Honest Review · Updated Feb 2026
Topstep Review 2026 — Is It Still Worth It?
By PropFirmPath
12 min read
Score: 7.9/10
Founded
2012
Most established prop firm
Trustpilot
4.3/5
~3,000+ reviews
Accounts
50K–150K
3 sizes available
Eval Process
2 Steps
Trading Combine + XFA
Drawdown
EOD
End-of-day only
Profit Split
100% → 90/10
$10K retention first
Topstep is the oldest and most recognized futures prop firm in the industry. Founded in 2012 by Michael Patak in Chicago, they've paid out over $30 million to traders and were the firm that essentially invented the "trading combine" model that every competitor now copies. If you've ever heard of funded futures trading, Topstep is probably the firm that introduced you to the concept.
Their reputation is their biggest asset — but in 2026, they're no longer the cheapest option, and newer firms have introduced features that Topstep lacks. This review breaks down whether their brand trust justifies the premium.
Topstep — The Industry Original
50K from $49/mo · EOD Drawdown
Get Topstep →
💰 Pricing & Account Sizes
Topstep offers 3 account sizes. Unlike Apex, they rarely run deep discount sales — pricing is fairly consistent at the listed rates.
| Account | Monthly Fee | Profit Target | Max Drawdown | Max Contracts |
|---|
| 50K | $49/mo | $3,000 | $2,000 (EOD) | 5 minis |
| 100K | $99/mo | $6,000 | $3,000 (EOD) | 10 minis |
| 150K | $149/mo | $9,000 | $4,500 (EOD) | 15 minis |
For context, Apex offers a 50K evaluation from $39.40 during sales — making Topstep roughly 3× more expensive at the entry level. However, Topstep's EOD drawdown is significantly more forgiving, which matters if you're a scalper or volatile intraday trader.
💡 Hidden Cost: Reset Fees
If you fail a Topstep evaluation, the reset costs the same as a new subscription ($49-$149). Some competitors like Tradeify offer $0 resets, while Apex charges a flat $50 regardless of account size.
📋 The 2-Step Evaluation Process
Topstep uses a 2-step process that's unique in the industry. Most competitors (Apex, MFFU, TPT) use a single-step evaluation.
Step 1: Trading Combine
Hit Profit Target
Trade for at least 2 days, hit your profit target without exceeding the max drawdown. No daily loss limit. Once you pass, you move to Step 2.
Step 2: Express Funded Account (XFA)
Simulated Funded
Trade with the same rules. Withdraw up to $5,000 per payout. After proving consistency, you may be offered a Live Funded Account with higher limits.
The XFA (Express Funded Account) is a simulated funded account — you're trading simulated capital, but withdrawals are real money. This is standard across the industry (Apex, Tradeify, and MFFU also use simulated funded accounts). The key difference is Topstep's potential path to a Live Funded Account, where you trade real capital — though this is invitation-only and relatively rare.
📐 Trading Rules & Drawdown
This is where Topstep shines. Their EOD (End-of-Day) drawdown is the biggest advantage over trailing drawdown firms like Apex.
Drawdown Type
End-of-Day (EOD)
Only updates at market close based on your ending balance — intraday swings don't affect it
Daily Loss Limit
Yes — Varies
50K: $1,000/day · 100K: $2,000/day · 150K: $3,000/day. This is extra protection but limits aggressive trading.
Winning Day Threshold
$150+
New dashboard: $150/day. Legacy dashboard: $200/day. Need 5 winning days per payout.
Min Trading Days
2 Days (Combine)
Must trade at least 2 separate calendar days. No 1-day passes.
Trading Hours
CME Hours
All CME products during regular and extended hours. Must flatten before 3:10 PM CT (daily close).
News Trading
Allowed
No restrictions on trading around economic releases
Overnight Holds
Not Allowed
Must be flat by daily close. No swing trading overnight positions.
Scaling Plan
No
Full contract allocation from day 1 — no progressive scaling
⚠️ EOD Drawdown Explained
Example: You start with a 50K account and $2,000 drawdown. During the day, you're up $1,500, then close at +$800. Your drawdown only adjusts based on the +$800 close, not the $1,500 peak. If you had trailing drawdown (like Apex), the $1,500 peak would permanently reduce your room. This is a massive advantage for active traders who see large intraday swings.
⚖️ Evaluation vs Funded: What Changes?
Topstep offers two pricing paths for the Trading Combine. Understanding both — and how funded rules differ — is essential.
