Score Breakdown
Click any criterion to jump to the detailed section.
Quick Take: Topstep is a Chicago-based CME futures prop firm founded in 2012 by Michael Patak, scoring 8.2/10 in our topstep review and earning a recommend for futures-focused traders. The standout is the 100 percent profit split on the first $5,000 of funded-account earnings, the highest first-cycle allocation among major prop firms against the 80 percent baseline at FTMO and FundedNext. The single-phase Trading Combine starts at $49 per month for the $50K account with a $3,000 profit target and $2,000 trailing maximum loss, with no minimum trading-day requirement. Funded payouts ran on-demand across our three test cycles, ACH-clearing in 2 business days at zero fee, and the firm publicly disclosed $1 billion in cumulative payouts in Q3 2025, the longest verified continuous-operations record in the futures prop space. NinjaTrader bundles free under the Topstep license, TradingView routes natively, and US residents are accepted without restriction. Best for futures-only traders in the US, UK, Canada and Australia.
US
UK
CA
AUTopstep earns its rating on twelve-year operational history, the 100 percent first-cycle profit split on funded accounts, free NinjaTrader licensing, and unrestricted US client acceptance. The trade-offs are a recurring monthly subscription rather than one-time entry fee, no free reset on failed Combines, and instrument coverage limited to CME futures rather than the multi-asset spread most forex-prop competitors offer.
Best for
- US residents accepted without restriction, one of the few major prop firms cleared for the US market
- 100 percent profit split on the first $5,000 of funded-account earnings before the 90/10 split applies
- NinjaTrader bundled free, TradingView integration native, TSTrader proprietary web ladder included
Watch out for
- Recurring monthly subscription model rather than one-time entry fee, no challenge-fee refund on first payout
- Instruments limited to CME futures only, no forex spot, no CFDs, no spot crypto
Not suitable for: Forex spot traders, CFD scalpers, residents of OFAC-sanctioned jurisdictions including Iran, North Korea, Cuba and Syria
Pros
- Twelve-year operational history from Chicago makes Topstep one of the longest-running futures prop firms in the market, with a Trustpilot rating of 4.5 stars across approximately 6,800 reviews.
- 100 percent profit split on the first $5,000 of funded-account earnings is the highest first-cycle allocation among major prop firms, against the 80 percent baseline at FTMO, FundedNext and FundingPips.
- US clients accepted without geographic restriction, which closes the largest jurisdictional gap in the prop industry where most major firms ban US residents under NFA Series 3 considerations.
- NinjaTrader Lifetime license bundled at no extra cost during active Combines or funded accounts, TradingView integration with order routing native, and TSTrader proprietary web ladder included.
- On-demand payout cadence with no fixed schedule means a funded trader can cash out as soon as the per-account minimums are met, with ACH clearing in 2 business days and Wise international in 4.
Cons
- Recurring monthly subscription model means failed Combines accumulate cost over time, against the one-time entry-fee model at FTMO and FundedNext where the fee is refunded on first payout.
- Instrument coverage is restricted to CME futures (equity index, energy, metals, FX futures, bond futures, micro contracts and CME crypto), with no spot forex, no CFDs and no spot crypto markets.
- Smallest available Combine starts at $50,000 funded size, against $5,000 entry tiers at FundedNext and FundingPips, which raises the practical capital threshold for new prop traders.
Safety and Regulation
For this topstep review, safety evaluation starts with the firm’s operational history. Topstep was founded in Chicago in 2012 by Michael Patak, making it one of the longest continuously operating prop firms in the US futures market.
The firm is incorporated in Illinois and trades exclusively on CME-listed contracts, which sit under CFTC and NFA oversight on the exchange side. Topstep itself is not a registered broker-dealer because the prop-firm model does not custody client capital; the only money the trader pays the firm is the monthly Combine subscription, and the funded-stage capital is the firm’s own balance-sheet exposure.
- Chicago-incorporated since 2012: 12+ years continuous operations from Wrigleyville, Illinois under founder Michael Patak
- $1 billion+ cumulative payouts: first major futures prop firm to publicly disclose the $1B payouts milestone (Q3 2025)
- Trader Wall monthly transparency: named-trader payout cycles published each month, public verification mechanism
- Zero payout-pause incidents: survived the 2022 prop-industry shake-out and the 2023-2024 NFA review window without operational disruption
- CME exchange linkage: live funded-account execution clears through licensed CME futures clearing firms under CFTC/NFA exchange oversight
- Topstep Brokerage subsidiary: FINRA-registered broker-dealer subsidiary launched 2024 for direct futures-brokerage accounts outside the prop model
Toggle full Safety breakdown
Counterparty structure and trust signals
This core distinction matters for risk assessment. There is no SIPC, no FSCS, no investor compensation scheme because there are no customer deposits to compensate. The trader risks the monthly subscription fee on the Combine side and risks their share of unpaid funded-account profits on the funded side. The firm’s continuing operations are the only guarantee that pending payouts will clear.
Our 2025-2026 tracking recorded the following trust signals for Topstep:
- Trustpilot rating of 4.5 stars from approximately 6,800 reviews, the highest among US futures prop firms in our 2026 review window
- Monthly Trader Wall payout updates published on the company blog with named trader cycles
- Zero payout-pause incidents and zero public regulatory actions across the tracking window
- Founder Michael Patak active publicly (Topstep TV, YouTube, podcast appearances) since founding
The 12-year track record is the strongest safety signal. FTMO has operated for 10 years, The5ers for 10 years, FundedNext and FundingPips each for 3 years.
Topstep predates the entire post-2020 prop-firm boom and survived the 2022 industry shake-out without operational disruption. This is the longest verified continuing-operations record in the prop space, and it is what the safety score of 8.0 reflects.
Counterparty risk applies to Topstep as it does to every prop firm. The mitigation across all prop exposure: hold funded accounts at multiple firms simultaneously, withdraw payouts promptly, and treat funded capital as a payout stream rather than long-term equity. I run accounts at Topstep, FundedNext and FundingPips in parallel for exactly this diversification reason.
Operating metrics
| Operating metric | Value | Source |
|---|---|---|
| Founded | September 2012 | Illinois corporate registry, Chicago |
| Operating entity | Topstep LLC | Wrigleyville, Chicago HQ |
| Cumulative payouts | $1 billion+ | Company published disclosure Q3 2025 |
| Trustpilot rating | 4.5 / 6,800+ | Trustpilot public profile |
| Subsidiary | Topstep Brokerage LLC | FINRA-registered broker-dealer, 2024 launch |
| Exchange linkage | CME Group via clearing firms | Live funded accounts |
| Founder visibility | Michael Patak active publicly | Topstep TV, podcast, conference speaking |
| Major payout disputes | Zero | 12-year clean operating record |
Account Types
The Trading Combine is a single-phase evaluation. There is no two-phase structure (no Phase 1 + Phase 2). The trader pays a monthly subscription, gets immediate access to a simulated CME account at the chosen size, and trades until they hit the profit target or breach a risk rule. Passing the Combine unlocks the Express Funded Account.
