Topstep FAQ 2026: 60+ Questions Answered (Verified)

Topstep is a Chicago-based proprietary futures trading firm that has been operating since around 2014, making it the longest-running futures prop firm in the modern industry. The funding ladder runs through three stages: a 1-step Trading Combine on a monthly subscription ($49 / $99 / $149 on $50K / $100K / $150K), advancing through a one-time $149 activation fee to the sim-funded Express Funded Account (XFA), and then to the real-money Live Funded Account backed by Plus500US as FCM partner. The current profit split is 90/10 from $1; pre-January-12-2026 accounts are grandfathered onto the older 100%-on-first-$10K structure. On April 1, 2026, Topstep acquired The Futures Desk, with founder Josh Schwartzberg and CEO Michael Patak announcing TFD tech integration into TopstepX under the marketing tagline "Welcome to the next era." This guide answers more than 60 of the most common questions about Topstep, organized by topic, with each answer linking to the dedicated cluster article that covers it in depth.

Pricing and costs

What is Topstep?

Topstep is a Chicago-based proprietary futures trading firm founded around 2014 by Michael Patak. The funding model runs as a 1-step Trading Combine (monthly subscription), advancing through a one-time activation fee to a sim-funded Express Funded Account (XFA), and ultimately to a real-money Live Funded Account backed by an FCM partnership with Plus500US. Topstep also operates a separate retail brokerage product, Topstep Brokerage,for traders trading their own capital. Profit split on current sign-ups is 90/10 from $1. The firm publishes detailed rules through a public Help Center and is the longest-running futures prop firm in the U.S. industry, alongside Apex.

How much does Topstep cost?

The Trading Combine runs as a monthly subscription: $49 on $50K, $99 on $100K, $149 on $150K. A one-time $149 activation fee applies on advance to the Express Funded Account. The XFA and Live Funded stages have no separate monthly subscription. Resets are not free,each Combine subscription renewal adds one Reset Credit to your Reset Bank, used at the in-app reset cost when needed. Combined first-pass cost on a $50K Combine is therefore $49 (subscription) plus $149 (activation), $198 total to advance, assuming the Combine passes within the first month.

Is Topstep a one-time fee or monthly subscription?

Topstep is a monthly subscription on the Trading Combine ,$49, $99, or $149 per month ,plus a one-time $149 activation fee on advance to the XFA. This differs from one-time-fee firms like YRM Prop, Lucid Trading, or Tradeify, where the entry price is paid once. The subscription continues until you cancel, advance, or breach. After advancing to the XFA, the monthly subscription stops; the XFA runs on rules and qualifying days only without recurring fees.

What is the Topstep activation fee?

$149 one-time activation fee, paid after passing the Combine to advance to the Express Funded Account. The fee applies once per advancing account regardless of size, same $149 on $50K, $100K, or $150K. Activation is separate from the monthly Combine subscription and is non-refundable once the XFA is active. The activation fee is the gating cost between sim evaluation (Combine) and sim funded (XFA), and is the same flat fee that has applied across Topstep's recent product history.

Does Topstep offer resets?

Yes, via the Reset Credit Bank. Topstep no longer auto-resets Combines on subscription renewal ,that policy changed at some point in recent product history. Instead, each subscription renewal adds one Reset Credit to your Reset Bank, which can be applied to reset a breached Combine at the in-app reset cost. Reset Credits match the account size and path. This differs from Apex's per-reset fee model and from YRM Prop's no-reset-at-all model.

What is the Topstep discount code?

Topstep does not have a PTV affiliate program, so there is no PTV-specific discount code or affiliate link. Topstep does run periodic public promotions on its homepage and X channel ,those promo codes apply to anyone, no affiliate route required. The cleanest current path is direct signup at topstep.com and watching the public promo cadence.

Are there hidden fees on Topstep?

No additional hidden fees beyond the published monthly subscription, activation fee, in-app reset cost (if used), and the third-party rails on payout (Wise, ACH, Wire/SWIFT, Aeropay charge their own standard fees). CME exchange fees and platform data fees are absorbed by Topstep on the Combine and XFA stages. The only cost stack a trader needs to model is monthly subscription plus activation plus optional reset costs plus payout-rail fees, all of which are published openly.

How does Topstep pricing compare to competitors?

