Topstep vs Funding Traders – Elite Prop Firms Comparison
Introduction
Topstep and Funding Traders operate in adjacent corners of the prop industry. Topstep, founded in Chicago in 2012, is the original CME-futures specialist – more than $1 billion paid out to funded traders, single-phase Trading Combine®, mandatory TopstepX platform for new accounts since July 2025. Funding Traders, founded in 2019 with London headquarters and FCA regulation, runs a two-phase challenge model across multi-asset markets – forex, indices, commodities, and crypto – with up to $200,000 in initial funding scaling to $1 million for consistent performers. The two firms differ on instruments (futures-only vs multi-asset), evaluation structure (single-phase vs two-phase), and pricing model (monthly subscription vs one-time challenge fee), so the right pick depends on which trade-offs match your style.
Quick Comparison |
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| Feature | Topstep | Funding Traders |
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| Founded | 2012 (Chicago, IL) | 2019 (London, UK); FCA-regulated |
| Trustpilot Rating | 3.4/5 (13,872+ reviews, April 2026) | Not specified |
| Account Sizes | $50K / $100K / $150K Trading Combine® | Up to $200,000 initial; scales to $1,000,000 |
| Profit Split | 100% on first $10K, 90/10 thereafter | 80% standard, up to 90% with scaling |
| Evaluation Style | Single-phase Trading Combine® | Two-phase: Challenge + Verification (Pro or Next Gen) |
| Review | Read full review | Read full review |
Program Types – Which experience fits your goals? |
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|---|---|---|
| Program | Topstep | Funding Traders |
| Standard Evaluation | Trading Combine® at $50K, $100K or $150K | Funding Traders Pro – 8% / 5% targets, 10% max drawdown |
| Express / Single-Step | Combine is single-phase by default | Not offered – both Pro and Next Gen are two-phase |
| Practice / Demo | Not offered separately | 7-day demo challenge available for new users |
| Educational Support | Discord (150,000+ traders), live trading rooms, daily sessions | Weekly webinars, video course library, 1:1 coaching, community forums |
| Account Scaling | Limited beyond the largest Combine size | 25% account size increase after every 3 months of consistent profitability; scale to $1M |
Assessment Criteria – How can you pass the test? |
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|---|---|---|
| Criteria | Topstep | Funding Traders |
| Profit Target (Phase 1) | 6% – $3,000 / $6,000 / $9,000 (Small / Medium / Large) | 8% (Pro) or 12% (Next Gen) within the challenge phase |
| Profit Target (Phase 2) | N/A – single phase | 5% (Pro verification) or 8% (Next Gen verification) |
| Maximum Daily Loss | None – no daily loss limit | 5% daily drawdown (Pro) or 4% daily drawdown (Next Gen) |
| Maximum Trailing Drawdown | End-of-day trailing MLL: $2,000 / $3,000 / $4,500; stops trailing at starting balance | 10% (Pro) or 8% (Next Gen) maximum drawdown; trailing kicks in after target is reached |
| Minimum Trading Days | 5 trading days | 10 days (Pro) or 15 days (Next Gen) per phase |
| Time Limit | None – trade at your own pace | 30/60 days (Pro phases) or 45/45 days (Next Gen phases) |
| Consistency Rule | Best day cannot exceed 50% of total profits at payout | Maximum position size 5% of account equity; stop-loss required on all positions |
Fees and Pricing – How much will you pay? |
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|---|---|---|
| Option | Topstep | Funding Traders |
| Entry Level | $50K Combine: $49/month + $149 activation, or $109/month no-activation | Smallest tier – one-time challenge fee (see fundingtraders.com) |
| Mid Tier | $100K Combine: $99/month + $149 activation, or $159/month no-activation | Mid tier – one-time challenge fee |
| Premium | $150K Combine: $149/month + $149 activation, or $209/month no-activation | $200,000 initial funding tier – one-time challenge fee |
| Reset Fee | One free reset credit earned per monthly renewal | Reset available once per challenge for 50% of the original fee |
| Refundable? | Activation-fee path or no-activation path; subscription is non-refundable | Standard one-time fee model |
| Coupons | Coupon Code | Coupon Code |
| Review | Read full review | Read full review |
Platforms/Tools – What can you use? |
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|---|---|---|
| Platform | Topstep | Funding Traders |
| Trading Platforms | TopstepX only (mandatory for new accounts since July 2025) | Multi-asset trading platform with partnered liquidity providers |
| Data Feed | Bundled with TopstepX | Major liquidity-provider feeds for competitive spreads |
| Mobile Trading | Mobile-browser support | Mobile access available via the platform |
| Custom Indicators | Integrated TradingView charting plus the proprietary Tilt™ risk indicator | Custom indicators exclusive to Funding Traders clients; AI-powered trade feedback |
| Automated Trading | EAs fully permitted, no restrictions | Prohibited Expert Advisors and automated strategies are not allowed |
| News Feed | Integrated within TopstepX | Not specified – no overnight holding during high-impact news events |
Available Markets/Products |
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|---|---|---|
| Market | Topstep | Funding Traders |
| Forex | Not offered | Available – commission $5 per standard lot round turn |
| Index Futures / Indices | ES, NQ and the full CME index suite | Indices available – commission $6 per standard lot round turn |
| Energy / Commodities | CL and full CME energy and commodity complex | Commodities available with variable commission by instrument |
