Topstep vs Maverick Trading - full comparison
| Feature | Topstep | Maverick Trading |
|---|---|---|
Overall |
4.28 |
3.97 |
4.4 |
4 |
|
4.1 |
3.7 |
|
3.6 |
4.1 |
|
4.5 |
4.3 |
|
Benefits for Prop-trader |
4.4 |
3.8 |
4.7 |
3.9 |
|
|
Your capital is at risk.
|
Topstep vs Maverick Trading: pros and cons
Topstep has the brand strength and reputation that traders rely on as an industry leader and one of the Inc. 5000 fastest-growing companies in the United States. To engage in their funded account program, every trader begins with the Trading Combine. You can open a real-time virtual futures account with $50,000, $100,000, or $150,000 in purchasing power. After the Trading Combine, you will receive a funded trading account if you demonstrate consistent profitability and risk management. Topstep sends funds to your account and allows you to trade in real-time with their capital without taking any personal risks. After only eight trading days, traders can earn a funded account. The amount funded is equal to the plan chosen for the Trading Combine. Topstep is also extremely efficient in processing payouts daily, completing payouts requested before 10 a.m. CT the same day.
Founded in 2020, My Forex Funds is a proprietary trading firm based in Toronto, Canada. More than 40,000 traders from 120 countries were funded by this firm in one year, making it one of the fastest growing firms in the industry. There are a variety of programs available that can be adapted to different profiles of traders, even one does not require prior evaluation and you start with a real funded account. A profit sharing account can reach up to 85%, with a maximum size of $2,020,000 at your disposal. There are three different programs offered by My Forex Funds available on a one-time payment basis without recurring monthly fees. Rapid accounts offer 12% profit on day one while you pass the evaluation process. A range of $10,000 to $100,000 is available for funding. There are two stages in the evaluation process for the Evaluation account (the first stage targets 8% profit, and the second stage targets 5% profit). A range of $10,000 to $100,000 is available for equally funded accounts. There is no evaluation process in the Accelerated program, where you trade with a live account from day one. Account balances range from $2,000 to $50,000 and can reach $2 million. In general, the rules for complying with this prop firm vary based on the program selected, but the most common are: Maximum drawdown of 5% per day An overall drawdown of up to 12% is allowed Minimum of one trade per day for a minimum of three days per week is required
| Topstep | Maverick Trading | |
|---|---|---|
| Overall Pros | Real trading accounts are financed by a broker, there is no need to invest your funds in trading | The company doesn’t set limits on the maximum purchasing ability, so you can increase it as your professionalism grows |
| The company provides a wide range of free training materials, including free group coaching | Maverick offers terms for testing trading strategies without financial risks | |
| You can contact the support team using several convenient methods | Trading in Maverick Trading is carried out at the expense of the company's capital, not the trader's funds | |
| The broker offers a referral program for extra income | ||
| Overall Cons | The company doesn’t offer bonuses, automated trading, or other passive income options | The company doesn’t cooperate with novice traders without trading experience |
| The support service works only on weekdays during set hours |
Topstep vs Maverick Trading - regulation and safety
| Topstep | Maverick Trading | |
|---|---|---|
Regulators |
No |
No |
Country of registration |
USA |
USA |
Year of establishment |
2012 |
1997 |
Reliability of a prop trading company largely depends on its registration and regulation. The most reliable companies operate in compliance with laws of countries with high legal culture, such as the U.S., the UK, EU countries, Australia and Singapore.
A long period of operation in the global markets and awards can also provide additional information about the company. TU compared regulation and reliability of Topstep and Maverick Trading by the above criteria.
