TopStep vs Elite Trader Funding 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
 

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Day trading is a world of high-risk, high-reward opportunities. To thrive in it, traders need access to robust tools, reliable funding, and the ability to trade with discipline. For those who don’t have the necessary capital to fund their own trading or are looking to prove their trading skills, trading evaluation and funding companies are an excellent resource.

In 2023, two platforms are leading the charge in this niche – TopStep and Elite Trader Funding. Both platforms offer traders the opportunity to earn a funded trading account, and they provide a variety of tools to enhance trading performance.

For more detailed analysis of TopStep check out our full TopStep review.

TopStep is Better for:Elite Trader Funding is Better for:
Structured Trading Evaluation ProcessFlexible Funding Program
Educational ResourcesCompetitive Profit Split
Simulated Trading EnvironmentLow Drawdown Levels
Dedicated Performance CoachesQuick Account Funding
Traders Who Prefer Strict Trading RulesExperienced Traders Seeking More Freedom
Affordable Evaluation CostMultiple Account Sizes

The importance of platforms like TopStep and Elite Trader Funding in the trading world of today cannot be overstated. They offer a unique proposition for traders to showcase their skills and get access to substantial trading capital without risking their own money.

TopStep is renowned for its structured trading evaluation process and a wealth of educational resources, making it an ideal choice for those wanting to learn while they trade. To understand more about this platform, check out our in-depth TopStep Review 2023.

Elite Trader Funding, with its flexible funding program and competitive profit split, is tailored for seasoned traders seeking more freedom and higher profits.

Ultimately, the choice between TopStep vs. Elite Trader Funding will depend on your trading style, experience level, and individual trading needs.

TopStep Elite Trader Funding
Best For Traders who prefer a structured trading evaluation process and strong educational resources. Traders who prefer a structured trading evaluation process and strong educational resources.
Evaluation Process Structured two-step simulation with set profit targets and specific risk parameters. More flexible, focusing on consistent profits and low drawdown levels.
Educational Resources Offers a wealth of resources, including lessons, webinars, and podcasts. Also provides a Performance Coaching program. Primarily focuses on providing reliable customer support.
Pricing Three main account sizes: $50K ($49/month), $100K ($99/month), and $150K ($149/month). Various evaluation plans ranging from $45 – $655 per month.
Profit Split 100% of the first $10,000 in profits. Thereafter, 90/10 split in favor of the trader. 100% of the first $12,500 in profits. Thereafter, 90/10 split in favor of the trader.
Account Funding More time needed due to two-step evaluation process. Faster due to a more flexible evaluation process.
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Modest Money Overall Rating
4.5 rating based on 5 ratings
4.5 rating based on 5 ratings

Factor 1: Evaluation Process and Funding Criteria

Elite Trader Funding Offers More Flexible Evaluation Typres

  • TopStep utilizes a Trading Combine for their evaluation
  • Elite Trader Funding allows more trading freedom
  • Both platforms require consistency and discipline in trading

TopStep

TopStep’s evaluation process, known as the Trading Combine, is a unique two-step simulation that tests a trader’s ability to meet certain objectives while following specific rules. The Trading Combine is designed to mimic real trading conditions and ensure that traders can show consistent profitability and risk management before getting funded.

Traders must meet a set profit target while adhering to specific risk parameters, including a maximum daily loss limit and a trailing maximum drawdown. This structured approach tests a trader’s discipline, risk management skills, and ability to achieve consistent results.

Elite Trader Funding

Elite Trader Funding offers a more flexible evaluation process. While traders still need to prove their profitability, the platform imposes less stringent rules. Traders have more freedom in terms of trading hours, instruments, and positions.

The criteria for getting funded are focused on showing consistent profits while keeping drawdown levels low. This approach appeals to experienced traders who prefer more trading freedom and can effectively manage their risk.

Keep in mind that while the evaluation criteria may differ between platforms, the underlying goal is the same: to prove you can trade profitably and responsibly. The choice between a structured or flexible evaluation process will largely depend on your trading style and risk management ability.

Factor 2: Educational Resources and Support

TopStep Provides More Education Resources and Support for Traders

  • TopStep offers a wealth of educational materials and performance coaching
  • Elite Trader Funding focuses on providing reliable customer support
  • Both platforms aim to help traders succeed in their trading journey

TopStep

TopStep places a significant emphasis on trader education. Their platform provides a wealth of resources designed to help traders improve their skills, understand market trends, and develop effective trading strategies. These resources include interactive lessons, webinars, podcasts, and blog articles covering a range of trading topics.

