Topstep Review

Topstep is the industry’s leading Futures Prop Trading Firm that has been operating for over 10 years. The proprietary trading firm funds and trains traders to create mutually profitable, revenue-sharing-based partnerships. The company is based in Chicago, IL and its CEO is Michael Patak, a former Dow futures contracts floor trader at the Chicago Board of Trade.

Their program known as the “Trading Combine” provides traders with the opportunity to earn funding in a safe environment while also honing their skills, discipline, and trade execution. The Trading Combine is for traders of all levels, whether you are new to this space or a pro. For profitable traders, it is essentially “free capital” to trade yet keeping the lion’s share of the profits. For traders new to the industry, the Trading Combine is a safe environment to develop your skills without paying full price for errors as you learn.

The first $10,000 is 100% for the trader and then there is 90/10 profit split afterwards. In fact, current users withdrew over $23,000,000 in profits since 2020, Topstep is paying out on average 800+ funded accounts on a monthly basis. Our review covers how Topstep works, why they succeed in a competitive prop trading industry, how to pass the 1-step evaluation program called the Trading Combine, ongoing fees, available instruments, and more.

To earn a funded account with Topstep and be eligible for payouts, traders will firstly need to prove that they can trade efficiently and profitably within a simulated account called The Trading Combine. This is an experiential learning and evaluation program designed for futures traders. Traders develop and test their skills in simulated markets and earn funding capital upon achieving specific trading objectives. While earning a Funded Account® is one possible outcome, the discipline and habits promoted by the Trading Combine are beneficial for traders of all levels.

Topstep Trader offers simulated accounts with a range of starting balances, various amounts of allowable open positions, and multiple daily/total loss limits. Notably, the balance the simulated account traders start with will also be the size of the funded account they choose for themselves and pay for once they successfully complete the evaluation program.

Topstep offers a unique program known as the Trading Combine which has three different account sizes, each of which has a monthly recurring cost. Pricing varies according to the size of the simulated account. The least expensive account, with a $50,000 funding capital, costs $49/month. The most expensive account, with a $150,000 funding capital, costs $149/month.

The Trading Combine is a simulated account, the size of the account is entirely your choice but will determine the size of your future funded trading account with Topstep once you successfully pass the evaluation. Note that whilst Topstep offers a 14-day Free Trial, trades made during this period are not considered for promotion to a funded account.

There is an activation fee which is a one-time flat fee charge of $149 per Funded Account earned. The activation fee helps the prop firm cover the costs associated with evaluating and onboarding new funded traders, in addition to the ongoing support and services provided while the trader has been given funding.

The activation fee covers services provided to the Funded Trader. These include:

  • Onboarding and monitoring of Funded Trader accounts
  • Data & Platform costs
  • Third-party software that handles contracts and payouts
  • Ongoing support from our dedicated Risk Managers and Funding Specialists

Based on how they perform on the evaluation programme, traders earn a funded account as little as 2 days by passing a 1-step evaluation called the Trading Combine. This means reaching the Topstep profit target, while achieving the trading objectives.

Topstep’s trading objectives are tried-and-true risk management tools developed by professional traders. Following them will help traders become a more disciplined trader. Trading requires skill and can be challenging, therefore only about 22% of traders make it to becoming funded traders. This group has the potential to earn money from Topstep as funded traders keep their first $10,000 in profits and 90% of all profits thereafter.

It is important to note, however, that rules still apply even for funded traders. While the monthly simulation fee is dropped, traders are responsible for paying the one-time activation fee of $149 per Funded Account.

1 Step. 1 Rule. The Trading Combine

THE #1 RULE

At Topstep, teaching traders’ discipline and risk management is the main priority. This can be thought of as a risk management tool that enable traders to prepare themselves for long term success and profitability in the markets.

  • The most important rule is to never hit or exceed your Maximum Loss Limit. 
  • The Maximum Loss Limit is the most a trader can lose, updated at the end of each trading day, based on the realized profits made in the trader’s account. It helps traders keep the profits they have earned and encourages them not to give too much back to the markets.
  • Exceeding the Maximum Loss Limit results in a rule break and your account will no longer be eligible for funding.
  • The Maximum Loss Limit is critical to risk management and longevity in the markets. Remember to “always trade for tomorrow”.
  • The Maximum Loss Limit is based on your end of day balance and is designed to give you more room to trade.

These non-rule violating objectives are part of the Trading Plan that they ask traders to follow. Please note that under no circumstances will you be considered a rule breaker or ineligibility for funding.

  • Consistency Target
    ○ Best Day below 30% of total profits made.
  • Profit Target
     ○ Reach and maintain the $3,000 profit target.
  • Daily Loss Limit
    ○ Do not hit or exceed the Daily Loss Limit or your account will be deactivated for that trading day.
 
