Take Profit Trader vs TopStep 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
 

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In the world of proprietary trading firms, two names that frequently come up are Take Profit Trader and TopStepTrader (TopStep). Both platforms offer traders the opportunity to showcase their skills and get funded, but they come with their unique features, benefits, and challenges.

Before diving into the specifics of Take Profit Trader and TopStep, it’s important to understand the broader context of proprietary trading firms. These entities provide traders with the capital to trade in exchange for a share of the profits. They play a crucial role in the financial markets by offering a platform for skilled traders to access substantial capital without the need for personal investment, effectively democratizing access to the trading world.

This review will delve into the nitty-gritty of both firms, highlighting what sets them apart and where they stand in the competitive landscape of prop trading.

For more detailed analysis of each product check out our full reviews:

Take Profit Trader is Better for:TopStep is Better for:
Ideal for futures traders looking for fast withdrawals.Suitable for new day traders wanting to learn and succeed.
Offers 80% profit share with the instant withdrawal process.Supports a broad range of popular trading platforms.
Provides three resets for pro accounts, enhancing flexibility.Offers extensive educational tools with live classes for learning.
Features a wide choice of trading platforms for diverse trading needs.Suitable for clients looking for robust customer support.
Emphasizes realistic profit targets and regular trading competitions.Known for stringent but fair criteria for getting funded.

Introducing the Platforms

Take Profit Trader

takeprofittrader.com website

Take Profit Trader is a prop firm that shines in the futures market, offering traders a chance to manage significant capital with minimal personal financial risk. The platform is lauded for its straightforward model, emphasizing simplicity and transparency in trading.

Take Profit Trader has carved a niche for itself by focusing on the futures market, catering to traders who appreciate a straightforward and transparent trading experience. Founded by James Sixsmith, a former athlete turned trading enthusiast, the firm stands out for its commitment to trader education and its unique approach to risk management.

Unlike many of its competitors, Take Profit Trader emphasizes the importance of simple trading rules and effective strategy development, helping traders navigate the often volatile futures market with confidence.

Read my in-depth review for insights into how Take Profit Trader can be your gateway to trading success.

TopStepTrader

topstep.com website

TopStep, on the other hand, operates on a model that simulates live trading environments, making it an excellent platform for beginners and experienced traders alike. With support for 14 trading platforms, TopStep is versatile, catering to a wide audience.

TopStepTrader, more commonly known as TopStep, has established itself as a leader in the field of proprietary trading firms, particularly for those new to day trading. With its innovative Trading Combine program, TopStep offers a simulated trading environment that closely mimics real market conditions.

This program is designed to test traders’ skills and discipline under market-like scenarios, with the ultimate goal of funding successful candidates. The company’s emphasis on education, combined with a wide range of supported trading platforms, makes it an ideal choice for aspiring traders looking to hone their skills in a risk-controlled environment.

Its educational resources and live classes make it a hub for learning and growth. However, TopStep’s stringent criteria for funding might pose a challenge for some traders. Discover more about TopStep and how it could fit into your trading journey – check out my full review.

Take Profit Trader logo TopStep logo
Type of Service Futures Trading Simulated Live Trading
Best Use Generating Steady Income Learning and Succeeding
Customer Support High Quality Comprehensive Support
Unique Features Realistic Profit Targets Extensive Educational Tools
Integration Wide Choice of Platforms 16 Trading Platforms Supported
Modest Money Review Take Profit Trader Review TopStep Review
Current Promotion

Learn More

Save 50% with code MODESTMONEY

Learn More

Save 60% via link!
Modest Money Overall Rating
4.8 rating based on 5 ratings
4.8 rating based on 5 ratings
Take Profit Trader logo
Type of Service Futures Trading
Best Use Generating Steady Income
Customer Support High Quality
Unique Features Realistic Profit Targets
Integration Wide Choice of Platforms
Modest Money Review Take Profit Trader Review
Current Promotion

Learn More

Save 50% with code MODESTMONEY
Modest Money Overall Rating
4.8 rating based on 5 ratings
TopStep logo
Type of Service Simulated Live Trading
Best Use Learning and Succeeding
Customer Support Comprehensive Support
Unique Features Extensive Educational Tools
Integration 16 Trading Platforms Supported
Modest Money Review TopStep Review
Current Promotion

Learn More

Save 60% via link!
Modest Money Overall Rating
4.8 rating based on 5 ratings

Factor 1: Profit Sharing and Withdrawals

Take Profit Trader Pro accounts offer an 80% profit share with instant withdrawal

  • TopStep provides a 90% profit split for successful trades.
  • Take Profit Trader is favored for its immediate withdrawal process and high profit share.

