Topstep is a futures proprietary trading firm headquartered in Chicago, Illinois, USA. Established in 2010, Topstep specializes in providing funded trading accounts for traders, boasting over a decade of experience in the industry.

Key Features

• Types of Trading: Topstep offers a variety of trading instruments, including stock futures, forex futures, agricultural futures, energy futures, interest rate futures, and metal futures (such as gold, silver, and copper).
• Maximum Account Balance: $150,000
• Profit Split: 90%
• Fees: Minimum of $165 per month
• Platform Support: Topstep supports a wide range of trading platforms, including TSTrader, NinjaTrader, Quantower, TradingView, Sierra Chart, T4, Jigsaw Daytradr, Multicharts, R|Trader Pro, VolFix, Trade Navigator, ATAS OrderFlow Trading, MotiveWave, Bookmap, Investor/RT, among others.

Advantages and Disadvantages

Advantages

• Funded accounts can be obtained in as little as two days.
• Over a decade of operational experience in the industry.
• Simple rules with only profit targets and loss limits.
• Proprietary TopStepX trading platform, featuring TradingView charts and built-in copy trading.
• Professional performance coach support.

Disadvantages

• Minimum withdrawal amount is $125.
• Only supports day trading; no overnight positions allowed.

Account Types and Leverage

Account Types and Fees:

• $50,000 account: $165/month
• $100,000 account: $325/month
• $150,000 account: $375/month

Leverage:

• Topstep accounts do not use leverage; the account balance equals the buying power, with a leverage ratio of 1:1. The maximum number of contracts that can be traded is:
  • $50,000 account: 5 contracts
  • $100,000 account: 10 contracts
  • $150,000 account: 15 contracts

Profit Split and Payments:

• Initial Stage: 100% of the profits go to the trader.
• After Earning $10,000: Topstep retains 10% of the profits.

Topstep Combine – Rules and Objectives

Topstep Combine is the necessary challenge to qualify for a funded account, consisting of a single-stage test. The challenge requirements are as follows:

Minimum Profit Target:

• $50,000 account: $3,000
• $100,000 account: $6,000
• $150,000 account: $9,000

Other Rules:

• Daily Loss Limit: $1,000 for a $50,000 account, $2,000 for a $100,000 account, $3,000 for a $150,000 account.
• Maximum Drawdown Limit: $2,000 for a $50,000 account, $3,000 for a $100,000 account, $4,500 for a $150,000 account.
• Account Consistency: The best trading day’s profit should not exceed 50% of the total profit.
• Minimum Trading Days: At least 2 days.

Topstep Scaling Plan

Topstep's Scaling Plan limits the maximum number of contracts based on account size. The allowed number of contracts in different balance ranges is as follows:

$50,000 Account:

• Balance less than $51,500: 2 contracts
• Balance between $51,500.1 and $52,000: 3 contracts
• Balance above $52,000.01: 5 contracts

$100,000 Account:

• Balance less than $101,500: 3 contracts
• Balance between $101,500.1 and $102,000: 4 contracts
• Balance between $102,000.01 and $103,000: 5 contracts
• Balance above $103,000.01: 10 contracts

$150,000 Account:

• Balance less than $151,500: 3 contracts
• Balance between $151,500.1 and $152,000: 4 contracts
• Balance between $152,000.01 and $153,000: 5 contracts
• Balance between $153,000.01 and $154,500: 10 contracts
• Balance above $154,500.01: 15 contracts

Topstep Funded Account Rules

After passing the Topstep Combine, traders receive a funded account with real capital. The funded account follows the same basic rules as the Combine:

• Trade only within allowed trading hours.
• Adhere to daily loss limits and maximum drawdown limits.
• Do not exceed the number of contracts specified in the Scaling Plan.

Topstep Platform Support

Topstep supports various trading platforms, including:

Recommended Platforms:

• TSTrader: Free during both the Combine and funded account stages.
• NinjaTrader: Free during the Combine stage; paid during the funded account stage.
• Quantower: Free during both the Combine and funded account stages.

Other Platforms:

• TradingView: Free during both the Combine and funded account stages.
• Sierra Chart: Requires payment.
• T4: Free during both the Combine and funded account stages.

TopstepX Platform

TopstepX is Topstep’s proprietary trading platform, offering the following features:

• TradingView charts
• Tilt Indicator (providing market insights)
• Built-in copy trading tool
• TopstepTV live stream
• Commission-free trading
• Manual account locking
• Personalized daily loss and profit limits
• Simple order combinations
• Real-time chat support
• Feature voting

Trading Time Restrictions

Topstep traders must close all positions within the specified trading hours. According to Topstep’s rules, traders must settle all open contracts by a specific time each trading day.

Specifically, traders should avoid opening new positions between 3:10 PM and 5:00 PM CT. This rule is designed to protect traders from potential adverse effects of market volatility after the close.

Other Considerations

• Automated Trading: EA, algorithms, or trading bots are allowed.
• Free Trial: Currently, Topstep does not offer a free trial, but a reset option is available to address rule violations.
• News Trading: Topstep allows traders to engage in news trading, where trades are made based on market movements triggered by significant economic data releases or company announcements.

Conclusion

Topstep is a funding company specializing in futures trading, offering various account options and platform support. Its straightforward rules and profit splits of up to 90% make it an attractive option in the futures prop trading space. If you are interested in futures trading, Topstep could be a worthwhile consideration.