Topstep Review 2026

Rules

Drawdown / Max Loss

Type of Drawdown: End-of-Day Trailing (Trading Combine and Express Funded Account) / Fixed Floor (Live Funded Account)

The Maximum Loss Limit (MLL) is the only hard rule across all three account stages. It represents the lowest point an account balance is allowed to reach. If the balance hits or breaches that level at any point during the trading day (including unrealized losses), positions are liquidated immediately.

The MLL updates at the end of each trading day based on the highest end-of-day balance achieved, but is monitored in real time throughout the session. Both realized and unrealized P&L count toward it.

Trading Combine:

The account starts at the full account size (e.g., $50,000 for a 50K Combine). The MLL begins at the account size minus the drawdown amount and trails upward as the end-of-day balance grows. Once the MLL reaches the original starting balance, it locks there permanently.

Account Size	Starting Balance	Maximum Loss Limit	Drawdown Amount
$50K	$50,000	$48,000	$2,000
$100K	$100,000	$97,000	$3,000
$150K	$150,000	$145,500	$4,500

Consequence of breaching the MLL in the Trading Combine: The account is immediately liquidated for the rest of the trading day and becomes ineligible for funding until reset. Practice trading remains available.

Express Funded Account (Simulated Funded Account):

The XFA starts at a $0 balance, so the MLL begins in negative territory and trails upward as the account grows. Once the balance reaches the drawdown amount (e.g., $2,000 for a 50K XFA), the MLL locks permanently at $0. After the first payout is taken, the MLL is also set to $0 from that point forward.

Account Size	Starting Balance	Starting MLL	MLL Locks at $0 When Balance Reaches
$50K	$0	-$2,000	$2,000
$100K	$0	-$3,000	$3,000
$150K	$0	-$4,500	$4,500

Consequence of breaching the MLL in the Express Funded Account: The account is permanently closed. Back2Funded reactivation may be available (up to 2 times under specific conditions).

Live Funded Account:

In the Live Funded Account, the MLL equates to the liquidation value and is based on the tradable account balance. The account is permanently closed at the end of the trading day if the MLL is breached.

If the Live Funded Account balance drops below $1,000 at any point, the account is liquidated immediately and closed at the end of that trading day. The remaining balance is sent as a final payout before closure.

Daily Loss Limit:

The Daily Loss Limit (DLL) is a soft breach mechanism, not a hard rule. If the net P&L hits or exceeds the DLL during the trading day (5:00 PM CT to 3:10 PM CT), the account is auto-liquidated for the remainder of that session. Pending orders are canceled and no new trades can be placed until the next session at 5:00 PM CT. This does not count as a rule violation.

Trading Combine and Express Funded Account: The DLL is optional and can be set by the trader at purchase or configured manually in Risk Settings on TopstepX (formerly ProjectX). If set at purchase, it is fixed and cannot be changed or removed. If set manually via Risk Settings, it can be adjusted or removed.

Optional DLL parameters if chosen at purchase:

• $50K account: $1,000
• $100K account: $2,000
• $150K account: $3,000

Live Funded Account: The DLL is mandatory and automatically applied, with starting values based on account size:

• $50K account: $2,000
• $100K account: $3,000
• $150K account: $4,500

Dynamic DLL adjustments in Live Funded Accounts based on tradable balance:

• If tradable balance drops to $10,000 or below: DLL set to $2,000, Maximum Position Size set to 5
• If tradable balance drops to $5,000 or below: DLL set to $1,000, Maximum Position Size set to 3

These adjustments occur at the end of each active trading day and reverse once the balance recovers above the respective threshold.

Daily Loss Limit calculation: Based on net P&L from the start of the trading session (5:00 PM CT). The DLL is monitored in real time.

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Consistency Rule

Trading Combine:

A Consistency Target applies as an objective (not a rule). The trader’s single best day of profit must not exceed 50% of total profits earned in the Combine. Specifically:

• Best Day Profit / Overall Profit must remain at or below 50%
• If the best day exceeds 50% of total profits, the Profit Target increases accordingly
• Formula to calculate the new required Profit Target: Best Day Profit / 0.50 = Total Profit Needed
• The best day value locks in at 3:10 PM CT at the end of each trading session
• Losses and drawdowns do not reset the best day figure
• The Consistency Target applies regardless of whether the account balance is above or below the starting balance
• A trader can pass the Combine in as few as 2 days if no single day exceeds 50% of total profits and the Profit Target is met

Recommended best-day limits to avoid triggering a Profit Target increase:

Account Size	Profit Target	Best Day Recommendation
$50K	$3,000	Less than $1,500
$100K	$6,000	Less than $3,000
$150K	$9,000	Less than $4,500

Express Funded Account Standard: No Consistency Target applies.

