TSTrader Platform Review 2023
|By: Jeremy Biberdorf||May 03, 2022|
In a Nutshell: TSTrader is a trading platform owned by TopStep, which offers funded trading accounts. If you join TSTrader, you will first operate in a simulated environment. If your profitability and risk management prove solid, TopStep will fund up to $150,000 of your trades in exchange for a monthly fee. Read our TSTrader review to see if it’s a good fit for you.
|$50,000 Buying Power||$165|
|$100,000 Buying Power||$325||Click Here For 20% Off!|
|$150,000 Buying Power||$375|
- Funded Trading Available to Anyone
- Free 14-Day Trial, No Credit Card Needed
- Keep First $5,000 of Profits, Then 80%
- Trades Limited to Futures
Funded trading accounts might be the next evolution in investment opportunities.
What is TSTrader?
TSTrader is a trading platform owned by TopStep Trader, a funded trading platform. TopStep Trader evaluates the performance of day traders that apply to their program in real-time simulated accounts.
If you apply for the program and pass their evaluation, TopStep Trader will fund up to $150,000 of your futures trades. TopStep Trader evaluates you during the evaluated simulation based on your profitability and risk management skills. You can read more about TopStep Trader in our review here.
What is funded trading? Funded trading means someone sponsors your trade—in this case, TopStep Trader. TSTrader is the leading platform TopStep Trader uses to simulate and finally fund your trades. With TSTrader, you can only trade CME group futures.
How Evaluation Works
If you want to trade options, stocks, ETFs, or anything besides CME futures, then TSTrader is not for you.
When you sign up on the TSTrader platform, TopStep will begin evaluating you from the day you make your first trade. You need a minimum of five days of evaluation before they approve you for a funded account.
What counts as five days of evaluation? Any day you execute a trade through TSTrader will count as a trading day. When you have reached five days of trading, whether they are consecutive or non-consecutive, TopStep may move you to a funded account if you prove your trading ability.
Along with the profitability of your trades and your risk management skills, TSTrader evaluates the consistency of your trades. They assess this by calculating whether your best trading day is less than 40% of your total profits. If your best day exceeds 40% of your total profits, you must continue trading until you bring your “Best Day” profits to under 40% of your total.
Why does TSTrader care about consistency even if you are making money? Because inconsistency can be a red flag that your trade methodology is flawed. Since they are evaluating you for a funded account, they have the option to wait until you demonstrate your consistency to approve you.
Once approved, if your trading falters, TSTrader will roll you back to a simulated account until you can once again prove your profitability, risk management, and consistency. Be aware of the phenomenon that people tend to book more profits in a simulated environment.
TSTrader Cost Structure
There are three funding tiers with the TSTrader platform. Here is how much each tier costs:
|$50,000 Buying Power||$165||Click Here For 20% Off!|
|$100,000 Buying Power||$325|
|$150,000 Buying Power||$375|
Most people opt for the $50,000 tier until they have been approved for a funded trading account.
Once you are approved for funded trading, you can keep 100% of your first $5,000 in profit. After that, you keep 80% of your earnings. If you are a good trader but lack startup funds, this can be a fantastic deal.
TSTrader Review: The Bottom Line
As far as funded accounts for day traders go, Modest Money finds TSTrader an excellent platform, suited to day traders looking for funded accounts.
The minimum monthly cost for TSTrader is $165, which is pricey if you don’t know what you’re doing. If you do, this is an excellent price to get the capital you need to fund your trades.
If you think you might be interested in a TSTrader account but are unsure of your abilities, you don’t have to start paying the monthly fee right away if you sign up for a free 14-day subscription. Credit cards are not required to enroll in the trial.
TSTrader is appropriate for the following types of investors:
- Knowledgeable traders who understand futures trading
- Traders who can afford at least $165 monthly while they go through the funded account approval process
- Day Traders who are interested in making short-term trades, which can be highly volatile
- Investors who can focus on trading during regular business hours.
If any of these categories apply to you, you should consider using for TSTrader’s funded account trading program. Using our link gets you 20% off.