Are you looking to enter the world of futures trading but don’t have the capital to trade?
If so, a TopStep funded account might be right for you. But don’t worry, you don’t have to be a professional trader to be accepted into the funded merchant account program.
Let’s take a closer look at what a TopStep funded trading account is all about below.
What is a funded TopStep account?
TopStep funded accounts allow you to earn funding for trading popular CME Group products on its platform. In order to have a funded account, you must first complete the two-step evaluation process of the TopStep Trading Combine.
They do this to verify that you are a serious and successful trader before giving you capital through the Trading Combine. Trading Combine is more of a test of your trading skills than of your ability to follow rules and manage risk.
Topstep increases your buying power by maximizing the utilization of your profits, not by increasing your financing, so if you are a successful trader, your purchasing power will continue to increase.
Take advantage of this 20% promotion and start trading $50,000 worth of purchasing power for just $132 a month.
The TopStep Trading Combine program is designed for qualified traders to have a chance to be promoted to funded trader status. Once qualified, traders can actively trade daily with the company’s funds across 14 trading platforms.
You can read more about TopStep Trader including the difference between a joint account and a funded account in our detail TopStep Trader . Review over here.
How long does it take to get funded with TopStep?
After completing all the required steps, you can get funding in less than 8 days, however, it can take up to 2 weeks. When your account is ready, TopStep will email you your login details.
In order to set up your account, you will need to complete the following:
- Complete your funded account agreement
Here’s a quick tip: be sure to keep an eye out for the confirmation email TopStep sends. You will need to verify your email address to complete the order and avoid delays.
- Submit your payment to get live market data
Make sure to submit your payment as soon as possible. This will ensure that TopStep enables your account as quickly as possible.
Once you’re done, review the rules quickly. There are a few basic things to note regarding a TopStep funded account regarding commissions and fees.
Your funded account will be considered abandoned if you do not complete the above steps.
TopStep Trader . Features
Traders can become professional futures traders with TopStepTrader, which provides all the tools they need to improve their day trading skills.
Trading platform without fees
There are no fees for the Combine Trader account however, a A fee will be charged to the funded account and commissions associated with trading on futures exchanges.
TopStep contains all the essential charts that you would expect to be a profitable trader, such as:
- candlestick charts
- line graphs
- bar charts
- point and shape
- Hi Nashi
Trader education and training
There are free training options as well as paid personal training programs that include:
- Daily live trading classes
- profit goals
- business psychology lessons
- Private Trader Group Chats
- Watch the professionals trade in real time
TopStep Trader . pricing
TopStep Trader offers different membership options starting from $165/month to $375/month. You have the option to start with a 14-day free trial without having to enter your credit card details, which is fine.
Below are the monthly membership packages available:
- $50,000 purchasing power – $165/month.
- 100 thousand dollars purchasing power $325/month.
- Purchasing Power of $150,000 $375/month.
As long as you’re subscribed to Trading Combine, Topstep will still charge you a monthly fee, but it disappears once you graduate to a funded account.
The TopStep Trader platform has a lot of rules and price variations that you should definitely familiarize yourself with in order to qualify and keep Funded Merchant Status.
For example, once you pass the Trading Combine, the monthly subscription fee will not be charged, and there will be no more account resets. Account can be reset during the Trading Combine for $99.
Once the funded account is traded, the monthly exchange fee will now be applied. Some trading platforms cost money during Trading Combine while others are free. Furthermore, for a funded account, you will incur commission fees and exchange fees which usually range from $0.72 to $4.30.
If you are to subscribe to CME, CBOT, NYMEX and COMEX to trade all permitted products, the monthly cost can range from $464 to $488 per month. Many traders choose to focus on specific exchanges to keep costs low.
Again, it is worth reading the finer details regarding the fees involved in a funded account as they differ from a joint account.
TopStep Funded Account Review Summary
Founded by Michael Pathak in 2012, TopStep Trader is great if you are looking to develop your skills in futures trading without risking a large portion of your capital.
The platform and trading environment will help you manage your risks, improve trading strategies, and become a disciplined trader just like a pro.
If you consider yourself a seasoned veteran, TopStep Trader is a great platform to test your skills at Trading Combine. Who knows, educational content alone can take you to the next level.
Three months should be long enough to decide if it is 100% right for you.