Toptier Trader Review – Funding Your Trading or Their Own Pockets?

There’s always the same question when you want to start trading, but you don’t have enough capital. What should you do? One of the possible answers is to turn to a proprietary trading firm that will fund your trading in case you can prove yourself trustworthy.

Our detailed Toptier Trader review will check out just one prop company and its operations.

What to Expect in Terms of Toptier Trader Legitimacy?

Let’s begin with the fact that proprietary firms are not obligated to be regulated. This is because they’re funding your trading, and you’re not paying them for anything. Or technically anything. Depending on the company, you can have various entry fees, maintenance costs, etc.

Such firms run various challenges at several stages to test your performance and check whether you are worth their capital. Once you start trading, Toptier Trader offers up to $600,000 with the profit split 90/10 to your favor. Sounds amazing, right?

However, note that Toptier Trader cooperates with Vital Markets as their platform provider. And Vital Markets is unregulated and offshore. 

Toptier Trader Challenges – Steps to Funding

There are two types of Toptier Trader challenge:

• Top Tier Challenge – $130-$1,399
• Top Tier Challenge Plus – $140-$1,489

The first one contains regular and swing accounts, with the main difference being leverage. Namely, with regular accounts, your maximum daily loss in the Tier 1 phase is limited to $15,000, while the profit target is $30,000. 

Then, you enter Tier 2, where you cannot hold your trades open over the weekend or use EAs. During this stage, you have to reach a target of $15,000. Finally, in the Top phase, you get a refund of the initial entry fee and can trade infinitely. The leverage during this stage is limited to 1:100.

If you choose a swing trading account rather than a regular one, everything will be the same, while the leverage limit will be 1:30.

Finally, if you choose Challenge Plus, you will have a maximum daily loss of $15,000 and a profit target of $24,000 in the first phase and $15,000 in the second phase. Of course, this stage has a bit higher fees as gains are higher, too.

Note that you can get anywhere between $10K and $300K, and your entry fee will vary based on the amount.

What Can You Trade? – Available Trading Assets

Per the Help Center, you can trade all the assets available through the Vital Markets trading platform. Upon visiting their website, we discovered that these are:

• Forex pairs – EUR/USD, GBP/AUD, NOK/SEK
• Cryptocurrencies – BTC, BCH, ADA
• Indices – AU200, BE20, DAX30
• Stocks – Amazon, Tesla, Microsoft
• Commodities – gold, silver, natural gas

It’s a pretty standard range. However, you should note a clause stating that all your trades are executed via the Toptier Trader demo account and then copied to a Vital Markets live one. Imagine possibilities for slippage and omissions.

Toptiertrader.com Trading Platforms Choice

Once again, we’re back to Vital Markets as ToptierTrader uses its services. According to the brokerage website, they use a proprietary software called TradeLocker. It’s powered by TradingView and allegedly allows in-app trading, offering advanced tools and trading across all devices.

You should know that TradingView is one of the best charts out there, but it’s only that. A chart. Platforms need more sophisticated tools, like the ones provided by MetaTrader or cTrader, for example.

Toptier Trader Reviews – What Clients Have to Say?

The reviews vary deeply, depending on where you search for them. For instance, we found 2,781 comments on Trustpilot at the time of writing, with a company score of 4.7 stars. Rather impressive.

Those little negative reviews point out that it’s impossible to pass the initial stage and that the company is not allowing its users to utilize promotions, delaying the response on purpose.

On Sitejabber, for instance, we found only one review, and it’s entirely negative. The customer claims that Toptier Trader fees are hidden, and terms are not followed. Somewhat concerning when you know that you need to rely on them to pay you out.

Toptier Trader Payout System

First, it’s important to note that the company only supports two payment methods:

• Debit/credit cards,
• Cryptocurrencies.

This is rather odd for such a large firm to limit user’s choices. Once you demonstrate your trading skills and pass all the challenge phases, you can get up to $600,000 to trade. Then, the split is up to 90/10 in your favor.

We don’t really like the fact that there are no specifications on what “up to” means. How do they choose who will get the most money and the highest profit share? Also, what is the lowest amount you can get? It is pretty unclear and, coupled with the fact that they use unregulated offshore brokers, rather concerning.

Can I Make Money While Trading Online?

Of course, making money from trading is possible, and thousands of people are doing it daily. Some may be afraid to use their capital, so they rely on proprietary firms, while others are courageous enough to join a brokerage and make the initial deposit.

Whatever the case, you need proper tools. You need to understand technical analysis and extract the most from data you possibly can. We’re here to assist you with this matter. Our AI Analysis Bot is free to test for the first 20 days. We want you to see the difference and the time you will save utilizing one such advanced market tool.

Sign up today and be amongst the first 100 users who will secure their free testing!

FAQ