In this article, we’ll be comparing two prop firms, Elite Trader Funding and The Trading Pit.
Let’s look at all details.
Prop Firms General Details
In this first table, we compare the year where each prop firm was founded, where their offices are located, and how much balance you can get to trade after scaling (when applicable).
|Prop Firm Details||Elite Trader Funding||The Trading Pit|
|Offices Location||Florida, USA||Liechtenstein|
|Keep First Profits||$12,500||Challenge Fee|
Here’s a list of all instruments supported by Elite Trader Funding and The Trading Pit. I divided the list into two parts to show CFDs products and Futures products.
|Instruments CFDs||Elite Trader Funding||The Trading Pit|
|Instruments Futures||Elite Trader Funding||The Trading Pit|
|Foreign Exchange Futures|
|Interest Rate Futures|
Funding Program Types
Prop firms have different program types to achieve a funded account.
Here’s the resume and comparison of the Elite Trader Funding and The Trading Pit different program types.
|Prop Firm Programs||Elite Trader Funding||The Trading Pit|
|Two Step Evaluation|
Instant Funding Comparison
Instant funding programs give you access to a funded account immediately without needing to pass any challenge.
|Instant Funding Rules||Elite Trader Funding||The Trading Pit|
|Max Daily Loss|
|Max Daily Drawdown|
|Minimum Trading Days|
|Maximum Trading Days|
One-Step Program Comparison
One-Step programs are programs that require a single challenge to be passed. As soon as you pass the challenge, achieving the required targets without breaking any rules, you’ll be rewarded with a funded account to trade.
Here’s the comparison table for the Elite Trader Funding and The Trading Pit prop firms.
|One Step Rules||Elite Trader Funding||Elite Trader Funding||Elite Trader Funding||Elite Trader Funding||Elite Trader Funding||The Trading Pit||The Trading Pit||The Trading Pit||The Trading Pit||The Trading Pit|
|Program Name||1-Step||End Of Day||Fast Track||Static Drawdown||Diamond Hands||Forex Lite||Forex Standard||Forex VIP||Futures Lite||Futures Standard|
|Max Daily Loss||2.2%-1.7%||1.5%||3%||3%||3%||1%|
|Max Daily Drawdown||10%-2.5%||6%-2.8%||3%-2.6%||3.5%|
|Minimum Trading Days||5||5||5||5||5||15||10||7||10||15|
|Maximum Trading Days||14||90||90||90||30||30|
|Profit Split||80%||80%||80%||80%||80%||50%, up to 70%||50%, up to 70%||60%, up to 80%||50%||60%|
Two-Step Program Comparison
Two-Step programs require that you pass two different challenges before getting funded. Usually, each phase or each challenge has different targets and rules.
Here’s the comparison for Elite Trader Funding and The Trading Pit.
|Two Step Rules||Elite Trader Funding||The Trading Pit||The Trading Pit||The Trading Pit|
|Program Name||N/A||Forex Executive||Futures Executive||Futures VIP|
|Profit Target Step 1||6%||2%||1.2%|
|Profit Target Step 2||4%||2%||1.2%|
|Max Daily Loss||3% + 2%||1.7% + 0.7%||1% + 0.4%|
|Max Daily Drawdown|
|Max Drawdown||8% + 6%||2.3% + 2.3%||2% + 2%|
|Min Trading Days Step 1||7||7||5|
|Min Trading Days Step 2||7||7||5|
|Max Trading Days Step 1||90 (total both phases)||30 (total both phases)||60 (total both phases)|
|Max Trading Days Step 2||90 (total both phases)||30 (total both phases)||60 (total both phases)|
|Profit Split||60%, up to 80%||60%||70%|
Trustpilot is a reputable platform when it comes to reviewing products and services.
Here is the rating that Elite Trader Funding and The Trading Pit have on Trustpilot.
|Trustpilot Stats||Elite Trader Funding||The Trading Pit|
|Number of Reviews||82||98|
Being able to test a prop firm before we commit and purchase is a good thing. We can get used to their trading platform, and understand spreads, commissions, and rules.
Some proprietary firms also offer free repeats in some circumstances, and also free resets, to be able to reset our account before the challenge period is over, in case things are not going as we wanted.
Here’s the comparison for Elite Trader Funding and The Trading Pit prop firms.
|Free Stuff||Elite Trader Funding||The Trading Pit|
Some prop firms may be better for you than others depending on your trading style. In this table, you can see the comparison between the trading styles allowed by Elite Trader Funding and The Trading Pit prop firms.
|Trading Styles||Elite Trader Funding||The Trading Pit|
Although most proprietary firms are more oriented to day trading, some allow holding positions overnight and even on weekends.
Here’s what is allowed by Elite Trader Funding and The Trading Pit.
|Trading Hours||Elite Trader Funding||The Trading Pit|
|Holding Over Weekend|
We all like to use the trading platform that we are used to. For this reason, prop firms support different trading platforms.
Here’s an extensive list of the platforms supported by Elite Trader Funding and The Trading Pit.
|Supported Platforms||Elite Trader Funding||The Trading Pit|
|Track N Trade|
The leverage provided by the prop firm may be an important factor when choosing it. This is especially true for day trading or scalping, where the position size is usually significantly bigger than for swing trading.
Here’s a comparison of the leverage provided by Elite Trader Funding and The Trading Pit prop firms.
|Leverage CFDs||Elite Trader Funding||The Trading Pit||The Trading Pit|
|Leverage Futures||Elite Trader Funding||The Trading Pit||The Trading Pit|
Proprietary firms have several ways of payment.
Here’s a table with the comparison between the payment methods accepted by Elite Trader Funding and The Trading Pit.
|Payment Types||Elite Trader Funding||The Trading Pit|