TopTier Trader Forex prop firm review – Are The Lowest fees legit?

In today’s fast-paced world, the proprietary trading sector is growing rapidly, attracting thousands of traders for a chance to gain access to funded accounts. TopTier Trader proprietary trading firm was launched in 2021 and has been offering funded accounts ranging from 5k to 300k USD.

Finding a reliable prop firm is just the beginning of the prop firm selection process. Traders often have to check many different conditions such as rules, assets, funded options, platforms, support, and more. In this TopTier Trader review, we are going to assess the firm’s critical features to define whether you can trust them.

?️Safety & Security of TopTier Trader

TopTier Trader prop trading firm was launched in 2021 making it relatively experienced in the industry. This is always a good sign for any prop trading firm. The firm is transparent about its management and is based in the USA adding to its legitimacy. There is also phone support available, offered in more than 5 languages, meaning the firm is not shy to hide its number. This is one of the legitimacy criteria during prop firm evaluation.

The firm has no trader comments or reviews on the FPA, in fact, TopTier Trader has not even been added to the FPA database yet. Trader reviews are critical to assess the real reliability of the prop firm. On the Trustpilot, TopTier Trader has positive reviews with 5% of traders assessing the firm with 1-star. With around 89% of traders evaluating TopTier Trader as a reliable prop firm, the firm should be offering a reliable environment.

Overall, TopTier Trader prop firm has decent experience in the industry, and lacks regulated broker support, but is very transparent about all of its features and provides everything on the website. The firm can be considered an average prop firm when it comes to safety.

? Available Assets on TopTier Trader

TopTier prop firm offers diverse asset classes to its traders, such as Forex pairs, commodities, indices, and cryptos. While the firm lacks stocks, these assets are still very decent and should allow FX traders to find all their preferred instruments.

Asset diversity is very important when trading Forex, to quickly find preferred instruments and capitalize on market opportunities.

The exact number of trading assets is as follows:

• Forex – 55
• Commodities – 9
• Indices – 9
• Cryptos – 31

All these assets can be traded on the TradeLocker trading platform.

?️ TopTier Trader Account Types

TopTier Trader proprietary trading firm lacks funded account diversity which is a downside. The firm only offers one 2-step account which is super underwhelming. Traders have to pass two different phases of evaluation because they can access the funded account, making it a lengthy process. This account also has strict rules with minimum trading days being at least 4 days.

TopTier Trader funded options include 5k, 10k, 25k, 50k, 100k, 200k, and 300k funded options. While these options offer traders a diverse choice of different options, they are only offered in one funded account type where traders have to pass the lengthy process to get funded. The firm was offering MT4 and MT5 platforms but recently abandoned them and only offers the TradeLocker platform. What this means is that TopTier Trader is acting as a broker and offers trading platforms that are designed for demo trading and not live.

The maximum leverage allowed by TopTier Trader is 1:100 with a profit target of 10% and 5% on 1st and 2nd phases. The maximum loss limit is 10% at all phases, and the daily loss limit is capped at 5%, also for all challenge phases.

? TopTier Trader 2-stage accounts allow traders to hold positions overnight and over the weekends. EAs or Expert Advisors are allowed but it is not clear how this is possible via TradeLocker which is still in its development stage.

? TopTier Trader trading fees

When it comes to fees, traders have to pay one-time fees for the challenge and they can either select from preset features or build custom funded accounts. For example, the preset for New Trader costs 96.20 USD for the lowest 5k account. This is very expensive. Traders can also choose the Experienced Trader preset of features that cost 105 USD for the 5k account. There is also a professional preset with a cost of 120.25 USD for the 5k accounts.

? The most appealing idea is to build a custom account according to your preferences, where each of the following features can be purchased:

• Allowed Feature: Express Payout (14 days) – fee: 13 USD
• 90/10 profit split – 16.25 USD
• EAs Allowed – 3.25 USD
• Reduce Profit target to 8% – 8.45 USD
• Double leverage – 9.75 USD
• Weekend trading/ holding – 6.50 USD
• News trading – 9.75 USD
• No minimum trading days – 6.50 USD

? The accounts themselves when all the above-mentioned features are turned off are as follows:

• Funded amount: 5,000 USD – One-time fee: 65 USD
• 10,000 USD – 129 USD
• 25,000 USD – 229 USD
• 50,000 USD – 335 USD
• 100,000 USD – 499 USD
• 200,000 USD – 975 USD
• 300,000 USD – 1,345 USD

Overall, TopTier Trader prop trading company has increased its prices recently and is now an expensive firm to apply. The fees are higher than what other reliable firms offer, making TopTier Trader offerings mediocre at best. TopTier Trader free trial is not offered and TopTier Trader free repeat is also not available at the moment as well.

? Platforms and Mobile Trading at TopTier Trader

The firm partnered with an offshore broker which was unregulated and offered MT4 and MT5 platforms. However, TopTier Trader is no longer associated with the unregulated broker and offers TradeLocker as the only trading platform.

While TradeLocker is an advanced platform, it still is in the development stage and lacks many important features. MT4 and MT5 are both much more advanced and capable platforms. If the developers continue to develop TradeLocker then it might get a chance to become a popular prop trading platform.

TopTier Trader TradeLocker is available for all devices including both Desktop and mobile. Android and iOS apps as well as Desktop installation files can be downloaded directly from the firm’s website. TopTier Trader TradeLocker mobile apps allow traders to analyze and trade markets on the go and have numerous built-in indicators.

? Education and research tools offered by TopTier Trader

Educational resources are useful for beginner traders to understand basic trading concepts and important terms. TopTier Trader offers a mediocre educational experience, as it lacks trading courses, webinars, and video content. However, there are trader blogs and trader quizzes allowing traders to get some information about financial trading and themselves. Trader Quiz allows traders to understand what kind of traders they are by offering a quiz.

TopTier Trader trading blog consists of several tabs ordered by topics, such as Latest, Updates, FX Summit, Market Watch, Meet Ups, Traders, and Trading Tips. These tabs allow traders to browse the topic they are interested in and read blog posts. There is also an introduction to Forex trading terminology which can be very useful for novice traders trying to grasp the essential slang and terminology of financial trading.

However, the TopTier Trader blog is still not a comprehensive replacement for proper educational resources. Additionally, the firm does not offer any trading tools to assist its traders.

? Customer Support of TopTier Trader

Customer support experience is one of the critical factors when evaluating the reliability of prop trading firms. Without the ability to contact the firm quickly to resolve any issues with trading, prop trading can become very difficult, especially for beginners.

TopTier Trader offers several support channels. There is a live chat that has a help center built-in providing quick answers for all important questions. Traders can use this live chat to quickly contact the firm. Both the website and the support are available in three different languages, which is decent but not enough to call the firm an international brand.

TopTier Trader also offers email and hotline support options. The availability of a phone number is an important factor when assessing the firm’s legitimacy and TopTier Trader discloses its phone number which is always a good sign.

Frequently Asked Questions