Topstep Review 2026: The OG Prop Firm That Invented This Whole Game

Bottom Line Up Front: Topstep is the granddaddy of futures prop firms, they literally invented the “Trading Combine” evaluation model back in 2012 that everyone else copied. With their new 1-step evaluation (replacing the old 2-step), you can get funded in as little as 2 days. The deal: keep your first $10K in profits (100%), then 90% after that. The catch? A tight 4% max loss limit (though it’s calculated end-of-day, not intraday). With 4.3 stars on Trustpilot from 11,500+ reviews and a 12.4% pass rate, Topstep sits firmly in “industry leader” territory. They’re not always the cheapest (yet, often they are), not the most lenient, but they’re the most established futures prop firm with the best educational ecosystem. If you’re serious about futures trading as a career, this is where you start.

My Rating: 4.5/5 Stars

What Is TopStep, Really?

Let’s get one thing straight: Topstep isn’t just another prop firm. They’re the prop firm. Founded in 2012 in Chicago (where else would a futures trading company start?), these guys came straight out of the CBOT trading pits and created the entire “funded trader evaluation” business model that literally every other prop firm copied.

Think about that. Before Topstep, your options for trading futures were:

1. Risk your own capital
2. Work for an actual prop trading firm (good luck getting hired)
3. That’s it

Topstep changed the game by saying “prove you can trade consistently in a sim, and we’ll give you real capital.” It was revolutionary then, and it’s still the gold standard now.

The company has evolved significantly since 2012. They rebranded from “TopstepTrader” to just “Topstep” in 2020, modernized their platform, and in 2023 dropped the bombshell: switching from a 2-step evaluation to a 1-step model. The prop firm community went absolutely insane, TopStep had to pause new signups for two weeks because demand was so high.

Today, Topstep has funded over 10,000 traders and paid out millions in profits. They’re based in Chicago, they’re ranked #1 by Traders Union out of 40 prop firms, and they get 368,000 Google searches per month. This isn’t some garage operation, this is institutional-level legitimacy.

The Trading Combine: Your Evaluation (Now Just One Step)

Most prop firms still make you jump through two evaluation hoops. Topstep said “screw that” and condensed it into a single Trading Combine. Here’s how it works.

The Three Account Sizes

You pick your starting capital level, and that determines your monthly cost, profit target, and loss limits:

$50K Trading Combine

• Monthly fee: $49
• Profit target: $3,000 (6%)
• Max loss limit: $2,000 (4%)
• Daily loss limit: $1,000
• Maximum position size: 5 contracts (varies by product)

$100K Trading Combine

• Monthly fee: $99
• Profit target: $6,000 (6%)
• Max loss limit: $3,000 (3%)
• Daily loss limit: $2,000
• Maximum position size: 10 contracts

$150K Trading Combine

• Monthly fee: $149
• Profit target: $9,000 (6%)
• Max loss limit: $4,500 (3%)
• Daily loss limit: $3,000
• Maximum position size: 15 contracts

Notice something? The profit target is a consistent 6% regardless of account size. That’s reasonable, you’re not being asked to double the account or pull off miracle trades.

Please note, the above prices are only valid for challenges that end up in a one-time activation fee, once funded. That means if you do one of those lower-cost challenges, you pay an $129 activation fee once you completed the 1-step challenge.

If you want to avoid the one-time activation fee of $129, you can do that by chosing the higher-priced challenges, which have the same rules, but the different pricing and $0 activation fee:

• $50 Trading Combine: $89
• $100 Trading Combine: $139
• $150 Trading Combine: $189

The Rules (Simple, But Strict)

Topstep made their evaluation deliberately simple. There’s really only one hard rule that’ll kill your account instantly:

Don’t exceed the Maximum Loss Limit (MLL)

That’s it. Blow past your max loss, and you’re done. No appeals, no “but I was about to recover!” excuses. You fail.

But here’s what makes Topstep different from most firms: the MLL is calculated at end of day, not intraday.

