Overview
Founded by trading legends Cue Banks and Anthony (of Anthony’s World) TopTier Trader is a proprietary firm that offers up to $600,000 in funding to traders who pass their 2-stage evaluation. In 2022, TopTier Traders were allocated over $150 million in company capital and the firm is now present in over 108 countries worldwide.Things we didn't like:
Equity-based drawdown on Top Tier Plus accountsNo EAs allowed on Top Tier accounts
No weekend holding on regular Top Tier accounts
Why would you want an alternative to TOPTIER TRADER?
TopTier prides itself on a trader-facing funding scheme, which it claims, “empowers traders worldwide.” While it is true the firm has a presence in 108 countries around the globe and its company footprint is growing rapidly, this proprietary firm may not be for everyone. While TopTier refers traders to its “Realistic Profit Targets” the Challenge rules are stringent and not everyone will be able to meet the 10% profit target in the time limit of 40 days.
Many traders will find themselves effortlessly navigating their accounts within the TopTier Challenge parameters – but those who prefer a freer, “anything goes” approach may find themselves limited and frustrated by the evaluation criteria. That said, most prop firms will require that traders meet similar targets; part of the reason for these evaluations is to assess if traders can reliably trade in a demo account before they are trusted with company funds.
What to look for in a TOPTIER TRADER Alternative?
For the category of traders who find time limitations add negative pressure to their performance, they might want to find an alternative prop firm with longer periods or no deadlines altogether. Moreover, while 90% of profits from a $600,000 account is certainly an exciting prospect, many prop firms are offering larger scaling plans with up to millions in funding and more ambitious traders may want to seek elsewhere.
Best TOPTIER TRADER alternatives – Proprietary Trading Firms like (or better than) TOPTIER TRADER
Rating breakdown
Things we liked:
Exclusive Discount Code (20% Off Exclusive Offer)Minimal rules & unlimited time for completion
Two-part assessment leading to $200,000 in funding
Scaling plan & fast-track funding opt
Things we didn't like:
New player in the funded account offeringAn entry fee to sign up for the challenge.
FunderPro Overview
Founded in Malta in late 2022 by a group of traders and investment managers, FunderPro was born out of the need to provide an opportunity for traders to be judged on their merit without pressure or unnecessary rules. FunderPro traders can trade in their own time, for as long as they want or need, there are no deadlines looming down nor petty restrictions to trip over.
Rating breakdown
Things we liked:
FTMO charges a one-time fee onlyFTMO has generous conditions for its traders
Things we didn't like:
Complaints about the platform freezingComplaints about lack of customer support
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.
Rating breakdown
Things we liked:
No restrictions on applied strategies plus, traders can use their advisors;Ability to repeat a challenge.
Things we didn't like:
While Eightcap provides many different instruments, only a few of them are available;Trading cryptocurrencies is possible only during the challenge.
The Funded Trader Overview
Lack of real funds aside, there is much to love about the Funded Trader. If you enjoy a gamified approach to trading, then you will find plenty to appreciate on this platform. In summary, traders can leverage the highly realistic simulations of the Funded Trader Challenges to prepare themselves for a live market scenario and the risk of their own real funds. There is also a Kingdom of interactive and entertaining tools and features that will see you building up your traders’ portfolio of skills and strategies without feeling like classroom learning!