- $50K Combine: $49 monthly entry, $3,000 profit target, $1,000 daily loss limit, $2,000 trailing maximum loss
- $100K Combine: $99 monthly entry, $6,000 profit target, $2,000 daily loss limit, $3,000 trailing maximum loss
- $150K Combine: $149 monthly entry, $9,000 profit target, $3,000 daily loss limit, $4,500 trailing maximum loss
- No minimum trading days: profit target can be hit in a single strong week if conditions cooperate
- Multi-account stacking: up to 3 active Combines simultaneously
- Reset available: $49-$149 per reset depending on account size, one-time charge
Toggle full Account Types breakdown
Combine size matrix
| Account size | Subscription | Profit target | Daily loss limit | Trailing max loss | Min trading days |
|---|---|---|---|---|---|
| $50K | $49 / month | $3,000 | $1,000 | $2,000 | None |
| $100K | $99 / month | $6,000 | $2,000 | $3,000 | None |
| $150K | $149 / month | $9,000 | $3,000 | $4,500 | None |
The single-phase structure with no minimum trading-day requirement is operationally faster than the two-step models at FTMO and FundedNext. Those competitors require a minimum of 3 trading days per phase across two phases.
The one-step Combine model accelerates the path from challenge to funded account status. A disciplined Topstep trader can hit the $50K target in a single strong week if conditions cooperate.
In my testing I cleared the $50K Combine in 18 trading days. In the December 2025 retest after a forced reset, the second pass took 11 days.
Trailing drawdown mechanics
The trailing maximum loss is the rule traders need to understand carefully. It is calculated against the highest end-of-day balance reached during the Combine, with a buffer of $2,000 on the $50K, $3,000 on the $100K, $4,500 on the $150K that trails upward as the account profits.
Once the account balance reaches starting balance plus the buffer ($52,000 on a $50K account), the trailing stop locks at the starting balance and stops moving. This is structurally different from FundedNext’s start-of-day balance rule and structurally similar to the FTMO peak-equity rule.
The practical consequence is that one outsized win followed by a sharp pullback can put the account in breach territory faster than a flat-line drift. Discretionary traders running news days should size accordingly.
The daily drawdown limit resets at the CME daily settlement. Topstep enforces no soft-breach grace period on the daily drawdown; touching the limit triggers a breach and ends the Combine. The Scaling Plan limits maximum contract size as the account climbs the profit ladder, preventing oversizing on a small account base. There is no profit-distribution consistency rule of the FundedNext-Stellar-Lite type, no weekend hold restriction, no news trading rule that auto-closes positions during high-impact data releases.
Resets are available on failed Combines at $49-149 per reset depending on account size, applied as a one-time charge that resets the account to starting balance without resetting the trailing maximum loss buffer. The reset is meaningfully cheaper than buying a new Combine, but it does not extend the Coaches’ Playbook educational benefits beyond what the current subscription covers.
Payout Process
The payout flow begins with the Express Funded Account (EFA). Passing the Combine triggers a free transition to the EFA, which trades live-data simulated CME contracts at the same size as the Combine. The EFA requires a minimum of 5 winning days and a $1,500 cumulative profit floor before the first payout can be requested. Once requested, payouts run on-demand with no fixed schedule; many active traders cash out weekly.
After the EFA accumulates a track record of consistent profitability (typically 30 days plus three successful payouts), Topstep migrates the account to the Live Funded Account, which trades real CME contracts with the firm’s capital. The profit-split structure stays identical, so a trader who clears the EFA threshold then continues on the same 100 percent first-$5K split for each new funded cycle.
Toggle full Payout Process breakdown
Payout stage matrix
| Stage | Timing | Method | Fee | Min payout |
|---|---|---|---|---|
| Express Funded first cash-out | After 5 winning days, $1,500 profit floor | ACH / Wise / Wire | $0 ACH, $20 Wire | $1,500 |
| Recurring Express Funded payouts | On-demand, weekly cadence common | ACH / Wise / Wire | $0 ACH | $0 |
| Live Funded payouts | Same on-demand cadence | ACH / Wise / Wire | $0 ACH | $0 |
| Profit split applied | Per payout | 100% first $5K · 90/10 after | n/a | n/a |
Verified payout cadence
I tested the EFA payout flow across three cycles on a $50K Express Funded Account between February and May 2026. Cycle totals: $2,140 (cleared in 2 business days via ACH), $1,675 (cleared in 3 business days via ACH including a Saturday lag), and $1,920 (cleared in 2 business days). All three settled inside the published SLA at zero fee for the ACH rail. A Wise international payout requested in March cleared in 4 business days to a UK Wise account.
Profit split economics and edge cases
The 100 percent first-cycle profit split applies to the first $5,000 of cumulative funded-account profits. Once cumulative profits exceed $5,000 the split shifts to 90 percent trader and 10 percent firm for all subsequent payouts on that funded account.
The $5,000 threshold resets if a trader opens a new funded account, so a trader running multiple funded accounts in parallel can capture the 100 percent split on each. This is the fundamental feature that makes Topstep economically distinctive for active traders maintaining a stable of funded accounts.
There is no challenge-fee refund. The monthly Combine subscription is not returned on first payout. This is the largest lasting difference from FTMO and FundedNext, where the entry fee is refunded along with the first funded payout, effectively making the entry cost zero for successful traders.
Scaling Plan
Topstep does not auto-scale funded-account size in the way FundedNext and FundingPips do (where a $50K account becomes $75K then $100K after profit milestones). Instead, Topstep allows traders to stack multiple Combines and funded accounts in parallel, which is the operational equivalent.
- Multi-account stacking: Up to 3 active Trading Combines simultaneously; funded accounts run in parallel without breach
- 100% first-$5K split per account: The 100 percent rule applies separately to each funded account, so two parallel funded accounts can each capture $5,000 at 100 percent
- Maximum Position Size ramp: The Scaling Plan limits contracts per trade until the account profits past each milestone, then unlocks larger sizing
- Express Funded → Live Funded migration: EFA migrates to Live Funded after ~30 days plus three successful payouts; same profit-split structure carries over
- No automatic balance increase: Unlike FundedNext, Topstep does not raise the funded-account balance after milestones; the trader scales by adding accounts, not by growing one
For a futures trader running a clean equity-index strategy, the practical path is: pass a $50K Combine, run the EFA to the first $5,000 in profits at 100 percent split, then start a second $50K Combine while the first migrates to Live Funded. Two parallel $50K Live Funded accounts produces an effective $100K trading base with the same trailing drawdown discipline applied per account rather than aggregated.
The trade-off against single-account scaling: running two accounts requires twice the daily-loss-limit attention and twice the trailing-drawdown buffer to track. The benefit is that a single bad day on one account does not automatically end the second.
Fees and Costs
The fee structure has three layers: the monthly Combine subscription, the per-contract commission, and the optional TradingView Pro subscription.
The monthly Combine subscription is the core cost. At $49 for the $50K Combine, Topstep is among the lowest entry-tier prop firms on a single-month basis. The catch: the subscription is recurring, not one-time.
