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Topstep's Nick Dolby (Social Media and Community Coordinator) - Ask me Anything (AMA)

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  #1051 (permalink)
 bobwest 
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canoekoh View Post
Just to give an update on my issue:

I talked with Ryan from Topsteptrader over the phone and he took care of the issue for me.

It was technically not feasible to transfer the account balance after switching data feeds but what he did was delete my current Combine account and give me a 100% off promo code to create a new Combine account. Then I set up this new account with Rithmic and although my account balance was reset, my billing date was also reset to +1 month from today so at the very least, I haven't 'lost' trading days, if that makes sense.

Good. I am not surprised they would do something reasonable. My experience has always been that they will work to make things right.

I'm glad it worked out as it did for you.

Bob.

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  #1052 (permalink)
 Topstep  Topstep is an official Site Sponsor
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canoekoh View Post
Just to give an update on my issue:

I talked with Ryan from Topsteptrader over the phone and he took care of the issue for me.

It was technically not feasible to transfer the account balance after switching data feeds but what he did was delete my current Combine account and give me a 100% off promo code to create a new Combine account. Then I set up this new account with Rithmic and although my account balance was reset, my billing date was also reset to +1 month from today so at the very least, I haven't 'lost' trading days, if that makes sense.


Hi @canoekoh,

We're happy to hear our rockstar Trader Support team was able to help you out. When it comes to technical issues with our program or our partners' software, we try to be as accommodating and transparent as possible. We're sorry this process wasn't as smooth as it could have been, and we thank for your patience. Please let us know if you have any additional questions or concerns.

If you have any questions about our products or services at Topstep (formerly TopstepTrader), please send me a Private Message or use the FIO "Ask Me Anything" thread.
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  #1053 (permalink)
 SBtrader82 
Rovigo (ITALY)
 
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I have heard that although you can trade with Rithmic and sierrachart in the trading combine, once you get funded the only broker that TST alllows for sierraChart users is CTS.
Now I am really worried, I passed the combine by using Rithmic and I was really satisfied with it.

I do not want to trade with CTS anymore, and I don't want to use CTS with SierraChart knowing that Sierrachart itself complained about problems with CTS.
Sierra is progressively taking distance from CTS.

Has anyone heard of the same from TST?

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  #1054 (permalink)
TickTick
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  #1055 (permalink)
 bobwest 
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SamJames View Post
I have heard that although you can trade with Rithmic and sierrachart in the trading combine, once you get funded the only broker that TST alllows for sierraChart users is CTS.
Now I am really worried, I passed the combine by using Rithmic and I was really satisfied with it.

I do not want to trade with CTS anymore, and I don't want to use CTS with SierraChart knowing that Sierrachart itself complained about problems with CTS.
Sierra is progressively taking distance from CTS.

Has anyone heard of the same from TST?

I suggest sending an email to TST support on this, or flag @TopstepTrader in a post and ask the question that way.

If it's important to you, you need official information direct from TST. Please share any answers you get here so others will know the situation.

Bob.

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  #1056 (permalink)
 SBtrader82 
Rovigo (ITALY)
 
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bobwest View Post
I suggest sending an email to TST support on this, or flag @TopstepTrader in a post and ask the question that way.

If it's important to you, you need official information direct from TST. Please share any answers you get here so others will know the situation.

Bob.

Yes, I will send an email to TST tomorrow. However I was told that I will have to use CTS by TopSteptrader itself in a conversation that I had with them on the phone.

I will let you know.

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  #1057 (permalink)
TickTick
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The 150k funded account allowing up to 15 contracts. The 150k is the buying power.. so what is the true equity account value? Since we would be using prop firms funds we would no longer be considered “Non-Professional”.

TST $420/mo for live data feeds CME Globex bundle(professional status now) + $2.96 Round turn fees using TSTrader platform($3.96 Round turn fees or more if using another platform) The $5k profit we keep 100%. After, we keep 80% of profits at time of withdrawal. 150k buying power-15 contracts = how much equity?

Examples based off E-Mini S&P500 and avoiding maintenance margin (4pm-5pm CT)

15 contracts @ TDameritrade(w/ qualified up to 50% intraday margin relief 8:30am - 3pm CT) $49,203($3280.2ea.) + $5.4 round turn fees. No fees for data 100% commission. Otherwise with out 50% margin relief intraday cost will be double if the $49,203 @ $98,406 for 15 contracts and the rest still applies. VERY flexible loss limits/drawdowns. They most often work with you if you need time to deposit funds.

