TopStep Trading Account Types and Differences

With a variety of account kinds and creative funding options for futures trading, TopStep trading account types and differences made a name for itself as a top proprietary trading firm. The platform’s distinct funding and evaluation processes offer a systematic approach to professional trading. This article will examine topstep trading account types and differences.

Topstep Account Size Options

Three main account sizes are available on TopStep:

• $50,000 Buying Power Account 
• $100,000 Buying Power Account 
• $150,000 Buying Power Account 

$50,000 Buying Power Account 

• The monthly subscription fee is $165.
• $3,000 is the target profit.
• $1,000 is the daily loss cap.
• $1,000 is the weekly loss cap.
• Five contracts is the maximum position size.
• Maximum Drawdown Trailing: $2,000

$100,000 Buying Power Account 

• The monthly subscription fee is $325.
• $6,000 is the target profit.
• $2,000 is the daily loss limit.
• Limit on Weekly Losses: $2,000.
• Ten contracts is the maximum position size.
• $3,000 is the trailing maximum drawdown.

$150,000 Buying Power Account

• The monthly subscription fee is $375. 
• $9,000 is the target profit.
• Daily Loss Cap: $3,000.
• 15 contracts is the maximum position size.
• $4,500 is the trailing maximum drawdown.

Topstep Trading Account Types and the Evaluation Procedure

1. The Trading Combine Challenge

The first phase of TopStep’s funding procedure entails:

• A simulated trading environment 
• No deadline for completion
• Strict guidelines for risk management
• Possession of multiple simultaneous accounts.

2. Funded Account Types

Standard Funded Account

• Live trading using real capital
• $0 initial balance
• Same parameters as Trading Combine Step 2.
• Instant access to real-time marketplaces

Pro Account

• Profit accumulation is possible 
• Simulated trading account.
• Pathway to a Premium Funding Account
• After five profitable trading days, 50% of profits can be withdrawn from the Premium Funded Account.

Premium Funded Account

• Beginning balance determined by revenues from the Pro Account
• Real money trading account
• $5,000 in profit is needed in the Pro Account.
• More flexible trading conditions

Structure for Profit Sharing

TopStep provides a compelling profit-sharing scheme:

• The trader receives 100% of the first $5,000 in gain
• 80% going to them in the 80/20 profit split thereafter.
• 100% of the first $10,000 in profits are offered by the Premium Funded Account.

Trading Limitations

Significant Restrictions

• No holdings for overnight trades
• Maximum daily losses
• Particular limitations on position size
• There are exchange data fees ($132/month).

Platforms and Trading Options 

Supported Platforms

TopStep offers five choices for trading platforms:

• TradingView 
• T4 
• TopstepX 
• Quantower 
• TradeView

Comparative Benefits

Advantages

• Various account size options
• Flexible evaluation procedure
• Profit-sharing strategy that is appealing
• Multiple platform support
• No time limit during initial evaluation

Disadvantages

• Tight guidelines for trading
• Monthly subscription fees
• Exchange data fees
• Restricted overnight trading

In conclusion

TopStep is a complete futures trading platform that provides traders with several options for becoming a professional trader. The firm differentiates itself in the proprietary trading market by offering a variety of account types, adaptable evaluation procedures, and alluring profit-sharing plans.

A range of account sizes and types are available to traders, each of which is intended to suit a distinct trading style and level of expertise. By ensuring that only consistent and disciplined traders are granted access to funded accounts, the multi-stage review procedure upholds the platform’s high standards for professional trading.

TopStep is a desirable choice for futures traders looking to turn their hobby into a lucrative career because it offers both simulated and live trading accounts in addition to an open profit-sharing plan. 

Frequently Asked Questions

1. What Are The Account Sizes TopStep offers?

TopStep offers three account sizes:

• $50,000 Buying Power Account
• $100,000 Buying Power Account
• $150,000 Buying Power Account

2. How Many Accounts Can Traders Have Simultaneously?

• Up to five Express Funded Accounts
• One Live Funded Account at a time

3. What Is The Difference Between Pro and Funded Accounts?

The differences includes:

• Pro Account: Simulated trading environment
• Funded Account: Live trading with real capital
• Pro Account: Requires $5,000 profit to transition to Premium Funded Account
• Funded Account provides immediate live trading access

4. How Long Does An Account Setup Take?

Account setup varies:

• Pro Account: 1-2 business days
• Funded Account: 7-10 business days