The Trading Pit is an emerging name in the industry. With all the mishaps going on in the prop firm industry, their transparency drew me to them. With the motto “We Invest in Trading Talents,” they started their journey in 2022.
Hello, I am Richard Gibson, a senior trade analyst on MyForexReport. While researching underrated firms in the industry, I came across The Trading Pit. Their service, packaging, and regulatory mechanism all seemed too good to be true. So, I got one of their packages and tested it for myself. Today, I am going to share with you my month-long experience with them.
- Very transparent about policy, regulation and team
- Has MT4, MT5
- Scaling up to $5M
- You can trade Forex/CFDs and real Futures
- Unlimited Trading days
- Overnight and weekend holding expect Prime Futures products
- Offer different promotions from time to time
- Low leverage ( 1:50)
- No free trial
- Has minimum 3 and 5 trading days restriction
Last Updated on October 15, 2024 by Richard Gibson
The Background of The Trading Pit
The Trading Pit is a Liechtenstein-based prop firm Founded by Illimar Mattus and Co-Founder Christoph Radecker. It is part of The Trading Pit Group. Their vision is to make a new super system to change the way trading is done worldwide. Here, traders and buyers come together in a safe and reliable space. The Trading Pit is mainly owned by Pinorena Capital. This private equity company focuses on fintech and was started by Illimar Mattus ( also the founder of Trading Pit), an entrepreneur in the financial industry.
In May 2024, their Co-founder Christopher Redecker and former CEO Thomas Heyden moved in a new direction, leaving Illimar Mattus sole in charge of the team and Daniela Egli as the new CEO. Here is more background information about The Trading Pit
The Trading Pit Legal Information:
| Business Name | The Trading Pit AG |
| Company ID | FL-0002.688.743-6 |
| CEO | Daniela Egli |
| Company Type | Private Limited Company |
| Incorporation Date | 2021 |
| Capital Partner | Pinorena Capital |
| Jurisdiction | Liechtenstein |
| Register Court | Commercial Register Office of Justice of the Principality of Liechtenstein |
| Mailing Address | Heiligkreuz 6, 9490 Vaduz, Liechtenstein |
| Website Operator | The Trading Pit Challenge GmbH ( Reg number- FL-0002.693.417-1) |
The Trading Pit General Information:
| 👮Broker, Liquidity Provider | CFDs – Regulated Broker Future Trading – Rithmic |
| 🏢Headquarters | Heiligkreuz 6, 9490 Vaduz, Liechtenstein |
| 💲Minimum Deposit | $99 |
| 💰Account Currencies | USD |
| 🏦 Funding Models | Prime CFDs & Classic Futures – One-step and two-step evaluation; Classic CFDs and Prime Futures – One-step evaluation |
| 💸 Scale-Up Plan | Scale up when meeting requirements ( Up to 5 million) |
| 💻 Trading Platforms | MT4 and MT5 for CFD, ATAS, QUANTOWER, R/TRADER for Futures |
| 🛠 Instruments | Forex, Indices, Commodities, Crypto, Shares, Futures |
| ⚖ Leverage | Prime – 1:50, Classic – 1:30 |
| 🥂 Profit Share | Prime – 80%, Classic – up to 80% |
| 🎮 Free Trial | Not available |
| 📲 Mobile App | Not Available |
| ☎ Support | Services via Email, live chat, phone |
| 👍Discount Code | Get 15% OFF |
The Trading Pit Accounts and Pricing
The Trading Pit offers two kinds of trading challenges. One is CFDs, and the other is Future trading. Now, for those who don’t know, CFDs ( contracts for difference) let you profit from an asset’s price changes without actually owning the asset. You make money if the price moves in the direction you predicted. Future trading is an agreement between two parties to buy or sell an asset at a specific price on a future date. The value of the futures contract changes based on how likely it is that this agreed-upon trade will be profitable.
In short, CFDs let you bet on price movements, while futures involve a commitment to trade the asset at a future date.
CFDs Trading
In CFD trading, TTP offers Prime and Classic Products. Prime CFDs products have one-step and two-step evaluation before proceeding to the earning account within the scaling plan. Classic CFDs products only offer one-step evaluation. No other firm has this system, and I think it positively distinguishes The Trading Pit from other firms. I think traders who quickly want to jump into the actual trading phase would appreciate this. I, being one of those traders, got my Standard CFD challenge.
Prime and Classic CFDs products each have 4 types of challenges, including account balances of $10k, 20k, 50k, and 100k. The criteria to pass the evaluation phase are the same in every challenge type. For CFDs trading, The Trading Pit collaborated with regulated brokers that provide esteemed trading platforms to meet the demands of traders.
Prime CFDs Challenges, 1-Phase
TTP offers 4 types of account balances for 1-phase Prime CFDs products, including $10,000, $20,000, $50,000, and $100,000 account balances. The challenge fee for the $10K account balance is just $99, the $20K account balance is just $199, the $50K account balance is just $349, and the $100K account balance is $569. You can take your time to finish the evaluation, but you have to keep a few things in mind, like you have to trade a minimum of five days and maintain 4 % daily and 7 % maximum drawdown, depending on how many phases you choose.
Here is how things work in this challenge:
Prime Account Balance – $10K, 20K, 50K, 100K
| Profit Target | 10% |
| Maximum Drawdown | 7% |
| Daily Drawdown | 4% |
| Platforms | MT4,MT5 |
| Profit Split | 80% |
| Minimum Trading Day | 5 |
| Maximum Trading Day | Unlimited |
| Leverage | 50:1 |
| Price | $99, 199, 349, 569 |
Prime CFDs Challenges, 2-Phase
The conditions of the 2-Phase Prime challenges are the same as the 1-Phase challenges. The differences are that you will need to go through 2 phases of evaluation to pass the challenges, and the daily drawdown and max drawdown are higher compared to the 1-phase Prime challenge.
TTP offers four types of account balances for 2-phase Prime CFDs products: $10,000, $20,000, $50,000, and $100,000. The challenge fee for the $10K account balance is just $99, the $20K account balance is just $199, the $50K account balance is just $349, and the $100K account balance is just $569.
After contemplating a bit about which one I should go for, I chose the 2-Phase Prime challenge with a $20,000 account balance. I have been trading in it for 20 days or so and am pretty close to hitting the profit target. Here is a compilation of everything you need to know about :
The Trading Pit Review 2024 Details
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