There are countless places to trade as a novice trader. Numerous trading websites, programs, and applications claim to be the best trading platform for traders and investors. It can be time-consuming, difficult, and downright overwhelming to decide which to use.
One platform, however, appears to have definite advantages for novice traders.
In 2012, the top step trader review was established in Chicago, Illinois. According to a list from Inc. 5000, the business was established by Michael Patak and has been recognized as one of the 5,000 Fastest Growing Companies in America.
The Top Step Trader idea is distinctive and provides traders with many advantages. The platform enables users to create an account and engage in competitive simulations with other users. You will have the opportunity to be promoted to a funded trader if your trades perform well and you meet the requirements.
As soon as you are given the funding trader status, you can actively day trade with the firm’s funds. You get to keep 80% of your profits after the company retains the first $5,000 to support other traders.
Anyone new to trading will greatly benefit from this incredibly original business model because it enables you to learn how to day trade. It is also fantastic for day and future traders with limited investment capital. If the trader is successful, the system enables you to leverage the company’s capital, and the potential gains could be sizable.
Top Step Trader Features Review
Another benefit is the vast array of features that Top Step Trader offers traders. Using tools, information, and research effectively is one of the difficulties of day trading. Due to competition from other day traders with access to various devices, many day traders need help generating profits consistently.
Top Step Trader has gone to great lengths to provide its day traders with as much knowledge as possible.
Below is a list of some Top Step Trader features.
- No-Fee Trading Platform
- Candlestick charts
- Bar charts
- Line graphs
- Point & figure
- Heike nashi
- Education and Coaching
- Daily live trading classes
- Lessons on trading psychology
- the ability to view real-time trading by professionals
- Performance Coaching Plan
- 30-minute kickoff session.
- Personalized advice on your trading strategies.
- A daily conference call and a weekly coaching session.
- Access to the private trader group chat.
- Community Help
What Are Top Step Trader Risks?
There are risks associated with day trading, and even though TopStepTrader provides ways to reduce those risks, there are still risks to be aware of. Your account will be reset and charged $100 if you experience a sizable loss due to a bad trade. Even though this is an expense, it presents a reasonably cost-effective chance for novice traders to experiment with various strategies. If you put $50,000 into a new trading strategy and lost it all, your losses would be $50,000 rather than $100.
In addition, Top Step Trader charges a transaction fee of $0.18 per contract, which is higher than what other platforms do not.
Top Step Trader has a lot to offer traders who are just starting or have a small initial investment. They have a huge selection of features, and there is little risk if you are a funded trader since you are using house money, and the costs are reasonable compared to other trading platforms.