“The Trading Pit: Unleashing Strategies for Financial Success”

The Trading Pit aims to establish itself as the leading global benchmark in the field of trading and investing. The organization empowers traders by providing them with essential knowledge and tools to become esteemed associates of the firm. Prospective traders seeking funding are required to undergo a rigorous challenge to showcase their trading acumen and self-discipline. Upon accomplishing the challenge successfully, participants are eligible for a profit split ranging from 50% up to 80% on their forthcoming payouts.

Who are The Trading Pit?

The Trading Pit is a privately owned company with its headquarters located in Lichtenstein and additional offices in Cyprus, Spain, and Canada. Moreover, they maintain a presence in various countries such as Germany, Italy, Egypt, China, Vietnam, and Uruguay through their appointed representatives. The firm offers ambitious traders the opportunity to access account sizes ranging from $100,000 to $5,000,000, along with a profit sharing scheme that allocates between 50% and 80% of the earnings. They have successfully integrated their proprietary technology with two established brokers, namely FXFlat and GBE Brokers, and are actively exploring the inclusion of additional partners.

The company is duly registered as The Trading Pit Challenge GmbH, with a valid registration number: FL-0002.693.417-1.
The Trading Pit Challenge GmbH has now been operating since May 2021.

Their offices are located at an address, Landstrasse 63, 9490 Vaduz, Liechtenstein

Who’s the CEO of The Trading Pit?

Thomas Heyden, the CEO of The Trading Pit, possesses a robust academic background in finance, insurance, and capital market theory, acquired during his tenure at Johann-Wolfgang-Goethe University where he successfully completed his studies. Holding the esteemed title of a certified financial analyst, he has garnered substantial experience working with prominent German banks and international investment houses.

As an accomplished professional, Thomas has demonstrated his proficiency by launching and effectively managing multiple investment funds under his regulated firm. His notable achievements include receiving the esteemed German Fund Award in 2009 for his exceptional performance in managing an investment fund.

Furthermore, Thomas has played a pivotal role in mitigating commodity price risks for prominent German corporations and Europe’s largest public transport companies. His expertise in this domain has made him a highly sought-after speaker on topics related to commodity prices and foreign exchange risks, particularly for medium-sized businesses in Germany.

The founding program options

 The Trading Pit offers its traders the following four one-step challenge accounts to choose from.

One-step challenge program account:

The Trading Pit’s one-step CFD challenge account is designed to identify skilled and committed traders who demonstrate consistency during the evaluation period. Successful participants in the one-step challenge program can engage in trading with a leverage of 1:30.

During the evaluation phase, traders are required to achieve a profit target of 10%, except for those with a $100,000 account size, who must reach a profit target of 8%. It is important to adhere to the rules of not exceeding a maximum daily loss of 5% or a maximum loss of 10%. Please note that trailing drawdown applies to account sizes of $10,000 and $20,000, while static drawdown applies to $50,000 and $100,000 accounts. The evaluation phase must be completed within a maximum trading period of 90 calendar days. Additionally, traders must fulfill a minimum trading requirement of three days to qualify for a funded account.

Upon successful completion of the one-step challenge, traders will be rewarded with a funded account and assigned a profit target of either 8% or 10% depending on their initial account size. Traders must also observe a maximum daily loss limit of 5%, while their maximum drawdown is now governed by a trailing loss rule of 10%. Once the 10% profit target is reached, traders can request a profit split of 50% or 60% (depending on their account size) and use it to scale their account to the next level. It is important to note that subsequent payouts can only 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 trader’s initial account size and the current level of their trading account.

The one-step challenge account includes a scaling plan, which entails reaching an 8% or 10% profit target based on the trader’s initial account balance, depending on their account size. The scaling plan encompasses amounts ranging from $500,000 to $5,000,000, contingent upon the specific account size being traded. The scaling plan for two-step challenge accounts is provided below for reference.

– Lite challenge account scaling plan

– Standard challenge account scaling plan.

– Executive challenge account scaling plan.

– VIP challenge account scaling plan.

Trading instruments for the one-step challenge accounts are forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.

