Is Topstep Trustworthy? Unveiling the Secrets of a Premier Prop Firm

Is Topstep Trustworthy? Unveiling the Secrets of a Premier Prop Firm

Since 2012, Topstep has established itself as a top supplier of trading programs sponsored by futures. It’s a tempting choice for people who are new to trading because it provides a secure setting in which to develop.

Private companies such as Topstep are renowned for conveying important knowledge on risk management and discipline, which is critical for novice funded traders trying to make their way through the turbulent seas of the market and gain experience managing larger sums of money.

Many may be wondering if Topstep is trustworthy. This is an important question for anyone thinking about working for a prop company. You may gain a better understanding of Topstep’s features and determine if it’s the best platform to begin or continue your trading career by reading this review.

Why Trust Topstep

The most crucial aspect to consider when selecting a prop firm to collaborate with is credibility. You can check out its review and see how it compares against the best futures prop trading firms. With a 5 stars overall rating and an account size up to 150,000$, It is evident that they are a trustworthy private organization based on the abundance of positive evaluations available.

Pros of Topstep

Other key factors to keep in mind when choosing a trading firm include the benefits the best prop trading firms have to offer. The following are the principal advantages of partnering with Topstep:

  • Accessible Starting Capital: New traders can start trading more easily and without the burden of financial strain thanks to the low initial capital requirements.

  • Support for Multiple Trading Platforms: Provides interoperability with a range of platforms, accommodating a range of trading techniques and user preferences, such as TSTrader, TradingView, and NinjaTrader.

  • Rich Educational Resources: Offers a variety of learning materials that are appropriate for traders of all skill levels, including daily live trading classes, trading psychology lectures, and live professional trader sessions.

  • Group and Performance Coaching: Offers a bi-weekly webinar for group coaching as well as a customized performance coaching plan.

  • Digital coaching and community engagement: Makes use of “Coach T,” a digital tool for tracking performance and customizing trading programs, in conjunction with a thriving community for discussion and input.
  • 14-Day Trial: Gives new users a two-week trial time to try the service and assess the features and advantages of the platform without having to commit right away.

Cons of Topstep 

Topstep is considered a dependable prop trading firm, but it may have certain disadvantages. The following are some limits you should be aware of:

  • Strict Conditions for Funding: Meticulous guidelines must be followed in order to achieve funded status, and not all trading methods or skill levels may be compatible with them.
  • Dues for Membership: Even with the reduction, fees are still a factor that participants must weigh in when assessing the service’s cost-benefit ratio.
  • Complex Account Options: It can be difficult to distinguish between Pro, Funded, and Premium Funded accounts; it will take some time to become familiar with each one’s unique requirements and advantages.
  • Profitability Requirements for Withdrawal: Consistent performance is required, and traders must achieve five successful days with profits over $100 in order to withdraw their money.
  • Exchange Data Costs: Traders must continue to pay monthly exchange data costs, unless they have a free Pro Account. This increases the total cost of trading even after they have reached funded status.

Terms and Conditions 

Topstep has certain policies in place, much like any other proprietary trading firm. These policies are set to protect the company’s capital. Below is a summary of the main guidelines that traders need to adhere to:

  • One important Trading Combine regulation is the Maximum Loss Limit. To be eligible for funding, traders must refrain from exceeding a pre-agreed upon maximum during the course of two trading days. This emphasizes how crucial risk management is and is essential to moving in the direction of a funded account.
  • Profit Objectives: $3,000 for a $50k account, $6,000 for a $100k account, and $9,000 for a $150k account, depending on the account size within the Trading Combine®. In order to encourage steady trading as opposed to relying on “home run” deals, profits from single trades that surpass 50% of these targets are not included.
  • Consistency objective: By guaranteeing that no day’s profit exceeds 50% of the total profit objective, this promotes consistent trading methods as opposed to abruptly large gains.
  • Resets & Commissions: A reset fee is imposed in the event that rules are broken, especially the maximum loss limit. This is consistent with Topstep’s dedication to methodical trading. Platform and trade type-specific commissions and transaction fees have an effect on overall profitability.
  • Prohibited Behavior: In the virtual world, traders should keep an eye out for unethical trading practices. Disqualification results from using delayed data feeds for competitive advantage, linking accounts, and applying scalping algorithms. By doing this, the Trading Combine’s fairness and integrity are preserved.

Key Takeaways

Offering a strong platform for both new and seasoned traders, Topstep has made a name for itself in the futures funded trader program industry since its founding in 2012. Topstep offers a nurturing atmosphere for learning and developing in the trading world with its emphasis on risk management and discipline.

With its many advantages, such as its minimal initial capital needs, support for numerous trading platforms, extensive training materials, and one-on-one coaching, Topstep is a great option for anyone wishing to get started or progress in their trading career.

If you’re unsure if Topstep is the best option for you, you can test out all the features and advantages for free during their 14-day trial. Are you prepared to advance in your trading career?

Funded Program eBook Mockup

Free Today: Unlock $25 Value!

This valuable report will guide you step-by-step on how to pass your prop challenge the first time and keep it. Usually priced at $25, absolutely free. Claim yours now!