Topstep

Overview

Topstep is one of the oldest names in futures prop trading. Its roots go back to Patak Trading Partners in 2010, and Topstep Trader launched in 2012. Today, the program follows a clear path: pass the Trading Combine, move into an Express Funded Account, and with strong performance, advance to a Live Funded Account.

Topstep is built exclusively for futures traders. It allows products on CME, COMEX, NYMEX, and CBOT, and does not offer stocks, options, forex, spot crypto, or CFDs. That narrow focus is part of why many futures traders still keep Topstep on their shortlist.

Account Types & Pricing

Topstep offers three Trading Combine account sizes with two pricing paths:

Standard Path

No Activation Fee Path

How Topstep Works

The first step is the Trading Combine, a simulated evaluation where you aim to hit the profit target while staying within Topstep's risk parameters. Pass the Combine and you earn access to an Express Funded Account, which is still simulated but allows you to earn real payouts.

Strong performance in the Express Funded stage can lead to a Live Funded Account where you trade real capital. Topstep offers two Express Funded payout paths: the Standard path with classic payout structure, and the Consistency path for traders wanting faster payouts with stricter consistency requirements.

Trading Rules

Trading Combine Rules

• Reach the profit target for your account size
• Best single day must be below 50% of total profits
• Stay within the Maximum Loss Limit
• No minimum trading days required

Express Funded Account Rules

• Avoid hitting the Maximum Loss Limit
• Follow the Scaling Plan which adjusts position size based on end-of-day performance
• Micros and minis use a 10:1 ratio for sizing on TopstepX
• Account closes after 30 days of inactivity
• Maximum of 5 active Express Funded Accounts allowed

Profit Split

Topstep offers a 90/10 profit split for traders who joined on or after January 2026. You keep 90% of approved payouts while Topstep retains 10%.

Payout Structure

Express Funded - Standard Path

• Requires 5 winning days of $150+
• Request up to 50% of account balance
• Capped at $5,000 per request
• Cycle resets after each payout

Express Funded - Consistency Path

• Requires 3 trading days
• Largest day must be within 40% consistency target
• Request up to 50% of account balance
• Capped at $6,000 per request

Live Funded Account

• Payouts available after 5 winning days
• After 30 non-consecutive winning days: daily payouts unlocked
• Access up to 100% of account balance
• Minimum payout request: $125

Important: After a payout, the Maximum Loss Limit resets to $0, making payout timing a strategic decision.

Trading Platforms

Topstep supports a broad platform ecosystem including TopstepX, NinjaTrader, Quantower, Tradovate, TradingView, T4, R|Trader Pro, ATAS, MotiveWave, and VolFix.

However, new Trading Combines are only available on TopstepX since July 2025, making Topstep a TopstepX-first firm for new traders. TopstepX is mobile-friendly for monitoring positions on the go.

Pros & Cons

What We Like

• Long operating history since 2012 builds trust
• Clear, structured path from evaluation to live capital
• Choice between Standard and Consistency payout routes
• Strong educational ecosystem with TopstepTV (live M-F, 8AM-3PM CT)
• Active Discord community for trader support
• Real live funded account opportunity

Things to Consider

• Higher total cost on Standard path with activation fee
• Strict consistency rules may not suit aggressive traders
• New accounts limited to TopstepX platform
• Published pass rate of 16.8% shows it's challenging
• Only 0.71% of Express Funded traders advance to Live

Our Verdict

Topstep remains one of the strongest futures-only names in the prop space because it combines longevity, clear rules, real payout infrastructure, and a genuine live-account path. It's not the most relaxed program on the market, and it's no longer as platform-flexible for new accounts as it once was.

For traders who want a serious, structured environment with an established brand and real educational support, Topstep still deserves a place near the top of the conversation. Best suited for disciplined futures traders who appreciate clear rules and a defined progression path.

Rating: 4.5/5 - A trusted industry veteran with a proven track record, ideal for structured traders seeking a legitimate path to live funding.