OneUp Trader VS Topstep
Overview
This piece explores the crucial distinctions and considerations to take into account when choosing between Topstep and OneUp Trader, two heavy hitters in the prop trading industry. Both firms offer aspiring traders the opportunity to demonstrate their capabilities and secure funded accounts, but their approaches cater to specific requirements and levels of experience.
OneUp Trader is a proprietary trading firm from Wilmington Delaware. They specialise in identifying talented traders and connecting them with funding sources, after they pass an evaluation. This means qualified traders can access accounts ranging from $25,000 to as high as $250,000, with no upfront costs (though monthly fees apply based on the chosen plan, starting $125).
The evaluation itself is straightforward. There’s just one hurdle to clear: reaching a specific profit target. Once achieved, you get to keep 100% of your earnings until you hit $10,000, after which you’ll get a 90/10 split, with no withdrawal fees or extra charges. Withdrawals are available from the start, with only a $1,000 minimum requirement. There are daily and trailing drawdown limits, as opposed to an overall cap.
OneUp Trader is compatible with an impressive 15 trading platforms, and their offerings go beyond just trade execution: they also provide valuable educational resources, insightful performance analytics directly on your dashboard, a two-strike policy for account violations and a generous referral program.
Topstep is a preeminent force in the prop trading world established over a decade ago. Based in the US, the firm has partnered with industry leaders NinjaTrader, TradingView, and Tradovate as both trading platforms and brokerages to help their traders succeed. However, their most recent innovation is arguably the most impressive: TopstepX™, meticulously crafted for Topstep users using the expertise of elite trading professionals and software developers. TopstepX™ transcends the limitations of traditional trade execution platforms by offering a holistic and immersive trading experience, aptly named the Ultimate Trading Xperience™. It functions as a centralised hub, uniting all of Topstep’s features within a single user-friendly platform.
TopstepTV™, a unique live-streaming experience broadcasted directly from Topstep headquarters, offers invaluable insights to viewers. From Monday to Friday, between 8.00am and 3.00pm CT, viewers can witness expert traders executing live trades while discussing current market movements and trends. This comprehensive broadcast encompasses news updates, practical trading tips, and community statistics, alongside recognition for top-performing traders and occasional guest appearances by industry professionals.
Topstep caters to traders comfortable with moderate to high capital levels by offering a focused range of account sizes starting at $50,000 and reaching $150,000. The firm employs a streamlined single-step evaluation process, with tiered profit targets and maximum drawdowns: profit targets are set at $3,000, $6,000, and $9,000, corresponding to increasing account sizes. Similarly, maximum drawdowns are capped at $2,000, $3,000, and $4,500 respectively. Topstep also offers a diverse selection of instruments, including popular options like the E-mini-S&P 500 (ES) and Micro E-mini versions of major indices. Additionally, traders can access commonly traded forex futures instruments such as the Australian Dollar (6A), Euro FX (6E), and Japanese Yen (6J).
| OneUp Trader is best for: | Topstep Trader is best for: |
| Traders needing a quick evaluation and funding. | Newer traders who’ll make good use of educational resources. |
| Those who value a variety of account sizes. | Futures traders looking for a strong simulated trading platform. |
| Traders seeking a platform without any data fees. | Traders who like having a profit target to aim for. |
| Those appreciating a strong trading community to share ideas. | Traders who find stringent risk management rules helpful to keep their trading controlled. |
Key Features OneUp and Topstep
OneUp Trader caters to a wide range of traders by providing account options that suit various requirements for capital and risk tolerances. Their streamlined evaluation process and swift access to funding make them a great choice for traders eager to get started.
Topstep takes a more methodical approach, offering a well-defined path for account growth through disciplined trading within their Trading Combine® program. This structured environment, combined with extensive educational materials, positions Topstep as a good fit for traders who want to learn the ropes the right way before going all in.
The comparison table below breaks down the key features and rules of Topstep and OneUp Trader.
| Feature | OneUp Trader | Topstep |
| Challenge Step | 1-Step Evaluation | 1-Step/1-Rule |
| Challenge Account Sizes | $25,000, $50,000, $100,000, $250,000 | $50,000, $100,000, $150,000 |
| Profit Target | $1,500 to $15,000 | $,3000 to $9,000 |
| Challenge Cost | $125 – $650/month | $49 – $149/month |
| Minimum Trading Days | 15 days | 2 days |
| Payout Split | 90/10 (trader/firm) Keep 100% on first $10,000 profits | 90/10 (trader/firm) Keep 100% on first $10,000 profits |
| Maximum Position Size | 3 to 25 contacts | 5 to 15 contracts |
| Max Loss Limit | No daily Loss Limit | $2,000 to $4,500 |
Additional Points:
OneUp Trader:
- Offers an unlimited number of balance resets.
- Provides a seven-day free trial.
- OneUp Trader Express Account allows experienced traders to get through the evaluation process in just five trading days, leveraging their past performance to expedite approval for funding.
