The Trading Pit, launched in 2022, aims to provide an accessible and lucrative platform for traders to showcase their skills and potentially build a successful trading career. With a range of trading platforms and account types and their innovative approach, TTP will keep you hooked! Now, let’s take a closer look at TTP’s offerings.
Pros
Cons
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The Trading Pit Overview
The Trading Pit is a global proprietary trading firm that offers aspiring traders the opportunity to prove their skills and potentially manage the company's capital. Founded in 2022, The Trading Pit is headquartered in Cyprus, with an additional office in Liechtenstein, Germany. The company is led by CEO Daniela Egli, who was appointed in December 2022.
The Trading Pit provides a range of trading challenges, starting at just $99, which allow traders to showcase their abilities. Successful traders can then access the firm's Scaling Plan, where they can trade with up to $5 million in capital and keep up to 80% of the profits they generate.
One of the key features of The Trading Pit is its multi-asset offering, which includes forex, CFDs, commodities, indices, crypto, and stock CFDs. The company also provides educational resources and mentorship programs to support traders in their development.
The Trading Pit prides itself on being a transparent and conflict-free prop trading firm. It operates a broker-neutral model and does not charge hidden fees. The company has a global presence, with active accounts in over 190 countries, and has processed over $40 million in payouts to date.
| Key Feature | Details |
|---|---|
| CEO | Daniela Egli |
| Platform | MetaTrader 4 (MT4), MetaTrader 5 (MT5), ATAS, Rithmic, Quantower |
| Payout Split | Up to 80% |
| Payouts | Weekly (every Friday) |
| Daily Drawdown | 4% |
| Headquarters | Cyprus (main office), with additional offices in Liechtenstein and Spain |
| Expert Advisors | Allowed |
| Max Funding | Up to $5,000,000 through a scaling plan |
| Funding Programs | Lite, Standard, Executive, VIP challenges |
| Leverage | Up to 1:30 |
| Weekend Holding | Allowed |
| Contact | support@thetradingpit.com |
| Trustpilot Rating | 4.2/5.0 |
The Trading Pit Account Types and Challenges
The Trading Pit offers a range of account types tailored to different trading styles and experience levels. These include:
| Account Type | Challenge Balance | Profit Target | Max Daily Drawdown | Max Drawdown | Profit Share |
|---|---|---|---|---|---|
| Lite | $10,000 | $1,000 (10%) | $400 (4%) | $700 (7%) | Up to 70% |
| Standard | $20,000 | $2,000 (10%) | $800 (4%) | $1,400 (7%) | Up to 70% |
| Executive | $50,000 | $5,000 (10%) | $2,000 (4%) | $3,500 (7%) | Up to 80% |
| VIP | $100,000 | $10,000 (10%) | $4,000 (4%) | $7,000 (7%) | Up to 80% |
To access these accounts, traders must first pass an evaluation phase known as the Trading Challenge. The challenge involves meeting profit targets within a specified timeframe while adhering to risk management rules such as maximum drawdown limits.
Once a trader successfully completes the challenge, they progress to the Scaling Plan, where they can trade with increasingly larger account balances and earn a significant share of the profits.
One notable aspect of The Trading Pit's challenge model is the one-time fee structure.
Unlike some competitors that charge recurring monthly fees, The Trading Pit requires only a single payment to participate in a challenge. This makes it more accessible for traders who may not want to commit to ongoing costs.
The Scaling Plan
The Trading Pit offers an attractive Scaling Plan for traders who successfully complete one of their trading challenges. The Scaling Plan allows profitable traders to manage increasingly larger amounts of the firm's capital, up to $5 million, while earning a generous share of the profits they generate.
Upon passing a trading challenge, traders progress to the corresponding Scaling Plan for their account type (Lite, Standard, Executive, or VIP). They receive a new Profit Target and Drawdown limit along with a demo account. As traders reach each Profit Target, they unlock a payout and gain access to the next level demo account, which comes with more capital and flexible drawdown rules.
The profit split on the Scaling Plan ranges from 50% up to 80%, depending on the profits made and the scaling level reached.
The Scaling Plan is available for both CFD and Futures trading challenges, with slight variations in the Profit Target and Drawdown limits for each.
Trading Platforms and Tools
The Trading Pit supports a wide range of trading platforms, catering to different preferences and needs. These include:
Asset Classes and Instruments
Currently, The Trading Pit focuses primarily on two asset classes: futures and forex. Traders can access a wide range of instruments within these categories, including:
- Futures: Contracts on major indices, commodities, and interest rates from exchanges like CME, CBOT, COMEX, NYMEX, and EUREX.
- Forex: Over 500 CFDs on currency pairs, covering majors, minors, and exotics.
