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Understanding Overleveraging: A Risk Management Perspective

Introduction:

Overleveraging represents a significant risk in financial trading, often leading to substantial losses and destabilizing the trading environment. This article explores the concept of overleveraging, its implications for traders, and the importance of implementing effective risk management measures at TopTier Trader.

What is Overleveraging?

Overleveraging occurs when traders utilize excessive levels of leverage relative to their account size and risk tolerance. Leverage allows traders to control larger positions with a smaller amount of capital, magnifying both potential gains and losses. However, when leverage is used irresponsibly, it can amplify the impact of market fluctuations, leading to significant capital erosion.

Trigger Explanation:

The trigger point for overleveraging is determined by the relative risk to the account’s daily drawdown limit. If the accumulated risk exceeds a certain percentage of the initial daily drawdown, it indicates a violation of prudent risk management practices.

  • Forex and Major Currency Pairs: A violation occurs if the total open position generates a profit or loss greater than 25% of the initial daily drawdown within a 10-pip movement.
  • Cryptocurrencies: A violation occurs if, for every $500 movement in price, the total asset position generates a profit or loss greater than 20% of the initial daily drawdown.
  • Indices: A violation occurs if, for every $10 movement in price, the total asset position generates a profit or loss greater than 12.5% of the initial daily drawdown.
  • Metals and Commodities: A violation occurs if, for every 10 pip movement in price, the total asset position generates a profit or loss greater than 12.5% of the initial daily drawdown.

Simple Formula for Checking Threshold:

The formula for checking if a position exceeds the threshold for overleveraging is as follows:

Position Size × Price Movement × Pip Value ≤ Threshold Percentage × Initial Daily Drawdown 

Explanation of the Formula:

  • Position Size: The total number of contracts or lots in the trader’s position.
  • Price Movement: The threshold movement in price for the specific asset class being traded.
  • Pip Value: The value of one pip for the specific asset.
  • Threshold Percentage: The threshold percentage for the specific asset class being traded.
  • Daily Drawdown: The initial allowable daily drawdown for the trader’s account.

If the calculated value on the left side of the equation exceeds the threshold determined by the threshold percentage, it indicates a violation of prudent risk management practices.

Implications and Consequences:

Overleveraging poses significant risks to traders’ capital and the stability of the trading environment. Excessive leverage can lead to rapid and substantial losses, potentially wiping out a trader’s account. At TopTier Trader, overleveraging is strictly prohibited, and violations of this policy may result in severe consequences, including strikes, delayed payouts, reduced/rejected payouts, and ultimately, a ban from the platform.

Example 1: No Violation

Suppose a trader is trading EUR/USD with the following details:

  • Asset: EUR/USD
  • Total Position size: 3 standard lots
  • Pip value for EUR/USD: $10 (for 1 standard lot)
  • Price movement: 10 pips (threshold for forex and major currency pairs)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.25 × Initial Daily Drawdown 

∴ 3 × 10 × $10 ≤ 0.25

∴ $300 ≤ $2,500

Since $300 is less than 25% of the initial daily drawdown limit of $10,000 ($2,500), the total position size does not exceed the threshold. Therefore, it is not a violation of the overleveraging policy.

Example 2: Violation

Suppose a trader is trading Gold (XAU/USD) with the following details:

  • Asset: XAU/USD (Gold)
  • Total Position size: 35 standard lots
  • Pip value for XAU/USD: $10 (for 1 standard lot)
  • Price movement: 10 pips (threshold for metals and commodities)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.125 × Initial Daily Drawdown 

∴ 35 × 10 × $10 ≤ 0.125 × $10,000

∴ $3,500 ≤ $1,250

Since $3,500 is greater than 12.5% of the initial daily drawdown limit of $10,000 ($1,250), the total position size exceeds the threshold. Therefore, it is a violation of the overleveraging policy.

Example 3: No Violation

Suppose a trader is trading US30 (Dow Jones Industrial Average) with the following details:

  • Asset: US30 (Dow Jones Industrial Average)
  • Total Position size: 20 standard lots
  • Pip value for US30: $1 (for 1 standard lot)
  • Price movement: $10 (threshold for indices)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.125 × Initial Daily Drawdown 

∴ 20 × 10 × $1 ≤ 0.125 × $10,000

∴ $200 ≤ $1,250

Since $200 is less than 12.5% of the initial daily drawdown limit of $10,000 ($1,250), the total position size does not exceed the threshold. Therefore, it is not a violation of the overleveraging policy.