Take Profit Trader excels in offering traders a significant portion of the profits, with an 80% share that stands out in the industry. The instant withdrawal process is a major plus, allowing traders to access their earnings swiftly – enhancing the trading experience and financial flexibility.

TopStep, while offering a slightly higher profit split of 90%, may have a more involved withdrawal process. Although the higher percentage is attractive, the ease and speed of accessing funds are crucial for many traders, giving Take Profit Trader an edge in this category.

Factor 2: Educational Resources

TopStep provides extensive educational tools and live classes

  • Take Profit Trader focuses on straightforward trading rules and free comprehensive learning resources.
  • TopStep is preferred for its wide range of educational offerings and structured learning paths.

TopStep stands out with its commitment to trader education, offering a plethora of resources, including live classes that cater to traders at different levels of expertise. This focus on education not only helps traders improve their skills but also prepares them for the challenges of live trading.

Take Profit Trader, while providing quality education for free, might not match the extensive and structured educational content that TopStep offers. For traders prioritizing learning and development, TopStep’s educational resources make it a more attractive option.

Factor 3: Platform Flexibility and Integration

Take Profit Trader supports a wide choice of trading platforms

  • TopStep is compatible with 16 different trading platforms, including popular ones like NinjaTrader and TradingView.
  • Take Profit Trader is favored for its flexibility in platform choice and ease of integration.

Take Profit Trader offers traders the freedom to choose from a broad selection of trading platforms, ensuring compatibility with their preferred trading styles and strategies. This flexibility is a significant advantage, allowing traders to operate in environments they are comfortable and proficient in.

TopStep, despite supporting a substantial number of platforms, may not provide the same level of flexibility as Take Profit Trader. The ability to seamlessly integrate with a trader’s chosen platform is essential for a smooth trading experience, giving Take Profit Trader the upper hand in this aspect.

Factor 4: Access to Capital and Trading Competitions

Take Profit Trader provides pro accounts with access to significant capital and three resets

  • TopStep offers funded accounts based on the successful completion of its Trading Combine.
  • Take Profit Trader is preferred for its access to larger capital and competitive trading environment.

Take Profit Trader not only offers traders access to substantial capital but also enhances the trading experience with regular competition. These competitions not only provide a platform for showcasing skills but also offer additional incentives, making the trading journey more engaging and rewarding.

TopStep, while providing a pathway to funded accounts through its Trading Combine, may not offer the same level of direct access to capital or the competitive environment that Take Profit Trader does. For traders looking for more than just funding, Take Profit Trader’s approach to capital access and engagement is more appealing.

Factor 5: Trading Criteria and Restrictions

TopStep has stringent criteria for getting funded but ensures disciplined trading.

  • Take Profit Trader emphasizes simple trading rules and realistic profit targets.
  • TopStep is favored for its structured approach to fostering disciplined and successful traders.

TopStep’s stringent criteria, including its Trading Combine, might pose a challenge for some traders. However, these criteria are designed to instill discipline and ensure that only the most skilled and consistent traders get funded. This approach not only benefits the trader in the long run but also aligns with the firm’s commitment to responsible trading.

Take Profit Trader’s focus on simplicity and realistic profit targets is commendable. However, the structured and disciplined environment that TopStep creates through its criteria and restrictions offers a more comprehensive approach to trader development, making it a better fit for those looking to build a sustainable trading career.

Factor 6: Trading Community and Support

Take Profit Trader boasts an engaging private Discord channel and superior customer service.

  • TopStepTrader offers a lively community with group coaching and individual performance coaching.
  • TopStep stands out for traders seeking a rich community and structured support.

