High profit share of 90/10
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Topstep Review
Topstep is a well-known prop trading company that specializes in trading futures. With over a decade of experience, the company has established itself in the industry, providing traders with a safe environment to earn money and enhance their trading abilities.
Topstep Review (Account Discounts) Details:
Topstep is currently running a discount on its account sizes.
- $50K from $165/mo to $49/mo
- $100K from $325/mo to $99/mo
- $150K from $375/mo to $149/mo
- High profit share of 90/10.
- Several trading platforms are supported.
- Provides access to training materials and free coaching.
- A referral program where you can extra.
- You can trade standard, mini, and micro-lots.
- Only three account sizes are available $50,000, $100,000, and $150,000.
- The support system is limited to weekdays.
What is Topstep?
Michael Patak founded Topstep in 2012 as Patak Trading Partners, which has now become a leading figure in the industry. The company’s objective is to facilitate trading by offering a platform that grants access to capital, expertise, and training, enabling traders to make informed decisions.
The company is well-known for its Trading Combine program, offering access to three distinct trading accounts with amounts of $50,000, $100,000, and $150,000 in a simulated setting. This allows you to learn without risking your own funds. Additionally, Topstep offers a profit-sharing split of 90/10, enabling you to receive a larger share (90%).
Who is Topstep For?
Whether you are new or experienced you can trade on Topstep. However, if you need a wide range of accounts this firm will be disappointing as it only has three.
Who is the CEO of Topstep?
The CEO of Topstep is Michael Patak. He is also the founder of the company and started his trading career with brokerage accounts and has since learned the keys to consistent performance. This is what he has used to build Topstep, a learning place for traders. He is also a frequent guest in the Coach’s Office Hours group conversations on Discord.
Funding Program Options
Topstep has an evaluation program that helps you build better trading skills. You can choose from three main accounts-$50,000, $100,000, and $150,000. These amounts are the same in all the funding programs.
Trader Combined: This is the first evaluation step. You must reach and maintain the profit and consistency targets. You should not hit or exceed the daily loss limit. When you pass, your monthly subscription is turned off.
Express Funded Account: This is the simulated Funded Level account after you pass the Trading Combine. The only rule is that your account balance should not hit or exceed the Maximum Loss Limit. There is no consistency rule, no profit targets, and no resets.
You can’t move from the Express Funded Account to the Live Funded Account until you show consistent success in the Express Funded Account. You will then receive an email to transfer to a Live Funded Account and your Express Funded Account will be closed to transfer funds and open the Live Funded Account.
What makes Topstep different from other prop firms?
- Any payouts accumulated during the Express Funded Account are carried forward to the Live Account and you can request a payout if you meet the criteria.
- Payouts are daily.
- It has several ways to build skills.
Is getting Topstep capital realistic?
Yes, getting Topstep capital is realistic. All you have to do is pass the two-step trader evaluation program where you will gain access to a Live Funded Account and trade on your chosen account ($50,000, $100,000, or $150,000).
Once you are a trader on the platform, you get access to 100% (up to $10,000) of your profits after accumulating 30 winning trading days or up to 50% of your account balance after accumulating five winning trading days. After the first $10,000 the profit split becomes 90/10.
Payment options ( Deposit and withdrawal)
Deposits are done using a credit or debit card.
You can withdraw using:
- Wise: 1-3 business days
- ACH: 1-3 business days
- Wire/SWIFT: 3-5 business days
- International Wire/SWIFT: up to 5-10 business days
Payment Proof
Topstep has positive reviews online, with a rating of 4.6 on Trustpilot. Most of the reviews praise the fast payout options and great customer service.
Which broker does Topstep use?
Topstep recommended platforms are:
- TopstepX (Invite Only)
- NinjaTrader
- Quantower
It also supports:
- Tradovate
- TradingView
- T4
Trading Instruments
Since it focuses exclusively on futures, you can trade top futures contracts like:
- E-mini S&P 500 and NASDAQ 100
- Crude Oil
- Gold
- Interest Rates
- Micro Gold, Micro Crude Oil, and Micro Bitcoin
Trading Fees
Topstep has a $49 membership fee for the evaluation and a one-time activation fee of $149 once you earn funding. The activation fee is the same price for all accounts.
Any other fees depend on the platform you use and the product you trade. For example on Tradovate and TradingView platforms:
- Commissions- $1.18 per round turn for E-mini S&P 500 (ES) contracts and $0.30 for Micro E-mini S&P (MES) contracts.
- Regulatory fees- $0.04
- Exchange fees- can range from $0.70 for MES to $2.76 for ES contracts.
- Data fees on some platforms are $0.50
- Clearing fees on Tradovate are $0.30.
These fees are not paid out of pocket but are taken out of your account balance automatically with every filled trade.
Education & Support for Traders
Topstep has various ways it supports you to grow.
- A TV channel where you will find experts trading live and discussing the markets as well as breaking news and tips.
- A YouTube page also includes various educational videos with experts discussing various markets.
- Free coaching that helps you build healthier habits and stronger skills. The platform offers group coaching and has a digital coach (Coach T) on Topstep’s trading dashboard.
- FAQ page with detailed information on the platform.
Social Media Statistics
Topstep is active on its social media pages.
Support
- You can access the customer service team using Topstep’s chatbot Windy or contact the support team. However, the team is only available during support hours: Mon-Fri 5:30 AM – 8 PM CT.
- You can also join its Discord and get help from other traders.
- A Help desk with detailed articles on issues on Topstep.
Verdict
If you are looking for a learning platform where you can grow your trading skills, particularly in futures trading Topstep is the right place. Even with only three account sizes, the platform has managed to set itself apart for its innovative features, diligent evaluation process, educational resources, and transparency. The platform walks your hand through trading with its free coaching and Topstep TV, which has countless learning materials and live trading sessions. This makes it an ideal place for new traders.
FAQ
The maximum daily loss is $2,000 for the 50K account, $6,000 for the $100K account, and $4,500 for the $150K account.
The profit targets in the evaluation are $3,000 for the 50K account, $6,000 for the $100K account, and $9,000 for the $150K account.
There are no minimum trading days.
Payouts are processed every day but may take up to 10 business days to receive.
No. The activation fee for the Express Funded account is a one-time, flat fee of $149 that is non-refundable. The Trading Combine fee is generally non-refundable but comes with a 14-day Satisfaction Guarantee Policy for your first Topstep purchase. This refund depends on the feedback you provide as to why the program was not a fit for you.
