TopTier Trader Review with Rankings 2024 By Dumb Little Man

“Proprietary trading firms”, or simply a prop firm, is focused on trading financial assets with their funds. Prop firms do not handle client cash or provide financial advice, in contrast to traditional investment firms. Their main priority is making direct money from trading activities.

In this context, TopTier Trader appears as an assessment firm that seeks to discover experienced traders. They use a two-tier evaluation method to carefully examine a trader’s qualifications, making sure that only those who possess the necessary experience advance.

This TopTier Trader review focuses on user ratings and professional trading industry insights from experts like Dumb Little Man. The objective is to offer a thorough grasp of TopTier Trader’s assessment procedure and its efficacy in the prop trading industry.

What is TopTier Trader?

TopTier Trader is an evaluation company focusing on the discovery and development of experienced traders. Their approach includes a 2-Tier evaluation process designed to assess a trader’s abilities rigorously.

Successful candidates, upon passing this evaluation, are offered a position at the Top Tier Proprietary Trading Firm.

Here, they can manage funds remotely, with the opportunity to grow their account through a structured scaling plan. As a noteworthy benefit, traders are entitled to keep 80% of the profits they generate, while the company absorbs any potential losses.

Strict post-evaluation compliance with the policies is required by the organization. Traders must close all positions and are not allowed to make changes to their accounts after passing Tier 1 or Tier 2. Any changes made after the tier has been completed may render the account invalid and force a tier redo.

Furthermore, traders’ evaluation is considered unsuccessful if they breach any drawdown conditions, even after hitting the profit target. In some situations, to be eligible again, individuals had to buy another evaluation.

With its flexibility in trading options, TopTier Trader lets users trade a wide range of products, including indices, cryptocurrencies, commodities, and currency. Lot sizes are unrestricted, giving dealers a great deal of leeway in their trading tactics.

The Top Tier Funding program requires participants to be at least eighteen years old.

A “Time Extension” can be purchased by traders who fail to fulfill the Tier 1 profit target within the allocated period. This extension is accessible under certain situations, such as following the rules and not being eligible for a retry. It extends the challenge by 15 days.

Nevertheless, by choosing this extension, the trader forfeits their right to a refund in the event of their death; instead, the extension price is reimbursed.

Additionally, the firm’s policy allows for trader-friendly features including news trading and enabling positions to be retained over weekends. Regarding retries, a trader is entitled to one if they achieve the minimum trading days required and finish Tier 1 or Tier 2 in profit without going over loss limitations.

There are no retries in other situations; instead, the Tier 2 retry begins at Tier 1. It is necessary to buy a new evaluation if the retry fails.

Crucially, TopTier Trader is subject to some limitations. Expert Advisors (EAs) are not allowed to be used, and copy trading is strictly prohibited. The account holder must personally carry out all trading activity; failure to do so will result in the loss of funded and evaluated accounts.

Pros and Cons of TopTier Trader

Pros:

• Structured Evaluation Process
• Variety of Account Types
• Comprehensive 24/7 Customer Support
• High 80% Profit Share
• Community Support via Discord
• Flexible Trading Options
• Potential for Advancement through scaling plan

Cons:

• Strict Evaluation Requirements
• Limited Leverage Options
• Particular Regarding Withdrawals
• No Use of Expert Advisors (EAs)

Safety and Security of TopTier Trader

A prop firm like TopTier Trader isn’t required to be licensed as it doesn’t bring its traders’ positions to the interbank market, unlike the brokers. However, since it partnered with Vital Markets, it is essential to take a look at it in terms of security.

The offices of Vital Markets are located in the Commonwealth of Dominica, per their official website. They offer a range of trading financial assets, including equities, indices, commodities, currencies, and cryptocurrencies.

Vital Markets has a range of account categories, including as VIP, Fixed Spread, Micro, and ECN/STP, to support various trading styles. They also provide leverage up to 1:500, which increases both the danger and the profit potential.

It is crucial to keep in mind that Vital Markets are not overseen by any reputable regulatory organization. Concerns about the prevention of money laundering, consumer safety, fund segregation, and dispute resolution are already present, and this lack of regulation makes them worse.

The lack of regulatory control suggests that consumer protection laws and regulations are not being complied with. Transparency problems are made worse by the company’s neglect to provide basic contact information on its website, such as its name, address, and phone number.

TopTier Trader Bonuses and Contests

Through thrilling monthly tournaments, TopTier Trader promotes community and gives traders a chance to demonstrate their abilities in a competitive setting. These competitions seek to identify talented people and provide noteworthy prizes to the winners.

