The Trading Pit Review: Pros, Cons, and Our Verdict (2024) - Analyzing Alpha (2024)

Attention traders seeking capital! If you’re looking for a firm offering multi-asset trading, cutting-edge technology, and the tools to develop your skills, look no further than the Trading Pit. Their unique trading environment is designed to help traders succeed.

Find out if the Trading Pit is the best prop trading firm for you with our The Trading Pit Review.

What Is The Trading Pit?

The Trading Pit is a futures and forex prop trading firm aiming to become the global standard for investors and traders.They recognize that trading is challenging and have created a safe and proven path for their traders.

The Trading Pit’s philosophy revolves around partnering with its traders, providing them with the knowledge and tools needed to succeed. They offer a funded account to traders who can demonstrate their proficiency, allowing you to avoid risking your own capital. It’s an intelligent way to build your trading career while minimizing risk.

Who Founded The Trading Pit?

Trading Pit, co-founded by the seasoned trading expert Christoph Radecker, has recently named Thomas Heyden their new CEO. Heyden, who has an extensive background in futures trading, is optimistic about the prop trading firm’s potential for growth and global impact. With Radecker’s guidance and Heyden’s leadership, Trading Pit is poised to make waves in the trading industry.

The Trading Pit Tradable Assets

At The Trading Pit, you can trade futures, forex, and combos, but they have exciting plans to expand to stocks and cryptos shortly.

How The Trading Pit Works

The Trading Pit offers three challenges for traders depending on their instrument of choice. Let’s discuss how each challenge works and the different accounts you can pick from!

The Trading Pit Challenge

To get funded by The Trading Pit, you must pass their evaluation process. Start by signing up for a challenge account and meet the profit target while following their trading objectives. Once you’ve proven yourself, The Trading Pit will hook you up with a funded account and a scaling plan to help you reach new heights.

The rules for each challenge vary depending on your account, but here are some general guidelines for a Trading Pit challenge account:

• Pass the challenge in the required number of days (varies depending on the version)
• Do not exceed the daily loss limit (varies depending on the account version)
• Do not exceed the maximum trailing drawdown (varies depending on the account version)
• Do not exceed 50% of your profit target in a single trading day

We’ll get into each account type in more detail below!

Forex Challenge

Forex traders can select a Lite, Standard, Executive, or VIP challenge account. Each challenge account offers different initial balances, growth potential, and rules.

But no matter which account type you choose, forex traders can use EAs, trade using any style, and hold positions over the weekend. This means that even swing traders are welcome!

Lite Account

With a Lite Account, your challenge account balance will start at $2,500. You can scale up to as much as $250,000 and earn a cumulative profit of up to $54,775.

You’ll have to follow these rules to get funded:

• Place trades for a minimum of 10 days
• $250 profit target
• $75 daily drawdown limit
• $250 max trailing drawdown limit

The Lite Account is an excellent choice if you’re a beginner trader seeking a modest amount of capital.

Standard Account

The Standard option offers a challenge account balance of $5,000. With the scaling plan, you can manage up to $1,000,000 and earn a cumulative profit of up to $59,200.

Here are the rules for a Standard Account:

• Place trades for a minimum of 10 days
• $500 profit target
• $150 daily drawdown limit
• $500 max trailing drawdown limit

The Standard Account is excellent for traders who prefer a bit more funding than what the Lite Account has to offer.

Executive Account

You can pick the Executive Account for a starting balance of $10,000. For this type of account, the evaluation is a two-step process. You can grow your account to $1,000,000 and earn a total profit of up to $297,3000.

These are the rules for an Executive Account:

• Place trades for a minimum of seven days (per phase)
• $600 profit target in Phase 1
• $400 profit target in Phase 2
• $300 daily drawdown limit in Phase 1, $200 in Phase 2
• $800 max trailing drawdown limit

The Executive Account is the most popular option for forex traders, offering fast funding and high profitability. It is an excellent choice if you’re a skilled trader.

