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Wanted to update the community on a new major release for the Topstep program. Effective immediately Topstep Funded Traders will automatically return back to Step 2 after a rule violation. This mean that Topstep Funded Traders have the fastest path back to funding in the industry. Once you proved that you have what it takes to be funded you are only three days away from getting back into your Funded Account.
For additional information:
Can you help answer these questions from other members on NexusFi?
That's a nice rule change, but do you actually pay people? There's a thread on here that's been unanswered for months where you didn't pay someone who legitimately earned money, because you changed the rules and applied them retrospectively.
We pay people out everyday and with 100% transparency as we have a bot in our Discord that posts them automatically. Can you point me to the thread in which that question was unanswered?
I have to make a decision about how to move forward and I got quite disappointed.
Short story:
My mentor advised me to get into a prop firm to save on comissions. A prop firm like Axia is too expensive for me at the moment because I would have to move …
Thank you for sharing. That issue occurred over a year ago and involved a rule that we had for a moment where more than half your trades had to be held longer than 20 seconds. That is no longer a rule.
I am not sure what the final resolution was for that trader but back then we were having issues with traders trading hundreds if not 1,000's of contracts in the NQ and the SIM was giving outrageously favorable fills compared to real market fills. So this might have been an attempt to squelch that behavior as this more gaming a particular circumstance than actually trying to execute a strategy that would work in both SIM and Live environments.
I have no problem with that, and would agree that we're not trying to beat a sim but to learn to trade properly. So I think it's a good thing that you updated your sim to add slippage and be more realistic.
However, the issue I have is that you changed the rules months after this trader had passed, profited, and requested a payout. Their first email is dated April 27th, you confirmed they would be getting a payout then didn't pay them. Then after several more confirmations you got back to them saying they would not be paid due to a rule change, but this email was in June, and the rule change was brought in after they had passed. I think this is an awful thing to do to someone, as they would have been expecting that money and checking their bank every day.
So while I agree with your rule change, the problem is that you applied it retrospectively. And that means that any other future rule changes could affect us today if we started trading with you. What is to say that if I pass this month, make some money on a funded account and request a payout, that you won't bring in a new rule in January that will mean I never get paid?
Your concerns are legitimate but I am not familiar with a situation that is over a year old. Our recent history has shown no issues of traders taking payouts as long as they are following the guidelines that we have in our Help Center. You can always contact our support team and request the Funded Trader Agreement if you have any concerns.
I don't understand treating every contract the same, from the website it looks like for the 50K level, for example, you're allowed up to five contracts. But rather than 5 minu ES contracts, I would like 50 microcontracts. Gives me greater resolution, So I can scale my entries with my risk.
This thread began as a simple announcement of a procedural change that will affect funded Topstep traders who have to recycle back to the Combine -- which is an important change to a few traders and is completely worthy of notice and discussion for them -- and it has rapidly branched out to include the following topics, all also worthy of discussion, but unrelated except in having something to do with Topstep:
- The original subject, a simple change of procedure affecting a limited number of traders
- Whether Topstep pays people or not
- An old thread started by a TS trader who was not paid
- Discussion by @Topstep of an old rule that may have been involved at the time of that thread
- A question about why Topstep treats mini and micro contracts the same for purposes of how many contracts traders are permitted to use.
Given enough time, it will probably get some more. Someone will see "Topstep" in the thread title and will ask their own present question.
This is basically exactly how a forum can get fragmented and how topics of interest can get so spread around that they cannot be found by people who care about them or followed as they should.
Not really anyone's fault, but there is a thread already for general Topstep discussions, here:
Michael Patak, the Founder of TopstepTrader, will be monitoring this thread so that he may answer any questions that you post here relating to TST products and services.
Please keep in mind that some customer service/technical support issues are best …
In the nature of these things, there will always be other threads that touch on related topics, but we try to keep the forum at least minimally organized. It it much more useable that way.
I would ask @Topstep to be cautious in starting new threads instead of simply making a post in the existing main thread. We can see what is likely to happen as discussions multiply beyond their original topic.
While there is nothing really wrong with this thread other than the fragmentation, that's enough. I am closing this thread to eliminate the split topics.
If someone didn't get their question answered, or wanted to continue to discuss it, please just use the main thread linked to above and restate it.
That thread is also the best place to repost the original announcement.
Thanks.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
