The Trading Pit review – Test of the prop trading firm
- Earn up to 70% of profit
- Personal support
- Different challenges
- For professionals and beginners
- Futures and forex is supported
- Fair conditions
Nowadays, prop trading firms are gaining huge popularity among traders. No trader would give up the offer of trading where he does not have to use his money. That is what a prop trading firm like The TradingPit does. It allows traders to generate maximum profits and earn additional income. After all, it benefits both traders and the prop trading firm.
The TradingPit is a prop trading firm that allows traders to become funded traders.
It funds traders’ accounts so they can trade. But there are conditions. You might wonder how prop trading firms such as The TradingPit work and benefit traders. Let’s find it out.
What you will read in this Post
What is The Trading Pit?
It would be uncanny if you did not come across the name The Trading Pit. The Trading Pit is a prop trading firm that successfully connects hundreds of traders with itself. The credit owes to The TradingPit’s offers that traders find very lucrative.
|Good to know!
|Traders, whether experienced or novice, can join The TradingPit. However, to become a funded trader, a trader might have to undergo a challenge that The TradingPit offers.
The prop trading firm is becoming well-known for its amazing features. Besides, the payout ratio of this platform is very attractive. For every trade a trader wins, they can earn up to 70% of the profit. It also offers several programs where traders can join as an affiliate.
Let’s look into The TradingPit’s offers in detail after we discuss how prop trading firms work.
How does a prop trading firm work?
A prop trading firm works in a very simple way. It is synonymous with proprietary trading.
- A prop trading firm attracts and connects several traders with itself.
- It funds the traders when they pass the challenge and prove to get funded. Once they do, they can use the prop trading firm’s live trading account to place their trades.
- The users then earn a profit and become eligible to withdraw a fixed percentage of that profit.
- Thus, the prop trading firms use the skills and expertise of the traders who know the market’s intricacies and excel in trading.
- In this way, hundreds of trades take place, allowing the prop trading firm to increase its bank account balance.
- As a result, prop trading is a favorable setting for traders and prop trading firms.
- The traders don’t require to put in their funds, and the firm can hire someone other than experts to fetch profits.
Besides, the greatest benefit, which distinguishes it from a brokerage platform, is that it does not charge any commissions from traders. Instead, the prop trading firm makes money by acquiring a certain part of the profit that the traders earn when they trade through their funded trading accounts.
Offers of The Trading Pit
Since you know about The TradingPit, let us acquaint you with some offers that extend to traders.
1. The affiliate program
The affiliate program offered by The TradingPit is for traders who wish to become a partner of The TradingPit.
The affiliate program works in the following way:
- A trader joins the affiliate program as a partner of The TradingPit.
- He recommends the prop trading firm to his friends, family, and other traders that he knows.
- The affiliate earns a commission for every trader who joins using the affiliate’s reference.
Thus, an affiliate program is perfect for traders wishing to earn passive income without making any real investment. This program by The TradingPit allows traders to earn up to 15% commissions.
2. The Trading Pit challenge
Another offer that The TradingPit extends to the traders is The TradingPit challenge. Traders with the best risk management skills can enroll in The TradingPit challenge. That challenge allows traders to become funded traders when they pass it.
Here are its details:
- Traders have to sign up for The TradingPit challenge by paying a small one-time fee to the prop trading firm.
- Then, they have to choose the challenge they wish to accept.
- The challenges differ according to the amount they wish to trade and the risk level they want to take.
- Then, a trader gets a time of 30 days to place the trades and achieve his profit target. While achieving his profit target, he must also ensure that he undertakes an adequate amount of risk to meet the terms and conditions of the challenge.
- Once the period of 30 days lapses and you meet the challenge’s terms and conditions, you become eligible for verification.
- The verification part extends for up to 60 days. Here too, you have to place a few trades and meet the profit targets while keeping up with the challenge’s terms and conditions.
- Once you pass the verification stage successfully, you become eligible to become a funded trader on The TradingPit.
