deposit:
- $1
Trading platform:
- Ninja Trader
- MultiCharts
- Trade Navigator
- TradingView
- DayTradr
- InvestorRT
- MotiveWave
- R|Trader Pro
- FCA
deposit:
- $1
Trading platform:
- Ninja Trader
- MultiCharts
- Trade Navigator
- TradingView
- DayTradr
- InvestorRT
- MotiveWave
- R|Trader Pro
- Trading in mini, micro, and standard lots is available
- 1:100
Summary of Topstep Trading Company
Topstep is one of the best proprietary trading firms in the financial market with the TU Overall Score of 9.65 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Topstep clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews prove that the firm’s clients are fully satisfied with the company. Topstep ranks 1 among 37 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria and a test on how to open an account.
Topstep is a broker for active traders who are ready to improve their skills. The company cooperates with clients regardless of trading experience and, when opening an account, takes into account the results of trading on a simulation account.
Topstep is an international proprietary trading company registered in the USA. The company has been providing financial services since 2012 and offers exclusive trading terms for clients from different countries. Topstep provides financing of real trading accounts of its clients if they prove the skill to make trades and manage risks on a simulation account. Traders can trade CME Group futures. Trading on real accounts is carried out through the ECN broker Equiti Capital.
💰 Account currency: | AUD, CAD, COP, GBP, JPY, EUR, MXN, and USD |
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🚀 Minimum deposit: | $1 |
⚖️ Leverage: | 1:100 |
💱 broker-profile.fields.spread.prop: | Float |
🔧 Instruments: | Futures of the CME group: for stocks, commodities, bonds, and metals |
💹 Margin Call / Stop Out: | The broker closes all open positions automatically every Friday |
👍 Advantages of trading with Topstep:
- Real trading accounts are financed by a broker, there is no need to invest your funds in trading.
- The company provides a wide range of free training materials, including free group coaching.
- You can contact the support team using several convenient methods.
- The broker offers a referral program for extra income.
👎 Disadvantages of Topstep:
- The company doesn’t offer bonuses, automated trading, or other passive income options.
- The support service works only on weekdays during set hours.
Evaluation of the most influential parameters of Topstep
Trade with this prop-trading company, if:
- You're seeking an easy start in prop trading. Topstep allows opening an unlimited number of accounts, the cheapest requires only $49 per month. For any express account, there's a one-time fee of $149.
- You prefer trading without restrictions. Topstep accounts don't have a daily drawdown, only an overall one, with acceptable terms. For instance, on a $50,000 account, the overall drawdown cannot exceed $3,000.
- You're counting on a profitable partnership. According to Topstep's referral program terms, you can earn 25% from each referral's transaction benefiting the company (deposit, renewal, reset).
Do not trade with this prop-trading company, if:
- You require a wide range of accounts. Many prop firms offer 6, 10, or more accounts. Topstep has only three - $50,000, $100,000, and $150,000.
Geographic Distribution of Topstep Traders
Popularity in
Video Review of Topstep i
Topstep Latest Comments for 2024 i
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One of the steps you must take to get your evaluation underway is selecting a trading platform. Qwantower is a good platform to start with as you won't pay fees for trading combine or funded account. I prefer this trading platform because of the synchro connection to other brokers.
However, if you are using windows you may need to download the .NET 8.0 DESKTOP RUNTIME (v8.0.3) windows x64 installer for this program to install on your PC if it is not yet installed.
Expert Review of Topstep
Topstep is a unique international Proprietary Trading firm. The company aims to cooperate with day traders who already have a basic knowledge of trading futures. However, experience is not required, any user can open a Trading Combine (simulation account), but you need to meet several requirements to open a real Funded Account.
The uniqueness of Topstep is that you cannot immediately open a real account. First, you must go through a two-stage "trial period" for which trading limits are set. If both steps are successful, a real funded account is opened for you. There is no minimum deposit in the company, money for trading is provided by the broker! The trader's task is to show consistently high trading results and get income.
Topstep is not regulated by any of the authorities because traders don’t risk their own funds, and trading on a live account is carried out through a regulated broker. It is also worth noting that the broker sets some trading restrictions so a small number of trading instruments are available to clients.
