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Anybody heard of topsteptrader (review)

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tommartin321 View Post
Mr. Hoagland should be required to address the reason why revoked their 5 star rating.

Regardless of your feelings about Emmett, going from a 5 star to a "TopStepTrader sucks" almost never happens. Remember John, the truth shall set you free.

“MES Capital rebranded their name to One Up Trader and decided to offer a better deal for consumers. How much of a better deal? Much better. They addressed some of the most egregious practices of TopStep Trader. I won’t go into the specifics, but the business model of OneUp Trader is now attempting to offer a better deal to consumers.”

“Thanks for reading. This is a story that I would truly love to read your comments. Personally, these buttholes at TopStep Trader have really gotten under my skin. Its time that someone knocks them square in the jaw.”

These are my favourite quotes. Sounds like he really went out of his way to put together a constructively argued and objective article.
I like the way he criticises Topstep for charging for Combines, (because it is a business that has running costs and overheads, and horror of horrors makes a profit for the people who risked their time and money to set the business up), unlike the way MES used to, then MES fails, turns into One Up and starts charging for Combines. But whereas TST charging is bad, somehow One Up charging is good, and an improvement on it having been free before.

In a previous TST v One Up review he listed all the things that were bad about TST and glossed over the fact that the same rules all now applied to One Up since they had just copied them all. There are now only a few differences between the two, such as:

TST require a 10 day minimum Combine followed by a 10 day minimum FTP, One Up only require a 15 day minimum Combine.

One Up are a little cheaper.

But then, One Up has some extra rules, such as the 80 % rule for three days profits in relation to the highest day’s profits.

Also TST went to the trouble and expense of integrating the trading platforms in to their risk management interface/software so that you can’t for instance exceed the maximum number of contracts allowable to trade as the order is refused. One Up it appears haven’t gone to the expense of doing that as was clearly shown by a newly funded One Up trader last week writing a journal on this site who accidentally added a contract to a position instead of taking one of, exceeded their maximum position size, and lost their account. He is now racing through a TST Combine as with One Up, once it is over that’s it. Find me one trader that has never accidentally clicked buy instead of sell, or vice versa, before realising and taking it off. ( , )

Lastly TST have chat rooms and lots of help videos they are producing every week clearly showing their staff and the company CEO, all former floor traders offering advice and showing the company philosophy. One Up has an address on their website and no other information about the people involved with the company.

Nobody is forced to buy either company’s product. I have chosen TST. It is a bit more expensive but I trust them and I think the extras add value.
Coming to the original point, I don’t see why TST should address anything to TradingSchools, the brief working relationship they had has soured and the guy is clearly completely biased against them.

Trading, ideally structured, is a vehicle for expanding consciousness, not damaging it. - Brett Steenbarger
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