Topstep vs Funding Rock – Elite Prop Firms Comparison
# Topstep vs Funding Rock – Elite Prop Firms Comparison
Topstep and Funding Rock occupy different ends of the prop firm spectrum: Topstep is a futures-only firm with over a decade of operating history and $1 billion in verified payouts, while Funding Rock is a newer forex and CFD firm founded in 2025, offering multi-asset evaluation-based accounts with competitive profit splits. If you are a futures trader, Topstep is the clear category choice. If you trade forex, indices, commodities, or crypto, Funding Rock is worth a closer look – provided you are comfortable with a firm that is still building its track record.
At a Glance
| Topstep | Funding Rock | |
|---|---|---|
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| Founded | 2012 – Chicago, IL, USA | 2025 – Cyprus (Mindwave Training Limited, HE471803) |
| Asset Classes | Futures only (CME, CBOT, NYMEX) | Forex, indices, commodities, crypto |
| Account Sizes | $50K / $100K / $150K | $5K – $200K (scaling to $1M) |
| Evaluation Model | Monthly subscription (single-phase Trading Combine®) | One-time fee – Two-Phase Standard; Pay After You Pass option |
| Profit Split | 100% first $10K, then 90% | Up to 90% (80% standard → 90% premium) [FLAG: overview states “up to 95%” – unverified in fee tables] |
| Drawdown Style | Trailing MLL only (no daily cap) | Daily (from prev. day close) + Maximum (from initial balance) + Trailing (after targets) |
| Platform | TopstepX | cTrader / TradeLocker |
| Community | 150,000+ traders (Discord) | Active Discord community (size not specified) |
| Total Payouts | $1 billion+ | Not specified (firm founded 2025) |
| Discount | See discounts | Use code JOINPROP for 30% off |
| Full Review | Topstep Review | Funding Rock Review |
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Account Sizes & Fees
Topstep uses a monthly subscription model – you pay each month until you pass the Trading Combine®, then pay a one-time $149 activation fee (or choose the higher monthly rate with no activation). Funding Rock charges a one-time challenge fee upfront, with a “Pay After You Pass” option to defer costs until you succeed.
| Account Size | Topstep (monthly) | Funding Rock (one-time) |
|---|---|---|
| $5,000 | Not available | $59 (Two-Phase Standard) |
| $10,000 | Not available | $99 |
| $25,000 | Not available | $219 |
| $50,000 | $49/mo (+ $149 activation) or $109/mo (no activation) | $349 |
| $100,000 | $99/mo (+ $149 activation) or $159/mo (no activation) | $549 |
| $200,000 | Not available | $999 – $1,499 depending on challenge type |
| $150,000 | Not specified (Large Combine) | Not available |
Key difference: Topstep’s subscription accumulates cost the longer you take; Funding Rock’s one-time fee is fixed (failing means re-purchasing, unless using Pay After You Pass). Funding Rock’s $5K entry point is accessible to traders who want to start small before scaling.
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Challenge / Evaluation Programs
| Parameter | Topstep Trading Combine® | Funding Rock Standard Challenge |
|---|---|---|
| Phases | 1 phase | 2 phases |
| Profit Target | 6% ($3K on $50K; $6K on $100K) | Not specified per phase (targets described as “clear and achievable”) |
| Time Limit | No time limit | No time limit (unlimited duration) |
| Minimum Trading Days | 5 days | Not specified |
| Pay After You Pass | Not available | Available – defer challenge fee until you pass |
| Max Account (purchasable) | $150,000 | $200,000 |
| Scaling Cap | Not specified | Up to $1,000,000 (20% increase every 3 months) |
| Demo Trial | Not specified | Demo account available to test platform before purchasing |
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Profit Splits & Payouts
| Parameter | Topstep | Funding Rock |
|---|---|---|
| Base Profit Split | 100% on first $10,000 earned; 90% thereafter | 80% standard; 90% premium (after consistent performance) [FLAG: overview states “up to 95%” – not confirmed in fee tables] |
| Payout Frequency | Every 14 days (bi-weekly); daily after 30 consecutive winning days | First payout after 14 days of funded trading; subsequent payouts every 14 days (on-demand for established accounts) |
| Minimum Payout | Not specified | Not specified |
| Payment Methods | ACH (US), wire transfer, crypto | Wise (1–3 business days) |
| Consistency Rule | 50% rule – best day cannot exceed 50% of total profit at payout | Not specified |
| Total Paid Out | $1 billion+ | Not specified (firm founded 2025) |
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Drawdown Rules
| Parameter | Topstep | Funding Rock |
|---|---|---|
| Daily Loss Limit | None – no daily drawdown cap | Yes – based on previous day’s closing balance; resets at market close |
| Maximum Drawdown | Trailing MLL from highest end-of-day balance ($2,000 on $50K; $3,000 on $100K) | Static – calculated from initial account balance |
