Support Board
Date/Time: Wed, 27 Nov 2024 19:32:51 +0000
Topstep Funded Account + Sierra Charts
View Count: 3673
| [2021-12-09 01:15:45] |
| SK819618 - Posts: 9 |
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I want to make sure I understand what I need to pay for when using Sierra Charts with my Topstep Funded Account. Could you please confirm if I understand this correctly? 1. Sierra Charts Service Package SP10 or greater: I need to activate the Sierra Charts platform by purchasing a Service Package (SP10 or greater). And I understand that it comes with the Denali Data Feed usage. 2. Exchange Fees: Topstep has us pay "CME Professional Data Subscriptions" for each of the different futures exchanges (at time of this post ~105USD/exchange). [https://help.futures.topstep.com/hc/en-us/articles/360045068494-What-are-the-costs-in-the-Funded-Account] If I understand this correctly, does this mean I do NOT need to activate "[Optional] Denali Exchange Data Feed - Real-time data for CME / CBOT / NYMEX / COMEX / EUREX / CFE exchanges"? Furthermore, if above is correct, does that mean I am receiving real-time data from the exchange through Rithmic? |
| [2021-12-09 09:53:14] |
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1. Yes Service Package 10 or higher: Follow these instructions to add usage time to your Sierra Chart account:
1. Select "Help >> Account Control Panel" on the Sierra Chart software menu. On the displayed webpage, click on "Activate Services". Or you can also go to this page in your browser: https://www.sierrachart.com/UserControlPanel.php?page=ServicesActivation Login with your Sierra Chart Account Name and Password. 2. Choose the particular Service Package that you want to automatically renew and press the "Update/Set" button. 3. Add sufficient credit to your Services Balance using any of the available payment options: https://www.sierrachart.com/UserControlPanel.php?page=AddAccountCredit For further information, refer to: Sierra Chart Purchase and License Information: Renewing Access ---- 2. Can you avoid paying this exchange fee through top step trader?: Topstep has us pay "CME Professional Data Subscriptions" for each of the different futures exchanges (at time of this post ~105USD/exchange). [https://help.futures.topstep.com/hc/en-us/articles/360045068494-What-are-the-costs-in-the-Funded-Account] You are going to have dramatically more reliable data from the Denali Exchange Data Feed rather than through Rithmic. Especially with historical data. If you do not pay this fee through the Denali Exchange Data Feed, then the data comes from Rithmic. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2021-12-09 09:53:23
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| [2021-12-09 18:49:54] |
| SK819618 - Posts: 9 |
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2. Can you avoid paying this exchange fee through top step trader?:
I just received a response from Topstep and they stated: "When you are funded you will still need to pay for data from us because you will be trading a sub-account of our master account and would be considered a professional trader." So as of now, it seems if I want to use Denali Data Feed activated via Sierra Charts, I will be paying for both Rithmic CME data and Denali CME effectively paying for the exchange twice. I have submitted a request with Topstep to consider an option for their funded traders to pay a reduced fee for order routing only through Rithmic so that the trader can pay for the exchange and receive the data through another platform. Message to Topstep: Can submit a request to consider for future development?
Seeking a reduced price option to allow for order-routing only through Rithmic. This way we can still route our orders through Rithmic for the funded account, but the trader can use whichever charting platform and data subscription without paying exchange fees twice. Currently, it seems if we want to use Sierra Charts' Denali Data Feed: 1. Pay for CME data subscription + order-routing through Rithmic: Paid to Topstep ($105) 2. Pay for CME data subscription through Sierra Charts/Denali Data Feed Paid to Sierra Charts ($115) Proposed setup: 1. Pay for order-routing only through Rithmic Paid to Topstep at reduced cost. (<$105) 2. Pay for CME data subscription through Sierra Charts/Denali Data Feed Paid to Sierra Charts ($115) The benefit for the trader would be a data service that runs more optimally with Sierra Charts while still routing orders USING sierra charts connected to Rithmic. |
| [2021-12-16 22:11:00] |
| Sierra_Chart Engineering - Posts: 17198 |
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The easiest solution now is to do what is explained here: Easy Solution to CME Funded Trading Account Requirement Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2021-12-16 22:28:11
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| [2021-12-16 22:28:17] |
| Sierra_Chart Engineering - Posts: 17198 |
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The above post has been updated.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-12-08 06:45:48] |
| Alex Q - Posts: 98 |
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You are going to have dramatically more reliable data from the Denali Exchange Data Feed rather than through Rithmic. Especially with historical data.
