How to get funded with Topstep prop company?
Topstep is a financial trading firm that offers various services to traders and investors. One of their primary services is to provide funding to traders who have passed their evaluation process and have proven to be consistently profitable.
The evaluation process is called the Topstep Funded Account Program, which is a series of simulated trading assessments that are designed to evaluate a trader's skill, risk management, and overall trading strategy. Once a trader has passed the evaluation process, they can receive funding from Topstep to trade with a live account. This article will provide an overview of securing funding from Topstep prop company.
How to Get Funded for Trading Forex?How do you become a funded trader?
To get the Topstep Funded Account program, follow the steps given below to become a funded trader:
Visit Topstep website. Click on the "Earn Funding" button on the homepage.
Topstep Website
Select the Account Size.
Topstep Website
Create an account by filling out the registration form and confirming your email address.
Topstep Registration
Once you have created an account, you can begin the evaluation by taking the Topstep Challenge.
The Topstep Challenge consists of two parts: Step 1 and Step 2. Step 1 is a simulated trading assessment in which you will trade in a live market environment. You will need to pass performance and risk assessments to move to Step 2.
Step 2 is a funded trading assessment where you will trade with real money provided by Topstep. You will need to pass a performance, risk, and psychological evaluation to be considered for funding.
Once you have completed Step 2, you will be evaluated by Topstep and notified if you have been approved for funding.
If approved, you will be given a funded trading account with real money to trade with, and you will be able to access the benefits of being a Topstep -funded trader.
Note: During the process, don't do the following:
Hit the daily loss limit.
Let the account balance exceed the Trailing Drawdown limit.
How long does it take to become a funded trader?
The length of time for the Topstep-funded program can vary depending on an individual's performance during the evaluation process.
Step 1 is a simulated trading assessment and typically takes around 7-14 days to complete.
Step 2 is a funded trading assessment that typically takes 14-28 days. Once you have completed Step 2, you will be evaluated by Topstep, and you will be notified if you have the approval for funding.
It's essential to note that the evaluation process is rigorous, and the standards are high; only some applicants will get the funding. It's also possible to fail the evaluation process at any stage; if that happens, traders can re-apply once they have improved their trading skills and strategies.
The time it takes to become a funded trader with Topstep can vary, but it can typically take anywhere from 4 to 6 weeks.
Top Funded Trader ProgramsTopstep audition review
The Topstep-funded trading process or audition is the evaluation process traders must go through to become funded traders with Topstep. The audition process is broken down into two parts: Step 1 and Step 2.
The goal of step 1 is to evaluate the trader's ability to make profitable trades while also managing risk effectively and consistently. The goal of step 2 is to evaluate a trader's ability to trade with real money and handle the psychological pressure of trading with real capital.
Traders who complete steps 1 and 2 will be evaluated by Topstep and notified if they get funding. The audition process is rigorous, and the standards are high. However, those who pass the evaluation process will have the opportunity to become a funded trader with Topstep, which can provide access to capital, education, and support to take their trading career to the next level.
Best Forex Prop FirmsHow much can I attract as a funded trader?
As a funded trader with Topstep, the amount of capital you can attract can vary depending on your performance during the evaluation process. The capital provided by Topstep is known as "buying power," and it's used to trade with a live account. The amount of buying power that a trader is approved for is determined by Topstep, considering the trader's performance during the evaluation process, including their risk management and overall trading strategy.
The prominent Topstep Funded Trading Accounts are as follows:
For traders that pass the evaluation process, the first program is designed for traders who have proven their ability to trade profitably consistently and manage risk effectively. Traders are approved for a maximum of $50,000 in buying power. This is the most popular plan.
The Topstep funded program is designed for traders looking for more significant capital to trade with who have proven their ability to trade profitably and consistently manage risk effectively. Traders are approved for a maximum of $100,000 in buying power.
The next program is designed for traders looking for even more significant capital to trade with, who have an extensive trading track record, and have proven their ability to trade profitably and manage risk effectively consistently. Traders are approved for a buying power that can go up to $150,000.
FAQs
What is the evaluation process to become a funded trader with TopstepFX?
The evaluation process to become a funded trader with TopstepFX is called the TopstepFX Challenge. It consists of two parts: Step 1 and Step 2, which are discussed above.
How long does it take to become a funded trader with TopstepFX?
The evaluation process is typically completed in 4-6 weeks. However, it's essential to understand that the process requires a lot of dedication, commitment, and hard work.
How much capital can I attract as a funded trader with TopstepFX?
The amount of capital that can be attracted as a funded trader with TopstepFX can vary from $50,000 to $150,000 in buying power.
Can I get funded if I fail the evaluation process?
Traders who fail the evaluation process can re-apply once they have improved their trading skills and strategies. TopstepFX also provides educational resources and support to help traders improve their skills and techniques to pass the evaluation.
Team that worked on the article
Andrey Mastykin is an experienced author, editor, and content strategist who has been with Traders Union since 2020. As an editor, he is meticulous about fact-checking and ensuring the accuracy of all information published on the Traders Union platform. Andrey focuses on educating readers about the potential rewards and risks involved in trading financial markets.
He firmly believes that passive investing is a more suitable strategy for most individuals. Andrey's conservative approach and focus on risk management resonate with many readers, making him a trusted source of financial information.
Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.