Is TopStepTrader a Scam?

Jeremy BiberdorfBy: Jeremy Biberdorf

July 5, 2023July 5, 2023

TopStepTrader

Are you considering using TopStepTrader for your trading needs but wondering if it’s a legitimate platform? With so many trading options available in today’s market, it’s crucial to do your due diligence and make sure you’re choosing a reliable platform.

You don’t want to risk your hard-earned money on a scam or a platform that’s not trustworthy. In this article, we’ll dive into the details of TopStepTrader to determine if it’s a legitimate platform and if it’s worth your investment. So, let’s get started and find out if TopStepTrader is a scam, or the real deal!

Learn More About TopStepTrader

Company Background

topstep.com website

TopStepTrader is a proprietary trading firm that offers an innovative approach to trading through its Trading Combine program. Launched in 2010 by Michael Patak, a successful futures trader, TopStepTrader provides an opportunity for aspiring traders to prove their skills and receive funding from the firm to trade.

The company is headquartered in Chicago, Illinois, and has gained significant traction in the trading community since its inception. TopStepTrader has a rigorous evaluation process and has funded thousands of traders worldwide, enabling them to trade in various financial markets.

As an established company with a track record of success, TopStepTrader has earned a reputation as a trusted and reliable platform in the trading industry.

Trading Combine – The Key Feature

TopStepTrader’s Trading Combine is a unique program designed to evaluate traders’ performance and provide them with the opportunity to trade the firm’s capital if they meet specific criteria. The Trading Combine offers various performance levels, each with its challenges and funding amounts. A brief summary of the program is as follows:

  • Traders choose from different account sizes and are given a virtual funded account to trade. The account sizes range between $50,000 to $150,000, with monthly subscription fees between $49 and $149.
  • Traders must meet specific profit targets and follow risk management rules to pass the Trading Combine’s two-step evaluation process.
  • Upon successful completion, traders receive a funded trading account and share profits with TopStepTrader, typically at a 80% (trader) to 20% (firm) split.

This program can benefit traders who have the skills and discipline to navigate financial markets. It provides a low-risk, low-cost opportunity to prove one’s abilities and earn a funded trading account. The performance evaluation process also acts as an educational experience, allowing traders to learn from their actions and improve their skills.

Refuting Negative Customer Reviews

As with any platform, there are bound to be negative customer reviews. It’s essential to address these concerns and provide context to properly evaluate TopStepTrader. One such negative review states:

“I set an nq call, and the system said it failed. Suddenly I found that the system automatically bought for me, and it wasn’t my setting price which exceeded 20 points. When I tried to stop the loss “accident” call, the system helped me do the reverse trade. I am so sure that I didn’t have any mistake of my setting. I am so disappointed with the system because I want to get money from it. No chance for the funny system again!”

This review highlights a possible issue with the trading software, not TopStepTrader itself. TopStepTrader is responsible for providing the evaluation process and funding opportunities. However, the trading software is an external tool and can have its challenges. It’s crucial to contact the software provider or TopStepTrader’s support team if any technical issues arise during the trading process.

Click here to check out our article focused on highlighting the overwhelming positive reviews and ratings of TopStepTrader.

Security and Privacy

TopStepTrader takes the security and privacy of its users seriously. The platform incorporates industry-standard security measures to protect user data and financial information. Some key security measures include:

  • Encryption: TopStepTrader uses bank-level encryption to secure user data. All data transmitted between your device and TopStepTrader’s servers is encrypted using the HTTPS protocol, ensuring the same level of protection as banks.
  • Privacy Policy: TopStepTrader has a comprehensive privacy policy outlining how it collects, uses, and shares user data. The platform does not sell user data to third parties or share information with advertisers.

Pros and Cons of TopStepTrader

Pros

  1. Provides an opportunity to trade funded accounts without risking personal capital.
  2. Offers a two-step evaluation process that helps traders improve their skills and discipline.
  3. Gives traders access to multiple trading products, including futures, forex, and cryptocurrencies.
  4. Responsive customer support and an active trading community for sharing ideas and learning.

Cons

  1. Monthly subscription fees can add up if traders do not pass the evaluation process quickly.
  2. Some traders may not agree with the risk management rules imposed during the evaluation process.
  3. The platform may not be suitable for more experienced traders with significant personal capital to trade.
  4. Dependency on third-party trading software, which may have its technical issues.

Final Thoughts – Is TopStepTrader a Scam?

After evaluating TopStepTrader’s background, features, pros, cons, and security measures, we can conclude that TopStepTrader is not a scam. It offers a unique opportunity for traders to prove their skills without risking their capital while providing the chance to trade a funded account backed by the firm.

While it may not be the ideal platform for everyone, TopStepTrader is certainly a valuable option for those who want to pursue a trading career with minimal initial investment.

Click here to get started with TopStepTrader, and if you’re still unsure if TopStepTrader is a scam, you might want to check out Earn2Trade. Just make sure to do your research, understand the risks involved, and make informed decisions that align with your goals and financial situation.

Get Started With TopStepTrader and Save 20%

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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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