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
Firm Overview
Topstep (topstep.com) was founded in 2012 by Michael Patak in Chicago. Oldest major futures prop firm. Trading Combine: 1-step evaluation ($49-$149/mo). Account sizes: $50K (6% target = $3K, max loss $3K), $100K ($6K target, $3K max loss), $150K ($9K target, $4.5K max loss). After passing, pay $149 activation fee for Express Funded Account. After 5 payouts from Express, eligible for Live Funded Account where real money is deployed.
TopstepX Platform
From July 7, 2025, all new Trading Combines are exclusively on TopstepX — Topstep’s proprietary platform. TopstepX features TradingView charts, The Tilt indicator, built-in risk tools (personal daily loss limit, profit lock), and commission-free trading. No daily loss limit on TopstepX accounts created after August 25, 2024. Pass rates reportedly 86% higher on TopstepX vs third-party platforms per Topstep’s own data. Mac, iOS, and mobile: TopstepX is the only fully supported option.
Key Rules
- 50% consistency rule: no single day can exceed 50% of total profits
- EOD trailing drawdown (not intraday)
- No bots/automation
- Copy trading: permitted own accounts, NOT into Live Funded accounts
- All positions must close before daily market reset
- Minimum 5 trading days to pass combine
Company Information
- Founded: 2012 | Founder: Michael Patak | Chicago, Illinois
- Accounts: $50K/$100K/$150K | Futures only | From $49/mo
- Split: 100% first $10K, then 90/10 | $149 activation fee
- Platform: TopstepX only (new accounts from July 2025)
- Trustpilot: 13,676 reviews | 140+ countries
Key Features at a Glance
Longest-Running US Futures Prop Firm
Founded in 2012, Topstep is the oldest major futures prop firm in the US market, with over 13,600 Trustpilot reviews and traders operating in 140+ countries. Its longevity and scale give it a track record that newer entrants cannot replicate. The firm has paid out tens of millions of dollars to funded traders over its history.
Two-Stage Funding Path
Topstep operates a unique two-stage path to live capital. After passing the Trading Combine, traders first enter an Express Funded Account (simulated capital). After generating 5 successful payouts from the Express account, they become eligible for a Live Funded Account, where Topstep deploys real money to back the trader. This progression distinguishes Topstep from firms that only offer simulated-capital funded accounts.
Commission-Free Trading on TopstepX
Topstep’s proprietary platform, TopstepX, offers commission-free futures trading. Combined with the removal of the daily loss limit on accounts created after August 2024, TopstepX provides a highly competitive cost-and-rules environment for active futures traders.
Account Sizes
Topstep offers three account sizes for the Trading Combine evaluation, with monthly subscription pricing:
| Account Size | Monthly Fee | Profit Target | Max Loss |
|---|---|---|---|
| $50,000 | ~$49/month | $3,000 (6%) | $3,000 |
| $100,000 | ~$99/month | $6,000 (6%) | $3,000 |
| $150,000 | ~$149/month | $9,000 (6%) | $4,500 |
After successfully passing the Trading Combine, a one-time $149 activation fee is required to convert to an Express Funded Account. There are no further monthly fees after activation — the trader keeps 100% of the first $10,000 in profits, then 90% thereafter.
Trading Platforms
As of July 7, 2025, all new Topstep Trading Combines are exclusively available on TopstepX — Topstep’s proprietary platform:
TopstepX (Primary Platform)
- Built-in TradingView charts — professional charting directly within the platform with no separate subscription required
- The Tilt indicator — Topstep’s proprietary tool for identifying when a trader’s emotional state is affecting performance
- Personal daily loss limit — optional self-imposed risk cap traders can set to prevent over-trading on bad days
- Profit lock — allows traders to protect a portion of their gains by setting a floor the account cannot drop below
- Commission-free trading — no per-contract commission charges on TopstepX accounts
- Cross-device: available on Mac, iOS, and mobile — the only Topstep platform with cross-device compatibility
Third-Party Platforms (Existing Accounts Only)
Traders who opened accounts before July 7, 2025 may continue using third-party platforms such as NinjaTrader, Sierra Chart, Quantower, and other Rithmic-connected tools. New accounts can only access TopstepX.
