Reviews on Top Prop Firms

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Founded on October 18, 2021, in Delaware, USA, TopTier Trader is a recent addition to the proprietary trading scene. They empower undercapitalized traders with funding opportunities of up to $600,000 and a profit split ranging from 80% to 90%.

Account choices from $25,000 to $300,000 on MetaTrader 4 (MT4).
Registration and initial fee required ($255 to $1,399).
Two-level challenge lasting 40 to 70 days, aiming for 5%, 8%, or 10% profit.
Important factors: maximum drawdown, daily drawdown, minimum trading days.
Leverage up to 1:100 depending on trading instrument.
Successful challenge completion grants a partner account with the desired balance.
Initial fee is refundable.
Profit split: 80% initially, then 90%.
No specific profit target; focus on drawdown.
Lucrative affiliate program with up to 20% referral fee on initial fees

TopTier Trader doesn’t reinvent the wheel, and that’s not necessarily a negative. Instead, they stick to industry standards that work effectively. From their challenge program to their scaling plan, TopTier Trader follows established practices. One noteworthy aspect is the opportunity for quarterly capital reviews, allowing traders the potential for increased capital four times a year, provided they maintain consistent performance.

Traders at TopTier Trader can request a review of their trading results every three months. To be eligible, you must have sustained a monthly profit of at least 6% over the preceding three months. It’s worth noting that while some other prop firms, like FundYourFX, automatically scale your account by 50% with a 10% profit, TopTier Trader adds 25% to your account. While this may not be as generous as some competitors, it’s still a decent incentive.

There are a couple of key points to keep in mind. First, there’s an inactivity rule. If you fail to log into your TopTier Challenge Regular or TopTier Challenge Swing account within 14 days from the date of issuance by the broker, the account will be automatically terminated, requiring you to redo the challenge. Additionally, it’s important to note that TopTier Trader offers only demo accounts for its users. Even after becoming a funded trader, you’ll have access to a demo account with virtual money.

In summary, TopTier Trader stands out as a legitimate and versatile proprietary trading firm, presenting traders with a choice between two distinctive funding programs: TopTier Challenge and TopTier Challenge Plus evaluation accounts.

– TopTier Challenge Evaluation Programs:
– Follows the industry-standard two-phase evaluation with realistic profit targets of 10% in Phase 1 and 5% in Phase 2.
– Adheres to reasonable trading objectives with a 5% maximum daily and 10% maximum loss.
– Offers competitive 80% profit splits, providing room for account scalability.

– TopTier Challenge Plus Evaluation Programs:
– Also features an industry-standard two-phase evaluation, requiring success in Phase 1 with an 8% profit target and Phase 2 with a 5% profit target.
– Maintains realistic trading objectives with a 5% maximum daily and 8% maximum loss.
– Rewards traders with an impressive profit split range of 80% up to 90%, coupled with the ability to scale accounts.

TopTier Trader may not offer groundbreaking features, but it provides a reliable option for proprietary trading. While there are other prop firms in the market, TopTier Trader holds its own by adhering to industry standards and offering traders the potential for quarterly capital increases. It’s one of the many options available to traders, and its straightforward approach can be appealing to those seeking stability in their trading endeavors.

In my recommendation, TopTier Trader is an excellent choice for those seeking a prop firm with clear and straightforward trading rules. As a well-established proprietary trading firm, it provides favorable conditions for a diverse pool of individuals with unique trading styles. After a comprehensive evaluation of TopTier Trader’s offerings, it undoubtedly stands out as one of the better proprietary trading firms in the industry.

Three account groups, each with four balance options
Advisors are not allowed for partners
Traders receive 80% of net profit from day one, increasing to 90%
A variety of trading instruments available
Favorable drawdown limits: 5% daily and 10% total
Trading on MetaTrader 4, including a mobile version
Multiple support channels: call center, live chat, email, and Discord
The challenge is designed for accessibility, not requiring extensive trading experience.

No balance scaling available on Regular accounts
Exclusive use of MetaTrader 4, not accommodating other platforms
Frequent contests held by the prop firm, but high competition hinders less experienced traders from winning prizes.