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The Trading Pit offers flexible funding options to dedicated prop traders thanks to its multiple evaluation or challenge accounts, including Lite, Standard, Executive and VIP. Each of these account types (challenge tiers) has its specific rules and profit targets that vary between the asset classes — futures and forex CFD. Here’s a breakdown of the four challenge tiers based on asset classes.
Forex CFDs
In each of the challenge tiers, forex traders can enjoy features such as overnight and weekend holding, a 100% one-time refundable entry fee, a 90-day timeframe to complete the evaluation, a 10% profit target (except for VIP, with a target of 8%), a minimum of three trading days, a maximum drawdown of 10% and a daily drawdown limit of 5% and leverage of 1:30. These features provide traders with flexibility, achievable targets and risk management parameters during the evaluation. Traders can choose between two reliable trading platforms, the cutting-edge MT5 and the user-friendly MT4, both hosted by FXFlat, a reputable online broker. These factors allow traders to select the platform that best suits their preferences and trading needs, ensuring a seamless and reliable trading experience.
The Lite account is the smallest account type, with a starting balance of $10,000. It offers a profit split of 50%, which can increase up to 70% based on performance. It is similar to the Standard account except that the Standard account offers a higher starting balance of $20,000, which also means a higher entry fee. The Executive Challenge features a starting balance of $50,000. It offers a profit share of 60% that can potentially go up to 80%, similar to the VIP account. The VIP is the most impressive package. Besides the 60% to 80% payout, it has the lowest profit target (8%) compared to the others. With this package, traders can scale up to $5 million, earn up to $562,400 in cumulative profits and withdraw profits at all levels.
Futures
For futures trading, each account type offers a one-time refundable entry fee, no minimum trading days requirement, and a 30-day evaluation duration. However, the VIP account stands out with a longer evaluation duration of 60 days.
Like the Forex CFD, the Lite account is also the smallest here but has a starting capital of $20,000, a 5% profit target, and a 60% payout that can increase to 70% based on performance. The contract size is 10 micros with $250 and $500 in daily and max drawdown, respectively. It also includes free access to core platform features such as real-time L1 data, Squawkbox, Quantower, ATAS and a Rithmic license. The Standard account offers similar profit shares and core features as the Lite account but with a starting balance of $150,000, a profit target of $5,000, a contract size of 50 micros and a maximum drawdown of $3,000.
The Executive 2 phase evaluation account has similar starting balances as the Standard account but with a 2% profit target and a contract size of 50 micros for both evaluation phases. The payout starts from 60% and can increase to 80%, depending on performance. Besides the salient features available on the Standard and Lite account, this account also features free real-time L2 data, and traders can potentially access Bookmap on request. The VIP 2 phase evaluation offers similar platform features but a starting balance of $250,000, a profit target of 1.2%, a contract size of 100 micros for both phases and payout shares of 70%, which can go up to 80%.
The Lite account offers an ideal option if you are a novice trader seeking valuable experience. Moderate to experienced traders have the choice between the Standard or Executive accounts. On the other hand, if you are a professional trader with a track record of consistent profitability, the VIP account is the ideal choice for you. The Trading Pit affiliate program is another excellent means for traders to profit from the platform via referrals. The Trading Pit offers a very competitive commission allowing affiliate partners to earn up to $2,000 monthly. Benzinga rates The Trading Pit 5/5 on service offerings.
The Trading Pit offers customer support via multiple channels, including phone, email and live chat on the company’s website. When you contact the company through these channels, you can expect an immediate response from its agent. Your questions or complaints will be addressed and resolved professionally. The FAQ also provides a constructive overview of prop trading and the company’s core offering, including its affiliate program. The company also maintains an active presence on social media and instant messaging platforms, including Twitter, Facebook, LinkedIn, Telegram and Discord, which provides alternative means of connecting with the team for complaint resolution. The Trading Pit enjoys an overwhelmingly positive review on Trustpilot, with a rating of 4.8/5. Clients commend the company for its speedy complaint resolution, excellent product offering and intuitive trading platform. Benzinga rates The Trading Pit 5/5 on customer service.
