The
partnership gives Topstep’s trader community access to CME Group markets
through Plus500’s order routing and risk management systems.
Plus500 has
signed an exclusive agreement with Topstep that will see the London-listed
broker handle all clearing and technology infrastructure for the Chicago prop
firm’s brokerage arm and wider operations.
Plus500 Strikes Deal
With Prop Firm
Under the
arrangement, Topstep traders will access live CME Group markets through
Plus500’s clearing platform, order routing technology, and risk management
infrastructure. The deal supports Topstep’s shift from purely prop trading
services toward full brokerage operations.
Plus500 CEO
David Zruia said the partnership “marks another significant step in
Plus500’s expansion across the US futures market” and called
Topstep’s customer base and brand presence “a major opportunity for
Plus500 to expand its US footprint.”
“By
leveraging our institutional-grade infrastructure, we aim to drive stronger
customer acquisition, unlock new revenue streams, and deliver sustainable
growth for both companies.”
According
to an official statement from Plus500, this does not signal a move toward prop
challenges for retail clients of the publicly listed broker. Instead, it refers
to providing technological support for TopStep.
Plus500 Futures Business
Crosses $1 Billion Threshold
The Topstep
deal follows Plus500’s disclosure last week that customer funds in
its US futures operation exceeded $1 billion for the first time in
September. Those segregated funds reached approximately $1.2 billion by
the end of the third quarter, up from roughly $350 million at year-end
2024.
Plus500
acquired its futures business in 2021 when customer funds stood at around
$70 million. The company secured clearing memberships with ICE Clear Europe and
ICE Clear U.S. earlier this year as part of its expansion in the
derivatives space.
The broker
reported third-quarter revenue of $182.7 million, down 2% from the prior
year, while nine-month revenue rose 2% to $597.8 million. EBITDA
margins held at 45% for both periods.
Topstep
Builds Brokerage Arm
Topstep, founded
in 2012, operates an evaluation platform that allows futures traders to
qualify for funded accounts without risking personal capital. The company
runs a rules-based assessment system where participants trade simulated
accounts before gaining access to live capital.
Michael Patak,
founder and CEO of Topstep, said the exclusive partnership with Plus500
ensures “we can offer our customers a best-in-class brokerage
experience backed by world-class technology.”
“Together,
we’re expanding opportunities for active traders and strengthening the
foundations for sustainable growth.”
Topstep
Brokerage is registered as an introducing broker with the Commodity
Futures Trading Commission and holds membership in the National Futures
Association. The firm charges monthly evaluation fees ranging from $49 to
$149 depending on account size.
This article was written by Damian Chmiel at www.financemagnates.com.
Source link
