Kamal Latai
Founder & Lead Analyst
March 20, 202613 min read
8.5
/10
Overall Score
Based on 5 evaluation criteria
🛡Trust & Reputation9.2
📋Trading Rules7.5
💰Payout Process9.0
💎Value for Money8.8
⚡Platform & Tools8.0
Quick Summary
Topstep is a Chicago-based futures prop firm founded in 2012, one of the longest-running in the industry. Their Trading Combine evaluation starts at $49/month for a $50K account, with a 100% profit split on the first $10,000 earned. Supports NinjaTrader, Tradovate, and TradingView.
01Company Background
Topstep was founded in 2012 by Michael Patak in Chicago, the heart of the American futures trading industry. As one of the earliest funded trader programs for futures, Topstep helped define the prop firm evaluation model that many competitors later adopted. The company operates from Chicago's financial district, giving it close proximity to the CME Group and other major futures exchanges.
Over its 14-year history, Topstep has built a track record that few competitors can match. The firm has funded over 50,000 traders and processed millions of dollars in payouts. Their longevity in an industry where many firms come and go within a few years speaks to the sustainability of their business model and their commitment to trader success.
Topstep has evolved its offering over the years, transitioning from a purely NinjaTrader-based platform to supporting Tradovate and TradingView as well. The company maintains an active community through educational content, live trading rooms, and social media presence. Their Chicago headquarters also hosts regular trading events and educational workshops.
02Challenge Types & Pricing
Topstep offers a single evaluation path called the Trading Combine. This straightforward one-step evaluation requires traders to reach a profit target while staying within daily and maximum loss limits. There are no minimum trading days, meaning skilled traders can pass the evaluation quickly.
Three account sizes are available: $50K ($49/month), $100K ($99/month), and $150K ($149/month). Each has proportionally scaled profit targets and loss limits. The $50K account requires a $3,000 profit target with a $1,000 daily loss limit and $2,000 maximum loss. The $100K doubles these figures, and the $150K scales to $9,000/$3,000/$4,500 respectively.
The monthly subscription model is distinctive in the industry, where most competitors charge a one-time fee. This approach lowers the barrier to entry but means ongoing costs if the evaluation takes multiple months. Topstep frequently runs promotional pricing that can significantly reduce these costs.
03Trading Rules Analysis
Topstep maintains relatively standard futures trading rules. Traders must close all positions by the end of each trading session and cannot hold positions overnight or through weekends. This reflects the firm's focus on intraday trading strategies.
Automated trading and Expert Advisors are not permitted, as Topstep requires all trades to be manually executed. Scalping is allowed, and traders can trade during news events. Copy trading and hedging across accounts are prohibited.
Contract limits scale with account size: the $50K account allows up to 5 mini contracts, the $100K allows 10, and the $150K allows 15. Micro contracts are also available, providing flexibility for risk management. The daily loss limit is a hard stop that closes all positions and locks trading for the day if breached.
04Payout Process
Topstep's payout structure is one of its strongest selling points. Funded traders keep 100% of their first $10,000 in profits, after which the split moves to 90/10 in the trader's favor. This is among the most generous initial payout terms in the futures prop firm industry.
Payouts can be requested after a minimum of 5 trading days in the funded account. The firm processes withdrawals through ACH bank transfer, PayPal, and Wise, with processing typically taking 1-3 business days. Traders can request payouts on a bi-weekly cycle.
There is no activation fee to start trading the funded account, which is another advantage over competitors that charge significant activation fees. The straightforward payout process with no hidden fees has been consistently praised in trader reviews.
05True Cost Analysis
Topstep's monthly subscription model creates a different cost dynamic compared to one-time fee competitors. The $50K Trading Combine at $49/month is one of the cheapest entry points in the industry. However, if evaluation takes several months, costs can accumulate.
There is no activation fee for the funded account, which saves traders $100-$900 compared to competitors like Bulenox or Earn2Trade that charge significant activation fees. The 100% profit split on the first $10K of earnings means the effective cost of the program can be recovered quickly by successful traders.
Compared to competitors: Bulenox charges $175 one-time plus $148 activation for a similar $50K account. Earn2Trade charges $260 one-time plus $315 activation. Topstep's $49/month with no activation fee is the most affordable if you pass within 3-4 months.
06Who Should Use Topstep?
Topstep is ideal for futures day traders who prefer a low-cost entry point and straightforward evaluation. The $49/month starting price makes it accessible for traders who want to test the waters without a large upfront investment. US-based traders particularly benefit from Topstep's domestic operations and ACH payout support.
Traders who use NinjaTrader, Tradovate, or TradingView will find seamless platform integration. The firm is especially well-suited for intraday traders who close all positions before the end of each session, as overnight holding is not permitted.
07Alternatives
The closest alternatives to Topstep in the futures space are Bulenox, Earn2Trade, and My Funded Futures. Bulenox offers similar account sizes with 100% profit split but charges one-time evaluation fees plus activation fees. Earn2Trade provides a more structured educational approach with its Trader Career Path program. My Funded Futures offers a simpler evaluation with competitive pricing.
Traders comparing these options should consider: Topstep's monthly subscription vs. one-time fees, the absence of activation fees at Topstep, and the 100% first $10K profit split. For traders who can pass quickly, Topstep's cost structure is hard to beat. For those who prefer a single upfront payment, Bulenox or Earn2Trade may be preferable.
Final Verdict
8.5/10 — Very Good
PropFirm Key Expert Rating
Topstep earns its reputation as one of the most trusted names in futures prop trading. With 14 years of operations, over 50,000 funded traders, and a straightforward evaluation process, the firm offers reliability that newer competitors cannot match. The $49/month entry point, zero activation fees, and 100% profit split on the first $10K make it one of the most trader-friendly options available.
The main limitations are the restriction on overnight holding and automated trading, which rules out swing traders and algo traders. The monthly subscription can also add up for traders who take several months to pass. However, for intraday futures traders seeking a low-risk entry into funded trading with a proven, established firm, Topstep remains a top choice in 2026.