17. The Trading Pit

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17. The Trading Pit

17. The Trading Pit

  • Scaling plan up to $5,000,000
  • Wide range of available trading instruments
  • Low minimum trading day requirements of 3 days
  • Overnight and weekend holding allowed
  • News trading is allowed
  • Low starting profit share of 50% or 60%
  • Consistency rule
  • Trailing drawdown once funded

The Trading Pit aims to set a new global standard in trading and investing by providing traders with the necessary knowledge and tools to become successful partners. To qualify as a funded trader, you are required to pass a challenge that assesses your trading skills and discipline. Upon successfully completing the challenge, you become eligible for a profit split on your future payouts ranging from 50% up to 80%. The Trading Pit prioritizes equipping traders with the essential resources and expertise to thrive in the industry and establish fruitful partnerships with the firm.

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Who are The Trading Pit?

The Trading Pit is a proprietary trading firm with its headquarters in Lichtenstein and additional offices in Cyprus, Spain, and Canada. They also have representatives in various countries including Germany, Italy, Egypt, China, Vietnam, and Uruguay. The firm offers motivated traders the opportunity to trade with account sizes ranging up to $100,000, with a scaling plan that extends up to $5,000,000. Traders can earn a profit split ranging from 50% up to 80% based on their performance.

The Trading Pit has integrated its technology with two brokers, namely FXFlat and GBE Brokers, and they are actively seeking to expand their list of broker partnerships. The company operates under the official name The Trading Pit Challenge GmbH, and it is a registered entity with the registration number FL-0002.693.417-1. The Trading Pit Challenge GmbH has been in operation since May 2021.

Who is the CEO of The Trading Pit?

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Thomas Heyden is the CEO of The Trading Pit

Funding program options

Traders at The Trading Pit can select from the following four one-step challenge accounts.

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The Trading Pit offers a one-step CFD challenge account designed to identify skilled and committed traders who demonstrate consistency during the evaluation phase. This program allows traders to utilize 1:30 leverage.

During the evaluation phase, traders are required to achieve a profit target of 10%, except for the $100k account size where the target is 8%. It is important to stay within the 5% maximum daily loss and 10% maximum overall loss limits. Please note that the $10,000 and $20,000 account sizes have a trailing drawdown, while the $50,000 and $100,000 accounts have a static drawdown. The evaluation phase must be completed within a maximum trading period of 90 calendar days. Additionally, a minimum of three trading days is required to proceed to a funded account.

Upon successfully completing the one-step challenge, traders receive a funded account with an 8% or 10% profit target, depending on the account size. Traders must adhere to the 5% maximum daily loss limit, and the maximum drawdown is now governed by a 10% maximum trailing loss rule. When the 10% profit target is reached, traders can request their initial profit split of 50% or 60%, depending on their account size. This achievement also allows for account scaling to the next level. Subsequent payouts can be requested upon reaching the next 10% profit target. Future payouts will be subject to a profit split ranging from 50% to 80%, determined by the initial account size and the current account level.

One-step challenge account scaling plan

The one-step challenge account offered by The Trading Pit includes a scaling plan based on your initial account balance. The profit target for scaling ranges from 8% to 10%, depending on the size of your account. The scaling plan allows for account balances to increase from $500,000 up to $5,000,000, depending on the chosen account size.

Below, you can find the scaling plan for the two-step challenge accounts:

Lite challenge account scaling plan

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Standard challenge account scaling plan

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Executive challenge account scaling plan

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VIP challenge account scaling plan

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One-step challenge account rules

  • The profit target represents a predetermined percentage of profit that traders must achieve in order to successfully complete an evaluation phase, withdraw their profits, or increase their account balance. In the case of the one-step challenge, the profit target is set at either 10% or 8%, depending on the size of the account. For funded accounts, the profit target remains at 8% or 10% to enable profit withdrawals and account balance scaling, which is determined by the initial account size.

  • The maximum daily loss refers to the highest allowable amount of loss that a trader can incur within a single day before their account becomes compromised. For all account sizes, the maximum daily loss is set at 5%, meaning that traders must ensure their losses do not exceed this threshold during each trading day.

  • The maximum loss represents the highest acceptable level of overall loss that a trader can reach before their account is considered violated. For all account sizes, including during the evaluation phase, the maximum loss is set at 10%. It's important to note that this limit applies to the cumulative loss incurred throughout the evaluation phase, and exceeding this threshold would result in the account being considered in violation.

  • The maximum trailing drawdown represents the maximum decline in the account balance from the highest point reached to the lowest point, taking into account subsequent recoveries. Upon reaching funded status, all account sizes have a maximum trailing drawdown of 10%. However, it's important to note that during the evaluation phase, the $10,000 and $20,000 account sizes also have a trailing drawdown feature.

  • The minimum trading days refer to the minimum duration for which you must actively trade before completing an evaluation phase or making a withdrawal request. In the case of the evaluation phase, there is a requirement of a minimum of 3 trading days.

  • The maximum trading days represent the upper limit of the time period within which you need to achieve a particular profit target or withdrawal target. During the evaluation phase, there is a maximum trading period of 90 trading days.

  • The consistency rule is an important requirement that mandates traders to maintain consistent position sizes, risk management, losses, gains, and other account-related aspects. It emphasizes the need for stable and predictable trading outcomes, where significant deviations are discouraged. Specifically, traders are not permitted to exceed 30% of the profit target within a single trading day.

  • The prohibition of copy trading signifies that traders are strictly prohibited from utilizing any form of copy trading services.

