(Newswire.net — May 18, 2023) —
The best forex trading platform makes it simple to trade in foreign currencies from anywhere. However, identifying the best trading platform and researching more information about the platform is no easy task.
For convenience, Traders Union expert reviewed Topstep, one of the best trading platforms to help beginners and seasoned traders learn more features and tools the platform offers, how to trade on it, and what it costs.
Traders Union made Topstep Profile guide, which will help you learn about the firm, its team, customer base, legal entities, products, and services.
Topstep general information
Topstep has been a futures prop trading company since its inception in 2012. This proprietary trade company, formerly known as TopstepTrader, is based in Chicago, Illinois, USA. It has supported traders from over 160 countries, with whom it has distributed tens of millions of dollars in profits.
Michael Patak formed Topstep after recognizing a gap in the business due to his evaluation experience. He believes that before trading with real money, traders are more likely to succeed if they can analyze and enhance their strategies, build risk management skills, and feel secure. Topstep has been following this exact technique since 2012.
Enterprise History and Synopsis
Topstep Company Profile
Michael Patak, a former floor trader for the Dow Jones pit at the Chicago Board of Trade, designed Topstep. After squandering many retail brokerage accounts, Michael decided to retrace his steps and focus on honing his skills. He was allowed to work for a Chicago-based proprietary trading firm for six months, where he was evaluated using a trading simulator. This experience, he believes, was crucial to his subsequent trading success.
Awards
Traders Union investigations reveal that Topstep has won several awards, including the following:
· 2016’s 101 Best and Brightest Places to Work;
· Finalist in the Chicago Innovation Awards in 2016;
· FIA (Futures Industry Association) Innovator in 2016;
· 2017- Inc. Magazine ranked Topstep number one and 261 on its 36th annual Inc. 5000;
· In 2015, Michael Patak, Founder, and CEO, was a semifinalist. In 2016, he was a finalist for the Ernst & Young Entrepreneur of the Year award.
CNBC, Forbes, Fox Business, Market Watch, and Barron’s have highlighted Topstep. Although the company is proud of its achievements, it has always focused on the future.
Customer Base
Topstep has customers from all around the world, including the United States, Canada, and others. However, regions on OFAC’s Sanctioned Countries list cannot trade on Topstep’s platform.
Legal entities and regulations.
According to Traders Union, the investigation yielded no information about the company’s policies or licensing. The company is exempt from US financial rules.
Overview of Topstep products
Topstep’s Combine (a subset of CMR or Chicago Mercantile Exchange) allows you to trade the following Future products:
· CME Equity Futures
· CME Foreign Exchange Futures
· CME Agricultural Futures
· CME NYMEX Futures
· CME CBOT Agricultural Futures
· CME CBOT Equity Futures
· CME CBOT Interest Rate/ Financial Futures
· CME COMEX Futures
Topstep Services
Trading platform
Traders Union also revealed some of the trading platforms that Topstep provides. This includes;
· Trader on TS: It works with all mobile devices and has no platform costs. The commission in the funded account is USD 0.79 per contract.
· Ninja Trader: This platform is Windows-compatible, with no platform cost in SIM and discounts in funded accounts. In the financed account, the commission is USD 0.53 per contract.
· Trading Point: It is compatible with all mobile devices and offers paid and free options. The commission in the funded account is USD 0.79 per contract.
Bookmap X-Ray, CTS, Daytradr, Investor RT, MotiveWave, Multicharts, Order Flow Trading, R Trader Pro, Sierra Chat, Trade Navigator, and Volfix.net are some of the other systems available.
Trading Combine
The Trading Combine is a futures trading curriculum emphasizing evaluation and experiential learning.
Funding account
The new Express Funded Account allows you to profit from trading without additional fees. With this account, you may earn in two working days while assisting Topstep in improved risk management.