Top One Trader

What is Top One Trader?

Top One Trader is a proprietary trading firm, also known as a prop firm, that has established itself in the competitive financial sector with the goal of providing capital to talented traders worldwide. The company has successfully attracted thousands of traders from over 100 countries, offering them a platform to build a professional trading career without risking their own capital.

The company’s philosophy is based on three fundamental pillars that define its approach and operations: Trust and Integrity, Exceptional Support, and a strong Culture and Community. These principles aim to differentiate it from other firms, promoting an environment of collaboration and long-term growth.

Company Information

The founding team of Top One Trader is one of its most distinctive aspects, as it combines deep trading experience with solid knowledge in business management, operations, and large-scale marketing. This strategic mix of skills suggests a robust corporate foundation, designed not only for success in the markets but also for business sustainability and growth.

The management team is composed of:

• Clay Hodges (Co-founder and Chief Trading Officer): A master-level trader recognized as one of the top 10 trading coaches globally. His role is to lead innovation on the platform and in the trading community.
• Matt Morris (Co-founder and CEO): An entrepreneur with 29 years of experience, having been the majority owner of 8-figure businesses and a partner in a company that generated over $5 billion in revenue. His experience brings a high-level strategic and financial vision.
• Todd Hodges (Co-founder and Chief Operating Officer): With over a decade of business experience, he is responsible for the operating systems and the global support team, ensuring scalability and operational excellence.
• Brycen Coffman (Co-founder and CEO): A marketing and operations expert who has worked as a consultant for multiple 8-figure corporations, bringing the necessary knowledge for the firm’s growth and expansion.

This leadership structure is a key differentiator. Many prop firms are founded exclusively by traders who, while understanding the markets, may lack the business acumen needed to manage growth, customer support, and long-term financial stability. The presence of executives with experience in billion-dollar companies indicates a serious and well-capitalized operation, which reinforces the credibility of their mission.

The stated mission of Top One Trader is to “empower traders to achieve financial freedom.” The firm is committed to keeping its promises, especially regarding payouts, under the motto “Payouts You Can Count On.” They explicitly position themselves against the “churn & burn” mentality, instead seeking to build long-term relationships and sustainable careers for their traders.

Top One Trader Funding Programs

Top One Trader offers four distinct funding programs, a diversity that constitutes one of its greatest strengths. This variety allows the firm to cater to a broad spectrum of traders, each with different trading styles, risk tolerances, and preferences regarding evaluation processes.

When analyzing the four programs, a clear pattern emerges that defines the company’s risk management philosophy: there is an inverse correlation between the ease of access to capital and the strictness of the trading rules. In other words, the faster and more direct the path to obtaining a funded account, the stricter the risk controls or the less favorable the initial conditions.

This approach presents traders with a clear trade-off: speed and immediate access in exchange for greater restrictions, or a more methodical evaluation process in exchange for greater operational freedom. The instant funding programs eliminate the risk filter of a challenge, so the firm compensates for this higher risk with stricter rules, such as a lower initial profit split or tighter drawdown parameters. Conversely, the two-step evaluation programs, which allow the firm to verify the trader’s consistency and skill, offer the most flexible conditions.

Understanding this dynamic is crucial for a trader to choose the program that best suits not only their strategy but also their discipline and risk management.

One-Step Program (Flash Challenge)

The One-Step program, also known as the “Flash Challenge,” is designed for traders seeking the fastest path to a funded account through an evaluation process. It consists of a single phase in which the trader must demonstrate their ability to generate profits consistently.

The profit target for this challenge is 10% of the initial account balance. The risk rules are a maximum daily loss limit of 4% and a total maximum drawdown of 7%. It is crucial to note that this drawdown is of the “trailing” type. This means the loss limit follows the account’s equity high-water mark until a 7% profit is reached, at which point the drawdown is permanently locked at the initial account balance. This type of drawdown is more demanding than a static one, as it reduces the room for error as unrealized gains are made.

