Overview of TopStep Futures Prop Firm
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TheTrustedProp
Date: April 29, 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.