FTMO VS TOPSTEP
3.6 / 5
Rating breakdown
FTMO Overview
FTMO is the latest in a burgeoning series of scouting programs. Propriety trading firms or “prop firms” put traders to the test (for a fee) through evaluations and challenges. The lucky few who pass are then funded with capital, and successful trades are split down a percentage with the broker. As scouting firms go, FTMO is an excellent all-rounder. Alongside a decent 80% payout for successful traders, FTMO equips users with webinars, workshops, and coaching.
3.5 / 5
Rating breakdown
Topstep Overview
Founded in 2012, TopstepForex has become one of the biggest proprietary trading sites online. Topstep FX is based in the USA, but it is available for everyone to use worldwide. Traders are invited to join their "forex funded trader program," which gives them the chance to use Topstep FX's money (and gain a healthy cut of the profits), without risking their capital.After spending several days researching different Proprietary Trading Firm for funded trading accounts, our team at start-business-online.com team collected various data points. For this review, we will compare Ftmo vs Topstep.
Compare FTMO VS TOPSTEP Funded Trading Accounts Programs - Find the best firm for you
FTMO VS TOPSTEP Prop Trading Firms at a glance
A handy comparison table with all the key facts for the Funded Trading Accounts Programs.
| Evaluation Metric | How they performed |
|---|---|
| Challenge difficulty | The FTMO Challenge is not a piece of cake, but for a good reason. The idea behind prop firms is to headhunt expert traders. To get the most out of FTMO and begin trading with undreamed leverage, you need to be able to offer value to the company in return. On the other hand The Topstep FX Challenge is a simple yet effective way of separating the wheat from the chaff. It is not a perfect system, and there are grievances about some aspects of it, but, overall, it is a transparent and fair means of ensuring you know what you are doing. It's a great platform to take on the challenge, and it has easy-to-understand metrics that reflect your trading progress. |
| Customer support | This is a rather marmite issue. On the one hand, the in-depth reports and performance coaches offered to traders provide excellent support. However, there have been complaints of disgruntled users finding it hard to get a response from FTMO, so for this, we scored them at a 5. On the other hand The customer support with Topstep FX is good, clearly reflected across several review platforms. There are some complaints about the quality of customer support, but most of these have been responded to. |
| Fee | The FTMO Challenge is neither free nor cheap; however, nor is it the most expensive of the prop firm challenges by a long way. Moreover, FTMO is one of the rarer scout trading sites that offers a refundable fee. On the other hand The cost on Topstep FX can be a positive or a negative depending on how quickly you pass the challenge. As it is a monthly payment, you will save money (compared to prop firms asking for more expensive one-off payments) if you complete the challenge quickly, but you will lose value for money if you are too slow. |
| Payout scheme | FTMO scores highly on this metric as their payout is generous compared to some rival prop trading sites. On the other hand Compared to other proprietary firms, Topstep FX has a high percentage payout scheme or, to put it another way, it takes a lower percentage cut on your profits. |
The Verdict: Ftmo or Topstep?
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Ftmo is more reliable based on our criteria above.
What We Really Like on Ftmo
FTMO charges a one-time fee only
FTMO has generous conditions for its traders
What We Don’t Like on Topstep
Not one-off payment
Challenges perceived to be too hard or pointless
Other Important Factors That Influence Our decision the most
Topstep FX is not perfect in every way. If it takes you a long time to pass the challenges, you will end up spending more on the platform's monthly fees than a comparable service with a one-off payment. Some traders have been annoyed at some of the rules on Topstep FX. The "20-second rule" and the "Trailing Max Drawdown" moving to zero after any withdrawal have been unpopular with some. Others believe the inability to undo your decision between a pro account or an express funded account is unfair. The challenges themselves are sometimes perceived to be too hard or pointless. Topstep FX can provide justifications for these issues, yet some traders remain unconvinced.Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Funded Trading Accounts based on your precise requirements here.