Earn2Trade vs Topstep 2024

Factor 1: Evaluation

Topstep

The concept of Topstep is for traders to create accounts and compete within simulated trials on the trading combine. The trading combine provides an insightful experience for the traders, personal risks are minimized, and in-depth knowledge of future trading is gained. Traders are held to certain restrictions, and those that are successful get access to founded accounts and get to trade with real money.

Earn2Trade

Getting access to a funded account is the aim of traders coming to Earn2Trade. The platform helps traders build on their knowledge and showcase their skills in the futures market.

Once traders make their monthly payments, succeed in the financial market, and pass their training exams, they can connect to firms to access funded trading accounts. I recommend you read about the Earn2Trade Funded Account to better understand how it works.

Factor 2: Features

Topstep

One thing that makes Topstep stand out among other platforms is its no-fee trading platform TSTrader. In my opinion, TSTrader is the best beginner trading platform and it doesn’t charge any fee for combined trades. It also includes all the basic charts needed to manage your day trades. It works on any device and also supports third-party add-ons.

Another great feature of Topstep is the different coaching opportunities available. You can ask questions live and have them answered by an industry expert. It offers group coaching so that you can learn without the one-on-one pressure.

Topstep offers its users a thriving community where they may ask questions in an interactive chatroom. The chatroom contains simulated users and funded traders happy to help answer your questions.

You should also go through my Topstep Funded Account to help you understand the platform’s strengths and weaknesses.

Earn2Trade

Earn2Trade offers its customers access to a wide range of essential tools and comprehensive educational programs that cover everything from basic trading concepts to advanced strategies. Their programs include webinars, video lessons, and other educational materials.

The platform also features an analytic tool called Journalytix. This reporting tool enables traders to effectively track their trades by recording, categorizing, and analyzing them. Jornalytix also helps in implementing trading strategies and managing risks efficiently.

Another great feature of Earn2Trade is that it provides traders with economic calendars, news feeds, and tools for charting. The platform supports numerous volume chart types, such as the regular candlestick and range style charts.

Check out my Earn2Trade review to understand its strengths and weaknesses before deciding.

Factor 3: Costs

Earn2Trade

Earn2Trade offers two payment plans; the trader career path and the gauntlet mini.

The trader career path plan costs $150 per month. Traders get $25000 in virtual capital to use in futures exchanges. This plan has a daily loss limit of $550, and the profit goal is $1750. The EOS drawdown of this subscription is $1500. It also allows traders to reset their evaluations for $100.

To proceed into a funded account, traders must trade for a minimum of 15 days to be regarded for promotion, more so there is a consistency rule which states that “a single trading day can’t account for more than 30% of their total profit or losses”.

The gauntlet mini is akin to the trader career path. However, the gauntlet mini allows traders to choose their starting capital. Starting capital choices affects your trading goals, and traders should be sure to crosscheck the objectives. The virtual starting capital of the gauntlet mini ranges from $50000 to $200000. The four plans under the gauntlet mini are

Topstep

For traders trading on simulated accounts, Topstep offers three membership options. They also offer a 14-day free trial that doesn’t require the addition of a credit card. Membership fees are paid monthly, and targets are to be met to be promoted to funded status. There are stipulated maximum positions, buying power, weekly loss limit, and maximum drawdowns to be adhered to. The membership options are listed below:

• $50k buying power: this has a monthly price of $49 and is the most popular. The maximum profit target (per step) is $3000, and the daily loss limit is a thousand dollars. Also, it has a trailing max drawdown of $5000 and a maximum position size of FIVE.
• $100k buying power: this plan has a monthly price of $99. The trailing max drawdown of this plan is $6000, and a maximum contract position of TEN. The profit target per step is $6000, allowing a daily loss limit of $2000.
• $150k buying power: this is the most expensive plan offered by Topstep for $149 a month. The trailing max drawdown is $4500, and its maximum position size is 15 contracts. This plan boasts a profit target (per step) of $9000 and a daily loss limit of $3000.

By the way, do go through my Topstep vs FTMO review to see how this platform performs against similar services.
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Factor 4: External Customer Reviews & Ratings

External Earn2Trade Reviews & Ratings

Site	Rating
Trustpilot
DayTradingz	4.5
Forex Broker Report	4.7

External TopStepTrader Reviews & Ratings

Earn2Trade vs TopStep: The Main Differences

There are more similarities than differences between Earn2Trade and TopStep. Many of the features and rules are either the same or very similar, with a couple of noticeable exceptions.

