You can take a look at the payout policy here. Need more help figuring out when to request a payout? Check out the When, How, and Why to Pay Yourself blog by our Risk Manager, Mick.
Traders will receive 100% of the profits from payouts, up to $10,000. After the first $10,000 of funds have been received by the trader, the profit split will become 90/10, with the trader receiving 90% of payouts and Topstep retaining 10% of the requested payout. Just to let you know, this is per trader. If you receive a payout of $10,000 and then lose your Funded Account, your next Funded Account payout will be 90/10 when you start back up again.
Once the payout request is processed, the Maximum Loss Limit will be automatically set to the starting account balance (the trader cannot allow the account balance to reach or go below $0 after a payout).
If you take any payouts before your Maximum Loss Limit reaches $0, your limit will automatically be set to $0 with a payout.
To maintain your Topstep account for an extended period of time and take regular payouts, we recommend making your limit $0 before considering a payout. To make your limit $0, you will need to reach the corresponding levels of profits (dictated by your account size):
Below is a list of all account sizes and their corresponding TMDD for reference:
|
Account Size: |
Maximum Loss Limit: |
|
$50K |
$2,000 |
|
$100K |
$3,000 |
|
$150K |
$4,500 |
Again, your Maximum Loss Limit will always be set to $0 after your first payout. If your limit has already reached $0 and you then make a payout, your limit will remain at $0, and the capital remaining in your account will be the maximum amount you will be able to lose.
Payouts could potentially impact how much leverage you have and the amount of risk you can take. The scaling plan will determine what impact your payout has on your Express Funded Account. If your payout brings you down a level, your account will be set to the corresponding buying power. This means that a payout could result in you not being able to trade as many contracts.
Read more about the Scaling Plan.
If you choose to continue trading while Topstep processes a payout for you, there’s a risk the original payout request may not be processed. This can be due to trading losses that result in either the loss of your account or a reduction in the amount Topstep can send you. We recommend that you wait until the payout is reflected on your Trader Dashboard before placing additional trades in order to avoid any unexpected impacts to your payout request.
You can request a payout directly from your profile's dashboard. To learn more about how this process works, please visit our Topstep Payout Policy here.