Topstep Review

Topstep Review 2024

Topstep is the industry leading futures prop trading firm. They fund traders around the world and focus on teaching them how to build a successful trading career.

Topstep offers a unique opportunity to earn funding through its futures funding program. To qualify for a funded account, you must pass through an evaluation process known as the Topstep Trading Combine.

The Trading Combine is designed to assess your ability to adhere to rules and manage risk rather than simply measuring your trading skills. By completing the Trading Combine, traders can demonstrate their commitment and potential for success, making them eligible for funding through Topstep.

One of the key benefits of the Topstep account funding program is that it allows you to increase your buying power by leveraging your profits rather than simply increasing your funding. This means that even successful traders can continue to see their buying power grow as they make profitable trades.

The Trading Combine is an experiential learning and evaluation program for futures traders. Traders grow and test their skills in a simulated markets and earn funding upon achieving certain trading objectives. While earning a Funded Account® is the ultimate goal, the discipline and habits promoted by the Trading Combine benefit traders of all experience levels.

With all the resources, it really seems like Topstep encourages traders to succeed and provides them with the tools they need to achieve this. The fees to use Topstep include the monthly subscription, which comes in three tiers depending on your initial simulated fund, and the fee for professional coaching, should you need it. Topstep offers a unique program called The Trading Combine, with three different account sizes, which have a monthly recurring cost. Pricing varies according to the size of the simulated account – the least expensive account, with a $50,000 starting balance, costs $49/month, while the most expensive account, with a $150,000 starting balance, costs $149/month.

  • $50k Account · $49 · REGULARLY $165
  • $100k Account · $99 · REGULARLY $325
  • $150k Account · $149 · REGULARLY $375
The program is simply a demo account, i.e., a simulated account, in which you can trade with the account size you choose and pay for. Note that while Topstep offers a 14-day Free Trial, trades made during this trial are not considered for promotion to a funded account.

Note: Once you become funded trader with Topstep, you’ll have to pay a one-time activation fee of $149 per funded account earned. The activation fee helps cover the costs associated with evaluating and onboarding new funded traders, as well as the ongoing support and services provided by the prop firm while you are funded.

  • Up to 5 Express Funded Accounts (XFA)
  • Automated XFA Creation within minutes

Topstep has a number of built-in trading platforms that traders are able to use during their simulations and for their funded accounts.

Topstep supports over 13 platforms, including NinjaTrader and TSTrader. You can use Topstep for as long as it takes to reach the trading goal and prove that you can meet their targets. Keep in mind that you do have to pay a monthly fee, which means the longer it takes, the more money it will cost you.

Their proprietary trading platform, TSTrader, offers commission-free trading during simulations. This charting software has an intuitive interface and has a lot of useful features, including the ability to set hotkeys, plot trendlines and retracements, and buy + sell straight from the charts. The platform also includes a basic stock news ticker page, and the page lets you to track your profits-and-losses during the simulation period.

TS offers traders a replay function so they can analyse a previously executed trade and learn whether its performance was successful or not. The replay functionality is somewhat limited in terms of options, as there is no way to fast-forward to a specific time point or to choose specific asset classes to replay.

To get a funded account, Topstep requires traders to prove that they can trade safely and successfully. In other words, you must demonstrate that you can trade without losing capital in the process. To evaluate traders on these two requirements, there are several rules that must be achieved in order to achieve a funded account. The rules are as follows:

The 1-Step. 1 Rule of the Trading Combine

Pass the Trading Combine and unlock a Funded Account in as little as 2 days.

  • Trade allowed assets during permitted times.

○ Tradovate/Rithmic automation enabled to close out all open positions and working orders before the market closes. The risk management team will continue to close CTS accounts’ positions manually each day.

  • Daily Loss Limit. This is a strict rule and will be calculated intraday on unrealized PnL
  • Trailing Max Drawdown / Maximum Loss Limit 

○ This calculates at the end of the day so you can break it intraday as long as you finish back above by the end of the day.

  • Consistency Target

○ Best Day below 50% of the total profit made which means your greatest winning day cannot be more than 50% of your total profits.  

  • No Minimum Trading Days

Topstep trading hours:

Positions are not allowed to be held on trading days between 3:10 p.m. and 5:00 p.m. Central Time on Trading Combine accounts (in Swing Trading Combine is allowed). Some futures markets close before 3:10 p.m. Central Time. If you are trading one of these products, you must exit that market before the daily close of the products. You should also take into account the days considered holidays according to the CME Protocol.

