Are you ready to take your trading to the next level? If you’ve been eyeing TopStep Trader’s platform to enhance your trading skills and take control of your financial future, we’ve got good news.
This unique trading platform provides an avenue for amateur traders to gain real-world experience through simulation trading. You’ll get to practice your skills and strategies under the guidance of expert traders before putting real money on the line.
Once you’ve proven your ability through their evaluation program, you’ll have the opportunity to earn a funded trading account with up to $150,000 in buying power. How’s that for an exciting challenge? While TopStepTrader does not have a conventional promo or coupon code, this link will give you 20% off during sign-up.
If you are ready to start your trading journey, read on to find out what ToStepTrader is, how it works, and all its amazing features. Here is a comprehensive TopStepTrader review.
What Is TopStep?
TopStepTrader is a funded futures trading program that allows traders to trade with real money. TopStepTrader gives you a chance to prove your skills through their Trading Combine. If you meet their performance requirements during the Combine, you’ll earn a funded trading account to trade live markets without risking your capital.
The Combine lets you trade in a simulated environment to demonstrate your ability. You’ll have access to TopStepTrader’s trading platforms and data to compete for a funded account. If you pass, you’ll get to trade a live-funded account and keep a percentage of the profits.
TopStepTrader supports over a dozen trading platforms so that you can use your preferred software. They offer accounts for multiple asset classes, including E-minis, currencies, grains, metals, energies, and more.
The program provides guidance and resources to help improve your trading. You’ll get a funded account, risk parameters, and the chance to earn while you learn. If you’re looking to become a professional trader, TopStepTrader allows you to trade with real capital and advance your skills.
Who TopStepTrader Best For?
TopStepTrader is ideal for new and aspiring day traders looking to start without a huge capital outlay. Whether you’re in the U.S. or one of 142 other countries, TopStepTrader’s simulated trading combines and funded trading programs provide an accessible path to becoming a day trader.
Demonstrating your skills in the simulated Trading Combine allows you to earn a funded trading account and keep up to 80% of the profits without any capital contribution. For novice traders or traders on other platforms like Elite Trader Funding and SurgeTrader, the simulated accounts allow you to learn the ropes of day trading futures in a risk-free environment.
You’ll graduate to a funded live trading account once you achieve the profit targets and other metrics over a set period. Seasoned traders can also benefit from the opportunity to trade with the firm’s capital rather than your own.
In 2020 alone, funded traders withdrew over $2 million in profits. If you have the drive and discipline to day trade profitably, TopStepTrader could be your opportunity to turn day trading into a lucrative career. Their global community provides education and support to help all traders, regardless of experience level, find success.
TopStepTrader Features
TopStepTrader’s platform, TSTrader, has several useful features for traders.
1. Charts:
TSTrader offers some of the best charts on the market. These include Candlestick charts, Bar charts, Line graphs, Point & figure, Heike nashi, and Renko.
2. Education and Coaching:
TopStep provides educational resources to help you become a better trader. They offer daily live trading classes, lessons on trading psychology, and how to navigate volatile markets. You can also watch professional traders in action during live trading simulations.
3. No-Fee Trading:
Although TopStep charges $0.79 per contract on funded accounts, their TSTrader platform is free to use for simulation trading. This allows you to practice your trading strategies risk-free before trading live markets.
4. Supported Devices:
TSTrader works on any desktop or mobile device, so you can analyze the markets and place trades whenever and wherever you want.
5. Third-Party Add-Ons:
TSTrader supports integration with third-party tools like Trade Navigator, Order Flow Trading, and Bookmap X-Ray. This allows you to customize the platform to suit your unique trading needs.
6. Group Coaching and Performance Coaching:
Their coaching plan involves group and performance coaching. The performance coaching provides a 30-minute kickoff call to review your trading plan and offer guidance. You’ll also get a weekly personal coaching session and access to a private trader chat group.
7. Digital Coaching:
Their Digital Coaching plan offers helpful tools for self-paced learning. A customizable trading plan helps you map out your strategies. Alerts notify you of opportunities and trading signals. Trader IQ assessments measure your progress. A trading journal lets you log your trades and review your performance. Weekly emails provide useful tips and advice.
8. Community Help:
TopStepTrader’s community forum allows traders to connect and help each other. You can ask questions about using the platform or trading in general. Other traders may offer suggestions based on their experience. Engaging with the community is a great way to continue learning.
