TopstepTrader Review

Are you a forex trader or aspiring to become one? Do you want to trade with real money without risking your own capital? Do you want to learn from the best and improve your skills, discipline, and habits? If you answered yes to any of these questions, then you might be interested in TopstepTrader, a company that offers a funded trader program for forex traders.

In this article, we will review TopstepTrader, explaining how it works and how you can succeed in their program. Let’s get started!

TopstepTrader
TopstepTrader

What is TopstepTrader and how does it work?

TopstepTrader is a company that was founded in 2010 by Michael Patak, a former floor trader at the Chicago Mercantile Exchange. The company’s mission is to help traders build better skills, discipline, and habits, as they are evaluated for funding.

TopstepTrader offers a funded trader program for both futures and forex traders. In this article, we will focus on the forex program, which was launched in 2018. The forex program works as follows:

  • First, you have to pass a Trading Combine challenge, which is a simulated trading account with rules and objectives. The challenge consists of two steps: Step 1 and Step 2.
  • Second, if you pass the challenge, you unlock a Funded Account, where you can trade with TopstepTrader’s capital and keep a percentage of the profits.

The Trading Combine challenge and the Funded Account have different rules and features, which we will explain in more detail below.

What is the TopstepTrader Trading Combine challenge?

The TopstepTrader Trading Combine challenge is the first step to join TopstepTrader’s funded trader program. It is a simulated trading account where you have to prove your trading skills and follow the rules. The challenge has two steps: Step 1 and Step 2. Each step has different objectives and requirements.

Step 1

Step 1 is the first stage of the challenge. You have to choose an account size. The account size determines your maximum drawdown, your profit target, and your challenge fee.

The maximum drawdown is the maximum amount of money you can lose from your highest point of equity. The profit target is the minimum amount of money you have to make to pass the step. The challenge fee is the one-time payment you have to make to join the challenge.

In addition to these objectives, you also have to follow some rules in Step 1:

  • You have to trade at least 5 days within 15 calendar days.
  • You cannot hit or exceed your maximum drawdown limit at any point.
  • You cannot trade more than 15 lots per trade or 30 lots per day.
  • You cannot hold positions over major economic releases.
  • You cannot trade outside of the permitted trading hours (6 AM – 4 PM CT Monday – Thursday; 6 AM – 3:15 PM CT Friday).

If you meet these objectives and rules, you pass Step 1 and move on to Step 2. If you fail to meet them, you have two options: either start over with a new account or use the retry option. The retry option allows you to reset your account balance and trading days for a fee. The fee depends on your account size. You can use the retry option as many times as you want until you pass Step 1.

Step 2

Step 2 is the second and final stage of the challenge. You have to choose an account size. The account size determines your maximum drawdown, your profit target, and your challenge fee.

The maximum drawdown is the maximum amount of money you can lose from your highest point of equity. The profit target is the minimum amount of money you have to make to pass the step. The challenge fee is the one-time payment you have to make to join the challenge.

In addition to these objectives, you also have to follow some rules in Step 2:

  • You have to trade at least 10 days within 60 calendar days.
  • You cannot hit or exceed your maximum drawdown limit at any point.
  • You cannot trade more than 15 lots per trade or 30 lots per day.
  • You cannot hold positions over major economic releases.
  • You cannot trade outside of the permitted trading hours (6 AM – 4 PM CT Monday – Thursday; 6 AM – 3:15 PM CT Friday).

If you meet these objectives and rules, you pass Step 2 and unlock a Funded Account. If you fail to meet them, you have two options: either start over with a new account or use the retry option. The retry option allows you to reset your account balance and trading days for a fee. The fee depends on your account size. You can use the retry option as many times as you want until you pass Step 2.

How to pass the TopstepTrader Trading Combine challenge?

Passing the TopstepTrader Trading Combine challenge is not easy, but it is not impossible either. You have to demonstrate that you have the skills, discipline, and habits of a professional trader. Here are some tips and advice on how to pass the challenge:

