Complaint Review: TopStepTrader.com - Chicago Select State/Province

   TopStepTrader (TST) is an institution which aims to fund trading accounts for aspiring futures traders.  After completing a MONTH LONG combine (trail) that is based on testing the ability of successful financial gains, topsteptrader.com supposedly funds a trading account and takes a percentage of profits prodced by the trader.  However, after successfully completing a MONTH LONG combine a rep, from TST contacted me via instant message and email explaining that they (tst) were not following my trading activity close enough, therefore, would not be funding a trading account.  I explained that I was following all the guidelines as agreed and my trading history proved my success, and to please view the recorded history diligently.  After further review the head of TST, Mike Patak (Nebraska) emailed me explaining that if I completed another 2 week combine successfully I would proceed as a funded trader.  I pleaded my case- explaining that this was not part of the original agreement and felt like I was being backed into a corner. I didn't have a choice if I wanted to become a funded trader, so I took on the 2nd combine.  Again, saving all my trade history and now saving any instant messages or emails I moved forward.  The 1st trading day of the 2nd combine, I traded light and broke even for the day.  Upon signing back on later that day, I noticed my account was showing down money.  After, looking at the execution history, it was crystal clear multiple rouge trades within a span of an hour had been executed by a staff member of TST (and still have printed records to prove it).  This obviously was an outrage and contacted the TSTsupport desk immediately.  They were very slow to respond and claimed they had no idea how that could happen.  Long story short, it was determined that I did not execute the trades, and the losses were refunded into the account, but never a word about who executed the trades.

  

A few days later I was trading the open of the markets and had posted a gain of approx $800.00.  I noticed after my trading activity had slowed, my gains were reset.  Ok, I thought this was just a glitch and I will contact support.  No, a TST member explained that I was trading thin markets and was not supposed to trade this type of market so the gains have been reset. I told them I had all my execution history saved, and would be happy to email them to show every trade was legit.  However, nothing in my favor was done, so I requested to speak to Mike Patak, who bascially said if I don't like it too bad.  I continued to explain that I had put a lot of time and dedication into these trails, and in return people who sign up for your program should at least get a fair shake.  He advised to finish out the combine and take it from there.

  

I continued on half heartedly and only days later another problem had emerged.  I had closed out all of my trading positions up over $900.00 and decided I was done trading for the day.  I left my computer running to watch the markets.  About an hour later, I noticed my profits for the day were fluctuating and then going steadily down.  My position monitor showed I had a trade on, but the exeuction history did not have record of any trades being made after I closed out all positions for the day.  I called TST, and again no one knew what was going on.  After looking into it, it was clear only TST can manipulate a position without executing a trade.  I knew then that this was a complete waste of time and dedication.

  

Upon noting that TST is a scam I contacted a lawyer and askid if this was terms of unethical business practice, and if anything could be done.  He said this is absolutly unfair business practice, but I should contact a financial specialist (lawyer) who could assist me further.  I am currently looking into this, and I advise anyone who is looking to use this program as a tool, don't be a fool; this is a scam and a complete waste of time.