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My Funded Futures vs Topstep: A Comparison for Futures Traders

2024-11-29

Are you aspiring to become a futures trader but unsure where to begin? Look no further than proprietary trading firms like My Funded Futures or Topstep. These firms offer an opportunity to trade futures with a funded account after passing an evaluation. In this detailed comparison, we'll explore the features, funding programs, payment options, and pricing of both My Funded Futures and Topstep to help you make an informed decision.

Uncover the Best Prop Trading Firm for Your Futures Journey

What Is My Funded Futures?

My Funded Futures has made a significant impact in the futures prop firm arena since its establishment over a year ago. Based in Dover, Delaware, this firm empowers traders by providing a straightforward one-stage evaluation. Traders can quickly start trading with a simulated account and, upon demonstrating consistency with 30 winning days, gain access to a live account. A strong community supports futures traders from the very beginning, providing them with the latest market insights, analysis, and risk management tools.

Its pros include the potential to complete the evaluation in one day, transparent pricing and fees, and the ability for traders to keep 100% of their first $10,000 profit and 90% of subsequent profits. Additionally, traders can have up to 10 funded accounts. However, it has some limitations such as offering access only to futures, not allowing expert advisors (EAs), and having limited educational materials.

What Is Topstep?

Founded in 2012 in Chicago, Illinois, Topstep initially focused on futures trading. In 2018, it expanded to foreign exchange (forex) trading but ended the program in 2022 and now encourages forex traders to trade in forex futures. Topstep uses a one-step evaluation program called the “Trading Combine” to emphasize the importance of consistency in strategy and risk management. All traders can learn discipline and good habits through this program.

Its pros include a single-rule evaluation, multiple account options, allowing traders to keep the first $10,000 they earn, and providing TopstepTVTM for insights, news, and analysis, as well as its proprietary trading platform, TopstepX. However, its rules and programs can be challenging, funded traders pay exchange data fees as professionals, and five winning days are required before qualifying for a payout.

Comparing My Funded Futures vs. Topstep

Both My Funded Futures and Topstep are attractive to new and experienced futures traders due to their similar features. They both allow traders to keep the first $10,000 earned and split profits 90/10 in their favor, and have a one-step challenge to obtain funding. However, there are differences.

On Topstep, traders can have up to five Express Funded Accounts after completing the Trading Combine, while My Funded Futures allows just three Sim Funded Accounts. Each time a trader passes the Trading Combine for an Express Funded Account on Topstep, a $149 activation fee is required, while My Funded Futures has no activation fee. Topstep has a simple rule of not hitting or falling below the maximum loss limit, which helps manage risk. It also gets high marks for educational content, while My Funded Futures is praised for its supportive community and educational materials.

Funding Programs

The funding programs for both firms start in simulated trading environments. My Funded Futures has Starter, Expert, and Milestone programs, while Topstep has the Trading Combine. Traders are evaluated based on their ability to meet a target profit and consistency. Once passed (which can take one day for My Funded Futures and two days for Topstep), they move to a simulated account and then, if ready, to a live funded account. The time frame varies based on the trader's abilities.

Trading Platforms

Topstep offers three recommended trading platforms including its proprietary TopstepX, NinjaTrader, and Quantower. Additionally, traders can use other platforms like Tradovate, TradingView, T4, R|Trader Pro, ATAS OrderFlow Trading, MotiveWave, VolFix, Bookmap, Investor/RT, Jigsaw Daytradr, MultiCharts, and Sierra Chart. My Funded Futures also provides several options such as NinjaTrader, Tradovate, TradingView, Quantower, Volumetrica, Volsys/Volbook, and ATAS.

Payments

My Funded Futures accepts wire transfers, crypto, and credit cards, while Topstep accepts PayPal and major credit cards like Visa, Mastercard, American Express, and Discover.

Pricing

For the initial evaluation, both firms offer three account sizes: $50,000, $100,000, and $150,000. Topstep's monthly charges are $49, $99, and $149 respectively. My Funded Futures has more nuanced pricing with Starter accounts costing $80, $150, and $220; Expert accounts costing $165, $265, and $375; and Milestone, a lifetime option, costing $445, $555, or $665. My Funded Futures doesn't charge an activation fee, while Topstep charges a one-time $149 activation fee for each Express Funded Account earned after passing the Trading Combine. Traders on Topstep are also charged commissions and other fees for live-funded accounts.

Ultimately, the choice between My Funded Futures and Topstep depends on your trading style and goals. Over a decade of trader input and refinement has set them apart, but both are major players in futures prop firm trading. Understanding their features and offerings can help you make the right decision.

