Becoming a trader is a real challenge; most people who start the journey lose their money; some move away while others keep trying. But it is still true that the possibility of earning a significant amount of money through good financial actions is viable.
For others, with the skill, the problem lies in having the funds to go for more. Michael Patak is the founder of TopstepTrader, a platform dedicated to experienced and established traders. The purpose of this platform is to equip funded accounts with people capable of generating good profits.
How Does It Work
It sounds terrific to make money with borrowed funds, but it is not as simple as it sounds. First, you have to be eligible for a funded account, which means you can prove that you can generate profits through a simulated account.
TopstepTrader offers you as a subscriber a simulated account in which there are certain parameters or standards to meet. You will be faced with the challenge of having different balances, position limits, minimum daily limits of gains and losses, among other things.
You need to take this part very seriously, as most of those who apply do not surpass this stage. Also, the size of your success in this part of the process determines your account’s size.
How They Earn Money
The simulated accounts merit a subscription. After you have qualified for the financed account, you will have to pay a specific amount proportional to the amount of money that this platform has placed in your hands.
The minimum initial balance is $ 30000 to invest, and you will have to pay $ 150 monthly to be able to use them, while the highest financed account has an initial balance of $ 150,000, in exchange for a monthly payment of $ 375.
Although it seems hard to believe, this is the main income source for this online company, but the need to have qualified staff spare no effort.
Therefore, they have a robust financial education structure, including editorial articles, videos, and podcasts.
You are not condemned to use a single trading platform to make them happy. In fact, during the simulation period, you can use one of the ones on your list. Still, you will notice that you will almost be forced to use their proprietary software, TSTrader, which is free of fees and fees during the simulation process during the simulation.
This software includes several practical stock trading tools, such as tracing up and down trends, tracking profits, among other useful elements. Even a “replay” function, where you can go back and observe your movements from the previous simulation, becomes especially valuable because you already know your movements’ result, allowing you to quickly learn from your successes and mistakes.
The Supported Platforms Are:
- NinjaTrader 8
- NinjaTrader 7
- Jigsaw daytrader
- Sierra Chart
- T4 (CTS)
- Investor / RT
- ATAS (Order Flow Trading)
- Bookmap X-RAY
- Trade Navigator
- R | Trader Pro
Why Choose Them
There are the reasons that they themselves indicate as valid to decide for their services:
- Promises fulfilled – Funded 1,020 accounts only in 2018.
- No commission option in the Founded Account.
- Free access to the platform.
- Courtesy access to a team of experienced performance coaches.
- Withdraw your winnings at any time, without minimums or account thresholds.
- Executive team with commercial experience in CME.
- Renowned support team.
- A strong community of merchants in 161 countries at any time.
- Recommended by more than 100 commercial suppliers.
- 97% satisfaction of the merchant financed.
Besides, they have appeared in important magazines and programs of the financial sector, such as Forbes, BARRON’S, CNBC, FOX Business, among others. They are also among the 100 finalists of the Chicago Innovation Awards and the 2016 FIA innovator.
At the End
It is a growing platform, which is very hard in terms of the requirements required to qualify with a funded account, but you could not expect less if you will trust a minimum of $ 30,000 in a stranger. They compliment your support with a financial education that trains you as a better trader.
They have been winners or finalists of different awards that rank them as one of the best places to work in Chicago in recent years. It is the perfect opportunity for traders with little or no capital to earn money they can earn, provided that they can show that you can generate the profits they expect.Visit TopstepTrader