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
Firm Overview
Topstep was founded in 2012 by Michael Patak in Chicago — the birthplace of futures trading. It literally invented the prop firm evaluation model: before Topstep, there was no concept of paying a monthly fee to prove yourself in a simulated account and earn real capital. Every prop firm operating today has copied this structure. Over a decade later, Topstep remains the most trusted name in futures funding, with over $1 billion paid out to traders and a 4.3/5 rating from 11,500+ Trustpilot reviews.
In 2023, Topstep moved from a two-step evaluation to a single-phase Trading Combine®. In July 2025, it made TopstepX its exclusive platform for all new Trading Combines — retiring NinjaTrader, TradingView, and other platform options for new signups. Existing active accounts on those platforms can continue, but all new challenges and resets require TopstepX.
Trading Combine® Plans
| Plan | Account Size | Monthly Fee (Standard Path) | Monthly Fee (No Activation Fee Path) | Profit Target | Max Loss Limit | Max Contracts |
|---|---|---|---|---|---|---|
| Small Combine | $50,000 | $49 + $149 activation on pass | $109, no activation fee | $3,000 (6%) | $2,000 | 5 |
| Medium Combine | $100,000 | $99 + $149 activation on pass | $159, no activation fee | $6,000 (6%) | $3,000 | 10 |
| Large Combine | $150,000 | $149 + $149 activation on pass | $209, no activation fee | $9,000 (6%) | $4,500 | 15 |
Two paths available: Standard Path (lower monthly, pay $149 activation after passing) or No Activation Fee Path (higher monthly, zero activation fee when funded). Pricing updated February 5, 2026.
Evaluation Specifications
| Parameter | Specification |
|---|---|
| Evaluation Style | Single-phase Trading Combine® |
| Account Sizes | $50,000 / $100,000 / $150,000 |
| Profit Target | 6% — $3,000 / $6,000 / $9,000 |
| Maximum Loss Limit | EOD trailing — $2,000 / $3,000 / $4,500 |
| Minimum Trading Days | 5 |
| Consistency Rule | Best single day ≤ 50% of total profits at payout |
| Time Limit | None — trade at your own pace |
| Expert Advisors / Automation | Fully permitted |
| News Trading | Permitted (no restrictions) |
| Overnight & Weekend Holding | Permitted on most futures contracts |
| Contract Limits | 5 / 10 / 15 maximum contracts |
| Platform | TopstepX (mandatory for new accounts from July 2025) |
| Free Monthly Reset | 1 reset credit earned per monthly renewal |
Drawdown Structure
- Maximum Loss Limit (MLL): Trailing drawdown calculated from the highest end-of-day account balance. The floor rises as your EOD balance increases — it does NOT trail intraday.
- No daily drawdown limit: The MLL is the only loss rule. There is no separate per-day loss cap.
- Lock at starting balance: Once the MLL floor rises to your starting balance, it stops trailing and becomes a static floor — protecting your starting capital.
- Example: Start $50K, MLL floor = $48K. Hit $52K EOD, floor rises to $50K. Hit $55K EOD, floor rises to $53K.
Profit Split and Payouts
- 100% of first $10,000 in cumulative profits goes entirely to the trader (applies across all funded accounts combined)
- 90/10 thereafter: Trader keeps 90% of all profits after the first $10,000
- Daily payouts: Available once the trader reaches 30 consecutive winning trading days
- Standard payout processing: ACH, bank wire, and Wise — typically 1-3 business days
- Minimum payout: $100
Payout Process
- First payout eligibility: Available after a minimum holding period in the funded account — typically requires at least 8–10 trading days of live funded trading
- Payout frequency: Traders can submit a payout request every 14 days (bi-weekly)
- Payment methods: ACH bank transfer (US traders), wire transfer, and Rise (international payout platform)
- 100% first $10,000: All cumulative profits up to $10,000 go entirely to the trader — tracked across all funded accounts combined
- 90% thereafter: After $10,000 in total cumulative profits, the split becomes 90% trader / 10% Topstep
- Minimum payout: $50 minimum withdrawal per request
Key Trading Rules
- No time limits: Trade at your own pace — no deadline to complete the Combine
- Minimum 5 trading days: Required before completing the evaluation phase
- 50% consistency rule: Your best single day’s profit cannot exceed 50% of total accumulated profits at payout
- EAs and automated strategies: Fully permitted with no restrictions
- Overnight and weekend holding: Allowed on most futures products
- News trading: Allowed; no mandatory news restrictions (unlike many competitors)
- Contract limits: 5 contracts (50K), 10 contracts (100K), 15 contracts (150K)
- Free monthly reset: One free reset credit earned with each monthly renewal (Reset Bank system)
Platform — TopstepX
As of July 7, 2025, TopstepX is the only platform available for new Trading Combines. Key features include: integrated TradingView charting, The Tilt™ indicator (proprietary risk signal), built-in drawdown tracking, mobile browser compatibility, and direct API access. TopstepX is available on Windows, Mac, and mobile browsers. Traders on existing NinjaTrader, TradingView, or other platform accounts can continue trading those accounts but cannot open new Combines or resets on them.
