Apex Trader vs Topstep - Prop Firm Comparison
Introduction
When comparing prop trading firms, Apex Trader and Topstep each offer distinct paths to funded trading. Apex Trader is Austin, Texas, USA-based, founded in 2021, and is known for 100% profit split on first $25K earned, $378M+ paid out to traders. It holds a 4.3/5 (19,525 reviews (June 2026)) Trustpilot rating. Topstep, based in Chicago, Illinois, USA, was founded in 2012 and stands out for Industry pioneer since 2012 – invented the evaluation model, flat 90/10 profit split for new accounts (100% of first $10K is legacy, pre-Jan 2026), holding a 3.4/5 (13,872 reviews) Trustpilot rating. Both firms provide paths to funded accounts, but their evaluation structures, pricing, and trader benefits differ in key ways that may suit different trader profiles.
Quick Facts
| Feature | Apex Trader Funding | Topstep |
|---|---|---|
 |  | |
| Founded | 2021 | 2012 |
| Profit Split | 100% first $25,000, then 90/10 | 100% first $10,000, then 90/10 |
| Maximum Account Size | $300,000 | $150,000 |
| Evaluation Phases | 1 | 1 |
| Trustpilot Rating | 4.4 | 3.4 |
| Expert Grade | 8.8 | 9 |
Program Types
| Program | Apex Trader Funding | Topstep |
|---|---|---|
| Entry Level Program | Yes | Yes |
| Advanced Program | Yes | — |
| Scaling Options | Yes | No |
| Demo Account | — | No |
Rules & Assessment
| Criteria | Apex Trader Funding | Topstep |
|---|---|---|
| Profit Target | 5-6% | 6% |
| Maximum Drawdown | Trailing drawdown (locks at starting balance) | Trailing MLL: $2,000-$4,500 |
| Minimum Trading Days | — | 5 |
| News Trading | Yes | Yes |
Fees & Pricing
| Option | Apex Trader Funding | Topstep |
|---|---|---|
| $10K Account | — | — |
| $25K Account | $47 | — |
| $50K Account | $67 | $49 |
| $100K Account | $97 | $99 |
| $200K Account | — | — |
| Refund Policy | — | — |
| Coupons / Discount | Apex Trader Funding discount | Topstep discount |
Platforms & Markets
| Feature | Apex Trader Funding | Topstep |
|---|---|---|
| Trading Platforms | Tradovate, Rithmic, WealthCharts | TopstepX |
| Forex | Yes | Yes |
| Stocks | Yes | No |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Cryptocurrencies | — | No |
| Bonds | Yes | Yes |
| EA/Algo Trading | Yes | Yes |
Payout
| Feature | Apex Trader Funding | Topstep |
|---|---|---|
| Payout Terms | Bi-weekly (min 8 trading days between requests, 5 days with $50+ profit) | Bi-weekly via ACH, wire, or Rise; $50 minimum |
| See all prop firm payouts → | ||
Verdict
| Key Element | Apex Trader Funding | Topstep |
|---|---|---|
| Strengths | $378M+ payouts verified, 17,800+ Trustpilot reviews, 20 simultaneous accounts, No daily loss limit, 100% profit on first $25K per account | Industry pioneer, generous first $10K profit split, no time limits, EAs permitted, no daily loss limit, $1B+ paid to traders |
| Weaknesses | 4:59 PM ET close requirement, 5:1 max risk-to-reward ratio, 30% consistency rule at payout, Learning curve for beginners | Monthly subscription fees compound, $149 activation fee, TopstepX platform exclusive, futures-only, trailing MLL can catch intraday profit-takers |
| Best For | Serious futures day traders seeking scalability and capital protection | Serious futures traders seeking established firm with forgiving evaluation |
FAQ
What makes Apex Trader stand out among prop firms?
Apex Trader, based in Austin, Texas, USA, was founded in 2021 and is best known for 100% profit split on first $25k earned, $378m+ paid out to traders. With a minimum evaluation cost of one-time fee and a up to 100% profit split, it offers a developing value proposition for futures traders seeking high profit splits and no daily loss limit.
How does Topstep differ from other prop firms?
Topstep, based in Chicago, Illinois, USA and founded in 2012, differentiates itself through Industry pioneer since 2012 – invented the evaluation model, flat 90/10 profit split for new accounts (100% of first $10K is legacy, pre-Jan 2026). With a Flat 90/10 (new accounts; 100% first $10K is legacy, pre-Jan 2026) profit split and 1-Step (Trading Combine®) evaluation, it is particularly suited to futures traders who want the most established firm.
Which firm offers better payouts – Apex Trader or Topstep?
Apex Trader offers a up to 100% profit split with Bi-weekly payouts processed in Within 24 hours. Topstep offers a Flat 90/10 (new accounts; 100% first $10K is legacy, pre-Jan 2026) profit split with Bi-weekly (daily after 30 winning days) payouts in 1-3 days. The better choice depends on whether you prioritise split percentage or payout frequency.
Are these prop firms suitable for beginners?
Both firms can accommodate beginners, but with different considerations. Apex Trader is best suited to Futures traders seeking high profit splits and no daily loss limit, while Topstep is better aligned with futures traders who want the most established firm. New traders should start with the smallest available account size and thoroughly review all rules before committing.
What happens if I fail the evaluation at either firm?
Most prop firms allow traders to purchase a reset to restart their evaluation phase, typically at 40-50% of the original fee. Neither firm penalises future attempts based on previous failures. Check each firm’s official site for current reset pricing and terms.
How was this Comparison Created?
1. We Collect
Our research team gathered data directly from the official websites, terms of service documents, and public communications of both Apex Trader and Topstep. We supplemented this with verified user reviews on Trustpilot and trading community forums, and consulted active traders with first-hand experience at each firm.
2. We Examine
Our team of professional traders verified all information, cross-checking accuracy against each firm’s current platform, evaluation parameters, and pricing pages. Special attention was paid to profit split structures, drawdown rules, and payout conditions to ensure our assessment reflects the real trader experience.
3. We Score
We apply a scoring methodology across seven key categories: evaluation structure, trading conditions, costs and fees, platform quality, profit potential, customer support, and educational resources. Each category is weighted by importance to traders at different experience levels.
4. You Choose
This comparison is designed to help you identify which firm better aligns with your trading style, experience level, and goals. Consider your priorities – evaluation flexibility, profit split, platform preference, and firm track record – then visit each firm’s full review on JoinProp for the complete picture. Read the Apex Trader review or read the Topstep review to go deeper.
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