The Trading Pit highly prioritizes users’ data protection. The company implements robust online encryption measures to prevent misuse, modification, disclosure or unauthorized access to user data, ensuring its security and confidentiality. Personal information collected during signup is used for service improvement, marketing communication, customer support, data analysis and other internal business purposes. The Trading Pit will never share your data with a third party except on consent or for legal purposes in line with regional laws. Users have rights over their information regarding rectification, restriction, erasure, data transfer, objection and revocation. Benzinga rates The Trading Pit 5/5 on customer service.
The Trading Pit prides itself on its transparency regarding fees. You must first pay a one-time fee to participate in the evaluation or Challenge and receive funding. The specific amount varies for each Challenge tier within each tradable asset class. For Forex CFD, the Lite and Standard accounts require a one-time fee of $99 and $179, respectively, while the Executive and VIP accounts cost $399 and $999, respectively. However, the one-time entry fees for futures are $99 for Lite, $169 for Standard, $349 for Executive (the most popular according to the company) and $599 for the VIP. You can reset your account for a fee if you risk breaching the trade rules. When you reset your account, a new account will be opened with the remaining days of the Challenge.
Like the entry fees, the reset fees vary among account types within an asset. For the Forex CFD, it is $39 for the Lite, $59 for the Standard, $120 for the Executive and $299 for the VIP account, while for futures, it is $39 and $50, respectively, for the Lite and Standard account and $120 and $299 for the Executive and VIP account. Successful traders who meet the Challenge’s criteria also have the option to purchase an Extension, which grants them additional time to reach the Profit Targets without restarting. The Trading Pit supports multiple payment options, which help expedite payment. However, unlike most prop firms, The Trading Pit doesn’t offer a demo or free trial period. Benzinga rates The Trading Pit 4/5 on pricing.
The Trading Pit offers traders a comprehensive and user-friendly experience. It provides a range of account options tailored to different trading styles and experience levels. With access to cutting-edge trading platforms, traders can execute trades swiftly and efficiently, aided by real-time quotes and advanced charting tools. The dashboard is highly intuitive, making navigation and utilization of its core features a breeze. Its support for strategies like HFT allows traders to take advantage of rapid market movements. Account setup is also hassle-free, thanks to the simplicity of the platform’s design.
The strong community of traders fosters collaboration and provides a platform for learning and sharing strategies. Exceptional customer support is readily available to address inquiries or technical issues. Traders benefit from various educational resources to enhance their trading skills. These include webinars, podcasts, ebooks, videos and infographics. The Trading Pit offers a comprehensive user experience that combines powerful technology, a supportive community and valuable resources to help traders succeed in the competitive world of trading. Benzinga rates The Trading Pit 5/5 on customer service.
The Trading Pit vs. Competitors
The Trading Pit has many competitors like SurgeTrader and Topstep, which like The Trading Pit, are renowned prop trading platforms aiming to streamline funding access for talented but undercapitalized traders. With The Trading Pit, traders can access up to $5 million worth of funding compared to $1 million in SurgeTrader and $150,000 in Topstep. The Trading Pit charges a competitive one-time entry fee compared to Topstep, which charges a monthly fee. Although SurgeTrader also charges a one-time evaluation fee, it is relatively costlier than The Trading Pit. The Trading Pit’s multiple trading platforms (including ATAS, Rithmic and Quantower), robust trading tools (including Squawkbox and StereoTrader) and support for diverse trading strategies (including algorithmic and HFT) easily beat these other platforms.
get started
securely through SurgeTrader’s
website
SurgeTrader is the go-to prop firm for many prop traders thanks to the platform’s straightforward rules and one-stage audition process that fast-tracks funding. Prop traders leverage institutional capital, sophisticated trading tools and other resources to trade diverse financial instruments — including equities, currencies and derivatives — and deliver significant profits.
SurgeTrader understands that one of the essential recipes for trading success is fast access to capital, and through its efficient one-step evaluation model, the platform aims to accelerate funding for talented retail traders while providing them with a supportive and collaborative trading environment. Prop traders can access up to $1 million in trading and a 90% profit payout or profit split. The platform charges zero monthly fees; no minimum trading days or time limits are required to pass the audition.
