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


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

  #1291 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746

Topstep is very proud to announce that we have switched to Deel for payouts. This means less paper work for our traders and over 15 different payout options. Massive Quality of Life upgrade for our traders here at Topstep.


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  #1292 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
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Trading: MES, MNQ
Frequency: Several times daily
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Posts: 644 since Apr 2015
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Topstep View Post
Topstep is very proud to announce that we have switched to Deel for payouts. This means less paper work for our traders and over 15 different payout options. Massive Quality of Life upgrade for our traders here at Topstep.


Sorry to be a killjoy, but doesn't this also mean that almost all of them will now incur additional costs in collecting their Topstep payouts in their bank accounts?

  #1293 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746



Tymbeline View Post
Sorry to be a killjoy, but doesn't this also mean that almost all of them will now incur additional costs in collecting their Topstep payouts in their bank accounts?

It should not no. For U.S. citizens there should be no change in cost and for non-U.S. citizens it should be cheaper because of the payout options.

https://help.futures.topstep.com/hc/en-us/articles/11794949512723-Deel-Agreements-and-Payouts-for-Funded-Traders

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  #1294 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 644 since Apr 2015
Thanks Given: 2,342
Thanks Received: 1,054


Topstep View Post
for non-U.S. citizens it should be cheaper because of the payout options.

Thank you. I was imagining that to withdraw $500+ to a bank account in any non-US country now incurs a fee through Deel, whereas it previously didn't, when paid out directly by Topstep.

I've misunderstood it all, then, have I? Sorry!!

  #1295 (permalink)
Topstep
Chicago, IL
 
Posts: 293 since Feb 2013
Thanks Given: 77
Thanks Received: 746


Tymbeline View Post
Thank you. I was imagining that to withdraw $500+ to a bank account in any non-US country now incurs a fee through Deel, whereas it previously didn't, when paid out directly by Topstep.

I've misunderstood it all, then, have I? Sorry!!

We still have all the other options for payout available so if there was one you were already using you can still you use it. This just gives us more options for more people around the world.

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  #1296 (permalink)
 
Tymbeline's Avatar
 Tymbeline 
Leeds UK
Market Wizard
 
Experience: Intermediate
Platform: Tradovate
Broker: Tradovate
Trading: MES, MNQ
Frequency: Several times daily
Duration: Minutes
Posts: 644 since Apr 2015
Thanks Given: 2,342
Thanks Received: 1,054


Topstep View Post
We still have all the other options for payout available


I see! I really did misunderstand. Apologies, and thanks for clarifying!

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  #1297 (permalink)
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,398 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537

Hi guys,

Topstep is no longer a site sponsor. As such, this AMA thread is now closed. I'm also in the process of updating their status around the community, if you see something I've missed please feel free to use the Report feature to raise it to the team.

You can reach Topstep on their website directly.

Mike

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