Express Funded Account Consistency (optional path):

Traders who choose the Consistency path must meet a 40% consistency requirement before requesting a payout. Consistency is calculated as:

• Largest Winning Day / Current Total Net Profit must be 40% or less
• A minimum of 3 trading days must be completed (with at least one trade per day) during each payout window
• After a payout is taken, the consistency calculation resets and applies only to profits earned after that payout
• If the account balance is negative, consistency tracking is not active until positive profit is built

Live Funded Account: No Consistency Target applies.

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Leverage

Trading Combine:

Position limits in the Trading Combine are based on account size. Micros and minis are calculated at a 10:1 ratio toward the limit on TopstepX (1 mini = 10 micros). On third-party platforms, micros count as full lots (1 micro = 1 lot).

Account Balance	Max E-mini Contracts	Max Micro Contracts
$50K	5	50
$100K	10	100
$150K	15	150

Note: The micro column reflects the total micros allowed when trading exclusively micros at the 10:1 ratio on TopstepX. Any combination of minis and micros must total within the mini equivalent limit (e.g., on a $50K account: 3 minis + 20 micros = 5 mini equivalents is allowed).

Special product weightings:

• Micro Silver (SIL) uses a 5:1 ratio to Silver (SI), so each SIL counts as 2 regular micros
• Micro Bitcoin (MBT) is capped at the same lot sizes as minis rather than standard micro scaling
• Micro Ether (MET) is also capped at mini lot sizing rather than standard micro scaling

If the position limit is exceeded, orders may be rejected. Exceeding the limit by accident and correcting within 10 seconds will generally not result in a penalty. Positions held over limit for 10 seconds or more may trigger a review.

Express Funded Account:

Position limits are governed by the Scaling Plan, which replaces the fixed Maximum Position Size from the Trading Combine. The Scaling Plan sets contract limits based on the current end-of-day account balance. The XFA starts at a $0 balance, so initial contract limits are lower and increase as profits are built. The Scaling Plan level updates at the start of each new trading session (not within the same session). Traders cannot trade their full Combine-level position size until they have built sufficient balance.

Position limits under the Scaling Plan follow the same micro/mini ratio rules as the Trading Combine. Scaling Plan errors corrected within 10 seconds are generally not penalized.

Live Funded Account:

Starting July 22, 2025, the Scaling Plan in the Live Funded Account was replaced with Dynamic Live Risk Expansion. Maximum Position Size in the Live Funded Account is tied to the tradable balance thresholds:

• If tradable balance drops to $10,000 or below: Maximum Position Size set to 5
• If tradable balance drops to $5,000 or below: Maximum Position Size set to 3

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Trading Hours

Session hours (all account stages):

• Trading opens Sunday at 5:00 PM CT
• All positions must be closed and all pending orders are canceled at 3:10 PM CT every weekday (Monday through Friday)
• Trading resumes at 5:00 PM CT the same evening (Monday through Thursday)
• Friday: markets close at 3:10 PM CT and remain closed through the weekend until Sunday at 5:00 PM CT
• The trading day is defined as 5:00 PM CT through 3:10 PM CT the following calendar day (meaning trades placed at 6:30 PM CT on Tuesday count toward Wednesday’s trade report)

Overnight and weekend positions: Not permitted. Topstep does not allow swing trading or holding positions from one session to the next. All positions must be closed before the 3:10 PM CT daily cutoff.

Hard position close: Risk Managers begin flattening positions at 3:08 PM CT as a courtesy. Traders are still responsible for ensuring they are flat by 3:10 PM CT. Positions remaining open at 3:10 PM CT are auto-liquidated.

Product-specific close times: Some futures contracts close before 3:10 PM CT. Traders must exit those products before their individual daily close:

• CBOT Commodity Products (Wheat, Corn, Soybeans, Soybean Meal, Soybean Oil): Sunday to Monday 7:00 PM to 7:45 AM CT and Monday to Friday 8:30 AM to 1:20 PM CT
• CME Agriculture Products (Live Cattle, Lean Hogs): Monday to Friday 8:30 AM to 1:05 PM CT
• CBOT Commodity market pause (all weekdays): 7:45 AM to 8:30 AM CT. No orders accepted during this window

News / economic releases: Trading during news events is permitted but not required. Topstep no longer mandates flattening positions for economic releases. Traders are strongly advised to use caution. Trades impacted by economic releases are not eligible for review, exceptions, or credits. Purposefully trading at maximum position size into a major news event is listed as a prohibited trading strategy.

