What Traders Are Saying About TopStep Prop Trading (2024)

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 Chingo
1 review
US
5 hours ago

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:

Naveed
1 review
US

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 Masanovic
2 reviews
ME
Updated 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.

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FAQs

Is TopStep trustworthy? ›

TopStep has an impressive average TrustPilot score of 4.6, based on feedback from over 2,700 reviewers, which speaks volumes about its credibility and the trust it has gained among users. Beyond just being legitimate, TopStepTrader has been a trailblazer in the futures-funded trader industry since its inception.

Learn More ›

Does TopStep really pay out? ›

Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. A winning trading day is counted when a day's Net PNL is $200 or more. Read more here. How can I Request a Payout?

Learn More Now ›

Which is the most trusted prop firm? ›

The most popular prop trading firms and funded programmes

Axi Select.
FTMO.
The Forex Funder.
E8 Markets.
True Forex Funds.
The 5%ers.
Funded Next.

Explore More ›

What is the 50 rule in TopStep? ›

To pass the Trading Combine, your best day (most significant winning day) must be no greater than 50% of your profit target. If your best day equals or exceeds 50% of your profit target, you'll need to continue trading until your best day % of total profit is below 50%.

Get More Info Here ›

Which is the most legit trading platform? ›

Best Online Brokerage Accounts and Trading Platforms of 2024

Best Overall: Fidelity.
Best for Low Costs: Fidelity.
Best for Beginners: Charles Schwab.
Best for Advanced Traders: Interactive Brokers.
Best for ETFs: Fidelity.
Best for Options Trading: tastytrade.
Best for International Trading: Interactive Brokers.

More items...

Discover More ›

Which is the most safe trading platform? ›

Zerodha Kite, Angel One, and Finq.com are some of the safest trading applications in India. And if you are looking for more, you can check the list above.

Do prop firms really pay out? ›

There is nothing inherently scammy about the business model of prop firms. But how do they make money then? For starters, prop firms, of course, do not give money to just anyone who asks. Typically, they have a multi-stage evaluation process to make sure the traders they employ know what they are doing.