City Traders Imperium and Topstep have been subjects of many finance discussions lately. Experts have featured and evaluated 37 companies in the TU rating, evaluating the companies based on the 100+ criteria, including a test on account opening. This article explores the specifics of these evaluations, revealing how these companies fare in crucial areas such as user experience, customer support, and overall reliability.
Expert opinion on City Traders Imperium and Topstep
TU experts commended both City Traders Imperium and Topstep. The latter secured the top spot of the TU’s latest ranking with an outstanding score of 9.65 out of 10. The first spot among the 37 companies after a rigorous assessment of over 100 criteria is a proof.
Meanwhile, City Traders Imperium has been commended for its strong risk management and innovative trading strategies. It scored 5.38 out of 10.00, ranking 19th among the 37 companies featured in the rating. On successful trades, clients receive a profit split of 70-100%, while offering intraday and long-term plans, direct funding, and a £109 minimum deposit. Instruments offered on the platform include CFDs on currency pairs, indices, gold, silver, and oil. City Traders Imperium trades Forex, Metalls, CFDs, and indices.
Pros of using City Traders Imperium
UK-based owner prop company City Traders Imperium offers many benefits. First, it caters to traders from over 60 countries, including the United States, which can speak of its credibility. The broker is also compatible with the MetaTrader platform, making it highly accessible to all types of traders, beginners or advanced.
City Traders Imperium offers features that support the activities of an active trader, such as a one-time tariff plan subscription fee, leverage, and high-quality trader training are further remarkable advantages. Traders can choose between GBP or USD for account currencies, with a considerable minimum deposit of £109. There are different amounts for leverage, up to 1:33 for intraday trading and 1:10 for other strategies, while spreads go as low as 1 pip, and the broker has a good range of instruments: CFDs on currency pairs, indices, commodities.
It is important to be aware of the potential limitations of City Traders Imperium. These include restrictions on certain trading strategies and styles, a smaller selection of tradable assets compared to competitors, and the lack of demo account options for traders.
Topstep as a premiere prop trading
One of the standout features of Topstep is its inclusive approach to the trader experience. It has a unique two-step evaluation process, simplifying the sign up process and encouraging more traders to register on its platform.
In 2024, experts' Topstep review functions as a guide for traders with basic knowledge of trading futures, which is the platform’s specialty. To open a fully funded account,
the guide highlights that traders must complete a two-stage trial period for Topstep’s three account sizes: $50,000, $100,000, and $150,000. A good range of trading instruments are offered to Topstep users, all for a low minimum deposit of $1.
Topstep broker’s overall score
The table below shows the comparison between Topstep and City Traders Imperium across different categories, evaluated by experts.
| Parameters |
Topstep |
City Traders Imperium |
| User-satisfaction |
9.31 / 10 |
5.93 / 10 |
| Regulation and safety |
9.14 / 10 |
9.18 / 10 |
| Commissions and fees |
6.21 / 10 |
6.91 / 10 |
| Trading instruments |
7.15 / 10 |
6.28 / 10 |
| Brand popularity |
9.20 / 10 |
7.09 / 10 |
| Customer support |
6.13 / 10 |
5.12 / 10 |
| Education |
8.35 / 10 |
7.84 / 10 |
In terms of popularity, experts reported that Topstep captured 10.0% to 19.0% of the sign-ups from the Traders Union website in 2023. In comparison, only 1.0% to 5.0% of users chose City Traders Imperium as their broker in the same period. The firm offers 33 expert-developed tactics to over 8,000 Discord members, each funded up to $4,000,000.
Things to consider in a prop trading firm
As mentioned in the newsBTC article, for those considering involvement in prop Forex trading,
emphasis is given to research and a clear definition of profit objectives before embarking on this investment journey. City Trading Imperium and Topstep provide traders with prop trading services. Here is a detailed comparison of both platforms:
| Prop Trading Firm |
Pros |
Cons |
| Topstep |
- Cheapest prop trading account is $49 per month which allows traders to create an unlimited number of accounts
- No daily drawdown, only an overall one
- You can earn 25% from each referral transactions (deposit, renewal, reset)
|
- Has only three account sizes: $50,000, $100,000, and $150,000.
- Does not offer bonuses or passive income sources
|
| City Traders Imperium |
- Flexibility to trade at your own pace
- Gets funded on the same day if you meet the criteria
- More freedom and control over the trader’s trading activities
|
- Not advisable for novice traders
- Skills and understanding of the markets is needed before applying for a funded account
|
According to Mikhail Vnuchkov, a seasoned trader and analyst, Topstep is perfect for those seeking easy entry into prop trading, flexible conditions, and a great referral program. On the other hand, City Traders Imperium is ideal for experienced traders who value flexibility and quick funding. Your choice between the two depends on your trading style, preferences, and experience.
Quick reference to prop trading
Prop firms provide traders with capital to reach profit goals. These firms let traders trade on their behalf instead of using personal funds. Each prop firm offers different setups and trading instruments, making it important to choose one that fits your trading style and preferences. Some of the top recommendations in 2024 are Topstep and Fidecrest, both known for their upfront payouts and low entrance fees.
Prop trading involves high risk and high reward ratio, and traders are reminded to exercise utmost caution at all times when trading for a prop firm. Checking conditions before signing up to an agreement is always encouraged.
Conclusion
City Traders Imperium and Topstep have become rising stars in the prop trading world, according to finance experts. After evaluating 37 companies, experts praised Topstep for its easy entry, flexible trading conditions, and high user satisfaction, earning it the top spot with a score of 9.65 out of 10. City Traders Imperium, known for its strong risk management and innovative strategies, scored 5.38 out of 10, ranking 19th.