What does this mean in practice? If you’re trading the $50K account with a $2,000 max loss, you can be down $1,800 intraday and fight your way back to positive before 4 PM CT. With firms that use “intraday trailing drawdown” or “high-water mark” rules, you’d be instantly liquidated at $2,000 down, game over, no recovery possible.

This end-of-day calculation gives you breathing room. It respects the fact that futures can move violently intraday, and good traders can manage their way out of tough positions. It’s a more realistic simulation of professional trading.

The Objectives (Not Rules, But You Need Them to Pass)

These aren’t “break them and you fail” rules, they’re targets you must hit:

1. Hit Your Profit Target Make your $3K, $6K, or $9K depending on account size. There’s no time limit. Take as long as you need (though you’re paying monthly, so dragging it out costs you).

2. Trade a Minimum of 5 Days You can’t just get lucky with one massive winner and cash out. Topstep wants to see at least 5 days of activity. This can be done in a week if you trade daily.

3. Meet the Consistency Target Here’s the rule that trips people up: No single trading day can account for more than 50% of your profit target.

Let’s break this down with an example. You’re in the $50K combine with a $3,000 profit target. You have an absolutely monster day and make $2,000 profit.

Problem: $2,000 is 66% of your $3,000 target. It exceeds the 50% threshold.

Solution: You need to keep trading until your total profits reach $4,000 or more. At that point, your $2,000 day represents 50% or less of your total.

Topstep even provides a “Consistency Target Calculator” to help you figure out the math. The point of this rule? They want to see consistent performance, not lottery-ticket trading. One home run doesn’t make you a professional trader, repeatability does.

4. Daily Loss Limit This resets every day at market open. For the $50K account, it’s $1,000. Blow through this number, and your account is frozen for the rest of that trading day. Come back tomorrow and try again.

Unlike the Maximum Loss Limit (which ends your combine), the Daily Loss Limit is just a timeout. It’s annoying, but not fatal.

Position Sizing: The Scaling Plan

You can’t just load up with maximum contracts on day one. Topstep uses a “Scaling Plan” that gradually increases your allowed position size as your account balance grows.

For example, in the $50K account:

• Starting out: 2 contracts max
• After hitting $51,500: 3 contracts
• After hitting $53,000: 4 contracts
• And so on, up to your maximum (5 contracts for most products)

This is smart risk management. It forces you to prove yourself with smaller size before unlocking bigger positions. Can’t argue with the logic, even if it feels restrictive when you’re on a hot streak.

Trading Hours & Prohibited Activity

You’re trading during standard CME Group hours. Depending on the product, this can mean nearly 24-hour access to markets.

What you cannot do:

• Hold positions overnight (all positions must be closed by end of day)
• Exploit the simulation (slow data feeds, connected accounts, etc.)
• Use scalping algorithms that abuse lack of slippage in the sim
• Copy trades across multiple accounts (hedging between accounts)

Topstep monitors for “prohibited conduct” aggressively. If they catch you gaming the sim, trying to exploit the fact that it’s not a live market, your account gets shut down immediately and you’ll likely be banned. They publish statistics showing less than 1% of traders called up from Express Funded to Live Funded actually make it, partially because they’re removing anyone they suspect of cheating.

After You Pass: The Two-Tier Funded System

This is where Topstep gets interesting. Unlike most firms that just give you “a funded account,” Topstep has a two-stage system: Express Funded → Live Funded.

Express Funded Account (Stage 1)

Pass your Trading Combine, pay a one-time $149 activation fee, and boom, you’re in an Express Funded Account. Setup takes 1-2 business days.

Here’s the twist: This is still a simulated account. Your orders aren’t hitting the real market. But the profits you make are real, and you can withdraw them.

Wait, what? How does that work?

Topstep takes your simulated trades and uses that data to inform their actual live trading through their partner firms. Your trading activity generates real P&L for them, and they share that profit with you. It’s a clever risk management structure, they’re not directly giving you live capital yet, but you’re earning real money based on your sim performance.

