TopStepTrader has been around for a while now, however, it has more recently found a form of new popularity and suddenly everyone is talking about it! Perhaps you are wondering what all of the fuss is about or maybe you are interested in learning how to day trade and make big money. No matter what you’re reading this article for, it is always great to know that TopStepTrader is one of the best platforms around right now for aspiring day traders with low capital and you can check out a TopStepTrader review here to ensure you’re making the best-educated decision.
TopStepTrader was founded by Michael Patak in 2012 and since then it has been named many times as one of America’s 5,000 Fastest Growing Companies. Essentially, you are able to create an account and compete within simulations to be the best. The best bit is, traders who qualify are able to receive a chance at being promoted to the status of funded trader. This means that they will be able to actively day trade with the firm’s money.
You may be wondering why it is so popular and you may also want to find out about the things you need to know before you get involved. Well, keep reading and while you’re at it, check out this great Axos Bank review as well!
The features of TopStepTrader
TopStepTrader has plenty of great features that will satisfy the needs of most people, however, this one is for those that want a little bit more of an in-depth look into the great features offered to them. All of these features will ensure that day traders will have all of the tools they need to not only improve their day trading skills but also to turn them into a solid profession. Let’s take a look!
One of the best features that TopStepTrader offers is a thriving, helpful, and generous community. There is an amazing and efficient interactive chat room that helps tremendously when it comes to community support which is something that many other platforms severely lack. Users can ask questions with ease and both simulation users, as well as funded traders, are happy to answer any questions.
No-fee Trading Platform
TopStepTrader supports around 13 different platforms, however, the most beginner-friendly of them all is most definitely TSTrader. It comes with absolutely no fees (not even hidden ones) and includes all of the basic charts needed to manage your day trading career efficiently. In saying this, it does lack many things which can make it slightly unfavourable for more experienced traders, though it really is perfect for beginners who are just getting comfortable with it.
Education and Coaching
One thing that is incredibly attractive for many people involved with TopStepTrader is the fact that it has an intense and unbreakable commitment to education and coaching. This enables not only beginners but also veterans to be able to learn the new and hot tips and tricks to significantly increase their profitability. Some of the coaching options are free, however, users with more capital are able to invest in personalized performance coaching sessions.
The primary education offerings included are:
- The ability to watch professionals trade in real-time
- Daily live trading classes
- Lessons on important trading psychology
All of the classes are aimed at different levels so that everyone is included, and high marks are given for clear progression paths on offer to account holders.
The pros and cons of TopStepTrader
As with everything, there are pros and cons to consider. These are not created to sway your choice, but more so to make it slightly easier for you to decide if this is right for you. Let’s take a look!
- Large and solid range of educational tools as well as live classes
- Not much capital is needed to begin your journey
- There is significant and helpful support available for popular trading platforms
- High membership fees
- It is highly unlikely to become a funded trader
Is it right for you?
TopStepTrader is a very legitimate and trusted platform and it can be great for testing out your skills before committing to too much that may become hard to handle. The great amount of educational content is enough to help your skills skyrocket and it is handy to know that you will be growing as opposed to just spending time on something without growth. Monthly fees can become expensive over time, so make sure that at first you only commit to 1-2 months to ensure that it is the best decision for you.