 One-step challenge account rules

• The profit target represents a predetermined percentage of profit that traders must achieve before they can successfully conclude an evaluation phase, withdraw profits, or expand their account. Depending on the account size, the one-step challenge entails meeting a profit target of either 10% or 8%. Similarly, funded accounts necessitate reaching an 8% or 10% profit target in order to facilitate profit withdrawal and account scaling, contingent upon the initial account size.
• The maximum daily loss denotes the highest permissible amount of loss a trader can incur within a single day before the account becomes compromised. For all account sizes, a maximum daily loss limit of 5% applies.
• The maximum loss signifies the utmost admissible loss a trader can incur overall before the account becomes compromised. During the evaluation phase, all account sizes are subject to a maximum loss cap of 10%.
• The maximum trailing drawdown indicates the highest allowable drawdown, which is determined by the disparity between the peak account balance attained and the maximum drawdown experienced. Upon achieving funded status, all account sizes are subject to a maximum trailing drawdown of 10%. It should be noted that account sizes of $10,000 and $20,000 also have a trailing drawdown requirement during the evaluation phase.
• The minimum trading days represent the minimum duration for which traders must engage in trading activities before they can successfully complete an evaluation phase or request a withdrawal. In the evaluation phase, a minimum of three trading days is required.
• The maximum trading days denote the upper limit of time within which traders must attain a specific profit target or withdrawal target. During the evaluation phase, a maximum trading period of 90 trading days is in effect.
• The consistency rule is a regulation that mandates traders to maintain consistent position sizes, employ risk management strategies, and experience consistent losses and gains, among other factors. This implies that the characteristics of account performance should not exhibit significant deviations. It is prohibited to exceed 30% of the profit target within a single trading day.
• The restriction on copy trading explicitly prohibits traders from utilizing any form of copy trading services.
• UPGRADE OPTIONS FOR THE TWO-STEP challenge ACCOUNT.

• Reset option: You have the opportunity to initiate a reset at a reduced cost. This will establish a new account with the remaining duration of the challenge. If you opt to reset your account five days after the initial purchase, your new account will commence with the remaining 85 days. There is no limitation on the number of resets you can obtain. However, in the event of an account breach, you will receive an email containing a unique link that will enable you to reset and resume the challenge.
• Extend option: You have the eligibility to purchase an extension. As an example, if you possess three days remaining until the conclusion of the challenge, you have the choice to prolong your trading period by an additional 90 calendar days.

What makes The Trading Pit different from other prop firms?

The Trading Pit distinguishes itself from other prominent proprietary firms by offering a unique one-step evaluation challenge accompanied by more flexible trading rules. Traders are allowed to hold positions overnight and over the weekend, as well as trade pending orders based on news releases. However, the firm imposes a consistency rule on the evaluation process, wherein daily profits are limited to 30% of the profit target. To comply with this rule, traders are encouraged to set profit limits and secure partial profits on positions exceeding 30% of the profit target. This rule fosters consistent trading practices, facilitates accurate assessment of trader performance, and enables the refinement of trading strategies.

The one-step challenge at The Trading Pit entails a single phase that traders must complete to qualify for payouts. Depending on the initial account size being traded, the profit target ranges from 8% to 10%, with daily maximum loss restrictions of 5% and maximum drawdown limitations of 10%. It’s important to note that accounts with $10,000 and $20,000 sizes have trailing drawdowns, while $50,000 and $100,000 accounts have static drawdowns. Traders are required to complete the evaluation phase within a 90-calendar-day period, fulfilling a minimum of three trading days before becoming funded. Once funded, there is no maximum time for achieving the profit target, and traders can request withdrawals and scale their accounts to the next level. Furthermore, all account sizes have trailing drawdown limitations. The one-step challenge account also includes a scaling plan. In comparison to other leading proprietary firms in the industry, The Trading Pit imposes relatively low minimum trading day requirements and maintains average drawdown limitations.

In summary, The Trading Pit stands out among industry-leading proprietary firms due to its relaxed trading rules. Traders are granted the freedom to engage in news trading, hold trades overnight and over the weekend. Nevertheless, the firm enforces a consistency rule that restricts daily profit generation to 30% of the profit target. This rule encourages consistent trading, facilitates accurate assessment of trader performance, and allows for the refinement of trading strategies.

Is getting The Trading Pit capital realistic?

When evaluating prop firms that align with your forex trading style, it is crucial to assess the feasibility of the trading requirements. While an offer from a company providing a high percentage profit split on a well-funded account may appear appealing, it is essential to consider the expectations of achieving high percentage gains per month while maintaining low percentage maximum drawdowns. Failing to meet these expectations would significantly diminish your likelihood of success.

Opting for capital from the one-step challenge account proves to be a realistic approach primarily due to its moderate profit targets (8% or 10% depending on the account size) and reasonable maximum loss rules (5% maximum daily and 10% maximum loss). Nevertheless, it is important to note that the maximum loss limit is trailing for evaluation accounts of $10,000 and $20,000, as well as all funded account sizes. Additionally, upon receiving funding, you must achieve a profit target of 8% or 10% (depending on your account size) to qualify for a withdrawal request and to scale your account balance.

