This summary of the video was created by an AI. It might contain some inaccuracies.
00:00:00 – 00:23:24
The video compares two top prop trading firms, TOP Step and Apex, discussing their pros and cons. Topics include the evaluation process, affordability, benefits of trading accounts, potential earnings, costs, drawbacks, and platform rules. The speaker highlights specific features of TOP Step like flexible payouts, multiple account trading, support, and trading software. They stress the importance of profitability before trading multiple accounts and discuss the pricey nature of funded trading accounts. The speaker concludes that competition between these firms fosters improvement in the industry and advises viewers to choose a firm based on their trading goals and needs.
00:00:00
In this segment of the video, the battle between two top prop firms, TOP Step and Apex, is discussed. The video will cover the pros and cons of each, allowing viewers to decide which they prefer. The competition between the firms is described as beneficial for the industry. The focus is on providing free trading education and transparency by showing live trading results. The speaker briefly mentions their recent marriage and requests ‘W’s in the comments. The segment primarily covers the evaluation process and affordability of Apex, highlighting its low entry barrier and inexpensive evaluation retakes.
00:03:00
In this segment of the video, the speaker discusses the ongoing sales at Apex and emphasizes that there will always be discounts available. They highlight the benefits of being able to trade accounts, potentially leading to significant earnings. Apex does not have a daily drawdown, allowing for trading the full Max drawdown. Traders can keep 100% of their first $25,000 earned. However, the speaker also mentions the possible downsides, such as potential high costs if multiple accounts are blown and the expenses associated with activation fees.
00:06:00
In this segment of the video, the speaker discusses the financial implications of an $85 activation fee for prop trading accounts, highlighting that costs can escalate if evaluations are not passed on the first attempt. Customer support for the prop firm is criticized, mentioning delays and poor responses. The concept of trailing drawdown is explained, where drawdown levels remain fixed even if profits are lost. The issues with Discord communication and banning users for asking about payouts are also mentioned, along with restrictions on payout requests during specific windows.
00:09:00
In this segment of the video, the speaker discusses various rules and limitations of a trading platform, including the frequency of payout requests, the introduction of the DCA rule for Dollar Cost Averaging, withdrawal limits of up to $2,000, and restrictions on having big trading days. The speaker mentions concerns about the DCA rule and withdrawal limits but acknowledges that these are the platform’s rules. Additionally, the speaker expresses frustration with the platform’s policy of confiscating profits on unusually large trading days, despite traders following their strategies correctly. Overall, the speaker notes that the platform has both pros and cons but needs improvement, highlighting that traders still find some value in it.
00:12:00
In this segment of the video, the speaker discusses his relationship with TOP Step, emphasizing that he is not paid to create videos about the platform and only earns through affiliate links. He highlights that users can request payouts at any time with a $200 profit for 5 days. There is no specific payout window, and withdrawals of up to 50% of the account are allowed. The speaker praises TOP Step’s solid support team and mentions that the CEO has been involved in the trading industry since 2010. The speaker appreciates TOP Step’s focus on traders’ needs and mentions that the CEO and employees have trading experience. Additionally, TOP Step allows trading in five accounts compared to Apex’s 20, which the speaker personally prefers.
00:15:00
In this segment of the video, the speaker discusses the importance of being profitable with one trading account before opening multiple accounts. They highlight TOP Step’s ability to trade multiple accounts, the benefits of their proprietary trading software TOP Step X, and the potential for a substantial payday from trading with them. TOP Step is noted for its commission-free structure and allowing traders to transition from simulation to live trading. The speaker appreciates that TOP Step lets traders keep their profits and transition to live accounts. However, they mention that TOP Step can be more expensive compared to other platforms like Apex due to combine and activation fees when managing multiple accounts.
00:18:00
In this segment of the video, the speaker discusses the costs and benefits of funded trading accounts like TOP Step and Apex. They highlight the expensive nature of these accounts and the daily drawdown limits that can prevent traders from utilizing their full potential. The comparison is drawn between TOP Step and Apex, with TOP Step having fewer accounts but potentially leading to better trading discipline due to stricter rules. The speaker emphasizes the importance of being profitable before trading multiple accounts and concludes that these companies are top-tier professional firms that push each other to improve through competition.
00:21:00
In this segment of the video, the speaker discusses the importance of competition in prop trading companies and expresses a desire for both companies, STP and Apex, to succeed. They emphasize the need for traders to prioritize their benefits when choosing a prop trading firm by comparing factors such as systems, payouts, rules, and support. The speaker urges traders to conduct thorough research to determine which company will best help them achieve their trading goals, whether it be full-time trading or financial achievements. While the speaker personally leans towards STP, they acknowledge that both STP and Apex are good companies and encourage viewers to make an informed decision based on their needs.