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Are you looking for a platform that can help you get started in day trading? If so, you might be wondering if TopStepTrader is a legitimate option. TopStepTrader is a funded trader program that specializes in helping futures traders get started in the day trading world. With support for 16 different trading platforms, including the game-changing TopStepX, and a simulated account, the platform is ideal for new and experienced day traders who are looking to make big money. So if you’re looking to cut to the chase, yes TopStepTrader is legit!
TopStepTrader is a well-established platform that is open to traders from all over the world, with 143 countries represented in its trading community. The platform provides traders with the opportunity to trade futures with the firm’s money and keep most of the profits. Since 2020, TopStepTrader has paid out over $23,000,000 to its traders, which is a testament to its legitimacy.
In this blog, we will take a closer look at TopStepTrader, its features, and what users are saying about the platform to help you determine if it’s the right tool for you. If you’re looking for a reliable platform that can help you get started in day trading, is TopStepTrader worth it? We think yes, continue reading to see why.Learn More About TopStepTrader
TopStepTrader Background Information
TopStepTrader is a well-established online trading platform founded by Michael Patak in 2012.. With a focus on providing traders with the necessary tools and resources for success in financial markets, TopStepTrader has established itself as a trusted and respected player in the industry.
The company has built a reputation for delivering top-notch educational resources and innovative trading tools, attracting a global customer base that spans over multiple countries. This has earned TopStepTrader a trustworthy reputation and the confidence of its customers.
The longevity of the company, being in business for over a decade, is a testament to its legitimacy, and ability to provide value. A company that has been able to survive and grow for such a significant period of time is extremely unlikely to be a fake or a scam. The continued success of TopStepTrader is a strong indicator of the trust and confidence placed in the platform and its services by its customers.
TopStepTrader Customer Reviews
It’s difficult to ignore the enthusiasm expressed in many TopStepTraders reviews. With a 4.6 (Excellent) rating on Trustpilot, from over 2,800 reviews, it’s easy to get a sense of what to expect with the company. Customers praise the strict rules and restrictions imposed by TopStepTrader, which they see as a means of developing discipline and consistency in their trading. The customer service is also highly rated, with reviewers expressing appreciation for the responsiveness and helpfulness of TopStepTrader’s support team.
One reviewer attributes their improvement as a trader to their experience with TopStepTrader, citing a change in attitude towards the rules and increased self-discipline. Another reviewer highlights the supportive community and access to educational resources as a major advantage of the platform.
Here are a couple actual reviews from verified users:
“I remember looking through some of the bad reviews when I was starting TopStep and had so many questions in my head. 4 months later after alot of failing due to my own fault I was able to get funded and take a payout. TopStep is a wonderful company that has strict rules for your own good. I recommend TopStep to someone that is starting off or even has been trading for years. They have wonderful customer support and amazing discord where you get your every question answered. Shoutout to Dolbytime on discord for always helping out and leading the discord. Amazing company!”
“The combine changed me. I bombed out of Step One 3 times in four months before I completed it. I also cratered Step Two the first time, and waited a couple of weeks before I started the effort that was ultimately successful. During all that trading, my attitude toward the rules of the combine changed from irritation and resentment to understanding and embracing. The net result, I believe, is that I now have more self-discipline and self-control, and that means confidence in myself and my trades. Learning hard lessons is never enjoyable, but in this situation, I am a much better trader because of the hard rules. I am grateful to TopStep for this unique experience.”
TopStepTrader Trading Combine and Profit Split
When it comes to actually making money with TopStep, traders need to understand that like all things, it takes practice and discipline to be successful. The good news is that many traders do pass the TopStep Trading Combine requirements and earn a funded account, which allows them to trade with real money and potentially earn profits. In order to receive a funded account, traders must meet two parameters – demonstrating profit potential and managing risk. A funded trader status is akin to being a professional trader.
Once traders receive a funded account, they receive 100% of their initial profits from payouts, up to a total of $10,000. After that, the profit split becomes 90/10, with individual traders receiving 90% of profits and TopStep retaining 10%. Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days (when a day’s net P&L is $200 or more).