Company Information
- Founded: 2012 by Michael Patak
- HQ: Chicago, Illinois
- Rebranded from TopstepTrader to Topstep in 2020
- Payouts: $1 billion+ to funded traders
- Community: 150,000+ traders on Discord
- Trustpilot: 4.3/5 from 11,500+ reviews
- Pass rate: ~12.4%
- Platform: TopstepX (exclusive for new accounts from July 2025)
- Markets: CME Group futures only (ES, NQ, CL, GC, ZB, and all CME products)
- Support: Live chat, email, phone, SMS, WhatsApp
Why Choose Topstep?
Topstep is the right choice for any serious futures trader. The 100% first-$10K profit split is genuinely rare — most firms start at 80/20 immediately. The lack of time limits, permitted EAs, and absence of a daily loss limit (just the trailing MLL) create a forgiving evaluation. The main trade-off is the monthly subscription model: if you take months to pass, fees add up. The new TopstepX-only approach is also a constraint for traders who rely on NinjaTrader or other platforms. But for futures traders who want the most established firm in the industry with the deepest educational ecosystem, Topstep is the benchmark everything else is compared against.
Frequently Asked Questions
Does Topstep still have a two-step evaluation?
No. Topstep moved to a single-phase evaluation in 2023. The Trading Combine® is now one step — meet the profit target while staying within the Maximum Loss Limit, complete at least 5 trading days, and pass the consistency check. There is no separate Verification Phase anymore.
Are Expert Advisors (EAs) allowed at Topstep?
Yes. Topstep fully permits automated trading strategies and Expert Advisors in both the evaluation and funded account stages. There are no restrictions on algorithmic trading.
What is the Maximum Loss Limit and how does trailing work?
The Maximum Loss Limit (MLL) is a trailing drawdown floor that rises based on your highest end-of-day account balance — not intraday highs. For a $50K account, the initial MLL is $2,000 below the starting balance ($48K floor). Each time your account closes the day at a new high, the floor rises accordingly. Once the floor reaches your starting balance, it locks permanently — it no longer trails. This EOD-only calculation gives traders meaningful intraday flexibility.
How do I get paid at Topstep?
Funded traders can request payouts bi-weekly (every 14 days) via ACH bank transfer, wire transfer, or Rise for international traders. There is a $50 minimum per payout request. The first $10,000 in cumulative profits across all funded accounts goes 100% to the trader; beyond that, the split is 90% trader / 10% Topstep.
What markets can I trade at Topstep?
Topstep provides access to CME Group futures contracts only. Available markets include equity indices (ES, NQ, YM, RTY and their micro versions), energy (CL, RB, NG), metals (GC, SI), US Treasuries (ZB, ZN, ZF), forex futures (6E, 6J, 6B, 6A), and agriculture (ZC, ZS, ZW). Crypto futures, equities, and options are not available.
What happens if I fail the Trading Combine?
If your account balance hits the Maximum Loss Limit, the Combine ends. You can restart using a Reset Bank credit — each monthly subscription renewal earns one free reset credit automatically. Additional reset credits can also be purchased. There are no other penalties; you simply restart the evaluation with the same or a different account size.
Does Topstep offer a scaling plan?
Topstep does not have a traditional performance-based scaling plan. Your funded account size is determined by the Trading Combine you purchase ($50K, $100K, or $150K). Traders seeking more capital can run multiple funded accounts simultaneously or upgrade to a larger Combine size. There is no automatic account size increase based on trading performance.
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