The Trading Pit is a well-known prop trading firm from Liechtenstein.
But is The Trading Pit a scam?
No, it isn’t!
Our review and experience show that The Trading Pit is a safe proprietary trading firm.
Sign up with The Trading Pit now!
You can share your experiences with The Trading Pit within our comment section.
Table of Contents
Key Takeaways
- The Trading Pit is a legitimate prop firm with several awards from prestigious organizations. They have excellent ratings and customer reviews on Trustpilot
- The prop firm offers trading options for CFDs and Futures. It offers various challenges and scaling options to suit both novice and professional traders
- Our review of the Trading Pit gives you an overview of the firm’s features, programs, rules, costs, pros and cons
About The Trading Pit
The Trading Pit was founded in 2022 by Illimar Mattus with the goal of becoming a leader in the prop trading industry that will be known for trader support and innovation.
| Name | The Trading Pit |
|---|---|
| Website | www.thetradingpit.com |
| Company | The Trading Pit Challenge GmbH |
| Address | Heiligkreuz 6, 9490 Vaduz, Liechtenstein |
| CEO | Daniela Egli |
| Founder | Illimar Mattus |
| Founded | 2022 |
| Contact | Live Chat, Mail, Phone, Ticket System |
| [email protected] | |
| Phone Number | +423 (0)23 79000 |
| Starting Capital | 10,000€ to 200,000€ for CFDs, $20,000 to $250,000 for Futures |
| Profit Share | 50% to 80% for CFDs, 60% to 80% for Futures |
| Evaluation | at least 3 days |
| Fee | 99€ to 999€ for CFDs, 99€ to 599€ for Futures |
| Payment Methods | Credit Card, Apple Pay, Google Pay, Cryptocurrencies, giropay, Binance Pay, Perfect Money |
| Instruments | CFDs, Futures |
| Platform | ATAS, Rithmic, Quantower, Bookmap |
| Withdrawals | daily |
| Languages | English, German, Spanish, Italian, Polish, Malay, Chinese, Arabic, Portuguese, Vietnamese |
Their rapid growth shows they are on the right track. They have received many prestigious awards like:
- Trading Live: Most Visionary Prop Company 2023
- The Business Fame: Brand of the Year 2023
- World Business Outlook Awards: Most Transparent Prop Company Worldwide 2023
- FXDailyInfo, Forex Brokers Awards: Fastest Growing Prop Firm in Europe 2022
- International Business Magazine Awards: Most Trusted Prop Company in Europe 2022
- Global Brands Magazine: Best Futures Prop Company 2022
- International Business Magazine Awards: Best Fintech Startup Germany 2022
- World Business Outlook Awards: Most Modern Prop Trading Technology Liechtenstein 2022
The Trading Pit provides its services to 150+ countries worldwide. The prop firm’s leadership team includes Daniela Egli (CEO), Thomas Heyden (MD), Artem Lomakin (CTO), and Themis Christou (CMO).
Safety and Regulation
The Trading Pit AG is the parent holding company based in Vaduz, Liechtenstein. The Trading Pit Challenge GmbH and Champions GmbH are subsidiaries of the parent company. The Trading Pit Ltd is registered in Cyprus, an EU member state. The company also has a representative office in Madrid and plans to establish more regional offices.
They aren’t regulated. As they don’t handle client funds directly or execute trades on their behalf, The Trading Pit can’t be considered a brokerage company. So, they don’t have to undergo strict regulatory oversight from government agencies.
From our prop trading experience with the firm, we’ve found that they use standard encryption technologies to protect sensitive user data. They also use reputable third-party payment providers for Secure Payment Gateways.
Accepted Countries
Due to payment complications, they can’t provide services to Cuba, Iran, North Korea, Sudan, and Syria.
