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Welcome to the Topstepfx review. Topstepfx aka TopstepTrader are clearly two websites owned by the same people and doing the same job of “funding traders”.
In their sales page, TopstepFX website proclaims that they can fund traders with up to $500,000 in buying power.
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There are “reviews and testimonials” everywhere on the internet about these guys funding many traders.
Of course reviews and endorsement from websites like TrustPilot are not to be trusted because Trustpilot is the Mecca of fake reviews.
Apparently, this company, Topstepfx has posted snippets all over its website where they captured the fake reviews of their supposed customers who are “happy” with their “funding program”.
Now, to qualify for “funding”, one needs to jump through hoops and hurdles in the name of a trading combine.
The trading combine is a two step “evaluation process” where candidates are required to reach a profit target within the confines of certain risk parameters.
Usually this kind of thing is done by frauds and phonies who do not have a working trading system in place.
They are usually looking to cash in on the greed of the financially naive, who believe they will get funding to the tune of a specific amount of dollar.
The fraudulent funding scheme is meant to charge monthly subscription fees where traders pay to join and to trade on a simulator, just like Blufx does.
TopstepFX is actually charging $125 monthly to “qualify” candidates for a $200K account.
The company is also charging $165 monthly if candidates want to qualify for a $300K account.
Last but not least, these guys charge $275 to qualify for their $500K funded account.
Note: You can start small and compound your equity using these trading and investing solutions instead of relying on “funded account programs”.
Is TopStepFX aka TopstepTrader Legit?
Let’s be clear. There are many failed and struggling traders out there.
This category of traders are almost always the under-funded ones.
This is a huge market for fraudsters who can easily take advantage of the opportunity through fraudulent account funding programs.
After all, if you pay X amount of money, you can get funding of up to Y amount of money where profit split will easily make you a handsome check at the end of every month.
Companies like TopstepFX even claim they successfully funded 1764 traders in 2019.
Obviously there is no way to verify these statistics. Sadly, the financially desperate tend to believe these figures.
The company is even claiming to provide education and support to its traders.
They claim that candidates can keep $5000 in the first month and 80% of profit thereafter.
However, if you look at TopstepFX conditions that must be met for one to “qualify for funding”, you realize that they are unrealistic and impossible to achieve.
Even the smartest asset managers in the world cannot meet the standards that have been set by TopstepFX.
So what makes you think you will pass the impossible trading combine?
Truth is, nobody has ever qualified for Topstepfx account funding. The phony stats which they use in their promotion materials are too misleading.
Before you believe this bullshit, ask yourself why the owners of this company are not able to trade for themselves and why they have a “lot of money” which they are “willing to give other traders”.
They always say that when the deal is too sweet, think again.
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We do trade for ourselves. We also provide an opportunity to learn in a safe environment and earn a funded account. That never existed when I started and I lost 3 $30k love money accounts. You always have the option like I do to go risk your own capital live in a brokerage account but as you mentioned the failure rate is quite high and it really sucks losing all your money while you learn how to trade consistently with discipline and profitably. That said we funded over 3,000 accounts not 1700 this year and paid out over $1,000,000 to funded traders that requested a withdrawal (not everyone requests a withdrawal from their account). Lastly, we are transparent with our numbers, we have a direct phone line to our support team and have an office at 130 S Jefferson st in downtown Chicago. Nothing to hide. Just try play a role in helping traders while we also are traders ourselves. Let try not to be to hard on us. 😉