📋 In This Review
📊 Firm Overview
Updated May 2026Account Sizes
$50K – $150K
Min Eval Fee
$49 (one-time)
CEO / Founder
Michael Patak (Founder & CEO)
Profit Split
90%
Payout Time
3–5 Business Days
DD Type
Trailing (Intraday)
Markets
Futures (CME — ES, NQ, CL, GC, MES, MNQ and more)
News Trading
Yes
Overnight Hold
No
Scaling
Up to $150K
🔬 SPR Intelligence Analysis
Proprietary MetricsDifficulty Score Based on profit target, drawdown type, min days and restrictions. 10 = extremely hard to pass.
7.5/10
Above average difficulty — trailing (intraday) drawdown
Value Score Lower = better value. Industry average ~$7.00 per $1K.
0.9 per $1K funded
$49 (one-time)
vs ~$7.00 avg across all tracked firms
Best Trader Profile Trading styles most likely to succeed given this firm's specific rule set and drawdown type.
Futures Day Trader
Disciplined Scalper
Intraday Swing Trader
Topstep suits disciplined futures day traders who value a structured, education-backed path to real capital over low upfront costs. The intraday trailing MLL and 40% consistency rule demand methodical trading — it is not suitable for aggressive scalpers or traders who prefer simple, flexible rules.
📰 Firm Updates & News
Live Feed2026-04-01
Topstep Brokerage launched — NFA-registered introducing broker (NFA ID# 0567079) allowing direct transfer of prop earnings to live trading account Platform
2026-01-12
Profit split updated to fixed 90/10 for all new accounts — legacy users keep 100% on first $10,000 then switch to 90% Rule
2026-01-01
Topstep ran Super Bowl commercial "Climb Higher" — first prop firm to advertise on Super Bowl Platform
2025-12-01
TopstepX platform outages reported across multiple sessions — stop-loss and take-profit failures caused undeserved account closures Alert
2025-07-22
All new Trading Combines must use TopstepX only — NinjaTrader, Tradovate, Quantower no longer available for new signups Platform
2025-04-28
Payout caps updated — Standard XFA capped at $2K/$3K/$5K and Consistency XFA at $3K/$4K/$6K by account size Rule
2024-08-25
Daily Loss Limit removed from TopstepX accounts created or reset after this date Rule
2012-07-01
Topstep (originally TopstepTrader) founded by Michael Patak — first prop firm to launch large-scale funded trader evaluation model Platform
🛡️ Is TOPSTEP Legitimate?
✓ Legitimate
Registered In
USA — Topstep LLC, Chicago, Illinois (est. July 2012)
Operating Since
2012
Reported Payouts
$102M+ (verified — 81,177 payouts in 2024 alone)
Regulation
Unregulated prop model (simulated) — Topstep Brokerage is NFA-registered (ID# 0567079)
⚠ Red Flags to Know
🚩 Major TopstepX platform outages in late 2025 caused undeserved account closures — no consistent resolution offered
🚩 Monthly subscription model — costs accumulate significantly if Combine takes multiple months
🚩 Intraday trailing MLL is the most punishing drawdown type — moves in real time, no EOD lock
🚩 Payout caps per withdrawal cycle limit earnings — $2,000–$6,000 depending on path and account size
🚩 TopstepX platform lock-in — traders cannot use preferred platforms like NinjaTrader for new accounts
🚩 40% consistency rule requires daily profit monitoring throughout entire Combine cycle
🚩 Live Funded Account starts at only 20% of funded balance — psychological and practical adjustment required
🚩 Trustpilot rating has fluctuated between 3.4 and 4.5 — inconsistent customer service responses reported
📋 Challenge Rules
1️⃣ 1-step
🧮 Challenge Fee Calculator
Select account size to see full cost breakdown:
✅ Pros & Cons
✅ Pros
✅ Longest-running prop firm in the industry — 13 years of verified operations
✅ $102M+ in verified payouts to 200,000+ traders worldwide
✅ Only firm offering a genuine path to trading real CME capital via Live Funded Account
✅ TopstepX proprietary platform — TradingView charts, real-time CME data, commission-free trading
✅ Back2Funded program protects traders from losing funded status after one bad day
✅ Built-in Trade Copier for managing multiple accounts simultaneously
✅ 90% profit split from day one (for accounts opened after January 12, 2026)
✅ News trading fully allowed — FOMC, NFP, CPI, all major events permitted
✅ Topstep Brokerage launched 2026 — NFA-registered introducing broker for live capital transfers
✅ "The Tilt" indicator, profit lock, and personal lockout tools built into platform
❌ Cons
❌ Monthly subscription model — costs accumulate if you take longer to pass
❌ Intraday trailing drawdown — the hardest drawdown type in the industry
❌ No overnight or weekend holding — all positions must close by 3:10 PM CT
❌ 40% consistency rule — your best day cannot exceed 40% of total cycle profit
❌ TopstepX only for new accounts — NinjaTrader, Tradovate no longer available to new signups
❌ Payout caps per request limit withdrawals — $2,000–$6,000 depending on account and path
❌ Major platform outages reported in late 2025 causing rule violations and account closures
❌ Trustpilot rating fluctuates — some traders report inconsistent customer service responses
🎯 Who Is This Firm For?