In addition, TopStep offers a unique Performance Coaching program. With this feature, traders can work one-on-one with a professional trading coach to identify areas of improvement, set goals, and create a custom trading plan. The combination of educational resources and personal coaching support makes TopStep an excellent choice for those looking to learn and grow as traders.

Elite Trader Funding

While Elite Trader Funding might not offer the same breadth of educational resources as TopStep, they are known for providing reliable and responsive customer support. Whether you have a question about their funding program, need technical assistance, or require help with account management, Elite Trader Funding’s support team is readily available to assist.

Moreover, Elite Trader Funding’s flexible funding program implies a focus on experienced traders, who might not require extensive educational resources but would appreciate prompt and dependable support when needed.

When considering educational resources and support, think about your individual needs as a trader. If you’re newer to trading and seek to expand your knowledge, TopStep’s educational offerings might be more appealing. If you’re an experienced trader looking for prompt and reliable support, Elite Trader Funding could be a better fit.

Factor 3: Pricing and Profit Split

Both Platforms Provide 90% Profit Spit

  • Elite Trader Funding offers various evaluation plans tailored to different trading styles from $45 – $655
  • TopStep provides three main Trading Combine® options ranging from $49 – $149 per month each with a 90/10 profit split
  • TopStep often offers promotions reducing the monthly cost

Elite Trader Funding

Elite Trader Funding offers a wide variety of evaluation plans tailored to suit different trading styles and preferences. Whether you prefer intraday trading, want to hold positions overnight, or are confident in hitting your profit target quickly, there’s a plan for you.

The evaluation fees range from $45 to $655 per month, depending on the evaluation type and account size, and each evaluation plan comes with specific max positions, max drawdowns, and profit targets.

After qualifying, a monthly fee of $80 applies. This includes free real-time data and a free NinjaTrader license key on evaluation and Elite. Resets, if needed, cost $75.

TopStep

TopStep, on the other hand, offers three main Trading Combine® account sizes: $50K, $100K, and $150K. The monthly fees are $49, $99, and $149 respectively, and each option comes with a specific profit target, maximum position size, and trailing max drawdown.

One of the standout features of TopStep’s pricing model is the profit split. Once you become a funded trader, you take home 100% of your first $10,000 in profits and then enjoy a favorable 90/10 profit split thereafter. This means that you keep 90% of the profits, while TopStep retains 10%.

In conclusion, both Elite Trader Funding and TopStep offer competitive pricing structures and benefits. Your choice would depend on your trading style, risk tolerance, profit expectations, and the level of financial commitment you’re comfortable with.

TopStep vs Elite Trader Funding: The Bottom Line

TopStep and Elite Trader Funding are both robust platforms that provide aspiring traders with the opportunity to prove their skills and earn a funded trading account. However, your choice between the two will ultimately hinge on your specific trading strategies, requirements, and financial capabilities.

TopStep stands out with its straightforward trading combine options, simple pricing structure, and attractive profit split offering. It also boasts an excellent support system for traders and a community where they can learn and grow. This platform may be particularly appealing to those who value an uncomplicated trading experience and a clear, profitable pathway to becoming a funded trader.

If TopStep’s straightforward trading combine process, comprehensive support system, and favorable profit split agreement are enticing to you, you can learn more about it by clicking here.
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In contrast, Elite Trader Funding shines with its variety of trading evaluation options, allowing traders to choose a plan that aligns best with their trading style. With its comprehensive education resources, it might be a better fit for those who want a highly customizable experience, a diverse set of evaluation plans, and the desire to continuously learn and refine their trading strategies.

If Elite Trader Funding’s diverse evaluations, comprehensive education resources, and flexibility resonate with you, click here. Save 65% with coupon code ETF4EVER.

Learn More About Elite Trader Funding

In terms of pricing, Elite Trader Funding provides a wide range of options that cater to different trading styles and budget constraints. Conversely, TopStep offers three simple options with clear profit targets and the promise of a generous profit split once you become a funded trader.

Both platforms are equipped with valuable features and support systems to assist you in your journey to becoming a successful trader. It is advisable to explore each platform thoroughly to see which one aligns best with your trading style, needs, and budget. In the end, your personal preference, trading style, and specific needs will guide you to the right choice.