Topstep's $49 monthly entry on $50K is competitive within the futures prop space, but the monthly subscription model accumulates if the Combine drags out, three months on the $50K runs to $147 in subscription before activation, which approaches the entry cost of one-time-fee competitors. The trade-off is Topstep's 12-year track record, FCM-backed Live tier, and brand-recognition value. For traders who pass quickly, the monthly model is cheaper; for traders who take 4+ months, one-time-fee competitors get cheaper.

Account types and sizes

What account sizes does Topstep offer?

Three account sizes: $50K, $100K, $150K. Same three sizes across the Trading Combine and Express Funded Account. The Live Funded Account allocates real capital up to $150K starting balance. Each size has its own profit target, max loss limit, daily loss limit, and contract cap. The $50K is the most popular entry point and is what I have traded for 3+ years.

What is the Trading Combine?

The Trading Combine is Topstep's 1-step evaluation. Pay a monthly subscription, hit the profit target ($3,000 / $6,000 / $9,000 on $50K/$100K/$150K), respect the trailing intraday max loss limit and daily loss limit, and you advance. There is no second phase like at firms with 2-step evaluations. Once passed, you pay the $149 activation fee and start trading the XFA. The Combine has no minimum trading days requirement beyond what the path implies.

What is the Express Funded Account?

The Express Funded Account is Topstep's sim-funded stage between Combine and Live Funded. After passing the Combine and paying the $149 activation, traders enter the XFA with sim capital and build qualifying days toward payouts. Since February 5, 2026, the XFA runs as a dual-path: a Standard Path (5 winning days minimum + $5K cumulative profit) and a Consistency Path (3 winning days minimum + $6K cumulative profit). Both use trailing EOD max loss limit that locks at $0 (starting balance) once it reaches that floor.

What is the Live Funded Account?

The Live Funded Account is Topstep's real-money tier. After demonstrating consistency on the XFA, top performers ,about 0.71% of XFA traders in the 2025 cohort ,move to a real FCM-backed account with up to $150K starting allocation through Plus500US. Initially 20% of the balance is tradable and 80% is held in reserve; reserve unlocks per $6,000 profit milestone (releases an additional $15K each milestone). Thirty winning days at $150+ unlocks 100% balance access.

Is Topstep a 1-step or 2-step evaluation?

Topstep is a 1-step evaluation, the Trading Combine is the only evaluation stage. Once passed, you advance to the sim-funded XFA, then to the real-money Live Funded Account. Some legacy third-party content describes Topstep as 'instant funding' or '2-step', this is incorrect,Topstep has always been 1-step Combine to XFA to Live, with no instant-funding tier.

What is the difference between the Combine and the XFA?

The Trading Combine is the evaluation stage,paid monthly, no payouts available, governed by trailing intraday max loss limit and a profit target. The XFA is the sim-funded stage that follows, no monthly fee, payouts available after meeting path requirements, governed by trailing EOD max loss limit. Both are simulated environments. The Live Funded Account that follows the XFA is the real-money tier. The activation fee gates the transition from Combine to XFA; payout requests gate the transition between cycles within the XFA.

How do I advance from XFA to Live Funded?

The XFA-to-Live transition is gated by Topstep's selection criteria ,only about 0.71% of XFA traders advance to Live Funded in any given cohort. The exact mechanics blend payout cadence, qualifying-day count, drawdown discipline, and Topstep's discretionary risk management review. The transition is forced once selected ,the trader cannot decline and remain on XFA. Live Funded starts with 20% balance tradable, 80% reserved, and unlocks per $6,000 profit milestone.

Can I have multiple Topstep accounts?

Yes. Multiple Combine accounts can run simultaneously, and many traders pass several Combines in parallel to scale into multiple XFA accounts and ultimately a larger Live Funded allocation. Each account counts independently for subscription fees, activation fees, and rule enforcement. Cross-account hedging is prohibited, but running independent strategies on separate accounts is allowed. The Live Funded allocation can consolidate across multiple XFA accounts at the firm's discretion.

Drawdown and risk rules

What is the Topstep maximum loss limit?