  • Up to 5 Express Funded Accounts (XFA)
  • Automated XFA Creation within minutes

Earn Funding in 2 Days

Topstep’s 1 Step. 1 Rule. Trading Combine enables traders to get the fastest access to funding—in as little as 2 days! This is quite a big deal for the prop trading industry. However, Topstep wants to make sure that traders understand that discipline and risk management should never be overlooked.

  • Topstep’s evaluation programme Trading Combine allows you to earn funding in as little as four days!
  • This is the fastest program you will find across the prop firm industry.
  • Topstep wants to quickly reward hard working and disciplined traders with the capital funding they deserve.
  • Topstep has the #1 Payout Policy in the industry. Funded Traders can pay themselves up to 4 times a month!

If you follow these guidelines as well as reaching/maintaining the profit target and consistency target, you will then advance to the Express Funded Account.

For more information about the rules and objectives, you can head to the Topstep Help Centre which is of great assistance when it comes to explaining the rules.

Group Coaching:
Group Coaching is a great way to connect with and learn from experts and peers! Discuss current market trends, news, and get answers to your burning questions live from futures trading veteran, John Hoagland, every Monday, and Wednesday at 1 PM CST. 

(NEW!) One-on-One Coaching
Check in with an expert regularly to discuss your trading approach, risk management, and mindset needed to get funded and pay yourself. Their coaches are here to help you succeed! 

Digital Coaching with Coach T:
Topstep’s trading dashboard features Coach T, a digital performance coach providing tools and personalized trading stats to help you become a smarter, more disciplined trader. Coach T guides traders in achieving Funded Trader status every time they get in front of the trading screens.

Topstep has introduced its one-of-a-kind and built-in futures trading platform called TopstepX™, setting a new standard for the industry.

TopstepX™
TopstepX™ is a tailor-made trading platform designed exclusively for Topstep traders. Leveraging over ten years of industry expertise, insights, and feedback, Topstep’s CEO Mickael Patak has collaborated with a group of world-class traders and software developers to create a pioneering trading platform. TopstepX™ goes above and beyond, providing more than just a platform to execute trades: it offers the Ultimate Trading Xperience™. TopstepX™ gives traders access to all of Topstep’s offerings in one comprehensive platform.

TopstepX™ Features

It is quite simple to create a TopstepX™ account and it enables seamless trading from any location.

  • Sign up and start trading in under a minute, without any connection instructions.
  • The web-based trading platform is compatible with both Macs and PCs.
  • Topstep plans to introduce a dedicated mobile app for both iOS and Android in the near future.

The TopstepX platform offers incredible features:

  • The evaluation process, The Trading Combine®, is always only one step, with one rule.
  • Fully integrated licensed TradingView® charts, offering traders drawing tools, indicators, and customisations.
  • The Tilt™, a prop trading indicator providing real-time insights into the bias long and bias short of all Topstep traders.
  • Dedicated data feed directly from the (CME) Chicago Mercantile Exchange.
  • Simple ‘bracket’ orders with drag and drop profit and risk targets, which help traders deal with all the mathematics.
  • Simplified production selection, ensuring traders remain on the front month and avoid excessive contracts.
  • Auto-closure of positions at end-of-day and auto-liquidation when you achieve your profit target, preventing you trading past it.
  • Integrated live TopstepTV™ feed for motivational support throughout the trading day.
  • Live Chat Support connecting traders directly with the Topstep support team.
  • Permitted products drop-down table with individual indicators showing if the market is open for specific products.

You can explore the TopstepX™ trading platform further at TopstepX™.

Additional Trading Platforms

Topstep Trader also provides a variety of trading platforms which can be used with both in simulations as well as funded accounts.

TopstepX™ Features

It is quite simple to create a TopstepX™ account and it enables seamless trading from any location.

  • Sign up and start trading in under a minute, without any connection instructions.
  • The web-based trading platform is compatible with both Macs and PCs.
  • Topstep plans to introduce a dedicated mobile app for both iOS and Android in the near future.

The TopstepX platform offers incredible features:

  • The evaluation process, The Trading Combine®, is always only one step, with one rule.
  • Fully integrated licensed TradingView® charts, offering traders drawing tools, indicators, and customisations.
  • The Tilt™, a prop trading indicator providing real-time insights into the bias long and bias short of all Topstep traders.
  • Dedicated data feed directly from the (CME) Chicago Mercantile Exchange.
  • Simple ‘bracket’ orders with drag and drop profit and risk targets, which help traders deal with all the mathematics.
  • Simplified production selection, ensuring traders remain on the front month and avoid excessive contracts.
  • Auto-closure of positions at end-of-day and auto-liquidation when you achieve your profit target, preventing you trading past it.
  • Integrated live TopstepTV™ feed for motivational support throughout the trading day.
  • Live Chat Support connecting traders directly with the Topstep support team.
  • Permitted products drop-down table with individual indicators showing if the market is open for specific products.

You can explore the TopstepX™ trading platform further at TopstepX™.

Additional Trading Platforms
Topstep Trader also provides a variety of trading platforms which can be used with both in simulations as well as funded accounts.

