Topstep Accounts Overview: Combine, Express Funded, Live Funded (2026 Complete Guide)

Topstep runs a three-stage funded-trader program: the Trading Combine (paid monthly sim evaluation), the Express Funded Account or XFA (sim-funded with EOD-trailing drawdown, dual-path since Feb 5 2026), and the Live Funded Account (real money via Topstep's FCM partners, with a 20%-tradable / 80%-reserve unlock mechanism). Each stage has its own pricing, drawdown structure, and progression requirements; together they form the path from a $49 monthly Combine subscription to real-money trading on up to a $150K starting allocation. This pillar covers all three stages with verified specs as of April 2026, the cross-stage comparison matrix, and the recent 2026 changes (Feb 5 XFA dual-path, Jan 12 profit-split flat-90/10, April 1 Futures Desk acquisition) that reshape how the program currently works.

I've traded Topstep for 3+ years on the $50K Combine and pulled around $17,000 in cumulative payouts, so the first-person notes throughout this article are direct experience on the entry tier. Specifics for the $100K Combine, $150K Combine, and Live Funded Account are documented from Topstep's published program pages and help center rather than personal testing.

For the rule-by-rule breakdown across the program, see the Topstep rules overview.

All three Topstep stages at a glance

The progression is strictly sequential: Combine first, XFA second, Live Funded third. There is no instant-funding bypass and no 2-step variant — Topstep is a 1-step evaluation firm. Older PTV content listing "instant funding" or "2-step" options for Topstep is wrong; the structure has always been Combine → XFA → Live since the XFA stage was introduced.

Stage 1: The Trading Combine — sim evaluation

The Trading Combine is the entry point. You pick a size ($50K, $100K, or $150K), pay the monthly fee, and trade a simulated account against a profit target with rule constraints. Pass the Combine and you progress to the Express Funded Account.

Combine sizing matrix

Verified against topstep.com/topstep-prop and the Topstep help center as of April 2026.

Combine drawdown — intraday-trailing MLL

The Combine uses an intraday-trailing Maximum Loss Limit. The MLL tracks live equity high-water marks during the session, not just at close. If your account drops to or below the trailing MLL at any moment intraday, the account breaks immediately. This is the strictest layer of Topstep's drawdown architecture and the reason most attempts fail — it doesn't tolerate intraday volatility through unrealized drawdowns the way EOD-trailing models do.

The Combine also enforces a Daily Loss Limit ($1K / $2K / $3K by size). When intraday losses reach the DLL, the account auto-liquidates and locks for the rest of the trading day — but this is a day-end mechanic, not a Combine-failing rule. You return the next session unchanged.

For the full drawdown breakdown across all three stages, see Topstep drawdown explained.

The 50% consistency rule on the Combine

Topstep enforces a 50% consistency rule on the Combine: your single best winning day must be less than 50% of total cycle profits. Concentrate too much profit on one big day and you'll fail consistency even after hitting the profit target. The rule continues into XFA. For the calculation walk-through and edge cases, see the Topstep consistency rule guide.

2025 Combine pass rate: 16.8%

Topstep publishes 2025 cohort statistics on the program journey page. 16.8% of Combines pass, 51.8% of any-Combine entrants advance to the Funded Level, and 33.3% of Funded Level traders receive at least one payout. These are honest numbers and reflect the structural difficulty of an intraday-trailing drawdown plus a 50% consistency rule.

My personal Combine experience

Across 3+ years on the $50K Combine I've passed multiple times. The pattern that works for me: small contract sizes (1-2 minis on ES or NQ), $200-$500 winning-day pace rather than swinging for $1K+ days (avoids consistency), and respecting the intraday MLL by setting hard stop losses on every entry. The $50K size at $49 per month is the cheapest learning lab in futures props — I've never moved up to the $100K or $150K despite having the option. For more on the entry-level approach, see the Topstep beginners guide.

Stage 2: The Express Funded Account (XFA)

The Express Funded Account is the sim-funded middle stage. Pass the Combine, pay the $149 activation fee, and you're in the XFA. From here, profits start paying out (the Combine pays nothing — the XFA is the first payout stage).

XFA drawdown — EOD-trailing MLL that locks at $0

The XFA uses an EOD-trailing Maximum Loss Limit instead of intraday. The MLL only moves at end-of-day close. Once it trails up to the original starting balance level (i.e., $0 distance from start), it locks permanently at that level as a static floor. From that point on, the account cannot be broken by a single bad day below the starting balance. This is structurally more forgiving than the Combine and is the relief you earn by passing.

