The Trading Pit Review 2024: Services, Fees & Commissions (2024)

IN-DEPTH ANALYSIS

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The Trading Pit Review 2024: Services, Fees & Commissions (1)

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The Trading Pit Review 2024: Services, Fees & Commissions (2)

Written By

G. Dautovic

Updated

July 26, 2023

Some or all of the products/services listed on this page are from our affiliate partners from which we receive commissions. This, however, does not influence the evaluations in our reviews. Learn more by reading our Advertiser Disclosure.

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

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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

The Trading Pit Review 2024: Services, Fees & Commissions (5) 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

The Trading Pit Review 2024: Services, Fees & Commissions (6) 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:

  1. Create an account by entering your name, phone number, email, and country of residence.
  2. 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.
  3. 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

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%

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 Review 2024: Services, Fees & Commissions (7)

The Trading Pit

Minimum Deposit:

Starts from $99

Fees:

None

Mobile app:

R/Trader

Trading props:

  • • CFDs
  • • Futures

The Trading Pit Review 2024: Services, Fees & Commissions (8)

DarwinexZero

Minimum Deposit:

$500

Fees:

$38/month

Mobile app:

Yes

Trading props:

  • • CFDs
  • • US Stocks
  • • Forex
  • • Indices
  • • Futures
  • • ETFs

The Trading Pit Review 2024: Services, Fees & Commissions (9)

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?

+

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.

The Trading Pit Review 2024: Services, Fees & Commissions (2024)

FAQs

The Trading Pit Review 2024: Services, Fees & Commissions? ›

The Trading Pit Minimum Investment and Pricing

How does trading pit work? ›

The pit is an area of a stock exchange reserved for traders buying and selling securities. Brokers in the pit buy and sell securities using the open outcry system, which combines vocal cues and hand signals. Electronic trading platforms have entirely replaced trading pits at most exchanges.

Is the trading pit regulated? ›

We have brought on board experts in capital markets law to ensure that The Trading Pit and its business models are lawfully and regulatory compliant! No objections were raised to our partnership models with prop traders and created with transparency for actual mutual growth!

Which prop firm has no time limit? ›

Prop Firms With No Time Limitations
Proprietary Trading FirmNo Time Limitation Requirement
MyFundedFX
PipFarm
RebelsFunding
Smart Prop Trader
36 more rows
Apr 2, 2024

How do I get a free funded trading account? ›

Join Free Funded Trading Challenges

These challenges typically involve trading simulated or live accounts with virtual funds provided by the platform. Traders who meet certain performance criteria during the challenge period may be offered funded accounts with real capital upon successful completion.

What is the 3 1 rule in trading? ›

To increase your chances of profitability, you want to trade when you have the potential to make 3 times more than you are risking. If you give yourself a 3:1 reward-to-risk ratio, you have a significantly greater chance of ending up profitable in the long run.

What is the 1 rule in trading? ›

The 1% risk rule is all about controlling the size of losses and keeping them to a fraction of the account. But doing this requires determining an exit point (the stop loss location), before the trade, and also establishing the proper position size so that if the stop loss is hit only 1% of the account is lost.

What country is the trading pit in? ›

Where are you located? Our headquarters are located in Liechtenstein. We also have offices in Spain and Cyprus along with team members helping expand our business in countries such as Brazil, Portugal, Italy, Germany, Vietnam, Malaysia, Russia, Poland, China and MENA region.

Which is the best forex signal provider? ›

Best Forex Signals Providers Reviewed
  • 1000pip Builder is currently the top forex signal in the market. ...
  • ForeSignal.com is one of the best options if you want free forex signals. ...
  • MQL5 is an online marketplace backed by MetaTrader 5 (MT5). ...
  • Pips Alert is a popular forex signals provider that also trades commodities.
Feb 29, 2024

Is trading the markets gambling? ›

Making some trades to appease social forces is not gambling in and of itself if people actually know what they are doing. However, entering into a financial transaction without a solid investment understanding is gambling. Such people lack the knowledge to exert control over the profitability of their choices.

Which prop firm has the lowest fees? ›

Best cheap forex prop firms
  • FTMO: evaluations starting at $399.
  • TopStepTrader: Challenges starting at $375.
  • T4tCapital: Flexible evaluation options starting at $299.
  • Funded Trading Plus: Starting at $25.
  • Earn2Trade: $99 Mini challenge.
  • True Trading Group: $49 evaluation with a $25,000 virtual account.
Feb 27, 2024

Which is the most trusted prop firm? ›

The most popular prop trading firms and funded programmes
  • Axi Select.
  • FTMO.
  • The Forex Funder.
  • E8 Markets.
  • True Forex Funds.
  • The 5%ers.
  • Funded Next.

Can you make a living trading for a prop firm? ›

Yes, as a funded trader with True Forex Funds, it is possible to make a living from prop trading firms. Proprietary trading firms, or prop firms, often provide traders with the opportunity to trade with the firm's capital, allowing them to access larger trading positions and potentially increase their profits.

Is there commission-free trading? ›

Commission-free trading, also called zero-commission trading, is offered by some discount. + read full definition brokers. You can buy and sell stocks or exchange-traded funds (ETFs) without paying a trading fee. Fees can impact your investment.

Is there a trading platform with no fees? ›

Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren't offered, and only taxable investment accounts are available. Still, if you're looking to limit costs or trade crypto, Robinhood is a solid choice.

What is the 50K prop firm challenge? ›

The $50K prop firm challenge is a unique opportunity provided by these firms to aspiring traders. In this challenge, traders are given a simulated account with $50,000 in virtual capital. The objective is to generate profits under specific rules and constraints set by the firm.

What is pit trading hours? ›

Glossary Terms » Pit Trading. Trading conducted within the normal hours of the NYMEX inside the open outcry pits. Pit hours are generally 9:45 a.m. to 3:10 p.m. ET for most contracts. With the advent of overnight or after hours trading on the ACCESS automated system, it has become necessary to identify pit trading.

How much money can I make as a day trader? ›

Day Trader Salary
Annual SalaryMonthly Pay
Top Earners$185,000$15,416
75th Percentile$105,500$8,791
Average$96,774$8,064
25th Percentile$56,500$4,708

Can you live off swing trading? ›

One of the main benefits of swing trading is that while it doesn't take much time, you can earn large profits for the time invested. This trading style can be anything you want it to be. If you are willing to dedicate yourself entirely to it, you can easily earn a living through swing trading alone.

Can you profit from spot trading? ›

Traders aim to profit from the price differences between buying and selling assets within a short period. Spot trading is commonly used by both individual traders and institutional investors to capitalize on market fluctuations and generate returns. Additionally, spot trading plays a crucial role in price discovery.

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