The Trading Pit: A Review of its Funded Trader Programs (2024)

The Trading Pit is an ambitious trading community that offers a unique proposition for both budding and experienced traders. They provide a platform where traders can prove their mettle, and upon successful demonstration of skills, they are given the opportunity to manage a substantial amount of capital while retaining a large portion of their profits. The Trading Pit’s model is a robust blend of talent search, capital provisioning, and profit sharing.

The Trading Community and Process

Upon signing up, every prospective trader is welcomed into a dynamic community of traders from around the world, creating a vibrant environment to learn from and grow with. One of the standout features of this community is its simplicity and clarity. The rules are transparent, there’s no small print or hidden clauses, and the entire process is straightforward, with traders demonstrating their abilities in a controlled environment.

Trading Programs Overview

The Trading Pit offers four distinct trading programs for Contract for Difference (CFD) trading and four for Futures trading, each catering to different skill levels and risk appetites: Lite, Standard, Executive (their most popular), and VIP. Each program has an account balance starting from $10,000 to $100,000 for CFDs and $20,000 to $250,000 for Futures.

Trading Requirements and Profit Targets

In each program, traders must meet specific profit targets within a set timeframe, typically 90 days, although Lite and Standard Futures programs have an initial duration of 30 days with extension options. The profit target varies from plan to plan, ranging from $1,000 to $8,000 for CFDs and varies in phases for Futures. Moreover, the program imposes certain limitations such as daily and maximum drawdowns, and a consistency rule which states that a trader should not exceed 35% of the profit target in a single trading day.

Risk Management Focus

The program is not just about profit generation; it equally emphasizes risk management. Traders must demonstrate their ability to protect capital by staying within daily and maximum drawdown limits. This approach ensures that traders don’t take on excessive risk to meet their profit targets.

Profit-Sharing Model

A remarkable aspect of The Trading Pit is its profit-sharing model. Depending on the chosen program, traders get to keep 50% to 80% of the profits they make. It is crucial to note that the profit is withdrawable at each level and there are no withdrawal limits.

Costs and Options

One-time payment for each program varies, starting from $99 for Lite to $999 for VIP in the case of CFDs and $99 to $599 for Futures trading. These fees can be fully refunded after passing Level 1 of the respective program. Furthermore, The Trading Pit offers options to reset or extend challenges at additional costs. This level of flexibility allows for adjustments based on a trader’s individual needs.

Trading Rules and Regulations

There are some ground rules to abide by, for instance, no High-Frequency Trading (HFT) in CFDs, although it is allowed in Futures. In CFDs, news trading isn’t permitted 2 minutes before and after events. However, it’s allowed in Futures trading. The rules vary slightly between CFD and Futures trading, but the fundamental ethos remains the same – demonstrate your trading skills, manage risk well, and you are rewarded.

Trading Tools and Platforms

The platform also offers real-time data fees, free platform licenses, and partnerships with leading brokerage firms, ensuring traders have all the necessary tools at their disposal. Trading is conducted on the FXFlat platform, which supports both MT4 and MT5 trading platforms for CFDs, and a variety of platforms for Futures trading including TradeStation and NinjaTrader.

Quick Wrap Up

To sum up, The Trading Pit provides an exceptional opportunity for traders to put their skills to the test, manage sizeable amounts of capital, and earn substantial profits while enjoying the support of a global community of traders. The program’s clarity, accessibility, and generous profit-sharing make it an appealing option for traders keen on taking their trading career a step further

Quick Details for The Trading Pit

ProgramsProgram CostsAvailable FundingProfit SharingMax. DrawdownEvaluation DurationProfit TargetsMoney Back GuaranteeOther Trading Rules
Lite (CFD)$99$10,00050%5%30 Days$1,000Full refundNo HFT, News Trading
Standard (CFD)$299$25,00060%5%90 Days$2,500Full refundNo HFT, News Trading
Executive (CFD)$499$50,00070%10%90 Days$4,000Full refundNo HFT, News Trading
VIP (CFD)$999$100,00080%10%90 Days$8,000Full refundNo HFT, News Trading
Lite (Futures)$99$20,00050%5%30 DaysVaries in PhasesFull refundHFT Allowed, News Trading Allowed
Standard (Futures)$199$50,00060%10%90 DaysVaries in PhasesFull refundHFT Allowed, News Trading Allowed
Executive (Futures)$299$100,00070%10%90 DaysVaries in PhasesFull refundHFT Allowed, News Trading Allowed
VIP (Futures)$599$250,00080%10%90 DaysVaries in PhasesFull refundHFT Allowed, News Trading Allowed

Note: Please verify the details with The Trading Pit website or customer service. The featuresmay vary and are subject to change.

What are the Experiences of Other Traders?

The online reputation of The Trading Pit, while still evolving due to its relatively recent entry into the trading sector, seems to be trending positively overall, particularly on review platforms like Trustpilot, and it’s generating vibrant discussions on social media sites like Reddit.

Trustpilot Feedback

On Trustpilot, The Trading Pit has an impressive score of 4.8 out of 5, based on 133 reviews. This rating suggests that the majority of traders have had a positive experience with the company and its trading programs. However, given the limited number of reviews and its recent market entry, it’s crucial to monitor future reviews to confirm this promising start.

Reddit and Social Media Feedback

Over on Reddit and other social media platforms, the feedback varies, with some traders expressing concerns. The profit split offered by The Trading Pit has been criticized for being on the lower end when compared to other proprietary trading firms. This aspect could discourage traders looking for more generous profit-sharing models.

Another common criticism involves the drawdown limits, which some traders find too small. This restriction has been reported to make it challenging for traders to pass the company’s trading challenges and earn a profit, especially for those who employ high-risk strategies or those who experience occasional significant losses.

