Top Step – Firm Review
- Elite platform for aspiring market professionals
- Unlock finance careers without capital barriers
- Swift advancement path to live accounts
- Generous profit sharing structure available
- Personalized coaching from industry veterans
Company Overview
Topstep is a Chicago-based proprietary trading firm founded in 2012 that offers a unique path to becoming a funded trader without risking your own capital. Their innovative Trading Combine® process allows traders to prove their skills in a simulated environment before receiving access to real capital. Traders who successfully complete the Combine™ and subsequent Funded Trader Preparation™ can receive funding ranging from $50,000 to $200,000 to trade futures markets.
What sets Topstep apart is their focus on risk management and trader development. Unlike traditional prop firms, Topstep emphasizes creating sustainable trading careers through proper risk management protocols. They provide comprehensive educational resources, coaching from professional traders, and a supportive community environment to help traders succeed. With a profit-split model that allows traders to keep up to 100% of their first $10,000 in profits and 80% thereafter, Topstep offers a compelling opportunity for both novice and experienced traders looking to trade professionally without significant personal capital risk.
Key Features at a Glance
Challenge Fees
- $50,000 Account – $165 per month – Entry-level account with balanced risk parameters
- $100,000 Account – $325 per month – Mid-tier account with increased trading capacity
- $150,000 Account – $375 per month – Advanced account with higher profit potential
- $200,000 Account – $425 per month – Professional-level account with maximum capital allocation
Account Types
- Trading Combine®: Initial evaluation phase with simulated funds where traders must demonstrate consistent profitability
- Funded Trader Preparation™: Second verification phase to confirm trading consistency before receiving real capital
- Funded Account: Live trading account with real capital where traders can withdraw their profits
Profit Split Options
- 100% of first $10,000 in profits: Traders keep all profits up to the initial $10,000 threshold
- 80% of profits beyond $10,000: After reaching the initial threshold, traders receive 80% of all additional profits
- Performance-based scaling: Opportunities to increase account size based on consistent performance
Account Sizes
- $50,000 Account: Recommended for beginners with profit target of $3,000 in the Combine phase
- $100,000 Account: Intermediate traders with profit target of $6,000 in the Combine phase
- $150,000 Account: Advanced traders with profit target of $9,000 in the Combine phase
- $200,000 Account: Professional traders with profit target of $12,000 in the Combine phase
Trading Platforms
- TSTrader: Topstep’s proprietary platform optimized for futures trading
- NinjaTrader: Advanced charting and analysis platform with automated trading capabilities
- TradingView: Web-based charting platform with social networking features
- Other supported platforms: TradeStation, MultiCharts, and more through their data feed integration
Financial Markets
- Futures: Primary focus including E-mini S&P 500, Crude Oil, Gold, and other CME/CBOT products
- Micro E-minis: Smaller contract sizes ideal for traders with smaller accounts
- Treasury Futures: Including 10-Year Notes, 30-Year Bonds, and other interest rate products
- Agricultural Futures: Including grains, livestock, and other commodity derivatives
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | Unlimited | Unlimited |
| Profit Target | $3,000-$12,000 (based on account size) | $1,500-$6,000 (based on account size) |
| Daily Drawdown | $1,000-$4,000 (based on account size) | $1,000-$4,000 (based on account size) |
| Maximum Drawdown | $2,000-$8,000 (based on account size) | $2,000-$8,000 (based on account size) |
| Minimum Trading Days | 10 days | 5 days |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | Unlimited | Unlimited |
| Profit Target | $5,000-$20,000 (based on account size) | $2,500-$10,000 (based on account size) |
| Daily Drawdown | $1,500-$6,000 (based on account size) | $1,500-$6,000 (based on account size) |
| Maximum Drawdown | $3,000-$12,000 (based on account size) | $3,000-$12,000 (based on account size) |
| Minimum Trading Days | 10 days | 5 days |
Challenge Specifications
- Max Allocation: Up to $200,000 in trading capital for qualified traders
- Scaling: Performance-based opportunity to increase account size up to 25% after maintaining consistent profitability
- Trading Competitions: Regular contests with cash prizes and special account upgrades for top performers
- Free Trial: 14-day demo account available to test the platform before committing
- Profit Targets: Scaled based on account size, ranging from $3,000 for $50K accounts to $12,000 for $200K accounts
- Drawdown Structure:
- Daily: Limited to 2% of account size (e.g., $1,000 on a $50K account)
- Maximum: Limited to 4% of account size (e.g., $2,000 on a $50K account)
- Trailing: Implemented once profits exceed threshold, protecting gains while allowing continued trading
Trading Rules and Requirements