Combine max loss limits are $2,000 / $3,000 / $4,500 on $50K / $100K / $150K respectively. The Combine MLL is trailing intraday, it tracks the live equity high-water-mark and breaks at any moment if equity touches it, even mid-trade. The XFA MLL is trailing EOD,it moves only at end of day, and locks at $0 (starting balance) once it reaches that floor. Live Funded uses its own progression-based risk framework. Full mechanics in Topstep drawdown explained.

What is the daily loss limit at Topstep?

$1,000 / $2,000 / $3,000 on $50K / $100K / $150K Combine accounts. The DLL resets at 5 PM CT (CME daily roll). Hitting the DLL auto-liquidates the day's open positions and locks the account for the rest of the trading day, but it is not a rule violation ,the account stays open and can resume on the next session. The DLL is one of Topstep's strongest risk-discipline features and one of the reasons the firm's rule set is considered tight even relative to peers.

How does the Combine drawdown trail?

The Combine MLL is trailing intraday, it tracks live equity in real time. Every new equity high pulls the MLL upward by the same amount. Once equity stops making new highs, the MLL stays at the highest level it has reached. Equity touching that level,even momentarily during a drawdown,breaks the account. This is stricter than EOD-trailing systems where the MLL only updates at session close.

How does the XFA drawdown trail?

The XFA MLL is trailing EOD, it updates only at end of day, then locks permanently at $0 (starting balance) once it reaches that floor. So an account ending Day 1 up $500 has its MLL pulled $500 closer to starting balance; an account ending Day 2 down by $200 from Day 1 close keeps the prior MLL level (no upward retracement). Once cumulative profit pulls the MLL all the way to starting balance, it locks there for the life of the account. This is meaningfully more forgiving than the Combine's intraday trailing.

What is the Topstep consistency rule?

50% best-day rule: a single biggest winning day must be less than 50% of the cycle's total profit. So a $4,000 cycle profit allows a maximum single-day of just under $2,000. The rule applies during the Trading Combine and continues during the XFA. Cycle resets after each payout. The rule is designed to prevent one-shot lottery passes ,a trader who hits a $3,000 day on the $50K Combine would need to add cumulative profit to bring that day below 50% of the total before the pass triggers.

What is the Topstep maximum contract size?

Five minis (50 micros) on $50K, ten minis (100 micros) on $100K, fifteen minis (150 micros) on $150K. Contract caps are hard ,exceeding by even one tick triggers an instant rule violation. You can mix instruments as long as the aggregate stays at or below the cap (e.g., 3 ES + 2 NQ on $50K is fine; 6 ES is not).

Does hitting the daily loss limit break the account?

No. Hitting the DLL auto-liquidates the day's open positions and locks the account for the remainder of the trading day, but it is not a rule violation. The account stays open and resumes on the next trading day with the trailing MLL still intact (the day's losses count toward the trailing floor, but the lockout itself is non-violating). The MLL, by contrast, is a hard rule violation, touching it ends the account.

Consistency and qualifying days

What is a winning day at Topstep?

A winning day requires net profit of $150 or more for the trading day. Some legacy content claims $200 ,that is wrong. The current threshold is $150 net, verified on the Topstep Help Center as of April 2026. Winning days build toward XFA progression (5 days Standard Path / 3 days Consistency Path) and Live Funded balance unlocks (30 days at $150+ for 100% balance access).

What is a qualifying day at Topstep?

A qualifying day on the XFA is a trading day where net profit closes at $150 or more, with at least one executed trade during the session. Days do not need to be consecutive. On the XFA Standard Path, you need 5 winning days plus $5K cumulative profit; on the Consistency Path, 3 winning days plus $6K. On Live Funded, accumulating 30 winning days at $150+ unlocks 100% balance access. Sub-$150 profit days do not count, regardless of session activity.

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

Both paths launched February 5, 2026 as dual-path options on the XFA. Standard Path: 5 winning days minimum + $5K cumulative profit minimum to qualify for the first payout. Consistency Path: 3 winning days minimum + $6K cumulative profit minimum ,fewer days but a tighter profit threshold. Both paths use the same XFA pricing and the same trailing EOD MLL. Path choice depends on whether speed (Consistency) or flexibility (Standard) matters more for the trading style.

How does the consistency rule work in practice?