VIP Account

The VIP Account starts you off with a balance of $20,000 but lets you grow up to $1,000,000. This account type also requires that you pass a two-step evaluation process. With the VIP Account, you can enjoy a cumulative profit of up to $296,700.

Here are the rules:

• Place trades for a minimum of 15 days
• $2,000 profit target in Phase 1
• $600 daily drawdown limit in Phase 1
• $2,000 max trailing drawdown limit in Phase 2
• No profit target or drawdown rules in Phase 2

If you want to start immediately with a high initial balance, the VIP Account is perfect.

Futures Challenge

Like forex traders, futures traders can choose between accounts with varying buying power and rules. The rules for each account work differently for futures trading, so let’s break down how each option works!

Lite Account

The Futures Lite Account starts with an initial balance of $10,000. You can earn a total profit of $9,275 by progressing through the scaling plan.

Here are the rules for a Futures Lite Account:

• Pass the challenge in 30 days
• Place trades for a minimum of 10 days
• $1,000 profit target in Phase 1
• $100 daily drawdown limit in Phase 1
• $500 max trailing drawdown limit in Phase 1

New futures traders seeking a smaller initial balance are excellent candidates for the Lite Account.

Standard Account

The Standard Account for futures traders starts with a $60,000 balance. Earn a cumulative profit of up to $102,900 by being a profitable trader.

Here are the rules you’ll need to follow:

• Pass the challenge in 30 days
• Place trades for a minimum of 15 days
• $7,500 profit target in Phase 1
• $2,500 max trailing drawdown limit in Phase 1

The Standard Account is ideal for traders who want a higher initial balance than the Lite Account offers.

Executive Account

The Executive Account features an initial balance of $150,000. You get a more significant initial balance, but like the Standard Account, your profits can total up to $102,900.

Here are the rules for an Executive Account:

• Pass the challenge in 30 days
• Place trades for a minimum of 10 days per phase
• $3,000 profit target in Phases 1 and 2
• $2,500 daily drawdown in Phase 1, $1,000 in Phase 2
• $3,500 max trailing drawdown in Phase 1, $3,500 in Phase 2

Like forex traders, futures traders choose the Executive Account option the most.

VIP Account

The VIP Account also starts you off with $150K, but you can earn a cumulative profit of up to $120,050.

Here are the rules for trading with a VIP Account:

• Pass the challenge in 30 days
• Place trades for a minimum of 7 days per phase
• $3,000 profit target in Phases 1 and 2
• $2,500 daily drawdown in Phase 1, $1,000 in Phase 2
• $5,000 max trailing drawdown in Phases 1 and 2

The Futures VIP Account is the best option for traders seeking maximum profitability.

Combo Challenge

The Trading Pit also offers a Combo Challenge where you can trade a combination of forex CFDs and real futures in one account. With a Combo Account, there are only two account sizes: $2,500 or $10,000. You can hold positions over the weekend and use any trading style, a feature we appreciate.

Lite Account

With the Lite Account, you start with an initial balance of $2,500. You can also earn a cumulative profit of up to $54,775.

Here are the rules for a Lite Combo Account:

• Pass the challenge in 90 days
• 10 minimum trading days
• $250 profit target in Phase 1
• $75 daily drawdown limit in Phase 1
• $250 max trailing drawdown limit in Phase 2

The Lite Account is a solid choice if you’d like to save money and start with a lower balance.

Executive Account

The Executive Account provides a starting balance of $10,000 and a potential cumulative profit of $297,300.

Here are the rules for an Executive Combo Account:

• Pass the challenge in 90 days
• 10 minimum trading days
• $600 profit target in Phase 1, $400 in Phase 2
• $300 daily drawdown in Phase 1, $200 in Phase 2
• $800 max trailing drawdown in Phase 1, $600 in Phase 2

The Executive Account is the superior option for combination traders if you’d like more buying power.

Top Features of The Trading Pit

Let’s discuss The Trading Pit’s top features we think all traders should know!