The Feb 5 2026 dual-path: Standard vs Consistency

Since Feb 5 2026, XFA traders pick one of two paths at activation. Both lead to the same Live Funded Account; they trade off day-count vs profit-amount in different ways.

Standard Path is for traders building winning days through small consistent profits, 5 days of $1K+ each gets you to Live. Consistency Path compresses the day-count to 3 but raises the cumulative bar to $6K and enforces tighter profit-distribution rules. Both paths share identical pricing and the same EOD-trailing MLL structure.

For the full XFA breakdown including which path fits which trading style, see the Topstep Express Funded Account guide.

XFA pricing carries forward from the Combine

The XFA does not introduce new monthly pricing. The Combine's monthly subscription continues at the same rate ($49 / $99 / $149 by size). The one-time cost is the $149 activation fee paid when you move from Combine to XFA. Cancel the subscription and the XFA closes; pause and resume isn't a feature, Topstep runs as a continuous monthly model.

Profit split on the XFA

90% to trader, 10% to Topstep, flat from $1, for traders who signed up after Jan 12 2026. Pre-Jan 12 2026 sign-ups are grandfathered into the older 100%-on-first-$10K-then-90/10 structure. The 50/50 split sometimes mentioned in older PTV content has never been current Topstep terms. For the full payout-rules breakdown including methods and timeline, see Topstep payout rules.

Winning day = $150 net profit (NOT $200)

A winning day on the XFA (and Live Funded) is any trading day with $150 or more in net profit. This is the threshold that counts toward the path-progression day count. Older PTV content used $200, that figure is incorrect; the current and previously-documented threshold is $150. Realized profit on sub-$150 days still accumulates toward your cumulative-profit target, but the day itself doesn't count for progression.

Stage 3: The Live Funded Account, real money

Reach the end of the XFA path and you progress to the Live Funded Account. This is real money, traded through Topstep's FCM partners, on TopstepX as the standard platform.

Live Funded sizing

Live Funded allocations scale up to a $150K starting balance, sized in proportion to the Combine size you originally entered. The progression is structural, you don't separately purchase a Live account.

The 20%-tradable / 80%-reserve mechanic

When you first reach Live Funded, only 20% of the allocated balance is tradable. The remaining 80% sits in reserve and unlocks in $15,000 increments per $6,000 of cumulative profit you generate on the Live account. This is Topstep's risk-staging model: the firm doesn't put a fresh trader on the full balance immediately; you earn access through realized profit milestones.

Full balance unlock: 30 winning $150+ days

After 30 cumulative winning days (each with $150+ net profit) on the Live Funded Account, the full 100% of the allocated balance becomes tradable. This is the long-form access milestone, at, say, an 80% winning-day rate on active trading, that's roughly two trading months of disciplined activity to earn full balance access. For the deep dive on the Live stage, see the Topstep Live Funded Account guide.

0.71% advance rate, Live is the deep end

Topstep's published 2025 metric: 0.71% of XFA traders reach the Live Funded Account stage. The XFA-to-Live attrition is the steepest gate in the program. The combination of the EOD-trailing MLL (still strict at $0 lock), the 50% consistency rule, the path-progression requirements, and the practical reality that most traders cycle through XFA over months without consistently hitting both the day-count and cumulative-profit milestones produces the 0.71% figure. This is third-person framing, I haven't reached the Live Funded stage personally; the documentation here traces directly to Topstep's program-page statistics.

Cross-stage master comparison

For the contract-cap detail by size, see Topstep maximum contracts. For the size-by-size head-to-head, see Topstep account sizes.

Profit split, current 90/10 vs grandfathered 100% first $10K

The profit split is the rule most often misreported across older PTV Topstep content. The current and grandfathered structures are:

There is no 50/50 tier, never was at the post-XFA-introduction structure. The 100%-first-$10K terms are not available for new sign-ups; they only persist for accounts that signed up before the Jan 12 2026 cutoff and have continuously remained active since. For the full pricing breakdown across the program lifecycle, see the Topstep pricing breakdown.

Payouts, when they start, how much, how fast

Payouts begin on the XFA stage. The Combine pays nothing because it's a simulated evaluation.