The consistency rule says your biggest winning day must be less than 50% of total cycle profit. If you have a $1,500 single-day win, you need at least $3,001 in cycle profit before that day passes the 50% test. So one outlier $3,000 day on a $50K Combine cannot finish the evaluation alone, the cycle needs additional profit to push the outlier below 50% of the total. Cycle resets after each payout on the XFA, so the rule re-applies fresh each cycle.

Do qualifying days need to be consecutive?

No. Qualifying days do not need to be consecutive. A trader can accumulate 5 winning days across a month with non-trading days, losing days, and breakeven days interspersed ,only the winning days count toward the 5-day Standard Path or 3-day Consistency Path threshold. Days where you trade but close at a loss or below $150 net do not count, but they also do not penalize the count.

Is there a minimum trading days requirement on the Combine?

The Combine has no fixed minimum trading days requirement ,passing depends on hitting the profit target while respecting the MLL, DLL, contract cap, and consistency rule. In practice, the consistency rule (50% best-day) implies at least 2 winning days for almost any plausible pass, a single-day pass would require a profit-target-sized win that automatically fails the 50% test. So the practical minimum is 2 trading days, even though Topstep does not publish a hard minimum.

Can I trade every day to count qualifying days?

You can trade every market session, but only days closing at $150+ net profit count as qualifying. Trading every day without consistently clearing the $150 threshold does not accelerate XFA progression. The realistic strategy on the XFA is to size positions and select setups that clear $150 with reasonable consistency, rather than scalping for any positive number.

What happens to the qualifying-day count after a payout?

The qualifying-day count resets to zero after each payout request. The cycle starts fresh ,same path requirements (5 days/$5K Standard or 3 days/$6K Consistency), same consistency rule denominator. Path choice can be adjusted between cycles per Topstep's policy. The trailing EOD MLL position is preserved across cycles, so the floor that locked at $0 (starting balance) remains the binding floor for all future cycles on that XFA.

Payouts and withdrawals

How do payouts work at Topstep?

On the XFA, after meeting the path requirements (5 days + $5K Standard, or 3 days + $6K Consistency), traders can request a payout. On Live Funded, payouts run on the reserve-unlock schedule. Maximum payout per request is $6,000. First-payout cap on $50K Combine accounts is $5,000. After approval, payouts arrive 'as soon as the next trading day.' Payment methods: Wise (fastest), Wire/SWIFT, ACH, Aeropay.

What is the Topstep maximum payout?

$6,000 per individual withdrawal request as of April 2026. Larger balances are paid via multiple sequential $6,000 requests rather than one large transfer. The cap is per request, not per month or per cycle, so an XFA cycle producing $18,000 in qualifying profit can be paid in three separate $6,000 requests. The cap is documented in the Topstep Help Center and applies uniformly across XFA payouts.

What is the first-payout cap on the $50K Combine?

$5,000 first-payout cap on $50K Combine Standard Path accounts. The cap applies to the first withdrawal only ,subsequent payouts revert to the standard $6,000 per-request cap. The first-payout cap is designed to encourage building cycle size before a big withdrawal request. The Consistency Path on $50K has its own progression mechanics.

What is the Topstep profit split?

Current sign-ups: 90% trader / 10% Topstep, flat from $1. Pre-January-12-2026 accounts are grandfathered onto the older structure: 100% on the first $10,000 cumulative payouts, then 90/10 thereafter. Some legacy PTV content claimed '50/50 first $5K then 90/10' ,that is wrong and reflects a much older Topstep structure that no longer applies. Confirmed via Topstep Help Center as of April 2026. The 90/10 split is competitive against newer firms and meaningfully better than the 80/20 splits common in older subscription-style prop products.

How fast are Topstep payouts?

After approval, payouts arrive 'as soon as the next trading day' per the Help Center, with Wise typically the fastest rail. Onward delivery to your bank or USDC wallet depends on the chosen rail: Wise is usually one to three business days, ACH is two to four, Wire/SWIFT is two to five, Aeropay is variable. End-to-end from request to bank account typically lands in two to five business days for the first withdrawal once KYC is complete.

What payout methods does Topstep support?

Wise (fastest), Wire/SWIFT, ACH, and Aeropay as of April 2026. PayPal is sometimes mentioned in older third-party content but is not currently listed in the Topstep Help Center ,drop that assumption. Wise is the recommended path for international traders given speed and lower FX costs. Domestic U.S. traders typically pick ACH for lower fees or Wire for same-day delivery on larger amounts.

