Find out the major disadvantages of Topstep Proprietary Trading Firms and alternatives with lower fees and more security. Unbiased Topstep Alternatives reviews.
So which Proprietary Trading Firms are better than Topstep? Want to jump straight to the answer? OspreyFX is the best alternative broker to Topstep in 2021

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.

Things we didn't like:

 Not one-off payment
  Challenges perceived to be too hard or pointless

Why would you want an alternative to TOPSTEP?

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.

What to look for in a TOPSTEP Alternative?

If Topstep FX doesn't seem like the right option for you, or you want to compare it to others on the market, there are five key characteristics to look for in a decent prop firm. The first is reputation. Only consider prop firms that are well-reviewed amongst its community. Negative ratings are a major red flag, and you can find them on Google, blogs, forums, and dedicated review sites such as Site Jabber and Trust Pilot.

Second, you need to read the small print regarding trading restrictions. A decent prop firm will offer a great deal of flexibility, so read all their terms and conditions carefully to avoid getting caught out further down the line. Check you can set up a trading account from the country you are living in, for example, as this has caused problems for traders in the past.

In searching for Topstep FX alternatives, make sure you know exactly what your trading goals are for them. How much profit do you need to make, how many losses can you incur, and within what timeframe? Check whether these rules are subject to change for any reason, such as following a withdrawal. Also, do you need to pass a test beforehand, and what will this test entail?

Fourth, you should ensure the prop firm in question includes a growth program that allows traders' profit margins to increase over time. A growth program increases the longevity of a trader's account, which should also be beneficial to the prop firm.

Finally, what are the payouts? Payouts are the most critical factor for many traders when choosing a prop firm as it determines the amount of money you stand to make. The payouts are usually stated in percentages. For example, one firm may offer you 70% of the profits you make, while another will offer 80%, so it is worth shopping around!

Best TOPSTEP alternatives – Proprietary Trading Firms like (or better than) TOPSTEP

4.3 / 5

Rating breakdown

Challenge difficulty
90%
4.5/5
Support
80%
4.0/5
Trading Fees
90%
4.5/5
Payout scheme
80%
4.0/5

Things we liked:

  The OspreyFX team is reliable and helpful
 highly transparent - easy track and analyze results

Things we didn't like:

 Relatively new player in the funded account offering
 An entry fee to sign up for the challenge.

#1
OspreyFX Overview

OspreyFX is a powerhouse broker that offers leverage of up to 1:500 to trade forex, crypto, stocks, or more. They recently launched the OspreyFX Funded Account Challenge, a chance for traders to manage $100,000 with zero risk.

3.6 / 5

Rating breakdown

Challenge difficulty
90%
4.5/5
Support
50%
2.5/5
Trading Fees
60%
3.0/5
Payout scheme
90%
4.5/5

Things we liked:

 FTMO charges a one-time fee only
 FTMO has generous conditions for its traders

Things we didn't like:

 Complaints about the platform freezing
 Complaints about lack of customer support

#2
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.

2.6 / 5

Rating breakdown

Challenge difficulty
60%
3.0/5
Support
50%
2.5/5
Trading Fees
70%
3.5/5
Payout scheme
30%
1.5/5

Things we liked:

 Let you trade with leverage of up to 1:30

Things we didn't like:

 5%ers Challenge fee is on the higher end of the spectrum
 There are other holes in the 5%er offer

#3
the5ers Overview

The 5%ers is a prop trading firm founded by Gil Ben Hur and Snir Chiel. Both former forex day traders, Gil and Snier, experienced first-hand the frustrations that lack of capital bring to experienced traders ready to play the markets. Hence, the 5%ers Funding Program was born: a platform to reward worthy traders with significant capital, with profits shared in a win-win outcome.

Topstep Alternatives Frequently Asked Questions (FAQs):

Are there any sites like Topstep?
Yes, there are many sites offering similar services like Topstep. Those include FTMO, the5ers and many more. If you are to look for an alternative to Topstep for your crypto trading needs, then you must make sure it is one with a better offering.
Which is better Topstep or the5ers?
After assessing the two Proprietary Trading Firms Topstep vs the5ers, objectively, Topstep is more reliable based on our analysis.
Which is better Topstep or FTMO?
After assessing the two Proprietary Trading Firms Topstep vs FTMO on nearly 10 different variables, we would be able to get into an informed conclusion. Objectively, FTMO is more reliable based on our analysis.

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