TopTier Trader Review

TopTier Trader Review 2024

In recent years, a new type of trader has emerged: the funded trader. These traders are able to trade with large amounts of capital provided by backers, in return for a percentage of the profits. This arrangement can be very beneficial for both parties, as it allows the trader to take on more risk and potentially make more profit, while the backer can get exposure to a potentially profitable trading strategy. This is where TopTier Trader comes into play.

TopTier Trader is a proprietary trading firm that has been established in 2021 by Anthony of Anthony’s World and Cue Banks. The company was created to aid traders in need of capital. The prop firm actively seeking experienced traders. To determine whether a trader is competent, they established a two-stage evaluation process. Traders that pass the assessment are subsequently given a position in the TopTier Trader prop firm, where they have the ability to remotely manage funds and continually scale the account using their scaling strategy.  If you’re a TopTier Trader, you get to keep 80% of your profits. If there are any losses, the firm will cover them. Do you think this is the right prop firm for you? This updated review has the information you want.

To get funded by TopTier Trader, you will first have to pass two challenges. These challenges are meant to test your trading skills and prove that you are profitable in the field.

Now, before you proceed with the challenges, you must know the different types of accounts. Funded accounts range from $25,000 to $200,000. Whereas you might think that the $25,000 account would be the best option, it doesn’t have the best value for money. So, it’s better to go for a different account size, like the $100,000 one.

Joining the challenges will require a fee. If you successfully pass the challenge, you can get this sum back.

The challenges will have a profit target along with other rules that you must follow. After passing, you won’t have to limit yourself to the profit target anymore as there won’t be one.

TopTier Trader’s prices for funded accounts are not too high, making them accessible to a larger crowd. When you look at their costs compared to other prop firms, you will notice that they are much cheaper, while you get to enjoy the same benefits.

We’ve already mentioned how passing 2 challenges is a must if you want to become a funded trader with TopTier Trader. However, what do these challenges entail? Let’s break down the challenges a little bit:

1st Challenge

During the first challenge, you will have 30 days available to reach the profit target of 10%. The leverage is 1:100, and you have a 5% maximum daily loss.

At first glance, this might not sound that difficult, especially for experienced traders. But there is something to keep in mind before joining the game: violating the maximum or daily loss will have terrible consequences. More specifically, your account will be deleted.

 2nd Challenge

The second challenge is even easier than the first one. You will have an extended period for meeting the goals, and the rules are a bit less strict.

Basically, you get a total of 60 days with a 10% maximum loss and a 5% maximum daily drawdown to reach a 5% profit target. It should be a piece of cake considering you went through the first challenge already.

Like the first challenge, failing this one will result in your account being terminated.

After passing the challenge, not only you will get the information that allows you to log into your account, but you will also get a refund of the fee you paid to join. Remember that even after successfully completing the challenge, you still must respect the maximum and daily loss rules – but there will be no profit target anymore.

5% MAX DAILY LOSS

Traders are allowed a maximum of 5% daily drawdown. This is calculated based on your day’s starting balance and or equity depending on your challenge type, and it is calculated at 5PM EST. Meaning that your account’s equity should not at any point go below 94% of your day’s starting balance and or equity. 

For example, on the Regular and Swing account’s if you had a balance and equity of $100,000.00 at 5PM EST, your daily drawdown limit would be $5,000.00. Meaning that your account’s equity would not be allowed to go below $95,000.00. Whereas on the plus account if you had a balance of $100,000.00 and equity of $105,000.00 at 5PM EST, your daily drawdown limit would be $5,250.00 which is based on your equity as it is higher than the balance. Meaning that your account’s equity would not be allowed to go below $99,750.00.

8% / 10% OVERALL LOSS

Your account equity may not at any point drop lower than 8% or 10% of your account’s initial value depending on your challenge type. 

For example, if you start with $100,000 and your max overall has is 8% ($8,000) then your account’s equity should not at any point drop lower than $92,000. The same goes if your max overall loss is 10% ($10,000), meanings that your account’s equity should not at any point drop lower than $92,000.

8% / 10% TIER 1 PROFIT TARGET 

Depending on your challenge type you would need to make 8% or 10% profit in Tier 1 within 30-day period. Once successful, you will then advance to Tier 2. 

For example, if you trade a $100,000 account on Regular and Swing challenge you would be required to make 10% ($10,000) in Tier 1 before advancing to Tier 2. However, if it were a Plus challenge, you would be required to make 8% ($8, 000) in Tier 1 before advancing to Tier 2.

5% TIER 2 PROFIT TARGETS

Once in Tier 2 you would be required to make 5% profit within a 60 or 70-day period depending on your challenge type. Once successful, you will then advance to TopTier which is the funded phase. 

For example, if you trade a $100,000 account, you would be required to make 5% ($5,000) in Tier 2 before advancing to TopTier.

