Topstep Review
Topstep evaluates futures traders through its single-step Trading Combine, offering funded accounts with a 90/10 profit split and trailing drawdown rules.
- HQ
- Chicago, IL, United States
- Founded
- 2012
- Regulation
- Not publicly stated
Operated by TopstepTrader, LLC
Written by the Proptary Team · Updated 20 Oct 2026
Researched with AI assistance and verified by our editors
Overview
Topstep pays real money from simulated Express Funded Account results under a 90/10 profit split, so you keep 90 percent of approved net trading gains. On the Standard path, you can request a payout after five non-consecutive winning days of at least $150. You can withdraw up to 50 percent of your balance per request, with a $2,000 cap on a 50K account. Payouts go through Aeropay, Wise, or direct bank transfer, and Automated Clearing House (ACH) and wire payouts cost $30. Your account must also be net profitable since your last withdrawal before you can request another.
Topstep was founded in 2012 in Chicago, Illinois, by Michael Patak, a former floor trader at the Chicago Board of Trade. The business originally operated under the name TopstepTrader before rebranding to Topstep in 2020. The evaluation programs are contracted through TopstepTrader, LLC, while live funded accounts are operated by TopstepFunded LLC, both under parent entity Topstep LLC. Topstep launched an introducing broker, Topstep Brokerage LLC, in 2026.
Review summary
Pros and cons
What works
5 strengths
- Single-step evaluation with an end-of-day trailing loss limit that locks permanently once it reaches the initial balance.
- Direct payout path offering either five winning days or an alternative three-day consistency target with a 90/10 split.
- Direct transition path from simulated Express Funded Accounts into live capital accounts with uncapped daily payouts.
- Flexible contract sizing permitting traders to substitute ten micro contracts for each standard mini contract.
- Over twelve years of continuous operating history specializing exclusively in regulated CME and CBOT futures contracts.
What doesn't
5 to plan around
- Monthly recurring subscription model continues to charge your card every thirty days until the Combine is passed.
- Standard evaluation path requires a mandatory $149 activation fee for each earned Express Funded Account.
- Maximum withdrawal limits on Express Funded Accounts cap individual payout requests between $2,000 and $6,000.
- Standard bank wire and domestic ACH payout distributions incur a fixed $30 processing fee per withdrawal.
- Weekend holding is strictly prohibited, requiring all futures positions to close flat by Friday afternoon.
Cost of entry
Topstep pricing
| Account Size | Buying Power | Standard Path | No Activation Fee Path | Target | Max Loss Limit |
|---|---|---|---|---|---|
| $50,000 | 5 Minis / 50 Micros | $49/month + $149 activation fee | $95/month | $3,000 | $2,000 (trailing) |
| $100,000 | 10 Minis / 100 Micros | $99/month + $149 activation fee | $149/month | $6,000 | $3,000 (trailing) |
| $150,000 | 15 Minis / 150 Micros | $199/month + $149 activation fee | $229/month | $9,000 | $4,500 (trailing) |
Topstep charges $49 a month for its smallest 50K Trading Combine on the Standard path, or $95 a month on the No Activation Fee path. Choosing the Standard path keeps your upfront cost low, but requires a $149 activation fee once you pass into an Express Funded Account. If you take more than three months to reach the $3,000 profit target, the monthly subscription fees quickly accumulate, making the No Activation Fee plan more economical for patient traders. Resets cost the same as your monthly subscription rate, and fees renew every 30 days until you pass or cancel.
Rule clarity
Topstep rules
Score100 / 100Topstep rules center on a single-step Trading Combine requiring a $3,000 profit target and a $2,000 trailing Maximum Loss Limit on the 50K account. This loss limit trails your highest end-of-day balance upward and locks permanently at your starting balance once reached, though open intraday equity dips that touch the floor trigger immediate liquidation. Violating the maximum loss limit closes your account and forfeits the challenge fee. While daily loss limits are optional during the evaluation, failing to maintain the 55% consistency target simply raises your profit goal rather than ending your challenge.
- Profit target
- $3,000
- Max daily loss
- $2,000
- Max total drawdown
- $2,000
- Drawdown type
- Trailing (locks after target)
- Min trading days
- 2
- Time limit
- None
- Consistency rule
- Best single day must stay below 55% of the profit target in the Trading Combine, and largest day must be at or below 40% of net profits in the XFA Consistency path.