Express Funded Account Rules:

• No profit target (just keep trading profitably)
• No consistency target (trade however you want)
• Same max loss limit as your Trading Combine
• Same daily loss limit
• Follow the Scaling Plan for position sizes

Payouts from Express Funded: You can request a payout after accumulating 5 winning days of $150+ profit each. You can take up to 50% of your account balance or $5,000, whichever is lower.

The payout schedule is weekly on Wednesdays. That’s better than most firms doing monthly payouts.

Multiple Express Funded Accounts: Here’s where it gets wild: You can have up to 5 Express Funded Accounts simultaneously.

Want to trade ES on one account, NQ on another, and crude oil on a third? Go for it. Each account is independent with its own P&L and payout eligibility.

This is huge for traders who want to diversify strategies or trade multiple markets. Just don’t try to hedge between accounts, that’s prohibited and will get you banned.

Live Funded Account (Stage 2)

If you show consistent performance in your Express Funded Account(s), Topstep’s risk managers will reach out with an offer to move you to a Live Funded Account.

This is the real deal. Your orders hit the actual market. You’re trading real capital through Topstep’s brokerage partner (Equiti Capital, an NFA-regulated broker).

Who gets called up to Live? Topstep doesn’t publish exact criteria, but based on trader reports, it seems to be:

• Consistent profitability over multiple weeks/months
• Clean trading (no rule violations, no suspicious activity)
• Growing account balance in Express Funded
• Good risk management demonstrated

The call-up rate is brutal: Only 0.96% of Express Funded traders get called to Live. That’s less than 1 in 100. This isn’t because Topstep is stingy, it’s because most traders either:

1. Blow their Express accounts
2. Show inconsistent results
3. Were exploiting the sim and get caught

Live Funded Account Starting Balance: Your starting balance is based on your Express Funded performance:

• If you have one Express account, you bring over that balance (capped at account size)
• If you have multiple Express accounts, you bring over the combined balance (capped at your largest account size)

Examples:

• Three $50K Express accounts with $20K each → Start Live with $50K (capped at max)
• One $150K Express with $80K + One $50K Express with $30K → Start Live with $110K
• One $100K Express with $120K → Start Live with $100K (capped at account size)

Live Account Rules: Same rules as Express, but with one massive difference: The max loss limit is now calculated intraday based on unrealized P&L, not end-of-day.

This is a significant change. In Express and Trading Combine, you get end-of-day calculation. In Live, if your unrealized losses hit the threshold, you’re immediately liquidated. This is because they’re protecting real capital now.

Live Account Payouts:

• 50% of account balance (no dollar cap like Express)
• Daily payouts available after 30 winning days
• Unlimited growth potential (your account can scale infinitely as you profit)

This is where the “90% profit split” really shines. In Live, there’s no profit cap. Make $100K in a year? You keep $90K (after the first $10K at 100%). That’s life-changing money.

The Profit Split: 100% First, Then 90/10

Topstep’s profit structure is genuinely industry-leading:

First $10,000: You keep 100% (all of it)
After $10,000: You keep 90%, Topstep keeps 10%

Most prop firms do flat 80/20 or 70/30 splits. Topstep giving you the first $10K completely is a massive advantage for newer funded traders trying to build capital.

Example: You make $25,000 in profits over six months.

• First $10,000: You keep $10,000 (100%)
• Next $15,000: You keep $13,500 (90%)
• Total: You take home $23,500 out of $25,000

That’s a 94% effective profit split on $25K. Most firms would give you $20K (80%) or less.

The Trading Platforms: TopstepX and 15+ Others

Topstep supports more platforms than any other prop firm. Let’s break them down.

TopstepX (Proprietary Platform – Recommended)

This is Topstep’s own platform, launched in recent years and still technically invite-only (though most traders seem to get access easily enough).