Foreign exchange trading presents a significant level of risk that may not be appropriate for all investors. Leverage amplifies this risk and exposes traders to potential losses. It is crucial to carefully assess one's investment goals, experience level, and risk tolerance before venturing into foreign exchange trading. There is a possibility of losing a portion or all of the initial investment, and one should never invest money that they cannot afford to lose. Educating oneself about the risks associated with foreign exchange trading is essential. Seeking advice from an independent financial or tax advisor is advisable if there are any uncertainties or questions.

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Risk Management in Foreign Exchange Trading

Effective risk management is crucial in foreign exchange trading. Traders need to understand the various risks involved, such as market volatility, currency fluctuations, and leverage-related risks. By implementing proper risk management strategies, such as setting stop-loss orders and diversifying their portfolios, traders can minimize potential losses and protect their capital. It is also important to regularly monitor and assess one's trading positions and adjust them as needed based on market conditions. Additionally, staying updated with the latest market news and trends can help traders make more informed decisions and manage risks more effectively.

The Importance of Independent Advice

Seeking independent financial or tax advice is highly recommended in foreign exchange trading. An independent advisor can provide objective and personalized advice based on an individual's financial situation and goals. They can help assess the suitability of foreign exchange trading for a particular investor and provide guidance on risk management and investment strategies. Independent advisors can also help navigate the complex regulatory environment and ensure compliance with relevant laws and regulations. By relying on independent advice, investors can make more informed decisions and reduce the potential for losses due to poor judgment or lack of knowledge.

Dans un contexte où le RN semble s’engager dans un vote de censure contre le gouvernement, le président de la Cour des comptes se met en garde sur les conséquences potentielles. Pierre Moscovici, un personnage clé dans cette affaire, a dévoilé des aspects importants.

Tagline : Alerte sur les Conséquences du Vote de Censure

Le Vote de Censure et son Impact

Lorsque le RN ouvre la voie au vote de censure, il entraîne une phase plus incertaine. Comme le souligne Pierre Moscovici, "Avec une motion de censure, on rentre dans une phase plus incertaine et l’incertitude est toujours quelque chose un peu préoccupant en matière financière". Actuellement, la situation financière de la France est dangereuse et préoccupante. On compte 3.200 milliards de dettes et un ratio de dette publique de 110% du PIB, alors que les partenaires ont 85% et une charge de la dette qui atteindra 70 milliards d’euros l’année prochaine contre 25 milliards d’euros il y a quelques années. Il est donc crucial de réduire les déficits et maîtriser la dette.Après un exercice 2024 qualifié d'”année noire” en raison d’un déficit passé de 4,4% du PIB en prévision à 6,1%, Pierre Moscovici appelle à “mettre le frein”. L’objectif du PLF, qui est examiné par l’Assemblée, de 5% de déficit doit être atteint et recherché.

Les Conséquences de l’Expédient Spécial

Si les institutions de la cinquième République prévoient une loi spéciale pour les impôts et les dépenses, cela pourrait avoir des conséquences lourdes. Comme le précise le président de la Cour des comptes, "Comme le barème de l’impôt n’est plus indexé sur l’inflation à ce moment-là, à peu près 400.000 foyers modestes rentrent dans le barème de l’impôt et plusieurs millions voient leur impôt augmenter". De plus, la France ne pourra pas engager de nouvelles dépenses nécessaires, comme en matière de défense et de sécurité intérieure. Enfin, la dette et les déficits ne seront pas réduits. "Si on a une loi spéciale, il faudra quand même avoir assez vite un projet de loi de finances sinon c’est très ennuyeux pour la situation de la France", souligne-t-il.

La Critique de la Posture du Rassemblement National

Pierre Moscovici critique la récente posture adoptée par le Rassemblement national. "Ils demandent des concessions qui dégradent le déficit puis reprochent au gouvernement de ne pas le combler". Selon lui, pour maîtriser un déficit, il est mieux de faire des économies en dépenses. "On peut faire les impôts une fois mais deux fois : bonjour les dégâts et ça a des conséquences sur l’économie". Il est donc nécessaire de basculer sur l’autre mode, celui d’économies en dépenses. "Ce n’est pas une année difficile mais 4 ou 5 années d’efforts".Le Sage de la rue Cambon invite à sortir d’une “politique budgétaire expantionniste” qui a duré “un peu moins d’une décennie” en réduisant “constamment” les déficits mais sans que ces économies soient synonymes de “rabot”. "Pour faire des bonnes économies, il faut y réfléchir, les penser et les appliquer et ça nécessite un exercice plus structurel".