Topstep was founded in 2012 by Michael Patak, a former floor trader at the Chicago Board of Trade. The firm was one of the first to offer retail traders a pathway to trading futures with firm capital through a structured evaluation process. Based in Chicago — the heartland of futures trading — Topstep has deep connections to the CME Group ecosystem.
Unlike most forex-focused prop firms that charge a one-time challenge fee, Topstep operates on a monthly subscription model. You pay a monthly fee to participate in the Trading Combine, and you stay subscribed until you pass. This model benefits traders who pass quickly but can become expensive for those who take several months to qualify. Topstep has funded thousands of traders over its 14-year history and remains a top choice for futures-specific traders.
Topstep uses a single-step evaluation called the Trading Combine. There is no Phase 2 — once you meet the profit target and follow the rules, you receive a funded account.
$50K account: Profit target of $3,000. Maximum daily loss of $1,000. Maximum drawdown (trailing) of $2,000. Maximum position size of 5 contracts (E-mini) or 50 micros.
$100K account: Profit target of $6,000. Maximum daily loss of $2,000. Maximum drawdown (trailing) of $3,000. Maximum position size of 10 contracts or 100 micros.
$150K account: Profit target of $9,000. Maximum daily loss of $3,000. Maximum drawdown (trailing) of $4,500. Maximum position size of 15 contracts or 150 micros.
There is no time limit on the Trading Combine — you can take as long as needed. However, since it is subscription-based, the monthly fee continues until you pass or cancel. You must trade a minimum of 5 trading days to qualify.
Topstep charges a monthly subscription rather than a one-time fee:
- $50K Trading Combine — $49/month
- $100K Trading Combine — $99/month
- $150K Trading Combine — $149/month
The subscription renews monthly until you pass the Combine or cancel. If you pass within the first month, the total cost is very competitive. However, if it takes 3-6 months, the cumulative cost can exceed the one-time fees charged by competitors. Topstep periodically offers free trials (our code TOPFREE gives 14 days free) and discounts on the monthly fee.
- Daily loss limit: Varies by account ($1,000 for $50K, $2,000 for $100K, $3,000 for $150K). Includes unrealized losses.
- Maximum drawdown: Trailing drawdown ($2,000 for $50K, $3,000 for $100K, $4,500 for $150K). Resets as your balance grows.
- Position limits: 5/10/15 E-mini contracts depending on account size. Scaling plan unlocks higher limits.
- Trading hours: Must trade during CME regular trading hours. Positions must be flat by market close (no overnight holds).
- News trading: Allowed, but be aware of volatility impact on the daily loss limit.
- Consistency rule: Topstep has a "step" system during the Combine — you start with limited contracts and gradually increase as you build profit.
- Prohibited strategies: No hedging with correlated products, no trading during non-market hours, no scalping exclusively during the opening/closing minutes.
Topstep supports multiple futures trading platforms: NinjaTrader, Quantower, TopstepX (their proprietary platform), and several others through Rithmic and CQG data feeds. This is a major advantage for futures traders who prefer specialized charting and order management tools.
Tradeable instruments are CME Group futures products: E-mini S&P 500 (ES), E-mini Nasdaq (NQ), E-mini Russell (RTY), crude oil (CL), gold (GC), silver (SI), natural gas (NG), Euro FX (6E), Japanese Yen (6J), Treasury bonds (ZB), and many more. Micro contracts are also available for all supported products.
Topstep offers a 100% profit split on the first $10,000 earned on a funded account. After that, the split moves to 90% (trader keeps 90%, Topstep takes 10%). This is one of the most generous payout structures in the industry. Payouts are available after 5 trading days on the funded account and can be requested at any time after that. Payment methods include ACH (US bank transfer), PayPal, and international wire. Processing takes 2-5 business days.
Topstep's scaling plan focuses on increasing position size limits rather than account balance. As you demonstrate consistent profitability and responsible risk management, you gain access to trade more contracts. The $50K account can scale from 5 to 10+ contracts, the $100K from 10 to 20+, and so on. This gradual scaling mirrors how professional trading desks operate and encourages disciplined position sizing.
Pros:
- One of the oldest prop firms (est. 2012) with a proven 14-year track record
- One-step evaluation — no Phase 2 required
- 100% profit split on the first $10,000, then 90% — among the best in the industry
- Excellent platform support (NinjaTrader, Quantower, TopstepX, and more)
- Access to the full CME Group product suite including micros
- Free trial available — try before you pay
- No time limit on the Trading Combine evaluation
Cons:
- Trustpilot rating of 3.4/5 is below average — many complaints about payout delays and rule enforcement
- Monthly subscription model can become expensive if you do not pass quickly
- Trailing drawdown is strict and punishes traders who build profit and then give it back
- No overnight holding — you must be flat by market close, which eliminates swing trading
- Futures-only — if you also trade forex, you need a separate firm
- The "step" system limits position sizes early in the Combine, frustrating for experienced traders
- Funded account rules differ from Combine rules, which causes confusion
Topstep is purpose-built for futures day traders. If you trade E-mini or micro contracts on the CME, prefer NinjaTrader or similar platforms, and have an intraday strategy that does not require overnight holds, Topstep is the most natural choice. The firm's deep roots in the Chicago futures community and its support for professional-grade platforms make it the gold standard for futures prop trading.
However, if you are a swing trader, forex trader, or someone who needs overnight positions, Topstep is not the right fit. The subscription model also means you should have confidence in passing within 1-2 months to keep costs reasonable. Traders with lower Trustpilot tolerance may want to investigate the common complaints before committing.
★★★☆☆ 3.4 / 5 — based on 13,827 reviews on Trustpilot.
Topstep's Trustpilot rating is below the prop firm average. Positive reviews praise the evaluation process, platform support, and the generous profit split structure. Negative reviews frequently cite difficulties with the trailing drawdown on funded accounts, perceived inconsistency in rule enforcement, and delays in payout processing. Some traders report that funded account rules feel more restrictive than expected after passing the Combine. Despite the mixed rating, the firm's longevity and large user base suggest it remains a viable option for the right trader profile.