LeeLoo and TopStep are both companies that provide funding to professional traders. However, while they have some similarities, they also have some significant differences. LeeLoo is a prop firm based in Montana founded in 2019 and offers its services to individual traders and trading firms. TopStep, on the other hand, is a proprietary trading firm based in Chicago that was founded in 2012.
TopStep offers a funded trading program for aspiring traders, but traders must first pass the Topstep Trading Combine Challenge to qualify. Since its launch, TopStep has funded thousands of traders worldwide and paid millions in withdrawals. In this comparison, we will examine the features and services offered by LeeLoo and TopStep in more detail.
What is LeeLoo?
LeeLoo is a prop firm that specializes in providing funding to professional traders. This funding allows the traders to enter into larger trades and potentially increase their profits. LeeLoo is based in Montana and is owned by a family of farmers. It was founded in 2019 and has since grown quickly in the funded trading account market. LeeLoo offers its services to both individual traders and trading firms.
What is TopStep?
TopStep is a proprietary trading firm founded in 2012 by Michael Patak and based in Chicago, Illinois. It allows aspiring traders to gain experience in the markets without risking any of their own capital.
TopStep offers a funded trading program that requires traders to pass its Trading Combine Challenge, an evaluation phase designed to test their ability and readiness for success in the funded program. Since its launch, TopStep has funded thousands of traders worldwide and paid millions in withdrawals.
LeeLoo Vs. TopStep: LeeLoo Funding Process
The Leeloo Funding Challenge is a process that allows traders to qualify for funding from Leeloo Trading. To participate in the challenge, traders must first purchase a Leeloo Practice Account. The goal of this account is to achieve the profit target within 10 traded days without exceeding the loss limit.
If the trader is successful, they can move on to the next step of the challenge, which is the Leeloo Performance Account. In this account, traders must meet specific benchmarks to qualify for the opportunity to earn real payouts. Once they receive their first $12,500 in profits, they will keep 90% of their earnings going forward.
The goal of the Leeloo Funding Challenge is to help traders demonstrate their trading skills and ability to generate profits to qualify for funding from Leeloo Trading.
Now let's have a look at their practice accounts.
Leeloo offers a range of accounts to fit the needs of traders with varying levels of experience and risk tolerance. The Leeloo Express Account is perfect for those just starting out, as it provides access to up to $100,000 in trades with 12 contracts for a short-term commitment of $77 for 14 days. For those looking for something more long-term, the Aspire Account provides up to $25,000 in trades with 3 contracts at the cost of $150 per month - and eligibility for an account reset discount of up to $85.
For more experienced traders, Leeloo also offers Launch and Climb Accounts with larger trade amounts and Trailing Drawdowns. These accounts come with 8 or 12 contracts, respectively, and require higher commitments of up to $220 per month. Finally, the Burst, Explode, and Glide Accounts provide access to even higher trade amounts - up to $300,000 - and Static Drawdowns on the Glide Micro Account.
Upon successfully completing the qualification process, traders interested in receiving funding from Leeloo Trading will receive a contract to sign. This contract outlines the terms and conditions of the funded account, including the amount of funding the trader will receive and any fees or commissions that may be charged.
Once the contract has been signed, the trader can choose to receive a funded account with the same size as their earlier evaluation account, or opt for a larger $100k account with a static drawdown. The static drawdown is a fixed amount subtracted from the trader's account balance and does not change over time.
Traders who choose the larger account size may have more potential for profits, but they will also be required to manage a larger amount of risk.
TopStep Vs. LeeLoo: TopStep Funding Process
TopStep is an excellent platform for traders looking to make real money. The Trading Combine is a great way to test your skills in a simulated market, whether you are a new trader looking to gain experience or an experienced trader testing out new strategies. The process to participate in the Trading Combine is straightforward – simply register on the TopStep site and work your way through the two steps, which test your ability to hit profit targets and limit losses.
Once you pass the Trading Combine, you will be given a real money account to trade with. If you are successful in your trades, you will move on to a live account where you can keep your profits.
Three different account options are available – a $50K account, a $100K account, and a $150K account. Each account has its own profit target, contract limits, and daily loss limits.
Overall, TopStep is an excellent platform for traders looking to make real money and improve their trading skills. The Trading Combine is a great way to test your skills in a simulated market, and the live account options allow you to keep your profits if you are successful in your trades. In addition, the cost of the account options is reasonable, considering the potential profits you can make. If you are interested in trading, give TopStep a try.
Leeloo Vs. TopStep: TopStep Cost
TopStep offers a range of funded trading accounts, each with its own set of fees and benefits.
One of the great things about TopStep is that it has three different account options to choose from, depending on your trading experience and goals. The smallest account is the $50,000 account, which costs $165 per month. This is a great option for those new to trading or who want to start with a smaller investment.
The $100,000 account is a good choice for those looking to make larger trades. This account costs $325 per month and allows you to trade with more buying power. Finally, the $150,000 account is ideal for experienced traders looking to make more substantial trades. This account costs $375 per month.
Once you have completed the Trading Combine and proven your skills, you can move on to a live-funded trading account where you can trade with real money and keep your profits. First, however, you will need to pay monthly subscription fees for your professional data platform. Depending on your account type, these fees range from $100 to $150 per month. Alternatively, you can upgrade to a Pro Account at any time, which comes with no monthly fees but instead charges a performance-based rebate on net monthly profits.
Overall, TopStep is an excellent platform for traders looking to make real money and improve their skills. The company offers a range of account options to suit different needs and budgets, and the Trading Combine is a great way to test your skills in a simulated market. So if you're interested in trading, give TopStep a try and see how it can help you achieve your financial goals.
