TopstepTrader Review: A Scam That is Akin To Gambling

TopstepTrader Review: A Scam That is Akin To Gambling

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You’ll be glad that you read this piece of gossip. It’s about a certain Forex trading company by the name TopstepTrader.

TopstepTrader has actually been labeled as a ”hamster wheel” by a very senior source in the industry. And for some reasons, we believe that this is the perfect description for the kind of business they do on the internet.

Now, for starters who don’t know what it is, TopstepTrader is an illegitimate prop trading company where naive investors pay hundreds of dollars each month, chasing an increasingly elusive prize.

The worst thing is that TopstepTrader offers nothing more than an opportunity to trade on a simulator. You’re basically paying to play a video game, huh.

So, what’s the idea behind this? To answer this question, we’d need to delve into what TopstepTrader is and what they are currently doing wrong as far as trading is concerned.

TopstepTrader Overview: A bad idea for those who want to make money trading Forex

This company alleges that it will pay a prize to any trader who escapes the hamster wheel a live.

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Essentially, the winning trader must meet certain minimum requirements in something they call ”The Combine”.

topstep trader scam

Now, if this trader passes ”the combine” challenge, they are awarded a token in their trading account.

You’d think that we are mocking them by using the word ”token”. But this isn’t the case. Actually, a few traders do pass ”the combine”.

However, when that token is finally awarded in form of a funded account, the price becomes a drop in the ocean. It’s so small that it usually disappears faster than a hungry dog can eat up a piece of barbecue meat.

Topstep Trader scam

You see, this trading program is a gimmick and a fraud at best. Topstep Trader is always looking for novices and naive investors with no trading accounts.

And the game is quite simple. You need a credit card loaded with money to fund your way to the trading simulator.

Once you have paid hundreds of dollars, you will soon get caught up in a perpetual cycle of failures.

So, what’s the reason why you stick around even though it’s clear that you’re losing money with this TopstepTrader program?

Well, you’re hoping to win the ultimate prize. So you keep spending even more because you’re chasing an increasingly elusive prize.

Even thought it’s true that some folks do win some money in form of funded Forex accounts, the truth is that this money is always so tiny that it isn’t worth your investments.

The second truth is that the wins are far in between. It’s like playing the lottery. So yes, someone will win. However, that person won’t be you.

This gambling actually goes on and on while encouraging traders to keep playing the game.

And when someone actually wins, TopstepTrader (same service as Topstepfx)sets up a huge marketing campaign to try spreading the gospel out there. This is obviously meant to lure in more victims who will quickly sign up without giving it a second thought.

So, what’s the failure rate of this program?

It’s easy to tap into the mood of traders when you run a blog like this. First things first, traders always come to us if they are not sure of a product. This gives us a chance to review it so that we can publish our opinion on the same.

Our opinion is of course not biased unlike the hordes of affiliate marketers who clearly promote Topstep Trader because they want to make money off the program.

Therefore, our opinion is the true reflection of what happens when you join the infamous Top StepTrader gambling program.

We’ve actually taken this investigation to the next level by querying the true performance statistics of subscribers on this website.

On the other hand, TopstepTrader does not risk publishing these numbers because it would obviously work against them. They’d love to keep collecting funds illegally in the name of trading Forex. But in the real sense, their business model works like that of a spread-betting firm.

Therefore, the questions that people want to know are as follows:

  • How many participants have signed up for the program?
  • How much do they make?
  • How much does this fraudulent scheme make out of this?

Here are the numbers(we gathered them from a very reputable research house)

On average, a trader spends $1,000 on TopstepTrader’s ”the combine” or in fees paid directly to the website owner.

80% of participants would never win the so-called ”funded account”.

Finally, even the few traders who actually won the funded accounts received a cumulative earning of -$900. In layman’s terms, we could say that even winners turned into net losers.

Now, the amount of money that the website collected is quite alarming. In one particular sample of users who participated in the TopstepTrader gambling program, it was hinted that the website had made $186,000 in total fees paid by gamblers.

Of course these numbers are staggering. So we took a closer look in the so-called ”combine fees”. We found that this amount of money was in pure profits that TopstepTrader had made off the pockets of participants.

In a bid to conduct further investigations and reveal the rot that is taking place in the fabric of this society, we initiated contact with a couple of technology vendors who make the wheels of this illegal business empire spin.

The truth came out. We discovered that this was a multi-million dollar business empire.

Honestly, this is so incredible. You let people play a futures trading simulator by charging them hundreds of dollars. And they actually keep paying and playing, hoping to win a prize. They lose money in the process.

The testimonials/user reviews

The site has a few testimonials which we admit are real. However, consider that these testimonials were written by the few fellows who actually won a funded trading account.

How about the rest of the population — which consists of 80% losers? No one wants to talk about them.

Therefore, the truth is that these testimonials don’t add any level of legitimacy to this product.

This website ought to have made it clear that they are a gambling company as opposed to a trading company.

They ought to apply for a license to run this business instead of ripping off traders in the name of Forex trading. This aspect of TopstepTrader actually makes them untrustworthy.

Our best advice for you

Topstep Trader appears to be authentic when the truth is that the underlying business model is not sensible. Actually, this business model is designed to fatten the pockets of the owner and not the trader.

Once they’ve collected enough, they award the prize to one or two traders. The rest are ripped off.

The bottom line is this: Top Step Trader is a money-sucker. The more greedy you are, the more money you will lose.

Thankfully, we are saving you from the deadly jaws of marketers who promotthis opportunity. We have compiled a short list of Forex robots and mentoring programs which we think will help you make money as far as trading is concerned. Instead of gambling your money, just use our recommended products.

