- None
- They will ban you for using SocialTraderTools
- Chat reps are not knowledgeable at all
- nt
- A lot of complaints over refusal to payout profits
- A lot of complaints over wild spreads and slippage
- They randomly moved traders from MetaTrader to Tradelocker without notice
- Hidden rules
TopTier Trader is a relatively new player to the scene, starting in 2021. While we hold nothing against newcomers—after all, everyone has to start somewhere—our concerns do not end there. TopTier Trader, as evident in their own comparison table, offers nothing unique. Furthermore, they have significant flaws that prevent us from recommending them.
Their own comparison clearly highlights TopTier Trader’s sole advantage lies in its lower cost, which is only applicable with a coupon. Yet, this is a misrepresentation. FTMO currently costs about $587 (based on current currency conversion rates), but the pricing for TopTier Trader’s evaluation is misleading. They charge extra for the privilege of trading over weekends, trading news, using 1:100 leverage, or use of EAs. Opting only for the “Double Leverage” and “Weekend Trading” add-ons brings our total to $568, which is a mere $19 less than FTMO. Does a saving of $19 justify opting for a prop fund with a low reputation?
The TopTier Trading Challenge
Their challenge is pretty much a clone copy of FTMO. If you aren’t in the USA, we highly suggest you choose FTMO instead of TopTier Trader.
| $10K Account | Challenge Step 1 | Step 2 – Verification | Funded Trader |
| Time to Complete | Unlimited | Unlimited | Unlimited |
| Min. Trading Days to Pass | 4 Days* | 4 Days* | n/a |
| Max. Daily Loss*** | $500 (5%) | $500 (5%) | $500 (5%) |
| Max. Total Loss | $1000 (10%) | $1000 (10%) | $1000 (10%) |
| Profit Requirement | $1000 (10%) | $500 (5%) | none |
| Cost of Challenge | $130 | Free | Refunded** |
* If you fulfill all objectives except for the minimum trading days, you can place trades using a small lot size each day until you reach the required four trading days.
** To qualify for a refund, you must not only pass both steps of the challenge but also become eligible for a profit split. Your challenge fee will be refunded when you request your first withdrawal.
*** The maximum daily loss is a rule that if breached results in disqualification of your challenge. In contrast, The 5ers‘ daily pause only temporarily disables trading for that day without disqualifying your account. Just another reason to choose a trusted Prop Firm.
Fees and Spreads
TopTier Trader uses ThinkMarkets as their backend. We have conducted tests on ThinkMarkets using our own proprietary tool that evaluates the consistency of spreads, observing the lowest and highest spreads for each instrument. Presented here are the spreads during normal trading hours and also spreads observed between 3-5 PM EST. This analysis does not take into account extreme volatility, but rather reflects a typical trading day.
Spreads
Forex:
| INSTRUMENT | Average Spread | Lowest Spread | Highest Spread |
| EURUSD | 0.00011 | 0.00011 | 0.00011 |
| GBPUSD | 0.00014 | 0.00016 | 0.00012 |
| USDCHF | 0.00015 | 0.00014 | 0.00016 |
| USDJPY | 0.014 | 0.014 | 0.014 |
| EURJPY | 0.005 | 0.003 | 0.009 |
| GBPJPY | 0.004 | 0.002 | 0.011 |
Crypto, Metals, Indices:
| INSTRUMENT | Average Spread | Lowest Spread | Highest Spread |
| XAGUSD | 0.022 | 0.019 | 0.031 |
| XAUUSD | 0.09 | 0.08 | 0.15 |
| UK Oil | 0.030 | 0.030 | 0.04 |
| US Oil | 0.030 | 0.030 | 0.030 |
| NAS 100 | 1.17 | 1.10 | 1.86 |
| S&P500 | 0.40 | 0.40 | 0.40 |
| UK 100 | 0.90 | 0.90 | 0.90 |
| US 30 | 1.24 | 1.20 | 2.04 |
| JPN 225 | 5 | 5 | 5 |
| BTCUSD | 35.50 | 29.50 | 39.20 |
| ETHUSD | 1.84 | 1.62 | 1.98 |
| DAX40 | 0.66 | 0.60 | 0.90 |
Commissions
TopTier Trader charges $7 per lot for Forex trading. While it’s not explicitly stated that this fee is for a round turn, it’s reasonable to assume so. Even if this is a round turn, TopTier Trader has positioned themselves as one of the most expensive prop funds in terms of Forex trading commissions.
Commissions on Crypto, Indices, and Commodities are all $0 per lot.
Prop Fund Fees
TopTier Trader does not charge any fees apart from the evaluation/challenge cost. There are no fees associated with withdrawing profits or maintaining your funded account.
Restrictions
When registering for an account, you have the option to pay extra for “add-ons” which permit trading over news periods, during weekends, using 1:100 leverage, and employing Expert Advisors (EAs). These add-ons incur additional costs. Therefore, if you opt not to purchase these add-ons, be aware of the restrictions that will apply to your account.
Verdict
Overall, TopTier Trading falls short on every level. Their spreads are unimpressive when compared to competitors like FTMO or The 5ers. Their commissions are exorbitantly high, twice what top-tier prop firms charge, which is ironic given their name. Also, there’s a troubling history of them refusing to pay out substantial profit splits.
Therefore, TopTier Trading is adjudged as a prop firm fraught with risks, lacking any discernible advantages or benefits when compared to other firms in the industry.
TopTier Trader Details