Why it’s good:

• Built specifically for prop trading
• Commission-free (huge cost savings)
• Level 1 data included free
• Level 2 data available for $39/month
• Instant trade execution stats and performance tracking
• Designed around Topstep’s rules (shows MLL, daily loss, profit target in real-time)
• Web-based (no download needed)
• Copy trading supported

Why some traders hate it:

• Less customizable than NinjaTrader or other advanced platforms
• Newer platform, occasional bugs
• Some traders report the interface feels “dumbed down” compared to pro tools
• Limited charting compared to dedicated platforms

My take: If you’re not a platform power-user, TopstepX is perfect. The commission-free trading alone saves you thousands. But if you’re used to NinjaTrader’s depth-of-market tools or TradingView’s charting, you might feel constrained.

NinjaTrader (Most Popular Alternative)

Free to use during Trading Combine. This is the go-to for serious futures traders who want professional-grade tools.

Pros: Incredible charting, order flow analysis, custom indicators, automated trading support
Cons: After you get funded, you’ll need to buy a license ($600-$1,200 depending on broker options)

Free Platforms in Trading Combine:

• Quantower (recommended by Topstep, excellent for order flow)
• MotiveWave
• Investor/RT
• Sierra Chart
• Finamark

Paid Platforms (You Bring Your Own License):

• Bookmap
• jigsaw Trading
• TradingView
• MultiCharts
• And about 8 others

The platform variety is legitimately impressive. Most prop firms force you into 2-3 options. Topstep gives you 16+.

The Educational Ecosystem: TopstepTV and More

This is where Topstep absolutely crushes the competition. No one else comes close.

TopstepTV

Live streaming market coverage 5 days per week, from the London open through overnight close. Professional traders breaking down price action, market analysis, and trading strategies in real-time.

This isn’t generic “buy low sell high” content. These are experienced coaches doing live trade breakdowns, answering community questions, and showing you how they’re reading the market.

The production value is insane for what’s essentially included free with your subscription. Other prop firms give you a Discord and call it “education.” Topstep has an entire TV network.

Free Group Coaching

Twice-weekly group coaching sessions. You can also request one-on-one coaching if you need specific help.

Discord Community (150K+ Members)

This is one of the largest active trading communities online. Unlike most prop firm Discords that are ghost towns or full of spam, Topstep’s is genuinely active with helpful traders, coaches, and daily discussions.

You can find accountability partners, ask questions, share charts, and learn from others. The community alone is worth the subscription price for newer traders.

Blog, Market Analysis, and Educational Content

Hundreds of articles covering technical analysis, risk management, trading psychology, and futures-specific strategies. The content is solid, not fluff or generic advice.

What Trading This Actually Feels Like

Let me walk you through a typical evaluation day, because the rules on paper don’t capture what it’s really like.

You wake up and check futures. ES is showing some volatility overnight, geopolitical news hit. You fire up TopstepX and your account dashboard immediately shows:

• Current balance: $51,200
• Today’s P&L: $0 (market just opened)
• Max loss limit: $49,200 (can’t go below this at end of day)
• Daily loss limit: $1,000 (can’t lose more than this today)
• Profit to target: $1,800 remaining

You’re in the $50K Combine and you’ve been trading for 6 days. You’re close.

ES is at 4,520. You go long 2 contracts at the open. Market immediately rips down 10 points. You’re down $1,000 on the nose, you’ve hit your daily loss limit.

Your screen flashes red. “Daily Loss Limit Reached. Trading Disabled for Today.”

Fuck.

But it’s only 9:35 AM. The market recovers by 10 AM and if you were still in that trade, you’d be up $800. Instead, you’re locked out until tomorrow.

This is the psychological grind of prop firm evaluations. You can’t just trade your way out of trouble. The rules are absolute, and they don’t care about “what could have been.”

Next day. You’re more cautious. You take 3 trades, net +$400. Good day, but you’re playing it safe because you know one big loss ends everything.

Day 8: You nail a trend trade and make $900. You’re at $2,700 profit total, $300 away from the $3,000 target.

Day 9: You make $450. You’ve hit $3,150 profit. You’ve traded 9 days (need minimum 5, check).

But wait, you check your consistency target. Your best day was $900. That’s 29% of your current $3,150 total profit. You’re good (under the 50% threshold).

You hit “Submit for Review.” Within hours, you get the notification: “Congratulations! You’ve passed your Trading Combine.”