Upgrade options for your two-step challenge account

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  1. The reset option allows you to restart your challenge at a discounted price. When you choose to reset, a new account will be opened with the remaining days of the challenge. For instance, if you decide to reset your account five days after the initial purchase, your new account will begin with the remaining 85 days. There are no limitations on the number of resets you can request. In the event of an account violation, you will receive an email containing a unique link that enables you to reset and resume your challenge.

  2. The extend option grants you the opportunity to purchase an extension. If, for example, you have three days remaining until the challenge ends, you can choose to extend your trading period by an additional 90 calendar days.

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

The Trading Pit stands out from other industry-leading prop firms by offering a unique one-step evaluation challenge that comes with more relaxed trading rules. Traders have the flexibility to hold trades overnight and over the weekend, and they are also allowed to trade news releases and use pending orders. However, it's important to note that The Trading Pit has a consistency rule in place during the evaluation phase. This rule limits the daily profit generated to a maximum of 30% of the profit target.

To adhere to the consistency rule, traders can employ strategies such as setting profit limits and securing partial profits on positions that exceed the 30% threshold. This rule promotes consistent trading practices, enabling a more accurate assessment of trader performance and the refinement of trading strategies.

The one-step challenge offered by The Trading Pit consists of a single phase that traders must complete to become eligible for payouts. The profit target for the evaluation phase ranges from 8% to 10%, depending on the initial account size being traded. There are also maximum daily loss and maximum overall loss rules set at 5% and 10% respectively, which apply during the evaluation phase. It's worth mentioning that different account sizes have varying drawdown rules, with trailing drawdown for $10,000 and $20,000 accounts, and static drawdown for $50,000 and $100,000 accounts.

Traders are required to complete the evaluation phase within a 90-calendar-day period, with a minimum of three trading days. Successful completion of the evaluation phase leads to funding, at which point there is no specific time limit for the profit target. Once the profit target is achieved, traders can request a withdrawal and also have the opportunity to scale their account to the next level. It's important to note that the maximum drawdown will continue to be trailing for all account sizes. Additionally, the one-step challenge account comes with a scaling plan. When compared to other industry-leading prop firms, The Trading Pit has average drawdown limitations and relatively low minimum trading day requirements.

In conclusion, The Trading Pit differentiates itself from other industry-leading prop firms through its relaxed trading rules. Traders are afforded the freedom to trade news releases and hold trades overnight and over the weekend. However, the consistency rule, which limits daily profit generation to 30% of the profit target, plays a vital role in promoting consistent trading practices and facilitating accurate assessment of trader performance and strategy refinement.

Is getting The Trading Pit capital realistic?

When searching for prop firms that align with your forex trading style, it is crucial to assess the realism of their trading requirements. While a company may offer a high percentage profit split on a well-funded account, it is essential to consider whether they expect excessively high monthly gains with low maximum drawdown percentages. Unrealistic expectations can significantly diminish your chances of success.

The Trading Pit's one-step challenge account provides a realistic path to receive funding. They have set average profit targets of 8% or 10% (depending on the account size) and maintain average maximum loss rules of 5% maximum daily loss and 10% maximum overall loss. However, it's important to note that for $10,000 and $20,000 evaluation accounts, as well as all funded account sizes, the maximum loss limit is trailing. Furthermore, once you achieve funded status, you will need to reach a profit target of 8% or 10% (based on your account size) to be eligible for withdrawal requests and account balance scaling.

Considering these factors, The Trading Pit presents an excellent choice for securing funding. Their range of one-step challenge accounts offers realistic trading objectives and payout conditions that traders can confidently adhere to.

Which broker does The Trading Pit use?

The Trading Pit provides traders with the option to trade through two reputable brokers: FXFlat and GBE Brokers. FXFlat is a highly regarded online brokerage known for its reliability and adherence to high standards. With its headquarters in Germany, it initially established itself as a CFD and Forex broker and has since expanded its offerings to encompass a wide range of asset classes and financial instruments. Traders can rely on FXFlat's expertise and commitment to providing a top-notch trading experience.

On the other hand, GBE Brokers is a regulated CFD broker that operates out of Hamburg, Germany. Their team comprises professionals from diverse cultural backgrounds, bringing with them extensive experience in banking and the financial markets. This multicultural approach allows traders to benefit from a wealth of international expertise. GBE Brokers offers a range of trading platforms, including MetaTrader 4 and MetaTrader 5, enabling traders to choose the platform that best suits their needs and preferences.

Trading instruments

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Traders’ Comments about The Trading Pit

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To summarize, The Trading Pit is a legitimate proprietary trading firm that provides traders with the option to choose from various one-step challenge accounts of different sizes.

The one-step challenge account is a single-phase evaluation process that must be completed before becoming funded and eligible for profit splits. The Trading Pit sets realistic trading objectives for the evaluation phase, requiring traders to achieve profit targets of 8% or 10% based on their initial account size. These objectives are attainable considering the maximum daily drawdown of 5% and maximum loss rules of 10% applied during the evaluation phase. It's important to note that trailing drawdown is applicable to $10,000 and $20,000 account sizes during evaluation, while static drawdown applies to $50,000 and $100,000 accounts. Once funded, all account sizes have trailing drawdown. With the one-step challenge account, traders can earn profit splits ranging from 60% to 80% and have the opportunity to scale their accounts.

If you are seeking a prop firm with straightforward and relaxed trading rules, I highly recommend The Trading Pit. They offer an appealing one-step challenge program with favorable conditions suitable for a wide range of traders with different styles. Taking everything into consideration, The Trading Pit stands out as an attractive choice among proprietary trading firms.