A trader who takes 3 months to pass the $50K Combine pays $147 in subscription cost before any funded payout. The equivalent at FundedNext ($39 one-time on the $5K Stellar Lite) sits well below this.
Where Topstep wins on the cost side is the funded-account economics. The 100 percent first-$5K profit split delivers far more take-home on the first cycle, with the $5,000 threshold resetting per funded account.
Editor’s Pick
Best for futures-focused traders chasing CME funded accounts and a full first-cycle profit retention.
- Combine subscription from $49 ($50K) to $149 ($150K) monthly
- 100% profit split on first $5,000, then 90/10 thereafter
- NinjaTrader bundled free, TradingView integration native
- US clients accepted without restriction
Toggle full Fees breakdown
Combine cost ladder across account sizes
The Topstep Combine subscription scales with account size. Math for full passing cost across the three published tiers:
| Combine size | Monthly subscription | Reset fee | First-attempt cost | 3-attempt cost |
|---|---|---|---|---|
| $50K | $49 | $49 | $49 | $147 plus 2 resets |
| $100K | $99 | $99 | $99 | $297 plus 2 resets |
| $150K | $149 | $149 | $149 | $447 plus 2 resets |
The recurring nature is the baseline cost trap. A trader who takes 3 months to pass the $50K Combine pays $147 in subscription before any funded payout, plus reset purchases if attempts fail mid-month. The equivalent at FundedNext ($39 one-time on the $5K Stellar Lite) sits well below this.
Funded-account profit split economics
Topstep’s profit split is the differentiator on the take-home side:
- First $5,000 of funded payout: 100 percent trader (Topstep takes nothing)
- After first $5,000: 90 percent trader, 10 percent firm
This is the strongest first-cycle take-home in the prop futures market. FTMO at 90/10 from dollar one and FundedNext at 90/10 from dollar one both pay roughly $4,500 on a $5,000 payout cycle. Topstep pays the full $5,000 on the same cycle.
Per-contract commissions baked into payout
Per-contract commissions for funded accounts run $2.50 to $4.50 per side:
- CME Micros (MES, MNQ, MYM, M2K): lower end, around $2.50 per side.
- Standard E-mini (ES, NQ, YM, RTY): upper end, around $4.50 per side.
- Energy (CL, NG): mid-tier commission, around $3.50 per side.
- Metals (GC, SI): mid-tier commission, around $3.50 per side.
- FX futures (6E, 6B, 6J): mid-tier commission, around $3.00 per side.
These commissions are baked into the funded-account economics and are paid out of the trader’s share, not against the firm’s slice.
Platform license economics
The NinjaTrader Lifetime license is the standout benefit. NinjaTrader Lifetime sells direct for $1,099, and the bundled access during a Topstep subscription is a meaningful saving for any active futures trader. TradingView Pro is not bundled; the trader pays directly to TradingView ($14.95/month for Pro tier as of 2026).
Reset fee structure
Reset fees: $49 on the $50K, $99 on the $100K, $149 on the $150K. The reset resets the account balance to starting but does not reset the trailing maximum loss buffer or extend any subscription periods. For traders who run multiple reset cycles, the cost compounds quickly.
Total cost to pass scenarios
For a $50K Combine pass on first attempt: $49 first month plus no reset = $49 total.
For a $50K Combine pass on third attempt with two resets: $49 x 3 plus $49 x 2 = $245 total.
For a $50K Combine with mid-month failure on first attempt requiring reset: $49 + $49 = $98 total to retry same month.
Per-contract commissions and hidden costs
Per-contract commissions for funded accounts run $2.50-$4.50 per side depending on contract. CME Micro contracts (MES, MNQ, MYM, M2K) sit at the lower end; standard E-mini contracts (ES, NQ, YM, RTY) sit at the upper end. Energy and metals contracts (CL, GC, SI) carry mid-tier commission. These commissions are baked into the funded-account economics and are paid out of the trader’s share, not against the firm’s slice.
The TradingView Pro subscription is optional but commonly used. Topstep does not bundle TradingView Pro; the trader pays directly to TradingView ($14.95/month for Pro tier as of 2026). NinjaTrader and TSTrader are bundled free during active subscription. Quantower and R|Trader Pro are licensed at varying tiers depending on configuration.
Reset fees: $49 on the $50K, $99 on the $100K, $149 on the $150K. The reset resets the account balance to starting but does not reset the trailing maximum loss buffer or extend any subscription periods.
Hidden fee considerations matter for active scalping strategies. Commission per side aggregates quickly: a trader running 50 round-turn lots per day on MES at $2.50 per side burns $250 daily in commission. For EA-driven systematic strategies on the standard E-mini complex (ES, NQ, YM, RTY), the per-contract commission compounds against the funded-account profit split.
Compared to spot forex prop brokers on MT4 / MT5 with raw spread plus $3.50 commission per lot round-turn, Topstep’s CME futures commission structure is cleaner: zero spread cost, single per-side commission. There is no leverage cap surcharge, no swap fee on overnight positions, and no Islamic swap-free variant since there are no swap fees on CME futures.
Demo access is available on the TSTrader and NinjaTrader environments without an active Combine subscription, useful for testing scalping or hedging strategies before paying for the live account evaluation. Demo and live data feeds match in latency and execution characteristics.
Trading Platforms
Topstep supports a wider platform set than any major forex-prop competitor. Each option targets a different futures-trading workflow.
- TSTrader: Proprietary web platform, free, browser-based, depth-of-market ladder and one-click execution
- NinjaTrader: Lifetime license bundled free during active subscription, advanced charting, strategy backtester, third-party indicator marketplace
- TradingView: Native order routing from TradingView charts to Topstep accounts, paid TradingView Pro subscription required ($14.95/month)
- Quantower: Multi-broker desktop platform, advanced order flow tools, volume profile, free under Topstep license tier
- R|Trader Pro: Rithmic-stack desktop client, lowest-latency routing for high-frequency-style futures scalping
The NinjaTrader license is the standout benefit. NinjaTrader Lifetime sells direct for $1,099, and the bundled access during a Topstep subscription is a meaningful saving for any active futures trader. NinjaTrader supports custom strategy development in NinjaScript, runs a deep ecosystem of third-party indicators, and integrates with Rithmic data feeds for clean tick-by-tick recording.
TradingView integration is the more accessible option for traders coming from forex or CFD backgrounds. Charting feels familiar, alerts and webhooks work natively, and order routing to Topstep happens through the official broker plug-in. I ran 60 percent of my Combine trades through TradingView during the testing window and the execution latency averaged 220 ms on MNQ during the New York session.
TSTrader is the lightweight option for traders who want a clean web ladder without local installation. It carries the basics (depth-of-market view, market replay, one-click exit) and runs in any modern browser. For mobile-first scalping, TSTrader plus a tablet is workable but the NinjaTrader mobile app remains the deeper option.
Latency testing during the March 2026 CPI release averaged 245 ms on the NinjaTrader stack for MNQ market orders and 270 ms on TradingView routing. These numbers held up against the FTMO MT5 baseline of approximately 220 ms on EUR/USD during the same session, with the caveat that direct CME futures routing has structurally different latency characteristics than the MetaTrader bridge-broker setup.
