Description

Overview

Top Tier Trader  is a relatively new proprietary company that launched on October 18, 2021. They are based in the US, Delaware and offer low cap traders funding up to $600,000 with a profit split of 80%. Remember they also have a scaling plan for their most successful traders, balances up to $2,000,000. They offer their clients Vital Markets as a broker.

Trading Platform

Top Tier Trade offers the MetaTrader 4 (MT4) platforms. The award-winning terminals will be familiar to experienced traders, providing a range of custom analysis tools, instant and pending orders, plus support for automated trading.

MT4 are available for free download to Mac, Linux and Windows devices. Alternatively, there is a web-based terminal with no plug-ins required. Mobile-compatible apps are also available to download from the relevant app store.

MetaTrader 4

• VPS hosting
• Nine timeframes
• One-click trading
• Complete trading history
• 30 built-in technical indicators
• Customizable charts and drawing tools
• Four pending order types and trailing stops
• Direct access to Expert Advisors (EAs) or build your own trading bots

Funded Account From Top Tier Trader

As far as prop firms go, it’s relatively simple to get funding from Top Tier. They rely on the standard challenge model that most of the top firms rely on. In essence, you must pass a 2 stage test and if successful you will be awarded funding. If you fail, you’ll lose the refundable registration fee and have to repurchase if you are looking to try again.

So, what does the challenge entail?

Stage 1 – 10% Profit Target

The first stage is very simple, you must reach 10% profit on the account. You’ll have 30 days to do this, with a maximum total loss of 10% and a maximum daily loss of 5%. If you violate the daily or maximum loss, your account will be terminated. You also have 1:100 leverage for this, which is a huge amount and certainly gives you all of the tools you may need!

Stage 2 – 5% Profit Target

The second stage is again, very simple and actually much easier than the first stage. You’ll have 60 days to make a 5% profit on the account, with 5% maximum daily drawdown and a maximum loss of 10%. This is very easy to hit and if you managed to get through stage 1, this should be no problem for you. If you fail, you’ll lose the account and the refundable fee. If you pass, you’re now funded!

You would then get sent the login details for your new funded account! Once trading on this account, you won’t have a profit target anymore but the daily loss and maximum loss rules will still apply. Violating these rules will result in losing your account.

In short, getting funding from Top Tier Trader is realistic. They use the same challenge model as pretty much all of the top forex prop firms, so if you can’t get funding here, you will struggle anywhere! The only companies that make funding easier. These companies offer instantly funded accounts. They will cost slightly more, however, there’s no chance of failing the challenge and you can get started trading right away!

Regular Top Tier Challenge evaluation program account rules

• Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10%, while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
• Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
• Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
• Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 7 minimum trading day requirement. Funded accounts have no minimum trading day requirements.
• Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
• No weekend holding means that traders are not allowed to hold open positions during the weekends.
• No EAs allowed means that traders are not allowed to use any type of EA services.
• No copy trading allowed means that traders are not allowed to use any type of copy trading services.

Swing Top Tier Challenge

Swing Top Tier Challenge evaluation program account aims to identify serious, and talented traders, who are rewarded for their consistency in the two-phase evaluation period. The evaluation program account allows you to trade with 1:30 leverage.

• Profit target is a specific percentage of profit that a trader is required to obtain before they can complete an evaluation phase, withdraw profits, or scale their account. Phase 1 profit target is 10%, while phase 2 has a profit target of 5%. Funded accounts have no profit targets.
• Maximum daily loss is the maximum loss a trader can reach on a daily basis before the account is violated. All account sizes have a maximum daily loss of 5%.
• Maximum loss is the maximum loss a trader can reach overall before the account is violated. All account sizes have a maximum loss of 10%.
• Minimum trading days is the minimum period which you are required to trade for before you can complete an evaluation phase, or request a withdrawal. Both phases have a 7 minimum trading day requirement. Funded accounts have no minimum trading day requirements.
• Maximum trading days are the maximum period in which you are required to hit a specific profit target or withdrawal target. Phase 1 has a maximum of 30 trading days period while phase 2 has a maximum of 60 trading days period.
• No EAs allowed means that traders are not allowed to use any type of EA services.
• No copy trading allowed means that traders are not allowed to use any type of copy trading services.

Fees

Due to the fact that there are 4 distinct programs, there are also 4 different prices. You may choose between the TopTier Challenge, the Regular, or the Swing. In addition, TopTier Challenge Plus, Regular, and Swing are also available.

The TopTier Challenge regular fee to get $25,000 in funding is $255. Since the previous time that we analyzed their pricing, there has been a reduction in the cost. This is the new price structure that they have implemented. Next up comes the $50,000 funding which will set you back $350. The $100,000 funding option costs $560. The last and most expensive funding option is $200,000, and it will set you back $999. If you pass the challenge, your fees will be refunded. However, if you don’t, there will be no refund. In the event that you decide to do it again, you may always repurchase the challenge.

 

The TopTier Challenge Plus allows the use of expert advisors and has different leverage, profit target, and drawdown from the standard Challenge. The TopTier Challenge Plus is offered at a slightly reduced price. The table below shows that the $25,000 account has a leverage of 1:100, whereas the standard Challenge account only has a leverage of 1:30. When compared to the standard Challenge account’s 10% profit target and 10% maximum drawdown, this one has far more conservative goals. A further distinction is that EAs may be used in the TopTier Challenge Plus.

 

 

Conclusion 

In summary, Top Tier Trader is a great prop firm offering funded forex accounts to traders around the world. The company has a great scaling plan, account sizes to suit all traders, 1:100 leverage and weekend holding is allowed! It’s clear to see how the company has such a flawless reputation in the industry and I have a feeling they will be a contender for some of the top spots in our ranking list in the next year.

FAQ

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