  • Follow the rules: This is the most important tip. The rules are there for a reason: to protect you and TopstepTrader from excessive losses and risks. If you break any rule, you will fail the challenge and waste your time and money. Therefore, make sure you understand and follow the rules at all times.
  • Manage your risk: Risk management is crucial for any trader, especially when trading with someone else’s money. You have to control your emotions, avoid overtrading, use stop losses, respect your maximum drawdown limit, and trade with a reasonable position size. A good rule of thumb is to risk no more than 1% of your account per trade.
  • Be consistent: Consistency is key for passing the challenge. You have to trade with a consistent strategy, style, and frequency. You have to trade at least 5 days in Step 1 and 10 days in Step 2, but you should not trade too much or too little. You should aim for steady and realistic profits, rather than chasing big wins or recovering big losses.
  • Use a trading plan: A trading plan is a document that outlines your goals, strategy, rules, and performance indicators. It helps you stay focused, disciplined, and accountable. You should have a trading plan before you join the challenge and follow it throughout the challenge. You should also review your trading plan regularly and adjust it if necessary.
  • Learn from feedback: TopstepTrader provides feedback and support to help you improve your trading skills and habits. You can access their educational resources, such as webinars, podcasts, blogs, etc . You can also contact their customer service team or join their community of traders for any questions or issues . You should take advantage of these resources and learn from them as much as possible.

What is the TopstepTrader Funded Account?

The TopstepTrader Funded Account is the reward for passing the Trading Combine challenge. It is a real trading account where you can trade with TopstepTrader’s capital and keep a percentage of the profits. The Funded Account has different rules and features, which we will explain below.

TopstepTrader Funded Account features

The TopstepTrader Funded Account has the following features:

  • Capital: You can trade with up to $500K of TopstepTrader’s capital, depending on your account type and performance.
  • Profit split: You can keep 80% of the profits you make in the Standard Funded Account and 85% of the profits you make in the Pro Funded Account.
  • Growth: You can increase your capital by 25% every time you reach a new profit target, up to a maximum of $2 million.
  • Reset: You can reset your account balance to the original amount once every 4 months, in case you suffer a significant loss or hit your maximum drawdown limit.
  • Withdrawal: You can withdraw your profits at any time, as long as you meet the minimum withdrawal amount of $500 and have a positive account balance.

TopstepTrader Funded Account rules

The Funded Account has the following rules:

  • Maximum drawdown: You cannot lose more than 10% of your account balance from your highest point of equity. If you hit or exceed your maximum drawdown limit, you will lose your Funded Account and have to start over with a new Trading Combine challenge.
  • Position size: You cannot trade more than 15 lots per trade or 30 lots per day.
  • Economic releases: You cannot hold positions over major economic releases, such as Non-Farm Payrolls, FOMC, etc.
  • Trading hours: You can trade anytime between Sunday 5 PM CT and Friday 3:15 PM CT, except for major holidays.

How to succeed in the TopstepTrader Funded Account?

Succeeding in the TopstepTrader Funded Account is not only about making profits, but also about maintaining them. You have to trade with the same skills, discipline, and habits that you used to pass the Trading Combine challenge. Here are some tips and advice on how to succeed in the Funded Account:

  • Follow the rules: This is still the most important tip. The rules are there to protect you and TopstepTrader from excessive losses and risks. If you break any rule, you will lose your Funded Account and have to start over with a new Trading Combine challenge. Therefore, make sure you understand and follow the rules at all times.
  • Manage your risk: Risk management is still crucial for any trader, especially when trading with someone else’s money. You have to control your emotions, avoid overtrading, use stop losses, respect your maximum drawdown limit, and trade with a reasonable position size. A good rule of thumb is to risk no more than 1% of your account per trade.
  • Be consistent: Consistency is still key for succeeding in the Funded Account. You have to trade with a consistent strategy, style, and frequency. You should aim for steady and realistic profits, rather than chasing big wins or recovering big losses. You should also avoid changing your trading plan or style too often or too drastically.
  • Use a trading plan: A trading plan is still a document that outlines your goals, strategy, rules, and performance indicators. It helps you stay focused, disciplined, and accountable. You should have a trading plan before you join the Funded Account and follow it throughout the Funded Account. You should also review your trading plan regularly and adjust it if necessary.
  • Learn from feedback: TopstepTrader still provides feedback and support to help you improve your trading skills and habits. You can access their educational resources, such as webinars, podcasts, blogs, etc . You can also contact their customer service team or join their community of traders for any questions or issues . You should take advantage of these resources and learn from them as much as possible.

TopstepTrader Coupon Codes & Discount

If you are looking for a way to save some money when joining TopstepTrader, you might be interested in using coupon codes. Coupon codes are special codes that you can enter when paying for your Trading Combine challenge and get a discount on the fee. Coupon codes are a great way to reduce your initial investment and increase your chances of passing the challenge. However, coupon codes are not always available and they may expire or change over time. Therefore, you should always check the validity and terms of the coupon code before using it.

