Topstep Review 2024
Topstep is a well-regarded futures proprietary trading firm, providing funded accounts for aspiring futures traders as well as assisting them in establishing a comprehensive trading toolkit. The Topstep prop firm facilitates traders in earning real income, providing they can effectively manage risks and demonstrate profitability. The Trading Combine is a rigorous but fair gateway into the prop trading industry, equipping traders with the necessary skills to become financially independent.
Overview
Topstep was set up in 2012 by Michael Patak, who worked previously as a Dow futures trader and founded the firm while trading on the floor of the Chicago Board of Trade. The firm was officially registered as a limited liability company (LLC) in July 2012 and operates from downtown Chicago, near the West Loop Gate neighbourhood. Recognised by INC.com as one of the fastest-growing prop firms in the US, Topstep has cultivated a thriving trading community with traders from more than 140 countries. The prop firm offers a wide range of trading platforms including it’s own TopstepX, and renowned NinjaTrader, and TradingView. Trading accounts on Topstep are available in ten different currencies, making the experience more convenient for traders across the world.
How Many Funded Traders Does Topstep Have?
Topstep funds close to 20,000 traders monthly, funding an impressive 19,268 accounts in February 2024 alone and paying out over $23 million since 2020. These figures reflect the firm’s significant reach and impact. Indeed, according to their website, 97% of funded traders reported that the firm enhanced their trading experience.
>> Ready to join 20,000 plus Topstep traders? Sign up by clicking here! <<
How Does Topstep Work?
Topstep gives traders access to capital through a funded futures account. With a funded account, traders retain the entirety of the $10,000 they generate in profits, and a 90% profit share thereafter. The potential to earn real profits with Topstep is contingent on the trader completing Topstep’s evaluation challenge, known as the Trading Combine. The firm equips traders with all the necessary tools to develop robust trading strategies, thereby enhancing their chances of success in the challenge.
1 RULE: MAXIMUM LOSS LIMIT
Exceeding the Maximum Loss Limit (MLL) will result in a rule violation. Topstep’s MLL is based on your end of day balance, unlike other futures prop firms, who calculate it on unrealized profits intraday (high water mark). Topstep prop firm have the best drawdown in the business which gives you more room to trade.
OBJECTIVES:
The firm is committed to providing real world trading values in the Topstep Trading Combine. These non-rule violating objectives are part of the plan which disciplined traders need to follow:
Topstep Trading Combine
The Trading Combine is where Topstep assesses potential traders on their ability to effectively manage risk, identify lucrative trading opportunities and generate profits. When starting the Trading Combine, traders are given ample time to achieve the goals set by Topstep, with a minimum duration of two trading days (because of the firm’s consistency target), but no maximum.
The Trading Combine operates as a monthly subscription service, with three types of simulated accounts offering simulated funds of $50,000, $100,000 or $150,000. Fees for these accounts are $49, $99, and $149 respectively. The $50,000 simulated trial account is the most popular choice. The account balance and Trading Combine account rules can be reset for a fee, ranging from $49 to $149 depending on account size. This fee is charged in addition to the monthly subscription fee.
To gain access to a funded trading account, traders just need to meet the following objectives:
- Reach and maintain the profit target.
- Adhere to the consistency target, which stipulates that a trader’s best performance day must be below 50% of total profits generated.
- Avoid breaching the daily loss limit, which would result in deactivation of your account for that trading day.
Traders must also adhere to Topstep’s one rule: ensure that the account balance does not drop to or below the maximum loss limit.
Traders who stay within all these parameters will qualify for a Topstep Express Funded Account.
>> Ready to start learning how to become a Funded Futures Trader with Topstep? Sign up TODAY! <<
Topstep Funded Account
Traders who complete Topstep’s 1-Step Trading Combine, thereby demonstrating they can trade successfully, are rewarded with a funded account. Trading on a Topstep funded account doesn’t entail any risk, and traders have access to a broader range of financial instruments compared to the Trading Combine.
During the Trading Combine, traders are limited to trading futures listed on the Chicago Mercantile Exchange (CME). Access to additional products on the platform is available, but traders are charged for real-time exchange data feeds.