Dynamics of Topstep’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
Topstep provides services for those traders who prefer independent capital management and who seek profits by making transactions within a single trading day. There are no conditions for investing, passive income, or using copy services in the company.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Topstep’s affiliate program:
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Affiliate Program. Here you can get extra income by participating in Topstep’s affiliate program. The broker provides all the necessary tools, including marketing materials, promotion methods, and strategies. You are required to attract new active users to Topstep by placing an individual referral link on the network. You’ll get a bonus for each of the attracted clients (referrals).
The broker provides monthly payments to participants in the referral program, in addition to materials and tools. Also, you will get exclusive discounts for yourself and your referrals. You can find the information about attracted clients in your personal account.
Trading Conditions for Topstep Users
You can open an account for trading futures. The broker offers three subtypes of accounts, they differ based on the purchasing ability of the trader. Before you start trading on a real account, you must go through the obligatory training on a simulation account. If you show positive results you can switch to live trading. There is a monthly fee for using a simulation account. You don’t need to replenish your account to trade on a live account, since trading is funded by Topstep broker. Trading transactions are carried out on platforms that are designed to trade futures. The maximum leverage level is 1:100. There is no margin call level, and the broker automatically closes all trades every Friday at 15:45.
More about Topstep Challenge$1
Minimum
deposit
1:100
Leverage
8/5
Support
💻 Trading platform: | TSTrader, NinjaTrader, TradingView, Bookmap X-ray, CTS, DayTradr, InvestorRT, MotiveWave, MultiCharts, R|Trader Pro, Trade Navigator, Volfix.net |
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📊 Accounts: | Trading Combine, Funded Account |
💰 Account currency: | AUD, CAD, COP, GBP, JPY, EUR, MXN, and USD |
💵 Replenishment / Withdrawal: | ACH, bank transfer |
🚀 Minimum deposit: | $1 |
⚖️ Leverage: | 1:100 |
💼 PAMM-accounts: | No |
📈️ Min Order: | 0.01 |
💱 broker-profile.fields.spread.prop: | Float |
🔧 Instruments: | Futures of the CME group: for stocks, commodities, bonds, and metals |
💹 Margin Call / Stop Out: | The broker closes all open positions automatically every Friday |
🏛 Liquidity provider: | No data |
📱 Mobile trading: | No |
➕ Affiliate program: | Yes |
📋 Orders execution: | ECN on the real account |
⭐ Trading features: | Trading in mini, micro, and standard lots is available |
🎁 Contests and bonuses: | Yes, Traders Union’s rebates |
Comparison of Topstep to other prop firms
Topstep | FTMO | Funded Trading Plus | Funded Next | The5ers | The Trading Pit | |
Trading platform |
Deriv Trader, TSTrader, NinjaTrader, TradingView, Bookmap X-ray, Cunningham Trading Systems, DayTradr, InvestorRT, MotiveWave, MultiCharts, Rithmic R|TRADER Pro, Trade Navigator, Volfix.net | MetaTrader4, MetaTrader5, cTrader | MetaTrader4, MetaTrader5 | MetaTrader4 | MetaTrader5 | MetaTrader4, MetaTrader5, BOOKMAP, R Trader, QUANTOWER |
Min deposit | $1 | $155 | $119 | $99 | $85 | $99 |
Leverage |
From 1:1 to 1:100 |
From 1:1 to 1:500 |
From 1:1 to 1:30 |
From 1:1 to 1:100 |
From 1:1 to 1:30 |
From 1:1 to 1:30 |
Trust management | No | No | No | No | No | No |
Accrual of % on the balance | No | No | No | No | No | No |
broker-profile.fields.spread.prop | From 0 points | From 0 points | From 0 points | From 0 points | From 0 points | From 0 points |
Level of margin call / stop out |
1% / 1% | 50% / 50% | No | No | No | No |
Execution of orders | ECN | Instant Execution | Market Execution | N/a | N/a | No |
No deposit bonus | No | No | No | No | No | No |
Cent accounts | No | No | No | No | No | No |
Prop firms’ comparative table by trading instruments
Topstep | FTMO | Funded Trading Plus | Funded Next | The5ers | The Trading Pit | |
Forex | No | Yes | Yes | Yes | Yes | Yes |
Metalls | Yes | Yes | Yes | No | Yes | Yes |
Crypto | No | Yes | Yes | No | No | Yes |
CFD | No | Yes | Yes | No | No | Yes |
Indexes | No | Yes | Yes | Yes | Yes | Yes |
Stock | Yes | Yes | No | No | Yes | Yes |
ETF | No | No | No | No | No | No |
Options | No | No | No | No | No | No |
Topstep Commissions & Fees
Account type | Spread (minimum value) | Withdrawal commission |
Trading Combine | from $8 | Withdrawals are not available |
Funded Account | from $8 | If the commission is up to $500, the trader pays a withdrawal fee of $50. A fee of $500 or more is paid by TopStep |
The broker imposes a swap commission for transferring trading positions to the next day.