TopStepTrader emphasizes a community-driven approach, providing traders with not only the tools but also the support system they need to succeed. Through its group coaching webinars and individualized performance coaching plans, TopStep creates an environment where traders can learn from each other and seasoned professionals. This collaborative atmosphere is instrumental for beginners and experienced traders alike, as it fosters a culture of continuous learning and improvement, crucial in the ever-evolving world of trading.

Take Profit Trader, on the other hand, places a strong emphasis on building a supportive and active trading community through its private Discord channel. This platform allows traders to share insights, strategies, and encouragement in real time, creating a sense of camaraderie and collective growth.

Coupled with its exceptional customer service, Take Profit Trader ensures that its members are well-supported and informed, making it an attractive option for traders who value a sense of community and responsive support.

Factor 7: Risk Management and Trader Safety

Take Profit Trader uses a risk-of-ruin system to safeguard traders’ interests.

  • TopStepTrader’s Trading Combine imposes a strict Maximum Loss Limit for discipline.
  • TopStep is ideal for those prioritizing strict risk management and safety.

TopStepTrader’s approach to risk management is notably rigorous, with its Trading Combine program setting clear boundaries through a Maximum Loss Limit. This rule is designed to instill a disciplined trading mindset, ensuring that traders adhere to strict risk management principles.

The program’s structure not only prepares traders for the pressures of live markets but also underscores the importance of protecting one’s capital. For traders who prioritize safety and discipline in their trading practice, TopStepTrader’s methodology offers a comprehensive framework for developing these essential skills.

Take Profit Trader’s innovative risk-of-ruin system distinguishes itself by focusing on trader protection. This system is designed to minimize the chances of significant losses, effectively shielding traders from the potential pitfalls of high-risk trading.

By absorbing losses on Pro Accounts, Take Profit Trader allows its traders to operate within a safety net, encouraging a more focused approach to strategy and execution without the looming fear of catastrophic losses. This approach is particularly appealing to traders who value security and wish to develop their skills in a more controlled risk environment.

The Verdict

In the competitive landscape of proprietary trading firms, Take Profit Trader and TopStep both offer unique advantages to their users. While Take Profit Trader excels in profit sharing, withdrawal processes, and platform flexibility, TopStep stands out with its extensive educational resources and structured approach to trading criteria.

For traders prioritizing immediate access to earnings and flexibility in trading platforms, Take Profit Trader emerges as the slightly more favorable option. However, for those who value education and a disciplined pathway to trading success, TopStep provides a solid foundation.

Ultimately, the choice between Take Profit Trader and TopStep will depend on individual trader priorities, including the importance of education, platform flexibility, and ease of profit withdrawal. Regardless of the choice, both platforms offer valuable opportunities for traders to grow and succeed in the dynamic world of prop trading.

Ready to embark on your trading journey? Click here to consider Take Profit Trader for a flexible and rewarding trading experience, or explore TopStep for a comprehensive educational approach to trading success.

Get Started With Take Profit Trader

Get Started With TopStep

Frequently Asked Questions

How do I start with Take Profit Trader or TopStep?

Visit their websites, choose a program that suits your trading style, and undergo their evaluation processes to qualify for a funded account.

Can I trade any market with these firms?

Take Profit Trader focuses mainly on futures, while TopStep offers futures trading with plans to expand into other markets.

What are the key benefits of joining a prop firm?

Access to significant trading capital, professional trading platforms, and educational resources without risking personal funds.

How much can I earn?

Earnings depend on your trading success; both firms offer a profit share, with Take Profit Trader offering an 80% share and TopStep up to 90%.

What if I incur losses?

Losses in the evaluation phase affect your ability to qualify for a funded account, but once funded, firms like Take Profit Trader may absorb losses to a certain extent.

Can I trade full-time with these firms?

Yes, many traders use prop trading as their full-time profession, leveraging the firms’ capital and resources for their trading activities.

How does the payout process work?

Upon meeting profit targets and adhering to the firms’ rules, you can request a payout, which is processed directly to your bank account or preferred payment method.

What happens if I violate the trading rules?

Violating rules can result in the termination of your evaluation or funded account, but firms often offer a reset option for traders to try again.