Topstep:
- Topstep keeps things clear with a single, crucial rule: don’t exceed the maximum loss limit. Unlike some prop firms that track unrealised gains, Topstep focuses on your end-of-day account balance, offering more flexibility.
- You can open, up to 5 Express Funded Accounts (XFA)
- Automated XFA Creation within minutes
- Topstep’s Performance Coaching Plan costs $395 per month or is included free with a funded account. This comprehensive program provides personalised guidance, daily check-ins, weekly coaching sessions, and access to a private trading community, all designed to accelerate your trading development.
Deeper Dive into OneUp vs. Topstep
The following table provides a detailed comparison of the rules for participating in both OneUp Trader and Topstep programs.
| Rule Category | OneUp Trader | Topstep Trader |
| Allowed Instruments | Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures. | Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures. |
| Scalping | Allowed | Allowed |
| Day Trading | Allowed | Allowed |
| Swing Trading | Allowed | Not Allowed |
| Holding Positions Overnight | Not Allowed | Not Allowed |
| Holding Positions Over Weekends | Not Allowed | Allowed |
| News Trading | Allowed | Allowed |
- Max Daily Loss (MDL):
- Topstep: Topstep prioritises risk management by setting a maximum loss limit based on your previous day’s closing balance. This approach gives traders more flexibility to deal with market swings. The limits vary based on account size as follows:
- $50K Trading Combine: $1,000
- $100K Trading Combine: $2,000$
- 150K Trading Combine: $3,000
- OneUp Trader: There’s no daily loss limit for either evaluation or funded accounts. Trailing drawdown stops at the account’s initial starting balance.
- Topstep: Topstep prioritises risk management by setting a maximum loss limit based on your previous day’s closing balance. This approach gives traders more flexibility to deal with market swings. The limits vary based on account size as follows:
- Withdrawal:
- Topstep: Topstep’s withdrawal policy has two tiers: for an initial payout of 50% of your account balance, you need to achieve five winning days with a minimum profit of $200 each (not necessarily consecutive). To gain unrestricted access to your profits, withdrawing the full amount, you need to achieve 30 winning days. Topstep processes withdrawal requests efficiently, with an average turnaround time of seven hours, and you can expect the funds to arrive within one to two working days.
- OneUp Trader: Once funded and generating profits, you can withdraw any amount exceeding the minimum threshold of $1,000. OneUp Trader processes withdrawal requests on the same day.
- Leverage:
| Leverage Futures | OneUp Trader | Topstep Trader |
| Futures | 1:1 | 1:1 |
OneUp Trader vs. Topstep: Pros and Cons
OneUp Trader:
- You keep 100% of your profits up to the first $10,000 and enjoy a generous 90% share thereafter.
- There’s no cap on how much you can withdraw from your funded account.
- The firm doesn’t charge data fees for funded traders.
- The efficient customer service team is available to help at all times.
- No scaling in the evaluation process.
- The Express Account allows experienced traders to complete the evaluation in just five days.
- Straightforward single-step evaluation process provides a clear and swift path to a funded account.
- 15 trading days required to complete the evaluation.
- Minimum withdrawal threshold of $1,000.
- Free platform selection during the evaluation is limited to NinjaTrader, and there are costs for additional software once you qualify for funding.
- Relatively expensive evaluation pricing.
Topstep:
- Things are kept simple with an evaluation process that has only one stage and one rule.
- Backed by a long-standing reputation, Topstep is a respected name in the prop trading world.
- Variety of account sizes meets the needs of different traders.
- You keep 100% of your earnings up to the first $10,000, followed by a generous 90% share.
- Complimentary coaching helps you refine your trading skills.
- TopstepX offers additional benefits and features.
- No strict deadline by which the profit target has to be met.
- Comprehensive library of education resources, especially TopstepTV, a daily market broadcast delivering market intelligence, live analysis and invaluable trading tips and ideas.
- Increased costs for funded traders, who are considered professionals and thus have to pay monthly fees for exchange data feeds.
- Requirement to achieve five winning days with a minimum profit before accessing your first withdrawal.
- Withdrawals are subject to a minimum threshold of $1,000.
Conclusion
In the fast-paced world of proprietary trading, OneUp Trader and Topstep both stand out, offering aspiring traders who can prove they’re up to the task the opportunity to trade with substantial levels of real capital. While both firms are leading forces, each offers a distinct pathway to success.
Topstep, with its extensive experience in the sector, has served as a pioneer for subsequent firms like OneUp Trader. Although both firms share the same fundamental premise, OneUp Trader provides a broad selection of options, widening the scope for choice available to futures traders partnering with them.
It’s crucial to emphasise that the information we give here gives you a preliminary overview, but you should make sure you carry out further research to gain an in-depth understanding of each firm’s offerings before you make any decisions. Consider how factors such as pricing, profit-sharing structures, account sizes and rules will work with your budget, goals, skill level and risk tolerance so you can select not just the best prop firm, but the best prop firm for you.
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