MINIMUM TRADING DAYS

To pass the TopTier funded challenge, traders must trade a minimum of 4 days during the given trading periods. At least one position must be opened on each of these days. This helps traders to sharpen their trading habits and make sure they are gaining in a consistent way.

Different fees are associated with TopTier Trader and its accounts. Here are the 4 pricing programs:

  • The $25,000 program has a priced at $255
  • The $50,000 program is priced at $350
  • The $100,000 program is priced at $560
  • The $200,000 program is priced at $999

If you pass the challenge, your fees will be refunded. However, if you don’t, there will be no refund. If you decide to do it again, you may always repurchase the challenge.

It’s essential to see how realistic the trading requirements are when looking at prop firms that best suit you and your forex trading style. For example, a company offering a high % profit split on a highly funded account sounds great, but if they expect high % gains per month with low % maximum drawdowns, your chances of success become close to zero.

Receiving capital from the TopTier Challenge evaluation program accounts is realistic mostly since they have industry average profit targets (10% in phase one and 5% in phase two) with average maximum loss rules (5% maximum daily and 10% maximum loss).

Receiving capital from the TopTier Challenge Plus evaluation program accounts is also realistic mostly since they have industry below average profit targets (8% in phase one and 5% in phase two) with average maximum loss rules (5% maximum daily and 8% maximum loss).

After considering all of that, TopTier Trader is an excellent choice to get funded since you have two different funding programs you can choose from that have realistic trading objectives to follow and conditions to receive payouts.

Even though it’s new, TopTier Trader has managed to become one of the best proprietary trading firms out there. After only one year of being up and running, the firm is one of the most popular ones in the industry, with thousands praising it and recommending it to other traders.

On TrustPilot, the company has a rating of 4.9 stars out of 5. Reviewers claim the company changed their life for the better. Not only was it simple for them to pass the challenges and become funded traders, but it was also easy for them to reach out to the customer support. Their support team is one of the best according to reviewers, as they always respond fast and do whatever they can to help those requiring help.

In total, there are 2,299 reviews for TopTier Trader on TrustPilot, with 95% being positive. This goes to show the positive impact this prop firm had on many traders.

You are permitted to engage in trades as well as news trading during the weekend which is not something you have permission to do with most of other funded trading companies. You will be allowed a maximum daily loss (drawdown) of 5% of your daily starting balance. This is the maximum amount that may be lost each day. When it comes to currency pairings, every account offers leverage of 100:1. The other ratios are 1:40 for gold and commodities, 1:30 for indices, and 1:2 for cryptocurrencies, respectively. In addition, they do not impose any restrictions on the size of the lots that can be used.

Unfortunately, they don’t allow the use of EA. EAs are only available in the TopTier Challenge Plus. They also do not allow copy trading on TopTier accounts; all transactions must be done manually by the trader listed on the account. Any evaluation and funded accounts that are violated will be forfeited.

  • It has an 80% profit split
  • News trading and weekend trading are allowed
  • Scaling goes up to $2 million
  • Funding up to $600,000
  • Leverage up to 100:1
  • Known CEO
  • One evaluation free retry
  • Tradable instruments forex pairs, commodities, indices, and cryptocurrencies
  • The company new (Oct 2021)
  • Normal challenge accounts do not allow EAs
  • Copy trading is not permitted

Top Tier Trader is a legit company that offers funding options seeking experienced traders. It has easy challenges that most experienced traders will be able to pass.

From the challenge to the scaling plan, most are standard. Every three months, you can request a review of your trading results. This indicates that you have the potential to see an increase in capital four times each year if you maintain your consistency throughout the year.

In order to be eligible, you must have maintained a monthly profit of at least 6% for the preceding three months; however, they will only add 25% to your account, unlike some other prop firms, such as FundYourFX, which will automatically scale your account by 50 percent if you earn a profit of 10 percent. In the big picture, this is still a decent prop firm for you to join, and it’s only one option among the many other prop firms.

Keep in mind that there is an inactivity rule. If you do not log into your TopTier Challenge Regular or TopTier Challenge Swing account within 14 days of the day it was issued by the broker, which would be the date of your purchase, the account will be terminated automatically, and you would have to do the challenge again. Another thing is that you should be aware that TopTier Trader only offers demo accounts for its users. You will always have access to a demo account with virtual money, even after you become a funded trader.

So, you can start your TopTier Trader challenge today for a chance to become a funded trader!

Please refer to the following pages of our website to read about similar other Prop Firms leading the industry such as: Apex Trader Funding Review

Typically, Apex Trader Funding charges monthly payment fees (of $85). However, traders now have the option to make a one-off payment. For more information on the fee structure, see here.

Your account will be funded within seven days of your evaluation being submitted and approved.

You are allowed two payouts per month.

Yes, Apex Trader Funding allows you to create up to 20 accounts on the platform at once. Do note that you pay either a monthly or one-off fee for each account.

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