You pay the $149 activation fee, and two days later, your Express Funded Account is live with $53,150 starting balance.

Now the real journey begins.

The Pass Rate: Let’s Talk Numbers

Topstep publishes detailed statistics, and I respect the transparency:

12.4% of all Trading Combines initiated were successfully completed (2024 data)

But here’s a more encouraging stat: 46.6% of individual participants advanced to Funded Level.

What’s the difference? The 12.4% includes people who bought a Combine, traded one day, gave up, and never came back. The 46.6% reflects actual traders who gave it a real attempt.

So if you’re a serious trader who commits to the process, you’ve got almost a 50/50 shot at passing. That’s way better than the “less than 10%” numbers other firms publish.

28.3% of funded traders received a payout

So about 1 in 3 funded traders actually make money. The rest either blow their Express accounts or can’t generate consistent profits.

0.96% of Express Funded traders were called up to Live

This is the brutal part. Less than 1% make it to Live capital. But this makes sense, Topstep is protecting real money at this stage, and they’re only calling up traders they’re confident will protect their capital.

The Trustpilot Reality Check: 4.3 Stars from 11,500+ Reviews

Let’s dig into what actual users are saying.

What People Love

Educational resources: Traders constantly praise TopstepTV, the coaching, and the community. “This platform taught me how to actually trade” is a recurring theme.

Clear, simple rules: The one-rule evaluation is appreciated. No hidden gotchas or arbitrary disqualifications. “You know exactly what you need to do.”

Fast payouts: Weekly payout processing with funds hitting accounts in 7-10 business days. Much better than monthly payout firms.

Responsive support: Multiple reviews specifically call out support team members (Sorell, Lori, Coach Hoop, Jenna, Basheer) for going above and beyond. The team seems genuinely helpful.

TopstepX platform: Love it or hate it, many traders appreciate the simplicity and commission-free trading.

Legitimate payouts: Lots of reviews from traders showing proof of withdrawals. “They actually pay you” is apparently notable enough to warrant reviews (sad commentary on the industry).

What People Complain About

Platform issues: TopstepX had some growing pains. Reports of trades not executing, dashboard glitches, and connection problems. Topstep seems to be actively fixing these, most recent reviews (2025) mention improvements.

The consistency rule: Some traders hate the 50% rule. “I made $5K in one day and now I need to make $10K total just to pass? Stupid.” Fair criticism, though I’d argue it’s working as designed.

KYC verification problems: Several reviews mention getting asked for passport verification after already being funded and taking payouts. Some had expired passports and Topstep threatened account closure. This seems like a compliance issue that could be handled more gracefully.

Subscription billing confusion: If you fail your Combine, the subscription continues until you manually cancel. Some traders forgot and got billed for months.

AWS outage voided trades: At least one review mentioned Topstep voiding all trades from a day when AWS had an outage. The trader lost profitable trades because of a server issue. Topstep’s reasoning: the data integrity was compromised. Harsh, but understandable from a risk management perspective.

Migration pressure to TopstepX: Some traders feel pushed to migrate from legacy platforms to TopstepX. The new Scaling Plan rules only apply to TopStepX, giving traders an incentive (or forcing them, depending on your perspective) to switch.

The Scam Allegations (And Why They’re Mostly Noise)

Every prop firm has “SCAM!” reviews. Topstep is no exception. The pattern:

“They voided my $70,000 in profits for relocating countries without warning!”

• Topstep operates under US regulations. If you relocate to a sanctioned country or somewhere they can’t legally operate, they have to freeze your account. It sucks, but it’s not theft, it’s legal compliance.

“My stop loss didn’t execute and I lost my account!”

• This is a platform issue, not a Topstep scam. Trading platforms can have bugs. It happens. Topstep uses third-party platforms (NinjaTrader, Quantower, etc.) and can’t control every technical issue.

“They found a reason to disqualify me after I passed!”

• When Topstep provides specifics (which they often do in responses), it’s usually “you were hedging across accounts” or “you exploited sim data feeds” or “you violated terms of service.” Traders rarely admit to the full story.

