Side-by-side: drawdown, payouts, pricing, platforms. Topstep uses Intraday trailing, The5ers uses EOD-trailing (no lock) — these are different beasts.
| Dimension | Topstep | The5ers |
|---|---|---|
| Drawdown mechanic | Intraday trailing | EOD-trailing (no lock) |
| Cheapest eval | $49 | $22 |
| Profit split | 90% | 100% |
| Payout frequency | Next Trading Day | Bi-weekly |
| Max funding | $150,000 | $4,000,000 |
| Max payout | $150,000 | — |
| Assets | Futures | Forex, Futures |
| Platforms | TopstepX, NinjaTrader, Tradovate | cTrader, MT5, BlackArrow |
| Payout methods | Wise, Wire / SWIFT, ACH, Aeropay | Crypto, Rise |
| Promo code | — | 7QHKBHSAQV |
| Paul-tested | Research-based | Yes |
Topstep uses Intraday trailing while The5ers uses EOD-trailing (no lock). Your risk approach needs to adjust when switching.
MLL tracks intraday equity-high tick by tick. Spike up = floor raised instantly.
MLL trails end-of-day equity-high with no lock. Pure trailing-up.
Topstep offers 4 plans. The5ers offers 4 plans.
Topstep's cheapest evaluation is $49. The5ers's cheapest is $22. The5ers wins on entry price marginally.
Topstep uses Intraday trailing. The5ers uses EOD-trailing (no lock). These are fundamentally different — your risk model needs to change when switching between them.
Topstep: 90%. The5ers: 100%.
Topstep is research-based on this site — Paul has not yet completed a full evaluation cycle there. The5ers also Paul-tested with documented payouts.
Yes. Different prop firms have no shared compliance — running them in parallel is the standard playbook for funded traders looking to diversify firm-risk. Track each firm's rule changes independently.
Topstep payout cadence: Next Trading Day. The5ers: Bi-weekly. Method matters too — Wise and Plaid typically beat ACH and wire by 1-2 days.
No cross-firm compliance overlap. Each firm 1099s independently for US residents. Cross-firm copy-trading rules only matter inside a single firm's account family.
Drawdown mechanic comes first. Both firms run trailing mechanics — winners decide on entry price and payout speed. After mechanic, evaluate payout speed and your strategy's drawdown profile.
