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.
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.
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.
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.
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!