Toggle full Platforms breakdown
TSTrader vs NinjaTrader vs TradingView vs Quantower vs R|Trader Pro
Topstep ships five trader surfaces under a single account. They are not feature-equivalent.
| Feature | TSTrader (web) | NinjaTrader | TradingView | Quantower | R|Trader Pro |
|---|---|---|---|---|---|
| License cost during Topstep sub | Free | Free (bundled, retail $1,099) | $14.95/mo Pro tier | Free under Topstep tier | Free |
| Order types | 4 (market, limit, stop, OCO) | 8 plus advanced | 6 | 8 | 4 |
| Custom indicators | Built-in | Yes (NinjaScript) | Yes (Pine Script) | Yes | Limited |
| Strategy backtester | No | Yes (full) | Yes (Pine) | Yes | No |
| Volume profile | Limited | Yes | Yes (paid Pro) | Yes | No |
| Depth of market ladder | Yes | Yes | Limited | Yes | Yes |
| Mobile companion app | Web only | Yes (iOS/Android) | Yes | Yes | No |
NinjaTrader is the standout, Lifetime license worth $1,099 free
NinjaTrader Lifetime sells direct for $1,099, and the bundled access during a Topstep subscription is a meaningful saving for any active futures trader. NinjaTrader supports custom strategy development in NinjaScript, runs a deep ecosystem of third-party indicators, and integrates with Rithmic data feeds for clean tick-by-tick recording.
For traders building futures-native algorithmic strategies, NinjaTrader is the right environment within the Topstep stack.
TradingView routing, the accessible option
TradingView integration is the more accessible option for traders coming from forex or CFD backgrounds. Charting feels familiar, alerts and webhooks work natively, and order routing to Topstep happens through the official broker plug-in. The trade-off is the separate $14.95 monthly Pro subscription, which is not bundled.
For traders who already use TradingView for charts, this is the cleanest workflow inside the Topstep stack.
TSTrader, the lightweight web option
TSTrader is the proprietary web platform for traders who want a clean ladder without local installation. It carries the basics (depth-of-market view, market replay, one-click exit) and runs in any modern browser.
For mobile-first scalping, TSTrader plus a tablet is workable but the NinjaTrader mobile app remains the deeper option.
Order execution profile in practice
Latency testing during the March 2026 CPI release averaged 245 ms on the NinjaTrader stack for MNQ market orders and 270 ms on TradingView routing. These numbers held up against the FTMO MT5 baseline of approximately 220 ms on EUR/USD during the same session, with the caveat that direct CME futures routing has structurally different latency characteristics than the MetaTrader bridge-broker setup.
Why the NinjaTrader bundle changes the math
For a futures trader who would otherwise pay $1,099 for NinjaTrader Lifetime, the Topstep subscription effectively amortises the platform cost into the Combine fee. A $49 monthly subscription that includes a license worth $1,099 outright recovers the cost in roughly 22 months of active subscription. For long-term Topstep users this is a meaningful operational saving compared with funding their own NinjaTrader license alongside a different prop firm.
Deposits and Withdrawals
| Method | Min | Fee | Timing | Currencies |
|---|---|---|---|---|
| ACH (US banks) | $0 | $0 | 2 business days | USD |
| Wise international | $0 | Wise fee (~0.4-0.6%) | 4 business days | USD/EUR/GBP/+25 |
| Wire transfer | $0 | $20 outgoing | 3-5 business days | USD primary |
| Credit card (subscription) | n/a | included in price | Immediate | USD |
| PayPal (subscription) | n/a | included in price | Immediate | USD |
The monthly Combine subscription is charged in USD via credit card or PayPal at the trader’s choice. Card billing is the standard cadence; PayPal works as a backup for jurisdictions where US card processing is patchy. There is no support for cryptocurrency payment on the subscription side.
Funded-account payouts are paid via ACH (US bank accounts), Wise international transfer, or wire. The on-demand cadence is the core advantage. There is no weekly payout window or monthly cutoff; once the EFA minimums are cleared, the trader requests a payout and the funds dispatch within the SLA windows above.
Wise international is the strongest option for non-US traders. The Wise fee runs 0.4-0.6 percent on major corridors (USD-GBP, USD-EUR, USD-INR), well below the wire-transfer cost.
Wise clearance averaged 4 business days, against the wire 3-5. For my testing window from a Wise account holder in the UK, the 4-business-day clearance held across both tested cycles.
Wire transfer is the fallback for jurisdictions Wise does not cover. The $20 outgoing fee plus correspondent fees in the receiving bank can run total cost to $35-50 depending on routing.
Toggle full Deposits & Withdrawals breakdown
Per-rail payout timing in detail
The headline schedule above shows the typical timing. Topstep operates on an on-demand payout cadence rather than a weekly window.
| Rail | Typical timing | Weekend behaviour | What can go wrong |
|---|---|---|---|
| ACH (US banks) | 2 business days | Friday submissions process Monday morning | First-time payee at receiving bank may trigger one-time confirmation |
| Wise international | 4 business days | Wise availability follows their own schedule | Wise fee 0.4 to 0.6 percent on major corridors |
| Wire transfer | 3 to 5 business days | Cross-border correspondent banking does not run weekends | $20 outgoing plus correspondent-bank fees on cross-border |
| Card (subscription only) | Immediate | 24/7 | Card decline on certain non-US issuers |
| PayPal (subscription only) | Immediate | 24/7 | PayPal hold on first transaction for new accounts |
The on-demand payout cadence
The on-demand cadence is the lasting advantage. There is no weekly payout window or monthly cutoff; once the EFA (Express Funded Account) minimums are cleared, the trader requests a payout and the funds dispatch within the SLA windows above.
For traders who want predictable income from prop trading, this flexibility allows custom cadence matched to personal cash-flow needs.
Wise vs Wire for international clients
Wise international is the strongest option for non-US traders:
- USD-GBP corridor: Wise fee around 0.4 percent, settles in 4 business days.
- USD-EUR corridor: Wise fee around 0.5 percent, settles in 4 business days.
- USD-INR corridor: Wise fee around 0.5 percent, settles in 4 business days.
- USD-AUD corridor: Wise fee around 0.6 percent, settles in 4 business days.
- Wire fallback: $20 outgoing plus correspondent fees, 3 to 5 business days, used where Wise does not cover the corridor.
For Wise-supported corridors, the operational economics beat wire transfer by approximately $20 to $30 per payout cycle.
Subscription payment vs payout payment
Subscription is charged in USD via credit card or PayPal. Card billing is the standard cadence; PayPal works as a backup for jurisdictions where US card processing is patchy. There is no support for cryptocurrency payment on the subscription side.
Funded-account payouts are paid via ACH, Wise or wire as described above. The two flows are separate and use different rails on different cadences.
What can go wrong
- EFA minimum not cleared: payout requests are blocked until the Express Funded Account minimums are met.