Market holidays: Holiday trading hours follow the CME schedule. Positions must be closed 15 minutes before any early close (e.g., by 11:45 AM CT for a 12:00 PM CT close). Topstep sends email notices ahead of each holiday. Full 2026 holiday schedule is published in the help center.

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Multiple Accounts

Trading Combine (Evaluation):

• No limit on the number of active Trading Combines at any one time
• Maximum of 20 new Trading Combine subscriptions can be purchased per calendar month (refunded or canceled Combines still count toward the monthly limit)
• Resets are limited to 2 per account per calendar day
• All Trading Combines must be held under a single Topstep profile. Multiple Topstep profiles for the same trader is a violation of Terms of Use and can result in account closure or suspension

Express Funded Account (Simulated Funded Account):

• Maximum of 5 active Express Funded Accounts at the same time
• Traders can hold a mix of XFA Standard and XFA Consistency accounts, provided they are not in the Focused Trader Program
• If the 5-account limit is reached when a new Trading Combine is passed, the new XFA is placed on hold until an active account closes

Live Funded Account:

• Traders are permitted to have 1 active Live Funded Account at a time

Single profile requirement: All accounts (Trading Combines, Express Funded Accounts, and Live Funded Accounts) must be operated under one Topstep profile. Creating a second profile is prohibited.

Separate credentials: Multiple profiles or email addresses are not permitted. Name or email changes should be handled through Trader Support, not by creating a new profile.

Trade copiers: Trade copying is permitted within Topstep accounts using the built-in TopstepX Copy Trading feature. A Lead account (where trades originate) can copy to one or more Follower accounts. Key conditions:

• The Lead account must have the lowest Maximum Position Size among all accounts being used
• While connected as a Follower, direct trading on the Follower account is blocked
• Disconnecting the trade copier during an active trade immediately flattens all Follower accounts
• If the Lead account hits its MLL, DLL, or is auto-liquidated, the Trade Copier turns off and must be manually re-enabled
• When a payout request is submitted, Follower accounts are automatically unlinked
• Copy trading that results in cross-account hedging remains subject to the hedging policy

Consequences of prohibited account conduct: Range from warnings and trade day deletions to account reset, payout denial, or permanent closure depending on severity and history.

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Prohibited Conduct

Prohibited Conduct is handled on a case-by-case basis (not with a fixed outcome like rule violations). Potential consequences include:

• A simple warning
• Deletion of the impacted trading day
• Account reset (no fee is charged for resets resulting from Prohibited Conduct violations)
• Permanent account closure
• Delay or denial of a payout request

Prohibited conduct includes but is not limited to:

Hedging:

• Cross-account hedging: holding opposite positions simultaneously across multiple Topstep accounts (Combines, XFAs, or LFAs) in the same or highly correlated instruments is prohibited
• Single-user hedging across accounts is prohibited
• Multi-user hedging in concert with third parties is prohibited
• Hedging detection occurs in real time. First detection triggers a warning modal with a brief window to un-hedge. Failure to un-hedge results in auto-liquidation and account flagging. A second occurrence on the same day results in a Temporary Hedging Violation and trading block for the remainder of the session. A subsequent violation after acknowledgment of the policy results in a Permanent Hedging Violation and account closure

Algorithmic and automated trading:

• Automated and algorithmic strategies are permitted in the Trading Combine and Express Funded Account, with restrictions
• Using software, AI, ultra-high speed, or mass data entry to gain an unfair advantage is prohibited
• Running automation on a VPS or remote server is strictly prohibited. All trading must originate from the trader’s own personal device
• Scalping algorithms designed to exploit unrealistic SIM fills are prohibited
• High-frequency trading that takes advantage of preferential queue position in the simulator is prohibited
• Exploiting the relative lack of slippage in the simulator (e.g., using tight brackets or auto-breakeven to profit from favorable fills) is prohibited

Trading conduct:

• Trading outside the best bid or offer is prohibited
• Using an external or slow data feed is prohibited
• Performing trades that contradict how trading is actually conducted in live futures markets is prohibited
• Holding a position within 2% of a product’s price (lock) limit is prohibited
• Purposefully trading at maximum position size into a major news event is prohibited
• Account stacking: repeatedly hitting the MLL on one account and switching to another to continue high-risk trading is prohibited
• Intentionally depleting the Live Funded Account balance to force a failure is prohibited

