TopStep Review: Elevate Your Futures Trading Journey

Overview of TopStep

TopStep is a leading name in the proprietary trading firm industry, renowned for its dedication to helping traders refine their skills while offering a pathway to funded trading accounts. Established over 12 years ago, TopStep has been a pioneer in the futures trading space, continuously evolving its offerings to meet the needs of traders globally. With over $156 million in payouts since 2020 and 89,630 accounts funded as of November 2024, TopStep stands out as a trusted partner for aspiring and experienced traders alike. Its core program, the Trading Combine®, is designed to instill discipline and risk management habits, enabling traders to showcase their potential and earn funding in as little as two days.

Account Features

TopStep offers three Trading Combine account sizes, catering to traders with varying goals and risk appetites. Here’s a breakdown of the options:

• $50,000 Buying Power: $165/month, $3,000 profit target, 5 contracts maximum position size, $2,000 maximum loss limit.
• $100,000 Buying Power: $325/month, $6,000 profit target, 10 contracts maximum position size, $3,000 maximum loss limit.
• $150,000 Buying Power: $375/month, $9,000 profit target, 15 contracts maximum position size, $4,500 maximum loss limit.

All accounts require a one-time $149 activation fee upon passing the Trading Combine, applicable across all account sizes.

TopStep also boasts a variety of premium features, including its proprietary TopStepX™ platform. This platform is purpose-built for prop firm traders, offering tools like TradingView charts, the Tilt Indicator, and commission-free trading. Other benefits include free group coaching, access to TopStepTV™, and a thriving community for peer accountability.

Rules and Regulations

TopStep’s structure emphasizes disciplined trading through clear and enforceable rules designed to protect both the trader and the firm. Below are the key rules and details:

• Maximum Loss Limit: Traders must not let their account balance fall below the specified limit. This limit is calculated at the end of each trading day based on the account’s high balance. Once the Maximum Loss Limit reaches the initial starting balance, it remains fixed for the remainder of the evaluation period.
• Profit Target: Each account size has a predefined profit target that traders must achieve to pass the Trading Combine. This ensures traders demonstrate the ability to generate consistent gains.
• Consistency Target: To encourage stable performance, traders’ best trading day must not exceed 50% of their total profits during the evaluation.
• Daily Loss Limit: Applicable to most platforms except TopStepX™, this limit prevents traders from incurring excessive losses in a single day, promoting risk management.
• Trading Hours: All positions must be closed daily by 3:10 PM CT. Overnight or weekend positions are prohibited to avoid unnecessary risks.
• Permitted Instruments: Traders are restricted to specific futures products listed on exchanges like CME, COMEX, NYMEX, and CBOT. This excludes stocks, options, forex, cryptocurrency, and CFDs.
• Prohibited Conduct: Activities such as exploiting the simulated environment or engaging in gambling behavior are closely monitored and may result in account suspension or termination.

These rules ensure a level playing field while fostering habits that prepare traders for live market conditions.

Evaluation Process

TopStep’s evaluation, known as the Trading Combine, is a one-step process allowing traders to earn funding by meeting specific objectives. This simulation of live trading ensures that traders demonstrate their risk management skills effectively. With a minimum duration of two trading days and no maximum timeline, traders can progress at their own pace.

Upon passing the Trading Combine, traders receive an Express Funded Account. This stage includes key parameters:

• Five winning days with at least $200 profit each.
• Adherence to scaling plans and risk management rules.

Success at this stage may lead to a Live Funded Account, where traders manage real capital.

Payout Methods

TopStep offers a straightforward and trader-friendly payout system designed to reward consistent performance:

• Express Funded Account: Traders can request payouts after achieving five winning trading days with net profits of at least $200 per day. Payouts are capped at either $5,000 or 50% of the account balance, whichever is lower, per request. This ensures a balance between rewarding traders and maintaining sufficient account equity for continued trading.
• Live Funded Account: Payouts are similarly structured, allowing withdrawals of up to 50% of the account balance after meeting the five-day winning streak requirement. Once traders achieve 30 winning days with $200 or more in profits, they become eligible to withdraw up to 100% of the account balance in future payouts.

Payouts are processed promptly, with daily processing ensuring traders receive their earnings without unnecessary delays. TopStep prioritizes efficiency in disbursing funds, but payout methods are limited to direct bank transfers, ensuring security and reliability.

Pros and Cons

Advantages of TopStep:

• Transparent and trader-friendly rules.
• Multiple account options to suit diverse trading styles.
• Fast payout processing with daily requests.
• Comprehensive educational resources and coaching.
• Access to a proprietary trading platform with advanced features.

Limitations of TopStep:

• Strict adherence to rules can be challenging for some traders.
• Fees may be prohibitive for beginners with limited capital.
• Restricted to futures trading, excluding other asset classes.

Conclusion

TopStep is an ideal platform for traders committed to improving their skills and disciplined trading practices. Its well-structured evaluation process and robust support system make it an excellent choice for aspiring futures traders looking to trade with funded accounts. If you’re seeking a prop trading firm that prioritizes education, discipline, and community, consider TopStep as your next step in the trading world.