Below is a table with the details of each account size available in the One-Step program.

Account Size	Phases	Profit Target	Maximum Drawdown	Daily Drawdown	Price
$5,000	1	10%	7%	4%	$59
$10,000	1	10%	7%	4%	$99
$25,000	1	10%	7%	4%	$199
$50,000	1	10%	7%	4%	$265
$100,000	1	10%	7%	4%	$532
$200,000	1	10%	7%	4%	$999

Two-Step Program (Pro Challenge)

The Two-Step program or “Pro Challenge” is the traditional evaluation model that many prop firms use. It is structured in two phases and is aimed at traders who prefer a more methodical process and are comfortable with industry-standard conditions.

The first phase requires the trader to reach an 8% profit target. Once passed, the second phase has a lower target of 5%. The main advantage of this program lies in its risk parameters, which are considerably more flexible than those of the one-step model. The daily loss limit is 5%, and the total maximum drawdown is 10% and is “static.” A static drawdown does not follow profits; it is permanently fixed at 10% below the initial balance, providing the trader with a constant and predictable risk cushion.

This program also includes a 50% consistency rule, which stipulates that the profits from a single trading day cannot account for more than 50% of the total profit target for that phase. This rule aims to encourage consistent profitability rather than reliance on a single lucky trade.

Below are the details of the accounts in the Two-Step program.

Account Size	Phases	Profit Target (P1/P2)	Maximum Drawdown	Daily Drawdown	Price
$5,000	2	8% / 5%	10%	5%	$79
$10,000	2	8% / 5%	10%	5%	$125
$25,000	2	8% / 5%	10%	5%	$235
$50,000	2	8% / 5%	10%	5%	$325
$100,000	2	8% / 5%	10%	5%	$700
$200,000	2	8% / 5%	10%	5%	$1,195

Instant Funding Program

The Instant Funding program is designed for traders who want to skip the evaluation phase entirely and start trading with a funded account from day one. This model eliminates the pressure of having to meet profit targets in a test environment.

However, this direct access to capital comes with a different set of conditions. The main trade-off is a less favorable initial profit split for the trader. It starts at 60% for the trader and 40% for the firm. This percentage progressively increases with each successful withdrawal, reaching a maximum of 90% for the trader.

Regarding risk rules, this program has no daily loss limit, but it does have a 6% total maximum “trailing” drawdown. Additionally, a consistency rule is applied, varying between 15% and 20% (depending on the account size and purchase date), which limits the percentage of total profits that can be made in a single trading day.

The following table summarizes the accounts available in the Instant Funding program.

Account Size	Phases	Maximum Drawdown	Price
$5,000	Instant	6%	$125
$10,000	Instant	6%	$209
$25,000	Instant	6%	$392
$50,000	Instant	6%	$543
$100,000	Instant	6%	$1,057
$200,000	Instant	6%	$2,349

Instant PRIME Program

The Instant PRIME program is Top One Trader’s most affordable instant funding option. It is aimed at traders who are confident in their ability to trade in a highly consistent and disciplined manner. Like the other instant funding model, it has no profit targets to meet and also eliminates the daily loss limit.

This program introduces two unique and sophisticated risk parameters. The first is a “Daily Pause Limit” of 2.5%. If losses in a day reach this threshold, trading is temporarily frozen until the next day. The second is the “Equity Stability Score” (ESS). To request a withdrawal, a trader must have an ESS of 30% or lower. This metric compares the best profit day with the worst loss day in relation to the total profit, thus penalizing erratic or “gambling-like” performance.

The total maximum drawdown in this program is 5% and is of the “trailing” type, being the tightest of all programs offered by the firm, reflecting the high level of discipline expected from traders who choose this option.

The details of the Instant PRIME accounts are shown below.

