Decoding Topstep's market data fees: An in-depth analysis

When you're navigating the world of funded trading, understanding every line item on your cost sheet is paramount. For Topstep traders, market data fees are a significant piece of that puzzle. Let's break down exactly what you'll encounter.

1. How much are market data fee for Top step's live funded accounts?

From my experience, one of the first things funded traders notice is the shift in how market data is handled. This change is tied to your classification once you move into a live funded account.

2.1.1. The "Professional" trader classification

Once you become a funded trader with Topstep, exchanges like CME classify you as a "Professional Trader." This isn't a badge of honor in terms of fees, unfortunately.

From challenge to credibility Topstep traders earn professional status

It means you're subject to a different and typically higher data fee structure compared to retail traders. These distinctions exist because you're now trading live capital through a commercial entity, even if it's a prop firm.

1.2. CME professional data subscriptions

The core of your market data costs revolves around these subscriptions. As a funded trader, you're responsible for the CME Professional Data Subscription fees. Topstep collects these fees monthly via credit card, as the exchanges directly debit Topstep. It's important to understand that Topstep simply passes these costs along; they don't profit from them.

• Cost per exchange: Each individual exchange (CME, NYMEX, COMEX, CBOT) costs $133 per month. This fee applies across most trading platforms.
• Total for all exchanges: If you want access to all permitted products across all four major exchanges (CME, CBOT, NYMEX, and COMEX), your total monthly data fee will be 532 USD (133 per exchange).

1.3. Example scenarios

To illustrate, consider these common scenarios for how much are market data fees for Topstep:

• If you trade only E-mini S&P 500 futures, which fall under the CME exchange, you'd pay $133 per month.
• Should your strategy involve Crude Oil (NYMEX) and Gold (COMEX) in addition to E-mini S&P 500, your monthly fee would be $133 x 3 = $399.

1.4. Important note: Exchange fees are generally not pro-rated

Here’s a critical point to save you from wasting money: exchanges typically don't pro-rate data fees. In other words, even if you activate your Live Funded Account midway through the month, you still have to pay the full fee for that month.

For this exact reason, my genuine advice is to always try to start your Live Funded Account on the first of the month to get the full value out of your subscription.

Continue reading this article: https://h2tfunding.com/how-much-are-market-data-fee-for-top-step/

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