The rules for funded accounts are similar to those of the Trading Combine: traders are restricted to trading approved products during specified times, must stay within prescribed loss limits, and need to follow scaling plans.
>> Want to start trading with a funded account? Sign up now! <<
Topstep Features
In the following section we take a look at the features offered by Topstep, which include an attractive profit share, coaching, a comprehensive video library, TopstepTV, a trading forum, withdrawals and helpful customer support.
Profit Split
Traders retain the entirety of the initial $10,000 they generate in profits. The profit split thereafter is 90/10, meaning the trader retains 90% of profits and Topstep receives the remaining 10%. This payout structure applies individually to each trader and can span multiple Funded Accounts. In other words, until a trader’s cumulative payouts across all their Funded Accounts reach $10,000, they retain 100% of their profits. Once the cumulative payouts surpass $10,000, the 90% profit share comes into effect.
Free Coaching
Topstep provide their traders proven education, free group coaching, and all of the support you need to succeed. The coaching sessions are conducted by experienced professionals proficient in trading futures as well as other financial instruments. Group coaching is also offered, enabling you to meet peers, while digital coaching uses AI to provide up-to-date guidance and support.
Free Group Coaching: Free Group Coaching is live on TopstepTV every Monday–Thursday from 12-1 PM CT. Learn from the Topstep team of experts and get your questions answered live. Their Performance Coaches are here to support you on your journey to becoming a Topstep Funded Trader™. Send your burning questions to their Coaches so they can answer them on-air at groupcoaching@topstep.com.
Digital Coaching: Topstep’s your personalized, automated, real-time extension of Topstep’s Performance Coaches. Coach T is available in the Trading Combine® and Express Funded Account. It provides tools and personalized trading stats to help traders become a smarter and more disciplined. Coach T will guide you in achieving Funded Trader status every time you get in front of the trading screens.
Discord Channel: Join the #group-coaching channel to meet the Topstep team and connect with other traders. Each Topstep Coach also has a dedicated Discord channel, so if you have previously worked with Coach Robert, you can now find him in Discord under #coach-robert. Each Coach posts their hours to their channel each week so you know when you can catch them.
>> Learn to trade better with Topstep! Sign up TODAY! <<
Video Library
Topstep offer a video library with tons of exclusive trading videos, encompassing a wide range of day trading strategies with feedback from other traders, a Coach’s Playbook, and videos specifically curated for funded traders. Through the video library, traders can access valuable insights on topics such as ranges and breakouts, end-of-year checklists, and indicators for day trading, among other essential trading tips.
Topstep TV
Another ground-breaking feature recently introduced by the prop firm is TopstepTV. This streams live from the Topstep headquarters from Monday to Friday, 8.00 am – 3.00 pm CT. The unique initiative allows traders to learn directly from expert traders as they trade live and discuss the latest market movements and trends. TopstepTV Viewers will benefit from news updates, valuable trading tips, community statistics, acknowledgments for top-performing traders, and special guest appearances.
TopstepX™
TopstepX™ is a custom-built trading platform designed exclusively for Topstep traders. Leveraging over ten years of industry expertise, insights, and feedback, the Topstep prop firm has collaborated with the expertise of professional traders and cutting-edge software developers to build a first-of-its-kind prop trading platform.TopstepX™ goes above and beyond, providing more than just a platform for executing trades: it offers the Ultimate Trading Xperience™. Master the futures markets with TopstepX™. This comprehensive platform integrates educational tools, trading challenges, and funded account opportunities, all in one place.
TopstepX™ Features
A TopstepX™ account is simple to sign up for and it enables seamless trading from any location.
- Sign up and start trading in under a minute, with no connection instructions.
- The web-based platform is compatible with both PCs and Macs.
- A dedicated mobile app for both iOS and Android will be introduced soon.
It offers the following exceptional features:
- The evaluation process, The Trading Combine®, is always only one step, with one rule.
- Fully integrated licensed TradingView® charts, offering traders their favourite drawing tools, indicators, and customisations.
