According to various Topstep Trader reviews, Topstep is one of the fastest-growing private companies in America, established in 2012. Traders created it for fellow traders to ensure that individuals attained financial freedom and reached their respective dreams.
Topstep Funded Account offers the best profit split of keeping the initial profit of $5,000 and 80% of subsequent profits. In addition, unlike other trading platforms, Topstep has no commissions.
What is a TopstepTrader Funded Account
A TopstepTrader Funded Account is a product of the successful completion of the TopstepTrader Combine Program. Through it, you prove that you can manage risks and gain profits. In addition, you can get a funded account once you have established your prowess by maintaining your earnings without going against the set rules.
The first step is to determine the size of your account, influenced by the initial amount, profit aim, loss limit, and maximum drawdown. After that, you will have to prove yourself by first meeting the profit threshold while holding to the rules. These include not exceeding the daily or monthly loss limit and trading allowed products at the specified times. Next, by following the same rules, you need to manage risks.
How TopstepTrader Funded Account Works
There are two ways of operating a TopstepTrader Funded account. If you are not sure of the account size to select, you can receive appropriate guidance to help you make the most suitable choice.
The account sizes are $50k, $100k, and $150k. With the proper selection, you can begin operating your funded account. These amounts are equivalent to $165, $325, and $375 per month, respectively. The most popular choice is the 50k plan. With it, your profit target per step is $3,000, a maximum position with five contracts, and a daily loss limit of $1,000.
The second step entails attaining a weekly loss limit of $1,000 and a trailing maximum drawdown of $2,000. Here are the products you can trade.
Screenshot from https://www.topstep.com/funding-opportunities/forex/
With Topstep Forex, the account sizes are $200k, $300k, and $500k. These are equivalent to a monthly amount of $125, $165, and $275, respectively. The most famous selection is the $300k one. Here’s a quick review of its features.
The profit target per step is $3,000 with a weekly loss limit of $2,000 at the first step. In the second step, the weekly loss limit is $1,000. The Account Loss Limit is $2,000. Unlike the Topstep Futures, you can only get a position by Friday 3:45 PM CT since all posts close by then. Here are the currency pairs you can use.
TopstepTrader Funded Account Platforms
Topstep offers its traders a trading platform which can either be TSTrader or Ninja Trader. Although these two receive a high recommendation, there are other platforms that one can use. However, they will charge you a commission of $0.53 per contract.
When using TSTrader, Topstep will not charge you any commission. As a result, Topstep stands out as the leading funded account program. You can trade various products, including EUREX products, and pay significantly discounted commissions.
Benefits of Investing with TopstepTrader Funded Account
When you invest with TopstepTrader Funded Account, you get more than funds. Since you are dealing with traders, they will help you attain the necessary skills through one-on-one coaching. These sessions are 30-minutes long. During this period, the coach will examine your trades, guide you on areas you ought to improve and help you formulate strategies to get you off bad practices.
There’s a live chat that opens avenues for connecting with traders and learning winning trading strategies. You will also stay updated on developing trends. Besides this, an interactive Squawk Radio broadcast daily helps listeners know more about market trends and receive ongoing updates.
Video and Blog Guides
As a holder of the TopstepTrader Funded Account, you can get access to a wide variety of resources to help you attain higher standards. These include videos and blogs. The videos guide you in making trading your career, while the blogs perfect your trading skills.
Topstep has a trader’s forum where you can freely ask questions, share resources, give feedback on products, and initiate discussions with fellow traders, among other things. The team at Topstep is also proactive in ensuring that they attend to all the queries and concerns raised at the forum. This feedback serves best in improving the platform.
You can further request withdrawals at any time and expect to receive them within seven working days from the requested day. When disbursing the amount, you will split 80% of the profit while the rest remains at TopstepTrader. For any amount less than $500, you will take care of the transfer fee.
However, if the payments are made via checks, PayPal, or US domestic banks, the withdrawal will be free. At the same time, Topstep Trader will cover the transfer costs of any amount above $500.
You can take your trading experience to the next level through the limit-up podcast and eventually attain your financial freedom. You can further explore different markets, learn trading strategies and gain more knowledge from successful traders.