How many payouts per month can I take?

There is no fixed monthly cap, payout cadence is gated by qualifying-day accumulation and the path-specific minimums, not by a calendar. On the XFA Standard Path, the minimum cycle is 5 winning days plus $5K cumulative profit, which can theoretically complete in a single trading week. Each cycle resets after a payout request. The $6,000 per-request cap shapes large-cycle payouts into multiple sequential requests; an active trader might submit several requests per month across multiple XFA accounts.

Is KYC required for Topstep payouts?

Yes. KYC is required before the first payout. The KYC process verifies identity through a government-issued ID (passport, driver's license, or national ID), address verification, and sometimes a selfie or video check. After approval, no further KYC is needed for subsequent payouts on the same account. KYC must be performed without a VPN active ,VPN connections cause timezone and location mismatches that block KYC verification.

Can I withdraw to crypto from Topstep?

Direct crypto withdrawal is not currently a primary listed method on Topstep. The four documented methods are Wise, Wire/SWIFT, ACH, and Aeropay. Some traders route Wise USD payouts through their own broker or stablecoin off-ramp to convert to crypto, but Topstep does not offer a native USDC or stablecoin rail as of April 2026. Confirm the live methods in the Topstep Help Center before assuming a crypto path.

What happens if my payout is denied?

Payout denials at Topstep typically trace to a rule violation ,exceeding the contract cap, failing the consistency rule (single biggest day above 50% of cycle profit), copy-trading violations (e.g., copy connection still active during XFA payout processing, the system disables it automatically but related issues can flag), or failing KYC. The Help Center publishes the specific denial reasons in the trader dashboard. The remedy is fixing the underlying violation and requesting again on the next eligible cycle. Topstep does not have a published track record of arbitrary denials.

Can I cancel a payout request?

Topstep's payout cancellation policy depends on processing stage ,once a request is submitted and routed to the payment rail (Wise, Wire, ACH, Aeropay), reversal becomes complicated. Before processing starts, traders can typically modify or withdraw requests through their Topstep dashboard. The cleanest path is to submit payout requests only when fully ready (KYC complete, copy-trading disabled, no pending reviews). The Help Center does not publish a hard cancellation deadline, so the practical guideline is "submit once, get it right."

How does the first-payout cap interact with cycle size?

The $5,000 first-payout cap on $50K Combine Standard Path means a trader who builds a $7,000 cycle profit on the first XFA cycle can only withdraw $5,000 on the first request ,the remaining $2,000 either rolls into the next cycle (cycle does not reset until the request is submitted) or remains as buffer. The strategic move is to size the first cycle to land near the $5,000 cap rather than far above it, so cycle-2 starts with a clean reset and a fresh $6,000 cap.

Platforms and tools

What platforms does Topstep support?

TopstepX is the only official Topstep platform; as of April 2026: TopstepX (the only official Topstep platform); Quantower can connect via TopstepX credentials. ProjectX was retired in 2026. Some older third-party content lists Sierra Chart, ATAS, Jigsaw, or Quantower as supported, none of those are currently confirmed in the Topstep Help Center, so treat as unverified. The TFD acquisition (April 1, 2026) is bringing additional tech into TopstepX.

What is TopstepX?

TopstepX is Topstep's proprietary trading platform, built around TradingView charting. It includes depth-of-market, hotkeys, 60+ futures contracts (indices including ES/NQ/RTY, currencies, energy, metals, agriculture, fixed income), personal daily-loss-limit and profit-target settings (user-set discipline), trade limits (daily/weekly), an account lockout feature, an interactive 'Training Camp' education module, and a built-in trade copier. TopstepX has been my preferred Topstep platform after 3+ years of testing ,it is where the TFD acquisition tech is now being integrated. Full guide in TopstepX platform guide.

Does Topstep support Tradovate? No. As of 2026 Tradovate is no longer supported at Topstep; TopstepX is the only official Topstep platform. Quantower can connect via TopstepX credentials.

Yes. Tradovate is one of three currently supported platforms alongside TopstepX and NinjaTrader. Tradovate is web-based and desktop with a strong mobile companion, popular with traders who want low-friction install and reliable mobile order management. Connection setup runs through your Topstep account dashboard.