✅ Ideal For
👍 Serious futures traders who want the most credible, established firm in the industry
👍 Traders working toward real capital via the Live Funded Account path
👍 Traders who can manage intraday risk with strict daily session discipline
👍 Traders wanting news trading freedom — all major events permitted
👍 Multi-account traders using the built-in Trade Copier on TopstepX
❌ Not Ideal For
👎 Budget traders — monthly fees add up quickly if the combine takes time
👎 Swing traders — no overnight or weekend holding on any account
👎 Traders who prefer EOD or static drawdown over intraday trailing
👎 Traders wanting simple rules without consistency requirements
👎 Traders dependent on NinjaTrader or Tradovate (no longer available for new accounts)
⚖️ Our Verdict
★★★★☆ 4.2/5
Topstep is the most credible and battle-tested prop firm in the industry — period. The 13-year track record, $102M+ in payouts, and a genuine path to real CME capital via the Live Funded Account set it apart from every newer competitor. However, the monthly subscription model, brutal intraday trailing drawdown, strict session close rule, and 40% consistency requirement make it one of the harder firms to pass. The late-2025 TopstepX platform outages are a legitimate concern that must be acknowledged. For serious, disciplined futures traders who want the most credible firm available — Topstep is the benchmark. For traders prioritizing low cost and simple rules, newer one-time-fee firms may be a better fit.
✓ Recommended for Futures Day Trader, Disciplined Scalper, Intraday Swing Trader
❓ Frequently Asked Questions
Yes. Topstep is the original pioneer of the funded trader model, founded in Chicago in 2012 by Michael Patak. The firm has paid out $102M+ to over 200,000 traders across 140+ countries, holds a listing on Inc. 5000's fastest-growing companies, and launched Topstep Brokerage in 2026 — a fully NFA-registered introducing broker. It is widely considered the most credible and established futures prop firm in the industry.
The Trading Combine is a monthly subscription evaluation available in three account sizes — $50K at $49/month, $100K at $99/month, and $150K at $149/month. Traders must hit a profit target ($3K/$6K/$9K), stay within the Maximum Loss Limit, respect the Daily Loss Limit each session, and ensure no single trading day accounts for more than 40% of total cycle profit. There is no minimum or maximum number of trading days. After passing, traders pay a $149 one-time activation fee to enter the Express Funded Account — or choose the No Activation Fee path at a higher monthly cost.
All traders who joined Topstep after January 12, 2026 receive a fixed 90% profit split from the first dollar. Payouts can be requested as soon as 5 winning days are completed in the Express Funded Account. Withdrawals are processed via Wise, Coinbase, or PayPal through Deel, and are capped per request — $2,000 to $6,000 depending on account size and payout path. Traders who reach 30 winning days can request daily payouts.
No. All positions must be closed by 3:10 PM CT every trading day. Positions held past this time are automatically liquidated by the platform. Weekend holding is not permitted on any account type. Topstep is designed exclusively for futures day traders and is not suitable for swing traders or position traders.
Back2Funded is Topstep's account recovery program that allows traders who breach their Express Funded Account to reactivate it without restarting the Trading Combine. Traders can use up to two Back2Funded reactivations on the same account, preserving their original account size and payout policy. It is a meaningful safety net for traders who experience a single bad day early in their funded journey. Reactivation fees apply and are outlined at topstep.com.
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