This Topstep review looks at one of the longest-running futures prop firms, a Chicago company founded in 2012 that sells a monthly-subscription evaluation called the Trading Combine. Our verdict: Topstep is a credible, well-documented choice for futures day traders who can live with an end-of-day trailing drawdown, a consistency target and per-request payout caps. It is not the cheapest route to a funded account once activation fees and resets are counted, and as with every prop firm, most traders who buy a Combine never reach a payout.
Topstep at a glance
| Item | Details (November 2026) |
|---|---|
| Markets | Futures (CME Group products) |
| Founded / HQ | 2012, Chicago, United States |
| Company | Topstep LLC; programmes run by TopstepTrader, LLC and TopstepFunded LLC |
| Account sizes | $50K, $100K, $150K |
| Price | From $49 per month ($50K Standard path) |
| Evaluation | 1-step Trading Combine |
| Profit split | 90% |
| Platform | TopstepX |
Challenge types and pricing
Topstep sells a single evaluation, the Trading Combine, in three sizes. You pay a monthly subscription until you pass or cancel, and each rebill includes a reset credit. There are two payment paths. The Standard path has the lowest monthly price but charges a one-time $149 activation fee for each Express Funded Account (XFA) you earn. The No Activation Fee path costs more each month and charges nothing on passing. The path cannot be switched after purchase.
| Account | Standard (monthly) | No Activation Fee (monthly) | Profit target | Max Loss Limit | Max contracts |
|---|---|---|---|---|---|
| $50K | $49 | $95 | $3,000 | $2,000 | 5 minis / 50 micros |
| $100K | $99 | $149 | $6,000 | $3,000 | 10 minis / 100 micros |
| $150K | $199 | $229 | $9,000 | $4,500 | 15 minis / 150 micros |
Note that Topstep’s help-centre pricing article and its No Activation Fee landing page showed different monthly figures for that path when we checked, so confirm the price at checkout. Level 2 data is an optional $38 monthly add-on. Treat the subscription, activation and any reset fees as a cost of doing business rather than an investment.
Trading rules
The one rule that ends an account is the Maximum Loss Limit. Topstep defines it as the account’s balance high minus the maximum drawdown, recalculated at the end of each trading day, so it trails your end-of-day peak. The Daily Loss Limit is optional in the Combine and in the XFA; if you choose it and hit it, the platform stops new trades until the next session rather than failing you. On a Live Funded Account the Daily Loss Limit is mandatory.
- Consistency target: in the Combine your best single day should stay below 55% of the profit target.
- Minimum days: no fixed minimum, but Topstep says passing in one day is not possible; two days is the earliest pass.
- Trading day: runs from 5:00 PM CT to 3:10 PM CT the next day, so positions are not held into the weekend or overnight past the session close.
- Automated strategies: allowed with conditions, but Topstep does not help set them up.
We could not confirm a specific news-trading policy on the pages we opened, so check the prohibited-conduct article in the help centre before trading around major releases.
Profit split, payouts and scaling
Topstep pays a 90/10 split. Once you pass, you move to an Express Funded Account with no monthly fee, and you choose one of two payout paths. The Standard path unlocks a payout after five winning days of $150 or more. The Consistency path unlocks after three trading days, provided your largest day is no more than 40% of net profit. Each request is limited to 50% of the balance, capped per account size:
| Account | XFA Standard cap | XFA Consistency cap | Live Funded |
|---|---|---|---|
| $50K | $2,000 | $3,000 | No dollar cap |
| $100K | $3,000 | $4,000 | No dollar cap |
| $150K | $5,000 | $6,000 | No dollar cap |
The minimum request is $125. US traders can be paid through Aeropay, which Topstep says usually lands in seconds once approved; ACH and international wires carry a $30 fee and take longer. Strong XFA traders may be called up to a Live Funded Account, where daily payouts unlock after 30 winning days.
Platforms and instruments
Topstep is a futures-only firm. Its current platform is TopstepX, built and owned by ProjectX Trading LLC, with Level 1 data included. Topstep has changed its supported-platform list before, so check the help centre for what is available today. There is no forex or CFD offering.
Company, trust and payout record
Topstep is one of the more transparent firms in the sector. Its site names the corporate structure: Topstep LLC as parent, TopstepTrader, LLC for the simulated programmes, TopstepFunded LLC for live funded trading, and Topstep Brokerage LLC, an introducing broker listed with NFA ID 0567079. The prop programme itself is not a regulated investment product. Topstep reports more than $1.4 billion paid to traders and says it approves 99.26% of payout requests; these are the firm’s own figures. On the negative side, the rules have been overhauled repeatedly, including payout caps and dashboard changes in 2026, and third-party reviews mention TopstepX outages in late 2025. Expect the fine print to keep moving.
Who it suits
- Futures day traders who flatten positions before the daily close.
- Traders who prefer a single-step evaluation with no time limit.
- US traders who value fast bank payouts.
It suits swing traders, forex traders and anyone who dislikes trailing drawdowns less well.
Topstep review: final verdict
To close this Topstep review: the firm earns its reputation through longevity, clear documentation and a long payout history. The trade-offs are monthly fees that add up if you need several attempts, an activation fee on the cheaper path, a trailing Maximum Loss Limit and payout caps on Express Funded accounts. Read the current rules on topstep.com before you subscribe, and only risk money you can afford to lose on the fee.
Compare Topstep with the other top prop trading firms, or read our E8 Markets review and Apex Trader Funding review.
FAQ
How much does the Topstep Trading Combine cost?
As of November 2026 the Standard path costs $49, $99 or $199 per month for the $50K, $100K and $150K Combines, plus a one-time $149 activation fee when you pass. The No Activation Fee path costs more per month but charges $0 on activation. The subscription rebills until you pass or cancel.
What profit split does Topstep pay?
Topstep states a 90/10 split, so the trader keeps 90% of profits. The minimum payout request is $125, and Express Funded payouts are capped per request depending on account size and payout path.
Is Topstep’s drawdown trailing?
Yes. The Maximum Loss Limit ($2,000 / $3,000 / $4,500) trails the account’s end-of-day balance high. A Daily Loss Limit is optional in the Combine and Express Funded Account and blocks new trades for the day rather than failing the account.
Which platform does Topstep use?
Topstep’s own pages present TopstepX, a platform developed and owned by ProjectX Trading LLC, as its trading platform. Check the help centre for any other supported platforms before buying.
Is Topstep regulated?
The evaluation and funded programmes are not regulated products; they are run by TopstepTrader, LLC and TopstepFunded LLC. A separate affiliate, Topstep Brokerage LLC, is listed as an introducing broker with NFA ID 0567079, but that does not make the prop programme itself regulated.
Facts compiled on 8 November 2026 from the firm’s published rules and independent reviews listed in the sources. Prop firm rules and prices change often; confirm on the official website before buying a challenge.