15 contracts @ AMP futures $6000($400ea. or as low as $300... and Intraday is 5pm cst to 3:45cst) + $3.60 Round turn fees + $15/mo CME Globex bundle(CQG) data bundle. 100% profits kept. Margin and/or 80% daily loss limit liquidation with $25 fee.

15 contracts @ NinjaTrader $7500($500ea. Intraday hours 5pm - 3:45pm CT) + $3.78 round turn fees + $21/mo CME Globex bundle(CQG). 100% profits kept. Stop out level/liquidation level account must maintain sufficient funds for the initial margin requirement for each contract($500) $25 fee first violation $50 fee there after.

*All this info is based off speaking with customer service as I have been narrowing down who I want to stick with. Please advise if anyone notices incorrect information.

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  #1058 (permalink)
 RDK91 
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TickTick View Post
The 150k funded account allowing up to 15 contracts. The 150k is the buying power.. so what is the true equity account value? Since we would be using prop firms funds we would no longer be considered “Non-Professional”.

TST $420/mo for live data feeds CME Globex bundle(professional status now) + $2.96 Round turn fees using TSTrader platform($3.96 Round turn fees or more if using another platform) The $5k profit we keep 100%. After, we keep 80% of profits at time of withdrawal. 150k buying power-15 contracts = how much equity?

Examples based off E-Mini S&P500 and avoiding maintenance margin (4pm-5pm CT)

15 contracts @ TDameritrade(w/ qualified up to 50% intraday margin relief 8:30am - 3pm CT) $49,203($3280.2ea.) + $5.4 round turn fees. No fees for data 100% commission. Otherwise with out 50% margin relief intraday cost will be double if the $49,203 @ $98,406 for 15 contracts and the rest still applies. VERY flexible loss limits/drawdowns. They most often work with you if you need time to deposit funds.

15 contracts @ AMP futures $6000($400ea. or as low as $300... and Intraday is 5pm cst to 3:45cst) + $3.60 Round turn fees + $15/mo CME Globex bundle(CQG) data bundle. 100% profits kept. Margin and/or 80% daily loss limit liquidation with $25 fee.

15 contracts @ NinjaTrader $7500($500ea. Intraday hours 5pm - 3:45pm CT) + $3.78 round turn fees + $21/mo CME Globex bundle(CQG). 100% profits kept. Stop out level/liquidation level account must maintain sufficient funds for the initial margin requirement($500) $25 fee first violation $50 fee there after.

*All this info is based off speaking with customer service as I have been narrowing down who I want to stick with. Please advise if anyone notices incorrect information.

Yes, funded traders are considered professionals by the exchange, so you have to pay professional fees. However there are alternative firms out there who will pay the exchange fees for you or take them from the funded balance so you don't have to pay them upfront.

The equity you get with the $150K account basically is $4500 since this is your maximum trailing draw down, this might not be enough to cover the 15 contracts but you also have to adhere to the scaling plan in the funded account, you can only start with 3 contracts and only when you get over $4500 profit you can trade the 15 contracts. At this point the equity of the account still is $4500 because of the trailing stop, you went from $150,000 up to $154,500 but your trailing stop also went up from $145,500 to $150,000, from here on the trailing draw down does no longer trail and so you can start to build your equity.

$6000 margin at AMP still is a lot more money to lose than the $375 fee for a combine if you fail, in some cases a funding company like TST or others can make sense. Each trader should make this op for his/her own case.

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  #1059 (permalink)
 bobwest 
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TickTick View Post
The 150k funded account allowing up to 15 contracts. The 150k is the buying power.. so what is the true equity account value? Since we would be using prop firms funds we would no longer be considered “Non-Professional”.

TST $420/mo for live data feeds CME Globex bundle(professional status now) + $2.96 Round turn fees using TSTrader platform($3.96 Round turn fees or more if using another platform) The $5k profit we keep 100%. After, we keep 80% of profits at time of withdrawal. 150k buying power-15 contracts = how much equity?

Examples based off E-Mini S&P500 and avoiding maintenance margin (4pm-5pm CT)

15 contracts @ TDameritrade(w/ qualified up to 50% intraday margin relief 8:30am - 3pm CT) $49,203($3280.2ea.) + $5.4 round turn fees. No fees for data 100% commission. Otherwise with out 50% margin relief intraday cost will be double if the $49,203 @ $98,406 for 15 contracts and the rest still applies. VERY flexible loss limits/drawdowns. They most often work with you if you need time to deposit funds.