More info about the Topstep rules an trading hours at www.topstep.com.

Traders earn funding by passing the evaluation phase which consist of a 1-Step challenge. This means reaching the Topstep profit target, whilst achieving the trading objectives. 

Topstep’s trading objectives aren’t random obstacles, they are tried, and true risk management tools developed by their professional traders. Follow them and you will become a more disciplined trader.

The process of getting funded with Topstep is quite simple. You can earn funding in as little as 2 days and pay yourself up to 4 times a month! Once you have completed 1-Step challenge, Topstep will email you your login details.

If you use our link to sign up, you’ll have access to a 14-day free trial, so you can try out the platform before committing to a monthly plan.

For efficiency, it’s important to keep in mind the following steps that need to be completed:

  • Complete the Funded Account Agreement and verify your email address to avoid delays.
  • Submit payment for live market data as soon as possible.
  • Review the rules for your funded account, including commissions and fees. 

It’s important to note that failure to complete these steps may result in your Funded Account being considered abandoned. By staying on top of these requirements, you can get funded as quickly as possible.

With Topstep, Futures traders have all the tools they need to improve their day trading skills and become professional funded traders. This can make the platform seem appealing to beginners who want to get started in the industry. However, it’s never guaranteed that traders will receive a funded account.

Topstep’s patented coaching routine, Prep–Trade–Reflect™, makes it easier to build daily trading habits that help traders achieve consistent performance. This methodology is instilled across all their coaching services. Good habits are crucial when it comes to trading, and it’s much easier to develop those habits and stick to a solid routine with someone by your side. That’s why Topstep offers coaching services, it gives traders access to useful educative tools for their big-picture trading journey and for navigating every single trading day. When used properly, their coaching services will help funded traders develop an effective routine: Prep—Trade—Reflect. 

Free Coaching

In terms of education and coaching, Topstep provides free coaching and personalized coaching programs.

This includes daily live trading classes, profit targets, trading psychology lessons, private trader group chats, and watching professionals trade in real-time during their live broadcasts.

Group Coaching:

Group Coaching is a great way to connect with and learn from their experts and peers! Discuss current market trends and news and get answers to your burning questions live from futures trading veteran, John Hoagland, every Monday and Wednesday at 1 PM CST. 

(NEW!) One-on-One Coaching:

Check-in with an expert regularly to discuss your trading approach, risk management, and mindset needed to get funded. Their coaches are professional veteran traders who are here to help you succeed! 

Topstep is in the process of building this for all active traders. Join their waitlist to be alerted when openings are available! 

Digital Coaching with Coach T:

Topstep’s trading dashboard features Coach T, their digital performance coach that provides tools and personalized trading stats to help you become a smarter and disciplined trader. Coach T guides traders in achieving Funded Trader status every time they get in front of the trading screens.

Get ready for a trading revolution in the futures prop trading space! Topstep is thrilled to introduce its groundbreaking futures trading platform TopstepX™, setting a new standard for the industry!

TopstepX™ is a tailor-made platform designed exclusively for Topstep users. Leveraging over ten years of industry expertise, insights, and feedback, the Topstep prop firm has collaborated with a group of world-class traders and software developers to create a pioneering prop trading platform. TopstepX™ goes above and beyond, providing more than just a platform for executing trades: it offers the Ultimate Trading Xperience™. TopstepX™ gives traders access to all of Topstep’s offerings in one comprehensive platform.

A TopstepX™ account is simple to sign up for and it enables seamless trading from any location.

  • Sign up and start trading in under a minute, with no connection instructions.
  • The web-based platform is compatible with both PCs and Macs.
  • A dedicated mobile app for both iOS and Android will be introduced soon.