Overall Consensus

While The Trading Pit has demonstrated promising potential with a high Trustpilot score, it must address the concerns raised by its users about profit splits and drawdown limits to ensure continued growth and success in the sector. It’s noteworthy that it has already built a reasonable reputation in a short period. Still, user feedback indicates there are areas where improvements could make The Trading Pit even more competitive.

247trading Final Impressions on The Trading Pit

Based on my comprehensive analysis of The Trading Pit’s offerings, they do have the potential as a valuable platform for both novice and experienced traders. It provides a well-structured system for traders to prove their skills and earn from the financial markets without risking their capital. This feature alone sets it apart as a worthwhile venture for those looking to break into the competitive world of trading.

The platform’s structure is clear, transparent, and user-friendly. Its step-by-step model is designed to ease a trader into the world of professional trading. From signing up to scaling up to a $5M account, each step is clearly laid out. The company’s customizable challenges, diverse asset options, multi-leverage possibilities, and impressive profit shares ranging from 50% up to 80% enhance its attractiveness.

However, The Trading Pit isn’t without areas that require improvement. According to some users’ feedback, the drawdown limits might be too stringent for some trading styles, potentially making it harder to pass the challenges. Additionally, the profit-split model could be seen as less competitive compared to some other proprietary trading firms. Addressing these concerns could increase the program’s appeal for potential traders.

The company’s rating on Trustpilot is excellent, standing at 4.8 out of 5 from 133 reviews, signaling the positive experiences many traders have had. On social media platforms like Reddit, views are more mixed, highlighting the aspects I’ve mentioned above. Nonetheless, in a relatively short period, The Trading Pit has managed to create a positive overall impression, suggesting that it’s generally performing well.

When compared with other funded trader programs, The Trading Pit holds its ground. It may not offer the highest profit split or the most relaxed drawdown limits, but its approach, transparency, and user-friendly and flexible structure make it a worthy consideration for those looking to become funded traders. It provides an environment where trading skills can be honed, and its progressive scale-up model promises an exciting prospect for consistent performers.

While it may not be the ideal choice for everyone, The Trading Pit provides a unique platform where traders can grow and achieve their potential. It is worth considering for those who want to trade on a funded account without significant financial risk. I recommend it for its structured and flexible programs and potential for scalability.

Commonly Asked Questions about The Trading Pit

These FAQs encompass the most common inquiries regarding The Trading Pit, its programs, costs, benefits, drawbacks, and more. If you're considering The Trading Pit as a trading platform, these answers might help clarify your understanding and decision-making.

Q1: What is The Trading Pit?

A1: The Trading Pit is a proprietary trading firm that offers funded trader programs. This means they provide the capital for traders to use, which can range from $25,000 to $5,000,000, depending on the chosen program.

Q2: What is the cost of the Lite plan for the CFD Challenge?

A2: The cost of the Lite plan for the CFD Challenge is $90.

Q3: How much is the profit target for the VIP plan in the Futures Challenge?

A3: For the VIP plan in the Futures Challenge, the profit target is $10,000.

Q4: How long is the evaluation period for the programs

A4: The evaluation period is 6 months, regardless of the plan chosen.

Q5: Is there a money-back guarantee offered by The Trading Pit?

A5: Yes, The Trading Pit offers a money-back guarantee on their trading programs.

Q6: What is the maximum drawdown allowed in the Executive Plan for the CFD Challenge?

A6: The maximum drawdown allowed in the Executive Plan for the CFD Challenge is $750.

Q7: How is the profit sharing divided in The Trading Pit?

A7: Profit sharing at The Trading Pit varies by plan, ranging from 50% to 80% in the trader's favor.

Q8: Are there any specific trading rules that traders need to follow?

A8: Yes, traders need to adhere to The Trading Pit's trading rules to pass the evaluation.

Q9: How many contracts can a trader trade in the Lite Plan of the Futures Challenge?

A9: A trader can trade up to 2 contracts in the Lite Plan of the Futures Challenge.

Q10: Are the trading rules the same for the CFD Challenge and Futures Challenge?

A10: While the specific trading rules may vary between the two challenges, they generally follow the same principles.

Q11: What is the trading capital provided in the VIP Plan of the CFD Challenge?

A11: The VIP Plan of the CFD Challenge provides a trading capital of $100,000.

Q12: How much does the Executive plan cost for the Futures Challenge?

A12: The Executive plan for the Futures Challenge costs $550.

Q13: What's the funding provided for the Standard Plan in the Futures Challenge?

A13: The Standard Plan in the Futures Challenge provides a funding of $50,000.

Q14: Are there any additional fees apart from the initial cost?

A14: The initial cost covers the evaluation period. Any additional fees would be specified by The Trading Pit.

Q15: Is there a limit to the number of times a trader can attempt the challenge?

A15: The Trading Pit does not explicitly limit the number of attempts. However, each attempt would require a new subscription.

Q16: Can traders trade any asset in these programs?

A16: Traders are allowed to trade most of the major assets; however, there may be restrictions on some specific assets.

Q17: Are traders allowed to hold positions overnight?

A17: Yes, The Trading Pit allows traders to hold positions overnight.

Q18: Does The Trading Pit provide educational resources for its traders?

A18: Yes, The Trading Pit provides educational resources and support for its traders to help them succeed.

Q19: What platforms does The Trading Pit support for trading?

A19: The Trading Pit supports multiple trading platforms; however, traders are advised to check for the most updated information.

Q20: Can international traders participate in The Trading Pit's programs?

A20: Yes, The Trading Pit allows traders from around the world to participate in their programs.

The Trading Pit: A Review of its Funded Trader Programs (2024)
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