Example 4: Violation

Suppose a trader is trading Bitcoin (BTC/USD) with the following details:

  • Asset: BTC/USD (Bitcoin)
  • Position size: 15 standard lots
  • Pip value for BTC/USD: $1 (for 1 standard lot)
  • Price movement: $500 (threshold for cryptocurrencies)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.2 × Initial Daily Drawdown 

∴ 15 × 500 × $1 ≤ 0.2 × $10,000

∴ $7,500 ≤ $2,000

Since $7,500 is greater than 20% of the initial daily drawdown limit of $10,000 ($2,000), the total position size exceeds the threshold. Therefore, it is a violation of the overleveraging policy.

Updated: 1st of April 2024
With Effect From: 6th of April 2024

Understanding All-or-Nothing Trading Style: A Risk Management Perspective

Introduction:

In the realm of financial trading, the concept of all-or-nothing trading style represents a high-risk approach that can have significant implications for traders’ capital and the stability of the trading environment. This article delves into the intricacies of all-or-nothing trading style, its impact on traders, and the importance of risk management at TopTier Trader.

What is All-or-Nothing Trading Style?

All-or-nothing trading style involves consecutively opening a substantial number of positions on a single financial instrument, often without regard for market conditions or risk management principles. Traders adopting this approach seek quick profits by risking a significant portion of their capital on each trade, with little consideration for the potential downside.

Trigger Explanation:

The trigger points for All-or-Nothing Trading Style vary depending on the asset class being traded:

  • Forex and Major Currency Pairs: A violation occurs if the total open position generates a profit or loss greater than 25% of the initial daily drawdown within a 10-pip movement.
  • Cryptocurrencies: A violation occurs if, for every $500 movement in price, the total asset position generates a profit or loss greater than 20% of the initial daily drawdown.
  • Indices: A violation occurs if, for every $10 movement in price, the total asset position generates a profit or loss greater than 12.5% of the initial daily drawdown.
  • Metals and Commodities: A violation occurs if, for every 10 pip movement in price, the total asset position generates a profit or loss greater than 12.5% of the initial daily drawdown.

Simple Formula for Checking Threshold:

The formula for checking if a position exceeds the threshold is as follows:

Position Size × Price Movement × Pip Value ≤ Threshold Percentage × Initial Daily Drawdown 

Explanation of the Formula:

  • Position Size: The total number of contracts or lots in the trader’s position.
  • Price Movement: The threshold movement in price for the specific asset class being traded.
  • Pip Value: The value of one pip for the specific asset.
  • Threshold Percentage: The threshold percentage for the specific asset class being traded.
  • Daily Drawdown: The initial allowable daily drawdown for the trader’s account.

If the calculated value on the left side of the equation exceeds the threshold determined by the threshold percentage, it indicates a violation of the All-or-Nothing Trading Style.

Implications and Consequences:

The all-or-nothing trading style poses significant risks to traders’ capital and the stability of the trading environment. At TopTier Trader, such practices are strictly prohibited and may result in severe consequences, including strikes, delayed payouts, reduced/rejected payouts, and ultimately, a ban from the platform. Traders adopting an all-or-nothing approach risk not only their own financial well-being but also the integrity and stability of the trading community as a whole.

Example 1: No Violation

Suppose a trader is trading EUR/USD with the following details:

  • Asset: EUR/USD
  • Total Position size: 3 standard lots
  • Pip value for EUR/USD: $10 (for 1 standard lot)
  • Price movement: 10 pips (threshold for forex and major currency pairs)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.25 × Initial Daily Drawdown 

∴ 3 × 10 × $10 ≤ 0.25

∴ $300 ≤ $2,500

Since $300 is less than 25% of the initial daily drawdown limit of $10,000 ($2,500), the total position size does not exceed the threshold. Therefore, it is not a violation of the All-or-Nothing Trading Style.

Example 2: Violation

Suppose a trader is trading Gold (XAU/USD) with the following details:

  • Asset: XAU/USD (Gold)
  • Total Position size: 35 standard lots
  • Pip value for XAU/USD: $10 (for 1 standard lot)
  • Price movement: 10 pips (threshold for metals and commodities)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.125 × Initial Daily Drawdown 

∴ 35 × 10 × $10 ≤ 0.125 × $10,000

∴ $3,500 ≤ $1,250

Since $3,500 is greater than 12.5% of the initial daily drawdown limit of $10,000 ($1,250), the total position size exceeds the threshold. Therefore, it is a violation of the All-or-Nothing Trading Style.

Example 3: No Violation

Suppose a trader is trading US30 (Dow Jones Industrial Average) with the following details:

  • Asset: US30 (Dow Jones Industrial Average)
  • Total Position size: 20 standard lots
  • Pip value for US30: $1 (for 1 standard lot)
  • Price movement: $10 (threshold for indices)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.125 × Initial Daily Drawdown 

∴ 20 × 10 × $1 ≤ 0.125 × $10,000

∴ $200 ≤ $1,250

Since $200 is less than 12.5% of the initial daily drawdown limit of $10,000 ($1,250), the total position size does not exceed the threshold. Therefore, it is not a violation of the All-or-Nothing Trading Style.

