TopTier Trader offers a unique opportunity for traders to scale up to $2 million in simulated funding. With the fastest payouts in the industry and flexible trading rules, TopTier Trader is quickly becoming a preferred choice for aspiring traders worldwide. Their 2-Step Challenge is the gateway to becoming a funded trader, allowing traders to showcase their skills and manage virtual capital with ease.
Company Information
- Company Name: TopTier Trader
- Company Legal Name: TopTier Trader, LLC
- Company Registration No.: 11530879
- Country of Registration: United States
- Operating Since: 18 October 2021
- CEO Name: Dave Guttman
- Support Email: [email protected]
- Phone: 888-390-8550
Challenge Details
TopTier Trader provides a comprehensive 2-Step Challenge designed to evaluate traders and qualify them for simulated funding. The pricing and rules are straightforward, making it accessible to traders with varying levels of experience.
Pricing
- $5,000 Account: $65
- $10,000 Account: $129
- $25,000 Account: $229
- $50,000 Account: $335
- $100,000 Account: $499
- $200,000 Account: $975
- $300,000 Account: $1,345
Rules
- Profit Target (Phase 1): 10%
- Profit Target (Phase 2): Not specified
- Total Loss: 10% drawdown limit
- Daily Loss: 5% of the account balance, calculated at 5 PM EST
- Profit Share: Up to 90%
- Drawdown Type: Static drawdown
- Time Limit: Unlimited
- Leverage: 1:100 - Forex, 1:40 - Gold & Commodities, 1:30 - Indices, 1:2 - Crypto
- Max Lot Size: Forex - Up to 50 Lots, Crypto - Up to 6 Lots, Indices - Up to 190 Lots, Metals and commodities -Up to 19 Lots.
- Payout Frequency: Every 14 days
- Allows Copy Trading: Yes
- Min Trading Days: 4 Days
Note - Read the full list of Max Lot size here - https://help.toptiertrader.com/en/articles/9400656-over-exposure-a-risk-management-perspective
Scaling Plan
TopTier Trader Simulated Funded accounts offer a dynamic scaling plan that allows traders to increase both their account size and profit share based on consistent performance.
Eligibility Criteria :
To qualify for a 25% account scale-up, traders must be profitable for at least two out of three months and request a payout of 10% or more virtual profit. Profit share can increase by 5%, with a max earning of 95%.
Example:
- Initial Balance: $100K
- Initial Profit Share: 85%
- New Balance: $125K
- New Profit Share: 90%
Scaling can continue up to $2 million USD.
Spreads and News Trading Rules
Spreads
TopTier Trader provides competitive spreads, but the exact details aren't specified. However, traders can expect fair market conditions for executing their trades.
News Trading Rules
Yes, news trading is allowed, but traders must be cautious during high-impact events. Spreads can widen, and stop-losses or take-profits may not be respected due to market volatility.
Other Important Rules
Daily Drawdown Calculation
The daily simulated drawdown limit is calculated based on EOD Balance and it will recalculate everyday at 5 PM EST, Daily Drawdown provided by TopTier Trader follows the principle of Equity Based Drawdown which means the drawdown limit can grow or shrink based on the account balance.
Countries Banned from Purchasing
Due to compliance with international regulations, certain regions and countries are restricted from using TopTier Trader's services. As of now, the following countries are banned:
- Afghanistan
- Belarus
- Burma
- Cote d’Ivoire (Ivory Coast)
- Cuba
- Democratic Republic of the Congo
- Iran
- Iraq
- Lebanon
- Libya
- Mali
- North Korea
- Russia
- Somalia
- Sudan
- Syria
- Venezuela
- Yemen
- Vietnam
- Egypt
- Pakistan
- Germany
- India
- Turkey
- United Kingdom
- Romania
- Kenya
- Czech Republic
- Nigeria
- Ethiopia
Gambling Rules
TopTier Trader prohibits any forms of gambling or manipulative trading activities. Strategies such as grid trading, arbitrage, tick scalping, and martingale are strictly prohibited. Traders found engaging in these strategies risk having their accounts suspended.
Prohibited Trading Strategies
- Grid Trading - Using multiple accounts to hedge positions for guaranteed profits.
- Latency Arbitrage - Exploiting differences in order execution times.
- Reverse Arbitrage - Taking advantage of price discrepancies between related assets.
- Tick Scalping - Profiting from small price movements in rapid succession.
- Account Management Violations - Using unauthorized accounts or fraudulent activities.
- Signal Trading - Copying trades or positions from other traders.
- High-Frequency Trading (HFT) - Engaging in excessive, rapid trades.
- Martingale - Increasing trade sizes to recover losses.
- Hedging Between Accounts - Offsetting losses between different customer accounts.
- Guaranteed Limit Orders - Using orders that guarantee execution at a specific price.
- Data Feed Manipulation - Distorting financial market data for advantage.
- Trading on Delayed Charts - Trading with outdated price data instead of real-time charts.
- Macroeconomic Trading - Trading during high-impact reports with unrealistic prices due to market volatility.
Payout Methods
TopTier Trader offers flexible payout options to ensure that traders receive their earnings quickly and securely. The payouts are processed within 24 hours through various methods:
- Rise
- Bitcoin (BTC)
- Tether (USDT - ERC-20)
This fast payout system, which is the quickest in the industry, ensures that traders have access to their profits in record time.
Trading Commissions
TopTier Trader has not explicitly mentioned trading commissions. However, their emphasis on providing competitive trading conditions suggests that any fees would be fair and transparent.