Other prohibited conduct:

• Trading on behalf of another person or sharing incentives as part of a business arrangement is prohibited
• Circumventing geographic restrictions or any other technical restrictions is prohibited (including the use of VPNs)
• Spoofing or disruptive order practices are prohibited
• Exploiting errors, bugs, or deficiencies in the platform or simulator is prohibited
• Sharing falsified screenshots or images is prohibited
• Initiating chargebacks against Topstep is considered unprofessional behavior and can trigger account review or suspension
• Excessive purchase of Trading Combines or Resets, or excessive use of Express Funded Accounts combined with irresponsible trading, is considered prohibited conduct

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Firm Rules (General)

Minimum trading days (Trading Combine): No minimum number of trading days is required. A trader can pass the Combine in as few as 2 days, provided the Profit Target is met and no single day exceeds 50% of total profits (Consistency Target).

Profit targets (Trading Combine):

• $50K account: $3,000
• $100K account: $6,000
• $150K account: $9,000

Permitted exchanges and asset classes: All products are CME Group futures contracts. Topstep does not offer forex trading in the traditional sense (no spot forex). CME FX futures (6E, 6B, 6A, etc.) are tradable. Available product categories include:

• CME Equity Futures: ES, MES, NQ, MNQ, RTY, M2K, NKD, MBT, MET
• CME FX Futures: 6A, 6B, 6C, 6E, 6J, 6S, E7, M6E, M6A, 6M, 6N, M6B
• CME Agricultural Futures: HE, LE
• CME NYMEX Futures: CL, QM, NG, QG, MCL, RB, HO, PL, MNG
• CBOT Agricultural Futures: ZC, ZW, ZS, ZM, ZL
• CBOT Equity Futures: YM, MYM
• CBOT Financial / Interest Rate Futures: ZT, ZF, ZN, TN, ZB, UB
• CME COMEX Futures: GC, SI, HG, MGC, SIL, MHG

Age requirement: Traders must be at least 18 years old.

Geographic restrictions: Traders from OFAC-sanctioned countries are ineligible. Some countries can access Trading Combines and Express Funded Accounts but not Live Funded Accounts (including Albania, Bolivia, Germany, Ghana, Hong Kong, and others listed in the eligibility article). Payouts for traders in XFA-only eligible countries are capped at $200,000 total lifetime.

Reset fee structure:

Standard Path resets:

• $50K: $49
• $100K: $99
• $150K: $149

No Activation Fee Path resets:

• $50K: $109 (updated to this price as of April 28, 2026)
• $100K: $159 (updated to $149 as of April 28, 2026 for new purchases)
• $150K: $209 (updated to $229 as of April 28, 2026 for new purchases)

Resets are limited to 2 per account per calendar day. Each monthly rebill adds one Reset Credit to the Reset Bank. Reset Credits expire 1 year after issuance and are tied to a specific account size and path. Resets are not available for Express Funded Accounts or Live Funded Accounts (Back2Funded reactivation is a separate mechanism for XFAs). Resets are not refundable.

Free reset policy: Topstep occasionally offers free resets through TopstepTV and newsletter promotions. A Responsible Trading Discount applies when a Daily Loss Limit is added at purchase on No Activation Fee Trading Combines: $10 off the 50K, $20 off the 100K, $30 off the 150K.

Additional Rules

Focused Trader Program: Topstep may place traders in a structured program if unsustainable trading behavior is identified (excessive account losses, prohibited conduct with multiple warnings, excessive resets or Combine purchases). Two paths exist:

• Corrective Path: limited to one active $50K account for 6 months, pending demonstrated consistent, responsible trading and $10,000 in net Live Funded Account profits before reinstatement to multiple accounts
• Slowdown Path: no six-month restriction, but must reach $10K in net Live Funded Account profits or demonstrate good behavior before a Risk Team review

Responsible Trading Program: Traders exhibiting unsustainable behavior (maxing position size most trades, no stops, disrespecting daily limits, etc.) may be placed in this program to guide risk management and discipline before any further escalation.

Back2Funded: A reactivation mechanism for lost Express Funded Accounts. Available up to 2 times, with the account restarting from $0 balance and a fresh MLL as if it were a brand new XFA of the same size. All prior stats, P&L, and winning days reset to zero.

