The finance world is buzzing with the impact of prop trading firms, which level the playing field by offering ambitious traders the chance to jump into market action without needing personal funds. These firms lay down the capital, allowing traders to take significant positions and enjoy a slice of the profit pie, a dream come true for many who previously saw market trading as out of reach.
In the spotlight is TopStep, a firm that’s carving a niche for itself, especially among those keen on day trading futures but strapped for cash. TopStep offers a unique model: it hands traders a simulated account to start, setting the stage for those who can prove their mettle under specific trading conditions. The prize for those who make the cut? A fully funded trading account.
But what’s the real scoop? For a deeper dive, continue reading as I look at what traders are saying about TopStep prop trading and whether it lives up to the hype.
Learn More About TopStep
What is TopStep Prop Trading?
Before I get into what traders are saying about TopStep prop trading, I think it is important you understand their roots and their mission. Founded in 2012 by Michael Patak, TopStep started on the Chicago Board of Trade’s floor and transitioned into a leading online prop trading platform, known for its Trading Combine® that simulates real-world trading environments.
With headquarters in Chicago’s vibrant West Loop Gate, TopStep has grown globally, supporting traders from over 143 countries and providing versatile trading platforms like NinjaTrader and TradingView.
Their mission is clear: to enhance traders’ skills through practical experience, offering education, practice accounts, and funding. This approach aims to build not just traders, but better traders equipped for success in the futures market.
What Traders Are Saying About TopStep Prop Trading
Understanding what traders are saying about TopStep prop trading is essential in determining if it is the right trading partner for you. At the time of writing this, TopStep has an “Excellent” rating of 4.6 out of 5 from over 2,600 reviewers. In the next sections I’ll get into some of the positive and negative reviews.
What Positive Things Are Traders Saying About TopStep Prop Trading?
Here are some of the most telling positive reviews about TopStep I was able to find:
Travis Chingo1 reviewUS5 hours ago
Best Futures Prop Firm in Existence!!
Topstep is by far the best funding company for Futures trading in the industry. They truly care about their customers, providing amazing education and excellent support. If something goes wrong, they always make it right, even if it’s not them at fault.
Their goal is to help traders get funded, and maintain that funding for life. Their Win-Win approach to futures trading creates an easy barrier to entry, and fast but fair path to generating income from the markets.
Date of experience: March 01, 2024
Jose Lopez1 reviewUSA day ago
I am relatively new to trading and…
I am relatively new to trading and Topstep has been very very helpful in easing the blow with this world. I have heard of horror stories from other propfirm and their technical support but Topstep has been incredibly awesome. This morning at around 6:00 am I had a billing issue answered within minutes. Jenna was so so helpful and solved my issue within seconds. Real people, real transparency, real support. I cannot recommend Topstep enough.
Date of experience: February 29, 2024
Day Traders Alliance1 reviewUS3 days ago
After dealing with the shady side of…
After dealing with the shady side of Forex “Prop Firms” with their unregulated brokers, price manipulation and desire for traders to fail.. TOPSTEP is the BEES KNEES if you are serious about trading, learning, making money and need unprecedented support. The release of TopstepX is a game changer in the industry too. I could not be happier to have discovered and joined the Topstep family!! Highly recommend teaming with this company 🙂
Date of experience: February 27, 2024
What Negative Things Are Traders Saying About TopStep?
As evident by the 4.6 out of 5 rating TopStep has, most traders have positive things to say about them. But with over 2,600 reviews online, of course there are some traders that wanted to share their negative experiences. Here are the negative reviews I think we can derive value from:
Naveed1 reviewUS
Feb 3, 2024
Verified
The rules for the challenge are fair…
The rules for the challenge are fair and good, but the live account rules are a little annoying. Although I understand that the company needs to make a profit, the idea of needing 5 days of $ 200+ profit to just be able to pull out 50% of profits seems unnecessary. I feel like passing the account and maintaining profitability with 5 days of $200+ profits should entitle you to 90% percent of the profits, rather than the 30 days of $200+ profit.
Date of experience: January 29, 2024
This trader was not happy about the rules surrounding payouts. From what I understand, TopStep’s payment rules are in line with the industry norms. Make sure you are clear on the pay out rules before deciding to sign up for TopStep, or any platform for that matter.
Vasilije Masanovic2 reviewsMEUpdated Dec 5, 2023
Topstep seems like solid firm but I…
Topstep seems like solid firm but I have lost around 1 month trading with Topstep just to get the message that my country is not eligible for payouts and trading with them. They turn to terms & conditions and in there doesn’t say specifically which countries are restricted which means they can modify as they like. I signed the contract and everything after passing the combine challenge and no one said anything. If they have restrictions towards some countries they should not list them in the sign-up in the first place. And I guess when they saw profits, they contacted me, otherwise I would’ve never known. They said I will be refunded(if applicable), so let’s see that…
Update: Giving 3 because of the refund. But still wasted so much time and was 1.5k in profits, unable to take it out.
Date of experience: November 28, 2023
Traders for certain countries are not allowed to trade with TopStep, or any other reputable prop trading firm. Refer to the OFAC list of restricted countries if you are concerned about whether traders from your country are eligible to trade.
Final Thoughts
In conclusion, the buzz around prop trading firms has intensified, with TopStep leading the charge, especially for those interested in futures trading. By offering simulated accounts and the chance to earn a fully funded one, TopStep provides a unique platform for traders looking to enhance their skills without financial risk.
Positive testimonials highlight TopStep’s commitment to helping traders succeed, noting their fair but challenging path to funding and the invaluable support provided along the way. Yet, it’s crucial to acknowledge some criticisms, particularly regarding payout rules and country restrictions, which prospective traders should consider.
Understanding both the strengths and weaknesses pointed out by existing users is vital. If you’re weighing whether TopStep could be your gateway to futures trading success, hearing firsthand experiences can guide your decision. For a more in-depth look at what traders are saying about TopStep prop trading and to decide if it’s the right fit for you, Click Here to continue exploring.
Get Started With TopStep
