Are you looking for a platform that can help you get started in day trading? If so, you might be wondering if TopStepTrader is a legitimate option. TopStepTrader is a funded trader program that specializes in helping futures traders get started in the day trading world. With support for 14 different trading platforms and a simulated account, the platform is ideal for new and experienced day traders who are looking to make big money. So if you’re looking to cut to the chase, yes TopStepTrader is legit!
TopStepTrader is a well-established platform that is open to traders from all over the world, with 143 countries represented in its trading community. The platform provides traders with the opportunity to trade futures with the firm’s money and keep most of the profits. In 2020, funded traders withdrew over $2 million from TopStepTrader, which is a testament to its legitimacy.
In this blog, we will take a closer look at TopStepTrader, its features, and what users are saying about the platform to help you determine if it’s the right tool for you. If you’re looking for a reliable platform that can help you get started in day trading, is TopStepTrader worth it? We think yes, continue reading to see why.
Learn More About TopStepTrader
When was TopStepTrader Founded?
TopStepTrader is a well-established online trading platform founded by Michael Patak in 2012.. With a focus on providing traders with the necessary tools and resources for success in financial markets, TopStepTrader has established itself as a trusted and respected player in the industry.
The company has built a reputation for delivering top-notch educational resources and innovative trading tools, attracting a global customer base that spans over multiple countries. This has earned TopStepTrader a trustworthy reputation and the confidence of its customers.
The longevity of the company, being in business for several years, is a testament to its legitimacy, and ability to provide value. A company that has been able to survive and grow for such a significant period of time is extremely unlikely to be a fake or a scam. The continued success of TopStepTrader is a strong indicator of the trust and confidence placed in the platform and its services by its customers.
It’s difficult to ignore the enthusiasm expressed in many TopStepTraders reviews. With a 4.5 (Excellent) rating on Trustpilot, from over 1,500 reviews, it’s easy to get a sense of what to expect with the company. Customers praise the strict rules and restrictions imposed by TopStepTrader, which they see as a means of developing discipline and consistency in their trading. The customer service is also highly rated, with reviewers expressing appreciation for the responsiveness and helpfulness of TopStepTrader’s support team.
One reviewer attributes their improvement as a trader to their experience with TopStepTrader, citing a change in attitude towards the rules and increased self-discipline. Another reviewer highlights the supportive community and access to educational resources as a major advantage of the platform.
Here are a couple actual reviews from verified users:
Payouts and Becoming Funded
When it comes to actually making money with TopStep, traders need to understand that like all things, it takes practice and discipline to be successful. The good news is that many traders do pass the TopStep Trading Combine requirements and earn a funded account, which allows them to trade with real money and potentially earn profits. In order to receive a funded account, traders must meet two parameters – demonstrating profit potential and managing risk. A funded trader status is akin to being a professional trader.
Once traders receive a funded account, they receive 100% of their initial profits from payouts, up to a total of $5,000. After that, the profit split becomes 90/10, with individual traders receiving 90% of profits and TopStep retaining 10%. Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days (when a day’s net P&L is $100 or more). For example, if a trader starts with a $100 account balance and has five winning trading days with an account balance of $5,000, they can request a payout of $2,500, which is 50% of their profit.
It’s important to note that all traders looking to be funded must abide by the rules established by the combined. These rules specify trading schedule, profit targets, maximum drawdowns, minimum trading days, and loss limits.
Over $3 million was withdrawn by traders in 2021, and payouts can be made via an online form on the app. Funds are removed immediately from the TopStep account, however, payouts are typically credited within two to five working days. Withdrawal methods are limited to bank wire transfers, and there are no payment fees, but there is a $50 cost for failed transfers. It is the trader’s responsibility to pay taxes based on their local jurisdiction.
Final Thoughts – Is TopStepTrader Legit?
TopStepTrader is a well-established, legitimate platform for day traders looking to get started in the industry or improve their skills. With a focus on providing traders with the necessary tools and resources for success, TopStepTrader has established itself as a trusted and respected player in the industry. The platform has a strong reputation, with a 4.5 (Excellent) rating on Trustpilot and glowing reviews from satisfied customers.
The strict rules and restrictions imposed by TopStepTrader are seen by many customers as a means of developing discipline and consistency in their trading, and the customer service is highly rated for its responsiveness and helpfulness. The longevity of the company, being in business for several years, is a testament to its legitimacy, and ability to provide value.
Based on the information discussed in this blog, it’s clear that TopStepTrader is a legitimate platform worth considering for those looking to get started in day trading or improve their skills. The platform’s focus on providing traders with the necessary tools and resources for success, combined with its positive reputation and customer reviews, make it a strong choice for those looking to make big money in the day trading world. Click here to get started with TopStepTrader today.
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