• Maximum per request: $6,000
• First payout cap on $50K Combine Standard: $5,000 (special first-time cap)
• Timeline: "as soon as next trading day" per Topstep's published terms
• Methods: Wise (fastest), Wire / SWIFT, ACH, Aeropay
• Winning day threshold for path-progression: $150 net profit

PayPal as a payout method is sometimes mentioned in older PTV content, it's not a verified current Topstep payout method as of April 2026; treat it as outdated. For the full payouts walkthrough including request mechanics, see Topstep payout rules.

Topstep Brokerage, adjacent product, not part of the program

Worth distinguishing because the names overlap: Topstep also runs Topstep Brokerage, a separate retail futures product. It's a different company structure (FCM partner is Plus500US), uses TopstepX as the platform, and exists for traders who want to trade their own personal capital with Topstep's tools, not the funded-trader program. Commissions are $0.50/side on standard contracts; account approval takes ~1 business day; debit-card funding is instant.

If you're reading this article looking for the funded-trader program, Topstep Brokerage is not what you want, stay with the Combine → XFA → Live Funded path documented here. If you want to trade your own money on TopstepX with low retail commissions, Topstep Brokerage is the adjacent product.

The April 1 2026 Futures Desk acquisition

Topstep announced the acquisition of The Futures Desk on April 1 2026, with founders Michael Patak (Topstep CEO) and Josh Schwartzberg (TFD founder) framing it as "Welcome to the next era." The Futures Desk's technology is being integrated into TopstepX over coming months. From an account-spec standpoint nothing changes, the Combine sizes, XFA paths, and Live Funded mechanics are unchanged. From a daily-trading standpoint TopstepX gains TFD-derived analytics and tooling.

I miss ProjectX, Topstep retired it in 2026 and the new TFD-acquired tech promises to fill the gap. ProjectX was the platform I spent the most time on during the early Combine years; TopstepX has been my preferred Topstep platform since the rollout, and the TFD integration is a real reason to expect the platform to keep maturing rather than stagnating. For the full news angle, see Topstep acquires The Futures Desk 2026.

Platforms, TopstepX, NinjaTrader, Tradovate (no ProjectX)

Topstep currently supports three platforms across all three account stages: TopstepX (proprietary, with built-in TradingView charts, "The Tilt", DOM, hotkeys, 60+ futures), NinjaTrader (legacy supported), and Tradovate. ProjectX shut down in 2026, older PTV content listing it as supported is wrong. For the platforms pillar, see Topstep trading platforms. For the TopstepX deep-dive including the TFD integration roadmap, see TopstepX platform guide.

Discount codes and promotions

Topstep does not have a PTV affiliate program, so there is no PTV-specific promo code. Topstep does run its own occasional public promotions on Combine pricing, those apply equally to all sign-ups during a promo window and are firm-direct, not affiliate. The honest framing: Topstep is the industry incumbent with 12+ years of operating history and roughly $250M+ paid out lifetime, so the value comes from the program's track record rather than a discount layer. For the discount-code page (kept honest about what's available), see Topstep discount codes.

Refunds and reset credits

Topstep operates a Reset Credit Bank model: each subscription renewal adds 1 Reset Credit to your bank, and resetting a failed Combine consumes a credit from the bank rather than incurring a separate per-reset fee. Auto-reset on subscription renewal was retired at some point, credits accumulate but are applied manually. For the full refund-and-reset mechanics, see Topstep refund policy.

How Topstep accounts compare to peer firms

For the head-to-head against the futures-prop landscape, see the comparison cluster:

• Apex Trader Funding vs Topstep, the two earliest futures-prop firms
• Tradeify vs Topstep, newer firm with sharper rules vs incumbent
• MyFundedFutures vs Topstep, MFF angle
• TakeProfitTrader vs Topstep, TPT angle
• Topstep vs YRM Prop, newer trader-friendly platform contrast
• Topstep vs Lucid Trading, Lucid's 4.87 Trustpilot vs Topstep's 3.4
• Lucid Trading vs Apex vs Topstep, three-way classic

For the broader prop-firm landscape: Lucid Trading, Alpha Futures, YRM Prop, FundedNext, Tradeify, TopOne Futures, FundingPips.

Trust signals on the program

For the trust pillar (12+ year operating history, FCM-backed Live trading, Plus500US partnership, Trustpilot rating context), see Is Topstep legit. For the Trustpilot 3.4-rating analysis with context for the volume of reviews (13,827 across 12+ years), see Topstep Trustpilot reviews. For the CEO profile including the TFD acquisition video, see Topstep CEO Michael Patak. For the honest churn analysis, see Why traders leave Topstep.

