Topstep 
US Firm Overview
Topstep is the original prop trading firm, having pioneered the evaluation-based funding model when it was founded in 2012. With over 13 years of continuous operation, 3,200+ verified reviews, and a 4.6-star rating, Topstep has weathered every market cycle, competitive wave, and regulatory shift while maintaining its position as one of the most trusted names in the industry. The firm funds nearly 20,000 traders monthly and has paid out over $23 million since 2020.
In 2025, Topstep modernized significantly with the launch of TopstepX — their proprietary trading platform that offers commission-free trading and a streamlined path from evaluation to live funded accounts. The firm now offers two distinct funding paths (Standard and No-Activation-Fee), giving traders flexibility in how they manage upfront and ongoing costs.
Like Apex, Topstep offers an attractive profit split: 100% of the first $10,000 in profits across all funded accounts, with a 90/10 split thereafter. The firm supports TopstepX, NinjaTrader, and TradingView platforms.
Instruments and Assets
Topstep offers one of the broadest futures lineups available: equity indices (ES, NQ, YM, RTY), energy (CL, NG), metals (GC, SI, HG), agriculture (ZC, ZS, ZW), interest rates (ZB, ZN, ZF), and currencies (6E, 6B, 6J). Micro contracts are available for most products.
Leverage
Standard 1:10 futures leverage with position limits based on account size. Dynamic Live Risk Expansion — introduced in 2025 — automatically adjusts contract limits and daily loss limits based on performance tiers as traders progress.
Commissions
- TopstepX: Commission-free trading0
- NinjaTrader/TradingView: ~$3.70 round-turn per lot (including exchange fees)
- Level 1 data included; Level 2 available for $34.25/month
- Topstep covers one CME exchange data fee for Live Funded traders
- Payout processing: $20 fee for ACH/Wire; ~$0.39 via Wise
Consistency Rules
Topstep enforces a 50% consistency target — your best profitable trading day’s profit cannot exceed 50% of the total profit target. This prevents “one-hit wonder” passes and ensures traders demonstrate repeatable skill across multiple sessions. Note: automated strategies/EAs are generally not permitted on TopstepX due to this rule.
Firm Rules
- One-step Trading Combine — single evaluation phase
- Minimum 2 trading days to complete the Combine
- Trailing Maximum Loss Limit — moves up with profits, never retracts
- Daily Loss Limit removed for new TopstepX Combines (still applies to Live Funded accounts)
- News trading and copy trading are allowed
- All positions must be closed by session end
- 5 active Express Funded Accounts permitted simultaneously; only 1 Live Funded Account
- Weekly activity required (minimum 1 trade per week, lasting 1+ minutes)
Challenges
Standard Path (Lower monthly cost + activation fee after passing):
| Challenge | Account Size | Monthly Fee | Profit Target | Max Loss Limit | Activation Fee |
|---|---|---|---|---|---|
| $50K Combine | $50,000 | $49 | $3,000 | $2,000 | $149 |
| $100K Combine | $100,000 | $99 | $6,000 | $3,000 | $149 |
| $150K Combine | $150,000 | $149 | $9,000 | $4,500 | $149 |
No Activation Fee Path (Higher monthly cost, $0 activation fee):
| Challenge | Account Size | Monthly Fee | Profit Target | Max Loss Limit |
|---|---|---|---|---|
| $50K Combine | $50,000 | $109 | $3,000 | $2,000 |
| $100K Combine | $100,000 | $159 | $6,000 | $3,000 |
| $150K Combine | $150,000 | $209 | $9,000 | $4,500 |
No time limit on evaluations. Reset fees match the monthly subscription cost.
Payout Policy
- Profit split: 100% of first $10,000, then 90/10 split
- Express Funded payout: After 5 winning days (min $150 net PnL each), withdraw up to 50% of balance (max $5,000)
- Live Funded payout: After 30 winning days, daily payouts unlocked — access up to 100% of balance
- Minimum payout request: $125
- Processing: 1-3 business days via ACH, Wise, or Wire/SWIFT
- Winning days accumulated in Express Funded do not carry over to Live Funded (as of July 2025)
- Full 100% withdrawal will close the funded account
Performance Statistics (2025)
Topstep is uniquely transparent about their pass rates: 16.8% of Trading Combines are completed successfully, 51.8% of participants advance to funded level, and 33.3% of funded traders receive at least one payout. These published statistics demonstrate the firm’s commitment to transparency.