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  • #42,761
  • Oct 1, 2024 3:31am Oct 1, 2024 3:31am
Quoting acetrader
{quote} Hi pipmaster77, I just read this post & want to know what your views are on using TopStep & not the TopStepX? I have been entertaining the idea of opening a TopsTepX challenge, but after talking with several other traders that are saying the same thing as in your post, I have decided against TopStepX. I agree there is no free lunch. I don't mind paying the commissions. Thank you for your views on TopStep without the X.
I checked out TopStepX due to to the fact it allowed increased daily drawdown but was turned off by the fact it is “Powered by Plus500”, a LSE listed London based CFD company. I didn’t think the CFD thing was a go in the US?
  • #42,762
  • Oct 1, 2024 4:16am Oct 1, 2024 4:16am
Quoting pipmaster77
{quote} Same reason I will not use Topstep with their new TopX or whatever platform......I know everyone is sim (atleast initially), but the no commission just screams fake feed, plus their own platform plus rumor has it they are not actually futures contracts but CFDs. I want good 'ole fashion rithmic on quantower and yes I want to pay commission.
I currently use TopstepX platform and there's commission on all orders
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  • #42,763
  • Oct 1, 2024 4:21am Oct 1, 2024 4:21am
Quoting DwnUndrTrdr
{quote} I checked out TopStepX due to to the fact it allowed increased daily drawdown but was turned off by the fact it is “Powered by Plus500”, a LSE listed London based CFD company. I didn’t think the CFD thing was a go in the US?
I think pipmaster is correct in his above statement & that same information has been backed up by two other trader friends that are in the futures market daily.
I'm going to forget the TopStepX, but still have interest in a challenge with TopStep. Thank you for sharing that info. Best of trades to you.
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  • #42,764
  • Oct 1, 2024 4:29am Oct 1, 2024 4:29am
Quoting Evasparkling
{quote} I currently use TopstepX platform and there's commission on all orders {image}
Hi Evasparkiling,

Thats interesting to hear that. What about exchange fees? What else can you share about TopStepX? How long have you had the challenge?
I was going to purchase a challenge until I started hearing what pipmaster77 posted a few posts back. May still go with TopStep, but not the X. Looking forward to hearing about your experience so far with that platform. What is your R/T cost per trade? Thank you for sharing. Best of trades to you.
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  • #42,765
  • Oct 1, 2024 5:27am Oct 1, 2024 5:27am
Quoting acetrader
{quote} Hi Evasparkiling, Thats interesting to hear that. What about exchange fees? What else can you share about TopStepX? How long have you had the challenge? I was going to purchase a challenge until I started hearing what pipmaster77 posted a few posts back. May still go with TopStep, but not the X. Looking forward to hearing about your experience so far with that platform. What is your R/T cost per trade? Thank you for sharing. Best of trades to you. ______________________________________________________________________________________________________________...
What about exchange fees?
I don’t know what exchange fees are. The only fees I’m charged when I open and close an order is commission.

What is your R/T cost per trade?
Your R/T cost per trade is going to vary depending on the instruments and how many contracts you’re trading.
Depending on how confident I’m on the trade setup sometimes I open 2 contracts, 3 contracts or 5 contracts.
The R/T cost per trade isn’t a factor in my trading since I’m not a scalper.

Overall Impression:
(I) I’m happy with the EOD drawdown.
(II) I’m also happy with the breakeven button. I’m always looking for runners. Once I’m in a trade and in profit, I move my stop to breakeven and see if I can get a home run. I’m still experimenting with it. With Ninja Trader, I can move to breakeven + 1 but with TopstepX I still haven’t figured out how to move to breakeven +1.
(III) No consistency rule in funded accounts.
(IV) You only need 5 winning trading days (doesn’t need to be consecutive) of $200 or more to withdraw your profits once you pass the buffer zone in funded accounts.