Does Topstep support NinjaTrader? No. As of 2026 NinjaTrader is no longer supported at Topstep; TopstepX is the only official Topstep platform. Quantower can connect via TopstepX credentials.

Yes. NinjaTrader is supported as the legacy desktop platform, popular with traders who have deep NT8 strategy/indicator/add-on libraries. Connection runs through Topstep's NinjaTrader Brokerage credentials, which are supplied per account. NinjaTrader runs on Windows primarily; macOS users typically pick TopstepX or Tradovate.

Does Topstep still support ProjectX?

No. ProjectX was retired in 2026. I miss ProjectX ,it was a clean, fast platform during my early Topstep years, but Topstep retired it and the new TFD-acquired tech promises to fill the gap inside TopstepX. Some legacy PTV content and older third-party reviews still list ProjectX as supported; this is outdated. The current platform stack is TopstepX (Topsteps only official platform; Quantower can connect via TopstepX credentials).

Does Topstep support Sierra Chart, ATAS, Jigsaw, or Quantower?

Not currently confirmed in the Topstep Help Center as of April 2026. Older PTV content listed Sierra Chart, ATAS, Jigsaw, and Quantower as supported, but the current Help Center references only TopstepX (Topsteps only official platform; Quantower can connect via TopstepX credentials). Treat older mentions as unverified until Topstep publishes an updated platform list. The TFD acquisition may expand the stack ,check Topstep trading platforms for the live status.

What instruments can I trade on Topstep?

All standard CME futures: equity indices (ES, NQ, RTY, YM and their micros MES, MNQ, M2K, MYM), energy (CL, NG and micros), metals (GC, SI and micros), agriculturals, currencies, and rates. Specific instrument availability follows CME's regular hours; some instruments restrict overnight trading depending on product. The TopstepX Help Center documents 60+ supported futures contracts. The Help Center does not publish a separate prohibited-instrument list as of April 2026.

Does Topstep have a mobile app?

TopstepX has a mobile-aware web UI optimized for browser use; Tradovate offers a robust first-party mobile app for monitoring and order entry. NinjaTrader is desktop-only with limited mobile companion. The cleanest mobile-first experience on Topstep currently runs through Tradovate or TopstepX-on-mobile-browser. Serious order entry and chart analysis still belong on desktop for most strategies.

Trust and legitimacy

Is Topstep legit?

Yes. Topstep is a 12-year-old Chicago futures prop firm ,one of the longest-running in the industry, alongside Apex. The firm is FCM-backed via Plus500US for the Live Funded tier, runs a separate retail brokerage product (Topstep Brokerage), and has paid out hundreds of millions of dollars across its lifetime. I have personally pulled around $17,000 in payouts over 3+ years on the $50K Combine. The Trustpilot rating sits at 3.4 across 13,827 reviews, lower than newer specialty firms, but a function of volume and operating surface area, not red-flag complaints.

Is Topstep a scam?

No. Topstep operates publicly out of Chicago, has paid me roughly $17,000 across 3+ years on the $50K Combine, and runs a transparent rule set published in detail through its Help Center. It is one of the earliest futures prop firms (launched around 2014) and was the acquirer in the April 1, 2026 acquisition of The Futures Desk ,acquirers in that role do not match the scam-firm profile. None of the standard scam patterns (post-funding rule changes, payout stalls, vanishing support) are present.

How long has Topstep been around?

Topstep was founded around 2014, making it 12+ years old as of April 2026 ,the longest-running futures prop firm in the modern industry alongside Apex. Headquartered in Chicago, Illinois. CEO Michael Patak has led the firm since founding. The 12-year operating history is one of the strongest trust signals across the prop space, where many competitors are 3 years old or younger.

Who is the CEO of Topstep?

Michael Patak is Topstep's founder and CEO. Patak co-led the April 1, 2026 acquisition of The Futures Desk alongside TFD founder Josh Schwartzberg. He is a public figure on Topstep's marketing channels, appearing in announcement videos and X content ,and remains active in product direction.

What is the Topstep Trustpilot rating?