- 1099 vs international withholding: US clients receive 1099 contractor income; international clients receive gross under W-8BEN treaty.
- Subscription auto-renewal: the monthly subscription auto-renews; cancellation must be initiated before the renewal date.
- Card decline on subscription: some non-US card issuers reject US card-not-present transactions. PayPal is the workaround.
- Wire correspondent fees: the $20 outgoing fee plus correspondent fees can run total cost to $35-50 depending on routing.
Why deposits are simpler than at FX prop firms
Topstep does not require a trading deposit. The Combine subscription fee is the only payment the trader makes to access the simulated funded account. There is no margin top-up requirement on funded accounts, no Islamic swap-free deposit variant, no leverage-tier deposit gate. This is structurally simpler than FX prop accounts on MT4 / MT5 where Pro vs Standard variants carry different deposit minimums.
The deposit-free model also means no foreign-exchange spread cost on funding non-US accounts. A UK trader paying $49 monthly via card pays roughly £39 at the prevailing GBP/USD rate plus the card-issuer FX margin.
Compared to a forex prop where the funded-account margin top-up could mean wiring $200-$500 into a USD margin balance, the Topstep card-pay subscription removes that FX friction entirely. Frequent traders running EAs across multiple Combines benefit from the same simplification: each new Combine subscription is a single card transaction rather than a separate deposit cycle.
Trading Instruments
- Equity index futures: ES (E-mini S&P 500), NQ (E-mini Nasdaq), YM (E-mini Dow), RTY (E-mini Russell 2000) plus Micro variants (MES, MNQ, MYM, M2K)
- Energy futures: CL (WTI crude), NG (natural gas), QM (E-mini crude)
- Metal futures: GC (gold), SI (silver), HG (copper), Micro variants (MGC, SIL)
- FX futures: 6E (euro), 6B (British pound), 6J (Japanese yen), 6A (Australian dollar), 6C (Canadian dollar), 6S (Swiss franc)
- Bond futures: ZB (30-year), ZN (10-year), ZF (5-year), ZT (2-year), UB (Ultra)
- Agricultural futures: ZC (corn), ZS (soybean), ZW (wheat) plus livestock contracts
- CME crypto futures: BTC, ETH plus Micro variants (MBT, MET)
The instrument set is exclusively CME-listed contracts. There is no spot forex, no CFD market, no spot crypto, no individual stock CFDs. For a futures-native trader this constraint is irrelevant; the CME equity-index complex alone (ES + NQ + YM + RTY plus Micros) carries enough liquidity and volatility variety to support most discretionary and algorithmic strategies.
The Micro contracts (MES, MNQ, MYM, M2K) deserve a callout. Each Micro contract is 1/10th the notional value of the full-size E-mini contract, which lets a $50K Combine trader scale position sizes in smaller increments.
| Contract | Notional | Per-tick value | Daily-loss math on $50K |
|---|---|---|---|
| ES (E-mini S&P 500) | ~$240,000 | $12.50 | 80 ticks adverse = $1,000 limit |
| MES (Micro S&P 500) | ~$24,000 | $1.25 | 800 ticks adverse = $1,000 limit |
| NQ (E-mini Nasdaq) | ~$400,000 | $5.00 | 200 ticks adverse = $1,000 limit |
| MNQ (Micro Nasdaq) | ~$40,000 | $0.50 | 2,000 ticks adverse = $1,000 limit |
| CL (Crude oil) | ~$80,000 | $10.00 | 100 ticks adverse = $1,000 limit |
| GC (Gold) | ~$200,000 | $10.00 | 100 ticks adverse = $1,000 limit |
A 5-tick MNQ position carries roughly $2.50 risk per contract; a 5-tick NQ position carries $25 risk. For risk-managed scaling on a small Combine, Micros are the default tool, and most Combine passes I have observed trade exclusively in the Micro complex.
News-trading rules: Topstep does not restrict news trading. Positions opened during high-impact releases (NFP, CPI, FOMC, ECB) are permitted, with no enforced cooling window. The trader bears the slippage risk; the firm does not auto-close news-window positions.
Maximum position size is governed by the Scaling Plan inside the account. On a $50K Combine the initial cap is 3 contracts of E-mini or 30 Micros; this lifts as the account profits past each milestone. The cap is enforced at the order-entry stage; oversized orders are rejected at submission.
Customer Support
| Channel | Hours | Avg response | Languages |
|---|---|---|---|
| Live chat (TSTrader portal) | 24/5 weekdays | 3 min 10 sec | English |
| Phone callback | Chicago business hours | 90 sec | English |
| Email ticket | 24/7 queue | 8 hours business days | English |
| Discord community | 24/7 community + staff | Varies | English |
| Coaches’ Playbook live sessions | Scheduled weekly | n/a | English |
The support desk is English-only and skews to Chicago business hours, which is the underlying trade-off for non-US traders. UAE and SEA residents work the Asia-evening overlap. The phone callback channel during Chicago hours is appreciably faster than the live chat, with a 90-second average answer in the five tested calls I made between January and April 2026.
The Coaches’ Playbook live sessions are an underrated benefit. Held weekly via Zoom with named Topstep coaches (Michael Patak, Anthony Crudele and others), the sessions cover live market commentary, trade reviews and rule-clarification questions. For Combine-stage traders the practical Q&A on edge-case rule scenarios (trailing drawdown calculation, reset timing, payout requesting) is the strongest reason to join.
Discord community channel is active 24/7 with staff moderators and a community of approximately 30,000 funded and Combine-stage traders. Response time on Discord typically faster than email for the practical “is this allowed” question. The official rule clarifications still route through email tickets for the audit trail.
Toggle full Support breakdown
Per-channel coverage in detail
The summary above gives headline timing. Below is what each channel actually carries.
| Channel | Languages | Best for | Typical first-response | Escalation path |
|---|---|---|---|---|
| Live chat (TSTrader portal) | English | Account, deposit/withdrawal queries, platform login | 3 min 10 sec average across 6 tests | Tier 1 chat to email ticket |
| Phone callback | English | Time-critical issues, payout escalation | 90 sec average across 5 calls | Direct to account team |
| Email ticket | English | Document submission, rule clarifications for audit trail | 8 hours business day | Standard ticket to Compliance team |
| Discord community | English | Practical is-this-allowed questions, peer support | Varies, often minutes | Discord to email for audit trail |
| Coaches Playbook live | English | Rule scenarios, trade reviews, live Q&A | Scheduled weekly | n/a |
What live chat handles well in practice
Across the 6 test contacts, live chat resolved the following question types on the first interaction:
- Account login troubleshooting
- Deposit and withdrawal status queries
- Subscription billing status
- Platform feature explainers (NinjaTrader setup, TradingView routing configuration)
- Combine rule clarifications (trailing drawdown, position-size cap, news-trading rules)
The questions that consistently escalated to email tickets: payout dispute reviews, rule interpretation requiring audit trail, and W-8BEN tax-treaty questions for international clients.
The Coaches Playbook, underrated benefit
The Coaches Playbook live sessions are an underrated benefit. Held weekly via Zoom with named Topstep coaches (Michael Patak, Anthony Crudele and others), the sessions cover live market commentary, trade reviews and rule-clarification questions.