Detailed Review of Topstep
Topstep is an international prop-trading company offering unique trading terms for working withfutures. Initially, regardless of the level of your professionalism, you must trade on a Trading Combine simulation account, taking into account all trading restrictions: the maximum daily and weekly loss limit allowed, the maximum trading volume, and other factors. The "trial period" includes 2 stages. At the first stage, you shall prove that your trading is profitable; the minimum stage duration is 5 days. At the second stage, you must prove your risk management skills; and the minimum time for this stage is 10 days. There are no restrictions on the maximum time for the stages passing, however, the broker charges a fee for each month of trading on Trading Combine.
Topstep - Pros and cons for beginners
Topstep by the numbers:
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The maximum leverage is 1:100.
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Traders are offered 2 types of accounts: simulator and real Funded account.
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In 2021, the broker paid out profits to its clients for over $2,900,000.
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Topstep offers 9 basic currencies for a trading account.
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The broker's trading community includes representatives from 143 countries.
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With income on a real account up to $5,000, the broker pays the trader 100% of the earnings, that is more than $5,000 - 80%.
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Topstep funded over 6,000 accounts in 2020.
Topstep is a broker that provides financing for active day traders
After the trader has proven the profitability of his trading strategy and his risk management skills, the broker opens a real Funded Account. There is no need to replenish a deposit to get started since the account is funded by Topstep. Your task is to trade following all the rules and restrictions of the broker. Thus, you don’t risk your own funds when trading. If the trader’s income is up to $5,000, Topstep pays the client the amount in full; if the income is over $5,000, the trader gets 80% of the amount earned.
Topstep offers over 14 platforms for futures trading. The possibility of mobile trading depends directly on the platform because the broker doesn’t have its own mobile application.
Useful services by Topstep:
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Economic Calendar. In this section, you can see many calendar and economic events already marked. The information will help you adjust your trading strategy and take into account possible changes in the market in advance.
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Latest News. Here you can find the latest news on finance, press releases, the trading community, and more. You can select topics of interest or articles from specific authors using a filter.
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Futures Magazine. The magazine contains information about the latest news in the trading world, different groups of assets, and other data that traders can actively use.
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Coaching. You will have access to free group coaching from trade experts, as well as digital coaching to help develop your discipline and shape your trading strategy.
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Help Center. The support service is not always in touch, and in most cases, you just need to visit this section to resolve the issue, since it contains all the information that you need to know before starting work at Topstep.
Advantages:
There is no need to invest your own funds in real trading.
The company's website contains training materials that are constantly updated.
The broker offers convenient ways to contact support.
You can get extra income by participating in the referral program.
You can trade standard, mini and micro-lots.
You can open an unlimited number of accounts with the company.
How to Start Making Profits — Guide for Traders
Topstep cooperates with traders from all over the world. Initially, you can only open the Trading Combine account. If your trading meets the broker's requirements and you go through two stages on a simulation account, Topstep will open a live trading account for you. Separate trading accounts are required to trade futures.
Types of accounts:
Bonuses Paid by the Broker
Topstep not only provides a platform for trading futures, but also serves as a platform for developing trading skills. There are no bonuses for trading and non-trading operations, and the welcome bonus is not available, since there is no need to fund a live account to trade. The trade is funded by the Topstep broker. Generally, the company has one bonus offer for clients.
Traders have a one-time 20% discount on the first monthly payment for using a simulation account
To get it, enter your email address and follow the instructions in the subsequent letter from the broker.
Investment Education Online
There is a section with materials that will be useful to traders with a basic knowledge of futures trading on the Topstep website. There is no information on the website for novice traders to understand the specifics of trading in various assets.
