Topstep Trader is one of the most popular prop firm trading companies on the market.
Their focus is on both forex and futures trading and they are designed to bring on serious traders, which you see very clearly in their structure.
Topstep is a trustworthy firm located in Chicago, Illinois. They are highly-rated by their traders and people who have had the opportunity to review them.
Here’s a few key things about them:
- Their profit split is set up very nicely with an 80% split across the board. No scaling and no trying to reach minimums to get a better split.
- They offer 100% profits on your first $5,000, which is a pretty cool bonus in your pocket.
- Have been around since 2012. They really focus on serious traders in forex and futures trading.
- Their traders have a lot of awesome resources available to them, including digital coaching.
- Their funding ranges from $50K to $500K and you pay a monthly fee for services.
If you’re wondering, how does TopStep compare to the other sheriff in town, FTMO? Well, lucky you, I have a full detailed comparison between TopStep Trader vs FTMO.
Topstep Trader Programs
Topstep offers 3 program choices in both futures and forex, with different buying powers and tiers for monthly payments as well.
Keep in mind that the first $5,000 has a 100% profit and then it’s 80% for the trader after that.
| Type | Funding Amount | Monthly Fee | Profit Split |
|---|---|---|---|
| Futures | $50,000 | $165 | 80% |
| Futures | $100,000 | $325 | 80% |
| Futures | $150,000 | $375 | 80% |
| Forex | $200,000 | $125 | 80% |
| Forex | $300,000 | $165 | 80% |
| Forex | $500,000 | $275 | 80% |
Their Pros
- 1:100 leverage on trades
- Digital coaching and other resources available
- You get 100% profits on the first $5,000 and 80% after that
- Designed for serious traders
- Up to $500,000 buying power funding
- 2-step evaluation process
Their Cons
- There is no weekend holding according to Topstep’s rules
- The guidelines and rules are fairly strict since they are built for serious traders
Is Topstep Trader Legitimate?
Topstep Trader is most definitely a real and reliable company. Their home base is located in Chicago, Illinois and they’ve been operating since 2012.
They were founded by a gentleman named Michael Patak. They are highly-rated in the market, particularly for forex and futures trading endeavors.
Topstep Trader has pretty high funding limits considering they work with futures and forex specifically. They also have a really nice profit split.
That 100% profit on the first $5,000 is probably what leads people to question their legitimacy the most but that’s just a small amount on a grander scale.
You can see it in the numbers. In 2021 alone, traders have successfully withdrawn more than $2 million.
How Does Topstep Trader Work?
The first step with Topstep is to get approved so you can get funded. They do have a 2-step evaluation process and you have to apply.
Of course, in order to get past Step 1, you must prove to the company that you can profit. That is the point, after all. They have a profit target based on the funding and the account that you choose.
You need to choose your funding level and choose the profit target you’re willing to work towards and then manage the risk of doing so.
Step 2 of the evaluation is managing the risk. You have a specific amount of time to be able to make that profit target and minimize risk in your trading.
You will be responsible for the monthly fee while you work through the evaluation steps.
The funding amounts do depend on the level you choose.
Futures funding ranges from $50K to $150K and forex funding ranges from $200K to $500K. There are 3 levels on each platform.
How Much Can You Make with Topstep Trader?
The amount that you can make with Topstep really is up to what you are willing and able to do to make profits.
It does take some talent and taking advantage of the resources in order to meet the challenges and make the most of the profits available to you.
How much you make will depend on how much profit you can pull in within your given funding limits, risk management, and trading guidelines from the company.
Remember that Topstep does not have a scaled profit split so you can plan your earnings based on their profit split and it’s a static number.
You might even use this to set your goals. You do earn 100% of the profits on your first $5,000, which is a pretty sweet deal out the gate.
After that mark, you will earn an 80% profit split straight across. No scaling or anything like that.
The only thing you need to be aware of is your monthly fee, which is pretty minimal if you are turning around quality profits.
The Positives of Topstep Trader
These are a few of our favorite things and you should definitely be aware of them! It’s what sets Topstep apart.
Profit Split
The profit split with Topstep is one of the highest out there. It’s a solid 80% split and it makes absolutely no difference which tier or plan or program you are a part of.
Everyone earns an 80% split and there is no question as to how to reach the next level or scale to a higher percentage.
When you compare this 80% to other top companies like The 5ers, Fidel Crest, DT4x, and more, you’re getting a really great return on your work.
So many companies out there max out at 70% but here, you never get less than 80%. You also get that 100% on the first $5,000, in case you missed that before!
Tons of Resources
One of the reasons that Topstep is highly-rated is because of the resources that they make available to their traders. They have tons of educational materials as well as a variety of other things.
Not only do they have plenty of training, videos, and other tools available but they even provide you with coaches.
Their coaching network is pretty extensive and perhaps a resource that sets this company apart in the end. They have digital coaches, group coaching, and personal coaching as well.
With all of the resources here, they set you up for success and that is really the point, right?
Program Options
Topstep works with forex and futures trading but they have plenty of options so you can choose what works for you. In each of these categories, they have 3 funding tiers to choose from.
Each of those has a set buying power as well as set profit and challenge period timeline.
Once you hit your objectives, Topstep just funds you. There is no runaround, no questioning when you get funded, it’s just simple. You pass, you get funded and you don’t have to worry about the details.
Some companies take an unusual amount of time to provide funding and this is definitely not helpful to a serious trader.
You’re here to get funded and you earned it so you should get it without having to jump through any more hoops, right?
Buying Power
Topstep has several different tiers of their program to choose from, which I’ve covered in detail. They also have a really great buying power limit.
With futures, you can get up to $150,000 and with forex, you can get up to $500,000.
Both of these are competitive against other companies in the market and both of them give you plenty of room to do the work you’re here to get done.
Your buying power funding is really what makes your operation tick and with these funding limits, you know you have a lot of working room.
There are certainly higher limits out there but these are nothing to sneeze at!
The Negatives About Topstep
Despite me basically bragging about Topstep, there are a couple of things that might be downers as well.
Passing Verification
Topstep is known for having some strict rules and being challenging to pass their evaluation process. This is set up this way for a reason and that is because they focus on pulling in serious traders.
While I see the logic behind the design, it’s still not my favorite to know that it might be impossible to pass the challenges, right?
On that note, it is realistic that you will be able to pass. You can check out the requirements and plan for how you want to attack the process as well.
No Weekend Holding
A lot of people like having some flexibility and this includes weekend holding.
Topstep really limits their traders when they enforce a rule such as no weekend holding.
Once again, I can see the logic behind their ruling but this could easily be a deal breaker for some.
No Scaling
Many will see it as a benefit that you don’t have to worry about scaling but others will see it as a negative.
The good news is that you get an 80% profit split and when the payout is that good you really don’t need the scaling options.
However, the competitive side of people get upset that there is no scaling because everyone just gets the same thing even when some turn around better dollars.
