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Topstep For Canadians

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If you live in Canada and have heard of Topstep, let me give you the quick summary of who they are, what they do, if they are good, and is Topstep good for Canadians? I have been funded by Topstep before living in Canada, so that should immediately answer any questions if Canadians can be funded with Topstep, but read on for more information.

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What Are Funded Futures Trading Programs

Funded futures trader programs like Topstep are what are called “proprietary trading firms”. Essentially you trade their money, and then split the profits. Read below for more of the details but that is essentially what programs like Topstep and others are. You can see my reviews and recommendations of all prop firms here.

In order for them to give you a funded account, you first have to pass a test which requires 4 minimum trading days and specific profit goals, along with not breaking any risk parameters. Trying out is a great way to give trading a try with minimal risk to you (just pay the fee to try out and that is it). If you are a great at it, you’ll be rewarded.

Who Is Topstep

Topstep has been around since 2012 and are one of the original online prop firms out there. They offer both Futures and Forex accounts. I focus specifically on futures trading myself. They were started by a former pit trader named Michael Patek. He often interacts with Topstep clients and traders on their Facebook group, and all in all is a good guy.

Topstep was the very first online prop firm I tried out for. I’ve passed twice, and unfortunately both times I blew my funded account.

You can read more about Topstep in my review here.

Why Trade With Topstep Instead Of Your Own Money

The big benefit to online prop firms like Topstep is you get to trade someone elses capital, and most likely you are trading more contracts than you would normally trade with your own money. Low risk, high reward. You pick what size account you want to try out for, they range from $50K to $150K.

The profit split is 90/10. 90% goes to you the trader. As mentioned it’s a win win for them and you.

Is Topstep A Good Option For Canadians

Getting to Canada, the short answer is yes, Topstep is a great option for Canadians for several reasons. Firstly, opening a futures trading account in Canada is not nearly as easy as it is in the US. The minimum deposit amounts are large, the margin requirements are large, the commissions are bad. Doesn’t sound fun. With Topstep, you are trading their capital. Setup is very quick, and when funded your withdrawals are treated as normal income. You can withdraw via bank wire, and withdrawals are processed weekly at your request.

In fact I recommend all funded trader evaluations I’ve gone through myself. You can find them here: Recommended Futures Trading Evaluations.

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Topstep is a great option for Canadians. Pay a small fee, trade for 8 days, pass the test and become funded as a futures trader. No large deposits and risks needed.

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Risk Disclosure:

Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones’ financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results.

Hypothetical Performance Disclosure: 

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.

In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. for example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results.

You can read more here: Risk Disclosure

Affiliate Disclosure:

The external links on my site and in my video descriptions to trader evaluation companies and software companies are primarily affiliate links. I earn a commission from these companies on any sale made from people visiting these links. That said, I only recommend companies and software I personally use and actually do recommend. Believe me, I turn down a lot of companies who approach me. You can read my full Affiliate Disclosure here.

Additional Disclosure:

The content provided is for informational purposes only. I do my best to keep the content current and accurate by updating it frequently. Sometimes the actual data, rules, requirements and other can differ from what’s stated on our website. CanadianFuturesTrader.ca is an independent website. You should always consult the rules, faqs, knowledge base and support of any of the websites and companies we link to or talk about on our site. The information on their site will always be what ultimately dictates the current rules of their program, software or other. While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website. The contributors and authors are not registered or certified financial advisors. You should consult a financial professional before making any financial decisions.