Topstep – Firm Review
- Elite backing for aspiring market professionals
- Proven track helping traders succeed
- Zero personal capital requirements needed
- Access substantial institutional trading resources
- Keep majority earnings from successful trades
Company Overview
Topstep is a Chicago-based proprietary trading firm founded in 2012 that offers aspiring traders the opportunity to trade with firm capital without risking their personal funds. Through its innovative Trading Combine® evaluation process, Topstep identifies skilled traders who can consistently follow rules and generate profits. The company focuses primarily on futures trading, providing a structured pathway for traders to prove their abilities through a two-step evaluation before accessing funded accounts.
What sets Topstep apart is its commitment to trader development, offering educational resources, coaching, and a supportive community. The firm has funded thousands of traders worldwide and paid out millions in profits. With transparent rules, no time limits on challenges, and the elimination of profit targets in 2022, Topstep continues to evolve its offering to create more opportunities for traders to succeed with institutional capital while maintaining robust risk management protocols.
Key Features at a Glance
Challenge Fees
- $165 monthly – Standard Combine for $50K account size ($150K max)
- $325 monthly – Standard Combine for $100K account size ($200K max)
- $375 monthly – Standard Combine for $150K account size ($300K max)
- $165 monthly – Professional Combine for $50K account size ($150K max)
- $325 monthly – Professional Combine for $100K account size ($200K max)
Account Types
- Standard Combine: Traditional evaluation with slightly tighter trading parameters, suitable for most trading styles
- Professional Combine: Designed for experienced traders with looser parameters and higher profit potential
- Funded Account: Live trading account with firm capital after successfully completing both evaluation phases
Profit Split Options
- 80/20 Split: Traders receive 80% of profits generated in funded accounts, with Topstep taking 20%
- 90/10 Elite Split: Available to traders who reach specific performance milestones, offering enhanced 90% profit share
- 100% Loss Coverage: Topstep covers all trading losses, meaning traders never have to repay losses from funded accounts
Account Sizes
- $50,000: Entry-level account with $150K scaling potential, lowest monthly fee
- $100,000: Mid-tier account with $200K scaling potential, suitable for intermediate traders
- $150,000: Largest account offering with $300K scaling potential (Standard Combine only)
Trading Platforms
- NinjaTrader: Advanced platform with robust charting and automation capabilities
- TradingView: Web-based platform with social features and extensive indicators
- TSTrader: Topstep’s proprietary trading platform with specialized features for futures trading
- Jigsaw: Advanced order flow trading platform with specialized DOM functionality
Financial Markets
- CME Futures: Full access to all CME futures contracts including ES, NQ, CL, GC, and more
- Energy Futures: Trade crude oil, natural gas, and other energy contracts
- Metal Futures: Access to gold, silver, and copper contracts
- Currency Futures: Trade major forex pairs through futures contracts
- Agricultural Futures: Access to corn, wheat, soybeans, and other agricultural markets
Challenge Programs Detail
Standard Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | None (no longer required) | None (no longer required) |
| Daily Drawdown | $1,000-$3,000 (account size dependent) | $1,000-$3,000 (account size dependent) |
| Maximum Drawdown | $2,000-$6,000 (account size dependent) | $2,000-$6,000 (account size dependent) |
| Minimum Trading Days | 5 days | 5 days |
Professional Challenge
| Feature | Challenge Phase | Verification Phase |
|---|---|---|
| Duration | No time limit | No time limit |
| Profit Target | None (no longer required) | None (no longer required) |
| Daily Drawdown | $1,500-$3,500 (account size dependent) | $1,500-$3,500 (account size dependent) |
| Maximum Drawdown | $3,000-$7,000 (account size dependent) | $3,000-$7,000 (account size dependent) |
| Minimum Trading Days | 5 days | 5 days |
Challenge Specifications
- Max Allocation: Up to $300,000 through scaling program (starting with $150K account)
- Scaling: Account size can increase by 25% when trader reaches 10% account growth
- Trading Competitions: Regular competitions with cash prizes for funded traders
- Free Trial: 14-day free trial available for first-time customers
- Profit Targets: Eliminated in 2022 – no profit targets required to pass challenges
- Drawdown Structure:
- Daily: Loss limits reset each trading day (varies by account size and program)
- Maximum: Total account drawdown limit across the entire evaluation
- Trailing: No trailing drawdown – fixed loss limits from starting account balance
Trading Rules and Requirements
- No holding positions during major economic news events (specific exceptions apply)
- Maximum allowed contracts vary by account size ($50K: 5 contracts, $100K: 10 contracts, $150K: 15 contracts)