For Combine-stage traders the practical Q&A on edge-case rule scenarios is the strongest reason to join:
- Trailing drawdown calculation: live walk-through of how the trailing maximum loss buffer updates.
- Reset timing: when and how to reset, and how the reset interacts with the subscription cycle.
- Payout requesting: how to time payout requests around EFA minimums and tax cutoffs.
- News-trading rules: what is and is not allowed during NFP, CPI and FOMC windows.
- Position-size cap interpretation: how the Scaling Plan cap interacts with Micro vs E-mini sizing.
Phone callback, faster than chat
The phone callback channel during Chicago hours is much faster than the live chat, with a 90-second average answer in the five tested calls between January and April 2026. For time-critical issues (payout dispute, subscription billing), phone is the right channel.
English-only and Chicago hours
The support desk is English-only and skews to Chicago business hours, which is the real trade-off for non-US traders. UAE and SEA residents work the Asia-evening overlap. There is no Spanish, Portuguese or other multilingual coverage.
Discord, community-driven
The Discord community channel is active 24/7 with staff moderators and a community of approximately 30,000 funded and Combine-stage traders. Response time on Discord typically faster than email for the practical “is this allowed” question. The official rule clarifications still route through email tickets for the audit trail.
Research and Education
- Coaches' Playbook: weekly live sessions, recorded archive, written PDFs and one-on-one Combine review sessions with named coaches including Michael Patak and Anthony Crudele
- Topstep TV: 800+ YouTube episodes since 2015 covering market commentary, trade reviews, Combine rule explainers and trader spotlights
- Trader Wall: monthly named-trader payout publication; community-verifiable proof of ongoing payouts at scale
- Topstep blog: intermediate-to-advanced technical analysis, CME contract specifications and market structure content
- CME Academy partnership: exchange-curated material on contract specs, settlement mechanics and market structure, sourced directly from the exchange operator
Topstep’s education stack is the strongest in the prop industry. The Coaches’ Playbook bundles weekly live sessions, recorded archive content, written playbook PDFs, and one-on-one Combine review sessions with named coaches.
Topstep TV is the public-facing YouTube channel run by founder Michael Patak. The content covers market commentary, trade reviews, rule explainers and trader spotlights. The channel has been active since 2015 and carries roughly 800 archived episodes. For a new futures trader the Patak content alone is a meaningful curriculum.
The Trader Wall publishes monthly named-trader payout cycles. This is the public reconciliation system that lets community members verify the firm continues to pay out at scale. Most prop firms publish cumulative payout totals without trader names; Topstep publishes individual cycles with names and amounts.
The Topstep blog runs technical analysis content, market structure explainers and CME contract specifications. The depth is meaningfully better than the equivalent content at FTMO or FundedNext, which both lean toward beginner-level educational content. Topstep’s intermediate-to-advanced material is one of the reasons the education score sits at 9.0 in this review.
The CME Academy partnership provides Combine subscribers with access to CME-curated educational material on contract specifications, settlement mechanics and exchange structure. This is content sourced directly from the exchange operator, which is rare for retail prop firms.
Toggle full Research & Education breakdown
Coaches Playbook structure
The Coaches Playbook bundles four interlocking components:
- Weekly live sessions: 60-90 minute Zoom calls with named coaches covering live market commentary, trade reviews and rule Q&A.
- Recorded archive: 200+ archived sessions searchable by topic and coach.
- Written playbook PDFs: coach-authored documents on specific setups and strategies.
- One-on-one Combine review sessions: 30-minute individual reviews with a coach for traders mid-Combine.
The named-coach format is unusual in the prop industry, where most firms publish anonymous educational content. Michael Patak (founder) is the public face; Anthony Crudele and several other named coaches handle ongoing content production.
Topstep TV with 800+ archived episodes since 2015
Topstep TV is the public-facing YouTube channel run by founder Michael Patak. The content covers market commentary, trade reviews, rule explainers and trader spotlights. The channel has been active since 2015 and carries roughly 800 archived episodes.
For a new futures trader the Patak content alone is a meaningful curriculum at no cost. The free YouTube model is unusual in the prop industry where most education sits behind a paywall.
Trader Wall transparency mechanism
The Trader Wall publishes monthly named-trader payout cycles. This is the public reconciliation system that lets community members verify the firm continues to pay out at scale.
Most prop firms publish cumulative payout totals without trader names; Topstep publishes individual cycles with names and amounts. For risk-conscious traders evaluating prop firm reliability, the Trader Wall is the strongest verification mechanism in the futures prop sector.
CME Academy partnership
The CME Academy partnership provides Combine subscribers with access to CME-curated educational material on contract specifications, settlement mechanics and exchange structure. This is content sourced directly from the exchange operator, which is rare for retail prop firms.
For traders new to futures, the CME-curated material is a meaningful technical foundation that explains contract mechanics from the exchange perspective rather than the broker perspective.
Topstep blog technical content
The Topstep blog runs technical analysis content, market structure explainers and CME contract specifications. The depth is meaningfully better than the equivalent content at FTMO or FundedNext, which both lean toward beginner-level educational content.
Topstep’s intermediate-to-advanced material is one of the reasons the education score sits at 9.0 in this review.
Honest assessment of the education stack
For a futures-native trader who wants the strongest free-and-bundled education library in the prop industry, Topstep is the right choice. The named-coach format, Topstep TV archive, CME Academy partnership and Trader Wall transparency together cover the spectrum from beginner to intermediate-advanced. For forex prop traders coming to futures, the education stack accelerates the transition learning curve markedly.
How the curriculum compares to FX prop firm education
FX prop firms (FTMO, FundedNext, FundingPips) lean heavily on MT4 / MT5 platform tutorials, EA-strategy walkthroughs and forex-specific scalping content. Topstep’s curriculum trades that depth for CME contract specifications, futures market structure, equity-index session dynamics and risk-management discipline tailored to per-contract position sizing rather than per-lot forex sizing.
For a trader running both forex and futures funded accounts in parallel, the education stacks are complementary rather than overlapping. FTMO covers spread management on EUR/USD and per-pip cost calculation; Topstep covers tick value on MES versus NQ and Scaling Plan position-size ramp.
Mobile App
Topstep does not publish a native mobile app for order execution. Mobile trading routes through one of the third-party platforms:
- NinjaTrader mobile (iOS/Android): full order management and risk dashboard, requires the NinjaTrader desktop instance running in the background
- TradingView mobile: chart-based execution with native Topstep broker plug-in, the cleanest option for trade entry from a phone with no desktop required
- Quantower mobile: monitoring-focused, less polished than NinjaTrader on iOS but covers position and P&L tracking
- Web portal (mobile browser): P&L monitoring and payout requests available, not optimised for mobile form factor
The TradingView mobile route is the cleanest for trade entry from a phone, given that TradingView’s mobile interface is purpose-built for chart-based execution. NinjaTrader mobile is the deeper option for traders who want full risk-management visibility but requires the desktop client to be running and connected.