Account Size	Phases	Maximum Drawdown	Price
$5,000	Instant	5%	$87
$10,000	Instant	5%	$146
$25,000	Instant	5%	$274
$50,000	Instant	5%	$380
$100,000	Instant	5%	$739
$200,000	Instant	5%	$1,644

Trading Rules at Top One Trader

Top One Trader has established a set of trading rules designed to effectively manage risk and encourage disciplined trading habits. These rules vary in their application depending on the account type and whether the trader is in the evaluation phase or is already funded.

General Rules for All Accounts

Certain rules apply generally to all Top One Trader programs, forming the basis of their risk management framework.

The types of drawdown are a central pillar of these rules. The firm uses two types:

• Static Drawdown: Applied exclusively to the “Pro” 2-Step program accounts. It is calculated as a fixed percentage of the initial account balance and does not change, regardless of the profits made. For example, on a $100,000 account with a 10% static drawdown, the loss limit will always be $90,000.
• Trailing Drawdown: Used in the “Flash” 1-Step and Instant Funding programs. This drawdown follows the account’s equity high-water mark. For example, on a $100,000 “Flash” account with a 7% drawdown, the initial limit is $93,000. If the account equity reaches $105,000, the limit moves up to $98,000. This trailing stops and the drawdown locks at the initial balance under specific conditions, such as after reaching a certain profit percentage in the Flash program or after the first withdrawal on funded accounts.

Another fundamental rule is the mandatory Stop Loss. Every trade must have an active stop loss at the time it is opened. If a trade is opened without one, the platform will automatically close it, which is considered a “soft breach.” This rule aims to instill discipline, although Top One Trader offers the option to purchase an add-on during the checkout process to remove this requirement. This option not only monetizes flexibility but also serves to identify traders who are fully confident in their own risk management systems.

Finally, there is an inactivity rule. If an account does not register any trades for a period of 30 consecutive days, it will be considered a breach, and the account will be closed.

Permitted and Prohibited Trading Strategies

Top One Trader allows a variety of trading styles but imposes strict restrictions on certain practices to protect the integrity of its platform and the sustainability of its business model.

Permitted Strategies:

• Expert Advisors (EAs): The use of EAs is allowed, but with an important condition: they must be unique to each trader. The use of commercial EAs that execute identical trades to those of other users on the platform is prohibited and can lead to account closure.
• Copy Trading: Only copying trades between accounts belonging to the same person is permitted. Copying trades from friends, family, or signal services is strictly prohibited. The firm uses an automated system to detect this type of activity.
• News Trading: During the evaluation phases (1-Step and 2-Step programs), traders have complete freedom to trade during high-impact news events.

Prohibited Strategies: The firm explicitly prohibits the following strategies on all its accounts:

• High-Frequency Trading (HFT) or Tick Scalping.
• Latency or price arbitrage.
• Hedging between multiple accounts, either within Top One Trader or with other firms.
• Martingale strategy.
• Use of third-party services to pass challenges (“Pass Your Challenge”).
• “Account rolling” or “churning,” which consists of buying multiple evaluation accounts to pass one using high-risk strategies.

Specific Rules for Funded Accounts

Once a trader passes an evaluation and receives a funded account, the trading environment changes and the rules become stricter. This tightening of the rules is a capital protection measure for the firm, as the financial risk becomes real.

This change can be a critical point for many traders. A strategy that works well to pass the challenge, such as one based on high news volatility, may not be viable on a funded account due to the new restrictions. Therefore, it is essential for traders to develop a strategy that is compatible with the rules of the funded phase from the beginning.

The two most important restrictions on funded accounts are:

• News Trading Restriction: Funded traders cannot open or close trades within a 5-minute window before and 5 minutes after the release of high-impact news. There is an exception for trades that were opened at least 5 hours before the event, whose stop loss or take profit can be triggered during this period without penalty.
• Maximum Lot Size Limit: On funded accounts, a limit of open lots of 20% of the account size is applied, with a maximum cap of 20 lots in total. This rule does not apply during the challenge phases.

Payouts and Scaling Plan

Top One Trader has designed a payout system and a scaling plan that aim to reward consistency and long-term success, in line with its mission of building sustainable careers for its traders.