Cross-references to account-specific deep-dives

• Topstep Trading Combine rules, full Combine deep-dive (A2)
• Topstep Express Funded Account, XFA dual-path detail (A3)
• Topstep Live Funded Account, real-money tier (A4)
• Topstep account sizes, $50K/$100K/$150K head-to-head (A5)
• Topstep pricing breakdown, full cost stack (A6)
• Topstep discount codes, honest promo landscape (A7)
• Topstep refund policy, Reset Credit Bank (A8)

The bottom line

Topstep's three-stage account structure, Trading Combine, Express Funded Account, Live Funded Account, is the industry's longest-running 1-step funded-trader program. Each stage trades a specific tradeoff: the Combine is the strict intraday-MLL evaluation that filters for traders who can size positions against unrealized drawdowns; the XFA is the sim-funded payout stage that introduces the EOD-trailing MLL relief plus the dual-path choice (Standard vs Consistency, since Feb 5 2026); the Live Funded Account is the real-money tier with a 20/80 reserve mechanic that staggers risk exposure as you build the track record. Profit split is 90/10 from $1 for current sign-ups (100% first $10K only grandfathered pre-Jan 12 2026), winning-day threshold is $150 net profit, and 2025 cohort metrics show 16.8% Combine pass / 51.8% any-Combine to Funded / 33.3% paid / 0.71% to Live Funded. Three years and roughly $17,000 in payouts on the $50K Combine has been my path; the program rewards small consistent days, respects the intraday MLL on the Combine, and pays out reliably on the XFA and beyond. The April 1 2026 Futures Desk acquisition is the latest signal that TopstepX (the platform you'll spend the most time on across all three stages) is being actively invested in rather than left to age, which matters more for daily trading experience than any individual account-spec change.

Frequently Asked Questions

What are Topstep's three account stages?

Topstep runs a 1-step funded-trader program with three sequential stages. (1) Trading Combine, paid monthly evaluation on a simulated account with $50K, $100K, or $150K starting balance. (2) Express Funded Account (XFA), sim-funded stage you reach by passing the Combine, with EOD-trailing drawdown and a dual-path since Feb 5 2026. (3) Live Funded Account, real-money trading via Topstep's FCM partners, allocated up to $150K starting balance, with 20% tradable and 80% reserve at the start. Profits are paid out from XFA onward.

How much does the Topstep Trading Combine cost?

Combine pricing as of April 2026: $50K Combine is $49 per month, $100K is $99 per month, and $150K is $149 per month. On top of the monthly fee, Topstep charges a one-time $149 activation fee per account when you pass the Combine and move into the Express Funded Account. There is no separate evaluation purchase; the monthly subscription continues until you pass, fail, or cancel.

What is the Topstep Express Funded Account (XFA)?

The Express Funded Account is Topstep's sim-funded stage between the Trading Combine and the Live Funded Account. It uses an end-of-day-trailing Maximum Loss Limit that locks at the original starting balance once it trails up to $0 (no more drawdown room going down from the start). Since Feb 5 2026, traders pick one of two paths at activation: Standard Path (5 minimum winning days + $5K cumulative profit) or Consistency Path (3 minimum winning days + $6K cumulative profit). Both lead to the Live Funded Account.

What is the difference between the XFA Standard Path and Consistency Path?

Both XFA paths lead to the same Live Funded Account, but they trade different parameters. Standard Path: 5 minimum winning days (any day with $150+ net profit counts) plus $5K cumulative profit. Consistency Path: 3 minimum winning days plus $6K cumulative profit, fewer days but more money required, and Topstep enforces tighter profit-distribution rules. Both have the same trailing EOD MLL that locks at the starting balance and the same XFA pricing. Pick Standard if your edge is small consistent days; pick Consistency if you have higher per-day variance.

How does the Topstep Live Funded Account work?

The Live Funded Account is real-money trading via Topstep's FCM partners. When you reach it, 20% of the allocated balance is tradable and 80% is held in reserve. Every $6,000 of cumulative profit unlocks an additional $15,000 of reserve into your tradable balance. After 30 winning days of $150+ net profit on the Live account, the full 100% of the allocated balance becomes tradable. Topstep reports 0.71% of XFA traders reach Live Funded, so this is the deep end of the program.

