Top One Trader Review

What is Top One Trader?

On October 16, 2023, Top One Trader was formally incorporated as a proprietary trading organization. Led by CEO Matt Moris, who has over 29 years of expertise in entrepreneurship, the company is based in the United States at 30 North Gould Street Ste R, Sheridan, WY 82801. Among his many successful endeavors are the ownership of two eight-figure enterprises and his role as an equity partner in a corporation that generates over $5 billion in revenue. 

For more than 20 years, he has also gained substantial experience as an investor in real estate, financial markets, and private equity. Furthermore, Matt is a well-known global speaker who has given keynote speeches in more than 40 nations on six continents. 

He has also given several CEOs and business owners one-on-one tutoring. Top One Trader collaborates with ThinkMarkets as their broker and provides traders with two account types: a one-step evaluation and a two-step evaluation.

Top One Trader Funding Programs and Challenges: Rules and Requirements 

Top One Trader offers two distinct alternatives for funding programs to its traders:

1. Flash Challenge 
2. Pro Challenge

Pro Challenge

For traders capable of handling account amounts ranging from $10,000 to $200,000, Top One Trader offers the Pro Challenge. The challenge’s main objective is to find knowledgeable traders who can make money while controlling risks using a two-step assessment procedure.

Account Size	Price
$10,000	$119
$25,000	$239
$50,000	$329
$100,000	$545
$200,000	$1,049

Traders have to reach an 8% profit target in the first phase while staying within a 5% daily loss or a 10% maximum loss. During this period, there are no restrictions on the number of trading days that can be used. Traders must fulfill the same profit target and risk management guidelines to advance to phase two.

Phase two involves sticking to the same risk criteria and aiming for a 5% profit target. Once more, there are no prerequisites for trading days. If traders follow the maximum daily loss and maximum loss guidelines, they will be granted a funded account without minimum withdrawal limitations upon the successful completion of both phases.

After the initial trade is placed on the funded account, payouts begin 30 calendar days later, with future withdrawals being permitted every two weeks. 80% to 90% of profits are divided, depending on how well the trader does on the funded account.

The Pro Challenge also includes a scaling strategy. A 25% boost in the initial account size is available to traders who have proven profitable over the last three months, with an average return of 12% and at least 3% in each month.

You can also check out the best forex-funded accounts of this year.

Flash Challenge 

To provide traders the chance to handle account amounts ranging from $10,000 to $200,000, Top One Trader has introduced the Flash Challenge. The goal of the challenge is to find knowledgeable traders who can turn a profit in just one evaluation step while also efficiently managing risks.

Account Size	Price
$10,000	$119
$25,000	$239
$50,000	$329
$100,000	$545
$200,000	$1,049

Traders participating in the Flash Challenge have the option to use leverage up to 1:20. Achieving a 10% profit target without going beyond a 5% daily loss or an 8% trailing loss is necessary for the review phase. During this period, there are no restrictions on the number of trading days that can be used.

Traders who complete the evaluation phase criteria are granted a funded account without minimum withdrawal limits. The 5% daily loss cap and the 8% maximum loss requirements, however, must be adhered to by traders. 

Following the first position placement on the funded account, the first rewards are made 30 calendar days later, with subsequent withdrawal chances available every two weeks. Depending on how well the trader does on the funded account, the profit percentages could range from 75% to 90%.

The Flash Challenge also offers a scalability strategy. A 25% increase in the initial account size is available to traders who have demonstrated profitability over the past three months, with an average return of 12% and at least 3% in each month.

What are Forex Prop Challenges?

Forex prop challenges are a form of evaluation procedure put up by proprietary trading businesses (prop firms) to find exceptional traders and provide them with the opportunity to trade with the firm’s funds. These challenges are intended to put a trader’s capacity to earn profits while properly managing risk to the test, with a set of trading rules and objectives to adhere to over a specific time.

A forex prop challenge normally has two primary stages:

1. The challenge phase: During this initial phase, traders are given a demo account with a fixed balance and are asked to meet a certain profit objective within a set timeframe, often a month or two, while adhering to maximum drawdown restrictions and other trading guidelines. This phase evaluates the trader’s capacity to earn profits within specified risk constraints.

2. The Verification Phase: Traders who successfully met their profit objectives and followed the regulations during the challenge phase advance to the verification phase. This stage is similar to the challenge phase, although it often lasts longer and may include somewhat different profit objectives or criteria. The goal of this phase is to confirm the trader’s consistency and expertise across a longer time frame.

After completing both steps, traders are often awarded a funded account. This implies that the prop business sets aside a portion of its funds for the trader to handle. The profit gained by trading this capital is split between the trader and the prop business according to a predetermined split.

