TopstepTrader withdrawals - any issues?

Discussion in 'Prop Firms' started by Peblo, Jan 25, 2020.

  1. Peblo

    Peblo

    Has anyone here, being a funded trader with TST, ever had a problem with withdrawing money from their account? Is it always paid out without any questions asked within 7 days?
     
    tyro likes this.
  2. Had a delay once but they always paid out. I have to say though, I think their combines are getting more and more expensive compared to their competition these days. On top of that you have to pass it twice.
     
    tyro and VPhantom like this.
  3. Peblo

    Peblo

    What was the delay caused by? What is the FCM the money came from? Was this the account of Patak Trading Partners, LLC?
     
    tyro likes this.
  4. Peblo

    Peblo

    They do not answer the questions I ask them. How can anybody do business with them?
     
    Ilmarinen and volente_00 like this.
  5. Peblo

    Peblo

    @TopstepTrader
    Dear TopstepTrader representative,
    If your support is not able to tell me this by email and clearly has no idea about technical aspects of futures trading, perhaps you could answer here:
    1. What FCM is Patak Trading Partners, LLC using for executing and clearing the trades of funded traders?
    2. Why does each trader not trade in his very own sub-account? This would allow you to share account statements with this trader as opposed to the current omnibus account structure.
    3. Could you PM me a copy of a trader contract?

    Is that too much for a company that apparently is so reputable? Or is it all fake and worth reporting to CFTC?
     
  6. Peblo, tell me, how long is the delay in payment?
     
  7. Peblo

    Peblo

    I am not with TST (yet). I am doing due diligence
     
  8. trade2020

    trade2020

    Be careful - in your funded account - if you withdraw your profits down to zero Topstep will close your account because they only offer a trailing drawdown and not a true fixed drawdown.

    Once you have made profits equal to your max drawdown - a trailing drawdown requires you to keep profits equal to the max drawdown in the account (meaning you cant withdraw them if you still want your max drawdown)

    example: $4,500 max trailing drawdown in your funded acct - you start out week 1 and generate $4,500 in profits. If you withdraw the entire positive balance of your funded account of $4,500 your account is closed. Their risk is overwith---you must now keep all $4,500 in the account and it now is your cushion to keep the account open.

    The real funding is just provided at the start of the funded account - if you lose daily and keep losing then eventually when hit your max allowable loss the account is closed and they have taken the loss bot you. Conversely though if you generate profits you must keep profits equal to max drawdown always in the account to keep that drawdown--hence--trading with your own money at risk from that point on and paying them 20%
     
    apdxyk likes this.
  9. traider

    traider

    sounds like it's a no brainer win for them. How does one start such a lucrative business?
     
  10. SanMiguel

    SanMiguel

    What I can't figure out with TS is the 80:20 profit split. Most firms offer 30:70 or 50:50 max.
    Guessing the capital is much higher though
     
    Last edited: Feb 15, 2020
    #10     Feb 15, 2020