TopStepTrader aims to provide guidance and support for traders of all skill levels. Their features and community resources help set you up for success through personalized coaching, useful tools, and peer support. With the right dedication, these resources can help take your trading to the next level.
What is the Difference Between a Premium Funded and a Funded Account
A Premium Funded Account is the ultimate goal for traders in the TopStep program. You’ll be eligible to upgrade once you’ve graduated from the Pro account by reaching the required trading targets and balance. The key difference between the two accounts is that a Premium Funded Account provides you real capital to trade, not simulated funds.
With a Premium Funded Account, you’ll receive $5,000 or $2,500 in real money to trade based on the combined you completed. You’ll pay a monthly platform fee but keep 70-80% of the profits. The trading restrictions are more flexible, allowing you to trade most instruments.
You can also withdraw money and reset your account balance if needed. In contrast, the Pro account provides simulated trading with virtual money and limits you to certain instruments and times. While you can earn real payouts, you cannot withdraw funds or restart your account.
The Pro account aims to prepare you for the responsibility of a Premium Funded Account, where you’ll be trading real capital. If you can master the Pro account, you’ll be ready to upgrade and take your trading to the next level with a Premium Funded Account.
TopStepTrader Pricing
TopStepTrader offers four membership plans for traders using their simulation accounts:
$50k Buying Power
- $165 per month
- Profit Target: $3,000 (per step)
- 5 contract position max
- Daily loss limit of $1,000
- Trailing max drawdown of $2,000
$100k Buying Power
- $325 per month
- Profit Target: $6,000 (per step)
- 10 contract position max
- Daily loss limit of $2,000
- Trailing max drawdown of $3,000
$150k Buying Power
- $375 per month
- Profit Target: $9,000 (per step)
- 15 contract position max
- Daily loss limit of $3,000
- Trailing max drawdown of $4,500
With each plan, you’ll get access to TopStepTrader’s trading education and tools to help set you up for success. Choose the plan that matches your experience and goals, then start trading like a pro.
Does TopStepTrader Have Resets & Commissions?
TopStepTrader has some rules regarding resets and commissions that are important to keep in mind.
Resets
If you end up “blowing up” your virtual account during the Trading Combine by making some bad trades, TopStepTrader will charge you $100 for each reset. Considering these fees are for simulated trading funds, this can be a barrier for newer traders wanting to try different strategies.
Commissions
While TopStepTrader claims “no-commission” trading, this isn’t entirely true. Instead, they charge a small transaction or exchange fee of $0.18 per contract. Even though the fee is low, you still need to account for it in any trade.
Between the potential fees for resets and the commissions on each trade, ensure you go into the Trading Combine with a solid plan. Do some paper trading to test strategies first before risking your hard-earned money. With the right preparation, you can avoid extra fees and be on your way to funded trading!
TopStep Trader Pros and Cons Based on Online Reviews
Online reviews of the TopStep Trader funded trader program point out some important pros and cons to consider:
Pros
- Low initial capital requirement
- Robust support for well-known trading platforms
- A comprehensive selection of educational resources, including live sessions
- Two-week trial period
Cons
- Stringent criteria for fund acquisition
- Elevated membership costs
While TopStep Trader isn’t for everyone, for the right person with the patience and skills to achieve a funded account, the potential rewards of a funded day trading career and community support could make the demanding performance criteria worthwhile. Do thorough research to determine if the program fits your needs and abilities before investing significant time or money.
Is TopStepTrader Worth Looking Into?
TopStepTrader is a valuable platform for aspiring day traders to test their skills. Virtual trading provides access to trading education to help take your skills to the next level without risking real money.
While the Trading Combine and funded accounts fees can add up quickly, especially if you have to reset multiple times, the platform is a great way to learn professional day trading techniques. There’s no Promo code needed to get started like on other platforms like Elite Trader Funding and SurgeTrader. Instead, you can get 20% off the monthly subscription fees by using the exclusive discount link.
The Trading Combine lets you trade with virtual money to prove you have what it takes to become a funded trader. We recommend starting with a month or two to determine if day trading is right for you before committing to ongoing fees. Funded trading is challenging, so be sure to treat it seriously.
If you’re dedicated, disciplined, and willing to work to become a skillful trader, TopStepTrader could be a worthwhile pursuit. The key is to go in with realistic expectations about the difficulties of becoming a professional trader.
But with hard work and the right mindset, TopStepTrader provides an opportunity to get into day trading without needing a ton of startup capital. The platform and education are valuable for beginners and experts looking to elevate their skills. Click here to get started on your trading journey with TopStepTrader.