Positions cannot be held on trading days between 3:10 p.m. and 5:00 p.m. Central Time (in Trading Combine accounts). Some futures markets close before 3:10 p.m. Central Time. If you are trading one of these products, you must exit that market before the daily close of the given product. You should also consider the designated holidays according to the CME Protocol.

More info about Topstep rules and trading hours at Topstep.com

Topstep has one of the best, if not The best payout policy in the prop trading industry. It allows traders to take weekly payouts as well as getting access to 100% of their profits after accumulating 30 winning trading days!

Traders can also request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. Note that a winning trading day is taken into account when a day’s Net PNL is $200 or above.

Once traders have accumulated 30 winning trading days in their account, they can unlock access to 100% of their balance. Going forward, traders can request up to 100% of their balance with each payout request. Keep in mind that, if a full 100% payout is requested, the Funded Account will be closed since the balance will be brought to the Maximum Loss Limit. Payout requests can then be made anytime, for any amount, up to 100%.

Topstep has recently made another step in the right direction by putting together something that no other prop firm possess in the industry. Topstep TV, streaming live from the Topstep headquarter, traders can learn from expert traders every Monday–Friday. The newly established channel on YouTube has been gaining lots of traction and has been welcomed positively by the Topstep community. What a way to stay in the loop!

  • Opportunity for traders with little capital to achieve a funded trading account.
  • Prop trading firm with over 10 years of experience in the industry and an excellent reputation.
  • Topstep TV (streaming live every Monday-Friday)
  • Funded traders keep 100% of their first $10,000 profit and a 90/10 of Profit Split thereafter.
  • Free training and coaching programs to help you safely and securely succeed in becoming a Topstep Trader 
  • Simulator forces extremely high standards for trading and minimizes risks.
  • 60% Discount offer (no code required) on the purchase of your first Trading Combine.
  • Industry leading Trader Support team. Offers email, phone, screen share, and chat support.
  • Fast Payout Processing
  • Up to 5 Express Funded Accounts (XFA)
  • Futures trading only.
  • Only runs sales occasionally.

Topstep is the premier funding opportunity for new and veteran futures traders. Their goal is ultimately to provide a safe environment so that traders can profit from their passion and safely engage in the financial markets. If you follow the rules and pass our simulated trading evaluation, called the Trading Combine® you will be able to trade with their capital. It is the ideal place for traders looking for strong buying power to build their own trading career, the ones that have a passion for trading but struggle with trading consistently, and the beginners looking to jump into the world trading with guidance and coaching. Topstep Trader’s funding program offers access to various trading platforms and educational resources such as the digital performance coaching sessions with Coach T which provides tools and personalized trading stats to help traders become smarter, and more disciplined.

Overall, we must admit, Topstep has put together THE industry leading futures proprietary firm where traders can experience optimum trading conditions in a safe environment.

Please refer to the following pages of our website to read about similar other Futures Prop Firms in the industry: The Trading Pit Review

Topstep has the best payout policy in the industry that allows disciplined traders to take weekly payouts. The best part? You get access to 100% of your profits after accumulating 30 winning trading days.

Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. A winning trading day is counted when a day’s Net PNL is $200 or more.

Read more For Payout Policy.

You can submit a request through this form in our app. Payouts are processed daily, but may take up to 10 business days to receive.

When a payout is requested and approved, and all appropriate forms are submitted (ACH / Wire / SWIFT info & KYC documents), we will remove the funds from the trader’s account. Topstep will then start the process of sending the funds to the trader. Your Payout arrival will depend on the payment method.

The available payout methods are:

  • ACH: up to 10 business days

  • International Wire/SWIFT: up to 3-5 business days

These transfer times are only estimates and may be impacted by additional reviews or requests for information at the discretion of the payment providers or the Finance & Compliance Team. Most payment providers, especially banks, do not process payments on weekends and public holidays.

*Minimum Payout Request is $125.00.

Traders will receive 100% of the profits from payouts, up to $10,000. After the first $10,000 of funds have been received by the trader, the profit split will become 90/10, with the trader receiving 90% of payouts and Topstep® retaining 10% of the requested payout. The payout policy is per trader and can be across multiple Funded Accounts. You will keep 100% of your profits until your payouts across Funded Accounts cumulatively add up to $10,000. Once your cumulative payouts exceed $10,000, you will be subject to the 90/10 profit split.

Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).

Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).

Topstep does not offer Forex trading, our program is for Futures trading only. However, we highly recommend Foreign Exchange Futures to anyone with a Forex trading background. Learn more about the advantages of trading Futures and FX Futures here!

You can reset your account at any time during your subscription to change the status of your account from ineligible to eligible by purchasing a Reset through your Trader Dashboard.

You will also have the option to practice on the account and reset it at a later date. We allow traders to do this on an account that is not eligible for funding so that they can iron out their strategy before trying for funding again.

Although the reset never feels good, it emulates the feeling of losing real capital in the market at a fraction of the cost of real losses you might experience in a traditional brokerage account.

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