- The Tilt™, a prop trading indicator providing real-time insights into the bias long and bias short of all Topstep traders.
- Dedicated data feed directly from the Chicago Mercantile Exchange (CME).
- Simple ‘bracket’ orders with drag and drop profit and risk targets, which help you to deal with all the mathematics.
- Simplified production selection, ensuring traders remain on the front month and avoid excessive contracts.
- Auto-closure of positions at end-of-day and auto-liquidation when you achieve your profit target, preventing you trading past it.
- Integrated live TopstepTV feed for motivational support throughout the trading day.
- Live Chat Support connecting traders directly with the Topstep team.
- Permitted products drop-down table with individual indicators showing if the market is open for each product.
Topstep Trading Platforms (Additional)
In addition, Topstep offers a variety of integrated trading platforms for both simulated and funded accounts. Traders can connect their Trading Combine or Funded Account to these external platforms for even greater flexibility:
- NinjaTrader 7
- TradingView
- Tradovate
- Sierra Chart
- T4
- ATAS (Order Flow Trading)
- Jigsaw Trader
- R|Trader
- Volfix
- MultiCharts
- MotiveWave
- Bookmap X-RAY
- Trade Navigator
- Investor/RT
Topstep Withdrawals
To request a payout, traders need to fill a payout form via the Topstep app. While payouts are processed daily, there may be a waiting period of up to ten days to receive funds. Once a payout request is submitted and approved, and all required documentation (including ACH/wire/SWIFT details and KYC documents) provided, Topstep will deduct the funds from the trader’s account and send pay them out.
The timeframe for payout arrival depends on the selected payment method. Payouts via ACH should arrive within up to ten business days, while international wire/SWIFT is faster, taking three to five business days. Traders should note that there is a minimum payout request of $125.
Topstep Support
Topstep support is accessible around the clock, As the 1st Futures Prop Firm, Topstep takes pride in ensuring that all traders get the 5-star experience they expect. Their support team is made up of Funded Traders and industry experts with live chat representatives available to help during Topstep’s normal business hours Monday to Friday 5:30AM – 8PM CT.
Is Topstep Legit?
Topstep is widely respected as a leading firm in the prop trading industry. Their credibility is highlighted by features in prominent news outlets like Fox Business, Forbes, CNBC, Bloomberg and MarketWatch. While the firm does not come under any regulatory oversight, this is common among prop firms as traders are trading with the firm’s capital as opposed to their own. All trades are executed on a live account through Topstep’s regulated broker.
How Much Can You Make With Topstep Trader?
Your potential earnings with Topstep ultimately depend on your ability to meet profit targets, but the 90% profit share is more generous than that offered by many other prop firms, meaning you will take home a bigger income here than you might elsewhere.
>> Sold on Topstep? Sign up TODAY! <<
Topstep’s Account and Pricing
Once you’ve chosen an account, the price will remain the same for the duration of your Trading Combine, until you qualify for funding. Prices are laid out in the table below.
What is the total cost to pass the Topstep Trading Combine?
The Trading Combine membership can be secured for as little as $49 monthly. It will remain at that price every subsequent month until you qualify for funding. At this point, traders are charged a one-off activation fee of $149, regardless of account size. Following this, there are no additional charges – just payouts!
What data is included in the subscription?
Level 1 data is included, and Level 2 data can be bought for a fee of $39 monthly.
Does resetting the account change or cancel the next subscription rebill date?
Resetting your account doesn’t alter the date you will be billed – or prevent your subscription rebill from occurring. The monthly Trading Combine subscription fee and the reset charge are independent of each other and one has no bearing on the other. The image below provides more details but do note that new traders enjoy 50% off their initial subscription reset.
| Account Size | Monthly Membership Cost | Reset Price |
| $50K Combine | $49 /month | $49 /reset |
| $100k Combine | $99 /month | $99 /reset |
| $150k Combine | $149 /month | $149 /reset |
- Up to 5 Express Funded Accounts (XFA)
- Automated XFA Creation within minutes
Topstep Traders pay a one-off activation fee of $149 per Express Funded Account when they successfully complete the Trading Combine, regardless of account size.