Conclusion

TopstepTrader is a good idea from my perspective. It benefits both traders and Topstep themselves, giving a chance for traders with little capital to trade full-time whilst forcing you to have high standards for your trading. The program is designed to help you manage risk, hone strategies, and become successful. It rewards sound risk management and helps build productive habits.

If you are considering a service such as TopstepTrader, you could spend plenty of time practising your trading strategy on another trading platform such as MetaTrader 4 (MT4). You could do this until you are extremely confident that you will be able to reach the minimum requirements to get a funded account. That way, you increase your chances of not wasting the fee required for a simulation account.

Regardless, TopstepTrader can be a great way to see if you are a profitable trader and to challenge yourself to reach the goals that they set. If you are one of the few who manage to successfully pass the simulation stage, you can get a funded account to trade on behalf of the firm.

FAQ

What is TopstepTrader’s maximum drawdown?

TopstepTrader’s maximum loss limits are $2,000 for $50,000 account, $3,000 for $100,000 account, and $4,500 for $150,000 account.

What is TopstepTrader’s profit target?

TopstepTrader’s profit targets are $3,000 for $50,000 account, $6,000 for $100,000 account, and $9,000 for $150,000 account.

What are TopstepTrader’s minimum and maximum trading days?

Based on the web search result, it seems like TopstepTrader has minimum trading days of 4 days and no maximum trading days.

What are TopstepTrader’s challenge fees?

TopstepTrader’s challenge fees are $49/month for $50,000 account, $99/month for $100,000 account, and $149/month for $150,000 account.

Does TopstepTrader offer a retry?

Based on the web search results, it seems like TopstepTrader does not offer a retry.

Does TopstepTrader offer a fee refund?

Based on the web search results, it seems like TopstepTrader does not offer a fee refund.

What is TopstepTrader’s profit split?

Based on the web search results, it seems like TopstepTrader offers a profit split of up to 90% after the traders take the entire first $10,000 profits they make.

Does TopstepTrader offer a scaling plan?

Based on the web search results, it seems like TopstepTrader offers a scaling plan.

Does TopstepTrader allow expert advisors?

Based on the web search results, it seems like TopstepTrader’s policy on expert advisors is not clearly stated.

Does TopstepTrader offer a free trial?

Based on the web search results, it seems like TopstepTrader offers a free trial.

What is TopstepTrader’s mininum deposit?

Based on the web search results, it seems like TopstepTrader does not have a minimum deposit.

What are TopstepTrader’s brokers?

Based on the web search results, it seems like TopstepTrader uses NinjaTrader Brokerage, Tradovate Brokerage, and Cunningham Brokerage.

What are TopstepTrader’s platforms?

Based on the web search results, it seems like TopstepTrader uses all Rithmic platforms, Tradovate, TradingView, and MT4.

What is TopstepTrader’s leverage?

Based on the web search results, it seems like TopstepTrader offers leverage of 1:100.

Is TopstepTrader legit?

You might also wonder if TopstepTrader is legit or not. After all, it sounds too good to be true that someone would give you up to $500K to trade with and let you keep most of the profits. Well, there are lots of individuals who are making use of TopstepTrader and consider TopstepTrader as a legitimate company. TopstepTrader is also regulated by the National Futures Association (NFA) and complies with all the rules and regulations of the industry.

TopstepTrader are not really selling you anything or asking you to recruit others. They are simply offering you an opportunity to prove yourself as a trader and earn their trust and capital. They make money from the challenge fees, the profit splits, and their own trading activities. They also have a risk management team that monitors and controls the exposure and performance of the funded traders.

TopstepTrader is a reputable and transparent company that has a proven track record and a positive reputation in the trading community. You can check their website, social media, blog, podcast, webinars, etc., for more information and testimonials from their funded traders. You can also contact their customer service team or join their community of traders for any questions or issues.

TopstepTrader’s alternatives

If you are looking for alternatives to TopstepTrader, you might want to consider Leeloo Trading, FTMO, The Funded Trader, FundedNext, E8 Funding, City Traders Imperium, and so on.

It is important for you to do your own research and compare prop firms before concluding on the prop firm to invest in.

TopstepTrader

$150
7.8

Features

8.0/10

Challenges

8.0/10

Value

7.5/10

Pros

  • Practice trading
  • Funded account
  • Simulation trading
  • Analysis tools
  • Various instruments
  • Multiple asset classes
  • Competitive fees
  • Good customer support

Cons

  • Quite complex to setup
  • Requires some user initiative
  • Not ideal for beginners
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