Payouts and Profit Sharing
One of the most attractive aspects of The Trading Pit is its generous profit-sharing model. Traders can earn up to 80% of the profits they generate, depending on their account type and performance. This is among the highest profit shares offered in the prop trading industry, making it a compelling option for skilled traders looking to maximize their earnings potential.
The payout process is straightforward and efficient. Traders can request a withdrawal once they have reached their profit target, and payouts are processed every Friday. The Trading Pit supports multiple payout methods, including bank wire transfers and cryptocurrencies. Payouts can be made in either EUR or USD, with the firm handling currency conversions based on the prevailing exchange rates.
It's worth noting that The Trading Pit charges a small fee (1%) to cover transaction and gas costs, which is deducted from the trader's profit share rather than the total account balance. This ensures that the fee is only applied to the trader's earnings and not the firm's capital.
Educational Resources and Support
The Trading Pit places a strong emphasis on education and support, recognizing that many aspiring traders may need guidance to reach their full potential. The firm offers a complete library of educational content, including articles, guides, and webinars covering various aspects of trading, from basic concepts to advanced strategies.
In addition to these self-study resources, The Trading Pit provides access to mentors who can offer personalized guidance and support. This can be particularly valuable for newer traders who may benefit from the experience and insights of more seasoned professionals.
The Trading Pit also fosters a sense of community among its traders, encouraging collaboration and knowledge sharing. The firm's active social media presence and regular events create opportunities for traders to connect, learn from one another, and celebrate their successes.
| Support Channel | Details |
|---|---|
| support@thetradingpit.com | |
| Phone | +4232379000 |
| Live Chat | Available on www.thetradingpit.com |
| Contact Form | Submit inquiries via form on the website |
| FAQ | Answers to common questions on the website |
| Blog | Articles with insights, news, and educational content |
| Telegram | Channel for updates, exchange views, advice, and news |
Affiliate Program
For those interested in promoting The Trading Pit, the firm offers an attractive affiliate program. Affiliates can earn up to 20% lifetime commissions on the fees generated by referred traders. The program supports both multi-level marketing (MLM) and tiered commission structures, allowing affiliates to choose the approach that best suits their marketing style and goals.
The Trading Pit provides comprehensive support for its affiliates, including marketing materials, tracking tools, and dedicated account managers. This level of support can help affiliates maximize their earnings potential and build successful long-term partnerships with the firm.
How to Sign Up for The Trading Pit? Step-by-Step Guide
- Visit the official website: Go to www.thetradingpit.com.
- Click “Register” or “Sign Up“: Look for these buttons, usually located in the top right corner of the homepage.
- Fill out the registration form:
- Read and agree to the Terms and Conditions and Privacy Policy by checking the corresponding box. (Optionally, you can agree to receive newsletters and updates by checking that box).
- Click “Create Account” or “Sign Up” to submit your registration.
- Check your inbox for a verification email from The Trading Pit and click the link to confirm your account.
- After verification, log in to your new account and fill out any additional required information.
- Select the account type and challenge you to want to attempt (Lite, Standard, Executive, or VIP).
- Make the one-time payment for your chosen challenge.
- Start trading, once your payment is processed, you can begin your trading challenge using the provided demo account.
Trustpilot Ratings and Reviews
Review 1:
This reviewer gives The Trading Pit a staggering 5 on 5!
Review 2:
Albeit, this user isn’t sure about his trading plan, he is definitely sure about The Trading Pit!
Review 3:
This trader is completely in awe of The Trading Pit, take a look!
Common Queries Related to The Trading Pit
What Assets Can be Traded on The Trading Pit?
Currently, traders can trade futures and forex. The company plans to add stocks and cryptocurrencies in the future.
Is there a time limit for The Trading Challenge?
No, The Trading Pit offers unlimited challenge duration, but there is a minimum of 5 trading days.
What is The Scaling Plan?
The Scaling Plan allows successful traders to manage increasingly larger amounts of capital, up to $5 million.
Does The Trading Pit offer Educational Resources?
Yes, The Trading Pit provides various educational tools including ebooks, webinars, podcasts, videos, and infographics.
Is there an Affiliate Program?
Yes, The Trading Pit offers an affiliate program with up to 20% lifetime commissions on referred traders' fees.
Where is The Trading Pit based?
The company is headquartered in Cyprus, with an additional office in Liechtenstein, Germany.
Who leads The Trading Pit?
The CEO of The Trading Pit is Daniela Egli, who was appointed in December 2022.
🔗 Conclusion
The Trading Pit has quickly established itself as a promising player in the prop trading space, offering a compelling combination of accessible entry points, generous profit sharing, and complete support for its traders.
With its focus on transparency, technology, and educational resources, the firm has created an environment where traders can thrive and potentially build successful careers.