LeeLoo Vs. TopStep: LeeLoo Costs
It appears Leeloo has various accounts available to its users, each with different balances and associated costs.
- The Leeloo Express account has a balance of $100,000 and costs $77 for a non-recurring period of 14 days. The account has a profit target of $6,000 and a trailing drawdown of $3,000.
- The Aspire account has a balance of $25,000 and costs $150 per month repeatedly. It has a profit target of $1,500 and a trailing drawdown of $1,500.
- The Launch account has a balance of $50,000 and costs $180 per month regularly. It has a profit target of $3,000 and a trailing drawdown of $2,500.
- The Climb account has a balance of $100,000 and costs $220 per month on a recurring basis. It has a profit target of $6,000 and a trailing drawdown of $3,000.
- The Cruise account has a balance of $150,000 and costs $305 per month on a recurring basis. It has a profit target of $9,000 and a trailing drawdown of $5,000.
- The Burst account has a balance of $250,000 and costs $525 per month on a recurring basis. It has a profit target of $15,000 and a trailing drawdown of $6,500.
- The Explode account has a balance of $300,000 and costs $675 per month on a recurring basis. It has a profit target of $20,000 and a trailing drawdown of $7,500.
- The Glide | Micro account has a balance of $100,000 and costs $625 per month on a recurring basis. It has a profit target of $2,000 and a static drawdown of $625.
All of the accounts, except for the Leeloo Express account, are eligible for a reset at the cost of $85.
TopStep Vs. LeeLoo: Profit Splits
LeeLoo and TopStep are two companies that offer a unique profit split structure for their traders. Both firms incentivize traders to be successful by offering a profit split that is favorable to the trader. However, some differences between the two companies are worth considering.
First, let's take a look at the initial profit threshold. LeeLoo's threshold is set at $12,000, while TopStep's is set at $5,000. With LeeLoo, a trader will have to generate more profits before the profit split changes. This could potentially be seen as an advantage for LeeLoo, as it gives traders more time to establish themselves before the profit split changes.
However, it's worth noting that the profit split is more favorable for traders with TopStep. After the initial threshold is reached, LeeLoo offers a 90/10 split where the trader receives 90% of their profits, and the firm retains 10%. On the other hand, TopStep also offers a 90/10 split, but the trader receives 100% of their profits up to $5,000. This means that with TopStep, traders will receive a higher percentage of their profits in the early stages of their trading career.
Ultimately, the choice between LeeLoo and TopStep will depend on a trader's circumstances and goals. For example, traders looking to generate larger profits in a shorter period may prefer LeeLoo's higher threshold and more favorable profit split. On the other hand, traders who are just starting out and looking to build their profits gradually may prefer TopStep's more generous profit split in the early stages of their trading career.
Leeloo Vs. TopStep: Customer Support
Regarding customer support, both LeeLoo and TopStep offer multiple ways for traders to get in touch with them. However, there are some differences worth noting.
TopStep provides phone support during business hours, a convenient option for traders who prefer to speak to a representative directly. They also offer email support and a chat function on their website. This means that traders have multiple options for getting in touch with the firm and can choose the best method.
LeeLoo, on the other hand, provides support through form submissions and live chat. While this is still a good range of options, it's worth noting that the availability of live chat is not explicitly stated on their support page. This could be a concern for traders needing to get in touch with the firm outside of business hours or who prefer to speak with a representative in real time.
Overall, both LeeLoo and TopStep offer a good range of options for customer support. However, TopStep's phone support and more detailed information about the availability of their live chat function may give them an advantage in this area.
LeeLoo Vs. TopStep: Summary
Who Should Choose LeeLoo?
LeeLoo Trading is a funded trading account provider that offers a unique profit split structure for its traders. Under this structure, traders are entitled to receive 100% of the first $12,000 in live trading profits. After this initial threshold is reached, the profit split changes to 90/10 in favor of the trader, meaning that they will receive 90% of their profits when they withdraw.
This profit split structure incentivizes traders to be successful and rewards them for their hard work and expertise. It also aligns the interests of the trader and the firm, as both parties stand to benefit from the trader's success.
LeeLoo Trading may be a good fit for traders looking for a funded trading account and are confident in their ability to generate profits. In addition, the favorable profit split structure is likely attractive to traders looking to maximize their earnings.
However, it's worth noting that funded trading accounts have some risks and responsibilities. For example, traders will need to meet specific requirements and follow the firm's rules to maintain their funded account. As such, traders who are not comfortable with these requirements or are unsure of their ability to meet them may want to consider other options.
Who Should Choose TopStep?
Topstep is a trading program that provides funds and a platform for experienced traders to use when trading futures. The program is designed for traders with a proven track record of consistently following a set of rules and guidelines and generating consistent profits. In return for providing traders with the capital and platform to trade, Topstep takes a percentage of any profits earned.
One of the benefits of the Topstep program is its flexibility. Traders can choose their own trading strategies and are not required to follow any specific approach. Additionally, the program is easy to use and allows traders to access a wide range of futures markets.
Overall, Topstep is an excellent option for experienced traders looking for funding to trade futures. By providing traders with the capital and platform they need to succeed, Topstep can help them achieve their financial goals. So, it is an excellent opportunity for experienced traders to enhance their trading skills and earn profits.
LeeLoo and TopStep are both companies that provide funding to professional traders, but they have different approaches to the qualification process and the terms of their funded accounts. LeeLoo offers a range of practice accounts that allow traders to test their skills and qualify for funding, while TopStep requires traders to pass the TopStep Trading Combine Challenge in order to be eligible for a funded account.
Both companies charge performance fees on profits generated in the funded accounts, but the percentage of the fee and the terms of the funded accounts may vary. Therefore, it is important for traders to carefully consider their options and choose the company that best fits their needs and goals.