Topstep vs TradeDay – Elite Prop Firms Comparison
Introduction
Topstep and TradeDay are both Chicago-rooted futures-only prop firms, which makes this a genuine head-to-head rather than an apples-to-oranges mismatch. Topstep was founded in 2012 by Michael Patak and is widely credited with inventing the modern prop firm evaluation model. It has paid out over one billion dollars to funded traders and carries a 3.4/5 Trustpilot rating from more than 13,800 reviews. TradeDay, launched in 2020 by James Thorpe and Steve Miley, is the younger challenger. It has built a reputation on generous payout timing – day-one withdrawals with no consistency requirement – and flexible evaluation structures, including Intraday, End-of-Day, and Static drawdown variants. Both firms work exclusively with CME Group futures, target the same account sizes ($50K, $100K, $150K), and set a 6% profit target. The main fork in the road is platform breadth, drawdown mechanics, and profit-split structure. Topstep offers 100% of the first $10,000 in cumulative profits; TradeDay offers 80% from day one with a path to 95%. If you want the most established name in futures funding, Topstep is the reference point. If you want more platform choice and earlier access to profits, TradeDay deserves serious consideration.
Quick Facts
| Feature | Topstep | TradeDay |
|---|---|---|
 |  | |
| Founded | 2012 | — |
| Profit Split | 100% first $10,000, then 90/10 | 50/50 below $4,000; 80/20 above $4,000; 90/10 at Funded Live |
| Maximum Account Size | $150,000 | — |
| Evaluation Phases | 1 | 1 |
| Trustpilot Rating | 3.4 | 4.6 |
| Expert Grade | 9 | 8.9 |
Program Types
| Program | Topstep | TradeDay |
|---|---|---|
| Entry Level Program | Yes | Yes |
| Advanced Program | — | Yes |
| Scaling Options | No | Yes |
| Demo Account | No | Yes |
Rules & Assessment
| Criteria | Topstep | TradeDay |
|---|---|---|
| Profit Target | 6% | $10,000 gross ceiling (Quick Pay) |
| Maximum Drawdown | Trailing MLL: $2,000-$4,500 | $2,000/$3,000/$4,500 by account size; trailing, freezing at starting balance |
| Minimum Trading Days | 5 | 5 |
| News Trading | Yes | No |
Fees & Pricing
| Option | Topstep | TradeDay |
|---|---|---|
| $10K Account | — | — |
| $25K Account | — | — |
| $50K Account | $49 | — |
| $100K Account | $99 | 115-160/month |
| $200K Account | — | — |
| Refund Policy | — | No refunds after purchase |
| Coupons / Discount | Topstep discount | TradeDay discount |
Platforms & Markets
| Feature | Topstep | TradeDay |
|---|---|---|
| Trading Platforms | TopstepX | — |
| Forex | Yes | No |
| Stocks | No | No |
| Indices | Yes | — |
| Commodities | Yes | No |
| Cryptocurrencies | No | No |
| Bonds | Yes | — |
| EA/Algo Trading | Yes | — |
Payout
| Feature | Topstep | TradeDay |
|---|---|---|
| Payout Terms | Bi-weekly via ACH, wire, or Rise; $50 minimum | Minimum $250 |
| See all prop firm payouts → | ||
Verdict
| Key Element | Topstep | TradeDay |
|---|---|---|
| Strengths | Industry pioneer, generous first $10K profit split, no time limits, EAs permitted, no daily loss limit, $1B+ paid to traders | No daily drawdown, earned split, transparent pass rates (36%), trader-friendly consistency rule, Day One payouts |
| Weaknesses | Monthly subscription fees compound, $149 activation fee, TopstepX platform exclusive, futures-only, trailing MLL can catch intraday profit-takers | $10,000 profit ceiling confiscates excess, 50/50 starting split, metals banned, Quick Pay converts to intraday when funded, monthly subscription model |
| Best For | Serious futures traders seeking established firm with forgiving evaluation | Futures traders avoiding daily loss limits; transparent disclosure valued |
FAQ
Which firm is better for futures day traders?
Both firms are futures-only, so either works for day trading. Topstep’s advantage is the 100% profit on the first $10,000 – useful for traders who hit their targets early. TradeDay’s advantage is day-one payout eligibility with no consistency requirement, so profits can be withdrawn faster without a holding period.
Does Topstep or TradeDay have a daily loss limit?
Neither firm publishes a fixed daily loss limit. Topstep’s only loss rule is the End-of-Day Maximum Loss Limit, which trails from the highest EOD balance and freezes at the starting balance. TradeDay applies only a trailing or static maximum drawdown with no separate per-day cap published.
Can I use automated trading (EAs) at both firms?
Yes at Topstep – EAs are explicitly permitted with no stated restrictions. TradeDay does not publish an explicit EA ban, but traders should confirm specific automation types with TradeDay support before use.
Which firm offers more platform choices?
TradeDay offers significantly more options: Tradovate, NinjaTrader 8, TradingView, and Jigsaw. Topstep requires all new Trading Combines to use TopstepX exclusively – existing NinjaTrader or TradingView accounts can continue, but new challenges and resets must use TopstepX.
Do both firms allow overnight and weekend holding?
Topstep permits overnight and weekend holding on most CME futures contracts. TradeDay does not allow overnight holding during high-impact news events; standard overnight holding outside those windows is permitted across the evaluation and funded stages.
How was this 2 companies Comparison Created?
This comparison was compiled using published review data available on JoinProp for each firm. All figures – fees, profit targets, drawdown limits, payout structures – are sourced directly from each firm’s review page. Where a detail is not publicly disclosed by the firm, the cell reads “Not specified.” Verify current terms directly with Topstep and TradeDay before purchasing a challenge.
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