The regulations of the competition are simple and unambiguous. The highest profit percentage earned determines the winner. The competition maintains a 10% maximum daily drawdown and a 10% maximum overall drawdown limit to promote risk management and fair play.

Participants must engage in trading for a minimum of four days. The awards scheme is highly motivational, with multiple tiers of difficulty for the top eight finishers. The winner in first place will receive a 100k Plus Challenge, and the runners-up will receive 50k Plus Challenges apiece.

Fourth, fifth, and sixth place finishers will get a 25k Plus Challenge while sixth through eighth place finishers will get a 10k Plus Challenge. With these prizes, successful traders have an amazing chance to advance in their careers and become well-known within the trading world.

TopTier Trader Customer Reviews

With an amazing 4.6 rating on Trustpilot, TopTier Trader’s client reviews reflect a variety of experiences. Customers have had a wide range of experiences, from being pleased with modifications to their account platform and money management to being pleasantly surprised by prompt refunds and professional assistance.

The divergent viewpoints that the company’s customer base has voiced are highlighted by these diverse experiences.

TopTier Trader Commissions and Fees

The charges and costs charged by TopTier Trader are designed to be in line with the specialized needs of running a prop firm, especially for those who are permitted to hold trades over the weekend and overnight.

Regarding leverage, TopTier Trader offers varied levels for different challenge types and instruments. For the TTT Challenge Regular, leverage is set at 1:100 for Forex, 1:40 for Gold & Commodities, 1:30 for Indices, and 1:2 for Crypto.

The TTT Challenge Swing reduces leverage to 1:30 for Forex, 1:10 for Gold and Commodities, 1:5 for Indices, and 1:1 for Crypto. The TTT Challenge Plus mirrors the Regular challenge in terms of leverage.

There is no lot size limit on any pair, offering traders the flexibility to trade with any lot size across all pairs.

In terms of allowed instruments, traders with TopTier Trader can engage with any instrument available on the ThinkMarkets trading platform, including forex, commodities, indices, and crypto. Forex, Gold, and Silver pairs are identified with an “x” suffix, while commodities, indices, and crypto do not have a suffix.

Spreads can be checked using the provided MT4 and MT5 credentials, with detailed instructions and links for downloading these platforms. It’s important to note that the “x” suffix is relevant for checking Forex, Gold, and Silver pairs.

The commission structure includes a charge of $7 per lot for Forex & Metals, while Commodities, Indices, and Crypto are charged $0 per lot.

All accounts at TopTier Trader are demo accounts, even for funded traders. These demo accounts are connected to a master live account for executing trades in the live market via copy trading software. This approach is standard in the industry for a funded account and is also a measure to manage risk more effectively.

Traders are expected to manage these demo accounts as if they were live, with a note that hypothetical or simulated performance results have limitations and do not represent actual trading.

These results may not take into account certain market factors like liquidity. No representation is made that any account will or is likely to achieve profits or losses similar to those shown in simulated results.

TopTier Trader Account Types

Based on research conducted by the team at Dumb Little Man, here’s a clear and organized list of TopTier Trader account types, all based on a $5K account size and within their specific challenge and account types. More account sizes are available at the official website ranging form $5k to $300K.

Top Tier Challenge

This challenge type is composed of two funded account types, the Regular and Swing trading accounts, with three tiers each, as can be seen below:

Regular Account

• Tier 1
  • Trading Days: Unlimited
  • Minimum Trading Days: 4
  • Challenge Leverage: 1:100
  • Max Loss: $500 (10%)
  • Max Daily Loss: $250 (5%)
  • Profit Target: $500 (10%)
  • Weekend Holding: No
  • EA’s Enabled: No
  • Refundable Fees: $70
• Tier 2
  • Similar conditions as Tier 1, but the Refundable Fees are free.
• Tier 3
  • Similar conditions as previous tiers, but there is no Profit Target and Refundable Fees will be refunded.

Swing Trading Accounts

• Tier 1
  • Trading Days: Unlimited
  • Minimum Trading Days: 4
  • Challenge Leverage: 1:30
  • Max Loss: $500 (10%)
  • Max Daily Loss: $250 (5%)
  • Profit Target: $500 (10%)
  • Weekend Holding: Yes
  • EA’s Enabled: No
  • Refundable Fees: $70
• Tier 2
  • Similar conditions as Tier 1, but no weekend holding, and refundable fees are free.
• Tier 3
  • Similar conditions as previous tiers, but Weekend Holding is allowed, and Refundable Fees will be refunded.