What is Topstep's profit split?

For traders who signed up after Jan 12 2026, Topstep pays 90% of profits to the trader and keeps 10%, flat from $1. Traders who signed up before Jan 12 2026 are grandfathered into the prior structure: 100% of the first $10K cumulative profits to the trader, 90/10 thereafter. Some older PTV content claimed "50/50 first $5K then 90/10", that has never been correct for current Topstep terms. The split applies on the XFA and Live Funded stages; the Combine is sim-only and pays no profits.

What is a winning day on Topstep?

A winning day at Topstep is any trading day with $150 or more in net profit (after commissions). Older PTV content used $200, that figure is wrong for the current rule set. Winning days count toward the XFA progression requirements (5 on Standard Path, 3 on Consistency Path) and the Live Funded full-access milestone (30 winning days). Days with profit below $150 don't count toward these progression metrics, even though the realized profit still accumulates toward your cumulative-profit targets.

What is Topstep's drawdown structure across the three stages?

Drawdown changes between stages. Trading Combine uses an intraday-trailing Maximum Loss Limit that tracks live equity highs and can break the account at any moment during the session. Express Funded Account uses an EOD-trailing MLL that only moves at session close and locks permanently at the original starting balance once it trails up there. Live Funded Account adds the 20%-tradable / 80%-reserve mechanism on top, with reserve unlocking per $6K profit milestone. The intraday Combine drawdown is the strictest layer; the EOD XFA drawdown is the structural relief.

What were Topstep's 2025 cohort results?

Topstep publishes program statistics on topstep.com/topstep-prop and the program journey page. For 2025: 16.8% of Trading Combine attempts pass. Of all Combine entrants, 51.8% advance from any-Combine attempt to the Funded Level. Of those at the Funded Level, 33.3% received at least one payout. 0.71% of XFA traders reach the Live Funded Account stage. These are challenging numbers and reflect Topstep's 12+ year operating history without inflated marketing-funnel claims.

Can I buy multiple Topstep Combine accounts?

Yes. Traders frequently run multiple Combine accounts in parallel to increase the chance of passing one or to test different position-size strategies in parallel. Each Combine carries its own monthly fee. Once you pass and reach Live Funded, the standard program supports up to a $150K starting balance allocation per trader; running multiple Live accounts at once is constrained by the firm's risk controls and is not the typical use case.

How is Topstep Brokerage different from the prop program?

Topstep Brokerage is a separate retail product, not part of the funded-trader program. It runs through Plus500US as the FCM, uses TopstepX as the platform, and is for traders who want to trade their own personal capital with Topstep's tools, $0.50 per side standard contract commissions, ~1 business day account approval, instant debit-card funding. There is no evaluation, no profit split, no payouts: it's straight retail futures trading. The prop side (Combine → XFA → Live Funded) is what this article covers.

Does Topstep have a PTV affiliate code or discount?

No. As of April 2026, Topstep does not have a PTV affiliate program, so there is no PTV-specific promo code or discount available through this site. Topstep occasionally runs its own public promotions on Combine pricing, those are firm-direct and apply equally to all sign-ups during a promo window. The honest framing here: Topstep is the industry incumbent with a 12+ year track record and roughly $250M+ paid out lifetime; the value comes from the program itself, not from a discount layer.

What does the April 1 2026 Futures Desk acquisition mean for Topstep accounts?

Topstep announced the acquisition of The Futures Desk on April 1 2026, with TFD's tech being integrated into TopstepX. The acquisition does not change account specs (Combine sizes, XFA paths, Live Funded mechanics), those remain as documented above. What changes is the platform side: TopstepX is gaining TFD-derived analytics and tooling, and the prior ProjectX platform was retired in 2026. From an account-progression standpoint nothing changes; from a daily-trading-experience standpoint TopstepX is the platform you'll spend time on across all three stages.

Which Topstep account size should I start with?

For most traders the $50K Combine is the right entry point: $49 monthly, lowest dollar risk on the activation fee if you pass, and the smallest contract caps so position sizing stays disciplined. The $100K and $150K Combines scale up the contract caps and profit targets but also increase monthly cost and Combine difficulty. Across 3+ years on Topstep I've stayed on the $50K Combine and pulled around $17,000 in cumulative payouts, for the program's mechanics, $50K is the proven entry point.