Profit Withdrawal Process (Payouts)

The process for withdrawing earned profits is clear and structured.

The frequency of payouts varies by program. For traders who pass a 1-Step or 2-Step challenge, the first withdrawal is available 30 days after receiving the funded account. Subsequent withdrawals can be requested every two weeks, although this frequency may require the purchase of an additional add-on. For Instant Funding programs, payouts can be requested “on demand” once the necessary conditions are met.

The payment method is exclusively through the RiseWorks platform. This platform allows traders to receive their funds via bank transfer or in cryptocurrency, offering global flexibility.

Regarding commissions and conditions, a 2% processing fee is applied to all withdrawals. Additionally, the minimum amount to request a payout is 2% of the initial account balance.

One of the most attractive benefits for traders who pass the 1 or 2-Step challenges is the refund of the registration fee. This fee is fully returned with the first profit payout, effectively eliminating the initial cost for successful traders. This policy does not apply to Instant Funding accounts.

Scaling Plan

Top One Trader’s scaling plan is a key component of its long-term value proposition. It is designed to grow the capital of the most consistent traders up to a maximum of $5 million.

To be eligible for scaling, a trader must meet specific performance criteria. They can request a review of their account every 3 months. The main condition is to have achieved a total profit of 25% during that quarter, with the additional requirement of having earned a minimum profit of 8% in each of those three months.

This 8% monthly requirement is revealing. A trader who makes 30% in the first month but then has flat or negative performance in the next two will not qualify, even if their net profit is 25% or more. In contrast, a trader with consistent gains of 8%, 9%, and 8% will be eligible. This demonstrates that the firm not only seeks profitability but also prioritizes consistency and risk management, aligning with its anti-gambling policy and the logic behind rules like the ESS.

Once the criteria are met and the request is approved, the firm increases the account capital by 25% of the initial account balance. This process can be repeated, allowing the most successful traders to manage increasingly larger capital.

Technical and Operational Aspects

Top One Trader’s technological infrastructure offers a combination of popular platforms and competitive trading conditions, albeit with some important considerations, especially for traders from certain regions.

Trading Platforms

The firm offers a solid selection of four trading platforms to suit the preferences of different traders:

• MetaTrader 5 (MT5)
• cTrader
• TradeLocker
• Match Trader

This variety is a plus, as it covers the most widely used platforms in the industry. However, there are crucial geographical restrictions. Traders from the United States are strictly prohibited from using cTrader. Furthermore, MT5 is not available for traders from the United States and Canada. This is vital information for North American clients, who will need to opt for TradeLocker or Match Trader.

Broker and Execution Conditions

Top One Trader operates under its own broker license on the platforms, under the name “Top One Trader Ltd” on the MetaTrader 5 servers, which are named “TopOneTrader-MT5” or “TopOneTrader-Trade.” Although they do not publish the names of their liquidity providers, they manage their own server infrastructure.

Commissions vary depending on the chosen platform, which can influence the profitability of certain trading strategies.

Platform	Commission (per lot, per side)
Match Trader	$2.00
TradeLocker	$2.50
MetaTrader 5	$2.50

Regarding spreads and slippage, the firm adopts a transparent stance. It provides read-only access credentials so that traders can view real-time spreads on their platforms before committing. They acknowledge that slippage is an inherent market risk, especially during high-volatility events like news, and clarify that it is a market condition beyond their control.

Leverage

Leverage at Top One Trader is not a static value but a dynamic risk management tool that is adjusted according to the account type, the phase (challenge or funded), and the asset class being traded.

This dynamic system is a key piece of their business model. During the challenge phases, leverage is higher (e.g., 50:1 on FX for the “Pro” challenge) to give traders the flexibility needed to reach profit targets. However, once the account is funded and the firm’s risk is real, that same leverage is deliberately reduced (to 30:1 in the same case).

