TopstepTrader is a financial technology firm based in Chicago, IL that evaluates day traders’ performance in real-time simulated accounts. Traders who pass the company’s evaluation earn a funded trading account and trade Forex and futures contracts in the financial markets using the firm’s capital.
TopstepTrader currently operates out of their headquarters in the West Loop Gate neighborhood of Chicago at 130 S. Jefferson St. Employees work out of the 10,000+ sq. ft. loft space in downtown Chicago.
TopstepTrader was started on the floor of the Chicago Board of Trade by current CEO and former Dow futures contracts floor trader, Michael Patak, and became an LLC (Limited Liability Company) in July, 2012. According to the Omaha World Herald, the name TopstepTrader was chosen because the best traders within each trading pit stand on the top step, where they have the best view and could theoretically receive the best market prices.
Products and/or services
TopstepTrader’s funding process consists of three steps. The first step is an evaluation of the trader’s profitability, the second step proves the trader’s risk management, and the last step is the funded trading account.
TopstepTrader produces a daily Squawk Radio trading broadcast through an online chat platform.
TopstepTrader has been awarded 101 Best and Brightest Companies to Work For in 2016, 2016 Chicago Innovation Awards Finalist, and 2016 FIA (Futures Industry Association) Innovator. Founder and CEO Michael Patak was a 2015 semi-finalist and 2016 finalist for the Ernst & Young Entrepreneur of the Year Award. In 2017, Inc. Magazine ranked TopstepTrader No. 1,261 on its 36th annual Inc. 5000.
In the news
TopstepTrader has appeared in news sources including Forbes, CNBC, Bloomberg, Fox Business, MarketWatch, and Built in Chicago.
TopstepFx a division of Topstep Trader designed for the financing of traders in the forex market with the same concepts of Topstep Trader, which like this one has 3 steps to pass the funding test
- ^Newswire, PR (2016-05-05). “EY Announces TopstepTrader LLC® CEO Michael Patak As An EY Entrepreneur Of The Year® 2016 Finalist In The Midwest”. TheStreet. Retrieved 2016-12-29.
- ^“TopstepTrader”. Built In Chicago. Retrieved 2016-12-29.
- ^LLC, TopstepTrader. “EY Announces TopstepTrader LLC® CEO Michael Patak as an EY Entrepreneur Of The Year® 2016 Finalist in the Midwest”. www.prnewswire.com. Retrieved 2016-12-29.
- ^columnist, Michael Kelly / World-Herald. “Kelly: Gretna native making a name for himself in world of commodities-futures trading”. Omaha.com. Retrieved 2016-12-28.
- ^“Home – TopstepTrader”. TopstepTrader. Retrieved 2016-12-29.
- ^“TopstepTrader Community”. community.topsteptrader.com. Retrieved 2016-12-28.
- ^“Chicago’s 2016 Best and Brightest Companies To Work For® – The Best and Brightest”. 101bestandbrightest.com. Retrieved 2016-12-28.
- ^Awards, Chicago Innovation. “2016 Top 100 Finalists – Chicago Innovation Awards”. www.chicagoinnovationawards.com. Retrieved 2016-12-29.
- ^“FIA announces 18 companies selected for Innovators Pavilion”. FIA.org. 15 September 2016. Retrieved 28 December2016.
- ^“Meet the 2016 Finalists”. ey.com/us/en/about-us/entrepreneurship/entrepreneur-of-the-year/mw_article_finalists. Ernst & Young. Retrieved 2016-12-28.
- ^“Spread the Word: TopstepTrader Is No. 1261 on the Inc. 5000 This Year!”. Inc.com. Retrieved 2018-01-31.
- ^Hall, John. “Techweek Companies To Bet On”. Forbes. Retrieved 2016-12-29.
- ^Holliday, Katie (2013-06-21). “It May Feel Overdone but Perhaps Sell-Off Is Justified”. CNBC. Retrieved 2016-12-29.
- ^“Why Weren’t Markets More Bullish Over M&A Mania?”, Bloomberg.com, Bloomberg.com, retrieved 2016-12-29
- ^“Market headed for a pullback?”. Fox Business. 2013-11-12. Retrieved 2016-12-29.
- ^Orgel, Marty. “How to make a work-at-home business succeed”. MarketWatch. Retrieved 2016-12-29.
- ^“How Chicago’s top trading tech firms are shaping the future of finance”. Built In Chicago. Retrieved 2016-12-29.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder TBIL.co STATX Fund.