The TopstepX platform offers incredible features:

  • The evaluation process, The Trading Combine®, is always only one step, with one rule.
  • Fully integrated licensed TradingView® charts, offering traders their favourite drawing tools, indicators, and customisations.
  • The Tilt™, a prop trading indicator providing real-time insights into the bias long and bias short of all Topstep traders.
  • Dedicated data feed directly from the Chicago Mercantile Exchange (CME).
  • Simple ‘bracket’ orders with drag and drop profit and risk targets, which help you to deal with all the mathematics.
  • Simplified production selection, ensuring traders remain on the front month and avoid excessive contracts.
  • Auto-closure of positions at end-of-day and auto-liquidation when you achieve your profit target, preventing you trading past it.
  • Integrated live TopstepTV feed for motivational support throughout the trading day.
  • Live Chat Support connecting traders directly with the Topstep team.
  • Permitted products drop-down table with individual indicators showing if the market is open for each product.

You can explore the platform further here, take a tour, and sign up to the waiting list for access to the platform as well as any updates.

Additional Trading Platforms

Topstep provides a variety of built-in trading platforms which can be used with both simulations and funded accounts.

  • NinjaTrader 7
  • TradingView
  • Tradovate
  • Sierra Chart
  • T4
  • ATAS (Order Flow Trading)
  • Jigsaw
  • R|Trader
  • Volfix
  • MultiCharts
  • MotiveWave
  • Bookmap X-RAY
  • Trade Navigator
  • Investor/RT
  • Well known prop firm with over 10 years of experience in the industry and an excellent reputation.
  • Funded traders keep their first $10,000 profits and get to keep 90% of profits thereafter
  • Free training and coaching program to help you succeed in becoming a Topstep Funded Trader™
  • Multiple trading platform to choose from including their own in-house platform called TSTrader
  • Get funded in as little as 2 days
  • Withdraw your profits up to 4 times per month
  • 14-day free trial period
  • 20% discount (no code required) on the purchase of your first Trading Combine
  • Up to 5 Express Funded Accounts (XFA)
  • Monthly subscription
  • Futures trading only

Topstep is an excellent option for experienced traders looking to leverage their trades and join a community of professional traders. It is also the perfect proprietary firm for beginners who would like to get started trading futures.  As the firm provides free coaching, educational courses, and live trading broadcasts for the community to assist and learn from veteran traders. Anyone can qualify for a Topstep Funded Account, and payouts, starting at 90% of the profit you make, are very generous compared to the industry average. For those reasons, we believe Topstep offers the best funded account options for futures trading.

You may find out more and open an account with Topstep by visiting their official website at www.topstep.com.

Please refer to the following pages of our website to read about similar other Prop Firms leading the industry such as: The Trading Pit Review

Topstep has the best payout policy in the industry that allows disciplined traders to take weekly payouts. The best part? You get access to 100% of your profits after accumulating 30 winning trading days.

Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. A winning trading day is counted when a day’s Net PNL is $200 or more.

Read more here.

You can submit a request through this form in our app. Payouts are processed daily, but may take up to 10 business days to receive.

When a payout is requested and approved, and all appropriate forms are submitted (ACH / Wire / SWIFT info & KYC documents), we will remove the funds from the trader’s account. Topstep will then start the process of sending the funds to the trader. Your Payout arrival will depend on the payment method.

The available payout methods are:

  • ACH: up to 10 business days

  • International Wire/SWIFT: up to 3-5 business days

These transfer times are only estimates and may be impacted by additional reviews or requests for information at the discretion of the payment providers or the Finance & Compliance Team. Most payment providers, especially banks, do not process payments on weekends and public holidays.

*Minimum Payout Request is $125.00.

Traders will receive 100% of the profits from payouts, up to $10,000. After the first $10,000 of funds have been received by the trader, the profit split will become 90/10, with the trader receiving 90% of payouts and Topstep® retaining 10% of the requested payout. The payout policy is per trader and can be across multiple Funded Accounts. You will keep 100% of your profits until your payouts across Funded Accounts cumulatively add up to $10,000. Once your cumulative payouts exceed $10,000, you will be subject to the 90/10 profit split.

Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).

Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).

Topstep does not offer Forex trading, our program is for Futures trading only. However, we highly recommend Foreign Exchange Futures to anyone with a Forex trading background.

You can reset your account at any time during your subscription to change the status of your account from ineligible to eligible by purchasing a Reset through your Trader Dashboard.

You will also have the option to practice on the account and reset it at a later date. We allow traders to do this on an account that is not eligible for funding so that they can iron out their strategy before trying for funding again.

Although the reset never feels good, it emulates the feeling of losing real capital in the market at a fraction of the cost of real losses you might experience in a traditional brokerage account.

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