In the dynamic world of trading, proprietary firms like TopStepTrader have carved out a niche for themselves, offering traders a platform to hone their skills and potentially earn significant profits. These firms provide an environment where traders can utilize the firm’s capital to execute trades, sharing profits while mitigating personal financial risks.
This article delves into what TopStep offers and explores its notable competitors in the industry. Understanding these alternatives can be crucial for traders seeking different options that align more closely with their trading style and goals.
What is TopStep?
TopStep is a proprietary trading firm that has gained popularity for creating a competitive yet rewarding trading environment. It allows traders to trade in futures and forex markets without any restriction on their trading style.
One of the unique aspects of TopStep is its “Trading Combines,” which are monthly simulated trading evaluations that test the traders’ skills in real-time market conditions. Successful participants in these combines can earn funded accounts to trade with real money.
Founded in 2012 by Michael Patak, TopStep has grown rapidly, attracting traders worldwide with its inclusive approach and commitment to trader development. The firm’s focus isn’t just on funding traders but also on educating them, offering a wealth of resources to enhance their trading knowledge and skills.
Read my full TopStep review for a deeper dive into the company.
TopStep Pros & Cons
Pros
- No restriction on trading style.
- Offers both futures and forex trading.
- Up to 80% profit split for traders.
- Access to educational resources.
- Real-time, simulated trading evaluations.
Cons
- Monthly subscription fees for participation.
- Stringent rules and targets in trading combines.
- Limited trading products compared to some competitors.
- No immediate real-money trading for new users.
- Profit sharing, meaning traders don’t keep 100% of their earnings.
TopStep Coupon Codes
Why Seek Alternatives to TopStep?
While TopStep offers a robust platform for traders, it may not suit everyone. Some traders might look for alternatives that offer different profit splits, trading conditions, or evaluation processes. Others might prefer a platform that allows immediate trading with real money or provides a broader range of trading instruments.
Exploring alternatives to TopStep can help traders find a prop firm that better aligns with their individual trading strategies, risk tolerance, and financial goals.
Check out my full list of the best futures prop trading firms.
Quick Breakdown
- Take Profit Trader: Best for traders seeking higher profit splits and more relaxed risk parameters.
- Elite Trader Funding: Ideal for experienced traders looking for immediate trading opportunities post-registration.
- Apex Trader Funding: Suitable for traders favoring an efficient single-step assessment process and flexible trading guidelines.
Top Three TopStep Competitors
1. Take Profit Trader
4.6/5
MORE INFO
| Fees | Best For |
| Variable | Higher profit splits |
Benefits
- Up to 90% profit split.
- Ideal for aggressive trading styles.
- More relaxed risk parameters.
- No extra charges for educational resources.
- Supports multiple trading platforms.
- Immediate transition to real capital trading.
- Clear guidelines for traders.
- Suitable for both novice and experienced traders.
Overview
Take Profit Trader stands out in the prop trading world for its generous terms and exceptional profit split, making it attractive to confident and skilled traders. The firm offers a straightforward pathway to trading futures, backed by a strong focus on clarity and simplicity.
Their pragmatic approach to trading rules, coupled with access to an extensive library of learning materials, positions Take Profit Trader as a firm that genuinely invests in its traders’ growth.
Company
Founded by James Sixsmith, a former professional ice hockey player turned trader, Take Profit Trader was born out of Sixsmith’s personal trading experiences and challenges. The firm is a manifestation of his vision to provide a supportive trading environment that minimizes financial risks for traders while maximizing their potential to earn and learn.
Read Full Review
2. Elite Trader Funding
4.5/5
MORE INFO
| Fees | Best For |
| Variable | Experienced traders |
Benefits
- 80% profit split for traders.
- No evaluation or challenge required.
- Immediate trading access post-registration.
- Straightforward path to funded trading.
- Ideal for seasoned traders.
- Bypasses the demo trading period.
- Clear and flexible trading guidelines.
Overview
Elite Trader Funding offers a unique proposition in the prop trading firm landscape, providing a direct route to funded trading without the need for an evaluation or challenge. This approach is particularly appealing to experienced traders who can immediately showcase their skills in a live trading environment.
With a strong focus on risk management and trader support, Elite Trader Funding provides a conducive platform for skilled trading.
Company
Established by a trio of seasoned professionals, Elite Trader Funding’s foundations are deeply rooted in the founders’ understanding of the trading world’s challenges. With over 40 years of combined trading experience, the founders have tailored Elite Trader Funding to be a firm that supports traders’ growth while managing the risks associated with trading.
Read Full Review
3. Apex Trader Funding
4.5/5
MORE INFO
| Fees | Best For |
| Variable | 1-step evaluation |
Benefits
- One-step evaluation process.
- Bi-monthly payouts with no maximum limit.
- Impressive profit split.
- Flexible trading guidelines.
- Access to a wide range of markets.
- Strong reputation in the trading community.
Overview
Apex Trader Funding distinguishes itself with its efficient single-step assessment process, making it a go-to for traders who prefer a straightforward evaluation. The firm’s flexible guidelines and expansive market access cater to a variety of trading strategies and preferences.
Apex Trader Funding’s commitment to trader development and its inclusive approach has garnered a strong reputation among the trading community.
Company
Founded in 2021 by Darrell Martin, Apex Trader Funding emerged from his own experiences as a successful trader and his desire to create a more trader-centric prop firm. Based in Austin, Texas, the company has quickly established itself as a major player in the proprietary trading firm space, offering a collaborative and supportive environment for traders worldwide.
Read Full Review
Final Thoughts
TopStep remains a solid choice for traders who value a structured environment with a focus on education and gradual progression. Its monthly combines and profit-sharing model are suitable for those who prefer a more traditional approach to prop trading. Click here to get started, and be sure to also check for the latest TopStep promo codes.
However, traders looking for higher profit splits, immediate trading access, or a simpler evaluation process might find better alignment with alternatives like Take Profit Trader, Elite Trader Funding, or Apex Trader Funding.
Each of these firms offers unique advantages, catering to different types of traders based on their experience, trading style, and financial goals. Ultimately, the choice depends on individual preferences and trading objectives.
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