Example 4: Violation

Suppose a trader is trading Bitcoin (BTC/USD) with the following details:

  • Asset: BTC/USD (Bitcoin)
  • Position size: 15 standard lots
  • Pip value for BTC/USD: $1 (for 1 standard lot)
  • Price movement: $500 (threshold for cryptocurrencies)
  • Initial balance: $200,000
  • Initial daily drawdown limit: $10,000

Using the formula:

Position Size × Price Movement × Pip Value ≤ 0.2 × Initial Daily Drawdown 

∴ 15 × 500 × $1 ≤ 0.2 × $10,000

∴ $7,500 ≤ $2,000

Since $7,500 is greater than 20% of the initial daily drawdown limit of $10,000 ($2,000), the total position size exceeds the threshold. Therefore, it is a violation of the All-or-Nothing Trading Style.

Updated: 1st of April 2024
With Effect From: 6th of April 2024

Understanding Gambling/Betting Behavior: A Risk Management Perspective

Introduction:

In the world of financial trading, distinguishing between legitimate trading practices and behaviors akin to gambling or betting is crucial for maintaining a fair and transparent trading environment. This article aims to explore the concept of gambling/betting behavior, its implications, and how it intersects with risk management principles at TopTier Trader.

What is Gambling/Betting Behavior?

Gambling/betting behavior refers to engaging in trades that resemble high-stakes gambles, characterized by the absence of a well-defined plan or strategy. Traders exhibiting such behavior often rely on luck rather than informed decision-making, treating the market as a game of chance rather than a platform for strategic trading. This reckless approach to trading undermines the integrity of the trading environment and poses significant risks to traders’ capital.

Trigger Explanation:

Traders engaging in gambling/betting behavior often exhibit certain behaviors that serve as red flags. These triggers include:

  1. Impulsive Trading Decisions: Traders make impulsive trading decisions without conducting thorough research or analysis, relying solely on speculative news or rumors.
  2. All-or-Nothing Trades: Traders risk a significant portion of their capital on a single trade, hoping for substantial gains without implementing effective risk management strategies.
  3. Overreliance on Luck: Traders exhibit an overreliance on luck rather than adopting a disciplined approach to trading, leading to inconsistent results and heightened volatility in their trading activities.
  4. Lack of Trading Plan: Traders fail to develop a well-defined trading plan or strategy, making trades based on emotions or gut feelings rather than objective analysis.

Real-Life Trigger Cases:

  1. Impulsive Trading Decisions: A trader enters a trade based on a speculative news headline without conducting any research or analysis, leading to significant losses.
  2. All-or-Nothing Trades: A trader risks a substantial portion of their capital on a single high-risk trade, hoping for quick profits without implementing proper risk management measures.
  3. Overreliance on Luck: A trader consistently makes trades based on gut feelings or hunches rather than objective analysis, leading to inconsistent trading results and heightened volatility.
  4. Lack of Trading Plan: A trader enters trades without a well-defined trading plan or strategy, relying on emotions rather than disciplined analysis and risk management.

Implications and Consequences:

Gambling/betting behavior poses significant risks to traders’ capital and undermines the integrity of the trading environment. At TopTier Trader, such practices are strictly prohibited and may result in severe consequences, including strikes, delayed payouts, reduced/rejected payouts, and ultimately, a ban from the platform. Traders engaging in gambling/betting behavior risk not only their own financial well-being but also the credibility and integrity of the trading community as a whole.

Conclusion:

Gambling/betting behavior represents a violation of ethical trading practices and poses significant risks to traders’ capital and the integrity of the trading environment. Traders must recognize the dangers associated with such behavior and adopt a disciplined and strategic approach to trading. At TopTier Trader, we are committed to upholding fairness and integrity in the trading community and will take strict measures to enforce compliance with ethical trading standards.

Updated: 1st of April 2024
With Effect From: 6th of April 2024

Understanding Account Rolling/Churning in Trading: A Comprehensive Guide

Introduction:

In the realm of trading, maintaining integrity and transparency is paramount. However, certain practices, such as account rolling or churning, pose a threat to the fairness and credibility of the trading environment. This article aims to shed light on the concept of account rolling/churning, its implications, and how it intersects with risk management principles at TopTier Trader.

What is Account Rolling/Churning?

Account rolling, also known as churning, refers to the practice of acquiring multiple evaluation accounts within a short period and deliberately allowing some accounts to fail while focusing on completing others. Essentially, it involves navigating evaluation processes without genuinely showcasing the trader’s skill and proficiency in the market. This tactic undermines the integrity of trading evaluations and compromises the credibility of traders on the platform.

