Trading gold contracts can be a captivating venture, especially when you’re exploring your options within a prop trading firm like TopStep. Designed as a simulated trading environment, TopStep allows aspiring traders to prove their discipline and skill before managing real capital. But how many gold contracts can you actually trade on TopStep? Let’s dive into this question by exploring the platform’s rules, limitations, and strategies surrounding gold futures.
TLDR: Gold Contracts on TopStep
If you’re looking to trade gold contracts on TopStep, the number you can trade depends on the type of account you choose — ranging from the $50K to the $150K Trading Combine. Generally, you can trade between 2 and 5 gold futures contracts (GC) depending on your daily loss limit and maximum position size. TopStep uses strict risk parameters to reinforce disciplined trading, so understanding your account’s limits is crucial. Gold is a volatile commodity, so even a few contracts can provide plenty of opportunity — and risk.
Understanding TopStep: A Brief Overview
TopStep is a proprietary trading firm that offers traders a chance to prove their skills in a simulated environment before being given access to funded accounts. With unique risk management rules and account tiers, TopStep is ideal for disciplined traders aiming to manage real capital:
- The Trading Combine: This is the evaluation phase where traders must meet certain profit targets without violating risk rules.
- Funded Accounts: Once a trader passes the Combine, they move onto a funded account, technically still simulated, but now with a real payout potential based on performance.
TopStep supports futures trading across a wide range of markets, including equities, currencies, agricultural commodities, and of course — metals like gold.
Gold Futures Basics
Before exploring TopStep’s rules around gold contracts, it’s crucial to understand what you’re trading. Gold futures — represented by the symbol GC — are standardized contracts traded on the COMEX division of the CME Group. Each contract controls 100 troy ounces of gold.
Here are a few key details:
- Symbol: GC
- Tick Size: $0.10 per ounce = $10 per tick
- Daily Range: Often varies between 100-200 ticks ($1,000 – $2,000 per contract)
- Leverage: High volatility offers both reward and risk
TopStep Account Sizes and Their Gold Contract Limits
TopStep’s rules on how many gold contracts you can trade are tied to the account size you select. The platform currently offers three primary account sizes during the Trading Combine:
- $50,000 Account
- $100,000 Account
- $150,000 Account
Each of these accounts has its own maximum position size, daily loss limit, and trailing drawdown. These will determine how many GC contracts you can handle at a time. Let’s explore them in detail.
$50K Account
- Max Contracts: 2
- Max Daily Loss: $1,000
- Trailing Drawdown: $2,000
With just 2 contracts allowed and a $1,000 daily loss cap, you’re operating on a tight leash. Gold’s volatility means that two contracts can easily swing your position by more than $1,000 within a short time. Careful risk management is essential.
$100K Account
- Max Contracts: 3
- Max Daily Loss: $2,000
- Trailing Drawdown: $3,000
This account offers a little more room to breathe. Trading up to 3 contracts lets you scale into or out of positions more strategically. However, large swings are still possible, and discipline remains key.
$150K Account
- Max Contracts: 5
- Max Daily Loss: $3,000
- Trailing Drawdown: $4,500
If you’re confident in navigating gold’s volatility, this account provides the flexibility to trade 5 GC contracts. This level of exposure is suitable for more advanced traders who can handle the emotional and technical game that comes with high-stakes trades.
Important Considerations When Trading Gold on TopStep
Just because you can trade multiple contracts doesn’t mean you always should. Many traders get caught up in the excitement of scaling up too quickly. Here are essential factors to keep in mind:
- Volatility: Gold often moves swiftly in reaction to economic data, Fed statements, or geopolitical events.
- News Hours: Plan your trading around major economic releases that impact precious metals — things like CPI, PCE, jobs numbers, and FOMC meetings.
- Mental Capital: Larger positions equal more emotional swings. Make sure you are not only financially but psychologically capable of holding volatile gold trades.
- Use the Simulator: TopStep has a built-in simulator that mimics real market conditions. Use it to practice your gold strategy before jumping in fully leveraged.
Micro Gold Contracts – A Worthwhile Alternative?
If full-sized GC contracts seem too risky given your account size, TopStep also allows trading Micro Gold Futures (MGC), which represent 1/10th the size of a standard contract. They move $1 per tick versus $10.
- Symbol: MGC
- Tick Value: $1
- Lower Margin: Easier to manage under account limits
These micro contracts are especially useful for newer traders or those in lower-combined tiers because they allow for better scaling and risk-adjusted execution. You could trade multiple MGC contracts to simulate partial entries without breaching position restrictions.
Strategy Tips for Gold Traders in TopStep
Gold futures operate at the intersection of global uncertainty and speculative appetite. Whether you’re a breakout trader or a mean-reversion enthusiast, here are a few suggestions:
- Time of Day Matters: The gold market is most active during the overlap of U.S. and London market hours. Pay attention to volume surges.
- Use Technical Levels: Support and resistance around whole number levels like $2,000 or $2,050 often result in emotional trading and breakout moves.
- Stay Macro-Aware: Inflation data, central bank commentary, and geopolitical stress act as catalysts.
Final Thoughts: Is Gold a Good Market for You on TopStep?
Gold futures are not for the faint of heart. They offer a playground of massive opportunity — but only if you’re prepared with excellent risk management and patience. On TopStep, you’ll be constrained by rules that may initially feel limiting but are actually designed to help you succeed in a sustainable way.
Whether you’re trading 2 contracts in a $50K Combine or managing 5 in a $150K version, discipline will always be more important than leverage. And don’t forget, you can always work with micro contracts to gain experience without blowing your limits.
In Summary
So, how many gold contracts can you trade on TopStep?
It depends on the account size:
- $50K Account: Up to 2 GC contracts
- $100K Account: Up to 3 GC contracts
- $150K Account: Up to 5 GC contracts
Whether you’re scaling in with precision or managing a diversified trade, understanding TopStep’s rules and how gold behaves in the market will prepare you for long-term success. Gold is shiny — but only disciplined traders come out shining in the end.