3.4 out of 5 across 13,827 reviews as of April 2026 ,the lowest Trustpilot score among PTV-mature prop firms (Lucid 4.87, FundedNext 4.78, Tradeify 4.9, Alpha Futures 4.5, YRM Prop 4.3). The rating reflects 12 years of operating volume and the corresponding complaint surface area more than any structural issue, newer firms with smaller volumes naturally show cleaner Trustpilot snapshots.

What is new at Topstep in 2026?

Three big changes in 2026. First, January 12: profit-split structure changed from grandfathered 100%-on-first-$10K to flat 90/10 from $1 for new sign-ups. Second, February 5: XFA dual-path launched (Standard Path with 5 days/$5K + Consistency Path with 3 days/$6K). Third, April 1: Topstep acquired The Futures Desk, with Michael Patak announcing TFD tech integration into TopstepX under the 'Welcome to the next era' tagline.

Is Topstep regulated?

Topstep itself runs a sim-funded prop model that does not require direct regulation under U.S. securities frameworks. The Live Funded Account, however, is real-money execution backed by an FCM (Plus500US partnership). Topstep Brokerage is separately registered as a retail broker. The combination ,registered FCM partnership for real money, transparent prop rules for sim ,is the clean institutional setup. Direct CFTC oversight applies only to the FCM-backed real-money side, not the sim-prop product itself.

How much has Topstep paid traders historically?

Public Topstep marketing has referenced hundreds of millions of dollars paid out across the firm's 12-year history, with $250M+ cumulative payouts cited in multiple historical announcements. The exact running total as of April 2026 is not currently broken out in the live Help Center, but the order of magnitude is publicly substantiated. Cumulative payouts at this scale are one of the strongest legitimacy signals in the prop space, only a handful of firms across the industry have processed at that volume over a multi-year operating window.

Does Topstep publish trader success rates?

Yes. The 2025 cohort metrics from topstep.com publish: 16.8% Combine pass rate, 51.8% advance from any-Combine to Funded Level, 33.3% of Funded Level traders received payouts, and 0.71% of XFA traders reach Live Funded. These are public, transparent numbers ,most prop firms do not publish equivalent transparency. The 16.8% Combine pass rate is consistent with the prop industry's typical 10-20% pass-rate range; the 0.71% Live Funded selection is materially tight, reflecting Topstep's institutional risk standards on real capital.

Comparisons

How does Topstep compare to Apex Trader Funding?

Topstep and Apex are the two earliest U.S. futures prop firms, both 10+ years old and both popular with retail futures traders. Topstep uses a 1-step Combine on a monthly subscription model; Apex offers different evaluation structures with different fee mechanics. Topstep's Trading Combine profit targets sit at 6% across all sizes; Apex's targets and rule frameworks differ. Both have paid out substantial trader earnings over their lifetimes. Topstep was one of my first futures props alongside Apex when I started funded trading.

How does Topstep compare to Tradeify?

Topstep is the 12-year incumbent; Tradeify is a newer trader-friendly firm with a 4.9 Trustpilot. Topstep runs a monthly subscription on the Combine; Tradeify runs one-time-fee evaluations. Topstep's profit split is 90/10 from $1 (current sign-ups); Tradeify's structure differs by plan. Tradeify's news rules and drawdown options also differ meaningfully. Choose by which fee model and rule set match your trading rhythm.

How does Topstep compare to YRM Prop?

Topstep is the 12-year incumbent with a 1-step monthly Combine and FCM-backed Live tier; YRM Prop is a newer U.S. firm with three product tiers (Starter, Prime, Instant Prime), one-time fees, and Trailing EOD across all products. Topstep prohibits VPN entirely; YRM allows VPN but monitored. Topstep platforms are TopstepX (Topsteps only official platform; Quantower can connect via TopstepX credentials); YRM platforms are Volumetrica, Quantower, ATAS, Tradesea. Topstep has no PTV affiliate; YRM has the VIBES affiliate code.

How does Topstep compare to Lucid Trading?

Topstep is the 12-year incumbent; Lucid Trading is one of the highest-rated newer firms (Trustpilot 4.87) and PTV's #1 traffic firm. The Trustpilot delta ,3.4 vs 4.87, partly reflects Topstep's volume and complaint surface area, partly reflects Lucid's tighter quality focus. Lucid runs different evaluation mechanics, drawdown types, and platform support.

How does Topstep compare to MyFunded Futures?