Then, The TradingPit funds your trading account with money that you can use to place trades. Finally, traders can withdraw up to 70% of their profit on every trade. However, to become a funded trader, a trader must ensure he showcases his risk management skills well.
Cost and fees of The Trading Pit
Here is a brief overview of The TradingPit fees and costs. It varies according to The TradingPit challenge a trader chooses.
|Cost/Fees (in EUR)
|Futures Rookie Challenge
|Futures Pro Challenge
|Futures Expert Challenge
|Forex Pro Challenge
|Forex Expert Challenge
The best thing about The TradingPit is that it supports not one but four different platforms.
- MetaTrader 4
- MetaTrader 5
- Edge Clear
- Stereo Trader
The name of ATAS as a good prop trading platform is well known. Traders use this prop trading platform for its lucrative analytics. Besides, this platform has all the leading tools a trader might need for fast and intuitive trading.
|Good to know!
|The features of ATAS are such that it promotes a healthy risk management skillset among the users. In addition, they also learn several fund management techniques because of its advanced features.
The TradingPit allows traders to access Quantower to trade multi-assets. This trading platform is best suited for traders who have experience in trading. Quantower lets traders access hundreds of underlying assets. In addition, it has several features that make any trader’s trading experience smoother.
It contains all trading charts and tools that traders trading on The TradingPit would need. With these tools, traders can never lag in making an accurate trading analysis. They can also use it to build their algorithms and trading indicators.
Thus, using this trading platform only makes them better at trading.
Rithmic is a well-known low-latency platform that offers a lot to traders. Besides helping them manage their orders, it lets them access the leading features that any trading platform should have.
|Good to know!
|Traders can access all imaginable trading indicators on Rithmic that help them place high-quality trades. In addition, learning exceptional risk management skills becomes easy with Rithmic.
Thus, as the best trading platform, Rithmic ensures that a trader enjoys a seamless trading experience on The TradingPit.
Bookmap is for those traders who like to delve deeper into making a trading analysis. This trading platform offered by The TradingPit allows traders to look more clearly at the market. Thus, getting market insights while trading on The TradingPit becomes easy for any trader.
Bookmap also leads in offering traders the best heatmaps and volume tools. Trading indicators of your choice are easily available on Bookmap. Funded traders trading on The TradingPit can also manage their trading orders more efficiently.
Thus, Bookmap is one of the greatest TradingPit features all traders love.
Why should you join The Trading Pit?
You can join The TradingPit if you feel interested in becoming a funded trader. For example, traders who manage risk well or wish to learn excellent risk management skills can use The TradingPit. However, to become a funded trader, you might have to pass the trading challenge offered by The TradingPit.
Conclusion – The Trading Pit is a remarkable prop trading firm
The Trading Pit is a remarkable prop trading firm that enables traders to become funded traders. It enhances the profit-earning potential of a trader without them having to use their money. Both professional and novice traders can try The TradingPit challenge to determine whether they deserve to become funded traders.
There are no potential disadvantages of The Trading Pit or its challenge. So, if you wish to use the prop trading firm’s money to make profits, you can begin with The TradingPit challenge today. If not, you can join the trading platform through its affiliate program.
Frequently asked questions (FAQs) about The Trading Pit:
Is prop trading with The Trading Pit legal?
Yes, prop trading with The Trading Pit is legal and enjoyable. Traders can sign up for this challenge by visiting The TradingPit’s website. They have a chance of becoming funded traders if they pass The TradingPit challenge.
What is The Trading Pit?
The TradingPit is a proprietary or a prop trading firm. A prop trading firm allows traders to place trades through its live trading account. The profits made get divided between traders and prop trading firms.
How do prop trading firms make money?
Prop trading firms allow traders to trade through their live trading accounts. It allows only experienced and ultimate risk managers to join the platform. Then, the profits they make with their skills and expertise get divided between the prop trading firm and the trader. It is the source of income for the prop trading firm.
Is The Trading Pit legal?
Yes, The TradingPit is fully legal, and traders can take on the challenge of becoming funded traders on this prop trading platform.