Overview
The Trading Pit is a prop firm, or “proprietary trading firm.” based in Liechtenstein. Like most prop firms, the concept behind the Trading Pit is simple: they offer company capital to traders through funded accounts. The Trading Pit takes the hit of any losses, but the trader gets to keep up to 80% of the profits.Things we didn't like:
Strict drawdownsQuite tough trading targets
Low initial profit splits
Customer service complaints
Why would you want an alternative to THE TRADING PIT?
For all its numerous accolades, the Trading Pit may not be for everyone. The tradeable assets are limited to forex and futures and some traders may prefer to find a prop firm that also offers access to other markets such as stocks and cryptocurrency. While they offer up to 80% in shared profits the initial cut to traders is 50% and this does not get above 55% until Level 5.
Affiliates may be put off by the Trading Pit Affiliate scheme, which only pays out monthly. While the Trading Pit claims it offers “competitive commissions” to its Affiliates the exact percentage is not published, and some would-be applicants may be discouraged by the lack of information online.
What to look for in a THE TRADING PIT Alternative?
In view of the above, improvements to the Trading Pit could include transparent commissions for Affiliates, fewer steps for traders during the KYC process, and access to markets other than forex and futures. Traders looking for an alternative to the Trading Pit should search for prop firms specializing in cryptocurrency or stocks trading and affiliates looking for new programs could use their ideal percentage as a search term.
Best THE TRADING PIT alternatives – Proprietary Trading Firms like (or better than) THE TRADING PIT
Rating breakdown
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt
Things we didn't like:
New player in the funded account offeringAn entry fee to sign up for the challenge.
FunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
FTMO charges a one-time fee onlyFTMO has generous conditions for its traders
Things we didn't like:
Complaints about the platform freezingComplaints about lack of customer support
FTMO Overview
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
Rating breakdown
Things we liked:
No restrictions on applied strategies plus, traders can use their advisors;Ability to repeat a challenge.
Things we didn't like:
While Eightcap provides many different instruments, only a few of them are available;Trading cryptocurrencies is possible only during the challenge.
The Funded Trader Overview
Lack of real funds aside, there is much to love about the Funded Trader. If you enjoy a gamified approach to trading, then you will find plenty to appreciate on this platform. In summary, traders can leverage the highly realistic simulations of the Funded Trader Challenges to prepare themselves for a live market scenario and the risk of their own real funds. There is also a Kingdom of interactive and entertaining tools and features that will see you building up your traders’ portfolio of skills and strategies without feeling like classroom learning!