There are a few reasons why traders may want to test a funded trader program. Whether it’s for aggressive trading, a lack of confidence, or if you are looking to leverage an opportunity.
Apex Trader Funding is one of the most popular options for funded trader testing. It offers a variety of account sizes with different profit targets. Read this post to get clarity about Topstep vs Apex Trader Funding.
Getting a funded account
If you are a new trader or an experienced one looking to build up your capital, funded trading programs provide you with a way to quickly gain access to funding. These programs offer a low subscription fee and limit your risk factor to just a few points per trade.
Topstep Trader is a popular funded trading firm that offers futures contracts and forex pairs. They have 14 platforms, extensive educational materials and three types of funded accounts.
They also have a free trial. Their revenue share is favorable, and they have a large number of users.
To qualify for a funded account, you have to meet certain profit targets, trade a minimal amount of days and adhere to risk rules. These requirements include a consistency target, which states that you must keep your best day profits below 40% of your total profits.
Resetting an evaluation account
When you have failed an evaluation account at Topstep or Apex Trader Funding, you can reset it. You get the exact account size with a new account balance, profit target and all features.
This feature is available at a cost of $80 for an account with a Swing Trading Combine and $99. It comes with the same profit targets, trailing maximum drawdown and daily loss limit.
The resetting process is not as simple as it seems, however. You will need to meet certain requirements, which include a minimum number of trading days and consistency rules. These are all outlined on the company’s website.
Challenge prices
Topstep is the first funded trading program to hit the scene in 2012, and it has since grown into one of the fastest growing companies in the USA. The company has created the quickest and most efficient funding trading program in the industry, often offering fully-funded accounts in as little as eight days.
To get funded, traders must meet several requirements including a pre-determined profit target and trade for a minimum of five days. They also have to be able to demonstrate they can manage risk appropriately and make the most of their capital with an appropriate trading plan. The challenge is to show that you can do it all without violating any primary rules.
Profit sharing
Unlike other trading brokers, Topstep offers a generous share of profits to registered users. In 2021, registered users withdrew over $3 million in profit shares.
Traders can receive up to 50% of their account balance after five successful trading days (when a day’s net P&L is $100 or more). You must continue trading for a further five winning days before you can request a payout again.
To get a funded account, you must complete a two-step evaluation process that focuses on your skill and qualification requirements. This is an extra step vs competitors such as Earn2Trade and FTMO, but it’s a smart way to ensure you only receive a funded profile when you are truly ready to trade professionally.
You can also test Topstep’s platform features risk-free with a 14-day trial. This is a valuable advantage vs OneUp Trader and allows you to test strategies, products, and platforms without affecting your evaluation.
If you’re new to forex trading or a professional trader, trading skills can always be strengthened.
Trading on the forex market can be beneficial, but the odds are against you, and more so if you don’t plan and schedule your trades.
