Pros ✅
FTMO
- Over 4k Trustpilot reviews at 4.9/5 with exceptional 24/7 customer support.- Trading Psychologist available, scaling plan, and CEO's public visibility.- Free trial, infinite evaluation retries, and bi-weekly payments at 80%-90% profit.- Flexible trading: no cap on duration, minimum 4 days, 1:100 leverage, and diverse tools.
The Trading Pit
- Scaling up to $5,000,000 with up to 80% profit division.- Stellar Trustpilot rating of 4.8/5.- Wide range of trading instruments.- Minimal trading requirement of 3 days.- Flexible trading: overnight, weekends, and news events.
Rules 📋
FTMO
Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No News Trading, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
The Trading Pit
Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Maximum Trailing Drawdown, Minimum Trading Days, No Copy Trading Allowed, Profit Target
Account Size 🪙
FTMO
"$10,000 USD", "$100,000 USD", "$200,000 USD", "$25,000 USD", "$50,000 USD", "£10,000 GBP", "£140,000 GBP", "£20,000 GBP", "£35,000 GBP", "£70,000 GBP", "€10,000 EUR", "€160,000 EUR", "€20,000 EUR", "€40,000 EUR", "€80,000 EUR", "1,000,000 CZK", "2,000,000 CZK", "250,000 CZK", "4,000,000 CZK", "500,000 CZK", "$130,000 AUD", "$15,000 AUD", "$260,000 AUD", "$30,000 AUD", "$65,000 AUD", "$120,000 CAD", "$15,000 CAD", "$240,000 CAD", "$30,000 CAD", "$60,000 CAD", "10,000 CHF", "160,000 CHF", "20,000 CHF", "40,000 CHF", "80,000 CHF"
The Trading Pit
"$10,000 USD", "$100,000 USD", "$20,000 USD", "$50,000 USD"
Instruments 📈
FTMO
Bonds, Commodities, Crypto, Forex, Indices, Metals, Stocks
The Trading Pit
Bonds, Commodities, Crypto, Forex, Indices, Stocks
Overview of FTMO and The Trading Pit
When looking for the right proprietary trading firm, traders are faced with a myriad of options, each with its own benefits and drawbacks. The selection of a prop firm often hinges on key factors such as customer support, profit sharing arrangements, account size offerings, trading instruments, and the rules that govern trading activities. In this review, we will compare two prominent prop firms – FTMO and The Trading Pit – to delineate their features and to assist retail traders and potential users in making an informed decision.
FTMO's Excellence in Support and Client Advancement
FTMO has clearly established its prominence in the prop trading community, not only through its remarkable Trustpilot score of 4.9/5 but also with the infrastructural support complemented by exceptional 24/7 customer service. The readily available trading psychologist and a transparent scaling plan reflect FTMO's dedication to advancing its traders. The CEOs' public presence aids in fostering trust and reliability in management.The firm also caters to the new entrants in the market by providing educational materials more suitable for beginners, ensuring a welcome learning environment. Furthermore, traders have the freedom of infinite evaluation retries and can look forward to bi-weekly payouts from profits accrued, ranging between 80%-90%. The allure of no maximum trading duration, a minimum of only four trading days and leverage of 1:100 adds to the flexibility advocated by FTMO.
The Trading Pit's Scalability and Flexibility
Enter The Trading Pit, another leading name with its stellar Trustpilot rating of 4.8/5, defining high client satisfaction. This prop firm is distinguished by its scalability potential, offering traders the chance to manage as much as $5,000,000 with a profit division reaching up to 80%. The minimal trading requirement of only three days and leniency towards overnight, weekend, and news event trading presents The Trading Pit as a firm with a flexible trading structure.
Comparing Financial and Account Aspects
In terms of account sizes, FTMO presents a plethora of choices ranging across multiple currencies and sizes, catering to international traders with different capital needs. The Trading Pit, focusing solely on USD accounts, may seem restrictive, but it streamlines the process for those trading in the world's primary reserve currency.For tradeable instruments, both firms offer a wide array – from bonds to stocks – with FTMO extending the list to include metals. Traders intending to diversify their strategy can benefit from these offerings.
Funding and Profit Sharing Configurations
FTMO's deposit and withdrawal methods include bank wire transfer, credit/debit cards, and crypto, providing several convenient options. The Trading Pit, while offering similar deposit methods, limits withdrawals to bank wire transfers, which could be a drawback for those seeking varied withdrawal avenues.Profit sharing at FTMO starts at a higher percentage, making it attractive from the get-go, which could be a decisive factor for profit-driven traders. In contrast, The Trading Pit begins at a lower initial profit share, potentially increasing with scaling, which may suit long-term, ambitious traders.
Trading Rules and Constraints
In terms of trading rules, both firms enforce similar constraints such as maximum daily loss and profit targets. Notably, FTMO prohibits news trading, which could deter traders who specialize in or rely on trading during volatile market events.
Alignment with Trader Preferences and Styles
With FTMO's establishment in September 2015 and a comprehensive user support system, it appears to cater to a broad spectrum of traders, particularly those who value robust support and educational grounding. Meanwhile, The Trading Pit, though younger in the industry with its February 2022 incorporation, shows promise with its significant scaling opportunities and flexibility.Each firm's constraints, such as FTMO's account cap and The Trading Pit's trailing drawdown post-funding, should be carefully weighed against personal trading strategies.
Conclusion
Both FTMO and The Trading Pit offer unique features that can cater to different trader profiles. FTMO stands out for its comprehensive support and flexibility in trading styles, while The Trading Pit appeals to those looking for high scaling potential and less restrictive trading conditions. It is imperative for potential users to consider their individual trading needs, risk appetite, and long-term goals when choosing between these two distinguished prop firms.
