Techno1st

@Alexproptrades Hmm. That’s more than a week delay. I hope you get paid soon. I’ve traded with them before without issues, but can’t help wondering what’s going on with them, given a lot of recent posts about delays and problems and the retroactive payout changes.

@Alpha_Futures_ still waiting for my payout

Glad the Month of June is over. Its been a grind and will post an update on how it went over the weekend. In the meantime, Requested Payout at @Alpha_Futures_ for only the 2nd time this year. Been really enjoying some of the accounts at Alpha. Not an affliate but enough people I know swear by them and thats good enough for me.

@owensd @KrysAlpine Well said—clear and objective analysis! Topstep should’ve hired you to get this out in the first place! Thank you.

You buy a $50k account and run it up to max. Topstep has two options: 1. Let you just milk it for 5-6 payouts with the minimum profit, which costs Topstep $30k. 2. They move you live. If Topstep puts $50k in your live account (real money) and you continue yolo'ing and blow it over the course of a few weeks (the DLL is like $2k, or maybe you can get it expanded). Topstep is out $50k. Topstep is like... nah, I'm not risking the full $50k anymore. We'll still give you your $50k, but it's going to be locked behind profit targets. So you start with $10k. Topstep is now risking $10k of capital. You hit $3k profit, Topstep gives you another $10k. You then proceed to blow the account. Topstep is out $20k now instead of $50k. Or the $30k from your milking plans. Best case for you is you hit your $15k net profits, you get your full $50k from the XFA, Topstep is making $1.5k on your $15k payout. They are still out $50k. I don't know what is scary about what we've seen with Topstep. Lucid already has an escrow program that is worse. Tradeify's live move is even worse than that. TFD straight up is like no, we aren't paying you from sim money, we'll just move you live with a small capital start. Apex laughs itself to the bank as people keep blowing 20 accounts at a time. I will concede that the new live rules should only apply to newly activated XFAs (with the option a refund on a passed eval that hasn't been activated). If that's the scary part you're referring to, then ok. But everyone is out here like, "oh, my hard earned sim profits are mine!". No, they are not. All the firms that have a live program clearly state they can move you live at any time. Also most of these traders are just trying to game the system b/c you only need one max payout to break even on like 50 accounts, so they are just yolo'ing. Sure, the failed attempts are good for prop firms business, but if you want to be able to make money as well, the firm needs to have risk controls in place to prevent huge payouts from pure gambling.

These posts piss me off b/c they peddle their prop firm codes to everyone. There's a lot of stuff to rightly complain about Topstep, but this isn't it. Notice the lack of disdain for Tradeify and Lucid's live program. Apex's constant denials? Nope - they get paid from them.

@owensd @thebrianstonk Under the new rules, you can only have 20% of the $50k as the starting balance in your live account. And it’s retroactive. And you can no longer request a payout during live transition. If you blow the live, then 80% reserve is gone too. That’s why people are so upset.

@thebrianstonk So they had $50k accounts. If that’s the case. Only $50k would transfer to live. Something doesn’t add up.

🚨 NEW Topstep Live Transition Topstep can move you live at their own discretion, with up to 20% of your transitioned balance. If you lose that 20% initial balance, the remaining 80% is forfeited. The downfall of Topstep 📉

@thebrianstonk I don’t like but can understand why Topstep needed make the changes, but the retroactive nature of the changes is so unfair. How can you be sure that they won’t rug pull again or further in the future.

This user was moved live after just 2 payouts with $130k in profits remaining. Now he’s says his live account starts with only $10k! 😳 While the rest is locked away, and can be fully forfeited if he loses that small initial balance. 🫣

@BrettSimba They also made a retroactive change by no longer allowing a payout during live transition. Since they have the sole discretion to move you to live at anytime, in the worst case scenario, you could potentially lose all your XFA profit without a single payout.

When you buy an account with specific transition rules given when you move live, if you change them, you need to only apply that to accounts purchased AFTER the new live rules. That IS a retroactive change on what a consumer was buying and led to believe the end goal would be.