Look, Topstep has been around since 2012. They’ve funded thousands of traders and paid out millions. If they were a scam, they’d have been exposed and shut down years ago. The reality is most traders who complain broke rules they didn’t understand or tried to game the system.

The Hidden Costs: What You’re Actually Paying

Let’s break down the real all-in cost of getting funded and trading with Topstep.

Evaluation Costs

• Trading Combine: $49-$149/month (depending on account size)
• One-time activation fee: $149 (paid after passing, to activate Express Funded)

Most traders take 1-3 months to pass (if they pass at all). So budget $200-$600 in evaluation costs.

Platform Costs

• TopstepX: Free (commission-free trading, Level 1 data included)
• Level 2 Data (optional but recommended): $39/month
• NinjaTrader (if you choose this route): $600-$1,200 for license after funding (free during Combine)
• Other platforms: Varies (bring your own license)

If you use TopstepX, you’re only paying $39/month for Level 2 data. That’s incredibly cheap compared to most setups.

Reset Fees

• $50K Combine: $59
• $100K and $150K Combines: $99

Pro tip: You get a free reset with each monthly subscription rebill. So if you fail on day 28, just wait a few days for your subscription to renew and you’ll get a free reset. Don’t pay the reset fee unless you’re in a hurry.

Live Data Fees (After Moving to Live Funded)

Once you’re on a Live account, you’ll pay for CME market data:

• CME Group data: ~$105/month

This is standard for futures trading and not specific to Topstep.

Total Cost to Get Funded

Let’s say you’re doing the $50K Combine:

• Month 1: $49 (Combine)
• Month 2: $49 (Combine, fail and get free reset with rebill)
• Pass in Month 2
• Activation fee: $149
• Level 2 data: $39/month ongoing

All-in cost to funded: $286

Compare that to risking $50K of your own capital. The prop firm model makes complete sense if you have the skill but not the cash.

Who Should Actually Use Topstep?

Let’s be brutally honest about who this is for.

This Is Perfect For:

• Aspiring professional futures traders who want a career in trading
• Traders with a proven strategy who need capital to scale
• People who value education and community (TopstepTV alone is worth the subscription)
• Disciplined traders who can follow rules consistently
• Anyone who wants the “prestige” factor of passing the OG prop firm evaluation

This Is NOT For:

• Complete beginners with less than 6 months of trading experience (you’ll just burn money on failed Combines)
• Scalpers who need maximum position flexibility (the Scaling Plan will frustrate you)
• Traders who can’t handle the 4% max loss limit (it’s tight, especially in volatile markets)
• People looking for “easy money” (the 12.4% pass rate should tell you this isn’t easy)
• Swing traders who want to hold overnight positions (not allowed)
• Anyone who wants to trade forex, stocks, or crypto (futures only)

How Topstep Compares to Other Futures Prop Firms

Let’s put this in competitive context.

Topstep vs Earn2Trade

• Topstep advantage: Better educational content, larger community, 90/10 profit split vs 80/20
• Earn2Trade advantage: EOD drawdown in funded accounts (Topstep switches to intraday in Live), better for traders who want free monthly resets across all account sizes

Topstep vs Apex Trader Funding

• Topstep advantage: More established, better education, clearer rules
• Apex advantage: Cheaper evaluations, more lenient rules, faster funding

Topstep vs Leeloo Trading

• Topstep advantage: Actual evaluation process (Leeloo’s instant funding model doesn’t teach discipline)
• Leeloo advantage: No evaluation wait time, 100% profit split on Performance Accounts

Topstep vs Take Profit Trader

• Topstep advantage: Industry leader with better reputation and resources
• Take Profit advantage: Lower monthly costs, less restrictive rules

The truth is, Topstep isn’t trying to be the cheapest or the easiest. They’re trying to be the best, and for serious futures traders, they probably are.

My Honest Take: Is Topstep Worth It?

After digging through everything, the program structure, the reviews, the statistics, the competitive landscape, here’s my genuine assessment.