At SurgeTrader, traders can trade with their strategy — news trading, algorithmic trading, hedging or something else entirely. Benzinga reviews SurgeTraders products and services and how these services can help you on your journey to financial independence.
Best For
- Wide array of account types
- Quick setup
- Undercapitalized professional traders
- Traders with excellent trading and risk management strategies
- Those with proven track records of profitable trading, strong analytical skills and discipline
- Traders seeking large-size funding
- Scalable funding plans
- No monthly, hidden or recurring fees
- One-step evaluation process
- Excellent customer service
- Diverse tradable financial instruments
- Highly intuitive and user-friendly trading portals
- Evaluation costs more than balanced out by a lack of recurring fees
- Backed by venture capital (real money), with 100% of earned payouts made since inception
- 90% payout available from day one in some cases
- 90% payout only available with add-ons
- Withdrawals are allowed monthly
get funded
Super Funded is a fast-rising multi-asset prop firm founded by veterans of the Australian forex trading industry with the goal of streamlining access to global markets for retail or prop traders via fast funding and affordable evaluation pricing. The platform’s simple one-step evaluation, varying account sizes, straightforward rules and attractive profit sharing make it ideal for professional traders needing capital. Super Funded stands out among other prop trading firms thanks to its radically low evaluation fee and immediate payout on qualification.
Diverse financial instruments are available, including major stock indices and contracts for difference (CFDs), currency pairs, precious metals (gold & silver) and energy products (Brents & WTI oils). You can hold trades overnight and on weekends. And as part of the PropTradeTech network, you needn’t worry about the firm’s fund running out — your payout is guaranteed via a legal document. The company goes above and beyond to help traders realize their goals.
Suppose you’re a skilled retail or prop trader looking to get immediate funding from a platform that offers you cutting-edge trading technology and industry-leading spread. In that case, Super Funded is an excellent option. However, its lack of robust educational tools makes it unideal for newbie traders. Its $200,000 maximum account size is considerably low compared to competitors. Benzinga reviews this prop firm, offering a deeper insight into its product offerings and how they might benefit you as a prop trader.
Best For
- Expert retail or prop traders
- Those who like to trade commodities
- Swing and day traders
- Undercapitalized retail traders seeking fast funding
- Trades with sound risk management strategies
- Those seeking moderate funding
- Excellent profit sharing or payout ratio
- Low pricing — no monthly and hidden fees
- Simple one-step evaluation or audition
- Straightforward rules
- Multiple tradable financial instruments
- No demo on qualification — you trade real money on the live market
- Permits EAs or algos
- Competitive leverage — up to 1:30
- Permits weekends and overnight trading
- Cutting-edge and industry-recognized MT4 trading terminals via Eightcap — an ASIC-regulated broker
- Inadequate educational tools or resources
- Relatively low funding ($200,000 maximum)
- Not available globally
- Few reviews across independent platforms
- Limited customer service options
get funded
securely through The 5ers’s
website
The 5ers is a proprietary trading firm that offers an affordable and accessible option to access funding for trading forex, metal and indices. Traders may pay as little as $95 to open a demo account, and instant trading access is available. While you’ll already need to have a developed trading strategy in place to get the most out of The5ers, those confident in their skills will find an option to show what they know without paying an ongoing subscription fee. Be sure to note trade restrictions before paying the participation fee — doing so will allow you to work profitably within the bounds of The5ers restrictions.
Best For
- Experienced and beginner forex, indices and metal traders
- Traders with knowledge of the forex market but limited capital to invest
- Those experienced in MetaTrader 5 forex trading
- Scalpers and swing traders
- Traders willing to improve their trading performance
- One-time fee avoids the need to pay ongoing subscription costs
- Offers traders access to capital trading funds without a thousand-dollar deposit
- Profit split up to 100%
- Large range of exclusive resources
- A program as a solution for every trader style and objectives
- Salary offer on high-stakes program
- Low-entry cost on Bootcamp program
- Fastest scaling plan on all programs
- No access to stock or ETF markets
get funded
securely through OneUp Trader’s
website
OneUp Trader offers a unique funded trader program and has partnered with multiple prop firms to guarantee trading funds of up to $250,000. OneUp Trader has gained a reputation for its innovative and straightforward 1-step evaluation designed for traders to prove their trading skills and receive a funded trading account upon passing the evaluation. Unlike other prop firms, OneUp Trader keeps things simple without requiring traders to jump through many hoops.