- Max leverage
- 5 contracts
- Scaling plan
- Yes, contracts scale with account balance in XFA and Live stages
- Platforms
- Proprietary, Quantower
- Instruments
- Futures
- Not accepted from
- Cuba, Iran, North Korea, Syria, Russia, Belarus, Yemen, Côte d'Ivoire, Myanmar, Venezuela, Sudan, South Sudan
What a locking trailing drawdown means for you
The limit trails your equity up to a target, then freezes at the starting balance. You get the tighter trailing rule early, but once you clear the target the floor stops chasing you and behaves like a static drawdown.
What changes once you are funded
In the Express Funded Account, balances start at zero and grow purely from trading gains. Traders must observe contract scaling tiers and payout caps between $2,000 and $6,000 per request. Live Funded Accounts remove dollar payout caps, unlock daily payouts after thirty winning days, and introduce mandatory exchange market data fees.
Strategy rules
- News trading
- Allowed
- EAs / bots
- Allowed
- Weekend hold
- Not allowed
- Hedging
- Not allowed
- Copy trading
- Allowed
- HFT / tick scalping
- Not allowed
Payout reliability
Topstep payouts
Score100 / 100Topstep payout rules distribute profits under a 90/10 profit split, with Topstep pays real money from simulated Express Funded Account results under a 90/10 profit split, so traders keep 90 percent of approved net trading gains. On the Standard path, you can request a payout after logging five non-consecutive winning days of at least $150, withdrawing up to 50 percent of your balance up to a $2,000 cap on a 50K account. Payout requests process through Aeropay, Wise, or direct bank transfer, with ACH and wires incurring a $30 processing fee. Topstep payout policy requires that the account remain net profitable since your previous withdrawal before you can request subsequent distributions.
- Profit split
- 90%
- Payout cycle
- On demand
- Reported payout speed
- 1-2 business days
- Withdrawal fee
- $30 for ACH and Wire/SWIFT (None for Aeropay, Wise, or Prop-to-Brokerage)
- Minimum withdrawal
- $125
- Payout methods
- Wise, Bank Wire, PayPal, Aeropay, Prop-to-Brokerage
Customer support
Customer support
Score70 / 100Topstep provides customer service through live chat, email, phone, and community Discord channels. Users initially interact with Windy, an automated assistant that handles routine platform inquiries before routing complex tickets to human support specialists. Public reports on Reddit indicate that technical ticket resolution and account reviews can take over 48 hours during volatile trading periods. Phone assistance operates during central business hours, while digital chat and ticket submission remain open continuously.
- Channels
- Live chat, Email, Discord, Phone, WhatsApp, SMS
- Availability
- 24/7
- Reported response time
- Over 2 days
- Reports collected
- 15 Oct 2026
Track record
Track record and transparency
Score85 / 100Topstep has maintained continuous futures evaluation operations since 2012, adapting its rules from legacy multi-step programs to the modern single-step Trading Combine. In January 2026, the firm introduced Topstep Brokerage LLC through an introducing broker partnership to allow direct transfers from funded accounts to live brokerage seats. Payout distributions are documented through digital Proof of Payout cards generated by the platform dashboard, and public searches show no recorded regulatory enforcement actions or unresolved non-payment court disputes.
Community sentiment
Community sentiment
Score70 / 100Community feedback on Trustpilot shows an average score of 3.7 from over 14,900 customer reviews. Traders frequently praise the firm for prompt withdrawal processing and clean platform execution on TopstepX. Conversely, negative discussions on Reddit center on platform stability during market spikes, automated bot replies from support, and recurring subscription charges when Combine evaluations are not canceled before monthly renewal dates.
Decision
Final verdict
Topstep remains an established firm in the retail futures funding sector, offering transparent rules and a dependable payout history. The single-step evaluation with an end-of-day trailing drawdown that locks at breakeven provides a clear path forward without confusing daily loss traps. However, the recurring monthly subscription model penalizes slow traders, and customer service response times have faced documented delays during peak periods. For disciplined intraday futures traders who understand contract scaling and maintain steady risk management, Topstep provides a viable bridge to professional trading capital.
Is Topstep right for you?
Topstep is right for you if you specialize in CME futures and prefer a single-step evaluation with an end-of-day trailing loss limit that locks at breakeven. It suits disciplined traders who can achieve the profit target within two to three months to avoid compounding subscription fees. It does not suit swing traders who need weekend positions or traders seeking forex or crypto instruments.