You’re better off going with the TopstepX platform compared to NinjaTrader/Tradovate when using Topstep:
Using TopstepX no daily drawdown. With NinjaTrader/Tradovate there’s a $1000 daily drawdown
Using TopstepX you can open as much 10+ micro contracts once you’re funded. With NinjaTrader/Tradovate you’re only allowed maximum of 5 open contracts {I think you're initially allowed max of 2 open contracts once funded and it scales from there as you make profits}
  • #42,766
  • Oct 1, 2024 6:05am Oct 1, 2024 6:05am
Quoting failinforex
I am impressed. 5 minutes approval. {image} Do they hang around here?
I would think the smart firms have some eyes in here.
  • #42,767
  • Oct 1, 2024 6:08am Oct 1, 2024 6:08am
Quoting DwnUndrTrdr
{quote} I checked out TopStepX due to to the fact it allowed increased daily drawdown but was turned off by the fact it is “Powered by Plus500”, a LSE listed London based CFD company. I didn’t think the CFD thing was a go in the US?
It's not OK in the US. IMO, it is what started the collapse of the forex props.
  • #42,768
  • Oct 1, 2024 6:35am Oct 1, 2024 6:35am
Quoting pipmaster77
{quote} It's not OK in the US. IMO, it is what started the collapse of the forex props.
Top step & Alpha futures are flying close to the sun with their proprietary fake futures platforms offering CFDs in disguise to US citizens.
  • #42,769
  • Oct 1, 2024 7:01am Oct 1, 2024 7:01am
October deals

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  • #42,770
  • Oct 1, 2024 7:07am Oct 1, 2024 7:07am
Quoting CableJ
{quote} Top step & Alpha futures are flying close to the sun with their proprietary fake futures platforms offering CFDs in disguise to US citizens.
Yes, Alpha makes sense as it's just a clown from the forex space, Topstep kind of shocks me a bit.
  • #42,771
  • Oct 1, 2024 7:57am Oct 1, 2024 7:57am
Quoting pipmaster77
Topstep kind of shocks me a bit.
Only because you’re being fed gross misinformation about it, in this thread (as many people are, about a wide range of specific points, by a few members here who know very little and understand even less, but still want to try to sound as if they actually know what they’re talking about, rather than having the humility ever to use the words "Sorry, I was mistaken").

To clarify - yet again - one of the objective, easily verifiable facts I’ve been stating here for so long: no futures funding company can possibly pretend to have a funded trader on a live CME account when they're not, because it takes anyone with a working brain cell or two only half a second to verify whether their orders are actually live on CME’s DoM.

Either they are, or they're not. It's not "opinion." It's verifiable, objective and factual.
  • #42,772
  • Oct 1, 2024 8:14am Oct 1, 2024 8:14am
Quoting pipmaster77
This is where the long term benefits of Darwin kick in. Beginning the month with score of 78.17.....2% this month (which I've done every month) will get me 75K this month. 30K from first month would drop off, but I'll trade 135K in November. {image}
What do the payouts look like so far?
Trade with confidence, trade without fear.
  • #42,773
  • Edited 8:56am Oct 1, 2024 8:34am | Edited 8:56am
Quoting Quickly
no futures funding company can possibly pretend to have a funded trader on a live CME account when they're not
In fact they can pretend and they pretend that every day. It's up to us to believe in that lie or understand that we're playing a videogame.

