Anybody heard of topsteptrader (review) | Trading Reviews and Vendors


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Anybody heard of topsteptrader (review)

  #99 (permalink)

Munich, Germany
 
 
Posts: 285 since Apr 2012
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dandxg View Post

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I don't think they should work for free, but I have a hard time believing that the cost they charge was just for admin and data storage. I don't buy that one.

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I have yet to read the ET thread on TST/Patak, but my current point of view is that it is no problem to charge for the combines. I don't think either that the fee is for admin or data storage or whatever expenses they might have. I can not believe that it costs them that much to have these sim accounts running and checked as most of it must be automated.

However, that is not the point (even if they say so). IMO it's just that they are selling you a dream... the chance to become a funded prop trader. And people are willing to pay for that chance. There is demand for that and they meet the demand. It's just an additional income stream for them as I see it. Their requirements for a funded trader are pretty strict, so it's natural that most of the people don't pass the test.

The only thing that bothers me is that they say that even if all the formal requirements are met to become a funded trader, the scout team's review is still subjective and you can be asked to repeat the evaluation period. I hope that this is not designed as a loophole to screw people...

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