Trigger Explanation:

Traders engaging in account rolling/churning often exhibit certain behaviors that serve as red flags. These triggers include:

  1. Rapid Acquisition of Multiple Accounts: Traders acquire several evaluation accounts simultaneously, often within a short timeframe.
  2. Deliberate Failure of Some Accounts: Traders strategically allow certain accounts to fail while focusing efforts on completing others.
  3. Inconsistent Trading Patterns: Traders display inconsistent trading patterns across different accounts, suggesting a lack of genuine trading intent.
  4. Lack of Trading Strategy: Traders fail to implement a consistent trading strategy across accounts, relying instead on opportunistic tactics to pass evaluations.

Real-Life Trigger Cases:

  1. Rapid Account Acquisition: A trader registers for multiple evaluation accounts within a week, bypassing the standard evaluation process.
  2. Selective Account Management: A trader deliberately allows one evaluation account to fail while focusing on completing another, indicating a lack of genuine trading intent.
  3. Inconsistent Trading Patterns: A trader exhibits vastly different trading strategies across multiple accounts, raising suspicions of opportunistic trading behavior.
  4. Absence of Trading Strategy: A trader fails to adhere to a consistent trading strategy across accounts, instead opting for ad-hoc trades to pass evaluations.

Implications and Consequences:

Account rolling/churning undermines the credibility of traders and compromises the integrity of the trading environment. At TopTier Trader, such practices are strictly prohibited and may result in severe consequences, including strikes, delayed payouts, reduced/rejected payouts, and ultimately, a ban from the platform. Traders engaging in account rolling/churning risk damaging their reputation and credibility as traders, thus impeding their long-term success in the trading community.

Conclusion:

Account rolling/churning represents a violation of ethical trading practices and undermines the integrity of the trading environment. Traders must recognize the risks associated with such practices and adhere to transparent and responsible trading behaviors. At TopTier Trader, we are committed to upholding fairness and credibility in the trading community and will take strict measures to enforce compliance with ethical trading standards.

Updated: 1st of April 2024
With Effect From: 6th of April 2024

Swing Trading

We allow traders to swing trades over the weekend on our TopTier Challenge Swing and TopTier Challenge Plus accounts. However, we do not allow it on our TopTier Challenge Regular accounts.

Scalp Trading

We allow our traders to scalp their trades on our accounts.

Copy Trading

We allow the use of copy trading on our TopTier Challenge Plus accounts. However, we do not allow them on our TopTier Challenge Regular or TopTier Challenge Swing accounts.

 

For more information regarding the use of copy traders based on your evaluation/funded account please visit the below links:

For more information about TTT Challenge

TTT Challenge

 

For more information about TTT Challenge Plus

TTT Challenge Plus

EA Trading

We allow the use of EAs on our TopTier Challenge Plus accounts. However, we do not allow them on our TopTier Challenge Regular or TopTier Challenge Swing accounts.

EAs are no longer available as of February 27th.

Hedge Trading

We allow our traders to hedge their trades.

Weekend Trading

We allow weekend trading on the TopTier Challenge Swing and TopTier Challenge Plus accounts provided that the instruments are tradeable on the weekend (eg. cryptocurrencies). However, we do not allow weekend trading on the TopTier Challenge Regular accounts. All positions will be liquidated on TopTier Challenge Regular accounts on Friday at 4PM EST.

Trading Restrictions

As much as we try not to restrict our trader’s style at TopTier Trader, there are certain strategies we have deemed as “cheating” as they provide an unfair advantage by manipulating the demo accounts. Any trader that is caught using any of the strategies we deemed prohibited, not limited to those stated on this page, will have their challenge or funded accounts breached as they would have violated our terms of use policy.

 

Below are some of the prohibited strategies:

  • Grid Trading

  • Latency arbitrage

  • Reverse arbitrage

  • Tick scalping

  • Account management

  • Signal trading

  • High-frequency trading

  • Martingale

  • Hedging between accounts

  • Guaranteed limit orders

  • Data feed manipulation

  • Trading on delayed charts

  • Macroeconomic trading during high-impact reports and being filled at an unrealistic price due to the volatility.

Can I Trade The News?

While news trading is permitted on our Tier 1 and Tier 2 accounts, please be aware that TopTier Funded accounts (Regular and Swing) come with specific restrictions.

 

It’s important to note that the news trading restriction rule does not affect our Plus Model. However, for our Add-On model, the News Trading Add-on is required to participate in news events trading during both the challenge and funded phases.

 

TopTier Funded accounts are not permitted to execute new trades or close existing trades on instruments being targeted by red folder macroeconomic events in the window of ≈ 4 minutes (≈ 2 minutes before and ≈ 2 minutes after the release of a red folder event).