Also, their data provider, Rithmic, assesses risk independently and does not allow the opening of accounts in Myanmar, Bonaire, Sint Eustatius and Saba, Sint Maarten, Afghanistan, Libya, Palestine, Iraq, Somalia & Zimbabwe. CFD challenges are not offered to the residents of the USA and Canada. Here’s the list of the most important countries:
- Australia: Yes, registration is possible
- Canada: Yes, registration is possible (No CFD challenges)
- Ghana: Yes, registration is possible
- Hong Kong: Yes, registration is possible
- India: No, registration isn’t possible
- Ireland: Yes, registration is possible
- Kenya: No, registration isn’t possible
- New Zealand: Yes, registration is possible
- Nigeria: Yes, registration is possible
- Pakistan: Yes, registration is possible
- Philippines: Yes, registration is possible
- Singapore: Yes, registration is possible
- South Africa: Yes, registration is possible
- United Kingdom: Yes, registration is possible
- United States: Yes, registration is possible (No CFD challenges)
Evaluation Process
The evaluation challenge price starts at just €99. So, the barrier to entry is comparared to other prop trading firms low for traders. Also, if you manage to pass the challenge, you’ll be refunded the entire amount with your first payout.
Moreover, they also provide you with a trader certificate when you complete the challenge phase successfully. Experienced traders can choose a single-stage evaluation for CFD assets. To help you throughout the challenge phase, you’ll be given free access to their future trading platforms and educational resources.
They have maintained a low latency (minimal delays) for fast order execution. Also, their low transaction fees will help you keep the profit margin high.
Challenges at The Trading Pit
The trading pit offers traders a multi-tiered evaluation process so that individuals with different risk appetites can find the right option for them. We’ll go through all their programs here in detail:
First, you must choose whether to trade with Futures or CFDs. CFDs are also seperated once more into Classic, Prime 1-Step and Prime 2-Step.
From my experience at The Trading Pit, the CFD Classic accounts look as follows:
| Starting Capital | $10,000 | $20,000 | $50,000 | $100,000 |
|---|---|---|---|---|
| Profit Target | $1,000 | $2,000 | $5,000 | $10,000 |
| Maximum Daily Loss | $400 | $800 | $2,000 | $4,000 |
| Maximum Loss | $700 | $1,400 | $3,500 | $7,000 |
| Minimum Trading Days | 3 | 3 | 3 | 3 |
| One-Time Fee | €99 | €179 | €399 | €999 |
| Discount | Check now | Check now | Check now | Check now |
For the Prime 1-Step accounts you can choose between:
| Starting Capital | $10,000 | $20,000 | $50,000 | $100,000 |
|---|---|---|---|---|
| Profit Target | $1,000 | $2,000 | $5,000 | $10,000 |
| Maximum Daily Loss | $400 | $800 | $2,000 | $4,000 |
| Maximum Loss | $700 | $1,400 | $3,500 | $7,000 |
| Minimum Trading Days | 5 | 5 | 5 | 5 |
| One-Time Fee | €99 | €199 | €349 | €569 |
| Discount | Check now | Check now | Check now | Check now |
For the Prime 2-Step accounts you can choose between:
| Starting Capital | $10,000 | $20,000 | $50,000 | $100,000 |
|---|---|---|---|---|
| Profit Target | $800 | $1,600 | $4,000 | $8,000 |
| Maximum Daily Loss | $500 | $1,000 | $2,500 | $5,000 |
| Maximum Loss | $1,000 | $2,000 | $5,000 | $10,000 |
| Minimum Trading Days | 5 | 5 | 5 | 5 |
| One-Time Fee | €99 | €199 | €349 | €569 |
| Discount | Check now | Check now | Check now | Check now |
And you can choose between the following Futures accounts:
| Starting Capital | $20,000 (Lite) | $150,000 (Standard) | $150,000 (Executive) | $250,000 (VIP) |
|---|---|---|---|---|
| Profit Target | $1,000 | $5,000 | $3,000 | $3,000 |
| Maximum Daily Loss | $250 | – | $2,500 | $2,500 |
| Maximum Loss | $500 | $3,000 | $3,500 | $5,000 |
| Minimum Trading Days | 3 | 3 | 3 | 3 |
| One-Time Fee | €99 | €169 | €349 | €599 |
| Discount | Check now | Check now | Check now | Check now |
Trading Signal Partner
Once you have passed the evaluation test, you’ll be given a contract as a signal trading partner. You can start prop trading with the company’s capital now and will also get access to all advanced tools. If you continue to hit the profit targets, you’ll then get accepted into the Trading Pit champion program.
