Topstep mobile app: main features and functionality
Topstep
Topstep is a Chicago-based financial technology company that assesses day traders' performance on live simulated accounts. Prior to uniting under the name Topstep in 2020, the company was initially known as TopstepTrader for futures and TopstepFX for Forex trading.
In order to trade futures contracts on the market using the firm's capital, traders must pass the Trading Combine, an evaluation conducted by the corporation. It aids traders everywhere in reframing their perspectives and discovering constant success without putting their own money in danger.
Topstep app has paid millions in payouts while funding thousands of traders worldwide. Topstep Trader will finance up to $150,000 of your futures trading if you apply for the program and pass their evaluation. During the examined simulation, TopstepTrader rates your profitability and risk-management abilities. There are other companies as well that offer such services. Topstep's two main competitors are SurgeTrader and FTMO. Let's compare these companies for better clarification.
| FTMO | SurgeTrader | Topstep | |
|---|---|---|---|
| Mobile App Rating | Google Play- 4.6 | No app | Google Play- 2.7 |
| User friendliness | Very User-Friendly | Moderate | |
| Updates | Updates Frequently. The last update was on 09-Jan-2023. | Very few updates. The last update was on 02-Apr-2018. | |
| Biometric and two-factor authentication | No | No |
How to download and set up the Topstep app?
The steps to download the Topstep app are as follows:
Download the Topstep app from AppStore or Google play store, depending on your mobile's operating system.
How to download and set up the Topstep app
Futures or Forex trading are your two available trading alternatives. Select the desired option, then click the "Start Trading" button.
How to download and set up the Topstep app
Select "Start My Trading Combine" from the menu.
How to download and set up the Topstep app
Then decide the Topstep account type you want based on your desired level of commissions and purchasing power. Additionally, you can examine the trading conditions of other accounts and choose the currency of the account. Select the "Select" button next to the desired account.
How to download and set up the Topstep app
If you are already a registered user, enter your login id and password. Tap on the "Register here" text beside the "Login" button to create a new account.
How to download and set up the Topstep app
To log into your account, complete the form with your personal information, including your full name, email address, and password.
How to download and set up the Topstep app
Type your phone number. Your broker will send you a 4-digit verification code to your phone when you click the "Send Verification Code" button. Enter the code you received. You can return and modify the phone number if necessary.
How to download and set up the Topstep app
Pay a charge now in order to use the broker's services. Depending on the account type you selected, the sum will vary.
How to download and set up the Topstep app
Your account is all set to use.
Main features of the Topstep mobile app
Zero fee trading platform
It is important to note that Topstep's Trading Combine supports over 14 different trading platforms, but TSTrader is best for beginners. For Combine trades, TSTrader doesn't charge commissions; on a Funded Account, it charges $0.79 per contract. It works on any device, supports add-ons from third parties, and provides all the fundamental charts for managing your day trading career.
Education and coaching
Topstep's traders' dedication to instruction and education, both newcomers and seasoned professionals, can pick up profitable new strategies. Some of these coaching solutions are cost-free. However, customers who have more money can pay for customized performance coaching sessions.
Performance Coaching Plan
Get rid of your negative trading habits rapidly with the Performance Coaching Plan. You will have a private conversation with your coach once each month. You will have the chance to review your trades and get suggestions on where you erred. The Performance Coaching Plan requires a monthly subscription, which is $395; funded traders receive this service free of charge.
Community support
The vibrant community on TopstepTrader is one of its best characteristics. Users can ask inquiries in the interactive chat area, and simulation users and funded traders will be pleased to respond. On social media, there are also vibrant Topstep communities. By far, its most engaged community is on Facebook.
Best Forex Funded AccountsAdditional features of the Topstep app
Topstep app
Guaranteed funding
One of the few businesses in the sector, Topstep, would grant you a live account when you pass their evaluation. There aren't any further examinations or tests. Steps 1 and 2 must be finished in order to receive your real account.
Support
They have a fantastic trader support team. At every step of the journey, their staff is at your side. Although they promise to respond within one business day, they typically respond much more quickly than that! They also provide support in Russian and Spanish.
Best Funded Trader Programs ComparedMain advantages and disadvantages of the Topstep mobile app
👍 Topstep pros:
• Traders are not required to invest their own funds in real trading accounts because a prop company finances them.
•The business offers a variety of free training resources, such as free group coaching.
•There are various practical ways to get in touch with the support staff.
• For additional income, a company provides a referral scheme.
👎 Topstep cons:
•The company does not provide bonuses, automated trading, or other side income opportunities.
• Only during specific hours on weekdays does the support service operate.
FAQs
Can a person have more than one Topstep account?
There is no constraint on the number of active Trading Combine accounts one can own simultaneously.
Does Topstep perform a monthly reset?
Before your subsequent billing date, if you violate any guidelines in your Trading Combine account, Topset will reset your account without charge.
What is the Topstep profit split?
The profit split will change to 90/10, with the trader getting 90% of withdrawals and Topstep keeping 10% of the requested payout once the trader has received the first $5,000 in funds.
Is Topstep regulated?
No. Similar to most prop companies, Topstep is unregulated. However, this company is based in the USA and its activities are in full compliance with the laws of the USA.
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.