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12 Replies to “TopstepTrader Review: A Scam That is Akin To Gambling”

  1. Читал, когда-то даже хотел попробовать. Но потом подумал и уж лучше на 300 долларов открыть памм счет и торговать на Форексе. При нормальной торговли после года существования памм счета инвесторы сами будут нести деньги в памм. Главное, не нарваться на форекс пирамиду!

    1. Ну, с такой рожей, конечно, к тебе побегут инвесторы! Шутка! Не выспался наверное.

  2. Hey guys!

    I got funded with the help of OneUp Trader!! While I was funded I didn’t pay anything out of pocket and I also broke a rule which they give a warning, 2 strike rule. I was up around $500 before I violated another rule (traded CL at 9:30 CT Wednesday). I got paid a portion of the $500 and now I’m using that money to sign up again via OneUp Trader. Also there’s no data fees, their Funding partners cover it. Amazing doesn’t quite say it!!

    Good bye TST, never again not for me.

    1. Bei TST ist man Komission-frei im Gegensatz zu OneUp wie ich das gelesen habe,solltet man über TST traden spart man sich locker (150-2000$) je nach Produkt. Die meisten schaffen es nicht, weil Sie Zocker sind und sich kein Tages Risiko setzen können. Ich finde den Beitrag sehr interessant. Bei bestimmten Kapitalfirmen kriegt man 150-230$ pro Tag am Anfang, womit man das Doppelte am Tag erzielen sollte. Wenn man das nicht einmal im Demo schafft, dann wieso live gehen wollen? Der eigene “Schweinehund” hat nichts mit dem Markt oder dem Kapitalgeber zu tun :).

  3. Pues no me parece una estafa. Para abrir una cuenta de trader toca mínimo 1000 USD, lo más probables es que la pierda y tenga q aprender a las malas, en cambio topsteptrader da esa oportunidad por unos 90 USD. Y si uno ha practicado y sabe lo suficiente puede ser fondeado. Topsteptrader no es para inexpertos, es una oportunidad para poder hacer trading cuando no se tiene suficientes fondos. Antes debes estudias, practicar tener una buena estrategia de trading antes de entrar a Topsteptrader

  4. TST is a bunch of garbage. I am a trader with 12 years of experience, both successful and unsuccessful who has been looking for a way to raise trading capital to start a real account with. I am also a financial industry veteran with 9 years of experience. I signed up for TST a couple of months ago and took the $50k combine. I did a couple of resets, but eventually pa**ed step 1 in about 2-3 weeks. I then went into step 2 and pa**ed on my first try in about 3-4 weeks. I was awarded the funded account! You can guess that I was pretty excited. After a few days of trading in the funded account, I built up about $1400 in profits. At this point, I had made back the money I spent and more, and began thinking about withdrawing some of the profit. Their rules call for a max drawdown of $2,000 from your closing high in the account. I figured since I was up a good amount in one day ($1000), that I would take out say $200 of it. I called to ask about what would happen to the drawdown limit if I were to withdraw some of the funds that day before the market close. You would think that my up $1000 day would be seen as an up $800 day in the system, and that the drawdown limit would trail up by only $800. This is not the case and is actually even worse. If I decided to take any withdrawal, the max drawdown immediately goes to your starting point, and TST is no longer willing to risk a single dollar on you anymore. You can a**ume it’s because they are reluctant to pay you back any of the funds you spent on the combine. Clearly they don’t want you to succeed, and only care about their own risk. My account was at the high point when this was happening, so I still should have had the $2000 max drawdown limit. However, had I withdrawn $200, it would have taken away $800 worth of my max drawdown! Unreal. That was the beginning of my disappointment, and messed up my mentality and I had a couple of bad days in the market. I eventually hit my max drawdown limit (intraday) and was auto liquidated and had my funded account shut down. Had they not liquidated me, the position would have gone to profit and I would have had an up day, but they don’t care since they are at risk. Here is where the disrespect, and EVIDENCE that they really are ONLY concerned with bringing in as many subscription fees as possible, and risking $0 on their “funded traders”. Instead of pushing me back just to the 2nd step of the combine to practice and regain the account, they force you to start completely from the beginning. I told them that if they actually cared about and respected their funded traders that it doesn’t make sense to do it this way. I mentioned to them that by doing it this way it now becomes clear that they don’t want traders to be funded, and only are interested in subscription fees. They responded and didn’t care about my complaint/suggestion, and did NOT even deny that they only care about subscription fees. STAY AWAY!!! PLEASE! THIS IS NOT A REAL PROPRIETARY TRADING FIRM, NO MATTER WHAT THEY TRY TO TELL YOU. I have traded at a prop firm in the past, and the differences are VAST. TOTAL BS company who only cares about their hamster wheel. I made in total $7500 in “trading profit” from the beginning of the combine to my high point in the real account, and saw $0 of it due to their rules. My suggestion to everyone is to just raise your own money and trade it, these guys are a complete waste of time and your money. You are better off losing your own money in the market and gaining experience that way, than to give it to these scumbags. There are also other programs out there to practice in a simulated account before you trade your own funds, rather than spending it on this garbage.

  5. Que pérdida de tiempo leer esto, nunca explicas cómo funciona ni porque es estafa, solo atacas a la empresa porque la mayoría falla.

  6. Pa**ed step one in bonds – step two – 100% loose rate
    Pa**ed step one in forex
    Step two – 100% loose rate same strategy
    Pa**ed step one again in bonds
    Step two- 100% loose rate
    Something is fishy with that place like they have connections to fail people on step two to keep you on the hook and paying on step two.

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