You can scale up your trading account to 5 million USD. You’ll also get to keep up to 80% of the profit you make. You can withdraw the profit share if you want.
The Trading Pit Scaling Plan
As a trader, the goal of the mail is to scale the account as much as possible. The scaling plan is available to all traders no matter what starting plan you choose. There are ten levels of progression. Success at each level unlocks the next, with more capital and a higher profit share.
Traders who choose the CFD path can ultimately manage €5 million at the top level. Meanwhile, future traders aim to increase the number of contracts, which can reach 100 contracts at the highest level.
Challenge Trading Rules
Here are the rules that you must follow:
- Profit Target
- Profit Split
- Trading Period
- Minimum Trading Days
- Maximum Daily Loss
- Maximum Loss
- Maximum Position Size
- Maximum Capital Allocation and Multiple Accounts
- Trading Types
- Leverage
- Trading Style
- Trading Hours
- News Trading
- Weekend and Overnight Trading
- Expert Advisor
- Copy Trading
Profit Target
The profit target for the CFD pathway in the challenge phase is 10% for Classic and Prime 1-Step and it is 8% and 5% for Prime 2-Step. For futures traders, the profit target ranges from 1.2-5%, depending on the starting capital.
After you’ve achieved the trading objectives and passed the challenges, you’ll need to maintain a profit target of 8-10% to scale up to the next level. They pay you your share of the profits after every level is completed. As each level starts with a higher capital base, your profit potential also increases.
Profit Split
For Prime-Accounts (both 1-Step and 2-Step) the profit split is 80%.
For the other accounts we preparend an overview of the profit split at The Trading Pit:
Profit split percentage ranges for CFD programs:
| Tier | Profit Share Range |
|---|---|
| $10,000 | 50% to 70% |
| $20,000 | 50% to 70% |
| $50,000 | 60% to 80% |
| $100,000 | 60% to 80% |
Profit split percentage ranges for Futures programs:
| Tier | Profit Share Range |
|---|---|
| $20,000 (Lite) | 60% to 70% |
| $150,000 (Standard) | 60% to 70% |
| $150,000 (Executive) | 60% to 80% |
| $250,000 (VIP) | 70% to 80% |
Trading Period
For CFD challenges, you can trade for as long as necessary to reach the profit target. However, the account can’t be inactive for more than 20 consecutive days. On the 21st day of non-activity, they will close your account.
For future challenges, the trading duration can be 30, 60, or 90 days, depending on the type of account you have. However, there’s an option to buy additional trading days with a fee.
Minimum Trading Days
The minimum trade days are 3, which is a very small window and ideal for skilled traders who can quickly achieve the profit target and move on to the next level.
Maximum Daily Loss
The maximum daily loss is the maximum amount of money you can lose within a trading day. It’s 5% for all the accounts.
If your equity drops below your Drawdown limit, they will automatically disable your demo account. At 16:00 CT each day, they recalculate your limit based on your previous day’s closing account balance (equity) minus the daily drawdown amount.
Maximum Loss
From our experiments with the product, the maximum loss is generally 10% for the programs.
Maximum Position Size
For CFD, that depends on your capital.
And for Future traders the maximum size depends on the number of contracts as it will grow as you increase the number of contracts.
Maximum Capital Allocation and Multiple Accounts
You can buy as many accounts as you want if you use the same email ID for registration. However, you can’t trade using the same strategy in multiple CFD challenge accounts.
For the future challenge accounts, you can copy the same strategy in up to 5 accounts. Also, you can only have one active CFD account in the Scaling Plan at a time. If you pass more CFD challenges while your scaling CFD account is active, those will remain pending until the current account is breached.
The maximum capital depends on the type of CFD account:
- $10,000: Up to €500,000
- $20,000: Up to €750,000
- $50,000: Up to €1 million
- $100,000: Up to €5 million
Trading Types
The prop firm allows multi-asset trading, including crypto and forex trading.