This reduction is even more pronounced in high-volatility assets like cryptocurrencies, where leverage can go from 2:1 in the challenge to as low as 0.3:1 on the funded account. Traders must be aware that the strategy that allowed them to pass the challenge must be viable with the lower leverage of the funded phase.

The following table breaks down the complex leverage levels offered by the firm.

Account Type and Phase	Forex (FX)	Indices & Metals	Cryptocurrencies
1-Step “FLASH” Challenge	10:1	10:1	2:1
1-Step “FLASH” Funded	10:1	5:1	0.3:1
2-Step “PRO” Challenge	50:1	10:1	2:1
2-Step “PRO” Funded	30:1	5:1	0.3:1
Instant Funded	50:1	10:1	1:1
Instant PRIME Funded	10:1	5:1	0.3:1

Additional Information

To complete this analysis, it is important to cover other operational aspects that affect the trader’s experience, such as available instruments, geographical restrictions, and the quality of customer support.

Tradable Financial Instruments

Top One Trader allows trading in the main asset classes, offering adequate diversification for most trading strategies. The available assets include:

• Forex: Major, minor, and exotic currency pairs.
• Metals: Primarily Gold (XAU) and Silver (XAG).
• Indices: Stock market indices from major world economies such as the US30, S&P 500, and NASDAQ 100.
• Cryptocurrencies: The most popular cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

It is important to note that the firm explicitly states that stocks are not available for trading.

Restricted Countries

The firm has a global acceptance policy but with restrictions for countries that are under sanctions from the U.S. Office of Foreign Assets Control (OFAC). Although Top One Trader does not publish an official and exhaustive list on its website, the countries commonly included in these sanction lists are, among others, Cuba, Iran, North Korea, Syria, and the Crimea, Donetsk, and Luhansk regions of Ukraine. Traders from countries with complex geopolitical situations are advised to consult directly with the firm’s support before making a purchase.

Customer Support

Customer support is one of the pillars that Top One Trader highlights in its business philosophy. The firm advertises 24/7 support with very fast response times, often under 60 seconds for live chat.

In addition to prompt service, they also emphasize efficiency in their operational processes, such as payouts, with an average processing speed of less than two hours (excluding the setup time for the trader’s account on RiseWorks). The available contact channels are live chat on their website and email.

Strengths

Top One Trader presents itself as a versatile, ambitious proprietary trading firm with a solid business foundation. Its offering is designed to attract a wide range of traders, although their long-term success with the firm will depend on the trader’s ability to choose the right program and adhere to a strict set of rules.

The firm’s most notable strengths are:

• Diversity of Programs: With four distinct funding models (1-Step, 2-Step, Instant, and Instant PRIME), the firm covers virtually all trader preferences, from those seeking quick access to capital to those who prefer a more traditional evaluation process with more flexible rules.
• Flexibility During Evaluation: The absence of time limits to complete the challenges, along with the permission to trade news, use EAs, and hold positions over the weekend (in certain programs or with add-ons), makes their evaluations very attractive.
• Leadership and Business Vision: The founding team combines elite trading experience with a proven track record in creating and managing multi-million dollar companies. This suggests greater stability and a genuine focus on building long-term relationships, rather than a business model centered solely on challenge fees.
• Clear and Attractive Scaling Plan: The scaling program, which allows growth up to $5 million, is structured to reward consistency over volatile gains, demonstrating that they are looking for long-term trading partners.

In conclusion, Top One Trader is a very solid option in the prop firm landscape. Its main feature is the clear trade-off it offers between flexibility and restriction. Traders who want immediate access to capital must be prepared to operate under stricter conditions, while those who prove their worth through a methodical evaluation process will be rewarded with greater operational freedom.

The firm is especially suitable for disciplined and consistent traders seeking a long-term partner to scale their career. The key to success with Top One Trader lies in an honest self-assessment by the trader to select the program that best aligns with their strategy and, crucially, in the ability to adapt their trading to the more rigorous rules that apply once funding is obtained.