Topstep is best known for its trader funding programs, which provide aspiring traders the opportunity to trade with firm trading capital. They offer evaluation combined programs where traders can demonstrate their trading skills by meeting certain metrics over a fixed period. Those who pass are provided with a funded trading account to trade futures, options, stocks, forex, and crypto.
The firm aims to find and develop talented retail traders through its two-step evaluation process and educational resources. They offer video tutorials, webinars, blog posts, and more to help skilled traders improve their trading skills. For funded forex traders, Topstep provides risk parameters, trading tools, 24/7 support, and payouts.
Overall, Topstep is an established, reputable futures prop firm ideal for new and experienced traders alike. With their selection of markets, account types, and valuable resources, Topstep gives successful traders the opportunity to trade in a professional environment with less personal financial risk. But is it the creme of the crop? Here is a TopStep review to determine this.
Learn More About TopStep
One of the best features of TopStepTrader is its no-fee trading platform, TSTrader. It doesn’t charge any fees for combined trades and only charges $0.79 per contract on a Funded Account. TSTrader has the basic charts you need and works on any device.
A Generous Profit Split: Initially, professional traders get to keep 100% of their profits up to $10,000. After that, there’s a profit-sharing arrangement of 90/10, where the trader receives 90% of the profits. This is a much higher percentage than most other proprietary firms
Multiple Trading Platform Options: You’ll have 14 different trading platforms to choose from while working towards a funded account. Whether you prefer NinjaTrader, MetaTrader 4, or another platform, TopStep likely supports it.
Education and Coaching Provided: Top Step Trader’s commitment to education and coaching enables not only beginners but also seasoned traders to learn new techniques to boost profitability. This includes day trading courses.
Group Coaching: This bi-weekly webinar is the perfect way to pick up new trading strategies and better understand the futures market without the pressure of a one-on-one call. Sessions take place every Monday and Wednesday at 1 PM CST.
Performance Coaching Plan: For those looking to accelerate their learning, the Performance Coaching Plan provides a monthly one-on-one review with your personal trading coach. At $395/month, this high-touch service is ideal if you want an expert guiding you each step of the way.
Digital Coaching: Coach T is TopStepTrader’s AI-powered digital coach. This automated program gives personalized feedback and recommendations based on your trading activity and results.
Thriving Community: One of the biggest benefits of TopStepTrader is joining their active community of traders. Whether you have questions about the futures financial market, need strategy advice, or want to connect with like-minded individuals, chat rooms and message boards are valuable resources.
TopStepTrader offers four membership plans for futures traders using their simulation platform. The plans provide increasing levels of buying power and profit targets to work towards.
$50k Buying Power
For $165 a month, you get $50,000 in buying power to trade up to 5 futures contracts. You need to make $3,000 in profits to advance to the next stage. There is a daily loss limit of $1,000 and a max drawdown of $2,000 before your account is reset.
$100k Buying Power
The $325 monthly plan provides $100,000 in buying power and allows you to trade up to 10 contracts. The profit target increases to $6,000 with a daily loss limit of $2,000 and a max drawdown of $3,000.
$150k Buying Power
For experienced traders, the $375 plan offers $150,000 in buying power and 15 contract positions. You’ll need to generate $9,000 in profits with a daily loss limit of $3,000 and a max drawdown of $4,500.
There is a 14-day free trial to try the platform, with no credit card required. However, if you blow up your account during the trial or as a paying member, TopStepTrader charges a $100 reset fee.
Is TopStep The Best Futures Proprietary Trading Firm
When determining the best futures prop trading firm for you, TopStep should definitely be at the top of your list. As one of the leading futures trading firms, TopStep offers new traders unparalleled opportunities to learn and advance in their trading careers.
At TopStep, you’ll be paired with a mentor who is an experienced trader. Your mentor will guide you through the TopStep program, providing coaching and advice to help you become a consistently profitable trader. Mentors have been where you are, so they understand the challenges and can help you avoid common pitfalls.
Before trading live markets with real money, you can hone your skills in TopStep’s simulated trading environment. The simulation platform mirrors live markets, so you get a realistic trading experience but without the risk.
This allows you to build confidence in your trading system and ensure you have developed the proper discipline and mindset for live trading. Click here to sign up for TopStep Trader and start your futures trading journey today. Remember to look out for promo codes and coupon links to save on your subscription fees.
The post Is TopStep The Best Futures Proprietary Trading Firm appeared first on Modest Money.