If you’re interested in becoming a futures trader, you may have come across Topstep. Topstep is a company that offers a program designed to help traders learn and improve their skills, with the ultimate goal of becoming a funded trader. In this article, we’ll take a closer look at Topstep and provide a review of their program.
Topstep’s program is designed to help traders develop the skills and discipline needed to become successful traders. The program includes a simulated trading environment, known as the Trading Combine, where traders can practice their skills without risking real money. Once a trader passes the Trading Combine, they can become a funded trader and trade with real money, with the potential to earn a share of the profits they generate.
Topstep’s program is not for everyone, and it’s important to understand the risks involved in futures trading before getting started. However, for those who are serious about becoming a futures trader, Topstep can be a valuable resource. In the following sections, we’ll take a closer look at the program and provide a detailed review of its features and benefits.
Topstep is a proprietary trading firm that offers traders the opportunity to trade futures contracts with a funded account. The firm was founded in 2012 by Michael Patak, a former trader and risk manager. Topstep’s mission is to help traders achieve their goals by providing them with the tools and resources they need to succeed.
Topstep’s trading program is designed to help traders develop their skills and prove their profitability. Traders start by taking a simulated trading evaluation, called the Trading Combine, to demonstrate their trading abilities. If they pass the evaluation, they are then eligible to trade a funded account with Topstep.
Topstep’s funded accounts come with a variety of benefits, including access to real-time market data, low commissions, and risk management tools. Traders are also able to keep a portion of their profits, with Topstep taking a percentage of the profits as a fee.
Topstep is not the only proprietary trading firm out there, but it is one of the most reputable. Prop firms, as they are commonly known, offer traders the opportunity to trade with the firm’s capital and receive a share of the profits. However, not all prop firms are created equal, and traders should do their research before signing up with any firm.
In summary, Topstep is a reputable prop firm that offers traders the opportunity to trade futures contracts with a funded account. The firm’s program is designed to help traders develop their skills and prove their profitability. If you are interested in trading futures contracts with a prop firm, Topstep is definitely worth considering.
The Topstep Combine
The Topstep Combine is a program designed to help traders build better skills, discipline, and habits as they are evaluated for funding. The program is a realistic simulation of trading under actual market conditions, and it is difficult to pass even for experienced traders. It is not suggested for individuals with minimal trading experience.
The Combine has two steps: Step 1 and Step 2. In Step 1, traders must meet the Trading Combine rules and reach the Profit Target without breaking the Max Drawdown. The Profit Target and Max Drawdown vary depending on the chosen combined package. In Step 2, traders must meet the same rules as in Step 1, but with a higher Profit Target and Max Drawdown. The goal of the Combine is to demonstrate consistency and risk management, which are essential qualities for any successful trader.
To pass the Combine, traders must meet the Consistency Target, which is calculated by dividing the Profit Target by the number of trading days in the Combine. Traders must also show discipline by following the rules of the Combine, such as closing positions daily before 3:10:00 PM Central Time (CT) Monday through Friday. After the weekend, trading resumes on Sunday at 5:00:00 PM CT.
If traders pass the Combine, they can unlock a Funded Account in as little as 2 days. The Funded Account allows traders to trade with real money and keep up to 80% of the profits they generate. The Funded Account also has rules that traders must follow, such as a Daily Loss Limit and Weekly Loss Limit.
In summary, the Topstep Combine is a challenging but rewarding program for traders who want to improve their skills and become funded futures traders. It emphasizes consistency, risk management, and discipline, which are essential qualities for any successful trader.
Topstep Trading Platforms
Topstep offers a variety of trading platforms to its traders. Here are some of the trading platforms that are supported by Topstep:
- Trade Navigator
- R | Trader Pro
- Sierra Chart
- CTS Daytradr
- Bookmap X-Ray
- Order Flow Trading
Topstep’s proprietary trading platform, TSTrader, is built specifically for futures trading. It is a web-based platform that can be accessed from any device with an internet connection. It offers a variety of features, including customizable charts, real-time market data, and advanced order types.
NinjaTrader is another popular trading platform supported by Topstep. It is a desktop-based platform that offers advanced charting capabilities, customizable indicators, and a wide range of order types. It also offers a simulation mode that allows traders to practice trading without risking real money.
TradingView is a web-based platform that offers real-time market data and advanced charting capabilities. It also offers a social trading feature that allows traders to share ideas and strategies with each other.
In addition to these platforms, Topstep also supports a variety of other trading platforms, including MultiCharts, Trade Navigator, and MotiveWave. Traders can choose the platform that best suits their trading style and preferences.
Overall, Topstep offers a wide range of trading platforms to its traders, ensuring that they have access to the tools and features they need to succeed in the futures markets.
Becoming a Funded Trader
If you’re looking to become a funded trader, Topstep may be worth considering. The company offers a program called the Trading Combine, which helps traders build better skills, discipline, and habits as they are evaluated for funding.