CFDs allow you to trade with a variety of trading instruments, including Forex, commodities, indices, cryptocurrencies, and stocks. With Futures, you can trade contracts based on major global stock market indices.
Leverage
They offer below leverage on all CFD accounts:
- FX Currency Pairs: 1:30
- Indices: 1:10
- Commodities: 1:10
- CFDs on Stocks: 1:2
- CFDs on Cryptos: 1:2
Trading Style
You can use whatever trading style you want. They haven’t placed any restrictions on trading strategies except high-frequency trading, which isn’t allowed with CFD accounts. However, it’s allowed in Futures.
Trading Hours
The prop firm supports instruments listed on both CME and Eurex. Each exchange has its own hours.
- CME: Open Monday-Friday, 5:00 PM – 3:10 PM CT (Closed 3:10 PM – 5:00 PM CT)
- Eurex: Open Monday-Friday, 1:10 AM – 10:00 PM CET (Closed 10:00 PM – 1:10 AM CET)
All markets are closed on weekends.
News Trading
The Trading Pit prohibits any trades or pending orders set within 2 minutes before or after a major news event. Pending orders before or after the 2 minutes are allowed. Also, orders placed before the news can be closed during the news release.
Weekend and Overnight Trading
They allow overnight trading during the week. However, Trading Pit does not offer the option to keep your positions open overnight for the weekend.
Expert Advisor
Yes, Expert advisors are allowed, although with some conditions. The trading conditions are:
- The EA can’t copy trades from someone else’s strategy
- Extremely short-term trades (held less than 1 minute) are not allowed.
- EA can’t exploit price differences across markets or through latency advantages
- The use of emulators that simulate a real trading environment is prohibited
You won’t receive an upgrade or a payout if you use EAs that engage in these activities. Also, your challenge fee won’t be refunded either.
Copy Trading
Copy trading is allowed, but there are some serious restrictions. You can copy the same strategy across up to 5 challenge accounts. If you do more than that, you’ll be disqualified. You can’t copy the same trades across multiple CFD accounts.
Trading Platforms
Here are the prop trading platforms available to you:
- Atas: Atas is the ideal solution for data-focused traders. It does a great job of crunching all the market transactions and giving you the big picture. It’s very useful for identifying market trends and patterns early.
- Rithmic: After working with the Trading Pit, we’ve found that Rithmic offers the fastest transaction speed and a seamless and efficient trading experience. The R|Trader allows you to control your risk strategically.
- Quantower: This platform is very customizable and lets you trade a wide range of assets, from stocks to crypto. Its open API and Visual Studio connection give you greater freedom if you can code.
Trading Instruments
The Trading Pit is an excellent choice for traders as it offers a huge number of trading instruments, and a good portion of them are commission-free. Here’s the list:
- Indices: SPX500, NAS100, Volatility Index Future, Switzerland 20 Cash Index, Dow Jones 30, Euro 50 Cash index, JPN225, Hong Kong, India 50 Future, US Small Cap 2000 Future,
- Forex/Foreign Exchange: Euro vs. Great Britain Pound, Euro vs US Dollar, Euro vs. Japanese Yen, Swiss Frank vs. Polish Zloty, US Dollar vs. Canadian Dollar, Great Britain Pound vs. US Dollar
- Cryptocurrencies: Bitcoin vs USD, Litecoin vs. USD, EOS vs. USD, Bitcoin cash vs. USD, Stellar vs. USD, Ripple vs. USD, Ethereum vs. USD, DogeCoin vs USD, Chainlink vs USD
- Commodities: London Coffee Futures, US Sugar Futures, West Texas Intermediate Crude Oil Futures, NGAS Futures, London Cocoa Futures, Corn Futures, Crude Oil Brent Cash
- Metals: Silver vs. Euro, Gold vs. Euro, Platinum vs. US Dollar, Silver Future, Gold Future, Gold vs. US Dollar, Silver vs. US Dollar, Palladium vs. US Dollar, Copper
- Stocks: Adidas Salomon, Tesla Motors, Coca Cola, Amazon Com, Facebook, BNP Paribas, DT Lufthansa, Daimler AG, Mc Donalds, Jp Morgan Chase, Commerzbank AG
- Bonds: UK Long Gilt Futures, EURO Schatz Future, Euro Bund Futures, EURIBOR Future, US 10yr T-Note, EURO Bobl Future
We listed The Trading Pit in the Top 5 Prop Trading Firms, in the Top 3 Forex Prop Trading Firms, in the Top 3 Prop Trading Firms without Evaluation and in the Top 3 Futures Prop Trading Firms.