 

For clarification, executing a trade is defined as opening, closing, or the modification of either a pending or market order.

 

You are permitted to hold your trades on instruments being targeted by red folder macroeconomic events that were open for more than ≈ 2 minutes prior to the restricted red folder macroeconomic event.

 

Do note that if your trade were to close, this includes your SL/TP being triggered prior to ≈ 2 minutes before until ≈ 2 minutes after the red folder macroeconomic event, any profits of those affected trades will be revoked and a warning will be issued to the member. Trades that result in a loss will not be compensated and will still receive a violation warning.

 

After the first warning, if your account violates the restriction once more then the account will be fully breached and terminated without further notice.

Red Folder Macroeconomic Events can be found under the following link: https://www.forexfactory.com/calendar / https://www.fxstreet.com/economic-calendar

The following table illustrates some of the Events that restrict trading activities. To see all Major Announcements, please go to the link mentioned above.

INSTRUMENT

MACROECONOMIC EVENT

USD

NASDAQ

US30

US500

US OIL

GOLD

SILVER

  • Non-Farm Payroll

  • Unemployment Rate

  • FED Rates

  • FOMC Minutes

  • GDP q/q

  • CPI y/y

  • Red Folder Government Speeches

  • Crude Oil Inventories

GBP

UK100

UK500

  • CPI y/y

  • Bank Rates

  • MPC Votes

  • Red Folder Government Speeches

EUR

DAX30

FRA40

GER30

  • Refinancing Rates

  • Red Folder Government Speeches

CAD

  • BOC Rate Statement

  • Overnight Rate

  • CPI m/m

  • Unemployment Rate

  • Employment Change

  • Red Folder Government Speeches

AUD

ASX200

  • RBA Statement

  • Cash Rate

  • GDP q/q

  • CPI q/q

  • Unemployment Rate

  • Employment Change

  • Red Folder Government Speeches

CHF

  • SNB Rate

  • Red Folder Government Speeches

NZD

  • RBNZ Rate Statement

  • Cash Rate

  • GDP q/q

  • CPI q/q

  • Unemployment Rate

  • Employment Change

  • Red Folder Government Speeches

JPY

JPN225

  • JPY Rate Statement

  • Cash Rate

  • GDP q/q

  • CPI q/q

  • Unemployment Rate

  • Employment Change

  • Red folder government speeches (e.g., government official speaks)

Note: Allowing one warning notification does not mean the rule is intended to be violated. If it is determined, either via gross negligence or periodically violating the rule (many news trades during a short period of time) or otherwise, that the account in question had no intention of complying with our news rules, TopTier Trader reserves the right to breach the account prior to issuing the warning stated above. Do note that if the deduction were to breach any of your drawdown limits the account would remain as such.

KYC/AML Screening

Before we issue any virtually funded account or any type of payout, we require that you verify your ID and pass our KYC/AML screening. Most applicants will have no issue with the screening and will be verified in as little as 5 minutes.

 

Below are the required steps in order to pass the screening:

  1. Upon successfully completing the evaluation phase you will receive an email with a link to complete your KYC/AML screening.

  2. You will be asked to submit a valid form of ID. This could be a driver’s license, passport, ID card, or residence permit.

  3. You will also be asked to submit a valid proof of address issued within the last 90 days. This could be a bank statement, utility bill, or phone bill.

  4. You will then be required to take a selfie so that we can match your face to that on your submitted ID

Once you have completed the KYC/AML screening and are verified, you will receive an agreement sent to you within 48 – 72 business hours. Once the agreement has been signed, you will then receive your virtually funded account the upcoming Monday, Wednesday, or Friday.

 

If you have any issues with your KYC/AML screening, please contact our live support and we will assist you in potentially getting you verified if possible. Note that if you are unable to pass the screening, you will not be able to receive the funded account details and will receive a refund to your challenge.

Payment Methods We Support

We accept payments via credit card and cryptocurrency.

 

Cryptocurrencies we support are Bitcoin, USDT (ERC-20), USDT (TRC-20), LTC, Tron (TRX), Ethereum (ERC-20), and DOGE.

 

Please note that cryptocurrency payments are to be made within 15 minutes of the crypto invoice being issued to avoid loss of payment.

Country Restrictions

In adherence to regulatory requirements and to maintain compliance with international sanctions, TopTier Trader has implemented restrictions on accessing and placing orders in certain countries. Effective immediately, traders are prohibited from engaging in transactions within the following regions under OFAC sanctions:

  • Afghanistan
  • Belarus
  • Burma
  • Cote d’Ivoire (Ivory Coast)
  • Cuba
  • Democratic Republic of the Congo
  • Iran
  • Iraq
  • Lebanon
  • Libya
  • Mali
  • North Korea
  • Russia
  • Somalia
  • Sudan
  • Syria
  • Venezuela
  • Yemen

Furthermore, as of Monday, February 12, 2024, TopTier Trader will no longer extend its services to residents of the following additional countries:

  • Viet Nam
  • Egypt
  • Pakistan
  • Germany
  • India
  • Turkey
  • United Kingdom
  • Romania
  • Kenya
  • Czech Republic

This decision is prompted by irregular trading patterns observed within these jurisdictions. Please be advised that engaging in trading activities with these countries is strictly prohibited. Any such activity will result in immediate breach of our terms and forfeiture of profits without exception.