15 contracts @ AMP futures $6000($400ea. or as low as $300... and Intraday is 5pm cst to 3:45cst) + $3.60 Round turn fees + $15/mo CME Globex bundle(CQG) data bundle. 100% profits kept. Margin and/or 80% daily loss limit liquidation with $25 fee.

15 contracts @ NinjaTrader $7500($500ea. Intraday hours 5pm - 3:45pm CT) + $3.78 round turn fees + $21/mo CME Globex bundle(CQG). 100% profits kept. Stop out level/liquidation level account must maintain sufficient funds for the initial margin requirement for each contract($500) $25 fee first violation $50 fee there after.

*All this info is based off speaking with customer service as I have been narrowing down who I want to stick with. Please advise if anyone notices incorrect information.

It's hard for me to understand the question, so I may have gotten what you are asking wrong. Sorry if I did.

The reason it's hard to understand the question is because if you have a funded TST account, you don't actually have a separate account with a broker -- you actually have a sub-account of the trading firm's main account with its broker. You aren't responsible for the margin, because it's not your account; the required margin is between the firm and the broker, and you're out of the picture. The firm just gives you a number of contracts you can trade against the total margin in its account (which is backing other traders as well.) This is why the funded account balance is always initially set to zero, not to 150k, and the subsequent balance, whether plus and minus, is entirely due to your trading. (It can only go so far into the minus before the firm closes you out, to protect itself.) Your account balance is a balance with the firm, not with the firm's broker.

The Combine account is given a sim balance of 150k, just as any sim account has a sim balance, but it's entirely different with the funded account.

If I didn't understand your question, I apologize. But it seems like you are concerned with maintaining sufficient margin in the account with the broker, which would be a concern for your own personal account, but not for the funded account with the trading firm, which is not a separate account with the broker. Your account is one of many which, in total, are being backed by the total margin the firm has with its broker. So any margin requirement of any of the firm's brokers is not something you have anything to do with.

I hope this makes sense and addresses what you are asking.

Bob.

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  #1060 (permalink)
 bobwest 
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SamJames View Post
I have heard that although you can trade with Rithmic and sierrachart in the trading combine, once you get funded the only broker that TST alllows for sierraChart users is CTS.
Now I am really worried, I passed the combine by using Rithmic and I was really satisfied with it.

I do not want to trade with CTS anymore, and I don't want to use CTS with SierraChart knowing that Sierrachart itself complained about problems with CTS.
Sierra is progressively taking distance from CTS.

Has anyone heard of the same from TST?


SamJames View Post
Yes, I will send an email to TST tomorrow. However I was told that I will have to use CTS by TopSteptrader itself in a conversation that I had with them on the phone.

I will let you know.

I had a similar concern after reading @SamJames' posts, so I sent an email to TST asking about it:


Quoting 
I am getting ready for a Combine, and I will use Sierra Chart. I notice in your Help that the Combine uses Rithmic for Sierra, which is fine. TST used to use CTS with Sierra, and I am glad that you have changed this, because Sierra itself has had issues with CTS and is moving away from it and is not recommending it any more.

But in the event that I become funded, will TST use CTS for the funded account? In your Help page http://help.futures.topstep.com/hc/en-us/articles/115010515748-List-of-Supported-Platforms the broker for funded accounts with Sierra is listed in the table as Cunningham (which is CTS) / Stage 5. I have a concern about any connection between Sierra and Cunningham, given the technical problems that have made SC move away from CTS.

Thanks for your reply.

Here's the response I received this morning:


Quoting 
Kevin (TopstepTrader)

Jul 8, 10:01 AM CDT

Hi Robert,

Thank you for contacting us!

Sierra Chart can use either brokerage depending on the data feed in the Funded Account. If you have a preference please be sure to let us know at the time you earn your Funded Account.

Please let us know if you have any additional questions.

Best,
Kevin

Customer Support Team Lead

If I were at the point right now of needing to have a funded account set up (which I am definitely not), I would want more info. I am not sure what "depending on the data feed in the Funded Account" means in this case -- their table lists "DTS/Rithmic" as the two data feeds, which to me implies that Rithmic users wouldn't be using CTS in the funded account, but I'm not sure.

But it seems that they have a degree of flexibility on the matter, so my concerns are somewhat put to rest. If and/or when I have to specify a preference, I will address things again.

@SamJames, do you have any additional information? Are you satisfied with TST's position? Does this email agree with the options you have been offered? There are probably a number of people who would benefit from knowing.

Bob.

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