Brokers
The trading pit works with FxFlat Bank AG and GBE Brokers. Both have a good reputation in the market and have the trust of the traders.
Other Products
They offer free educational content like eBooks, webinars, and blog articles, which are better than any trading course. Their website also features infographics and press releases.
In addition to free educational resources, they offer some other tools for traders to enhance their trading skills and become successful traders.
LiveSquawk
It offers updates and commentary to keep traders informed about market movements as they happen. It delivers the updates in both audio and text format. The language used is English.
StereoTrader
It’s a great help for traders who need more advanced tools than the standard MT4/5 interfaces. The tool allows you to do remote trading, day trading, charting, noise trading, intraday swings, algorithmic trading, and scalping.
It also gives you a peek into the market’s current supply and demand dynamics. The interface can easily be customized. The tool also supports EAs and custom scripts.
Economic Calendar
The economic calendar will inform you about the upcoming macroeconomic events and their potential impact on the financial markets to prepare you for the situation. It can help you track important economic releases and news.
Open Interest Heatmap
The CME Group’s Open Interest Heatmap can help you understand the market sentiment and where big money flows in the options market.
Prices and Challenge Fees
To enter the challenge, you’ll need to pay a fee, the minimum amount being €99. You can also increase the trading duration by paying a fee. If you want to start fresh, you can purchase the reset option to start trading from the base capital again. Here are the price tables for both CFDs and Futures.
CFD Prime 1-Step and 2-Step:
| Capital | Classic | Prime 1-Step | Prime 1-Step |
|---|---|---|---|
| $10,000 | €99 | €99 | €99 |
| $20,000 | €179 | €199 | €199 |
| $50,000 | €399 | €349 | €349 |
| $100,000 | €999 | €569 | €569 |
Futures:
| Capital | Price |
|---|---|
| $20,000 (Lite) | €199 |
| $150,000 (Standard) | €169 |
| $150,000 (Executive) | €349 |
| $250,000 (VIP) | €599 |
Payment Methods and Payout System
The preferred payment method is cryptocurrencies via Binance Pay. However, you can also pay in euros through traditional methods like Visa, Mastercard, Apple Pay, Google Pay, Giropay, Perfect Money, and bank payment.
You can request withdrawals once a week. The payout is always deposited in your account on Friday. You also have the option to receive payouts through cryptos.
Registration and KYC
The registration process is quite easy. I’ve explained the process to you below:
- Click the “Login” button in the top right corner of The Trading Pit website.
- Fill out the short registration form with your name, email, phone number, and other basic details.
- Agree to the terms and conditions by ticking the checkbox at the bottom of the form.
- If you want, you can subscribe to their newsletter (optional).
- Click the “Create Account” button.
- Choose the trading challenge that suits you and get started!
KYC verification isn’t required to participate in the challenge. However, once you become a signal partner and eligible for first payouts, you’ll need to provide your details and verify your identity.
You’ll need to provide a government-issued ID like a passport, driver’s license, or national ID card. A recent utility bill, bank statement, or an official government document with your name and address will suffice for proof of address. You can also sign up as a business. You’ll need documents for the company’s legal registration and authorization proof, such as a power of attorney.
Discount and Promo Code
They have not introduced any promotional programs since they’ve been doing pretty well. So, currently, no promo code or discount is available.
Free Trial and Demo Account
From my experience, there’s no free trial. You have to pay for the demo account, which allows you to participate in the challenge and trade with virtual money.
Mobile App
There’s no mobile app for trading. However, you can access the website and trade via your mobile browser.
Customer Service and Support
The website is available in German, English, Spanish, Italian, Polish, Malaysian, Indonesian, Chinese, Arabic, Portuguese, Vietnamese, and Czech. Customer support is available in the same languages as well.