Topstep is the real deal. They invented this business model, they’ve been doing it for 13+ years, and they have the track record to back up their claims. Thousands of traders have been funded. Millions in payouts have been processed. This isn’t vaporware.

The evaluation is genuinely difficult. That 12.4% pass rate isn’t artificially low, it reflects the reality that most traders don’t have a working strategy or the discipline to follow rules under pressure. If you can’t trade profitably in your own sim account, Topstep won’t magically fix that.

The 1-step model is a massive improvement. Cutting the old 2-step evaluation down to a single Combine makes this the fastest path to funding in the industry (for legitimate firms, plenty of sketchy operations offer “instant funding” but those are different beasts entirely).

The profit split is industry-leading. 100% of first $10K then 90/10 after that? Most firms don’t even come close. This is genuinely generous.

The educational content is unmatched. TopstepTV, group coaching, the Discord community, the blog content, no other prop firm invests this much in trader education. If you’re early in your trading journey, this is invaluable.

TopstepX is a double-edged sword. Commission-free trading is huge. But the platform itself is still maturing, and some traders prefer the depth of NinjaTrader or other advanced platforms. If you’re a platform power-user, factor this into your decision.

The transition from Express to Live is brutal. Only 0.96% make it. If your goal is to trade actual live capital, understand that reaching Express Funded is just the first milestone, getting called up to Live is the real challenge.

The 4% max loss limit is tight. In volatile markets, this can feel restrictive. Some traders prefer firms with 6-8% drawdown limits. But the flipside: tighter risk parameters force better discipline.

My Recommendation

If you’re a futures trader with 6-12 months of experience (not necessarily profitable, but you understand the mechanics and have a strategy), Topstep is one of the best places to prove yourself in 2025.

The free monthly resets, the educational resources, and the 90/10 profit split make this a solid value proposition despite being on the pricier end of evaluation fees.

If you’re newer to trading (less than 6 months), I’d actually recommend spending another few months trading a personal sim account or a micro futures account before paying for a Topstep evaluation. Get your consistency dialed in first. Then come to Topstep and pass in 1-2 months rather than burning 6 months of subscription fees failing repeatedly.

If you’re experienced and confident, go straight for the $100K or $150K Combine. The monthly fee difference is minimal compared to the funding potential, and you’ll unlock higher payouts faster.

Final Verdict: 4.5 out of 5 Stars

What Topstep Does Exceptionally Well:

• Industry-leading profit split (100% first $10K, 90% after)
• Best educational ecosystem in prop trading (TopstepTV, coaching, community)
• Legitimate 13-year track record with documented payouts
• 1-step evaluation (fastest in the industry for legit firms)
• 16+ platform options including commission-free TopstepX
• End-of-day MLL calculation (more realistic than intraday stops)
• Free monthly reset with subscription renewal
• Multiple Express Funded accounts allowed (up to 5)
• Weekly payouts, not monthly
• Transparent statistics and honest about pass rates

What Needs Improvement:

• TopstepX platform still has occasional bugs/issues
• 4% max loss limit is tighter than some competitors
• Live Funded call-up rate is extremely low (0.96%)
• Subscription continues after failure unless manually cancelled
• KYC verification can be handled more gracefully
• Migration pressure from legacy platforms to TopstepX
• The consistency rule (50% limit) frustrates some traders
• Phone support was eliminated (only chat/Discord now)

The Bottom Line: Topstep is the gold standard of futures prop firms. They’re not the cheapest, not the easiest, but they’re the most established and most respected. If you’re serious about building a career in futures trading, not just dabbling, this is where you prove yourself.

The 12.4% pass rate exists for a reason: trading is hard, and Topstep isn’t lowering standards to inflate their funding numbers. They’re looking for traders who can consistently manage risk and generate profits. If you can do that, they’ll fund you and pay you well.

For beginners, the educational content alone is worth the subscription price. For experienced traders, the 90/10 profit split and fast (2-day minimum) funding timeline make this a top-tier opportunity.

Is it perfect? No. But it’s the closest thing to “industry standard” that exists in prop trading.