TopstepTrader is a dream factory but a good training site
TopstepTrader is a good place to learn how to trade and commit mistakes in a very realistic environment. The ability to qualify for a funded live account also makes the simulator gets a touch of real money.
However, I feel that there is reason to be a bit skeptical about the funding system; how it works and how many actually manage to be funded and get money out of it.
I also feel that the account sizes in the evaluation tests are confusing. Someone could think that if they pass the test, known as a trading combine, they would be able to trade an account with the same amount.
To pass the test (to get funded) is not easy, but even if you pass there is still a long way to go:
The first step for a new funded trader at Topstep Trader, after an interview on their internal radio, is to go through another test, known as a live combine, to built up an account cushion.
Forget about a solid, funded live account. TopstepTrader, or the company Patak Trading Partners, backs you financially with almost nothing. What they do is to provide you with a $0 account with a small loss limit, from $1,500 to $4,500 depending on your successfully completed test-account.
On the other hand, take the risk with a small fee, get training and get the ability to trade a live account with a loss limit ten times bigger than your fee. An example: It costs about $200 to try a test that gives you an account with a loss limit of $2,000, – if you pass. You then need to make a profit of $5,000 without losing more than $1,000 in a week and $2,000 in total.
What about your profit? I am sure that you get your profit share (60%) if you make profit, but so far I have not yet found anyone who can tell how the paycheck looks. All "funded traders," I have heard of, either are working on their account cushion or kicked back to the combine to start over again.
Is this a warning against TopstepTrader? No, not really. I have learned a lot. I can recommend Topstep Trader if you want to practice. It is a very good training site for beginners in futures trading, and it can also be a start to a career as a futures trader if you are extremely talented – but for 99.9% it will only be a dream (and expenses), and TopstepTrader's conditions are the hardest in the industry.
The most beautiful thing about Topstep Trader is that you can lose the company money and come back if you pass a new test. You are even invited to try again. Of course, it also says a bit about how difficult the trading combine is.
This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.