Topstep Scaling Plan
Topstep is a prop firm that offers a variety of products and services for traders and investors. The company is best known for its TopstepFX program, designed to identify and certify traders with the skills and discipline to succeed in the markets.
TopstepFX uses a rigorous evaluation process to assess traders' abilities, including simulated trading, psychological testing, and ongoing performance monitoring. Traders who pass the evaluation process earn the right to trade with real money and receive access to educational resources and other benefits. This article deals with Topstep Scaling Plan review.
Topstep Scaling is a way for traders to prove their skills; it's a series of evaluation processes that test the Trader's ability and discipline. Traders who pass the evaluation process will be certified and have access to trade with real money and other benefits.
Best Prop Trading FirmsWhat is the Topstep Scaling Plan?
The Topstep Scaling Plan is a part of Step 2 of evaluations used by Topstep to assess the skills and discipline of traders who want to participate in the TopstepFX program. The plan is designed to identify traders who have what it takes to be successful in the markets and provide them with the opportunity to trade with real money.
Traders must pass a series of evaluation steps based on a combination of performance, risk management, and other factors. Each step is designed to test different aspects of trading, and traders must pass each step before moving on to the next one. Once a trader has passed all the steps, they will be certified and allowed to trade with real money.
The Topstep Scaling Plan is meant to make trade easy for traders. The program is aimed at helping them understand the live market and build equity without taking any unwanted risks. Ever since the Scaling Plan's introduction, the traders' longevity in their funding account has significantly increased.
Best Forex Prop FirmsTopstep Scaling Plan packages
Topstep offers a variety of Scaling Plan packages for traders to choose from. The packages vary regarding the amount of capital provided, the number of contracts allowed to trade, and the evaluation process required to pass. Some of the most popular packages include:
$50,000 Account: This package provides traders with the opportunity to trade with real money and the potential to earn a funded trading account. The evaluation process includes a simulated trading evaluation, psychological testing, and ongoing performance monitoring.
$100,000 Account: This package is designed for traders who still need to be ready to trade with real money. A simulated trading evaluation allows traders to prove their skills and discipline before moving on to the funded trader package.
$150,000 Account: This package is designed for professional traders who want to prove their abilities and earn a funded trading account. The evaluation process is more rigorous than the standard Funded Trader package and includes a simulated trading evaluation, psychological testing, and ongoing performance monitoring.
These are the most popular packages, but Topstep may offer other options; these packages are subject to change and may be updated. To keep up with the Scaling Phase, the traders must pass the Topstep Combine program.
Best Funded Trader Programs ComparedEvaluation program account rules
The evaluation program account rules are a set of guidelines traders must follow to participate in the Topstep Scaling Plan. It allows traders to leverage their funded accounts.
These rules include requirements for minimum account size, maximum position size, risk management practices, and guidelines for using automated trading systems and other tools.
Some of the critical rules of the evaluation program include the following:
Minimum account size: Traders must pass Step 1 of the Combine package to have the minimum account size of the Topstep Scaling plan.
Risk management: Traders must use appropriate risk management practices, such as stopping-loss orders and maintaining a minimum margin requirement.
Performance monitoring: Topstep continuously monitors traders' performance throughout the evaluation process, and traders who fail to meet the performance requirements will be removed from the program. The traders will receive feedback at the end of each trading day.
Example of Scaling Plan Topstep
TopStep Trader's program determines the number of contracts or lots that the balance can trade at the end of each day. For example, on the first day of evaluation or a funded account, the starting balance is $100,000, and the Trader can trade up to 3 lots. Once the profit threshold of $1,500 is reached, the Trader can trade four lots. However, if the balance falls below the point, the Trader returns to trading three lots. The number of lots that can be traded increases as the balance grows, and the program is unique in its approach compared to other programs.
Best Forex Funded AccountsFAQs
What is the Topstep Scaling Plan?
The Topstep Scaling Plan is a series of evaluations used by Topstep to assess the skills and discipline of traders who want to participate in the TopstepFX program. The plan is designed to identify traders who have what it takes to be successful in the markets and provide them with the opportunity to trade with real money.
How does the Scaling Plan work?
The Scaling Plan typically includes a combination of simulated trading, psychological testing, and ongoing performance monitoring. Traders who pass the evaluations are allowed to trade with increasing amounts of capital, starting with a small amount and working their way up to larger amounts as they demonstrate their abilities.
What are the requirements to participate in the Scaling Plan?
To participate in the Scaling Plan, traders must have a minimum account size of $400 and must be willing to comply with the rules and guidelines set by Topstep. This includes following risk management practices, using approved automated trading systems, and meeting performance requirements.
What are the benefits of passing the Scaling Plan?
Traders who pass the Scaling Plan will be certified by Topstep and have the opportunity to trade with real money. They will also have access to educational resources and other benefits such as mentorship programs, network opportunities, and access to funding opportunities.
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.