We appreciate your understanding and cooperation in upholding our commitment to compliance and ethical trading practices. TopTier Trader may consider reintroducing services to some or all of these countries at a future date, pending further review and regulatory approvals.

Leverage

Our special group within Think Markets has been designed to meet the requirements for operating a prop firm. Since you are allowed to hold trades overnight and over the weekend on certain challenge accounts, the leverage for specific instruments has to be lowered.

 

Below are the leverages we offer for each challenge type with their respective instruments:

 

TTT Challenge Regular

  • 1:100 – Forex

  • 1:40 – Gold & Commodities

  • 1:30 – Indices

  • 1:2 – Crypto

TTT Challenge Swing

  • Forex 1:30

  • Gold and Commodities 1:10

  • Indices 1:5

  • Crypto 1:1

TTT Challenge Plus

  • 1:100 – Forex

  • 1:40 – Gold & Commodities

  • 1:30 – Indices

  • 1:2 – Crypto

Lot Size Limit

Our accounts do not have a lot size limit on any pair, as such you may trade the accounts using any lot size you wish across all pairs.  Please keep in mind your lot size should never breach our trading rules that restricts gambling-type behaviors.

Allowed Instruments

With TopTier Trader, you are able to trade any instrument available on the ThinkMarkets trading platform. This includes forex, commodities, indices, and crypto.

The instruments that you are allowed to trade are:

  • All Forex, Gold, and Silver pairs end with the suffix “x”. For example, GBPUSDx or XAUUSDx.

  • Commodities, indices, and crypto have no suffix

To be able to see all the instruments please follow the instructions below:

Desktop Platform:

  • Press Ctrl + M to see the Market Watch, or simply click on the icon.

  • Right-click on the Market Watch, and click on “Show All”

  • Now you can see all the instruments available for you to trade!

Mobile Platform:

  • On the “Quotes” tab, press the “+” sign

  • To add the Forex pairs, press on “Forex X” and add the symbols you want. You are also allowed to trade all the instruments inside the “Indices”, “Gold X”, “Silver X”, “Commodities”, “BTC”, and “Crypto” folders.

Challenge Start Time

All challenges at TopTier Trader start once you place your first trade. If your account is inactive for more than 60 days it will be disabled and you will need to contact us via live chat or email to request new account details.

Account Creation

Once you have completed your payment, it takes less than 5 minutes to process new challenge accounts and get your details sent out.

If you have not received your account after 5 minutes please make sure to check your spam or promotional folders. If you still have not found your details and have received a confirmed purchase notification, then please contact our support via live chat or email.

 

Tier 2 account creation however takes 36 – 48 business hours to get completed as an automated account review is done within that timeframe to ensure that there were no violations made on the account.

TTT Challenge Vs. TTT Challenge Plus

The TTT Challenge and TTT Challenge Plus both have their benefits and cater to different traders.

Simulated Account Challenge Type

TTT Challenge Regular

TTT Challenge Swing

TTT Challenge Plus

Tier 1 Target

10%

10%

8%

Tier 2 Target

5%

5%

5%

Daily Drawdown

5%

5%

5%

Daily Drawdown Calculation

Max Overall Drawdown

10%

10%

8%

Minimum Trading Days

4 Days

4 Days

4 Days

Unlimited Trading Days

Leverage

1:100

1:30

1:100

Initial Payout Period

30 days

30 days

14 days

EA (Trading Robot)

Copy Trading

Weekend Holding & Trading

Account Scaling

90% Payout Scaling

 

For more information regarding any of the challenges, please visit the appropriate link below.

For more informations about TTT Challenge Regular

TTT Challenge Regular

 

For more informations about TTT Challenge Swing

TTT Challenge Swing

 

For more informations about TTT Challenge Plus

TTT Challenge Plus

Spread & Commission

Spread

You may check out our spreads with the below MT4 and MT5 credentials.

MT4:

Login: 83280211

Password: alm1kgj

Server: ThinkMarkets-Demo 3
MT4 Download: https://www.thinkmarkets.com/en/trading-platforms/metatrader-4/

MT5:

Login: 11980153

Password: -dBq0vKq

Server: ThinkMarkets-Demo

MT5 Download: https://www.thinkmarkets.com/en/trading-platforms/mt5/

Note that the “x” suffix is used for Forex, Gold, and Silver pairs. Commodities, indices, and crypto have no suffixes.

