TopStep Funding Account Trader Experience: What Do Traders Like?

Jeremy BiberdorfBy: Jeremy Biberdorf

February 19, 2024February 19, 2024

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Proprietary trading, or prop trading as it’s more commonly known, represents a unique and compelling frontier in the financial world. It’s where individual traders leverage the capital of a firm to earn profits from market movements, rather than trading with their own funds.

This approach not only minimizes personal financial risk but also opens up a realm of opportunities for traders to access more substantial sums of money and potentially achieve higher returns. Among the various platforms offering a gateway into this lucrative domain, TopStep stands out for its innovative approach to nurturing talent in the futures trading market.

The TopStep Funding account trader experience has earned it high marks from users. Established to empower aspiring traders, TopStep offers a distinctive model that combines education, risk management, and a pathway to trading with a funded account.

This model has made it possible for individuals around the globe to engage in prop trading without the initial capital traditionally required, democratizing access to financial markets and offering a practical training ground for those looking to refine their trading strategies.

In the coming article I’ll dive deep into what makes TopStep a preferred choice for traders aiming to carve out a successful career in proprietary trading, highlighting the unique benefits and real-world impact of the TopStep funding account experience.
Learn More About TopStep

What Is TopStep Trader?

TopStepTrader, or simply TopStep, was founded by Michael Patak, a former trader at the Chicago Board of Trade who transitioned from trading Dow futures to creating a platform that embodies the pinnacle of trading opportunities.

The idea for TopStep was born out of Patak’s own trading challenges, including the loss of three brokerage accounts, which led him to recognize the need for a safer, more supportive environment for traders to develop their skills without risking their personal finances.

Launched as an LLC in July 2012, the name TopStepTrader is inspired by the tradition where the most successful traders in the trading pits stood on the top step, symbolizing superior access and visibility in the market.

Over the years, TopStep has made significant strides, funding thousands of

traders globally and distributing millions in withdrawals. This innovative platform has carved out a niche in the trading world by allowing individuals to trade with live capital in a risk-managed environment.

TopStep has been recognized among the Inc. 5000 list of America’s fastest-growing private companies and featured on the Deloitte Technology Fast 500 list, which to me is a testament to its impact and success. Despite its accolades and accomplishments, TopStep remains focused on its core mission: to foster the development of successful traders through a supportive, risk-free trading environment.

TopStep Funding Account Trader Experience

To better help you understand the TopStep Funding account trader experience, let’s look at the the features users can expect with TopStep:

  • Trading Platforms Support: TopStep is compatible with multiple trading platforms, including TSTrader, TradingView, and NinjaTrader, catering to various trading styles and preferences. TSTrader is favored by beginners for its simplicity, while NinjaTrader and TradingView offer advanced functionalities for seasoned traders.
  • Education and Coaching: Provides a wealth of educational resources, including daily live trading classes, trading psychology lessons, and the chance to observe professional traders in action, aimed at enhancing trading skills across all levels.
  • Group Coaching: Bi-weekly webinars offer an interactive platform for traders to refine their skills and stay abreast of market trends.
  • Performance Coaching Plan: This service offers personalized coaching sessions with experienced traders, tailored to individual trading goals and strategies, available for a monthly fee.
  • Digital Coaching with ‘Coach T’: A digital tool that delivers checklists, personalized trading plans, performance tracking, and alert systems to support traders on their journey to a funded account.
  • Community Engagement: TopStep fosters a vibrant trading community where members can share insights, receive feedback, and engage with peers in chat rooms and on social media platforms, enhancing the TopStep Funding account trader experience.
  • Profit Sharing Structure: TopStep offers an attractive profit-sharing model, where traders keep 100% of their first $10,000 in profits and then 90% thereafter, promoting a lucrative opportunity for successful traders.

TopStepTrader: How It Works

To shine more light on the trader experience with TopStepTrader, here is the general process and must-know details about how the program works:

Trading Combine Overview:

  • Monthly Subscription: The journey begins with a fee, starting at $49 for a $50,000 simulated account, scaling up to $149 for a $150,000 account.
  • Simulation Account Sizes: Traders can choose from $50,000 to $150,000 simulated funds, determining their profit targets, loss limits, and other critical trading parameters.

Key Trading Parameters:

  • Profit Targets: For a $50,000 account, the target is $3,000.
  • Maximum Position Size: Varies with account size, affecting how many contracts a trader can hold.
  • Daily Loss Limit: Set at $1,000 for the $50K account, which, if breached, halts trading for the day.
  • Trailing Maximum Drawdown: For the $50K account, it’s set at $2,000, recalculated at day’s end.

Topstep’s Unique Rules:

  • Trading Days Requirement: Trade for at least five days, not necessarily consecutive, adhering to all rules.
  • Profit and Consistency: Besides hitting the profit target, no single day’s profit should exceed 50% of the overall target to ensure consistent performance.
  • Non-negotiable Rule: The Maximum Loss Limit, if breached even once, disqualifies the trader from the Combine.

Navigating Through the Combine:

  1. Choose Your Challenge: Decide on an account size, each with specific targets and limits.
  2. Adhere to the Rules: Maintain discipline by not exceeding the daily loss limit and managing your positions to not hit the trailing drawdown limit.
  3. Achieve Your Target: Reach the set profit target without breaking any rule to qualify for the next step.

Final Thoughts

TopStep’s approach is unique, blending comprehensive educational resources, one-on-one coaching, and a vibrant community of traders. This blend not only simplifies the trading process but also empowers individuals from various backgrounds to sharpen their skills and build confidence in their trading decisions. Whether you’re starting fresh or looking to elevate your trading game, TopStep has something valuable to offer.

The success stories speak for themselves, thousands of traders funded, millions in withdrawals, and a growing list of accolades. Yet, at its core, TopStep remains dedicated to its mission of nurturing successful traders through a supportive and risk-managed environment.

If you’re itching to carve out your niche in the proprietary trading world without the stress of risking your own capital, I think TopStep is the place to start. Click Here to discover how you can turn your trading aspirations into reality with TopStep by your side.
Get Started with TopStep

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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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