TopStep stands as one of the original proprietary trading firms, pioneering the funded trader concept since 2012. With over a decade of operations, TopStep has established itself as a trusted name in futures prop trading, having funded thousands of traders and distributed substantial payouts. The firm combines proven reliability with educational resources designed to develop successful traders.
| Platform Comparison | TopStep | Industry Average | Premium Alternative |
|---|---|---|---|
| Profit Split | 100% first $10k, then 90% | 70-85% | 100% first $25k |
| Evaluation Fee | $49-$149/month + $149 activation | $50-$1,500 | $137-$675/month |
| Account Minimum | $50,000 | $5,000 | $25,000 |
| Maximum Funding | $150,000 | $200,000-$400,000 | $300,000 |
| Evaluation Steps | Trading Combine | 1-3 steps | Unlimited time |
| Profit Target | $3,000-$6,000 | 8-12% | $1,500-$20,000 |
| Daily Loss Limit | $1,000-$2,000 | 4-6% | None |
| Max Drawdown | $2,000-$3,000 | 8-12% | Trailing |
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Note on fees: TopStep uses a subscription model with monthly fees ranging from $49 to $149 depending on account size, plus a one-time $149 activation fee when passing to a funded account. The Trading Combine evaluation allows unlimited time to reach profit targets.
TopStep's longevity and track record provide reassurance that newer firms cannot match. The company's educational focus, including coaching programs and trading resources, reflects its commitment to developing successful traders rather than simply collecting fees.
Company History & Development
TopStep was founded in 2012 in Chicago, the heart of American futures trading. The company emerged from the trading floor culture, founded by Michael Patak with the vision of providing retail traders access to trading capital traditionally reserved for institutional participants.
The firm introduced the "Trading Combine" evaluation concept, drawing parallels to professional sports combines where athletes demonstrate skills before receiving contracts. This metaphor resonated with traders and helped establish prop trading as a legitimate path to professional trading.
Throughout the 2010s, TopStep refined its evaluation process and expanded its reach internationally. The company developed educational programs, partnered with trading coaches, and built a community-focused approach that distinguished it from purely transactional competitors.
By 2020, TopStep had funded thousands of traders and processed millions in payouts. The company navigated the COVID-19 volatility period, providing opportunities for traders during unprecedented market conditions.
Recent years have seen TopStep face increased competition from newer entrants while maintaining its position through established credibility and continuous program refinement. The firm remains a respected name with over a decade of consistent operations.
Business Model & Core Services
TopStep's Trading Combine evaluation requires traders to meet profit targets while respecting daily loss limits and maximum drawdown parameters. Account sizes range from $50,000 to $150,000, with corresponding profit targets and risk parameters.
The evaluation has no time limit—traders can take as long as needed to demonstrate profitability. This patience-focused approach aligns with TopStep's philosophy of developing consistent traders rather than gambling on quick results.
Funded traders operate "Express Funded Accounts" with real market execution. Profit splits begin at 100% for the first $10,000 earned, transitioning to 90% thereafter. This structure rewards early success while maintaining generous ongoing terms.
Regulatory Compliance & Trust
TopStep's decade-plus operational history provides substantial trust evidence. The company operates transparently, with verified payout records and active community engagement. Trading occurs through regulated futures brokers, ensuring proper market access and protections.
The firm maintains an A+ Better Business Bureau rating and positive reviews across multiple platforms. This track record represents significant trust capital that newer competitors are still building.
Economics & Value Proposition
TopStep's subscription fees range from $49 to $149 monthly, with a $149 activation fee upon passing to funded status. While not the cheapest option, the unlimited evaluation time and established reliability provide value beyond raw pricing.
The 100%/90% profit split is competitive with industry leaders. Payouts are processed regularly with the reliability expected from an established firm. The company accepts standard payment methods.
Technology & User Experience
TopStep provides access to professional futures platforms including NinjaTrader, Quantower, and other Rithmic-connected options. The platform selection accommodates various trading styles and technical preferences.
The TopStep dashboard provides comprehensive account monitoring, including real-time P&L tracking, rule compliance indicators, and performance analytics. Educational resources, including the TopstepTV content and coaching programs, supplement the trading experience.
Scalping-Friendliness (Commissions, Leverage & Slippage)
TopStep permits various trading styles within its rule framework. Daily loss limits require careful risk management for scalpers, as hitting limits ends the trading day. However, no restrictions on trade frequency or minimum holding times exist.
Standard futures leverage applies, and execution through established infrastructure provides competitive fills.
Security & Risk Management
Risk management is enforced through daily loss limits and maximum drawdown rules. These parameters are more conservative than some competitors, reflecting TopStep's focus on developing disciplined traders.
Standard security measures protect accounts and personal information. The company's established operations demonstrate effective security practices over an extended period.
Market Position & Suitability
TopStep suits futures traders who value reliability and educational development over aggressive terms. The firm's decade-plus track record provides peace of mind for traders prioritizing established credibility.
Traders comfortable with conservative risk parameters will appreciate TopStep's structured approach. Those seeking extensive educational resources and community engagement will find additional value beyond basic funding.
Traders prioritizing maximum capital access or minimal restrictions might find newer competitors more aligned with their preferences. However, TopStep's reliability compensates for less aggressive terms.
Conclusion
TopStep has earned its position as a respected industry pioneer through over a decade of consistent operations. The firm's combination of proven reliability, educational focus, and fair trading terms creates a compelling package for serious futures traders.
Key strengths include unmatched operational history, educational resources, 100% initial profit retention, and established credibility. More conservative risk parameters and smaller maximum account sizes may limit appeal for some traders.
For futures traders valuing proven reliability and trader development, TopStep remains a benchmark choice in proprietary trading.
Last updated: November 29, 2025