TopStepTrader is a funded trader program that provides traders with the opportunity to earn while they learn. They offer simulated trading combines where you can compete to win real money. You get funded with a live trading account if you make it through.
The concept is simple: traders open an account and compete in the trading simulator trials called the Trading Combine. You win a funded trading account if you finish in the top percentage. TopStep supports 14 platforms, including NinjaTrader, TradingView, and their TSTrader. They have traders from 143 countries and offer accounts in 10 currencies.
If you’re looking to take your day trading to the next level, TopStep could be the stepping stone you need to reach your goals. But is it the best day trading course? Here is a detailed TopStep Trading review to determine if it is worth it.
Learn More About TopStep
So you want to become a day trader, huh? Before you dive in, you’ll need to choose a course to learn the ropes. TopStepTrader is a popular choice, but is it the best? Let’s look at some of their key features to help you decide.
- No-Fee Trading Platform: TSTrader, TopStep’s trading platform, doesn’t charge any fees for Combine trades. Once you become a funded trader, you only pay $0.79 per contract.
- Good Profit Split: Funded professional traders get to keep 100% of their profits up to $10,000. After that, TopStep takes a 20% cut. This is a pretty good deal compared to other futures prop firms that take 50% or more.
- Multiple Trading Platform Options: You’ll have 14 platforms to pick from while working to become funded. TSTrader is the most popular, but you can also use platforms like Bookmap X-Ray, InvestorRT, MultiCharts, and more.
- Basic Charts: TopStepTrader offers typical charts like candlesticks, bar charts, line graphs, and points & figures. However, their charting capabilities are pretty basic. If you want advanced charts, you’ll need to use another platform.
- Group Coaching: Every Monday and Wednesday at 1 PM CST, TopStepTrader hosts a group coaching webinar. This biweekly session is a great way to build your skills without the pressure of a one-on-one meeting.
- Performance Coaching Plan: If you need help breaking bad habits or want to take your trading to the next level, the Performance Coaching Plan provides monthly one-on-one sessions with your coach.
- Digital Coaching: TopStepTrader’s “Coach T” is an AI-powered digital coach. It provides:
- A customizable checklist to keep you on track
- A trading plan template to outline your strategy
- Alerts to notify you of important financial market events
- A “Trader IQ” quiz to test your knowledge
- A trading journal to record your thoughts and progress
- Weekly emails with educational content and tips
- Community Help: Beyond education and coaching, TopStepTrader has built a thriving community. You can connect with fellow traders in the chat room, ask questions, share insights, and learn from the experiences of simulation users and stock-funded traders
TopStepTrader offers four membership levels for simulation profit traders, with buying power ranging from $50,000 up to $150,000. The fees for each trading experience level vary depending on the amount of buying power and profit targets.
$50k Buying Power
For $165 per month, you get $50,000 in buying power to trade with during the simulation. The program’s profit target for each “step” is $3,000. You can have a maximum of 5 contract positions open at once, a daily loss limit of $1,000, and a maximum trailing drawdown of $2,000.
$100k Buying Power
Double the buying power for $325 per month. The profit target increases to $6,000 per step. You can have 10 contracts open, a daily loss limit of $2,000, and a $3,000 maximum drawdown.
$150k Buying Power
The top tier gives you $150,000 in buying power for $375 monthly. The profit target is $9,000 per step, you can trade up to 15 contracts at once, daily losses are capped at $3,000, and the max drawdown is $4,500.
There are penalties for “blowing up” your account during simulation trading. TopStepTrader charges $100 for each account reset. The fees may seem high, but the buying power and potential to learn how to trade profitably make the cost worthwhile for active traders. The 14-day free trial gives you a chance to experience their program with no credit card required.
Is TopStep The Best Day Trading Course
So, is TopStepTrader the best day trading course? For many aspiring day traders, TopStepTrader can be an excellent place to start. Their educational platform provides many resources to help you learn the basics and beyond.
TopStep offers courses covering everything from how to read charts to developing a trading plan. You’ll learn essential trading skills like identifying support and resistance levels, using indicators, and risk management skills. The on-demand video lessons let you learn at your own pace.
However, TopStep may not be ideal for experienced traders and seasoned traders. The fees from the Trading Combine can add up quickly, especially if you need multiple attempts to pass. Monthly subscription rates are expensive, too, so you’ll want to ensure day trading is right for you before committing long-term.
For more information on TopStep Trader, click here to sign up. Plus remember to look out for promo codes and coupon code links to save on sign-up fees when starting your trading journey.
Get Started With TopStep