The Trading Pit Review - Empowering Traders to Financial Independence

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.

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.

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).

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.

The Trading Pit Supported Tools

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.

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.