The first major difference I noticed was with the minimum trading days. Earn2Trade has a minimum number of trading days set at 15, while TopStep only requires its traders to trade 5 days per trading period. Comparing this feature between the two platforms, its a clear advantage to TopStep, as they offer greater flexibility and freedom to their traders.

The second glaring difference is the leverage allowed by the platforms. Earn2Trade does not allow traders to use leverage, while TopStep allows 1:100 max leverage. This means that traders with TopStep can trade larger contracts and make more profits, but conversely, the leverage also means they can lose much more money on a single trade.

Which leverage option is preferable comes down to your risk management strategies and personal preference.

Earn2trade vs Topstep: Our Summary

Choosing between Earn2Trade and Topstep isn’t easy. If you are looking for a straight path to becoming a funded trader, Earn2Trade is your go-to. The educational materials offered and the variety of plans available for you to choose from make it ideal for someone hoping to become a funded trader. Funded traders pay no monthly fee on Earn2Trade.

Topstep offers similar products to Earn2Trade. However, the membership fees are pretty high, which can discourage traders. The bar for getting a funded account is relatively high compared to Earn2Trade.

The educational range of Topstep supersedes that of earn2trade. For introductory traders, Topstep would be ideal, and for more experienced traders, Earn2Trade would do the trick.

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FAQs

How Do I Choose A Prop Trading Company?

When selecting a proprietary trading company, it’s crucial to start with a thorough analysis of the top firms in the industry. Begin by comparing these companies against each other based on criteria that are most important to you, such as tradable assets, funded account size, leverage options, and the conditions of the evaluation phase. Also, consider the profit split ratio, as this will affect your earnings.

It’s essential to select a company that aligns well with your trading strategy and style to maximize your chances of success. Once you’ve narrowed down your choices, carefully review other traders’ experiences and feedback to get a sense of the company’s reputation and trader satisfaction.

After conducting comprehensive research and comparison, choose the prop trading company that best fits your specific needs and preferences. Proceed by submitting an application and ensure you fully understand and are prepared to meet the conditions set forth by the prop company. By taking a methodical and informed approach, you’ll be better positioned to find a prop trading firm that supports your trading goals and helps you progress in your trading career.

What Are The Main Benefits Of Working With A Prop Company?

Prop Trading firms offer several benefits to successful traders including:

1. Increased Trading Capital: Prop trading firms provide traders with access to substantial capital, significantly enhancing their trading potential and profit opportunities. This increased capital allows traders to employ strategies that may be less risky and more diversified.
2. Risk Management Support: These firms often have robust risk management systems in place, helping traders minimize losses and manage their trades more effectively.
3. Professional Infrastructure: Traders gain access to professional trading infrastructure, including advanced technology, tools, and platforms, which can improve execution and research capabilities.
4. Educational Resources: Prop trading companies often offer educational courses, seminars, and the opportunity to exchange experiences with other traders, contributing to continuous professional development.
5. Collaborative Environment: Being part of a prop trading firm means joining a community of traders, which can foster a collaborative environment, offering support, and sharing strategies for success.

What Is The Maximum Withdrawal From TopStep?

At TopStep, the withdrawal policy is structured to benefit traders with a progressive profit-sharing model. Initially, traders are entitled to receive 100% of their profits for the first $10,000 they earn, allowing them to fully capitalize on their early trading successes.

Once a trader surpasses this threshold, the profit split adjusts to a 90/10 ratio, where the trader retains 90% of subsequent profits, and TopStep retains 10%. Additionally, traders have the option to request payouts up to 50% of their account balance, provided they have achieved five winning trading days for each payout request.

Can You Trade Forex With Earn2Trade?

On the Trader Career Path or Gauntlet Mini products, traders have access to all futures assets from CME Group exchanges, including  CBOT, NYMEX, CME, and COMEX, as well as their Micros. However, it is important to note that Forex trading is not available on the Trader Career Path or Gauntlet Mini trading products.

Can I Use TradingView With TopStep?

Yes, TopStep has added an integration that allows you to trade within the TradingView platform.