Topstep: Funded Traders = 1 Step

[Laissez Faire]

We have some traders who do exceptionally well but most of the time they will take the payout and seed their own account which we are fine with. We post all payouts in our Discord for full transparency.

Would you at any point consider actually funding these traders?

The way I understand it, your firm and other similar firms will never really stake a trader beyond the drawdown that's offered in the account, i.e., you call it a $150K account, but since there's a $4.5K drawdown, what you're really offering is a $4.5K account.

But let's say a star trader manages to rack up $10K of profits. If he withdraws those funds, he's back to square one as the only "funding" is the initial $4.5K he was offered as a drawdown and additional profits he accumulated on his own. Meaning that he might as well put his profits at risk in his own account earning 100% of the gains on those.

If on the other hand you guys would actually recognize talent and stake it with actual funding, it would be a very interesting proposition. But my understanding is that is not on the table.

 

[Topstep]

We do have traders who rack up big profits and open their own accounts with those funds. I think we have floated the idea of backing traders directly if they have the receipts like a more traditional prop firm but it is a heavy lift. Typically what would happen is that a trader would bring $50,000 to the table and the firm would match that and then some. But the trader would still be responsible for the first $50,000 in losses. It is a more old school methodology of funding.

Some traders will take a payout of a portion of their funds and then keep 2 accounts. One at Topstep and one personal.

 

[mason macgregorson]

We do have traders who rack up big profits and open their own accounts with those funds. I think we have floated the idea of backing traders directly if they have the receipts like a more traditional prop firm but it is a heavy lift. Typically what would happen is that a trader would bring $50,000 to the table and the firm would match that and then some. But the trader would still be responsible for the first $50,000 in losses. It is a more old school methodology of funding.

Some traders will take a payout of a portion of their funds and then keep 2 accounts. One at Topstep and one personal.

you now have a lot of competition:

 

[Topstep]

Sure do, helps push us to get better. We are not afraid of a little competition.

 

[GotherL]

Does Topstep allow trading the ES during regular market hours? As I am not too familiar with how the market moves outside that parameter.

Also, do you need any proof of identification to signup? (Loss my passport a while ago.)

 

[Overnight]

Does Topstep allow trading the ES during regular market hours? As I am not too familiar with how the market moves outside that parameter...

That is a strange question.

 

[GotherL]

That is a strange question.

I was under the impression the futures market was closed when the U.S. stock market opens at 9:30am-4pm.

Apparently, that wasn't the case after some googling.

I just realize I posted on the wrong thread. (Thought this was the Q&A section.)

 

[Overnight]

I was under the impression the futures market was closed when the U.S. stock market opens at 9:30am-4pm...

You're listening to the wrong music.

 

[legionx]

Sure do, helps push us to get better. We are not afraid of a little competition.

I'm pretty sure your sales revenue goes down if there is even a "little" competition? Especially from when you all came on the seen from, I believe, 2011. If any, your niche is not that far compared to the competition. Have a bit more respect for your competitors I would say.

 

[Topstep]

I'm pretty sure your sales revenue goes down if there is even a "little" competition? Especially from when you all came on the seen from, I believe, 2011. If any, your niche is not that far compared to the competition. Have a bit more respect for your competitors I would say.

I think we have plenty respect for the competition which is why we have made so many changes in our program to better serve our traders. We have made these changes in the last couple of months:

- Funded Traders go back to Step 2 regardless of ending balance or rule violation
- 90/10 profit split from 80/20
- First Payout Bonus: Last subscription payment refunded upon earning your first payout
- Faster Payouts: We have gone from 7-10 business days all the way down to 3-5 business days depending on payment methodology. Some payouts even next day.
- Removed Economic Events rule and Weekly Loss Limit from the Trading Combine/Funded Account
- Receive a Funded Trader Certificate when you pass.

We still have 2 more big changes by end-of-year.