Ticker

6/recent/ticker-posts

Ad Code

Responsive Advertisement

TopStepTrader Review

Have you ever thought about a career change and becoming a futures and forex trader?

If that thought has crossed your mind but you’re unsure how to get started safely, then TopStepTrader could be your answer.

This platform supplies you with all the tools you need to not only learn all about futures and forex trading but also how you can improve your day trading skills and turn them into a profession. You don’t even need a lot of capital to get started.

Founded by Michael Patak in Chicago in 2012, TopStepTrader has been named one of America’s 5,000 Fastest Growing Companies according to a list from Inc.5000.

With this platform, you begin with a simulated account, so you are not putting your own money at risk while you are learning the skills of the day trader.

The platform is available in 143 countries for trading futures and forex.

If you perform well with your simulated account, you are rewarded with a fully funded account. This allows you to trade with TopStepTrader’s money. Be aware that there is no guarantee you will achieve this. But if you do, you keep the first $5,000 of profit and 80% of everything above that. More than $2 million was withdrawn by funded traders in 2020.

No-fee Trading Platform

There are around 13 different platforms, with the most beginner-friendly being TSTrader. It has no fees (not even hidden ones) and includes all the basic charts needed to manage your day trading career efficiently.

Education and Coaching

Top Step Trader’s provides a wealth of education and coaching on futures and forex trading, ideal for beginners through to veteran investors and includes new tips and tricks to increase profitability. Some coaching options are free, while users with more capital can invest in personalized performance coaching sessions.

Primary education offerings include:

  • Daily live trading classes
  • Lessons on trading psychology
  • Ability to watch the professionals trade in real-time

All classes are aimed at different knowledge levels, with high marks given where you show obvious progression.

Performance Coaching Plan

Each month, you’ll receive a one-on-one session with your coach. You can go over your trades and get advice on where you made mistakes. This service comes with a subscription of $395/month.

The service includes:

  • 30-minute kick-off session.
  • Personalized advice on your trading strategies.
  • Daily meeting and a weekly personal coaching session.
  • Access to the private trader group chat.

The coaches are experienced traders, many have real trading floor experience and have also coached and mentored new traders to help them achieve their goals.

Community Help

TopStepTrader comes with a thriving community. Users can ask questions in the interactive chat room, where both simulation users and funded traders are happy to answer questions.

  • There are also many active TopStepTrader communities all over social media, with the large TopStepTrader Facebook community being by far the most active of them.

What does it cost?

This depends on which of the four different membership options you choose for traders with simulation accounts. You also have the choice of a 14-day free trial, and you don’t even have to supply credit card details.

You pay your membership fees monthly, with each coming with different targets to meet if you want to be considered for promotion to funded trader status. There are also different maximum positions, buying power, drawdowns, and weekly loss limits that you must keep.

  • $50k Buying Power – $165/month.
  • $100k Buying Power – $325/month.
  • $150k Buying Power – $375/month.

What Happens if you Suffer a Big Loss due to a Bad Trade?

No Problem, your account gets reset, and you incur a $100 fee.

Remember, you are trading virtual funds and not losing anyone any money, so this is a barrier to new traders who might be trying out different strategies and taking greater risks than they would with their own money.

While no commissions are charged, there are transaction fees of $0.18 per contract, while similar platforms do not have these fees.

This TopStepTrader review goes into greater detail on the points just covered.

Is TopStepTrader Legitimate?

Yes.

It has been in business since 2012 and has been featured on CNBC, Bloomberg, Fox Business, Forbes, and MarketWatch. It has also won several awards, including being named one of the 101 Best and Brightest Companies to Work For in 2016.

Advantages

  • Wide range of excellent educational tools as well as live classes
  • Little capital needed to begin your journey
  • There is significant and helpful support available for popular trading platforms

Disadvantages

  • High membership fees
  • It is highly unlikely to become a funded trader

TopStepTrader Review Conclusion

It is a very legitimate and trusted platform that can be great for getting started and testing out your skills before committing too much. The amount of educational content is enough to help your skills skyrocket and you can see the results of your efforts without risking your own money.

Monthly fees can become expensive over time, so you might prefer to commit to just one to two months to give yourself enough time to make the best decision for you.

 

The post TopStepTrader Review appeared first on Tweak Your Biz.

Enregistrer un commentaire

0 Commentaires