📋 Trading Combine (Evaluation) Pricing
| Size | Standard | No Activation Fee | Profit Target | Max Loss (EOD) | Contracts |
|---|
| 50K | $49/mo + $149 activation | $109/mo + $0 activation | $3,000 | $2,000 | 5 |
| 100K | $99/mo + $149 activation | $159/mo + $0 activation | $6,000 | $3,000 | 10 |
| 150K | $149/mo + $149 activation | $209/mo + $0 activation | $9,000 | $4,500 | 15 |
Reset fee = same as monthly price. Max Loss Limit = EOD trailing (account balance high − max drawdown, set end of each day).
⚡ Express Funded Account (XFA) — What Changes
| Rule | Trading Combine | Express Funded (XFA) |
|---|
| Drawdown Type | EOD trailing | EOD trailing (same) |
| Profit Target | $3,000–$9,000 | None — just trade and withdraw |
| Monthly Fee | $49–$209/mo | $0/mo — subscription ends at pass |
| Activation Fee | N/A | $149 (Standard) / $0 (No Activation path) |
| Profit Split | N/A | 90/10 |
| Max Accounts | Unlimited | 5 XFA |
| Back2Funded | N/A | Up to 2 reactivations (before 1st payout) |
⚠️ What to Watch For
Standard vs No Activation Fee: If you pass in 1–2 months, Standard ($49/mo + $149 activation = $198–$247 total) is cheaper. If you take 3+ months, No Activation Fee ($109/mo × 3 = $327, but $0 activation) may be better. Calculate your expected time to pass.
💸 Payouts & Profit Split
First Withdrawal
After 5 winning days
In XFA account
Payout Frequency
Weekly
Every Wednesday
Profit Split
90/10
New traders Jan 2026: 90/10 from start
Legacy Traders
100% → 90/10
Pre-Jan 2026: 100% first $10K
XFA Payout Cap
$5K / $6K
Standard $5K · Consistency $6K
Payment Methods
ACH / Wire
US traders ACH, international wire
The $5,000 per-payout cap in XFA Standard is a limitation. However, the new XFA Consistency option (launched Feb 2026) raises the cap to $6,000 and offers a faster path to payout eligibility. For comparison, Apex allows larger withdrawals (50% of account balance), and TakeProfitTrader offers day-1 payouts. The path to Live Funded (no cap) is Topstep's answer, but it's invitation-only.
🆕 New Features (2026)
XFA Consistency (Feb 2026): New XFA type with $6,000 payout cap and consistency-based eligibility. Choose between Standard or Consistency when activating your XFA.
Back2Funded: If you lose your XFA before your first payout, you can reactivate it up to 2 times for a fee (instead of re-doing the Trading Combine). Same account size and payout policy. Available only on TopstepX dashboard.
✅ Pros & Cons
✅ Pros (7)
- EOD drawdown — most forgiving drawdown type in the industry
- Longest track record — operating since 2012, $30M+ paid out
- No activation fee on XFA — $0 monthly fee after passing combine
- Weekly payouts — faster than Apex's 2×/month schedule
- Full contract access from day 1 — no scaling plan to unlock
- News trading allowed — no restrictions around economic releases
- Path to Live Funded — only major firm offering real capital accounts
❌ Cons (7)
- 2-step process — slower to get funded vs 1-step firms
- Expensive evals — $49-$149/mo with no deep discount sales
- $5K XFA payout cap — limits withdrawal size until Live Funded
- Daily loss limit — restricts aggressive trading styles
- Only 5 XFA accounts — limited stacking vs Apex's 20
- No overnight holds — swing traders can't hold past close
- Only 3 account sizes — no 25K entry option
📦 Account Stacking & Multi-Firm Policy
Max Funded (XFA)
5 Accounts
Simultaneously active
Max Live Funded
1 Account
Replaces XFAs when offered
Max Buying Power
$750,000
5 × $150K
Unlimited Evals
Yes
No limit on combine accounts
Other Firms
Allowed
No restrictions
Copy Trading
Allowed
Across own accounts
Topstep's 5-account limit is the industry standard but falls short of Apex's 20. For serious stackers, this is a meaningful limitation. However, since multi-firm trading is allowed, you can combine 5 Topstep + 20 Apex + 5 Tradeify + 5 MFFU + 5 TPT = 40 funded accounts across all firms.
📊 Industry Comparison: Max Funded Accounts
🧾 Payout Proof & Community
Topstep has the strongest payout track record in the industry. They've been paying traders since 2012 and regularly showcase payouts on social media.
⭐⭐⭐⭐⭐Trustpilot · Verified
"Received my 4th payout from Topstep today. $2,500 via ACH, took 3 business days. Been with them for 8 months now, never had an issue."
