what if you're really just trading a demo "funded account" and that all withdrawals are just cost of business for them. the likelihood someone being a success post the evaluation period is slim, so it's better not to risk their real money. Maybe there is no such thing as funded account, how would anyone know?.
I passed the 1st part, still working on the 2nd. I hope this is not how you actually make money. I have a full time job and just trade a little when I get home. By the way my Forex system which was number 1 out of over 9,000 systems only traded a couple times a week. This was not through Top and I got paid by number of subs in addition to my real money account. It was close to fully automated, did not have to watch it at all. One thing about Top I really don't like is you can't have trades during report days. In real life you can easily hedge these days so you don't lose a lot of money.
There are 2 ways to hedge currency risk on report days. 1 way is to have 2 trading accounts and be long on EUR/USA in one account and short on the other. The other way is say you are long EUR/USA and short GBP/USA in same account which is normally what I did. Now you might ask, what is the point of being long and short at the same time. Well, you need to remember this is automated with risk control. So a trade may initiate long if certain conditions are met, and the other trade would go short if certain conditions are met. Of course this is not to say you will never take a loss, but you are able to determine how much of a loss you will take and take no more.
If I do get profitable and request a withdrawal, if I get a K-1 that basically settles it. It's not like I'm buying equity in the company or something. *Unless there's some way you could declare a profit split as two different income sources...
Secret Sauce if you are doing this through Topstep I don't think you get a K-1, instead I think you get a 1099-NEC. You are a contractor, so no 60/40 treatment for your profits, it goes to your income line. Possibly you would also have social security/Medicare tax that you would be liable for as a result.
So the account went to $#!+. Now, I am contemplating if I am going to try again or fund an account and just focus on that. I guess I am doing something right since I am able to pass their testing. Try again or venture out on my own? What do you guys think?