Note: To view the “x” instruments, please refer to this article.

Commission

Forex & Metals: $7 per lot

Commodities, Indices, Crypto: $0 per lot

Live or Demo?

All accounts on TopTier Trader are demo. Even when you become a funded trader, we will provide a demo account with virtual funds. This account will be connected to our master live account that places trades in the live market using copy trading software.

 

Providing a demo account is not only a way to help us better our risk tolerance, but it also is an industry-standard when it comes to the issuance of funded accounts. We expect funded traders to trade and manage their accounts as if they were live accounts.

 

Note: Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

How To Get Started?

Becoming a TopTier Trader is as easy as 1-2-3. Follow the below steps in order to register and become the next TopTier Trader!

  1. Head over to our Pricing section on the home page.

  2. Select the challenge size you would like to take.

  3. Proceed to checkout and make payment for the challenge. You may pay via credit/debit card or cryptocurrency.

Within a few minutes to a couple of hours depending on your payment choice, you will receive your account credentials in a welcome email and will be able to access the trading platform as well as the dashboard. Payments via crypto orders have to be confirmed on the blockchain before the order gets completed.

 

NOTE: We only accept ETH on the ERC-20 network. If you send ETH on any other network besides ERC-20, we will not receive your payment and will not be in any position to provide technical support for you to receive your payment back.

 

Make sure you have reviewed the rules of the challenge before starting it. If you have any doubts regarding the rules feel free to contact our live support for clarification.

 

Please note that all TopTier-funded accounts are subject to a KYC/AML screening prior to being issued. So please ensure that you are able to provide a valid form of ID and proof of address issued within the last 90 days to avoid any delays in receiving your funded account in the event that you are successful in completing the evaluation phase.

What is TopTier Trader

TopTier Trader is a company searching for experienced traders to join the family of TopTier Traders.

 

To determine if a trader has what it takes to become a TopTier Trader, we have created a 2-Tier evaluation process. Upon successful completion of the evaluation, traders are offered a placement in the TopTier Proprietary Trading Firm, where they can remotely manage virtual funds and continuously grow the simulated account through our scaling plan. As a TopTier Trader, you are eligible to keep up to 90% of the virtual profits you generate on the simulated funded accounts.

 

TopTier Trader was founded by two of the most prolific traders in the industry, Cue Banks and Anthony of Anthony’s World, as they set out on a journey to help alleviate the issues traders face when trading a challenge.

 

Will you be the next TopTier Trader?

Trading Rules

Within the broader public perception, a misconception lingers, linking financial market trading to gambling. This misconception is often fueled by traders exhibiting behaviors reminiscent of gambling. To uphold the integrity of our trading community and cultivate an environment that champions responsible trading, it becomes imperative to address these tendencies.

Some traders, enticed by the prospect of quick profits, may embrace high-risk strategies that, more often than not, decrease their likelihood of success. While financial markets inherently entail risks, it is paramount to delineate between legitimate trading practices and gambling inclinations.

At TopTier Trader, our commitment revolves around protecting our traders and fostering opportunities for those who approach the market with responsibility. Should we suspect that a trader is employing our services for gambling purposes, we retain the right to implement measures designed to mitigate associated risks. These measures may encompass adjustments to leverage or modifications to earnings. It is crucial to emphasize that such actions will be taken judiciously, following a thorough assessment by our risk management team, targeting behaviors falling within specific prohibited categories.

Violations:

  1. Account Rolling/Churning:

A concerning practice known as account rolling or churning has surfaced. This involves traders acquiring several evaluation accounts simultaneously, employing a rolling strategy where certain accounts are deliberately allowed to fail while prioritizing the completion of others. Essentially, this tactic aims to navigate evaluations without genuinely showcasing the trader’s skill and proficiency in the market. For instance, a trader might engage in acquiring multiple evaluation accounts concurrently, strategically allowing some to falter while focusing efforts on completing others to create the illusion of trading prowess.

View More Information About Account Rolling/Churning

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  1. Gambling/Betting Behavior:

A red flag is raised when individuals exhibit behavior akin to gambling or betting. This involves participating in trades that resemble high-stakes gambles, characterized by the absence of a well-defined plan or strategy. For instance, a trader might impulsively invest a significant portion of their capital in a single trade, driven more by chance than informed decision-making. Another example could be a trader consistently relying on speculative news without conducting thorough research, essentially treating the market as a game of chance rather than a platform for strategic and informed trading.

