Topstep vs Sway Funded – Elite Prop Firms Comparison
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Introduction
Topstep and Sway Funded sit at very different ends of the prop-firm spectrum. Topstep, founded in Chicago in 2012, invented the modern evaluation model and has paid out more than $1 billion to funded CME futures traders – single-phase Trading Combine®, monthly subscription, mandatory TopstepX platform for all new accounts since July 2025. Sway Funded is a much newer firm, incorporated in Saint Lucia in February 2024, offering three evaluation routes (Rapid 1-Step, Regular 2-Step, Instant 0-Step) across forex, indices, commodities, crypto, and stocks on its proprietary Liquid Charts and Liquid Charts Pro platforms. The two firms differ on instruments (futures vs multi-asset CFDs), pricing model (monthly subscription vs one-time refundable fee), and platform openness, so the right pick depends on which trade-offs match your style.
TL;DR: Topstep (grade 9) offers a 90% trader share; first-$10,000 lifetime-profit exception for traders who joined the new dashboard before Jan 12, 2026 profit split; Sway Funded (grade 8.1) offers 80-90%. Full side-by-side below. Best for: Topstep - Serious futures traders seeking established firm with forgiving evaluation. Sway Funded - Traders seeking flexible challenge formats with no time pressure. Our higher-rated pick: Topstep (9 vs 8.1).
Quick Facts
| Feature | Topstep | Sway Funded |
|---|---|---|
| 
| |
| Founded | 2012 | 2024-02 |
| Profit Split | 90% trader share; first-$10,000 lifetime-profit exception for traders who joined the new dashboard before Jan 12, 2026 | The Programmes — Regular (2-phase): 80% The Programmes — Rapid (1-phase): 80% The Programmes — Instant: 55–75% only |
| Maximum Account Size | $150,000 | $200,000 |
| Evaluation Phases | 1 | 2 |
| Trustpilot Rating | 3.4 | — |
| Expert Grade | 9 | 8.1 |
Program Types
| Program | Topstep | Sway Funded |
|---|---|---|
| Entry Level Program | Yes | Yes |
| Advanced Program | — | Yes |
| Scaling Options | No | Yes |
| Demo Account | No | Yes |
Rules & Assessment
| Criteria | Topstep | Sway Funded |
|---|---|---|
| Profit Target | Trading Combine Parameters — 50,000: 3,000 Trading Combine Parameters — 100,000: 6,000 Trading Combine Parameters — 150,000: 9,000 | The Programmes — Regular (2-phase): 10% then 8% The Programmes — Rapid (1-phase): 15% The Programmes — Instant: 8 / 12 / 16% step targets |
| Maximum Drawdown | Trailing MLL: $2,000-$4,500 | The Programmes — Regular (2-phase): 10% (20%) The Programmes — Rapid (1-phase): 10% (20%) The Programmes — Instant: 8% |
| Minimum Trading Days | Trading Combine can pass in as few as 2 days, subject to 55% consistency; funded payout paths have separate day requirements | The Programmes — Regular (2-phase): 12 total The Programmes — Rapid (1-phase): 8 The Programmes — Instant: 8 |
| News Trading | Yes | Yes |
| Daily Loss Limit | Trading Combine Parameters — 50,000: Optional (1,000) Trading Combine Parameters — 100,000: Optional (2,000) Trading Combine Parameters — 150,000: Optional (3,000) | The Programmes — Regular (2-phase): 5% (10% with add-on) The Programmes — Rapid (1-phase): 5% (10%) The Programmes — Instant: 3% |
| Consistency / Best Day Rule | — | The Programmes — Regular (2-phase): None The Programmes — Rapid (1-phase): None The Programmes — Instant: 20% |
| Maximum Contracts | Trading Combine Parameters — 50,000: 5 (50 micros) Trading Combine Parameters — 100,000: 10 (100 micros) Trading Combine Parameters — 150,000: 15 (150 micros) | — |
Fees & Pricing
| Option | Topstep | Sway Funded |
|---|---|---|
| CFD $10K Account | Not listed in review pricing source | Listed challenge / USD 66 / One-time |
| CFD $25K Account | Not listed in review pricing source | Listed challenge / USD 156 / One-time |
| CFD $50K Account | Not listed in review pricing source | Listed challenge / USD 289 / One-time |
| CFD $100K Account | Not listed in review pricing source | Listed challenge / USD 499 / One-time |
| CFD $200K Account | Not listed in review pricing source | Listed challenge / USD 849 / One-time |
| Futures $50K Account | Trading Combine / USD 49 / Monthly Standard Trading Combine monthly price. Source Checked 2026-08-10 | Not listed in review pricing source |
| Futures $100K Account | Trading Combine / USD 99 / Monthly Standard Trading Combine monthly price; tier was marked temporarily on hold when verified. Source Checked 2026-08-10 | Not listed in review pricing source |
| Futures $150K Account | Trading Combine / USD 199 / Monthly Standard Trading Combine monthly price. Source Checked 2026-09-27 | Not listed in review pricing source |
| Refund Policy | — | Refundable challenge fees upon first profit withdrawal |
| Coupons / Discount | Topstep discount | Sway Funded discount |
Platforms & Markets
| Feature | Topstep | Sway Funded |
|---|---|---|
| Trading Platforms | TopstepX; Quantower connectivity for Trading Combine and Express Funded accounts | Sway Charts, Sway Charts Pro, Liquid Charts, Liquid Charts Pro |
| Forex | Currency futures, not spot Forex | Yes |
| Stocks | No | Yes |
| Indices | Yes | Yes |
| Commodities | Yes | Yes |
| Cryptocurrencies | No | Yes |
| Bonds | Yes | — |
| EA/Algo Trading | Yes | No |
Payout
| Feature | Topstep | Sway Funded |
|---|---|---|
| Payout Terms | $125 minimum; eligibility by funded-account path, not a bi-weekly schedule. XFA Standard: 5 winning days of $150+; XFA Consistency: 3 trading days and 40% consistency. Balance limits, account caps and method availability apply. | Bitcoin, Ethereum, USDT (1.5% withdrawal fee, typically 24 hours) |
| See all prop firm payouts → | ||
Verdict
| Key Element | Topstep | Sway Funded |
|---|---|---|
| Strengths | Trading Combine has no maximum completion deadline while the subscription remains active; automated strategies permitted subject to rules; 90% current trader share; Standard or Consistency Express payout paths. Daily-loss-limit arrangements vary. | No trailing drawdown, No consistency rule, No overnight holding restrictions, Weekend holding permitted, No time limits, Active in 150+ countries |
| Weaknesses | Recurring Combine subscription; $149 XFA activation on Standard pricing path; futures-only; end-of-day trailing MLL can be breached intraday on unrealised losses | Relatively new firm (founded Feb 2024), Proprietary platform only, 1.5% withdrawal fee, No phone support, Not regulated broker |
| Best For | Serious futures traders seeking established firm with forgiving evaluation | Traders seeking flexible challenge formats with no time pressure |