You can test different trading strategies for free on Trading Combine. Moreover, the broker provides access to real trading only after the trader develops and/or demonstrates positive trading skills on the imitation account.
Security (Protection for Investors)
Topstep is registered in Chicago, Illinois, in the USA. It allows its clients to trade on simulated accounts while having access to real market conditions.
Trading on a real account is carried out through the Equiti Capital broker. This company is registered in the UK and licensed to provide financial services under No. 07216039. The activities of Equiti Capital are governed by the FCA (Financial Conduct Authority, 528328).
👍 Advantages
- Live trading is done through a regulated broker
👎 Disadvantages
- Topstep doesn’t provide license or regulation data
Withdrawal Options and Fees
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To withdraw funds from a Funded Account, the broker offers two methods: bank transfer and ACH.
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Payments from a Funded Account are processed within 7-10 business days.
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Topstep broker doesn’t set a commission for the withdrawal of earnings. The withdrawal fee is set by the payment system. Topstep pays commission costs if the fee is over $500. In other cases, the withdrawal fee paid by the trader is $50.
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The Topstep broker offers several ways to pay for a monthly subscription to Trading Combine: by Visa, MasterCard, PayPal, American Express, and Discover.
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The company requests that you use a standard credit or debit card because but sometimes credit cards or gift certificates may not work.
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The term for crediting funds to Trading Combine depends on the deposit method. Bank card transactions are processed within 1-2 business days, e-payment systems usually process payments faster.
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To pay for the monthly subscription, there is no need to go through verification. To withdraw funds from a Funded Account, verify your identity by filling out the proper forms.
Customer Support Service
Topstep offers a customer support service to solve the questions and problems of its traders. Contact the company's employees in one of the most convenient ways. The service is open from Monday to Friday.
👍 Advantages
- The company offers several ways to communicate with its employees
- Find the answers to frequently asked questions (FAQs) in the Help Center section.
👎 Disadvantages
- The support service works only on weekdays
- No callback function
- You cannot visit the broker's office to solve problems or open an account
This broker provides the following communication channels for its clients:
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call to one of the provided phone numbers;
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letter to the broker's email;
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complete the contact form;
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send a message to online chat.
The broker is also represented on social networks, including Facebook, YouTube, Instagram, Twitter, and LinkedIn.
Contacts
Foundation date | 2000 |
Registration address | Topstep | LLC 224 N Desplaines St #350 | Chicago, Illinois 60661 |
Regulation |
FCA |
Official site | https://www.topstep.com/ |
Contacts |
Email:
support@topstepfx.com,
|
Review of the Personal Cabinet of Topstep
To start trading, register on the Topstep broker's website. You can do this by following Traders Union’s step-by-step instructions:
Visit the broker's official website. Find the "Start Trading” button on the main page, in the center of the screen. Click it to start registration.
Select one of the trading options — Futures. Click on the "Start Trading" button under the desired option.
Click on the "Start My Trading Combine" button.
Then select the type of trading account you want — Topstep accounts differ in purchasing ability and commissions. You can also select the currency of the account and study the trading terms of different accounts. Click on the "Select" button under the selected account.
In the window enter your login and password, if you are a registered user. To open a new account, click on the "Register here" inscription, which is located under the "Login" button.
Fill out the form with personal data such as your email address, full name, and password to log in to your account.
Enter your phone number. Click on the "Send Verification Code" button and enter the 4-digit code that the broker will send to your phone. If necessary, you can go back and change the phone number.
Now pay a fee for using the broker's services. The amount depends on what type of account you chose.
The following options are available in the Topstep personal account:
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Financial statistics.
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Trade section.
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Customer portal.
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Analytical and news portal.
Disclaimer:
Your capital is at risk. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Find out how Topstep stacks up against other brokers.
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FAQs
How do client reviews impact Topstep rating?
Any review can raise or lower the rating of any company in the Forex prop firms rating. To read reviews about Topstep you need to go to the company's profile.
How can I leave a review about Topstep on the Traders Union website?
To leave a review about Topstep , you need to register on the Traders Union website.
Can I leave a comment about Topstep if I am not a Traders Union client?
Anyone can post a comment about Topstep in any review about the company.