If you do not pay this fee through the Denali Exchange Data Feed, then the data comes from Rithmic. If I have a funded account through Topstep and have to pay through data through them, will I still have the option to pay for CME data through Sierra? I understand that I will be paying for the data twice, but if I understand correctly, I'll still be able to use topstep, but I will be receiving data through you? |
| [2022-12-08 14:05:58] |
| John - SC Support - Posts: 36342 |
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If I have a funded account through Topstep and have to pay through data through them, will I still have the option to pay for CME data through Sierra?
Yes, you can still get the data from us even if you are paying for the data through TopStep. Sierra Chart is setup to look to get the data from us first, then will look to the setup trading service if you are not setup for data from us. I understand that I will be paying for the data twice, but if I understand correctly, I'll still be able to use topstep, but I will be receiving data through you?
Yes. For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-12-08 17:00:12] |
| Alex Q - Posts: 98 |
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Excellent. Thanks as always, John. I'm assuming there is no way around paying the professional rate twice? For example: having an open/funded account with Stage 5?
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| [2022-12-08 18:44:07] |
| John - SC Support - Posts: 36342 |
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As long as you are not actually a Professional trader and you are not listed on the FINRA as a professional, then we consider you a non-professional. In order to qualify for the non-professional exchange fees from the CME Group, however, you need to have a live, funded, futures trading account. If you do not already have a personal account for this, then we recommend the solution outlined at the following link: Easy Solution to CME Funded Trading Account Requirement You can then get the CME Group data at the non-professional rate from us. You will find the instructions to setup the Denali Exchange Data Feed for the CME Group data at the following link: Denali Exchange Data Feed: *Setup Instructions: CME/CBOT/NYMEX/COMEX Exchanges* For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-12-08 18:57:08] |
| Alex Q - Posts: 98 |
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At the moment I am classified as "non-professional". However, I am trying to gather an intimation of the future if I were to get funded by Topstep. The data feed through Sierra is superior, which I would need. However, at the point of funding I would then be considered a "professional". I am assuming I would have to pay the professional rate for data twice (once through Topstep, and once through Sierra), and that there is no cheaper way to do this?
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| [2022-12-08 19:30:15] |
| John - SC Support - Posts: 36342 |
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The main thing to do to try and save money is to tell Rithmic that you do not want to pay for their data. Then you would only be paying the one fee to us.
For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2022-12-08 19:35:22] |
| Alex Q - Posts: 98 |
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If I can tell them to shove it I will! Thanks, John!
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| [2023-04-19 09:18:41] |
| RLubowa - Posts: 3 |
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is it possible to pay only data feed from sierra charts without paying the data feed from top set funded account in 2023 to avoid paying twice?
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| [2023-04-19 10:53:00] |
| Sierra_Chart Engineering - Posts: 17198 |
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We would think that is possible. But you really have to ask top step trader. You might still have to pay through them.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, use the Teton service: Sierra Chart Teton Futures Order Routing |
| [2023-07-15 18:07:52] |
| User708541 - Posts: 87 |
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Here's my understanding on this whole Professional Trader thing and Sierra (or any platform). Once you are a funded trader with TopStep, you need to pay for data through TopStep. You can only use the date designed to run on all TopStep funded accounts. A TopStep funded trader is actually trading a sub-account within TopStep's main account. Since you are trading a TopStep sub-account, you need the data for that sub-account. The only data allowed requires professional status fees. You can't trade TopSetp and route your trade through Denali for example. However, just because you are a funded trader, paying professional data fees to trade TopStep's sub-account, does not mean you are a professional trader as defined by US tax code. As a TopStep funded trader you won't be listed on FINRA as a professional trader. |
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