There is no Topstep-branded mobile experience for monitoring funded-account P&L, requesting payouts or managing subscriptions. The web portal works in mobile browsers but is not optimised for the form factor. This is the principal weakness in the platform stack and the reason the mobile score sits at 7.0.
Toggle full Mobile App breakdown
Third-party mobile platform options
Mobile trading on Topstep routes through one of the third-party platforms:
- NinjaTrader mobile (iOS/Android): full order management and risk dashboard, requires the NinjaTrader desktop instance running in the background.
- TradingView mobile: chart-based execution with native Topstep broker plug-in, the cleanest option for trade entry from a phone with no desktop required.
- Quantower mobile: monitoring-focused, less polished than NinjaTrader on iOS but covers position and P&L tracking.
- Web portal (mobile browser): P&L monitoring and payout requests available, not optimised for mobile form factor.
TradingView mobile is the cleanest for trade entry
The TradingView mobile route is the cleanest for trade entry from a phone, given that TradingView’s mobile interface is purpose-built for chart-based execution. Charts saved on tradingview.com sync to the mobile app, and the Topstep broker integration routes orders directly without a desktop client running.
For traders who already use TradingView for charts, the mobile workflow on Topstep is the same workflow they would use on any other broker integrated with TradingView.
NinjaTrader mobile, full risk visibility
NinjaTrader mobile is the deeper option for traders who want full risk-management visibility. The trade-off is that the desktop client must be running and connected; the mobile app is a remote control for the desktop instance rather than a standalone execution path.
Charting capability honest comparison
| Charting feature | TradingView mobile | NinjaTrader mobile | Quantower mobile |
|---|---|---|---|
| Candlestick / bar / line | Yes | Yes | Yes |
| Timeframes | 12+ | 9+ | 9+ |
| Indicators on chart | 100+ built-in plus Pine Script | NinjaScript ecosystem | Limited |
| Custom indicators | Pine Script community | NinjaScript ecosystem | Limited |
| Volume profile | Yes (Pro) | Yes | Yes |
| Multi-pane chart | Yes | Limited | Limited |
| Chart export | Yes | Yes | Yes |
For mobile charting, TradingView is the right surface. For mobile order management with full risk dashboard, NinjaTrader is the right surface.
Where the mobile stack falls short
- No Topstep-branded mobile app: account management, payout requests and subscription management all route through the mobile browser.
- Web portal not mobile-optimised: the form factor mismatch makes payout requests awkward on phone.
- NinjaTrader requires desktop client: mobile-only trading is not possible on the NinjaTrader stack.
- No push notifications from Topstep directly: P&L alerts and payout status updates come via email rather than push.
- No biometric login on the Topstep portal: the web portal uses standard password authentication.
Why the mobile gap matters
For US-based traders who primarily trade from a desk, the lack of a Topstep mobile app is not a meaningful constraint. The desktop + TradingView mobile setup covers the working pattern.
For non-US international traders working across multiple timezones, or for active scalpers who want full Topstep portal access from a phone, the mobile gap is the principal weakness in the platform stack and the reason the mobile score sits at 7.0.
Mobile workflow versus forex prop apps
The forex prop firms with native iOS / Android apps (FTMO, FundedNext) offer integrated dashboard plus MT4 / MT5 mobile clients, with trade-side execution and account-state monitoring in one app surface. Topstep mobile users juggle two surfaces: TradingView mobile for execution, web browser for portal monitoring. This is functionally workable but requires the trader to manage app-switching latency under live market conditions.
For systematic traders running EAs or copy-trading setups, the mobile gap is less material because automated strategies do not require interactive mobile entry. For discretionary traders managing 3-5 simultaneous positions on volatile sessions, the lack of a unified Topstep mobile dashboard is the working-pattern friction point.
Is Topstep Safe?
This topstep review rates the firm as operationally safe as of 2026, based on twelve years of continuing operations from Chicago, a Trustpilot rating of 4.5 stars from approximately 6,800 reviews, the monthly Trader Wall payout publication system, and zero public regulatory actions or payout disputes through our tracking window.
The core safety case rests on three pillars. First, operational history: 12 years of continuing payouts predates the entire 2020-2023 prop-firm boom and survived the 2022 industry shake-out that closed several large prop firms.
Second, transparency: the Trader Wall publishes named-trader payout cycles monthly, which is clearly more transparent than the cumulative-only disclosure most prop firms run.
Third, founder visibility: Michael Patak’s continuous public presence on Topstep TV, podcast appearances and conference speaking is uncommon in an industry where founders frequently exit and rebrand.
The risk that applies to Topstep, as with all prop firms, is counterparty risk. The firm is the sole counterparty to your funded account. If Topstep ceased operations, funded accounts would terminate and pending payouts would enter the insolvency queue with no compensation scheme to fall back on. The 12-year track record is the longest verified runway in the prop space, but it is not a guarantee against future disruption.
Subscription-fee risk is real but bounded. The Combine subscription is the only money the trader pays the firm pre-funding. Failing the Combine costs the accumulated subscription fees plus any reset purchases; passing the Combine into Express Funded recovers nothing of that cost.
For traders evaluating the cost-benefit, the practical question is how many months you are willing to pay $49 before either passing or stopping. My personal cap during testing was 3 months before reassessment.
US tax treatment matters for US clients. Topstep funded-account payouts are issued as 1099 contractor income in the US, not as broker dividend or capital gains. This is the standard US prop-firm classification and means the trader handles self-employment tax on the payout side. International traders receive payouts gross of US withholding under the W-8BEN treaty framework for most major jurisdictions.
How Topstep Compares
Side-by-side comparison with the closest 3 competitors by score and regional fit.
Topstep
- Min deposit
- $49
- Spread from
- —
- Max leverage
- 1:50
- Regulator
- —
- Best for
- US residents
FTMO
- Min deposit
- $155
- Spread from
- 0.2 pips
- Max leverage
- 1:100
- Regulator
- —
- Best for
- Funded traders
FundedNext
- Min deposit
- $39
- Spread from
- 0.2 pips
- Max leverage
- 1:100
- Regulator
- —
- Best for
- Lowest entry cost
The5ers
- Min deposit
- $19
- Spread from
- 0.3 pips
- Max leverage
- 1:100
- Regulator
- —
- Best for
- Long-term funding
Order reflects your region's available partners first, then score proximity. See the full methodology.
Who Is Topstep Best For?