Taking all these factors into consideration, The Trading Pit emerges as an outstanding option for securing funding. This is primarily due to its offering of one-step challenge accounts that feature realistic trading objectives and payout conditions for traders to adhere to.

Payment proof

The Trading Pit is a privately owned trading firm that was established in February 2022. Within The Trading Pit, traders have the opportunity to initiate a withdrawal once they attain funded status and meet their initial profit targets of 8% or 10%. This achievement enables them to receive a payout and allows for account scaling. The firm does not impose any time constraints on the profit targets once a trader becomes funded. Depending on the size of the account they are funded with and the level of scaling accomplished, traders are eligible for profit splits ranging from 50% to 80%.
You can see two examples of payment proof below:

Which brokers do The Trading Pit?

The Trading Pit uses FXFlat and GBE Brokers as their broker options.

FXFlat is a prominent online brokerage firm that serves as a liquidity provider, based in Germany. They prioritize delivering reliability and upholding high standards to traders. Initially established as a CFD and Forex broker, FXFlat has since diversified its offerings and now provides traders with a comprehensive range of asset classes and financial instruments.

GBE Brokers is a regulated CFD broker with a German office situated in the Port of Hamburg. They have assembled a dynamic and proficient team comprising individuals from diverse cultural backgrounds. This intentional multicultural composition enables traders to leverage the team’s extensive international banking and financial market expertise. 

As for trading platforms, they allow traders to choose between MetaTrader 4 and MetaTrader 5.

Trading instruments: 

The Trading Pit offers a large variety of trading Instruments. You are allowed to trade forex pairs, commodities, indices, bonds, stocks, and cryptocurrencies.
In addition, you can view the full list of available trading instruments, which also includes bonds, stocks, and cryptocurrencies

Trading fees

Education and support for traders

The Trading Pit provides numerous educational content.

Traders can receive access to the following: 

Multiple Trading Tools:

• StereoTrader (trading optimization software and highly customizable infrastructure providing ground-breaking solutions for manual and automated trading)
• Squawkbox (News, analysis & market commentary in real-time)
• Economic Calendar (global economic calendar where you will find all of the important market updates and upcoming events)

• CME Heatmap (Leverage the power of CME Group’s Open Interest Heatmap)

Webinars (The Trading Pit’s live webinars)

Educational videos (The Trading Pit’s educational videos)

Glossary (The Trading Pit’s glossary)

The Trading Pit provides a comprehensive FAQ page containing pertinent details regarding the firm. Should you require assistance, their support team is readily accessible through live chat, social media, and email (support@thetradingpit.com). Furthermore, you may directly contact them via telephone at +4986774014100. Additionally, their Discord channel serves as an additional avenue for connecting with the support team, who will be delighted to address any inquiries you may have.

Traders’ Comments about The Trading Pit

The Trading Pit has an excellent review from his community

On Trustpilot, they have numerous positive comments with excellent feedback from their community, with an excellent score of 4.8/5 out of 120 reviews.

A vast majority of The Trading Pit’s community praises their responsive and helpful customer support team, which we can also see in the comment above.

Social media statistics

The Trading Pit can also be found on social media.

They have a:

• Facebook page with 2,131 followers,
• Instagram profile with 788 followers
• Twitter account with 183 followers,
• LinkedIn profile with 1,841 followers,
• Youtube channel has 233 subscribers with 45 uploaded videos, and
• TikTok channel with 40 followers.

In addition, you can also join The Trading Pit’s Discord channel to talk with other members of their community.

Conclusion 

In conclusion, The Trading Pit is a reputable proprietary trading firm that provides traders with the opportunity to select from various one-step challenge accounts of different sizes.

The one-step challenge account represents a single-phase evaluation process that necessitates the successful completion of an evaluation phase before receiving funding and becoming eligible to receive a portion of the profits. To attain funding, The Trading Pit requires traders to achieve profit targets of either 10% or 8% during the evaluation phase, depending on the initial size of their account. These profit objectives are realistic, taking into account the 5% maximum daily drawdown and 10% maximum loss rules that apply in both evaluation phases. It is important to note that during the evaluation period, trailing drawdown is applicable for account sizes of $10,000 and $20,000, while static drawdown is applicable for $50,000 and $100,000 accounts. However, once a trader becomes funded, trailing drawdown is implemented for all account sizes. By participating in the one-step challenge account, traders can earn profit splits ranging from 60% to 80%, and also have the ability to scale their accounts.

I highly recommend The Trading Pit to individuals seeking a proprietary trading firm with lenient and transparent trading regulations. Their one-step challenge program offers favorable conditions for a diverse range of traders with distinct trading styles. After carefully considering the full range of benefits provided by The Trading Pit, it is evident that they are an appealing choice within the proprietary trading firm industry.