Pit is a proprietary trading firm that was incorporated in February 2022.

With The Trading Pit, traders can request a withdrawal once they reach funded status and hit their first 8% or 10% profit target, which will enable them to receive a payout, as well as account scaling. They have no time limitations on the profit targets once an individual becomes funded. Traders are entitled to 50% up to 80% profit splits, depending on the account size that they are funded with and the level of scaling they have achieved.

You can see two examples of payment proof below:

Which broker does The Trading Pit use?

The Trading Pit uses FXFlat and GBE Brokers as their broker options.

FXFlat is a first-class online brokerage. They are a liquidity provider with company headquarters located in Germany, which offers traders reliability with high standards. They originally started as a CFD and Forex broker. However, they expanded and are now additionally offering the entire spectrum of asset classes and financial instruments to their traders.

GBE Brokers is a regulated CFD broker with a German office in the Port of Hamburg. They have a young and professional team that has been deliberately put together in a multicultural way so that traders can benefit from their international and extensive banking and financial market experience.

As for trading platforms, they allow traders to choose between MetaTrader 4 and MetaTrader 5.

Trading instruments

The Trading Pit offers a large variety of trading Instruments. You are allowed to trade forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.

In addition, you can view the full list of available trading instruments, which also includes bonds, stocks, and cryptocurrencies here.

Trading fees

Trading commission:

You can learn more about The Trading Pit’s commission structure here.

Spread:

In order to check the live spreads login to the trading account below:

Education & Support for traders

The Trading Pit provides numerous educational content.

Traders can receive access to the following:

• Multiple Trading Tools
  • StereoTrader (trading optimization software and highly customizable infrastructure providing ground-breaking solutions for manual and automated trading)
  • Squawkbox (News, analysis & market commentary in real-time)
  • Economic Calendar (global economic calendar where you will find all of the important market updates and upcoming events)
  • CME Heatmap (Leverage the power of CME Group’s Open Interest Heatmap)
• Webinars (The Trading Pit’s live webinars)
• Educational videos (The Trading Pit’s educational videos)
• Glossary (The Trading Pit’s glossary)

Traders’ Comments about The Trading Pit

The Trading Pit has excellent feedback from their reviews.

On Trustpilot, they have numerous positive comments with excellent feedback from their community, with an excellent score of 4.8/5 out of 120 reviews.

A vast majority of The Trading Pit’s community praises their responsive and helpful customer support team, which we can also see in the comment above.

Social media statistics

The Trading Pit can also be found on social media.

They have a:

• Facebook page with 2,131 followers,
• Instagram profile with 788 followers,
• Twitter account with 183 followers,
• LinkedIn profile with 1,841 followers,
• Youtube channel has 233 subscribers with 45 uploaded videos, and
• TikTok channel with 40 followers.

In addition, you can also join The Trading Pit’s Discord channel to talk with other members of their community.

Support

The Trading Pit has an FAQ page where you can find all the information that you need about the firm. 

The support team is available on their live chat and social media, or you can contact them directly at their email support@thetradingpit.com.

For any further information, you can also contact The Trading Pit through the following telephone number: +4986774014100.

Additionally, you can also reach their support team through their Discord channel, where they will gladly answer all of your queries.

Conclusion

In conclusion, The Trading Pit is a legitimate proprietary trading firm that offers traders a chance to choose between different size one-step challenge accounts.

The one-step challenge account is a one-phase evaluation challenge that requires the completion of an evaluation phase before becoming funded and being eligible to earn profit splits. The Trading Pit requires traders to reach profit targets of 10% or 8% in the evaluation phase, depending on your initial account size, before becoming funded. These are realistic trading objectives considering you have a 5% maximum daily drawdown and 10% maximum loss rules in both evaluation phases. Note that in the evaluation period, $10,000 and $20,000 account sizes have trailing drawdown while $50,000 and $100,000 accounts have static drawdown. However, once you become funded, your maximum drawdown will be trailing on all account sizes. With the one-step challenge account, you can earn 60% up to 80% profit splits while also being able to scale your accounts.

I would recommend The Trading Pit to anyone who is looking for a prop firm with relaxed and straightforward trading rules. They offer a one-step challenge program with excellent conditions for a big pool of individuals with unique trading styles. After considering everything The Trading Pit has to offer, they are for sure an attractive choice in the proprietary trading firm industry.

This review of The Trading Pit was lastly updated on 19.07.2023 at 11:57 CE(S)T.

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