- Over 4k Trustpilot reviews at 4.9/5 with exceptional 24/7 customer support.
- Trading Psychologist available, scaling plan, and CEO's public visibility.
- Free trial, infinite evaluation retries, and bi-weekly payments at 80%-90% profit.
- Flexible trading: no cap on duration, minimum 4 days, 1:100 leverage, and diverse tools.
TopTier Trader
- Established Leadership with 4.9/5 Trustpilot score from 2k+ feedbacks
- Financing up to $600,000 with scaling model to $2M
- 80% to 90% revenue division and 1:100 margin
- Comprehensive market instruments: forex, commodities, indices, and crypto
- Trading allowed during weekends and news events.
Cons ❌
FTMO
- Educational videos suit beginners more
- Maximum of 2 accounts at $200,000 each
TopTier Trader
- Equity-driven drawdown on TopTier Plus accounts
- EAs are disallowed on TopTier accounts
- No weekend retention on regular TopTier accounts
Rules 📋
FTMO
Maximum Daily Loss, Maximum Loss, Minimum Trading Days, No News Trading, Profit Target, Third Party Copy Trading Risk, Third Party EA Risk
TopTier Trader
Lot Size Limit, Maximum Daily Loss, Maximum Loss, Maximum Trading Days, Minimum Trading Days, No Copy Trading Allowed, No EAs Allowed, No Martingale Allowed, Profit Target
FTMO has established itself as a highly reputable proprietary trading firm since its inception in September 2015. With more than 4,000 Trustpilot reviews averaging a stellar 4.9 out of 5, the firm prioritizes trader satisfaction. Notably, FTMO offers exceptional 24/7 customer support, an accessible trading psychologist, and a CEO with a strong public presence. This not only signals reliability but corroborates the prop firm's commitment to its traders' success.
FTMO's free trial and unlimited evaluation retries offer a strategic edge for new traders aiming to join the firm without the pressure of initial success. Their bi-weekly payouts, ranging from 80%-90% profit share, are generous within the industry. Additionally, their trading conditions are flexible and inclusive of diverse tools, with 1:100 leverage, encouraging traders to operate with confidence and freedom.
On the flip side, while FTMO's educational content is abundant, it leans more towards beginner-level traders, possibly leaving experienced traders desiring more advanced material. Moreover, the cap on account size, maxing out at $200,000 each for a limit of two accounts, may restrict traders looking for higher capital allocations.
Overview of TopTier Trader
Establishing a strong foothold quickly since its incorporation in October 2021, TopTier Trader comes with reputable leadership and a Trustpilot score on par with FTMO, reflecting high trader satisfaction. This firm sets itself apart by offering financing up to $600,000 with a scaling plan that has the potential to grow to a sizable $2 million position.
One of TopTier Trader's significant advantages is the ability for users to trade a comprehensive range of market instruments, including forex, commodities, indices, and crypto. More notably, traders can also operate during news events and weekends, which can be particularly advantageous for those who specialize in such trading strategies.
Whereas FTMO has strong educational support, TopTier Trader champions an equity-driven drawdown calculation for its TopTier Plus accounts, which could be attractive for traders utilizing certain strategies. However, TopTier has certain limitations such as the prohibition of EAs on TopTier accounts and no position holding over weekends for regular accounts, which could be a setback for some strategies.
Comparison of Fund Management Rules
Both FTMO and TopTier Trader enforce stringent rules to manage risk effectively. FTMO's rules include maximum daily and overall loss limits, a minimum number of trading days, profit targets, and restrictions on news trading to maintain market integrity. TopTier Trader similarly imposes lot size limits, max daily/overall loss, and profit targets, but uniquely specifies max trading days, with a ban on copy trading, EAs, and martingale strategies.
Financial Transactions: Deposits and Withdrawals
When it comes to handling your finances, FTMO offers more flexibility than TopTier Trader. FTMO facilitates deposits via bank wire transfers, credit/debit cards, and crypto, whereas TopTier Trader limits deposits to credit/debit cards and crypto transactions. For withdrawals, FTMO maintains its bank wire transfer option along with crypto, offering a reliable traditional banking method amidst the burgeoning crypto withdrawals.
Account Sizes and Trading Instruments
FTMO's range of account sizes is notably extensive, with options available in multiple currencies and denominations, accommodating a wide variety of traders’ preferences. Conversely, TopTier Trader is more USD-centric in both account sizes and currencies, possibly limiting global appeal. Both prop firms facilitate trading across numerous financial instruments, though FTMO has a slight edge with the inclusion of bonds and stocks in their offerings.
Summary and Unique Perspectives
FTMO and TopTier Trader both stand out in the prop trading space, they offer robust trading environments with high profit-sharing models. FTMO leads with a slightly better educational backbone and a longer track record, offering peace of mind to the risk-averse trader. Meanwhile, TopTier Trader is quickly catching up, boasting high capital potential and fewer restrictions on trading times.
For heavy-hitters looking for high capital leverage and less conventional trading opportunities, TopTier Trader might be the go-to, while FTMO seems to be a better fit for those who value established protocols, diverse asset classes, and educational support. The choice ultimately hinges on individual trader preferences, risk appetite, and particular strategy requirements.