Top Tier Challenge Plus

This challenge type only has three tiers as can be seen below:

• Tier 1
  • Trading Days: Unlimited
  • Minimum Trading Days: 4
  • Challenge Leverage: 1:100
  • Max Loss: $400 (8%)
  • Max Daily Loss: $250 (5%)
  • Profit Target: $400 (8%)
  • Weekend Holding: Yes
  • EA’s Enabled: Yes
  • Refundable Fees: $80
• Tier 2
  • Similar conditions as Tier 1, but the Profit Target is $250 (5%), and the Refundable Fees are free.
• Top Tier Trader
  • Similar conditions as previous tiers, but there is no Profit Target, and Refundable Fees will be refunded.

Opening a One-Up Trader Account

To open a TopTier Trader account, follow these 8 simple steps:

1. Go to the ‘Sign Up’ option on the TopTier Trader website.
2. Type your email address into the designated space.
3. Look for a verification email from TopTier Trader in your inbox.
4. From the email verification, select the ‘Complete Registration’ link.
5. Enter your name, password, and other personal information in the registration form.
6. Verify that you are eighteen years of age or older.
7. To create your account, select “Confirm Registration”.
8. Start trading after selecting the challenge kind and amount that best suits your needs.

TopTier Trader Customer Support

Dumb Little Man has studied and experienced the excellent customer support system that TopTier Trader offers. The support options offered by them are tailored to meet the various requirements of traders.

Because of the company’s 24/7 chat support, help is guaranteed at all times. Traders that operate across multiple time zones or need assistance outside of regular business hours may find this especially helpful.

Traders can also give TopTier Trader a call at 888-396-8550 for immediate, individualized help. For urgent issues, you can communicate with the support team in real-time thanks to this direct line.

In addition, clients can email support@toptiertrader.com with less urgent questions or requests for more thorough comments.

The TopTier Trader website has a comprehensive FAQ section that provides short answers to frequently asked issues. This is a useful resource for traders looking for current information.

Traders can interact with other traders and ask the trading community for guidance by joining the TopTier Trader Discord channel, which offers a community-driven support experience.

Last but not least, the website’s live chat tool enables users to communicate instantly with customer care agents, offering a quick and simple way to ask specific questions or request assistance.

Advantages and Disadvantages of TopTier Trader Customer Support

TopTier Trader Withdrawal Options

There are certain rules to follow while using TopTier Trader’s withdrawal choices for Funded Regular accounts, as confirmed by a specialist at Dumb Little Man.

A trader must wait 30 days after the date of their first trade and make sure there are no open deals on the account before requesting a payout for the first time. This first time frame is essential for qualifying.

To get payouts in the future, you must wait 14 days following the last payout to make your first transaction and ensure that your account is free of open trades when you make the request.

TopTier Trader offers BTC and Wise as payout options. Payouts are normally processed within 3 to 5 business days after the trader confirms the payout amount and details. It is required for those who choose Wise to have a Wise account connected to the email address they registered with on the TopTier Trader platform.

It is noteworthy that traders are accountable for any transaction expenses related to the payout procedure. While the payout is being processed, the account will be put in read-only mode.

Furthermore, only accounts that have successfully finished their KYC verification with the verification partner, Sumsub, are eligible to receive payments. Remember that a trader who breaches the rules of their funded account will not be eligible for a reward, regardless of the account’s performance.

TopTier Trader Challenges and Difficulties

The TopTier Trader evaluation procedure culminates with the chance for a trader to join their prop business, testing and refining their skills and discipline over a series of events across multiple tiers.

Tier 1 Challenge

The Tier 1 Challenge kicks off the evaluation process for TopTier Traders. In order to advance, traders must exhibit their trading prowess and discipline. The most important two are following a systematic trading plan and managing risks effectively. To be eligible for the Tier 2 Challenge, you must successfully complete this tier.

Tier 2 Challenge

Tier 2 is the assessment’s last verification level. You will be qualified to join the TopTier Proprietary Trading Firm if you complete this tier successfully and meet all conditions. Because this stage is critical to determining whether or not traders are a suitable fit for the organization, it is advised to stick with cautious trading techniques.

Advancing to TopTier

Both stages must be completed for you to join the TopTier Proprietary Trading Firm. Upon achieving this goal, traders may be eligible to join the company as employees and get up to 80% of their earnings. At this juncture, ethical and trustworthy trading could also facilitate the company’s expansion plan, hence enhancing employment opportunities in trade.