50-80% Profit Split

If you trade forex, you start with a 50% profit split but can work up to 80%. If you trade futures or pick a Combo Account, you start with 50% but can work up to 70%. We noticed these profit splits are less generous than other firms’, so this is something to consider.

Instant Payouts

One feature that sets The Trading Pit apart from other firms is its instant payout method. You can withdraw your money immediately without waiting, a feature many prop firms lack.

Funding Up to $1,000,000

The Trading Pit offers a scaling plan to manage as much as $1,000,000. If you’re a skilled trader seeking massive amounts of capital, this feature makes The Trading Pit an excellent option.

Trading Tools & Resources

We also appreciate the trading tools and educational resources that The Trading Pit offers. When you become a TTP partner, you can access StereoTrader, Squawkbox, CME Heatmap, and an Economic Calendar. Beginner traders can also use webinars, videos, glossaries, and blogs to advance their trading skills.

The Trading Pit Pricing

So, how much does it cost to trade with TTP? In our opinion, it’s not too expensive!

See the table below for a breakdown of how much a Forex Account costs.

Here’s a breakdown of the costs for a Futures Account:

This is how much you’ll pay for a Combo Account:

Some prop trading firms make you pay recurring fees, so we appreciate that TTP only charges one single fee for each account.

The Trading Pit Pros & Cons

Let’s discuss the pros and cons we noticed while trading with this prop firm!

The Trading Pit Pros

• Simple, straightforward trading rules
• Unique proprietary trading experience
• No monthly payments
• Speedy payouts
• Manage as much as $1,000,000
• Access to the most popular trading platforms

The Trading Pit Cons

• Limited profit split at first
• No Discord community
• Customer service may be slow

User Reviews for The Trading Pit

The Trading Pit has 4.7 stars on TrustPilot, making it one of the highest-rated prop firms.

Positive Reviews

One trader named Nelson praises The Trading Pit’s customer service team and their ability to come up with solutions.

Another happy trader named Mohamed says he appreciates the prop firm’s trading rules and helpful support team.

Negative Reviews

But not everyone is happy with their experience at The Trading Pit; one trader named Thomas criticized the drawdown rule, warning traders that they’ll never earn money with this prop trading firm.

The Trading Pit Alternatives

After hearing the pros, cons, and user reviews, you still may not be sure if this prop trading firm is right for you. No worries- we recommend checking out these competing proprietary trading firms:

• Apex Trader Funding
• Earn2Trade
• Leeloo Trading
• The Trading Pit
• Topstep

Our Personal Experience with The Trading Pit

As someone with extensive prop trading experience, I highly recommend The Trading Pit. Compared to other firms, TTP stands out for its affordable pricing, straightforward trading rules, and diverse funding options, making it easy for even beginners to get started. Successful traders can get funded quickly, regardless of their trading style or strategies. As a funded trader, you can earn more significant account balances and receive prompt payments.

However, I do have some suggestions for improvement. I’d like to see higher compensation for traders from the beginning, allowing them to keep a more significant portion of their profits. Working up the scaling plan can take some time, depending on your skill level so this change would be ideal. Additionally, although TTP offers a 24/7 chatbot, I would like more direct access to the customer support team. Overall, TTP is an excellent prop trading choice with room for improvement.

Conclusion: Should You Trade with The Trading Pit?

So are you a good fit for The Trading Pit? Whether you’re a seasoned pro or just starting, The Trading Pit’s extensive trading tools and flexible funding options make it an ideal choice.

While The Trading Pit doesn’t offer unlimited financial instruments, keep an eye on this expanding firm as it plans to add stock and crypto trading shortly. The Trading Pit is poised for continued growth and success by branching into new global markets.

In summary, The Trading Pit is an excellent choice for those seeking to enhance their trading abilities and boost their financial gains in the forex and futures markets.

But if you’re still seeking other choices, check out our Best Prop Firms for Futures Review!