Is TopStep Worth It? An Overview

Jeremy BiberdorfBy: Jeremy Biberdorf

August 28, 2023August 28, 2023


TopStepTrader is a funded trader program designed for those into futures trading. But is TopStep worth it? Let’s dive deep into its features, benefits, and some user TopStepTrader reviews.
Learn More About TopStep

What Is TopStepTrader?

TopStepTrader presents a unique opportunity for traders to kickstart their trading careers without the hindrance of capital constraints. Designed specifically for futures traders, the platform is endorsed as one of the leading day trading platforms where traders can learn and thrive . Its fundamental value proposition lies in its commitment to support traders’ development irrespective of their skill level or trading status, thereby eliminating the risk of deploying one’s own capital .

The way it functions is intuitive: participants hone their trading skills in a simulated market environment. Upon reaching predefined trading objectives, they qualify for funding. Acquiring a Funded Account® isn’t the sole aim; the process fosters discipline and instills beneficial trading habits that serve traders of varying expertise . Moreover, upon achieving a Funded Account status, traders are perpetually close to securing funding. Specifically, if a trader clears Step 2 of the Trading Combine, they can be funded in as brief a duration as three trading days, emphasizing the platform’s efficiency and dedication to its participants .

Benefits of Trading With TopStep

TopStepTrader offers traders the opportunity to trade on its platforms using TopStep’s capital after successfully qualifying through their evaluation process. The platform’s main appeal is its funded trader program which enables traders to learn the ropes of day trading while also having the potential to earn. The company has a straightforward profit-sharing arrangement where qualified traders keep 100% of their first $10,000 in profits and then 90% of profits beyond that mark.

Focusing primarily on futures trading, TopStep was founded by Michael Patak in Chicago in 2012 and quickly made a name for itself. The platform’s structure lets traders compete in simulated trials on the Trading Combine to showcase their skills. Those who excel have the opportunity to be promoted and possibly gain a funded account[2].

While the platform offers a 14-day free trial and multiple membership options, traders should be cautious. The Trading Combine comes with rules, and any misstep, like a bad trade, can result in fees. For instance, if a trader blows up their Trading Combine account, TopStepTrader charges a $100 reset fee.

However, for those who are diligent and dedicated, TopStepTrader provides a legitimate platform to enhance day trading skills, test them in a near-real environment, and potentially make significant earnings.

For Whom Is TopStepTrader Best Suited?

Breaking into the trading world often requires significant capital, which might be a barrier for many. TopStepTrader provides a potential path for these individuals to trade with a funded account without the need for a large initial investment. By offering a funded account to successful candidates, the platform allows traders to navigate the markets without risking their own money.

The TopStepTrader evaluation process demands discipline, adherence to rules, and solid risk management. This can be instrumental in instilling good trading habits.  For those who tend to deviate from their trading plan, the strict rules can act as a safety net, forcing them to adhere to best practices.

Before implementing a new strategy with their own capital, traders can use TopStepTrader as a testing ground, minimizing potential losses. The platform’s feedback mechanisms can provide insights into the effectiveness and viability of new strategies.

TopStepTrader offers a challenge to traders to prove their skills. Earning a funded account acts not just as a financial boon but also as recognition of one’s trading acumen. For some, the competitive nature of the platform can act as a motivator, pushing them to constantly improve and refine their skills.

User Feedback

With many traders singing its praises, it’s evident that they value the user experience. Most users command the program for its impeccable customer service. One user mentioned, “Sarah went above and beyond to help get me back on track in my accounts”. Another noted the importance of a supportive community, stating the “Discord group is full of new and experienced traders sharing their progress, thoughts and tips”.

While the program is mostly well-received, it’s not without its challenges. There were technical issues with the Tradovate platform that affected users. Nonetheless, TopStepTrader’s response was impressive. One trader wrote, “They had an issue with Tradovate and offered a free transfer to another platform and a full refund… they are the best!”.

However, there are some concerns raised by users. A few cited a “lack of communication” and some discrepancies with their advertising.

Is TopStep Worth It?

So, is TopStepTrader worth it? It primarily depends on individual circumstances and what one is hoping to get out of the platform. For those who see it as a learning opportunity or a chance to trade without risking personal capital, it can be an invaluable tool. However, for others who might not be comfortable with the profit-sharing model or strict rules, other avenues of trading might be more appropriate. Like any financial decision, potential users should do thorough research, perhaps try a demo or a trial, and consider their personal situation and goals before committing.

If you’re looking for a platform to kickstart your futures trading journey, TopStepTrader could be a solid choice. Click here to get started.

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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