- No overnight holding of positions during major economic announcements
- Trading hours restricted to standard market hours (no overnight holds on first trading day)
- No trading during the first minute after major economic releases
- Maximum contract size limits based on account size
- No trading of prohibited instruments (specified in platform)
- Must meet minimum trading day requirements (10 days for Challenge, 5 days for Verification)
- No same-day resets of trailing drawdown limits
Company Information
- Founded in 2012 by professional trader Michael Patak
- Headquartered in Chicago, Illinois, USA
- Over 70,000 traders have participated in Topstep’s programs
- Has paid out over $15 million in trader profits since inception
- Regulated by financial authorities and maintains transparent business practices
- Customer support available via chat, email, and phone during market hours
Payout Methods
- ACH/Direct Bank Transfer (1-3 business days)
- Wire Transfer (1-2 business days)
- PayPal (24-48 hours)
- Check by mail (5-7 business days)
- Monthly withdrawal schedule with processing beginning on the 15th of each month
Trading Commissions
- Standard exchange fees apply to all trades
- CME E-mini S&P 500: $4.08 round-turn commission
- Micro E-mini contracts: $1.42 round-turn commission
- Crude Oil futures: $3.58 round-turn commission
- No markup on market data fees or platform fees for funded traders
IP Rules
- Multiple IP addresses from different locations allowed with prior approval
- VPN usage permitted with registration of IP addresses
- Mobile trading allowed on registered devices
- Account sharing strictly prohibited and will result in termination
- IP address changes must be reported to compliance department
Video Review
Top Step Review
Comprehensive review of Top Step trading services
Unique Features
Educational Resources
- Daily market analysis from professional traders
- Weekly coaching sessions with experienced mentors
- Extensive video library covering trading strategies and risk management
- Trading psychology workshops to develop mental discipline
Community Support
- Active trader community with over 10,000 members
- Regular webinars featuring successful funded traders
- Trader forums for strategy discussion and market analysis
- Dedicated Discord server for real-time communication
Why Choose Top Step?
Topstep stands out among prop trading firms by offering a true path to becoming a professional trader without risking your own capital. Their evaluation process is designed to identify and develop disciplined, consistent traders rather than just test for technical skills.
Key advantages include:
- No personal capital at risk once funded – Topstep covers all trading losses
- Industry-leading profit split with 100% of first $10,000 in profits going to the trader
- No time limit to complete the Combine™ or Funded Trader Preparation™
- Comprehensive educational resources and coaching from professional traders
- Supportive community environment focused on trader development
- Scaling opportunities to increase account size based on performance
- Transparent rules and evaluation criteria with no hidden fees
Frequently Asked Questions
How long does it take to get funded?
The time to get funded varies depending on your trading skill and consistency. There is no time limit to complete the Trading Combine® or Funded Trader Preparation™ phases. Some traders achieve funding in as little as 2-3 weeks, while others may take several months. The key is to focus on consistent, disciplined trading rather than rushing through the process.
Can I hold positions over the weekend?
Yes, funded traders can hold positions over the weekend after their first trading day. However, during the Trading Combine® and Funded Trader Preparation™ phases, you must follow specific rules regarding overnight positions, especially around major economic announcements. Always check the current rules in your account dashboard, as these guidelines may be updated periodically.
What happens if I break a rule?
If you break a rule during the Trading Combine® or Funded Trader Preparation™, it typically results in a reset of your account, requiring you to start that phase again. For funded traders, rule violations can result in warnings, profit deductions, or account termination depending on the severity. Topstep has a compliance team that reviews all trading activity to ensure rule adherence.
Can I trade news events?
Yes, you can trade during news events, but with specific restrictions. You cannot hold positions overnight during major economic announcements, and you must wait at least one minute after a major economic release before placing trades. These rules are designed to protect both you and Topstep from extreme volatility that often occurs immediately after significant announcements.
How often can I withdraw profits?
Funded traders can withdraw profits once per month. The withdrawal process begins on the 15th of each month for all profits generated in the previous month. Traders must maintain their account balance above the “trailing drawdown” threshold to be eligible for withdrawals. There is no minimum withdrawal amount, and Topstep covers all processing fees for standard payment methods.
