OneUp Trader VS Topstep

OneUp Trader VS Topstep - Comparison Funded Frogram

Overview

This review takes a look at the main differences between Topstep and OneUp Trader, both pre-eminent prop firms offering aspiring traders the chance to showcase their trading skills in order to gain access to funding. Each firm has its own particular approach and will be better suited to different traders, according to how much experience they have and what their needs are.

OneUp Trader, a prop trading firm based in Wilmington, Delaware, identifies skilled traders and facilitates their access to funding following an evaluation procedure. Those who succeed will be able to trade with capital ranging from $25,000 to $250,000, with monthly fees depending on plan, but no upfront costs.

The firm’s evaluation is pretty straightforward: you just need to reach the set profit target. Once you’ve accomplished this, you retain the entirety of the first $10,000 you generate in profits, after which the profit share is 90% – without any additional withdrawal fees. Withdrawals are subject to a $1,000 minimum requirement and can be made right from the start. Limitations on drawdown are implemented on a daily and trailing basis, rather than with an overall cap.

OneUp Trader works with 15 trading platforms, and they also offer excellent training and educational materials, valuable performance analytics that can be accessed straight from your dashboard, a forgiving two-strike policy for account violations and a generous referral program.

With more than a decade of experience, Topstep is an industry giant. Located in the US, the firm collaborates with leading prop trading platforms including NinjaTrader and Tradovate, which serve as both trading platforms and brokerages. However, their most attractive feature is probably the firm’s own exclusive platform, TopstepX™. Combining the expertise of elite trading professionals and software designers, the platform offers Topstep the “Ultimate Trading Xperience™”, seamlessly integrating all of Topstep’s features.

A further unique advantage to Topstep is TopstepTV™, a live-streaming experience in which viewers can observe expert traders executing live trades and debating market trends and all the latest economic news. This broadcast also includes practical trading tips, community statistics, exciting guest appearances and awards for the firm’s top performers.

Topstep account sizes range between $50,000 and $150,000, with profit targets and maximum drawdowns varying accordingly. All the top futures contracts are available to trade, including the E-mini S&P 500 and NASDAQ 100, crude oil, gold, micro crude oil, micro gold and micro bitcoin, as well as interest rate futures.

Screenshot 147 OneUp Trader VS Topstep
Screenshot 151 OneUp Trader VS Topstep
OneUp Trader is best for: Topstep Trader is best for:
Traders looking for a swift evaluation with fast access to funding. Beginners requiring lots of educational materials.
Those valuing a range of different account sizes. Futures traders looking for a strong simulated trading platform.
Traders who don’t want to pay data fees. Traders for whom it helps to have a profit target to aim for.
Those appreciating a strong trading community to exchange insights. Traders who find stringent risk management rules helpful to keep their trading disciplined.

Key Features ONEUP and Topstep

OneUp Trader’s diverse range of accounts mean there’s one to suit every trader, whatever their appetite for risk and capital requirements. The swift evaluation and access to funding make the firm an appealing option for traders keen to start trading live as early as possible.

Topstep’s more structured environment is ideal for those seeking a clearly defined path in their trading careers. The discipline fostered by the Trading Combine® program, as well as unrivalled educational resources, mean Topstep will work well for traders who want to establish a solid foundation for their trading.

The table below compares all the main features and rules of the two firms.

Feature OneUp Trader Topstep
Challenge Step 1-Step Evaluation 1-Step/1-Rule
Challenge Account Sizes $25,000, $50,000, $100,000, $250,000 $50,000, $100,000, $150,000
Profit Target $1,500 to $15,000 $,3000 to $9,000
Challenge Cost $125 - $650/month $49 - $149/month
Minimum Trading Days 15 days 2 days
Payout Split 90/10 (trader/firm) Keep 100% on first $10,000 profits 90/10 (trader/firm) Keep 100% on first $10,000 profits
Maximum Position Size 3 to 25 contacts 5 to 15 contracts
Max Loss Limit No daily Loss Limit $2,000 to $4,500

Additional Points:

OneUp Trader: The firm gives traders an unlimited number of balance resets. They also offer a week-long free trial for you to familiarise yourself with the platform. The OneUp Trader Express Account enables traders with more experience to expedite the evaluation process to just five days, so they can use their past performance for quicker access to funding.

Topstep: Topstep keeps matters straightforward by imposing one single, important rule: don’t exceed the maximum loss limit. Unlike some prop firms that track unrealised gains, Topstep concentrates on your end-of-day account balance, offering a greater degree of flexibility – and less worry over intraday fluctuations.

Topstep’s Performance Coaching Plan is priced at $395 per month or is included free of charge with funded accounts. This all-inclusive program provides customised advice, daily check-ins, weekly coaching sessions, and access to the firm’s exclusive trading community.

Deeper Dive into OneUp vs. Topstep

The next table goes into greater detail about the rules of the OneUp Trader and Topstep programs.

Rule Category OneUp Trader Topstep Trader
Allowed Instruments Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures. Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures.
Scalping Allowed Allowed
Day Trading Allowed Allowed
Swing Trading Allowed Not Allowed
Holding Positions Overnight Not Allowed Not Allowed
Holding Positions Over Weekends Not Allowed Allowed
News Trading Allowed Allowed

Maximum Daily Loss (MDL):

  • Topstep:Topstep puts responsible risk management front and centre with a maximum loss limit, which is based on the previous day’s closing balance – an approach which provides traders greater flexibility to deal with market swings. Maximum loss limits vary according to account size:
    • $50K Trading Combine: $1,000
    • $100K Trading Combine: $2,000
    • $150K Trading Combine: $3,000
  • OneUp Trader:Trailing drawdown stops at your account’s starting balance, and there isn’t a daily loss limit for evaluation or funded accounts.

Withdrawal:

  • Topstep:Topstep’s withdrawal policy requires you to accumulate five winning days with a minimum profit of $200 each (they don’t have to be in a row) in order to be able to withdraw 50% of your account balance, or 30 winning days for the full amount. Withdrawals are processed quickly – within seven hours – and you’ll receive them in just one or two working days.
  • OneUp Trader: As soon as you qualify for funding and start generating profits, you’ll be able to withdraw any amount above $1,000. Withdrawal requests are processed efficiently on the same day as you make them.

Leverage:

Leverage Futures OneUp Trader Topstep Trader
Futures 1:1 1:1

OneUp Trader vs. Topstep: Pros and Cons

OneUp Trader:

Pros

Cons

Topstep:

Pros

Cons

Conclusion

OneUp Trader and Topstep both distinguish themselves as excellent options in a prop trading industry where there’s plenty of choice. Both empower aspiring traders who can pass their evaluations with access to significant levels of real funding, but their approaches differ somewhat.

Topstep, an industry veteran, has paved the way for relative newcomers such as OneUp Trader.  Both firms operate on the same core principle, but OneUp Trader provides even more options to traders partnering with them, while Topstep excels on the educational front.

Do keep in mind that this piece should be thought of as an overview, and before making any commitments it’s a good idea to do some further independent research, considering how elements like pricing structures, profit-sharing models, account sizes and regulations will work for you personally: your financial resources, aspirations, appetite for risk and trading experience.

OneUp Trader VS Topstep - Comparison Funded Frogram
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