To become a funded trader, first, you need to pass the Trading Combine. The program is designed to evaluate traders’ skills and discipline, and it’s divided into two steps. The first step is the Trading Evaluation, where you trade in a simulated environment to prove your skills and consistency. The second step is the Funded Trader Preparation, where you learn how to manage risk and trade with a funded account.
Once you pass the Trading Combine, you can unlock a Funded Account in as little as two days. Topstep Funded Traders can pay themselves up to four times a month, and they have access to a supportive trading community.
Topstep offers different funded account options, depending on your trading style and needs. For example, they have a Futures Funded Account, a Forex Funded Account, and a Crypto Funded Account. Each account has different rules and requirements, so make sure to read and understand them before trading.
It’s important to note that the evaluation process is not easy, and not everyone will pass. So, it’s crucial to have a solid trading plan, risk management strategy, and discipline.
In summary, becoming a funded trader with Topstep requires passing the Trading Combine, choosing the right funded account option, and trading with discipline and consistency. It’s a challenging but rewarding journey that can help you achieve your trading goals.
Risk and Reward
When it comes to trading, managing risk is just as important as seeking out profits. Topstep understands this and has implemented several measures to help traders manage their risk and maximize their reward.
Firstly, Topstep sets a daily loss limit for all traders in the Trading Combine. This limit ensures that traders do not lose more than a certain amount in a single day, which helps to mitigate risk. Additionally, Topstep monitors all trading accounts that have any trading day that exceeds 200 total contracts to identify any prohibited conduct, gambling behavior, or exploitation of the simulated environment.
To help traders maximize their profits, Topstep offers a profit split program. Once a trader passes the Trading Combine and earns a Funded Account, they will receive a payout for their profits. The profit split varies depending on the size of the Funded Account, but traders can earn up to 80% of their profits.
Topstep also provides traders with a clear profit target to aim for. The profit target is based on the size of the Funded Account and is designed to be achievable but challenging. This helps to ensure that traders are not taking excessive risks in pursuit of profits.
Finally, Topstep offers a trailing max drawdown feature to help traders manage their risk. This feature sets a maximum drawdown percentage for each trading day, and if the trader’s account reaches this level, all open positions are automatically closed. This helps to prevent traders from losing more than they can afford.
In summary, Topstep offers several tools to help traders manage their risk and maximize their profits. From daily loss limits to profit splits and profit targets, Topstep provides traders with a clear path to success.
Trading Resources and Support
Topstep offers a wide range of resources to help you become a successful trader. Their educational resources include videos, webinars, blogs, and the Limit Up! podcast. These resources are designed to build your knowledge and confidence so that you can approach the markets like a pro.
In addition to their educational resources, Topstep also provides support through their customer service team. If you have any questions or concerns, you can submit a request and connect with like-minded traders and Topstep Ambassadors. Their in-house Performance Coaches are available 24/7 to help with almost any request. This is a great way to find a trading buddy or friend who can help you navigate the markets.
Topstep also has a trading community that you can join. This community includes traders who are also going through the Trading Combine program. You can connect with other traders, ask questions, and share your experiences. Topstep also has a Discord channel where you can chat with other traders and get real-time support.
If you’re looking for coaching, Topstep has you covered. Their Performance Coaches are experienced traders who can help you improve your skills, discipline, and habits. They can provide personalized coaching and help you develop a trading plan that works for you.
Overall, Topstep provides excellent resources and support to help you become a successful trader. Whether you’re just starting out or you’re an experienced trader, Topstep has something for everyone.
Trading Environment and Education
When it comes to trading, having a supportive environment and access to quality education can make all the difference. Topstep provides a simulated trading environment that allows you to practice your trading skills without risking real money. This is a great way to develop your trading habits and test out different strategies before putting your own capital on the line.
Topstep also offers a variety of educational resources to help you improve your trading skills. From free group coaching to one-on-one mentorship, you can access the support you need to become a successful trader. The company’s Trading Combine program is designed to help you develop the skills and discipline necessary to succeed in the markets.
In addition to the simulated trading environment and educational resources, Topstep provides access to real-time data feeds and advanced order types. This allows you to make informed trading decisions and execute your trades with precision. The company also tracks your trading performance and provides detailed analytics to help you identify areas for improvement.
One unique feature of Topstep’s trading environment is its focus on preventing prohibited conduct and gambling behavior. Accounts that exceed 200 total contracts in a single trade day are subject to review by the company’s Risk & Compliance Team. This ensures that all traders are following the rules and trading responsibly.
Overall, Topstep provides a supportive trading environment and access to quality education and resources to help you improve your trading skills and achieve success in the markets.
Account Options and Pricing
When it comes to account options and pricing, Topstep offers two main account types: the Trading Combine and the Live Funded Account. The Trading Combine is a program designed to help traders build better skills, discipline, and habits as they are evaluated for funding. Pass the Trading Combine and unlock a Funded Account in as little as 2 days. Topstep Funded Traders™ can pay themselves up to 4 times a month.
