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Anybody heard of topsteptrader (review)


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Anybody heard of topsteptrader (review)

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  #571 (permalink)
Chicago, Illinois
 
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I think it would be pointless for them to market themselves as a prop trading shop when really all they do is dish out SIM accounts...so they would seem to be legit...but I would like to ask current funded traders 1 question:

How tight is the leash they keep you on?

The available draw downs look rather large (1000 bucks a day).

Thats the part that is very strange...how can they absorb potentially huge losses on a bunch of losing traders...WITHOUT collecting some kind of capital buffer upfront?

Around 5% move the market. 10% try to follow the 5%. The rest provide liquidity.
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  #572 (permalink)
Market Wizard
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@saints51

Believes are strong and I aint gone fight with you.
Believes are so strong that nations go to war because other nations have different believes.


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  #573 (permalink)
Louisiana
 
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lemons View Post
@saints51

Believes are strong and I aint gone fight with you.
Believes are so strong that nations go to war because other nations have different believes.


It is all good. My issue is not with you.

I am tired of the little guys in the world being stepped on. Sometimes people have to take a stand. I did what I felt was right in my heart.

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  #574 (permalink)
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Sarasota FL
 
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bootsyjam View Post
The crux of all this for me is "you have a chance to get funded."
If you successfully pass the Combine, is there any evidence to show that people do get funded? It looks as if they're selling a dream with no real evidence to show that you get a return on your monthly payments when you're in the Combine. Anyone have any thoughts on this?


lemons View Post
Its not a deam.
I am funded.

I got an email from them today announcing they had funded 150 traders so far this year.

I get emails every few days about a new trader being funded. There is usually a "new trader interview" put out on the web with these new traders.

I don't know how long they last, trading these accounts.... Trading is not that easy. Just passing the Combine is not easy. However, TsT does what they said they would do.

Sure, people do dream -- probably most people who are attempting to be traders are dreaming. But yes, they are actually funding people.

Bob.

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  #575 (permalink)
Boston, MA
 
Experience: Intermediate
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Here's my combine. As you can see, I passed with more than double the target profit. But I just don't know whether TopStep is on the level.




Why do I say this? After I completed this combine, my experience went like this:

1) They put me in their "funded trader preparation" program.
2) I requested a call from them to get a few answers to some things:
3) I never got the call.
4) I went ahead with the funded trader prep, then ran afoul of an ambiguously worded rule (which would have been clarified in that phone call I never received).
5) They cancelled my account.
6) I sent them two email requests asking for explanation.
7) Dead silence.
8) But they have my money.

Either they're disorganized or...well, again, I just don't know.

In any event, silly me. As always, caveat emptor.

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  #576 (permalink)
Reno, Nevada
 
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tortoise View Post
Here's my combine. As you can see, I passed with more than double the target profit. But I just don't know whether TopStep is on the level.




Why do I say this? After I completed this combine, my experience went like this:

1) They put me in their "funded trader preparation" program.
2) I requested a call from them to get a few answers to some things:
3) I never got the call.
4) I went ahead with the funded trader prep, then ran afoul of an ambiguously worded rule (which would have been clarified in that phone call I never received).
5) They cancelled my account.
6) I sent them two email requests asking for explanation.
7) Dead silence.
8) But they have my money.

Either they're disorganized or...well, again, I just don't know.

In any event, silly me. As always, caveat emptor.

Hi - Are the rules different in their funded trader prep program? What rule did you not understand? The reason I ask is that I've seen the same comment several times about these ambiguous rules so I'm just curious why so many people have the same problem with TST. Nice job on the Combine!

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  #577 (permalink)
Leeds UK
 
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phantomtrader View Post
Hi - Are the rules different in their funded trader prep program?

Yes, slightly, but they're very clearly explained on the website.


phantomtrader View Post
I've seen the same comment several times about these ambiguous rules so I'm just curious why so many people have the same problem with TST.

Their customer service seems very responsive, and they're willing to change wording that's confused people.

This thread will interest you:

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  #578 (permalink)
Reno, Nevada
 
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Tymbeline View Post
Yes, slightly, but they're very clearly explained on the website.



Their customer service seems very responsive, and they're willing to change wording that's confused people.

This thread will interest you:

Thanks for the reply and the link. Their business model seems to be successful. Maybe it was just a slip up that happened with the OP.

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  #579 (permalink)
Chicago Illinois
 
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tortoise View Post
Here's my combine. As you can see, I passed with more than double the target profit. But I just don't know whether TopStep is on the level.




Why do I say this? After I completed this combine, my experience went like this:

1) They put me in their "funded trader preparation" program.
2) I requested a call from them to get a few answers to some things:
3) I never got the call.
4) I went ahead with the funded trader prep, then ran afoul of an ambiguously worded rule (which would have been clarified in that phone call I never received).
5) They cancelled my account.
6) I sent them two email requests asking for explanation.
7) Dead silence.
8) But they have my money.

Either they're disorganized or...well, again, I just don't know.

In any event, silly me. As always, caveat emptor.

Tortoise,

We appreciate the feedback, we are constantly trying to ensure clarity and transparency with everything in the program so thank you for the criticism.

We also strive for excellent support and are sure to make the calls we are scheduled for, I called you as recently as Friday to discuss your emails and concerns and left a message including my direct line.

We have funded many traders and look forward to seeing you in a funded account soon. I hope to hear from you and again, thank you for the feedback.

Hoag

If you have any questions about our Trading Combine or the opportunity to get funded through TopstepTrader, please visit www.topsteptrader.com or contact us at support@topsteptrader.com or 888.407.1611.
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  #580 (permalink)
Boston, MA
 
Experience: Intermediate
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Trading: ES
 
Posts: 26 since Jul 2011
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Hoag View Post
Tortoise,

We appreciate the feedback, we are constantly trying to ensure clarity and transparency with everything in the program so thank you for the criticism.

We also strive for excellent support and are sure to make the calls we are scheduled for, I called you as recently as Friday to discuss your emails and concerns and left a message including my direct line.

We have funded many traders and look forward to seeing you in a funded account soon. I hope to hear from you and again, thank you for the feedback.

Hoag

Ok...I did receive a call from TopStep but there was no message. I returned the call thinking perhaps someone from TopStep was responding to my emails, after all. I spoke to a very nice woman who had no idea what I was talking about and said it was probably "a mistake." I asked her to take my name and number and inquire as to whether anyone there was trying to reach me. She said she would do so.

Then I heard nothing until I posted on a public forum.

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