Price lock limit: Topstep prohibits trading within 2% of any product’s price (lock) limit.

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Activation Fee

Topstep offers two evaluation paths with different approaches to the activation fee:

Standard Path: Lower monthly subscription cost. A one-time Activation Fee of $149 is charged per Express Funded Account earned upon passing the Trading Combine.

• $50K: $49/month + $149 Activation Fee
• $100K: $99/month + $149 Activation Fee
• $150K: $149/month + $149 Activation Fee

No Activation Fee Path: Higher monthly subscription cost. No Activation Fee is charged when the trader passes.

Pricing for No Activation Fee path (updated April 28, 2026):

• $50K: $95/month
• $100K: $149/month
• $150K: $229/month

The $149 Activation Fee applies only to the Standard Path and is charged once per Express Funded Account earned. Any Express Funded Account activated on or after February 5, 2026 uses the $149 fee. The fee is payable by credit or debit card. The fee is the same for both XFA Standard and XFA Consistency account types.

Live Funded Account: The activation fee structure does not apply to the Live Funded Account. Traders called up to Live are subject to CME Professional Data subscription fees (charged monthly via credit card) and round-turn commissions.

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Commissions

All information about the commission structure can be found here:

• Trading Combines and Express Funded Accounts: https://help.topstep.com/en/articles/8284213-what-are-the-commissions-and-fees-in-the-trading-combine-and-express-funded-account
• Live Funded Accounts: https://help.topstep.com/en/articles/8284231-what-are-the-commissions-and-fees-in-the-live-funded-account

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Payout Policy

Profit split: 90/10 across all account types. Traders receive 90% of approved payouts; Topstep retains 10%. This is calculated per trader, not per account. Traders who joined before January 12, 2026 continue to receive 100% of the first $10,000 in lifetime profits before the 90/10 split applies.

Express Funded Account Standard:

Eligibility requires:

• At least 5 winning trading days ($150 or more net P&L per day, non-consecutive)
• A profit greater than $0 since the last payout (does not apply to the first payout)
• Payout day counts as a new day starting 5:00 PM CT and does not count as a winning day toward the next eligibility window

Maximum payout per request: 50% of account balance, subject to per-account caps:

• $50K account: up to $2,000
• $100K account: up to $3,000
• $150K account: up to $5,000

Express Funded Account Consistency:

Eligibility requires:

• At least 3 trading days (with at least one trade per day) where the largest single-day profit does not exceed 40% of total net profit during the payout window
• Consistency is calculated on net profit only

Maximum payout per request: 50% of account balance, subject to per-account caps:

• $50K account: up to $3,000
• $100K account: up to $4,000
• $150K account: up to $6,000

After each payout on either XFA path, the trader’s MLL is set to $0 and a new payout window begins (5 winning days for Standard, 3 consistency days for Consistency path).

Live Funded Account:

• Eligibility: 5 winning trading days of $150 or more net P&L per request (non-consecutive; prior winning days do not carry over after a payout is taken)
• Maximum payout per request: up to 50% of account balance (no per-account dollar cap applies)
• After 30 non-consecutive winning days in the Live Funded Account, Daily Payouts unlock: traders can request up to 100% of their balance once per day, with a minimum of $125 per request
• Winning days from Express Funded Accounts do not count toward the 30-day total
• Requesting 100% of balance will close the Live Funded Account since the balance reaches the MLL

Processing and submission:

• Payouts are requested through the Topstep Dashboard during CME market hours (Sunday 5:00 PM CT to Friday 5:00 PM CT, excluding holidays)
• Approval takes 1 to 3 business days; funds arrive within 10 business days after approval
• Minimum payout request: $125
• Payout day is locked in at 4:00 PM CT after market close

Payment methods and fees:

Method	Availability	Processing Time	Fee
Aeropay	US banks only	Instant after approval (where supported)	No fee from Topstep
Wise	International and domestic	1 to 3 business days	No fee from Topstep
ACH	US banks only	1 to 3 business days	$30 processing fee
International Wire / SWIFT	International	5 to 10 business days	$30 processing fee

The $30 processing fee for ACH and Wire applies in addition to the 90/10 profit split. Example: a $500 payout request via ACH would net $420 ($50 retained via profit split + $30 processing fee deducted).

Geographic restrictions: Payout eligibility and method availability vary by country. Traders in countries ineligible for Live Funded Accounts are capped at $200,000 in total lifetime payouts from Express Funded Accounts.