For example, if a trader starts with a $100 account balance and has five winning trading days with an account balance of $5,000, they can request a payout of $2,500, which is 50% of their profit.
It’s important to note that all traders looking to be funded must abide by the rules established by the combined. These rules specify trading schedule, profit targets, maximum drawdowns, minimum trading days, and loss limits.
Over $3 million was withdrawn by traders in 2021, and payouts can be made via an online form on the app. Funds are removed immediately from the TopStep account, however, the time it takes you to receive the funds depends on the payment method you choose. Here are the general payout times:
Wise: 1-3 business daysACH: 1-3 business daysWire/SWIFT: 3-5 business daysInternational Wire/SWIFT: up to 5-10 business days
TopStepTrader does not charge traders for making withdrawals, but there is a $50 cost for failed transfers. It should also be noted that it is the trader’s responsibility to pay taxes based on their local jurisdiction.
Why Choose TopStepTrader?
I will cover some of the benefits that have lead so many to choose TopStepTrader as their prop firm partner, but if you are more of a visual learner, check out this video:
Varied Account Sizes: TopStep provides an assortment of Trading Combine® account sizes, making it possible to accommodate various trading strategies and objectives. This flexibility allows traders to select an account that best aligns with their goals.Profit Split: Offers a competitive profit-sharing arrangement, enabling traders to keep up to 90% of their profits. This generous split is designed to reward traders for their success and hard work.Global Accessibility: Open to traders from all over the world, TopStep offers a unique opportunity to trade futures in a regulated and supportive environment. This global access ensures that traders from diverse backgrounds can participate.Educational Resources: A comprehensive range of educational materials, including webinars, articles, and live trading classes, is available to support traders at every experience level. These resources are invaluable for continuous learning and improvement.TopstepX™: A cutting-edge trading platform specifically developed for Futures traders working towards earning funding with Topstep. It integrates licensed TradingView® charts and offers a suite of drawing tools, indicators, and customization options beloved by traders.The Tilt™ Indicator: A proprietary trading indicator that displays the bias long and bias short of all Topstep traders in real-time, adjusting as the market shifts. This tool provides valuable insight into trader sentiment and market direction.Dedicated Data Feed: Direct data feed from the Chicago Mercantile Exchange (CME), ensuring traders have access to reliable and timely market information.TopStep TV – CERTIFIED TRADERTAINMENT™: Live broadcasts Monday through Friday, featuring experts who trade live, discuss market happenings, provide breaking news, tips, community stats, and welcome special guests. This platform is designed to help traders get ready for the trading day and succeed in the markets.Wide Platform Support: Compatibility with 16 different trading platforms, offering a broad range of choices to traders for executing their trades on the platform that best suits their needs and preferences.
Click Here to experience these benefits first-hand.
Final Thoughts – Is TopStepTrader Legit?
TopStepTrader is a well-established, legitimate platform for day traders looking to get started in the industry or improve their skills. With a focus on providing traders with the necessary tools and resources for success, TopStepTrader has established itself as a trusted and respected player in the industry. The platform has a strong reputation, with a 4.6 (Excellent) rating on Trustpilot and glowing reviews from satisfied customers.
The strict rules and restrictions imposed by TopStepTrader are seen by many customers as a means of developing discipline and consistency in their trading, and the customer service is highly rated for its responsiveness and helpfulness. The longevity of the company, being in business for several years, is a testament to its legitimacy, and ability to provide value.
Based on the information discussed in this blog, it’s clear that TopStepTrader is a legitimate platform worth considering for those looking to get started in day trading or improve their skills. The platform’s focus on providing traders with the necessary tools and resources for success, combined with its positive reputation and customer reviews, make it a strong choice for those looking to make big money in the day trading world. Click here to get started with TopStepTrader today.Get Started With TopStepTrader and Save 20%
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Frequently Asked Questions
The trading combine starts as low as $49 per month. Once you pass the trading combine and earn a funded account, you will need to pay a one-time activation fee. After that, you will not be responsible for paying any more fees.
Some traders have received a funded account in as little as 2 days, although results vary depending on the traders success.
Once funded, traders will receive 100% of the profits for the first $100,000 and then 90% after.
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