How to Become a funded trader explained by Traders Union Experts

Topstep, one of the world’s largest prop trading firms for FX traders, has sponsored several traders with over $10,000,000 in trading capital in recent years. This has been made feasible through an industry-leading scaling program explicitly designed for profitable traders.

Traders Union experts investigated Topstep and told how to get funded with Topstep.

What is Topstep?

Topstep is a financial trading organization providing various services to traders and investors. One of their key services is to provide funding to traders who have passed their review procedure and have demonstrated a track record of consistent profitability.

The Topstep Funded Account Program is a series of simulated trading tests designed to measure a trader’s skill, risk management, and overall trading strategy.

How do you become a funded trader?

Follow the instructions below to register as a funded trader to receive the Topstep Funded Account program:

Ø  Click the “Earn Fund” link at the top webpage of Topstep

Ø  After creating an account, you can start the evaluation by taking the Topstep Challenge.

Ø  Choose the Account Size.

Ø  Step 1 and Step 2 comprise the Topstep Challenge’s two sections. The first step is a test of simulated trading in which you will transact in a real-world market setting. To proceed to Step 2, you must pass performance and risk evaluations.

Ø  In Step 2, you will engage in a funded trading assessment where Topstep will supply the real money. To be eligible for funding, you must pass a performance, risk, and psychological assessment.

Ø  After you have finished Step 2, Topstep will assess your application and let you know if you have been granted funding.

Ø  If accepted, you will receive a funded trading account with real money to trade with and be eligible to take advantage of Topstep-funded trader benefits.

Note: Avoid doing the following throughout the procedure:

·      Hit the daily loss cap.

·      Allow the balance of the account to go over the Trailing Drawdown cap.

Duration to become a funded trader?

The duration of the Topstep-funded program varies according to an individual’s performance during the evaluation process, emphasize Traders Union.

Ø  Step 1 is a simulated trading evaluation that usually takes 7-14 days.

Ø  The second step is a funded trading assessment, which usually takes 14-28 days. After completing Step 2, Topstep will analyze your application and notify you if you have been approved for funding.

It is critical to highlight that the rigorous evaluation process and the standards are high; only a few candidates will be funded. It is also possible to fail the review process at any step; if this occurs, traders can reapply once their trading skills and methods have improved.

The time it takes to become a funded trader with Topstep varies; however, it usually takes between 4 and 6 weeks.

Topstep audition review

The Topstep-funded trading procedure, also known as the audition, is the evaluation process that traders must go through to become Topstep-funded traders. The audition procedure is divided into two steps: Step 1 and Step 2.

Step 1 aims to assess the trader’s capacity to produce lucrative deals while successfully and consistently controlling risk. Step 2 aims to assess a trader’s capacity to trade with real money and deal with the psychological pressures that come with it.

Topstep will examine traders who complete stages 1 and 2 and notify them if they are funded. The audition procedure is demanding, with high expectations. On the other hand, those who pass the evaluation process can become funded traders with Topstep, which can provide access to funds, education, and assistance to help them advance their trading careers.

How much can I attract as a funded trader?

The quantity of capital you can attract as a funded trader with Topstep depends on your success during the review process told Traders Union experts. Topstep’s capital is termed “buying power,” It is used to trade using a live account. Topstep determines the amount of buying power a trader is approved for based on their performance during the review process, including their risk management and overall trading strategy.

The following are the most prominent Topstep Funded Trading Accounts:

Ø  The first program is aimed at traders who have demonstrated their ability to trade profitably consistently, manage risk properly, and pass the evaluation procedure. Traders are permitted a maximum of $50,000 in purchasing power. This is the most widely used plan.

Ø  The Topstep-funded program is intended for traders who have demonstrated their ability to trade profitably and consistently manage risk efficiently and are searching for larger cash to trade with. Traders are permitted a maximum of $100,000 in purchasing power.

Ø  The following program is meant for traders searching for even more significant capital to trade with who have a good track record of trading profitably and consistently managing risk. Traders have been authorized for up to $150,000 in purchasing power.