Anyway, anyone who already opened real futures accounts in real brokers can easily understand what stuff they are dealing with (real or fake), even before placing his first order and/or auditing that order in the exchange.
  • #42,774
  • Oct 1, 2024 8:40am Oct 1, 2024 8:40am
Quoting Quickly
{quote} Only because you’re being fed gross misinformation about it, in this thread (as many people are, about a wide range of specific points, by a few members here who know very little and understand even less, but still want to try to sound as if they actually know what they’re talking about, rather than having the humility ever to use the words "Sorry, I was mistaken"). To clarify - yet again - one of the objective, easily verifiable facts I’ve been stating here for so long: no futures funding company can possibly pretend to have a funded trader...
I personally don't care as long as I get paid. I have a personal futures account and I trade Darwinex. My point was simply I am shocked that Topstep, the oldest of the futures props, would offer something that could potentially bring unwanted attention to them.
Do you just prowl this thread, just waiting for your opportunity to state the same obvious thing over and over. I'm just curious as I am sure you could find better use of your time. Ironically, your buddy always responds within 10 minutes as well.......waiting, waiting, any minute now
  • #42,775
  • Oct 1, 2024 9:01am Oct 1, 2024 9:01am
Quoting Capablanca
{quote} Having a disclosed consistency rule is much more honest because trader knows what he is obliged to. And a rule of 20% in a single day, for example, is really a potent thing to keep gamblers away and can almost eliminates all other rules like news rules and others. I think it would make life easier for props and more transparent for traders. Swing traders would heve to be address, I guess (which they aren't these days, anyway). Reason why they don't implement such a rule is because they need the gamblers to keep business alive.

The only problem is that if they implement, let's say, a limit of 10% a day, gamblers would make around 9% and still don't brake any rules. Then eventually props will reduce this % to a level where also swing traders will be affected. It's a sophisticated but doable topic.
  • #42,776
  • Oct 1, 2024 9:11am Oct 1, 2024 9:11am
Quoting Evasparkling
{quote} What about exchange fees? I don’t know what exchange fees are. The only fees I’m charged when I open and close an order is commission. What is your R/T cost per trade? Your R/T cost per trade is going to vary depending on the instruments and how many contracts you’re trading. Depending on how confident I’m on the trade setup sometimes I open 2 contracts, 3 contracts or 5 contracts. The R/T cost per trade isn’t a factor in my trading since I’m not a scalper. Overall Impression: (I) I’m happy with the EOD drawdown. (II) I’m also happy with...

Thank you for your very informative response.
  • #42,777
  • Oct 1, 2024 9:20am Oct 1, 2024 9:20am
Quoting failinforex
{quote} it is via Plane to my Revolut account. Will update when money arrived
with E8 i get paid via plane to Bank account, E8 typically approve within the hr but money actually hits my bank account about a week after, I've never really established if this length of time is due to E8 or plane. Interested to see how long it takes for you. Normally in your plane account it'll tell you when the money will be sent to your bank.
  • #42,778
  • Oct 1, 2024 9:25am Oct 1, 2024 9:25am
Quoting Cryptosurf
{quote} What do the payouts look like so far?
Small so far. I am averaging 2-2.5% per month......1st month was on 30K, 2nd on 60K, this month will be on 90K. Payout is quaterly, so my first payout will be around $700. I pay $43/month, which is $5 more for the futures feed.
I took this on as a long-term endeavor, so if I can pocket a couple hundred per month above the subscription, I'm good. They say they are looking for 2-2.5% per month, so I will do my part and hopefully, if everything they works the way they explain, I should have $10 million AUM within 12-18 months.
I already see the evidence of how your cumulative return makes it easier every month. I am starting this month already qualified for the minimum 30K, but if I do my normal 2%, it will be an additional 75K, 3% says I will be the top dog and get $375K.
I'm just doing what they are saying I need to do.
  • #42,779
  • Edited 10:41am Oct 1, 2024 10:19am | Edited 10:41am
Quoting rizla101
{quote} with E8 i get paid via plane to Bank account, E8 typically approve within the hr but money actually hits my bank account about a week after, I've never really established if this length of time is due to E8 or plane. Interested to see how long it takes for you. Normally in your plane account it'll tell you when the money will be sent to your bank.
would you put E8 next to FTMO and 5ers ?
From what I have seen , it deserves that ranking

How big is your account ?
  • #42,780
  • Oct 1, 2024 11:08am Oct 1, 2024 11:08am
Quoting Stoneyrocks
{quote} would you put E8 next to FTMO and 5ers ? From what I have seen , it deserves that ranking How big is your account ?
I would say yes. And City Traders Imperium as well. Long history, reputable and low % of 1 stars in trust pilot.
Each one has their own weak points but these days we're already happy if they pay without causing troubles.
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