Topstep vs Maverick Trading - trading conditions, costs and leverage
Topstep
| Trading Plan | Managed amount, USD | Min trading days / Trading period | Profit target, USD | Daily loss | Max total loss | Max leverage | Price, USD |
|---|---|---|---|---|---|---|---|
| Trading plan 1 | 50 000 | 5/no limitations (under conditin of monthly payment of subscription) | 3000 | 1000 USD | 2000 USD | 1:100 | 165/month |
| Trading plan 2 | 100 000 | 6000 | 2000 USD | 3000 USD | 325/month | ||
| Trading plan 3 | 150 000 | 9000 | 3000 USD | 4500 USD | 375/month |
Maverick Trading
| Trading Plan | Managed amount, USD | Min trading days / Trading period | Profit target, USD | Daily loss | Max total loss | Max leverage | Price, USD |
|---|---|---|---|---|---|---|---|
| Qualification Program | 25 000 | Individual conditions | Individual conditions | Individual conditions | Individual conditions | Individual conditions | Depending on the experience of the trader |
Prices of offered trading plans, minimum and maximum amount under management are the most interesting aspects of a prop trading company. Risk management levels for maximum losses and profit targets also play the key role.
Topstep vs Maverick Trading - profit split
| Profit split | Topstep | Maverick Trading |
|---|---|---|
Managed amount |
n/a |
up to USD 800,000 |
% Profit split |
90% |
up to 80% |
Profit split is one of the most interesting criteria for traders. Learn about the share of trading profit you can earn by traders with Topstep and Maverick Trading.
Topstep vs Maverick Trading - trading restrictions
| Trading restrictions | Topstep | Maverick Trading |
|---|---|---|
Scalping |
Allowed |
All conditions are agreed upon individually |
News trading |
Allowed |
|
Algorithmic trading |
Allowed |
|
Mandatory Stop Loss |
No |
|
Mandatory position closing before the weekend |
Yes |
|
Other limitations |
Some prop trading companies have limitations for certain trading strategies. There can also be limitations for trading without Stop Loss, trading position rollover to weekend, etc.s
Topstep vs Maverick Trading - trading assets
| Asset Name | Topstep | Maverick Trading |
|---|---|---|
Forex |
No |
Yes |
Stocks |
No |
Yes |
Metals |
No |
Yes |
Cryptocurrencies |
No |
No |
Energy |
No |
Yes |
Indices |
No |
Yes |
ETFs |
No |
No |
Bonds |
No |
Yes |
Mutual funds |
No |
No |
Stock options |
No |
Yes |
Futures Trading |
Yes |
No |
Others |
No |
No |
Most prop trading companies focus their trading on specific markets: stock, Forex, futures and options, and in some cases cryptocurrency. If you have a preference of a specific market, compare Topstep and Maverick Trading trading assets to make a better informed choice.
Topstep vs Maverick Trading - trading platforms
| Topstep | Maverick Trading | |
|---|---|---|
МТ4 |
No |
No |
МТ5 |
No |
No |
cTrader |
No |
No |
NinjaTrader |
Yes |
No |
Other |
TSTrader , TradingView , MotiveWave, ATAS |
Affiliate Trading Platforms |
|
Your capital is at risk.
|
Trading platform is very important to many traders, particularly those who already have experience of working with trading bots and strategies on one of them. Prop trading companies mostly offer to work with MT4, MT5 and cTrader Forex trading platforms as well as proprietary platforms of large brokers. Compare trading platforms of Topstep and Maverick Trading to make the best choice.
FAQs
Can anybody become a prop trader?
You don’t need special education and status to become a prop trader. The main selection criterion is the ability to trade successfully and meet company’s risk/reward requirements.
How to get funded as a trader
You need to select one or several companies that seem interesting to you, review their conditions, submit an application and pass the primary selection of traders. As a rule, prop trading companies offer educational courses or organize competitions on demo accounts, based on the results of which you can receive financing.
What amount can I get as a funded trader?
Trading plans of prop companies are developed taking into account individual financial abilities and needs of traders. As a rule, beginners are offered plans from $10,000 to $25,000. Successful traders can attract up to $1 million in management.
How to choose a prop trading company
Choose one of the top prop trading companies for analysis.
Compare it with its key competitors using the criteria developed by TU experts.
Select the company that perfectly fits your trading strategy and style.
Submit an application and fulfill the conditions of a prop company.
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Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
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Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO). Mirjan is a cryptocurrency and stock trader. This deep understanding of the finance sector allows her to create informative and engaging content that helps readers easily navigate the complexities of the crypto world.