Topstep vs Sway Funded – Elite Prop Firms Comparison
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.
Quick Comparison |
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| Feature | Topstep | Sway Funded |
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| Founded | 2012 (Chicago, IL) | February 2024 (Saint Lucia) |
| Trustpilot Rating | 3.4/5 (13,872+ reviews, April 2026) | Not specified |
| Account Sizes | $50K / $100K / $150K Trading Combine® | $1,000 – $200,000 across Rapid, Regular, and Instant accounts |
| Profit Split | 100% on first $10K, 90/10 thereafter | 80% standard, scaling up to 90% with optional add-on |
| Evaluation Style | Single-phase Trading Combine® | Rapid (1-step), Regular (2-step), or Instant (no evaluation) |
| Review | Read full review | Read full review |
Program Types – Which experience fits your goals? |
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|---|---|---|
| Program | Topstep | Sway Funded |
| Standard Evaluation | Trading Combine® at $50K, $100K or $150K | Regular Challenge – 2-step evaluation, 10% / 5% targets, 5% daily and 10% max drawdown |
| Express / Single-Step | Combine is single-phase by default | Rapid Challenge – single-phase route advertised as faster pacing |
| Instant Funding | Not offered | Instant Account – bypasses evaluation entirely |
| Educational Support | Discord (150,000+ traders), live trading rooms, daily sessions | Weekly webinars, Discord community, one-on-one coaching for funded traders |
| Account Scaling | Limited beyond the largest Combine size | Scaling up to 4× initial capital, performance-based milestones, max $200,000 |
Assessment Criteria – How can you pass the test? |
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|---|---|---|
| Criteria | Topstep | Sway Funded |
| Profit Target (Phase 1) | 6% – $3,000 / $6,000 / $9,000 (Small / Medium / Large) | 10% (Standard) or 8% (Professional); no target on Instant Account |
| Profit Target (Phase 2) | N/A – single phase | 5% (Standard verification) or 4% (Professional verification); N/A for Rapid and Instant |
| Maximum Daily Loss | None – no daily loss limit | 5% (Standard) or 6% (Professional) |
| Maximum Drawdown | End-of-day trailing MLL: $2,000 / $3,000 / $4,500; stops trailing at starting balance | 10% (Standard) or 12% (Professional); no trailing drawdown |
| Minimum Trading Days | 5 trading days | 5 days (challenge phase) / 3 days (verification phase) on Standard |
| Time Limit | None – trade at your own pace | None – no time limit on Sway challenges |
| Consistency Rule | Best day cannot exceed 50% of total profits at payout | Not specified |
Fees and Pricing – How much will you pay? |
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|---|---|---|
| Option | Topstep | Sway Funded |
| Entry Level | $50K Combine: $49/month + $149 activation, or $109/month no-activation | One-time fee from a $1,000 tier; Sway advertises 50% off on the first challenge |
| Mid Tier | $100K Combine: $99/month + $149 activation, or $159/month no-activation | One-time fees scale with account size up to $100,000 |
| Premium | $150K Combine: $149/month + $149 activation, or $209/month no-activation | Up to $200,000 account size reachable via scaling, not direct purchase |
| Reset Fee | One free reset credit earned per monthly renewal | Discounted retake fees if the trader needs to restart a challenge |
| Refundable? | Activation-fee path or no-activation path; subscription is non-refundable | Challenge fee refundable on first profit withdrawal (per Sway marketing) |
| Coupons | See discounts | Coupon Code |
| Review | Read full review | Read full review |
Platforms/Tools – What can you use? |
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|---|---|---|
| Platform | Topstep | Sway Funded |
| Trading Platforms | TopstepX only (mandatory for new accounts since July 2025) | Liquid Charts and Liquid Charts Pro (proprietary); MT4, MT5, and TradingView are not supported |
| Data Feed | Bundled with TopstepX | Provided via partner broker Liquid Brokers (AFSL-licensed in Australia) |
| Mobile Trading | Mobile-browser support | Liquid Charts is web-based and works from mobile browsers |
| Custom Indicators | Integrated TradingView charting plus the proprietary Tilt™ risk indicator | Built-in analytics within Liquid Charts Pro |
| Automated Trading | EAs fully permitted, no restrictions | Not specified |
| News Feed | Integrated within TopstepX | Standard platform feeds; news trading restricted around high-impact events |
Available Markets/Products |
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|---|---|---|
| Market | Topstep | Sway Funded |
| Forex | Not offered | Major, minor, and exotic pairs; $5 per standard lot round-turn |
| Index Futures / Indices | ES, NQ and the full CME index suite | Global stock indices (US, European, Asian); $1–2 per standard contract |
| Energy / Commodities | CL and full CME energy and commodity complex | Energy, metals, and agricultural products; $2–4 per standard contract |
| Metals | GC and CME metals | Available within the commodities group |
