Is that bad??? Why would I want to give a % of my profits away?? Yes, they make commission dollars off of me....so what? Do you expect them not to? And they do care about me and my profitability. The longer I am profitable the longer I trade and generate commissions. So they give me a very low rate that allows them to make a small profit and me to be profitable. Where is the issue??
I would avoid TopStep Trader. From what I have experienced and heard, they are out to make money from their combine fees, not their traders.
You are 100% correct. That is the consensus here on ET. The fact that the scam/not scam argument persists is because there is one person on this board that appears to be associated with them and spends countless posts defending them.
LOL, dude, you know nothing about the industry. They could care less if you make money. The best trader a deposit type equity firm can have is a guy who takes as little risk as possible (scalper) holds no overnights, trades a lot for small gains and losses yet hovers around breakeven. Profitable traders become very efficient over time and reduce their commissions. They also tend to scalp less and hold longer. They also take up more capital. And ultimately once they have enough capital most of them leave. There is a perfect sweet spot there for an active guy who is a scratch trader but thinks he is oh so close to turning the corner so he doesn't quit. And when guys are scratch traders they are deathly afraid of risk and keep their trade times very short. Guys who are down huge or up huge both become risk seekers. Firms are not interested in either of these types. I learned this first hand when I was marketing a few trading groups for my firm. They were hugely profitable but did not generate enough juice. They needed a lot of buying power and were going to expose the firm to huge risks. It was much easier for me to place guys that racked up huge fees with little risk and no p&l. Just the way the business works.
Hey, at least I try to be a value add around here. What's your excuse? Did you learn how to use the search function yet or am I going to have to hold your hand and walk you through that like a 5 year old.