- No overnight holdings of certain volatile instruments (e.g., natural gas)
- Minimum 5 trading days required in each evaluation phase
- No trading on the last 30 minutes of the session for most products
- No automated trading or EAs allowed during evaluations
- No sharing accounts or trading from multiple locations
Company Information
- Founded in 2012 by Michael Patak in Chicago, Illinois
- Regulated under US financial regulations
- Partners with major futures brokers for execution
- Over $3 million in payouts to funded traders (as of recent data)
- Headquartered in Chicago with global remote traders
- 24/5 customer support via live chat, email, and phone
Payout Methods
- PayPal (1-3 business days)
- Bank Transfer/ACH (3-5 business days)
- Wire Transfer (2-3 business days)
- Check (7-14 business days)
Trading Commissions
- All trading costs covered during evaluation phases
- Exchange fees and commissions deducted from funded account profits
- CME data fees waived during evaluation periods
- Standard exchange and broker commission rates apply to funded accounts
- No hidden fees or additional charges for profitable traders
IP Rules
- Only one trading location allowed per account (fixed IP address)
- VPN usage generally not permitted during evaluations
- Travel exceptions available with prior approval
- Mobile trading allowed from authorized devices
- Account sharing strictly prohibited
Unique Features
Educational Resources
- Daily market analysis from professional traders
- Weekly coaching sessions with experienced mentors
- Extensive video library with trading strategies and techniques
- Trading psychology workshops and resources
Community Features
- Active Discord community with thousands of traders
- Weekly trader spotlights highlighting successful strategies
- Live trading rooms with professional traders
- Regular trader meetups in major cities
Trading Tools
- Proprietary risk analytics dashboard
- Performance tracking and metrics
- Trading journal templates and guidance
- Trade replay and analysis tools
Why Choose Topstep?
Topstep stands out in the prop trading industry with its trader-focused approach that emphasizes development and long-term success rather than just short-term profits. Their elimination of profit targets has made the program more accessible while maintaining professional risk management standards.
Key advantages include:
- Risk-free trading with firm capital (no personal capital at risk)
- No time limits on challenge completion
- Generous 80/20 profit split (with potential for 90/10 split)
- Comprehensive educational resources and community support
- Account scaling opportunities up to $300,000
- Fast withdrawals of trading profits (as quick as 1-3 days)
- Proven track record of paying traders
- Full transparency with clear rules and requirements
Frequently Asked Questions
How long does it take to get funded?
The time to get funded varies by trader. With Topstep’s removal of profit targets and time limits, traders can progress at their own pace. On average, successful traders complete both evaluation phases within 2-8 weeks, but there’s no pressure to rush the process. Some traders pass in as little as 10 trading days (5 days for each phase), while others take more time to refine their strategies.
Can I hold positions over the weekend?
Yes, you can hold positions over the weekend for most products. However, there are specific restrictions on certain volatile instruments like natural gas. For standard futures like ES, NQ, and most other CME products, weekend holds are permitted as long as you maintain sufficient margin and stay within your account’s risk parameters. Always check the specific rules for your instrument before holding weekend positions.
What happens if I break a rule?
Breaking a rule during your evaluation typically results in a rule violation. Topstep operates on a “three strikes” policy for most rule violations. Minor violations will result in warnings, while major violations (like significantly exceeding position limits or consistent pattern day trading rule violations) may result in immediate evaluation failure. Once funded, rule adherence is still required, but Topstep will generally work with traders to correct issues before taking more severe action.
Can I trade news events?
Trading during scheduled major economic news events is generally restricted. Specific high-impact events like FOMC announcements, Non-Farm Payrolls, and CPI releases require closing positions at least 10 minutes before the announcement and waiting 10 minutes after to re-enter. However, you can trade during most minor news events. Topstep provides a calendar of restricted news events to help traders plan accordingly.
How often can I withdraw profits?
In funded accounts, traders can request withdrawals once per month. The minimum withdrawal amount is $100, and withdrawals are processed within 1-5 business days depending on your chosen payment method. Profit withdrawals are calculated after deducting trading commissions and exchange fees. There is no maximum withdrawal limit – traders can withdraw 80% of all their generated profits (or 90% for Elite traders).