The program allows traders to extract profit from the markets without risking their own capital. OneUp Trader offers several account sizes to meet the needs of all traders ranging from $25,000 to $250,000, with each account having its own risk parameters.
Traders are placed with one of their funding partners upon a successful evaluation and are funded with the same account size as their evaluation account. Additionally, funded traders are eligible to withdraw 100% of their first $10,000 net profit and enjoy a whopping 90% profit split afterward.
Best For
- Prop traders looking for capital to fund futures trading
- Traders who would like to trade risk free
- Traders who do not want to risk their own capital
- Access to accounts between $25,000 and $250,000
- FREE NinjaTrader License for Evaluaton and Funded Accounts
- Unlimited Profit Withdrawals – no cap
- No Data Fees for Funded traders
- 24/7 Real-time Customer Support
- Been in the industry for a long time
- Has funded thousands of traders
- Free 7 day trial
- Minimum of 15 trading days required
- Limited payment methods (accepts only credit & debit cards)
get started
securely through Trade The Pool’s
website
Most retail traders fail to become profitable for three reasons — suffering a lack of capital, risking their own money and trading without risk-prevention mechanisms.
That’s why stock traders prefer Trade The Pool.
TTP was founded in 2022 by Five Percent Online Ltd, the operators of The5ers — a time-tested, highly reputed and well-respected prop trading firm established in 2016.
Trade The Pool offers a unique funding solution for all types of stock traders, and a partner of some of the most leading companies in the industry.
Best For
- Prop traders
- Day traders
- Swing traders
- Professional or expert traders
- Traders dealing in stocks and contracts for difference (CFDs)
- Inexperienced traders
- Unlimited buying power
- 14-day free trial
- More the 12,000 stocks and ETFs to trade
- Incredible program features like start over button and redemption fees
- Exquisite and insightful trading dashboard
- Excellent content and educational resources
- Withdraw profits and scale up your funded account at the same time
- Free subscription for Trade Ideas or TrendSpider or Bookmap
- Get a free month with TraderSync
- Great opportunity to grow or hone your trading skills
- Unlimited buying power can create over-leveraging
- Primarily stocks and CFDs
The Trading Pit stands out in the prop trading industry with its unique features and offerings. It provides traders access to cutting-edge technology through powerful trading platforms, ensuring a seamless and efficient trading experience. The platform embraces multiple trading strategies, including news trading, copy-trading and HFT methods, allowing traders to execute trades rapidly and take advantage of small price differences. The vibrant community of traders fosters collaboration, knowledge-sharing and a healthy competitive spirit.
The company’s exceptional customer support ensures that traders receive prompt assistance and have access to educational resources to enhance their trading skills. With a focus on transparency, The Trading Pit offers various account types with different profit splits and entry fees, catering to traders of different levels. The Trading Pit provides a comprehensive and supportive environment for traders to thrive and succeed in the financial markets. Still, it is relatively new, and potential prop traders must constructively review its offerings and track record before deciding to participate in their audition. Benzinga rates The Trading Pit 5/5 overall.
Frequently Asked Questions
What is a prop trader?
A prop trader, short for a proprietary trader, is an individual or firm that trades financial instruments using their own capital to pursue profit rather than executing trades on behalf of clients.
Answer Link
Can you make money from prop trading?
Yes, it is possible to make money from prop trading. Traders can earn profits by effectively executing trades, managing risks and capitalizing on market opportunities using the company’s funds.
Answer Link
The post The Trading Pit Review by Chika Uchendu appeared first on Benzinga. Visit Benzinga to get more great content like this.