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.
|Evaluation Metric||How they performed|
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.
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.
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.
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.
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.
FTMO charges a one-time fee only
FTMO has generous conditions for its traders
Not one-off payment
Challenges perceived to be too hard or pointless
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.