The Funded Trader, established in May 2021, has quickly become recognized for offering traders sizable standard balances up to $600,000, with options for scaling up to $1,500,000. Its success is reflected in its Trustpilot rating of 4.7/5 derived from a substantial number of reviews. In contrast, The Trading Pit, launched in February 2022, may be newer but promises an impressive potential for scaling up to $5,000,000, already securing an excellent Trustpilot rating of 4.8/5.
With The Funded Trader, traders benefit from a substantial leverage of 1:200 and attractive profit splits ranging between 80-90%. The firm also stands out by offering unlimited free evaluation retries. The Trading Pit, meanwhile, promises a robust scaling ladder that could lead a trader to managing a $5,000,000 account. However, it starts its traders at a lower profit share bracket of 50-60%, potentially increasing as traders qualify for larger account sizes.
Both firms allow trading during news releases and overnight, adding to the flexibility for traders. The Funded Trader caters to a range of traders by including forex and cryptocurrencies in their offered instruments. The Trading Pit casts a wider net, including bonds and stocks, making it attractive for traders seeking to diversify their strategies across a broader spectrum of instruments.
The trading terms of both firms emphasize risk management with specifications for maximum daily losses and profit targets, though with distinct approaches. The Funded Trader imposes lot size limits, prohibits the use of Expert Advisors (EAs), martingale strategies, and third-party copy trading—adding a layer of challenge for those used to such tools. The Trading Pit also prohibits copy trading and introduces a trailing drawdown post-funding, which may influence trading style and strategy.
Accessibility in account funding is almost identical for both firms, offering credit/debit cards and crypto options. However, when it comes to withdrawals, The Funded Trader provides more modern services like crypto and Deel—a fintech platform geared towards streamlined international payments, whereas The Trading Pit sticks to traditional bank wire transfers.
The Funded Trader presents a diverse array of account sizes ranging from $5,000 to $400,000 USD, appealing to traders with different capital requirements. The Trading Pit doesn't specify various account sizes denominated in USD, which may indicate a one-size-fits-all model or a customizable account size approach.
Reviews and user experience are a cornerstone for potential traders. The Funded Trader scores a stellar 4.7/5 Trustpilot rating from over 5,000 reviews, suggesting a high level of satisfaction among its users. On the other hand, The Trading Pit—though newer—commands a slightly higher Trustpilot rating of 4.8/5, indicating promising user experiences and the potential for growth in its trader community.
Both prop firms under review demonstrate strong suits in their respective offerings. The Funded Trader leans towards supportive trading conditions with multiple funding options and an impressive leverage rate, suitable for aggressive growth strategies. In contrast, The Trading Pit shines with its minimal trading requirements and potential for scaling which might entice traders aiming for long-term growth and trading flexibility. Ultimately, retail traders and potential users should weigh these features against their personal trading styles, strategies, and risk tolerance before deciding on a prop firm.