Forex prop challenges need a cost, which varies for each prop business. This charge covers the expense of the review procedure and guarantees that traders are committed to the offer.

The particular criteria aims, and structure of prop challenges might differ significantly between businesses. Traders are expected to match the following common parameters:

– Profit targets: A predetermined proportion of the account balance that traders must meet.

– Drawdown limits: The maximum permissible percentage loss from the account’s peak amount, both daily and cumulatively.

– Minimum trading days: The number of active trading days required throughout the challenge period.

– Trade style restrictions: Some companies may have regulations about trading strategies, such as forbidding high-frequency scalping or overnight positions.

Aside from the initial challenge fee, forex prop challenges provide traders with access to considerable trading capital without putting their cash at risk. However, participants must carefully evaluate the terms and circumstances of these challenges, since the criteria established by prop businesses are stringent and intended to test traders’ discipline, risk management, and trading acumen.

Top One Trader Broker: Do They Use a Reliable Platform? 

ThinkMarkets and Top One Trader have partnered, with ThinkMarkets serving as the broker. Reputable multi-asset online brokerage ThinkMarkets has offices in Melbourne and London. 

They are well-known for providing quick and easy access to the market and for providing trading solutions like MetaTrader 4, MetaTrader 5, and their own ThinkTrader platform. Traders can choose to use the MetaTrader 4 and MetaTrader 5 trading platforms for their trading activity while working with Top One Trader.

Top One Trader Fees: How Much Do They Charge? 

Trading Commission

Trading Instrument	Commission Fee
FOREX	7 USD / LOT
COMMODITIES	7 USD / LOT (0 USD / LOT on Oil)
INDICES	0 USD / LOT
CRYPTO	0 USD / LOT

Forex prop trading fees refer to the costs associated with participating in a proprietary (prop) trading firm’s program, particularly those that offer traders the opportunity to trade the firm’s capital. These fees are a critical aspect of the business model for many forex prop firms, especially those that run challenge or evaluation programs to vet potential traders. Here’s a breakdown of the types of fees that traders might encounter:

1. Challenge Fees

These are upfront fees paid by traders to enter into a trading challenge or evaluation program. The challenge is essentially a test that evaluates a trader’s ability to generate profits while adhering to specific risk management rules. If successful, the trader is usually offered the opportunity to trade with the firm’s money. Challenge fees can vary significantly depending on the firm, the size of the demo account provided for the challenge, and the complexity of the challenge itself.

2. Account Setup or Administration Fees

Some prop firms may charge a one-time setup fee for creating and managing a trader’s account. This fee might cover the administrative costs associated with setting up the trading infrastructure, account monitoring, and other backend services necessary for the trader to begin trading.

3. Monthly Desk Fees

Desk fees are akin to rental fees for the physical or virtual space and resources (like software, data feeds, and trading tools) provided by the prop firm. While more common in traditional prop firms that offer physical trading desks, some online forex prop firms might also charge a monthly fee for access to premium trading platforms or tools.

4. Profit Split

While not a fee per se, the profit split arrangement is a significant financial consideration in prop trading. After successfully passing a challenge, traders are allowed to trade with the firm’s capital, and any profits generated are split between the trader and the firm according to a predetermined ratio. Common splits might be 70/30 or 80/20, favoring the trader. It’s essential to understand the profit split terms as they directly affect the trader’s potential earnings.

5. Software or Data Fees

In some cases, traders might need to pay additional fees for access to specialized trading software, real-time data feeds, or analytical tools that are not included in the basic package offered by the prop firm.

6. Education or Training Fees

Some prop firms also offer educational courses, mentoring programs, or trading workshops. These might be optional or required parts of the trading program, with fees varying widely based on the content’s depth and duration.

Key Considerations

– Value for Money: Traders must assess whether the fees charged by a prop firm offer good value for the services provided, especially in terms of the trading capital access, technology, and support offered.

– Transparency: Reputable prop firms are transparent about their fee structure, with no hidden charges. Traders should thoroughly review all terms and conditions before committing.

– Risk: While paying fees for a chance to trade with significantly more capital can be appealing, traders should consider the risk of not passing the challenge and the potential loss of the fee paid.

Forex prop trading offers a unique opportunity for traders to leverage more substantial capital than they might otherwise access. However, understanding the fee structure is crucial to making an informed decision about which prop firm to engage with.

Top One Trader Proof of Payment:

Founded on October 16, 2023, Top One Trader is a trading company with a flourishing community of traders that meet the requirements for profit sharing and have attained funded status. A trader can receive their first compensation after 30 calendar days of reaching funded status either the Pro Challenge or the Flash Challenge. 

