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Overview of TopStep Futures Prop Firm

TheTrustedProp
Date: May 10, 2024

In the world of futures trading, TopStep has carved a niche for itself as a platform that empowers traders to develop their skills, build healthier habits, and offers unmatched community support. Established in July 2012 and registered in Chicago, Illinois, TopStep has been on a mission to provide traders with the tools and resources they need to succeed in the highly competitive world of futures trading.

Company Details

  • Name: TopStep
  • Legal Name: Topstep Technologies LLC.
  • CEO: Michael Patak
  • Founded: July 2012
  • Registered: Chicago, IL

Challenge Details

TopStep offers a unique Trading Combine® program that allows traders to choose from three different account sizes, catering to their individual goals. Here's a breakdown of the offerings:

$50,000 Buying Power Details:

  • Monthly Price: $49/month USD
  • Profit Target: $3,000
  • Maximum Position Size: 5 Contracts
  • Maximum Loss Limit: $2,000

$100,000 Buying Power Details:

  • Monthly Price: $99/month USD
  • Profit Target: $6,000
  • Maximum Position Size: 10 Contracts
  • Maximum Loss Limit: $3,000

$150,000 Buying Power Details:

  • Monthly Price: $149/month USD
  • Profit Target: $9,000
  • Maximum Position Size: 15 Contracts
  • Maximum Loss Limit: $4,500

Traders can choose from these account sizes, depending on their trading goals and risk tolerance.

Other Details

TopStep has an impressive track record, with over $16,000,000 in trader payouts since 2020 and more than 9,000 funded accounts in October. What sets them apart is their unique approach, which allows traders to earn a funded account in as little as 2 days.

The Trading Combine®

At the heart of TopStep's offering is the Trading Combine® program. This initiative is designed to help traders build better skills, discipline, and habits as they are evaluated for funding. Traders who successfully pass the Trading Combine can unlock a Funded Account®, where they can pay themselves up to 4 times a month.

Benefits for All Traders

TopStep offers a range of benefits to traders at all levels:

  • Prep–Trade–Reflect™: This method guides traders toward a consistent trading routine.
  • Facebook Community: Connect with fellow traders and find accountability partners.
  • Free Coaching: Choose between 1:1 coaching, group coaching, or both.
  • Coach T™: Personalized stats and tips to improve performance.
  • Discord Chatroom: Interact with other traders, Ambassadors, and Coaches.
  • TraderIQ™: Gain insights into your performance and improve daily.
  • Kick-Ass Trader Support: Live chat with experts in Chicago.
  • Education Courses: Deep dives into trading strategy and more.
  • TopstepTV™: Learn from expert traders every Monday–Friday.
  • Flatten Positions: All trades are flattened at the end of each day.

Our Approach

TopStep's patented coaching routine, Prep–Trade–Reflect™, makes it easier for traders to develop daily trading habits that lead to consistent performance. This methodology is integrated into all their coaching sessions.

Group Coaching

Free Group Coaching sessions are available live on TopstepTV every Monday–Thursday from 12-1 PM CT. This is an opportunity to learn from a team of experts and get your questions answered in real-time.

TopstepTV™

Spend your day with TopStep's experts as they trade live and discuss market happenings. You can expect breaking news, tips, community stats, shout-outs to top-performing traders, and special guests. TopstepTV™ is live Monday–Friday from 8:00 AM–1:00 PM CT.

Digital Coaching with Coach T™

TopStep's trading dashboard features Coach T™, a digital performance coach that provides tools and personalized trading stats to help traders become smarter, more disciplined traders. Coach T™ offers guidance every time you step in front of the trading screens.

Checklist for Success

  • Build stronger, sustainable habits for confident market approaches.
  • Hold yourself accountable against your personalized daily plan.
  • Receive alerts before major events that could impact your trading.
  • Review your TraderIQ score and personalized stats daily.
  • Keep a journal of what worked well and what to improve.
  • Expect weekly emails with guidance and tips based on your trade data.

Earning Funding through the Trading Combine®

The Trading Combine is an experiential learning and evaluation program for futures traders. It allows traders to grow and test their skills in simulated markets and earn funding upon achieving specific trading objectives. While earning a Funded Account® is one possible goal, the discipline and habits promoted by the Trading Combine benefit traders of all experience levels.

Follow the Trading Plan

TopStep operates with one clear rule: the Maximum Loss Limit (MLL). Exceeding this limit results in a rule violation. Unlike other prop firms, TopStep's MLL is based on your end-of-day balance, giving traders more room to trade.

Objectives:

  • Profit Target
  • Consistency Target
  • Daily Loss Limit

Trade with the Best Products

TopStep allows traders to trade top futures contracts, including:

  • E-mini S&P 500 and NASDAQ 100
  • Crude Oil
  • Gold
  • Interest Rates
  • Micro Gold, Micro Crude Oil, and Micro Bitcoin

Available Trading Platforms

Traders can choose from the following trading platforms:

  • NinjaTrader
    • Compatibility: Windows
    • Third-party add-ons: Yes
    • Platform fees: $0 in SIM, discounted in Funded
    • Commissions in the Funded Account: $0.53/contract
  • Quantower
    • Compatibility: Windows
    • Third-party add-ons: Yes
    • Platform Fees: Free for Topstep Traders
    • Commissions: $0.53/contract

Exclusive TopStep Funded Trader Benefits

TopStep offers unique benefits to funded traders, including:

  • Multiple Accounts: Earn and take payouts from up to 3 Express Funded Accounts.
  • Simple Payout Policy: Just have 5 winning days of +$200 to earn your payout.
  • Fast Payout Processing: Expect your earnings quickly as payouts are processed daily.
  • Funded Trader Certificate: Celebrate your achievement by sharing your FTC on your LinkedIn profile.

FAQs

TopStep is a Futures trading firm and does not allow Forex Raw's (like EUR/USD or XAU/USD). However, they do offer Forex Futures, which are just as liquid and leveraged as Forex. To trade Gold, look for symbol /GC. To trade EUR/USD, look for symbol /E6. All of the most liquid pairs trade as futures contracts.

You can lock in your Trading Combine membership for as low as $49 per month, which remains the price until you earn funding or for the lifetime of that evaluation. Once you earn funding, you'll pay a one-time $149 Activation Fee, and then no more fees, just earn payouts. The Activation Fee is the same price no matter which account size you trade in.

Once you've started trading, it is not possible to switch accounts, and you'd need to start a new Trading Combine. If you have not started trading, please hold tight, and Trader Support will review your request.

In Tradovate, you can choose the manner in which your order will be sent to the market and conditions that will activate the price in the marketplace. Think market order, limit order, brackets, etc. Orders can be specified using prices or strategy based on what you are trying to accomplish.

Check out our list of Supported Platforms to determine which are available to you with your current credentials. If the platform you're currently on has the same Data Feed as the one you want to switch to (Rithmic, Tradovate, or CTS), you can trade interchangeably across them without losing any historical trading activity. Tradovate & TradingView users can trade interchangeably between these two platforms, but not on any of our other supported platforms. In this case, you'd need to start a new Trading Combine. Here is more information on if you can switch and how.

TopStep traders are allowed to trade Futures products only, listed on the following exchanges: CME, COMEX, NYMEX & CBOT. Trading of Stocks, Options, Forex, Cryptocurrency, and CFDs are not permitted nor available in our program or platforms.

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