| Metals | GC and CME metals | Available within the commodities commission tier |
| Crypto | Not offered | Cryptocurrencies – 0.1% commission on trade value |
| Stocks | Not offered | Not specified – no equities advertised on the firm site |
| Total Coverage | CME Group futures only | Forex, indices, commodities, metals, and crypto with 1:100 max leverage |
Technical Capabilities/Performance |
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|---|---|---|
| Feature | Topstep | Funding Traders |
| Execution Speed | Direct via TopstepX infrastructure | High-speed execution with minimal slippage per the firm’s documentation |
| Automated Trading | EAs permitted with no specific restrictions | Restricted – prohibited EAs and automated strategies not allowed |
| Order Types | Standard futures order set (Market, Limit, Stop, OCO) | Standard order set; stop-loss required on all positions |
| Platform Reliability | Established since 2012; $1B+ in cumulative payouts | Founded 2019; FCA-regulated entity |
| Data Feed Quality | TopstepX-bundled CME data | Partnered liquidity providers for competitive spreads and execution |
| Trading Hours | Standard CME futures sessions | No trading during non-market hours or on illiquid instruments |
Support and Community |
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|---|---|---|
| Support Feature | Topstep | Funding Traders |
| Customer Support Hours | Live chat, email, phone, SMS, WhatsApp | 24/5 support via live chat, email, and phone |
| Response Time | Same-day during business hours | Not specified |
| Live Coaching | Daily live trading sessions and webinars | Weekly webinars and 1:1 coaching for challenge participants |
| Trading Community | 150,000+ Discord members | 50,000+ traders globally; community forums for strategy sharing |
| Educational Resources | Multiple tracks, courses, podcasts | Comprehensive video course library included with funded accounts |
| Success Stories | $1B+ in cumulative payouts | Scaling pathway up to $1,000,000 for consistently profitable traders |
Conclusion and Final Recommendation |
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|---|---|---|
| Key Element | Topstep | Funding Traders |
| Strengths | Longest live track record in futures, no daily loss limit, EAs permitted, $1B+ payouts, deep education ecosystem | FCA-regulated, multi-asset coverage, scaling pathway to $1M, generous payout method options (PayPal, Skrill, crypto, Wise), reset for 50% of fee |
| Weaknesses | Monthly subscription compounds; TopstepX-only platform; CME futures only | Stricter rules: daily drawdown limits, mandatory stop-loss, position-size cap, restricted EAs, minimum trading days per phase |
| Best For | Futures traders who want pedigree and the most established US-futures evaluation experience | Multi-asset discretionary traders who want a regulated firm with a clear scaling path and flexible payout rails |
| Final Grade | 4.4/5 | 4.0/5 |
| Discount Codes | – | Coupon Code |
| Review | Read full review | Read full review |
FAQ
Do Topstep and Funding Traders offer the same instruments?
No. Topstep is CME Group futures only – index, energy, metals, and currency futures (ES, NQ, CL, GC and similar). Funding Traders covers forex, indices, commodities, metals, and cryptocurrency CFDs across a single multi-asset platform. The two firms barely overlap on tradable products, so the choice mostly depends on what you actually trade.
What is the difference between Funding Traders Pro and Next Gen?
Pro uses an 8% / 5% profit-target structure across a 30-day challenge and 60-day verification, with 5% daily drawdown and 10% maximum drawdown. Next Gen tightens the rules: 12% / 8% targets, 4% daily drawdown, 8% maximum drawdown, and 45 days for each phase with 15 minimum trading days. Topstep, in contrast, uses a single-phase Trading Combine® with a 6% target and a trailing maximum loss limit.
How fast are payouts at each firm?
At Topstep, the first payout is available after a minimum holding period in the funded account (around 8–10 trading days), then every 14 days; daily payouts unlock after 30 consecutive winning days. At Funding Traders, payouts are bi-weekly with multiple rails – bank wire (3–5 days), PayPal (1–2 days), Skrill (24–48 hours), crypto (1–24 hours), or Wise (2–3 days).
Which firm has the more permissive rules?
Topstep. There is no intraday daily loss limit on Topstep funded accounts, EAs are fully permitted, and there is no time limit on the Combine. Funding Traders enforces a 4–5% daily drawdown, requires stop-losses on all positions, caps position size at 5% of account equity, restricts EAs, and imposes per-phase time limits.
Are there scaling options?
Funding Traders offers explicit scaling – accounts grow 25% after every 3 months of consistent profitability, scaling up to $1,000,000. Topstep does not publish a comparable scaling programme beyond its largest Combine size.
How was this 2 companies Comparison Created?
1. We Collect
We pull each firm’s public-facing rules, fees, drawdown parameters, profit splits, platforms, and supported markets from their official documentation and our own JoinProp reviews.
2. We Examine
Each criterion is normalised so the two firms are compared on the same axis – for example, “drawdown” is broken down into trailing vs static, intraday vs end-of-day, and any reset conditions.
3. We Score
Where one firm offers a meaningfully better term – lower fees, broader markets, more permissive rules – we identify it and explain the trade-off.
4. You Choose
The conclusion is written so you can match a firm to your trading style: instrument coverage, evaluation tolerance, and payout cadence are the three filters most traders should care about.