Who should trade with Topstep?
Intraday futures traders who execute structured strategies on equity index contracts and manage leverage carefully should trade with Topstep. Traders who rely on holding positions overnight or who struggle with monthly subscription pressure will find the recurring billing structure detrimental. The firm best serves traders aiming to transition from simulated environments to uncapped live capital.
Questions
FAQ
What is Topstep?
Topstep is an online futures prop firm that evaluates day traders through simulated Trading Combines, Topstep is an online futures prop firm that evaluates day traders through a simulated Trading Combine. Passing it earns an Express Funded Account, which is also simulated, although approved profits are paid out in real money. At its own discretion, Topstep may later invite traders to a Live Funded Account, which trades real capital.
Is Topstep legit?
Topstep is a US-based company founded in 2012 and headquartered in Chicago, Illinois. Topstep Brokerage LLC, is registered with the NFA as an introducing broker. That registration does not make the simulated Trading Combine or Express Funded Account a regulated product.
Does Topstep have a consistency rule?
Yes, Topstep enforces a consistency target in both evaluation and funded stages. In the Trading Combine, your best single day cannot exceed 55 percent of your total profit target. In the Express Funded Account Consistency path, your largest winning day must stay at or below 40 percent of total net profit.
How does Topstep work?
You purchase a monthly Trading Combine subscription in a chosen account size and trade futures on TopstepX. Once you reach the profit target without breaching the trailing Maximum Loss Limit, The Express Funded Account is simulated, so you are not trading Topstep's real capital, but you keep 90 percent of approved trading profits as real payouts.
How many Topstep accounts can I have?
You can run unlimited Trading Combine evaluations simultaneously under a single user profile. However, Topstep caps funded traders at five active Express Funded Accounts and a single Live Funded Account, with trade copiers permitted across accounts up to $750,000 in combined buying power.
Is Topstep a broker?
No, Topstep itself is a proprietary trading evaluation firm rather than a broker. However, its corporate group includes Topstep Brokerage LLC, an affiliate introducing broker registered with the NFA that allows funded traders to open personal live brokerage accounts for direct market execution.
Related firm reviews
Compare all prop firms
Before you pay
Many prop firms operate without a financial services license. They argue that traders use simulated accounts and the firm risks its own capital, so no client money is held and no license is required. That arrangement is common in this industry, but it also means no regulator supervises the firm and there is no compensation scheme if it stops paying. What matters instead is whether the company behind the brand is named and traceable, and whether it has a payout record you can check.
This page is for information only and is not investment or trading advice. Trading through a funded or proprietary trading program carries real risk, including the loss of evaluation fees and any funded account. Rules, pricing, and payout terms vary by firm and can change without notice. A Proptary Grade reflects our most recent check and may not capture very recent changes, so confirm current terms directly with the firm before buying an evaluation.
Before you pay
Many prop firms operate without a financial services license. They argue that traders use simulated accounts and the firm risks its own capital, so no client money is held and no license is required. That arrangement is common in this industry, but it also means no regulator supervises the firm and there is no compensation scheme if it stops paying. Proptary is not a financial institution, not an investment adviser, and is not supervised by any financial regulator.
Nothing here is advice. Our grades, scores and write-ups are information only. They are not investment or trading advice, not a recommendation to buy an evaluation, and not tailored to your circumstances. Read the firm’s own terms and decide for yourself.
A grade is not a guarantee. A Proptary Grade summarises the evidence we were able to verify on the date shown. It is not a measure of the firm’s financial strength, not a promise that it will pay you, and not an assurance that it will still be operating next month. Payout records, review scores and support times we cite are historical evidence, never a forecast.
The fee is at risk from the moment you pay it. An evaluation buys an attempt, not an account. Most traders do not pass. Breaching a drawdown or consistency rule can cost you the entire fee and any funded account, with no refund.
Prices and rules change without notice. Firms change fees, rules and payout terms, sometimes days after we check. Confirm the current terms on the firm’s own site before you pay for anything. Proptary is not liable for losses arising from reliance on information published here.
Links to firms leave Proptary. We do not open, hold or operate trading accounts. Payment, identity checks, data handling and payouts are between you and the firm, under that firm’s own terms and privacy policy.
How this page is researched. Data is gathered with AI assistance and verified by our editors against the firm’s own documents before publishing.