View More Information About Gambling/Betting Behavior

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  1. All-or-Nothing Trading Style:

In the dynamic landscape of trading, the practice of trade stacking reveals a risky “all-or-nothing” strategy. It involves consecutively opening a substantial number of positions on a single financial instrument. Take, for instance, a trader motivated by the allure of quick gains who engages in the consecutive opening of multiple positions on the same currency pair. In this scenario, market conditions are often overlooked, and the trader neglects to implement effective risk management strategies. This approach, marked by impulsiveness and a lack of comprehensive risk assessment, puts a significant portion of the trader’s account at stake with each successive trade.

It’s crucial to note that trade stacking becomes problematic when the accumulated risk to the account approaches or exceeds 25% of the allowed daily drawdown. This heightened level of risk poses challenges to maintaining a balanced and responsible trading strategy.

View More Information About All-or-Nothing Trading Style

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  1. Group Hedging:

Within the trading realm, group hedging represents a prohibited strategy involving the simultaneous trading of opposite positions on the platform. This collaboration occurs when two traders coordinate efforts to exploit the platform by taking opposite positions on the same currency pair simultaneously. In this scenario, while one trader opts for a long position, the other strategically chooses a short position, resulting in a net-zero position on the platform. Although this may initially seem like a neutral stance, it undermines the principles of fair and transparent trading. Such group hedging strategies are strictly prohibited, as they pose a threat to the integrity of the trading environment.

  1. Overleveraging:

Overleveraging emerges as a concerning practice marked by surpassing prudent levels of leverage. This occurs when a trader employs excessive leverage in relation to their account’s daily drawdown, amplifying the stakes for potential gains and losses. For instance, a trader might utilize a level of leverage that, if the market moves unfavorably, could breach our drawdown limit. This violation poses a considerable risk to both the trader and the overall stability of the trading environment. Overleveraging becomes particularly problematic when the accumulated risk to the account approaches or exceeds 25% of the allowed daily drawdown, underscoring the importance of sound risk management practices.

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Consequences for Challenge Accounts:

Upon passing Tier 2, challenge accounts will undergo a manual review for violations of any policies. If a violation is found:

  • First Violation: Retry the Tier(s) affected by the violation alongside a warning.
  • Second Violation: Retry the Tier(s) affected by the violation alongside a final warning.
  • Third Violation: The challenge will be deemed as failed, and the trader will no longer be eligible for the respective funded account associated with that challenge.

Refusal to comply with the above conditions (refusal to complete the retry) will result in the challenge being failed, and a refund will be issued. Repeated violations could lead to a possible ban from the platform. Note that upon receiving your retry account you will only be required to make the amount that was found in violation for the respective Tier. If the violation amount exceeds the profit target then you would be required to achieve the profit target for the respective Tier.

Consequences for Funded Accounts:

Upon payout request, a review will be conducted, and any trade(s) found in violation that resulted in a profit will be deducted.

  • First Violation: White Card (Soft warning issued along with possible reduced/rejected payout.)
  • Second Violation: Yellow Card (Warning issued, delayed payout, review of all active accounts within the last 30 days, reduced/rejected payout.)
  • Third Violation: Red Card (Warning issued, delayed payout, review of all active accounts within the last 60 days, reduced/rejected payout, trading suspension of 20 business days.)
  • Fourth Violation: Red Card (Final warning issued, forfeiture of any simulated profit generated, and immediate breach of all violated accounts.)
  • Fifth Violation: Black Card (Ban from the platform.)

Please note that funded accounts in violation will only be breached upon the fourth violation.

Additional Measures:

Economic Events Restriction:

  • From the 3rd strike onward, traders cannot trade economic events on affected funded accounts.

Strike Removal Condition:

  • To have a strike wiped off, a trader must complete the penalty box’s entire duration without another violation. Regardless if the violated account becomes breached.

Escalation of Strikes:

  • Violating a separate, unrelated rule can lead to the progression of strikes, regardless of the initial violation.

Payout Rejection or Reduction:

  • The firm reserves the right to reject a payout in its entirety or reduce the payout amount depending on the severity of the violations.

It is crucial to acknowledge that the examples outlined above serve an illustrative purpose, aiming to elucidate general concepts related to each violation. This list is not exhaustive, and the scenarios leading to violations can manifest in diverse ways. Traders should understand that risk management policies cover a wide spectrum of behaviors, and adherence to ethical trading practices is paramount. While the provided examples offer guidance on potential violations, they do not circumscribe the scope of actions that may breach risk management guidelines. Traders are strongly advised to meticulously review the specific risk management and strike policy of the trading platform, gaining a comprehensive understanding of acceptable practices and consequences.

Our risk management and strike policy establish a transparent framework dedicated to upholding a responsible trading environment on our platform. We underscore the significance of embracing responsible trading practices for the sustained success of our traders.

Updated: 1st of April 2024
With Effect From: 6th of April 2024