| Trailing Drawdown | End-of-day trailing (does NOT trail intraday); floor rises as EOD balance grows | Available after hitting profit targets – trails with account growth, locking in gains |
| Drawdown Style | Single rule (MLL): trailing from EOD peak; no separate daily cap | Three-layer: daily reset + static maximum + trailing after targets |
| Exact % Limits | $2K–$4.5K absolute ($50K–$150K); no percentage-based daily cap | Not specified precisely in KB |
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Trading Platforms
| Platform | Topstep | Funding Rock |
|---|---|---|
| Primary Platform(s) | TopstepX (exclusive for new accounts from July 2025) | cTrader, TradeLocker |
| Charting | Integrated TradingView charting | Platform-native charting (advanced order management, depth of market) |
| Mobile | Mobile browser compatible | Not specified |
| API Access | Yes – direct API access available | Not specified |
| Proprietary Tools | The Tilt™ indicator, built-in drawdown tracker | Not specified |
| Futures Platform | TopstepX (all accounts – futures only) | Not available (forex/CFD only) |
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Trading Rules & Restrictions
| Rule | Topstep | Funding Rock |
|---|---|---|
| Expert Advisors (EAs) | Fully permitted – EAs and automated strategies allowed | Permitted – must comply with all trading rules (no HFT, no arbitrage, no martingale) |
| Copy Trading | Not specified | Prohibited during challenge; permitted after funding |
| HFT / Scalping | Not specified | Prohibited (no high-frequency trading algorithms) |
| Martingale / Grid | Not specified | Prohibited |
| Arbitrage | Not specified | Prohibited |
| News Trading | Not restricted | [FLAG: KB CONTRADICTION – Trading Rules section states “News Trading Not Permitted”; FAQ states “Absolutely permitted during all major economic releases without restrictions.” Verify directly with Funding Rock before trading news.] |
| Overnight Holding | Permitted | Not specified |
| Weekend Holding | Permitted | Requires a paid add-on to enable |
| Consistency Rule | 50% rule at payout | Not specified |
| VPN | Not specified | See T&Cs (IP rules reference terms only) |
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Markets Traded
| Market | Topstep | Funding Rock |
|---|---|---|
| Forex | Not available (futures only) | Yes – major, minor, and exotic pairs |
| Futures | Yes – CME, CBOT, NYMEX (full suite) | Not available |
| Indices | Via index futures (ES, NQ, YM, etc.) | Yes – S&P 500, NASDAQ, DAX, FTSE, and more |
| Commodities | Via futures (gold, oil, grains, etc.) | Yes – gold, silver, oil, natural gas |
| Cryptocurrencies | Via CME crypto futures | Yes – Bitcoin, Ethereum, and major altcoins |
| Stocks | Not available | Not specified |
| Commissions (Forex) | N/A | $7 per round turn lot |
| Commissions (Indices) | N/A | $0 per round turn lot |
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Community, Support & Reputation
| Parameter | Topstep | Funding Rock |
|---|---|---|
| Founded | 2012 (13+ years operating) | 2025 (less than 1 year operating) |
| Trustpilot | 3.4 / 5 (13,872 reviews, April 2026) | Not specified |
| Community Size | 150,000+ traders (Discord) | Not specified (active Discord server) |
| Total Payouts | $1 billion+ | Not specified |
| Support Hours | Not specified | 24/7 (live chat, email ticketing) |
| Education | Not specified | Trading Academy (videos), weekly webinars, strategy guides, community forums |
| Regulation / Structure | Unregulated prop firm (simulated evaluation) | Unregulated prop firm – Mindwave Training Limited, Cyprus (HE471803) |
| Discount | See discounts | Code JOINPROP – 30% off challenge fee |
| Payout Proof | $1 billion+ verified | Public trading statistics claimed; independent verification not available (firm is new) |
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Which Firm Is Right for You?
Choose Topstep if: You trade futures and want the firm that invented the prop evaluation model. Topstep has 13+ years of verified track record, $1 billion in payouts, no daily drawdown cap, and full EA and news trading flexibility. For serious futures traders, there is no clearer choice.
Choose Funding Rock if: You trade forex, indices, commodities, or crypto and are looking for a newer firm with competitive structures. The $5K entry point, “Pay After You Pass” option, 90% profit split ceiling, and 20% quarterly scaling are genuine strengths. The 30% discount code (JOINPROP) lowers the entry cost further. However, as a firm founded in 2025, Funding Rock has a shorter track record – research current trader feedback before committing.
Important note on news trading: Funding Rock’s published rules contain a direct contradiction on news trading – one section prohibits it, the FAQ permits it. Verify the current policy with Funding Rock support before basing a strategy on either assumption.