- Provides access to capital with a funded account for traders who might otherwise not have any.
- A reputable firm with a stellar decade-long track record.
- Unique feature of Topstep TV, streaming live every Monday to Friday
- Funded traders retain the entirety of their initial $10,000 in profits and a 90% profit share subsequently.
- Complimentary coaching programs aimed at guiding traders towards success with Topstep.
- Trading simulator enforces rigorous trading standards and helps minimise risks.
- Generous 20% discount offer when you purchase your first Trading Combine, with no code required.
- First-rate customer service team, offering support via email, phone, screen share and live chat.
- Up to 5 Express Funded Accounts (XFA)
- Focuses exclusively on futures trading.
- Discounts are only offered occasionally.
>> Think Topstep Trader is right for you? Sign up NOW! <<
Conclusion
All in all, we rate Topstep as the best futures prop trading firm for traders looking to simultaneously refine their market strategies and maximise their profits. Traders have access to a huge wealth of educational resources and will benefit from remarkably flexible trading rules. The substantial 90% profit share is big step up from the 80/20 split offered by other leading firms. And a 20% discount for all new traders is the icing on the cake. Topstep offers a highly appealing proposition which we believe it to be the best choice in futures prop trading space. However, even though we rate Topstep as our number one choice in the futures prop trading space, it is important to note that Topstep has many competitors, such as Apex Trader Funding, and MyFundedFutures. Each one of these prop firms offer access to multiple account options for undercapitalized and aspiring funded traders, enabling them to perform in the futures market. Just as Topstep Trader, these prop firms grant you access to sophisticated trading platforms and futures contracts as well as offering attractive payout structures.
To learn more, dive deep into all the information you need with our comprehensive prop firm reviews:
Topstep FAQs
What is Topstep’s Payout Policy?
Topstep has the best payout policy in the industry that allows disciplined traders to take weekly payouts. The best part? You get access to 100% of your profits after accumulating 30 winning trading days.
Traders can request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. A winning trading day is counted when a day’s Net PNL is $200 or more.
Read more here.
How can I Request a Payout?
You can submit a request through this form in our app. Payouts are processed daily, but may take up to 10 business days to receive.
When a payout is requested and approved, and all appropriate forms are submitted (ACH / Wire / SWIFT info & KYC documents), we will remove the funds from the trader’s account. Topstep will then start the process of sending the funds to the trader. Your Payout arrival will depend on the payment method.
The available payout methods are:
ACH: up to 10 business days
International Wire/SWIFT: up to 3-5 business days
These transfer times are only estimates and may be impacted by additional reviews or requests for information at the discretion of the payment providers or the Finance & Compliance Team. Most payment providers, especially banks, do not process payments on weekends and public holidays.
*Minimum Payout Request is $125.00.
What is the Profit Split?
Traders will receive 100% of the profits from payouts, up to $10,000. After the first $10,000 of funds have been received by the trader, the profit split will become 90/10, with the trader receiving 90% of payouts and Topstep® retaining 10% of the requested payout. The payout policy is per trader and can be across multiple Funded Accounts. You will keep 100% of your profits until your payouts across Funded Accounts cumulatively add up to $10,000. Once your cumulative payouts exceed $10,000, you will be subject to the 90/10 profit split.
Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).
Once the payout request is processed, the Maximum Loss Limit will automatically be set to $0 (the trader cannot allow the account balance to reach or go below $0 after a payout).
Can I trade Forex?
Topstep does not offer Forex trading, our program is for Futures trading only. However, we highly recommend Foreign Exchange Futures to anyone with a Forex trading background. Learn more about the advantages of trading Futures and FX Futures here!
How do I Reset my Trading Combine?
You can reset your account at any time during your subscription to change the status of your account from ineligible to eligible by purchasing a Reset through your Trader Dashboard.
You will also have the option to practice on the account and reset it at a later date. We allow traders to do this on an account that is not eligible for funding so that they can iron out their strategy before trying for funding again.
Although the reset never feels good, it emulates the feeling of losing real capital in the market at a fraction of the cost of real losses you might experience in a traditional brokerage account.