How to Pass TopTier Trader Evaluation Process

The TopTier Trader review process has strict requirements and performance expectations, which makes it challenging to navigate. For prospective traders to be successful in this process, they must possess the necessary knowledge and trading strategies.

The advantages of a rigorous training program start to show at this point. Becoming involved in a program such as this enhances your capacity to understand and meet the requirements of the TopTier Trader prop firm exam.

By acquiring the skills, knowledge, and self-control required to complete the assessment phases with the aid of a well-designed training program, you can ensure that you’re ready for the challenges that lie ahead.

Asia Forex Mentor – Rated Best Comprehensive Course Offering by Investopedia

Asia Forex Mentor, named Investopedia’s best complete course, is highly recommended for individuals preparing for the TopTier Trader evaluation process. It is great for traders who are serious about achieving the difficult challenge of this prop firm, as recommended by the professionals at Dumb Little Man.

Ezekiel Chew, a respected forex trading specialist with over two decades of experience and a track record of six-figure deals, created the platform. His One Core Program, a key component of Asia Forex Mentor, focuses on teaching profitable forex trading strategies.

Ezekiel launched Asia Forex Mentor by educating friends and has now extended online, supporting ambitious traders in their professional development.

How Could Asia Forex Mentor Help You Pass TopTier Trader Challenge?

For individuals looking to pass TopTier Trader Evaluation Process, Asia Forex Mentor stands out as a very reliable and successful platform. Its popularity in the field of financial education is evidence of its capacity to help traders achieve success.

Best Comprehensive Course Offering: Awarded by Investopedia, a leading financial content website, Asia Forex Mentor’s One Core Program is recognized as the most comprehensive Forex course available. This recognition underscores the depth and breadth of the program, making it an ideal learning tool for those preparing for E8 Funding’s evaluation.

Best Forex Trading Training: The One Core Program was named the best trading training for beginners by Benzinga, a well-known source of financial, economic, and stock market news. Benzinga’s endorsement of the software underlines its usefulness for traders of all skill levels, from novice to advanced.

Best Forex Mentor: Asia Forex Mentor was recognized as the top forex mentor in 2021 by the BestOnlineForexBroker website, underscoring its capacity to assist traders in realizing substantial profits from the foreign exchange market. This recognition strengthens the validity and efficacy of the mentorship.

Top Forex Trading Courses: Asia Forex Mentor was ranked first in a comprehensive analysis conducted by prominent forex traders and platforms for its effective trading strategies and systems.

These awards and recognitions attest to the One Core Program’s ability to meet and exceed the expectations of both novice and seasoned traders. Traders preparing for Funding Traders’ tasks should enroll in Asia Forex Mentor to prepare themselves with great ways and insights.

Asia Forex Mentor Members’ Testimonials

Asia Forex Mentor members’ testimonials emphasize the value of Ezekiel Chew’s One Core Program for successful forex trading instruction. The application is praised for being user-friendly and educational, supporting novices alike.

It offers useful abilities and workable tactics that increase trading confidence. Because of the program’s contribution to their trading performance, participants heartily endorse it.

>> Also Read: Asia Forex Mentor Review By Dumb Little Man

Conclusion: TopTier Trader Review

To end this TopTier Trader review, this prop firm offers professional traders a structured and dynamic platform. A wide range of trading styles and skill levels are catered to by its systematic evaluation procedure and variety of account types. The prospect of achieving a substantial 80% profit share and the ability to progress professionally via its expansion strategy are noteworthy draws.

The platform’s strict assessment standards and constrained leverage choices, however, may present difficulties for certain traders. Certain trading techniques may also be restricted by the withdrawal requirements and the prohibition on using Expert Advisors (EAs).

All things considered, this prop firm presents a significant chance for traders to advance and make money in the trading world—that is if they are ready to handle its stringent assessment procedure and can adjust to its trading limitations.

>> Also Read: Glow Node Review with Rankings 2024 By Dumb Little Man

TopTier Trader Review FAQs

What is the role of a prop firm in the TopTier Trader program?

A prop trading firm lowers traders’ own financial risk by providing them with a funded account to trade in the TopTier Trader program. In addition to other factors, traders are assessed according to their capacity to reach profit targets.

How does TopTier Trader handle profit sharing?

For traders using a funded account, TopTier Trader, a prop firm, offers up to an 80% profit split. Numerous top-tier trader reports have made clear that this is a component of their incentive system.

Can anyone join the TopTier Trader program?

Joining TopTier Trader requires passing a structured evaluation process. It’s not open to everyone immediately; aspiring traders must demonstrate their skills to manage a funded account effectively.