| Crypto | Not offered | Major digital assets, 24/7 trading; 0.05% of position value |
| Stocks | Not offered | Selected US and international equities |
| Total Coverage | CME Group futures only | Forex, indices, commodities, crypto, and stocks across one proprietary platform suite |
Technical Capabilities/Performance |
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|---|---|---|
| Feature | Topstep | Sway Funded |
| Execution Speed | Direct via TopstepX infrastructure | ECN-style pricing with raw spreads via Liquid Brokers |
| Automated Trading | EAs permitted with no specific restrictions | Martingale, grid, arbitrage, latency exploitation, and news sniping prohibited |
| Order Types | Standard futures order set (Market, Limit, Stop, OCO) | Standard CFD order set on Liquid Charts and Liquid Charts Pro |
| Platform Reliability | Established since 2012; $1B+ in cumulative payouts | Newer firm (founded February 2024); 70,000+ traders across 150+ countries per Sway homepage |
| Data Feed Quality | TopstepX-bundled CME data | Partner-broker liquidity via Liquid Brokers |
| Trading Hours | Standard CME futures sessions | Multi-asset hours; weekend holding permitted on most instruments |
Support and Community |
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|---|---|---|
| Support Feature | Topstep | Sway Funded |
| Customer Support Hours | Live chat, email, phone, SMS, WhatsApp | 24/7 live chat, email, and ticket system; 10+ languages |
| Response Time | Same-day during business hours | Not specified |
| Live Coaching | Daily live trading sessions and webinars | Weekly webinars; one-on-one coaching available for funded traders |
| Trading Community | 150,000+ Discord members | Community Discord server for peer learning and support |
| Educational Resources | Multiple tracks, courses, podcasts | Webinars, tutorials, and trading guides |
| Success Stories | $1B+ in cumulative payouts | 70,000+ traders across 150+ countries (per Sway homepage) |
Conclusion and Final Recommendation |
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|---|---|---|
| Key Element | Topstep | Sway Funded |
| Strengths | Longest live track record in futures, no daily loss limit, EAs permitted, $1B+ payouts, deep education ecosystem | Three evaluation routes (Rapid, Regular, Instant), refundable challenge fees, scaling to $200K, multi-asset CFD coverage, 24/7 multi-language support |
| Weaknesses | Monthly subscription compounds; TopstepX-only platform; CME futures only | Newer firm (founded 2024); proprietary platforms only – no MT4, MT5, or TradingView; crypto-only payouts with 1.5% fee (per Traders Union) |
| Best For | Futures traders who want pedigree and the most established US-futures evaluation experience | Multi-asset CFD traders who want choice of evaluation route, refundable fees, and the option of skipping evaluation entirely with an Instant account |
| Final Grade | 4.4/5 | Not specified |
| Discount Codes | – | Coupon Code |
| Review | Read full review | Read full review |
FAQ
Do Topstep and Sway Funded offer the same instruments?
No. Topstep is CME Group futures only – index, energy, metals, and currency futures (ES, NQ, CL, GC and similar). Sway Funded is a multi-asset CFD firm covering forex, indices, commodities, cryptocurrencies, and selected US and international stocks on its proprietary Liquid Charts and Liquid Charts Pro platforms.
What evaluation routes does Sway Funded offer?
Sway runs three challenge types: Rapid (single-phase), Regular (two-phase with 10% / 5% targets and 5% daily / 10% max drawdown), and Instant (no evaluation – direct funded access). Topstep, by contrast, uses a single-phase Trading Combine® with a 6% target and a trailing maximum loss limit instead of a fixed daily drawdown.
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 Sway Funded, payouts are processed in cryptocurrency (BTC, ETH, USDT) typically within 24 hours, with no required holding period; a 1.5% processing fee applies per Traders Union, and the minimum withdrawal is $50.
Can I use Expert Advisors (EAs)?
At Topstep, EAs are fully permitted with no specific restrictions. At Sway Funded, EA support is not specified, but the firm explicitly prohibits martingale, grid trading, arbitrage, latency exploitation, and news sniping across all challenge and funded accounts.
What platforms are supported?
Topstep restricts all new accounts to TopstepX since July 2025 – NinjaTrader, TradingView, and other prior platforms are retired for new signups. Sway Funded uses its own Liquid Charts and Liquid Charts Pro suite exclusively; MT4, MT5, and TradingView are not supported.
Is Topstep still the bigger name for US-futures traders?
Yes. Topstep remains the benchmark prop firm for CME futures traders with over $1 billion in cumulative payouts, a deep education ecosystem, and 150,000+ Discord members. Sway Funded is the better fit for traders who want multi-asset CFD coverage, refundable challenge fees, or the choice of an Instant funded account.
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.
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