Financial Markets
Topstep is a futures-only prop firm. All evaluation and funded trading is conducted on US futures exchanges, primarily CME Group and CBOT:
- Equity index futures — ES (E-mini S&P 500), NQ (E-mini NASDAQ 100), YM (E-mini Dow Jones), RTY (E-mini Russell 2000) and Micro contracts (MES, MNQ, MYM, M2K)
- Energy futures — CL (Crude Oil WTI), NG (Natural Gas)
- Metals futures — GC (Gold), SI (Silver)
- Currency futures — major CME FX contracts including 6E (Euro), 6B (British Pound), 6J (Japanese Yen)
- Agricultural futures — ZC (Corn), ZS (Soybeans), ZW (Wheat)
- Interest rate futures — ZB (30-Year T-Bond), ZN (10-Year Note)
Trading Combine Specifications
The following table summarises the full parameters for Topstep’s Trading Combine evaluation:
| Parameter | Value |
|---|---|
| Evaluation Type | Trading Combine (1-Step) |
| Account Sizes | $50K / $100K / $150K |
| Profit Target | 6% of account size |
| Max Loss | $3,000 (50K/100K) / $4,500 (150K) |
| Drawdown Type | EOD trailing (no intraday limit on TopstepX) |
| Minimum Trading Days | 5 days |
| Time Limit | None |
| 50% Consistency Rule | No single day may exceed 50% of total profits |
| Automation/Bots | Not permitted |
| Copy Trading | Permitted into Combine; NOT into Live Funded Account |
| Position Close Requirement | All positions must close before daily market reset |
| Activation Fee (post-pass) | $149 one-time for Express Funded Account |
Profit Split and Funding Path
Express Funded Account
After passing the Trading Combine and paying the $149 activation fee, traders receive an Express Funded Account. This is a simulated-capital account with the same size as the Combine account. The profit split is 100% on the first $10,000 of profits, then 90/10 thereafter. There is no monthly fee during the Express phase.
Live Funded Account
After generating 5 payouts from the Express Funded Account, traders become eligible for a Live Funded Account — where Topstep deploys real institutional capital to back the trader’s performance. The Live Funded Account retains the same profit split structure and represents a genuinely rare step into live prop trading that most competitor firms do not offer.
Payout Methods
Topstep processes payouts from Express and Live Funded Accounts on a regular schedule:
- ACH bank transfer — standard US domestic transfer for US-based traders
- Wire transfer — available for international traders in supported countries
- PayPal — available in eligible regions as an alternative electronic payout method
- Minimum payout amount — varies by account size; check current minimum in the Topstep dashboard
- 100% of the first $10,000 in profits goes entirely to the trader; 90% thereafter
- Payouts processed promptly upon approval — Topstep has a well-established payout history backed by 13,600+ Trustpilot reviews
Trading Commissions
TopstepX offers commission-free trading — a significant advantage over firms that charge per-contract commissions. This applies to accounts on the TopstepX platform:
- TopstepX accounts (new from July 2025) — commission-free futures trading on all available instruments
- Legacy accounts on third-party platforms — standard Rithmic per-contract commissions apply, including exchange fees and NFA regulatory fees
- No data feed subscription required — real-time market data is included for all Topstep account holders
- TradingView charts included within TopstepX — no separate TradingView subscription needed
For active traders, commission-free trading on TopstepX can represent a meaningful cost saving compared to competitor firms, particularly at higher trading volumes where per-contract charges accumulate quickly.
