Topstep vs. Take Profit Trader: A Comprehensive Comparison for Aspiring Traders
When it comes to funded trading programs, two companies that often come up are Topstep and Take Profit Trader. Both firms provide traders the opportunity to access real capital and trade under specific guidelines, with the ultimate goal of scaling their trading careers. However, each firm has unique offerings in terms of evaluation processes, risk management, profit-sharing models, and more.
In this article, we will compare Topstep and Take Profit Trader to help you understand which platform best suits your trading style and objectives.
1. Overview of Topstep
What is Topstep?
Topstep is one of the largest and most well-known proprietary trading firms in the industry. Specializing in futures trading, Topstep has been around since 2012 and has gained a reputation for its structured evaluation process and focus on trader education. The firm provides traders with an opportunity to demonstrate their skills and, once successful, offers them the chance to trade with real capital.
Key Features:
- Evaluation Process: Topstep’s evaluation consists of two phases where traders are required to meet specific profit targets while adhering to strict risk management rules.
- Account Sizes: Account sizes available range from $50,000 to $150,000, depending on the trader’s experience and the chosen plan.
- Profit Share: After passing the evaluation, traders can keep up to 90% of the profits generated from their funded accounts.
- Risk Management: Topstep enforces strict $1,000 daily loss limits and a $2,000 maximum drawdown for funded accounts.
- Payout Frequency: Topstep offers bi-weekly payouts, allowing traders to access their profits every two weeks.
2. Overview of Take Profit Trader
What is Take Profit Trader?
Take Profit Trader is a relatively new proprietary trading firm that offers funding opportunities to traders who can demonstrate consistent profitability. With a focus on futures trading, Take Profit Trader offers an accessible evaluation process and a variety of account sizes, making it an appealing choice for both new and experienced traders.
Key Features:
- Evaluation Process: Take Profit Trader uses a single-phase evaluation process, which simplifies the entry requirements compared to multi-phase evaluations like Topstep’s. Traders need to prove their profitability over a set period.
- Account Sizes: The firm offers a variety of account sizes ranging from $25,000 to $200,000, providing more flexibility for traders based on their risk appetite.
- Profit Share: Once funded, traders can keep 80%-90% of the profits, which is competitive in the industry.
- Risk Management: Take Profit Trader has a $1,000 daily loss limit and a $2,000 maximum drawdown, similar to Topstep but with some variation in terms of flexibility.
- Payout Frequency: Take Profit Trader offers weekly payouts, meaning traders can access their profits more frequently compared to Topstep’s bi-weekly payout schedule.
3. Evaluation Process: Topstep vs. Take Profit Trader
The evaluation process is a crucial aspect to consider when choosing a proprietary trading firm. Both Topstep and Take Profit Trader require traders to pass a specific evaluation to demonstrate their ability to trade profitably under controlled risk, but the process differs in complexity and duration.
Topstep Evaluation Process:
- Phase 1: Traders need to reach a $3,000 profit target within 15 trading days while maintaining a strict $1,000 daily loss limit.
- Phase 2: In Phase 2, traders are required to reach another $3,000 profit target in 10 trading days, with the same risk management rules applied.
- Evaluation Focus: The two-phase evaluation process is designed to test a trader’s ability to meet profit targets under a relatively short time frame, which can be challenging for some traders.
Take Profit Trader Evaluation Process:
- Single-Phase Evaluation: Traders at Take Profit Trader only need to complete a single-phase evaluation, where they must hit a specific profit target over a set period.
- Evaluation Focus: The single-phase evaluation is generally simpler and less stressful compared to Topstep’s two-phase model. Traders are given more flexibility in terms of time and targets to prove their profitability.
4. Profit Share and Payouts: Topstep vs. Take Profit Trader
One of the most attractive aspects of proprietary trading programs is the profit-sharing model and how frequently traders can access their earnings. Both Topstep and Take Profit Trader offer competitive profit splits, but they differ in payout frequency and maximum profit shares.
Topstep Profit Share:
- Profit Share: Topstep offers traders up to 90% profit share once they pass the evaluation and begin trading a funded account.
- Payout Frequency: Topstep provides bi-weekly payouts, meaning traders can access their profits every two weeks.
Take Profit Trader Profit Share:
- Profit Share: Take Profit Trader offers traders a profit share ranging from 80% to 90%, depending on the account size and performance.
- Payout Frequency: Take Profit Trader offers weekly payouts, allowing traders faster access to their earnings compared to Topstep’s bi-weekly schedule.
5. Risk Management: Topstep vs. Take Profit Trader
Risk management is a key element for all proprietary trading firms, as it ensures that traders do not exceed the limits set by the firms. Both Topstep and Take Profit Trader have specific risk management rules in place.
Topstep Risk Management:
- Daily Loss Limit: $1,000 daily loss limit for funded accounts.
- Maximum Drawdown: $2,000 maximum drawdown for the funded accounts.
- Leverage: Topstep offers leverage of 1:100, depending on the trader’s account size and the instrument being traded.
Take Profit Trader Risk Management:
- Daily Loss Limit: $1,000 daily loss limit for funded accounts.
- Maximum Drawdown: $2,000 maximum drawdown for funded accounts.
- Leverage: Take Profit Trader offers leverage up to 1:50, which is generally more conservative compared to Topstep’s 1:100 leverage. This lower leverage may appeal to traders who prefer a more cautious approach.
6. Key Differences: Topstep vs. Take Profit Trader
| Feature | Topstep | Take Profit Trader |
|---|---|---|
| Profit Share | Up to 90% | 80% – 90% |
| Evaluation Process | Two-phase (15 days and 10 days) | Single-phase evaluation |
| Account Sizes | $50,000 to $150,000 | $25,000 to $200,000 |
| Risk Management | $1,000 daily loss limit, $2,000 max drawdown | $1,000 daily loss limit, $2,000 max drawdown |
| Payout Frequency | Bi-weekly | Weekly |
7. Conclusion: Topstep vs. Take Profit Trader – Which is Right for You?
Both Topstep and Take Profit Trader offer excellent funding opportunities for traders who meet the criteria. The decision comes down to your preferences for evaluation structure, payout frequency, risk management, and overall trading style.
- Choose Topstep if you prefer a more structured, two-phase evaluation process that tests your ability to meet profit targets under strict conditions. If you can handle the intensity and want the opportunity to earn up to 90% profit share, Topstep’s bi-weekly payouts could be a strong incentive.
- Choose Take Profit Trader if you prefer a single-phase evaluation with more flexibility in terms of the time allowed to pass the evaluation. Take Profit Trader also offers weekly payouts, which might appeal to traders who prefer faster access to their profits. Additionally, the variety of account sizes allows more flexibility in choosing the right account size for your trading style.
Ultimately, both firms provide a solid platform for traders seeking funding, but the right choice will depend on your trading preferences, risk tolerance, and how you like to structure your trading experience. Whether you choose Topstep or Take Profit Trader, both firms offer the opportunity to scale your trading career with real capital and the support of a reputable prop trading firm.