From our own experience as trading pit customer, we can assure you that the support agents are user-friendly and knowledgeable about the trading topics.
Apart from live chat, you can also reach them through email, contact form on the website, and telephone.
Taxes
Drawing from our experience, this proprietary trading firm doesn’t take responsibility for your taxes. You have to pay taxes on your income according to the laws of your own country. Learn more in our dedicated guide about “Prop Trading Taxes“.
Alternatives to The Trading Pit
Here are the top 3 alternatives to the Trading Pit.
FTMO
FTMO has a lot of similarities with the trading pit as both require evaluation and offer numerous free trading tools and educational resources for the trader. The 90/10 profit split is very generous and makes it easy to turn trading into a profitable venture.
The Funded Trader
The evaluation phase can be pretty quick at The Funded Trader, and you might even get the funded account within a day. You can take 80-90% of the profit share home. The trading rules are quite flexible as well.
Apex Trader Funding
With Apex Trader, you can take 100% of the first 25k USD profit. Then, it will be a 90/10 split. You can also reset your challenge with a fee.
Conclusion
From our own trading experience, we found The Trading Pit to be a legit and trustworthy prop trading firm. Their collection of prestigious awards and glowing reviews from other traders makes them a credible choice for prop traders to start their trading careers with.
Sign up with The Trading Pit now!
Their packages offer a wide range of challenges that appeal to traders with different skill levels and risk tolerances. They also place a huge focus on security and use reputed payment providers. From our experience, Trading Pit is the best prop firm for novice traders and a very good option for professionals as well.
Frequently Asked Questions
Here, we’ve tried to answer the most commonly asked questions about the Trading Pit.
Is The Trading Pit legit or a scam?
The Trading Pit is legitimate and has a very good reputation in the market. It has also won multiple awards and is seen as one of the most credible firms out there. There has been no instance of fraud associated with the trading firm. Learn more about the firm in the “About the Trading Pit” section.
Is The Trading Pit regulated?
No, The Trading Pit is not regulated as it doesn’t handle clients’ money and trade with the company’s money. More information can be found in the “Safety and Regulation” section.
What is The Trading Pit?
The Trading Pit is a prop trading firm that allows you to trade with CFDs and Futures. Learn more in the “About the Trading Pit” section.
Which broker does The Trading Pit work with?
The prop firm has been a long-time partner of FxFlat Bank AG and GBE Brokers. Learn more details in the “Brokers” section.
How many The Trading Pit accounts can I have?
You can use multiple accounts as long as they are registered under one email. However, only one scaled CFD account can be used at a time. Learn more in the “Challenge Trading Rules” section.
Where is The Trading Pit based?
Their main holding company, Trading Pit AG, is based in Vaduz, Liechtenstein, and they’ve got a couple of other offices there, too. They also have a branch in Cyprus and an independent office operating in Spain. You can read more about the companies under “About the Trading Pit”.
Does The Trading Pit allow an Expert Advisor or Copy Trading?
Expert Advisors (EAs) are allowed but with certain strict conditions. Copy trading is only partially permitted. You can find out more about this in the “Copy Trading” and “Expert Advisors” section.
Is The Trading Pit legal in the US?
Yes, The Trading Pit is completely legal in the US in addition to hundreds of other countries. Learn more under “Accepted Countries”.
How long has The Trading Pit been around?
The Trading Pit AG has been around for more than two years, but it has achieved a significant reputation in such a short time due to its excellent service. Learn more in the “About the Trading Pit” section.
How much does The Trading Pit cost?
The cheapest account requires a minimum payment of €99, and the maximum is €999. The challenge fees are refundable if you pass the challenge test. Learn more in “Prices and Challenge Fees”.
How often does The Trading Pit payout?
You can withdraw profit once a week, always on Fridays. You can receive your payouts via bank transfer or crypto. Read more in our “Payment Methods and Payout System” section.
Having more than eight years of trading experience, I know how hard it is to find a good and reliable Prop Trading Firm and not to choose the wrong one. With PropTradingScam.com I want to help you to pick the right one, stay safe, and share your experience.