The Live Funded Account is for traders who have successfully passed the Trading Combine and are ready to trade with real money. The Live Funded Account offers traders a chance to trade with up to $500,000 in buying power. The account sizes range from $30,000 to $150,000, with the option to increase your account size at any time.
Topstep offers competitive pricing for its services. The monthly subscription fee for the Trading Combine is $150 per month. Your credit card is set to charge you once a month from the day you sign up for Trading Combine. Your monthly payment will automatically be charged to your card unless you change the card or cancel. If you paid via PayPal, the monthly fee will be debited from your account once a month until you cancel.
In the Live Funded Account, there are no subscription fees, but traders are required to pay exchange fees. Traders would need to subscribe to CME, CBOT, NYMEX, and COMEX to trade all of the Permitted Products, which would cost $464 or $488 per month. Due to CQG data fees, the cost per exchange per month is higher on the Tradovate platform compared to other available platforms.
Topstep provides traders with leverage of up to 100:1, which means that for every $1 in your account, you can trade up to $100 worth of securities. This allows traders to maximize their buying power and potentially increase their profits.
Overall, Topstep offers a competitive pricing structure and account options that cater to traders of all levels. With the Trading Combine and the Live Funded Account, traders have the opportunity to build their skills and trade with real money, all while keeping costs low.
Topstep offers a range of additional features to help traders meet their objectives. Here are some of the key features:
Topstep provides traders with a range of trading options, including futures and forex. This allows traders to diversify their portfolios and take advantage of different market conditions.
Topstep offers a range of instruments for traders to trade, including stocks, indices, commodities, and currencies. This allows traders to take advantage of different market conditions and find the instruments that work best for them.
Topstep’s Swift program is designed to help traders develop their skills and build their confidence. The program provides traders with access to a range of educational resources, including webinars, videos, and articles.
Topstep’s Apex program is designed to help traders take their trading to the next level. The program provides traders with access to advanced trading tools and strategies, as well as personalized coaching and support.
Giveaways and Promotions
Topstep regularly offers giveaways and promotions to its traders. These can include free trading capital, discounts on trading fees, and other incentives.
Topstep is active on social media, providing traders with regular updates on market conditions, trading strategies, and other relevant information.
Topstep TV is Topstep’s video channel, providing traders with access to a range of educational videos and webinars.
Overall, Topstep offers a range of additional features designed to help traders meet their objectives and take their trading to the next level. With a range of trading options, instruments, and educational resources, Topstep provides traders with everything they need to succeed in the markets.
Issues and Resolutions
When it comes to trading, there are always going to be issues that arise. However, Topstep has put measures in place to ensure that these issues are resolved as quickly and efficiently as possible. Here are some common issues that traders may encounter and their corresponding resolutions:
If you experience any billing issues, such as being charged incorrectly or not receiving a payment, you can contact Topstep’s customer support team. They will work with you to resolve the issue and ensure that you are not charged incorrectly in the future.
Withdrawal of Funds
Topstep has a clear payout policy that outlines how traders can withdraw their funds. After the first $10,000 of funds have been received by the trader, the profit split will become 90/10, with the trader receiving 90% of payouts and Topstep retaining 10% of the requested payout. The payout policy is per trader and can be applied across multiple funded accounts. You will keep 100% of your profits until your payouts across Funded Accounts exceed $10,000.
Day Trading Limits
All trading accounts that have any trading day that exceeds 200 total contracts will be subject to review by Topstep’s Risk & Compliance Team. This is to ensure that traders are not engaging in prohibited conduct, gambling behavior, or exploiting the simulated environment. If Topstep identifies trading activity that relates to prohibited conduct, it reserves the right to delete the trading day and all profits, restart the account, or close the account. It is important to follow Topstep’s rules and guidelines to avoid any issues with day trading limits.
Overall, Topstep has a clear and transparent approach to resolving issues that may arise. Whether it’s a billing issue, withdrawal of funds, or day trading limits, Topstep’s customer support team is available to help traders resolve any issues they may encounter.
Conclusion: Is Topstep Legit?
Based on the research and information gathered, Topstep appears to be a legitimate platform for traders looking to improve their skills and potentially earn funding. The company has a strict policy against prohibited conduct and takes measures to ensure that traders are following the rules and regulations set in place.
While success is not guaranteed, many traders have been able to pass the Trading Combine and become funded traders with Topstep. The Consistency Target also helps traders focus on maintaining a consistent level of profitability, which can lead to long-term success.
In terms of value, Topstep’s pricing structure may seem steep for some traders, but the potential for earning funding and the educational resources provided may outweigh the cost for those serious about improving their trading skills.
Overall, Topstep seems to be a reputable platform for traders looking to improve their skills and potentially earn funding. However, as with any trading platform, it is important to do your own research and make informed decisions before investing your time and money.