⭐⭐⭐⭐Reddit r/FuturesTrading
"Topstep's XFA is solid if you manage expectations. The $5K cap per withdrawal is annoying but the EOD drawdown makes up for it. I run 3 XFAs and pull $10-15K/month total."
⭐⭐⭐Trustpilot · Verified
"Good firm but expensive compared to Apex. I use Topstep for the EOD drawdown but run Apex accounts alongside for the cost savings. Together they work well."
Note: Testimonials sourced from public review platforms. Individual results vary. Most traders do not pass evaluations.
Ready to Try Topstep?
50K from $49/mo · EOD Drawdown · The industry original
Get Topstep →
🏆 Final Verdict
Topstep — 7.9/10
Topstep is the most trusted name in futures prop trading, and their EOD drawdown makes them the best choice for scalpers and active intraday traders. However, the 2-step process, higher pricing, $5K payout cap, and limited stacking options hold them back against newer, more aggressive competitors. If brand trust and forgiving drawdown rules are your top priorities, Topstep is an excellent choice. If you're budget-conscious or want to stack aggressively, Apex or Tradeify are better value.
Best For
Scalpers who need EOD drawdown & brand trust
Think Twice If
Budget-focused, want stacking, or need overnight holds
Best Account
50K ($49/mo) — lowest barrier with full features
🔄 Alternatives to Consider
Apex Trader Funding
From $39.40/mo (80% off)
1-step eval · Trailing drawdown · 20 funded accounts · 1-day pass possible
Read Apex Review →
Tradeify
From $72/mo (30% off)
1-step eval · EOD drawdown · $0 activation · $0 resets · 5 accounts
Read Tradeify Review →
My Funded Futures
From $49/mo
1-step eval · EOD drawdown · No daily loss limit · 5 sim funded accounts
Read MFFU Review →
TakeProfitTrader
From $60/mo (40% off)
1-step eval · Day-1 payouts · Trustpilot 4.7⭐ · 5 funded accounts
Read TPT Review →
❓ Frequently Asked Questions
Is Topstep legit? Do they actually pay out?▼
Yes. Topstep has been operating since 2012 and has paid out over $30 million to traders. They have 2,800+ Trustpilot reviews at 4.3/5. They are the most established futures prop firm in existence. Payouts are processed weekly via ACH (US) or wire transfer (international).
What's the difference between XFA and Live Funded?▼
XFA (Express Funded Account) is a simulated funded account where you trade simulated capital but receive real payouts. It has a $5,000 per-withdrawal cap. Live Funded is an invitation-only real capital account with no payout cap — Topstep may offer this after you demonstrate consistent profitability on XFA. Most traders stay on XFA.
Is Topstep's EOD drawdown really better than trailing?▼
For most traders, yes — significantly. EOD drawdown only adjusts based on your end-of-day balance, not intraday equity peaks. If you're a scalper who sees +$1,500 intraday but closes at +$300, your drawdown only adjusts by $300, not $1,500. With trailing drawdown (Apex), that $1,500 peak permanently reduces your room.
Can I pass the Topstep combine in 1 day?▼
No. Topstep requires a minimum of 2 trading days to pass the Trading Combine. If 1-day passes are important to you, consider Apex (1 day minimum), MFFU (no minimum), or TakeProfitTrader (no minimum).
Is Topstep worth it when Apex is so much cheaper?▼
It depends on your trading style. If you're a scalper or have volatile intraday P&L, Topstep's EOD drawdown alone is worth the premium — you'll fail fewer evaluations and keep your funded accounts longer. If you're patient, disciplined with entries, and comfortable with trailing drawdown, Apex's lower price is the better value. Many traders run both.
Does Topstep have a consistency rule?▼
In the Trading Combine (Step 1), there is no official consistency rule. In the XFA, Topstep informally enforces consistency — they may flag accounts where a single day represents more than 50% of total profits. The winning day threshold has been updated to $200 (minimum profit to count as a winning day).
Can I hold positions overnight?▼
No. Topstep requires all positions to be flat by the daily close (3:10 PM CT). This is a hard rule. If you want overnight holds, Apex allows them during evaluation, and MFFU has no restrictions on holding periods.
What platforms does Topstep support?▼
Topstep supports TopstepX (their proprietary browser-based platform) and NinjaTrader. They do NOT support Rithmic, Tradovate, TradingView, or Sierra Chart. If you need these platforms, Apex (Rithmic/Tradovate) or Tradeify (NinjaTrader/Tradovate/TradingView) are better options.
⚠️ Disclaimer
This review contains affiliate links. We may earn a commission at no extra cost to you.
Trading futures involves significant risk. Most traders do not pass evaluations. This is not financial advice.
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