Is Topstep Trader legit or a scam?

Discussion in 'Prop Firms' started by qubit000, Mar 6, 2019.

How long have you been a funded trader with Topsteptrader?

  1. Less than 6 months

    5 vote(s)
    100.0%
  2. 6 months - 1 year

    0 vote(s)
    0.0%
  1. qubit000

    qubit000

    Searching for reviews and find very few from actual funded traders.

    Has anyone been funded for over 6mos and already withdrawn 100% of first 5k? If so, what value add is TST providing to you that justifies giving them 20% of trading profits?

    Also, has there been any 3rd party verification that once funded, TST traders are actually live and not still trading in SIM?

    If funded traders were in fact still trading in SIM, it would definitely lead to a lot churn in accts resulting in additional resets and monthly fees.
     
    SimpleMeLike likes this.
  2. Pekelo

    Pekelo

  3. qubit000

    qubit000

    Doing a search, I dont see any posts addressing my questions.
     
  4. Baron

    Baron ET Founder

    Topstep Trader has been sponsoring this forum for many years. They are not a scam. And in terms of third-party validation, the answer is yes because their order execution platforms are provided and monitored by third parties like NinjaTrader, Rithmic, Bookmap, Motivewave, etc, which are ALL sponsors of this site as well.
     
  5. qubit000

    qubit000

    Good to hear. What value add do you think theyre providing that justifies giving them 20% of trading profits?
     
  6. Baron

    Baron ET Founder

    The value they are providing is capital that the trader would not have access to otherwise. So if you have a funded account and you're trading with their money, then obviously any profits you make would be profits you would not have ever been able to make without access to that capital. So giving them 20% while you keep 80% is a fair deal.
     
    coplii, VPhantom and NQurious like this.
  7. The only negative feedback regarding to TST that I've for you is that not only you have to pay them 20% from your profits, but also you pay a lot of taxes since you are employed by TST which means you can't claim back any expenses like regular day traders do from trading their own accounts. Regarding to 80/20 split, I agree with Baron that it is a fair deal since TST provides you with their capital to trade.
     
    coplii likes this.
  8. qubit000,

    They are not a scam. My friend and I was there for 6 months. Very good service.
     
  9. Are you any better off than you were beforehand?
     
    gkishot and SimpleMeLike like this.
  10. What is your definition of scam ?
     
    #10     Mar 6, 2019