Topstep runs a 1-step monthly Combine to XFA to Live ladder; MyFunded Futures runs different evaluation structures with plan-dependent drawdown types. Topstep's first-payout cap on $50K is $5,000; MyFunded Futures caps differ by plan. Topstep is platforms-restricted to TopstepX (Topsteps only official platform; Quantower can connect via TopstepX credentials); MyFunded Futures supports a different platform stack.

How does Topstep compare to TakeProfitTrader?

Topstep uses trailing intraday on the Combine and trailing EOD on the XFA; TakeProfitTrader has historically used different drawdown frameworks. Topstep's monthly subscription model differs from TakeProfitTrader's typical one-time-fee model. Profit splits and reset policies vary by firm and plan.

What is the best Topstep alternative?

It depends on what you want to optimize. For Trustpilot reputation: Lucid Trading or Tradeify. For platform variety beyond Topstep's three: YRM Prop (Volumetrica/Quantower/ATAS/Tradesea) or Apex. For one-time-fee pricing: YRM, Lucid, or Tradeify. For the longest operating history alongside Topstep: Apex. The right alternative depends on which constraint binds hardest ,drawdown type, platform, fee model, or news/copy rules.

Should I pick Topstep or a newer firm?

The decision boils down to three trade-offs. First, fee model: Topstep's monthly subscription rewards traders who pass quickly and penalizes drawn-out Combines, while one-time-fee firms offer fixed cost regardless of duration. Second, drawdown type: Topstep's trailing intraday MLL on the Combine punishes wider stops, while many newer firms offer Trailing EOD or static drawdown alternatives. Third, brand and FCM-backing: Topstep's 12-year history and Plus500US partnership are unmatched among newer competitors. If institutional credibility outweighs cost, Topstep wins. If cost predictability and looser drawdown matter more, newer firms often win. The right answer is rarely universal ,it depends on the trader's edge, position-sizing style, and time-to-pass distribution.

Does the TFD acquisition change Topstep's competitive position?

Yes, and the timing matters. The April 1, 2026 acquisition of The Futures Desk feeds TFD's trading-desk technology directly into TopstepX, closing the platform-tech gap that newer firms have been exploiting (cleaner UIs, deeper analytics, faster modern stacks). For traders who left Topstep over TopstepX feature gaps, the next 6-12 months are worth watching. For traders comparing Topstep against newer firms today, TopstepX still trails in some specific feature areas (advanced order-flow tools, footprint charts) ,but the trajectory is now actively closing those gaps rather than widening.

The bottom line

Topstep is the 12-year incumbent of U.S. futures prop trading ,Chicago-based, FCM-backed via Plus500US for the Live Funded tier, and the longest-running firm in the modern industry alongside Apex. The current setup runs a 1-step Trading Combine on a monthly subscription ($49 / $99 / $149) with a $149 activation fee on advance, an Express Funded Account with a dual-path payout structure since February 5, 2026, and a real-money Live Funded Account that selects roughly 0.71% of XFA traders for real capital allocation up to $150K. Profit split is 90/10 from $1 for current sign-ups; pre-January-12-2026 accounts run on the older 100%-on-first-$10K grandfathered structure. Winning days require $150 net profit. The maximum payout is $6,000 per request, with a $5,000 first-payout cap on $50K Combine accounts. TopstepX is the only official Topstep platform; supported: TopstepX (Topsteps only official platform; Quantower can connect via TopstepX credentials), ProjectX was retired in 2026. VPN is fully prohibited. The April 1, 2026 acquisition of The Futures Desk is now flowing TFD's tech into TopstepX under Michael Patak and Josh Schwartzberg's joint leadership.

For my own track record: I have traded Topstep for 3+ years on the $50K Combine and pulled around $17,000 in cumulative payouts. TopstepX has been my preferred Topstep platform throughout. ProjectX is a loss I still feel, and the TFD-driven evolution of TopstepX is the kind of upgrade that earns the trade-off. Topstep is not the cheapest entry, the highest Trustpilot rating, or the most permissive on VPN ,but it remains one of the deepest-rooted, best-documented, and most institutionally credible futures prop firms in the U.S. industry. For traders who want the incumbent with the longest track record and the FCM-backed real-money tier, Topstep delivers exactly that.