Profit splits vary from 75% to 90%, contingent on the profit made on the funded account, and can be anticipated every 14 calendar days if the trader exceeds their starting account size. 

Top One Trader enjoys a solid reputation on some websites, such as Trustpilot, where traders discuss their positive payoff experiences. They also have interviews with high-achieving traders on their Discord channel, which is another evidence of their success and dependability.

Top One Trader Customer Support: 

Customer service is available from Top One Trader by email at support@toponetrader.com and live chat. Although the Help Center, Telegram, WhatsApp, Messenger, and phone lines are unavailable, traders can obtain support by using the above Discord link for extra direction. Users can use the website’s FAQ area for any questions or help, and the platform accepts English as its major language.

What Makes Top One Trader Unique? 

By providing two distinct alternatives for account evaluation a two-step evaluation and a one-step evaluation Top One Trader sets itself apart from other standard prop firms. Additionally, they offer several beneficial advantages, such as unlimited trading time, no minimum trading day requirements, several add-on choices, and future withdrawals every two weeks.

A thorough two-step assessment procedure is the Pro Challenge offered by Top One Trader. Traders have to go through two stages, with the first phase’s profit target being 8% and the second phase’s target being 5%. 

Throughout both evaluation periods, adherence to the 10% maximum loss and the 5% maximum daily loss criteria is essential. Interestingly, throughout any evaluation phase, there are no restrictions on the minimum or maximum number of trading days. 

Additionally, the Pro Challenge gives traders access to a special scaling strategy that lets them handle bigger account amounts. The Pro Challenge stands out from other funding programs in the market because of its many add-on choices, bi-weekly future withdrawals, minimum trading day criteria, and limitless trading time.

Top One Trader Reviews: What Do Their Customers Say?

With a rating of 4.6 stars out of 5, Top One Trader has received reviews from 146 customers. On Trustpilot, their company is verified. The business is doing fantastically on this platform.

#1. Casper Damgaard claimed that it was by far the best prop firm he has ever worked with. He was looking for a new prop firm to employ when he came across one trader and received a lot of recommendations from traders. He can now affirm that they consistently pay out (my compensation was credited to my account). 

They have an excellent support staff that addresses issues promptly and provides solutions. He has also spoken with Clay, who is a wonderful person, and he finds it rather relieving that the people who founded TOT genuinely have concern for their customers. Overall, if they’re searching for a new prop firm, this is an excellent spot to trade.

#2. L. H. reported that he passed his challenge today and earned his first payout. He had no troubles, and the payoff was simple. The spread is fairly narrow, and thus far, the top one has been satisfactory. He also had no problems with the broker. He left a four-star rating because he thought it should be reduced to two weeks instead of the current month-long wait for the first payout. His experience has been positive except for that. anticipating many more rewards. He thought it was a great touch that the message was tailored just for him.

#3. According to Hunter Thomson, he believed he had found his trading home because “at the start top one we’re very good” and “they even sent a handwritten welcome card.” He eventually overcame his challenge and gained access to his funded account after years of attempts. They did a great job with the switch from Metatrader, and he began calling out their name to everyone.

He always used a VPN to trade before this happened, and now that they have compromised my account, he is back to square one. In the end, he is just a regular guy attempting to provide a better life for his family, and they have destroyed everything.

He feels as though he has been robbed and feels betrayed because he was such a devoted consumer. Because they refunded the account, he gave them two stars.

#4. Lasick Lasick says he was too aggressive and that they would never allow me to use their firm again. He will never use another scammy firm and he will make excuses for paying me out 1% of the risk on three winning trades that reached TP and passed a funded position.

Conclusion

The Pro Challenge and the Flash Challenge are two funding programs that Top One Trader, a respectable proprietary trading company, provides to traders.

The Pro Challenge’s evaluation procedure consists of two steps. Traders who complete both phases will earn profit splits ranging from 80% to 90% and will be eligible for a funded account. To be successful, traders must meet 8% and 5% profit targets in phases one and two, respectively, and follow the regulations of a 5% daily maximum and a 10% maximum loss. 

There are no predetermined trading day requirements, so traders are free to work at their own pace. A scaling strategy is also included in the Pro Challenge, offering chances to increase the original account balance.

Conversely, the Flash Challenge provides a simplified, one-step assessment procedure. To be eligible for a funded account and profit splits ranging from 75% to 90%, traders must meet a 10% profit target. 

Traders must follow the 5% daily maximum and the 8% maximum trailing loss rules, the same as in the Pro Challenge. There are no set requirements for trading days, so traders can move at their own pace. The Flash Challenge also includes a scaling plan to raise the starting account balance.