IP Rules
- No bots or automated trading systems — fully manual trading is required on all Topstep accounts
- Copy trading is permitted within the Combine and Express Funded Account stages only — strictly prohibited on the Live Funded Account
- All positions must be closed before the daily market reset each trading day
- 50% consistency rule: no single trading day’s profit may exceed 50% of total cumulative profits
- Account credentials must not be shared — each account is for the sole use of the registered trader
- The two-stage funding structure (Express then Live) requires sustained performance — single outsized payout requests are subject to review
Unique Features
Live Funded Account — Real Capital
Topstep’s Live Funded Account is genuinely rare. After 5 payouts from the Express Funded Account, the firm deploys real institutional capital behind the trader. Most prop firms operate exclusively on simulated accounts — Topstep’s progression to live capital represents a meaningful step up in both responsibility and opportunity for traders who earn their way through the system.
The Tilt Indicator
Topstep’s proprietary Tilt indicator, built into TopstepX, helps traders identify when emotional decision-making is affecting their performance. By surfacing behavioural patterns that often precede over-trading or revenge trading, it adds a psychological management layer that most trading platforms and prop firms completely ignore.
Scale and Community
With over 13,600 Trustpilot reviews, 140+ countries served, and more than a decade of operations, Topstep has one of the largest and most active trading communities of any prop firm globally. Its educational resources, webinars, and community forums provide ongoing development support well beyond the funded account itself.
Why Choose Topstep?
Topstep is the right choice for futures traders who value a proven, long-established firm with a clear path to live capital deployment, commission-free trading, and strong community support. Its 2012 founding date and 13,600+ Trustpilot reviews make it the most credentialled futures prop firm available.
- Founded 2012 — the oldest major futures prop firm in operation
- Commission-free trading on TopstepX — no per-contract charges
- 100% first $10K, then 90/10 split — competitive long-term structure
- Live Funded Account available after 5 Express payouts — real money backing
- The Tilt indicator — built-in performance psychology tool
- 13,600+ Trustpilot reviews, 140+ countries — unmatched community scale
- No daily loss limit on TopstepX — full intraday session flexibility
The main limitations are the $149 post-pass activation fee, the ban on automation (no EAs), and the restriction on copy trading into Live Funded Accounts. Traders who rely on automated strategies should consider a firm with EA support such as Leeloo Trading or OneUp Trader instead.
Frequently Asked Questions
How long does it take to get funded?
Topstep’s Trading Combine requires a minimum of 5 trading days to pass. There is no time limit, so you can take as long as needed to reach the 6% profit target without breaching the max loss. After passing, you pay a $149 activation fee and receive an Express Funded Account. To progress to a Live Funded Account (real money), you need to generate 5 successful payouts from the Express account first.
Can I hold positions over the weekend?
Topstep requires all positions to be closed before the daily market reset each trading day. This means no overnight or weekend holds are permitted. All trades must be intraday. This is a hard rule on both the Trading Combine and funded accounts, making Topstep unsuitable for swing traders who need to hold positions across sessions.
What happens if I break a rule?
Breaching the max loss during the Trading Combine ends that evaluation attempt. Your monthly subscription continues and you can start a new Combine immediately in the same billing period. On a funded Express or Live account, a drawdown breach terminates the funded account. You would need to re-subscribe and pass a new Trading Combine to receive a replacement funded account.
Can I trade news events?
There is no explicit news trading ban on Topstep accounts. Traders can hold positions through high-impact economic releases. However, the daily market reset rule means all positions must be closed by a set time each day, which naturally limits exposure to after-hours or overnight news events. High-volatility releases can move the EOD trailing drawdown floor significantly if positions are held into the close.
How often can I withdraw profits?
Topstep processes payouts on a regular schedule from Express and Live Funded Accounts. The first $10,000 in profits is kept entirely by the trader (100% split), with 90% thereafter. There is no mandatory waiting period beyond completing the Trading Combine — payouts can be requested as soon as profits are generated on the funded account.
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