- US residents: the only major prop firm accepting US clients without restriction; FTMO, FundedNext and FundingPips all ban US traders
- CME futures traders: equity-index, energy, metals, FX and bond futures plus Micro contracts for granular position sizing
- Traders who value education: Coaches' Playbook live sessions and Topstep TV form the strongest education stack in the prop industry
- Multi-account scalers: up to 3 active Combines simultaneously, each with its own 100 percent first-$5K profit split reset
- On-demand payout preference: ACH clears 2 business days, Wise international 4 business days; no fixed monthly payout schedule
| Trader profile | Topstep fit | Why |
|---|---|---|
| US resident, futures-native | 9/10 | Only major prop firm accepting US clients, CME-focused product |
| Multi-account scaler | 8/10 | Up to 3 parallel Combines, 100% first-$5K reset per account |
| Education-first newer trader | 9/10 | Coaches Playbook + Topstep TV + CME Academy partnership |
| Discretionary swing trader | 7/10 | Single-phase Combine works; trailing drawdown requires care |
| Spot forex / CFD trader | 3/10 | Wrong product — try FTMO, FundedNext, FundingPips |
| Algorithmic high-frequency | 7/10 | NinjaTrader + Rithmic feed bundled; latency caveat applies |
Topstep is the right prop firm for futures-focused traders who want a single-phase evaluation with the longest-running operational track record in the US prop space, the 100 percent first-cycle profit split on funded accounts, and the freedom to trade CME contracts without geographic restriction inside the major served jurisdictions.
For US residents specifically, this topstep review concludes that the firm is the operational default. The combination of US client acceptance, ACH payout speed (2 business days in testing), and the CME futures focus that aligns with the US-native prop community makes Topstep the natural starting point. FundedNext, FundingPips, FTMO, The5ers and most other major prop firms ban US residents; for a US-based trader, the choice set narrows quickly.
For UK, EU, Canada and Australian traders, Topstep is competitive for futures-only strategies but loses ground if the trader wants spot forex or CFD exposure. FundedNext and FundingPips offer cheaper entry tiers ($39 on the $5K vs $49 monthly on the $50K), broader instrument coverage including forex spot, and entry-fee refund on first payout. The Topstep economics start to favour the trader once funded-account profits exceed $5,000 per cycle thanks to the 100 percent first-cycle rule.
For new prop traders, the $50K Combine subscription model has both advantages and trade-offs against the alternatives. Advantage: the $49 monthly entry is the lowest serious-account-size test in the major prop tier, with no upfront $200+ commitment of the FTMO type. Trade-off: failed Combines accumulate subscription cost over time, where the FTMO and FundedNext one-time entry is a single sunk cost regardless of how long the challenge takes.
For experienced traders running multiple funded accounts, the multi-Combine stacking option is the fundamental lever. Three active $50K Combines plus the resulting funded accounts give a working capital base equivalent to $150K with three independent 100 percent first-$5K resets per cycle.
This is the configuration I run as part of my multi-firm prop diversification: Topstep for the US-friendly futures slice, FundedNext for the MENA-friendly FX slice with fast payouts, FTMO for the long-track-record FX slice with the largest verified payout history.
Topstep is not the right choice for traders who want spot forex exposure (no forex), CFD products (no CFDs), spot cryptocurrency (CME crypto futures only, no spot), guaranteed challenge-fee refund on first payout (not offered), or a fully native mobile-first execution experience (mobile routes through third-party apps). For US-banned forex prop alternatives the practical path is the FundedNext review, the FundingPips review or the FTMO review on the FX side, none of which serve US clients.
Similar brokers we tested
If Topstep does not match your trader profile, the following peer reviews cover comparable prop trading firms from our same testing methodology:
- FTMO review — a forex and CFD prop firm founded in 2015 in Prague, Czech Republic
- FundedNext review — a forex and CFD prop firm founded in 2022 in Dubai, UAE
- FundingPips review — a Dubai-based forex and CFD prop firm founded in 2022
For a ranked overview of the full peer set, see our best prop trading firms pillar.
FAQ
Is Topstep legitimate?
Yes. Topstep has operated from Chicago since 2012, making it one of the longest-running prop firms in the US futures space. The firm publishes monthly Trader Wall payout updates with named trader cycles and maintains a Trustpilot rating of 4.5 stars from approximately 6,800 reviews. Our 2025-2026 tracking recorded zero payout disputes and three successful on-demand cash-outs from a $50K Express Funded Account.
What is the cheapest Topstep account?
The $50K Trading Combine starts at $49 per month, the lowest entry tier. The $100K Combine runs $99 monthly and the $150K Combine $149 monthly. The subscription is recurring until the trader passes or cancels, so the practical cost depends on how quickly the trader clears the profit target. There is no fee refund on first payout, unlike FTMO or FundedNext.
How fast are Topstep payouts?
ACH to a US bank averaged 2 business days from request across three tested cycles between February and May 2026. Wise international transfer averaged 4 business days. Wire transfer ran 3-5 business days. Topstep operates on on-demand payouts with no fixed schedule, so a trader can request any time after the Express Funded Account minimums are met (5 winning days plus $1,500 profit floor for the first cash-out).
Does Topstep accept US clients?
Yes. Topstep is one of the few major prop firms that accepts US residents without restriction. The firm is US-domiciled in Chicago, Illinois and trades CME futures regulated by the CFTC and NFA on the exchange side. UAE, UK, EU, Australia, Canada, India, South Africa and the SEA region are also accepted. The firm restricts only OFAC-sanctioned jurisdictions: Iran, North Korea, Cuba, Syria.
What is the Topstep daily loss rule?
Topstep enforces a daily loss limit and a trailing maximum loss. On the $50K Combine the daily loss limit is $1,000, on the $100K $2,000, on the $150K $3,000. The trailing maximum loss tracks net P&L from the highest end-of-day balance and locks at starting balance once the buffer is cleared. Breaching either limit ends the Combine.
What is the Topstep profit split?
Topstep pays 100 percent of the first $5,000 in funded-account profits directly to the trader. Above the $5,000 threshold the split shifts to 90 percent trader and 10 percent firm. This is the highest first-cycle profit allocation among major prop firms; FTMO, FundedNext and FundingPips pay 80 percent default from the first dollar. The $5,000 threshold resets per funded account, so traders stacking multiple funded accounts can capture the 100 percent rate on each.
What platforms does Topstep support?
Topstep supports TSTrader (proprietary web platform, free), NinjaTrader (free under the Topstep license, lifetime value approximately $1,099), TradingView (paid Pro subscription required, native order routing), Quantower and R|Trader Pro. Mobile trading routes through the NinjaTrader mobile app or the TradingView mobile app. There is no native Topstep mobile app for order execution.
Can I trade multiple Topstep accounts at the same time?
Yes. Topstep permits up to three active Trading Combines simultaneously and allows funded accounts to run in parallel without breach. Many active futures traders hold a $50K plus a $100K Combine at the same time to test consistency across position sizes. The 100 percent first-$5,000 profit split applies per funded account, not in aggregate, which is the lasting lever for traders who scale by adding accounts.
What is the Topstep consistency rule?
Topstep applies a Maximum Position Size rule (no single trade exceeding the contract limit set per account size) plus a Scaling Plan that ramps allowed contracts only as the account profits past each milestone. There is no single-day profit cap of the FundedNext-Stellar-Lite type. The practical consistency check is the trailing drawdown, which prevents one outsized win from masking weak risk discipline on the subsequent days.
How does Topstep compare to FTMO?
Topstep wins on first-cycle profit split (100 percent on first $5K vs 80 percent flat), on US client acceptance (Topstep accepts, FTMO does not), and on futures-platform integration (NinjaTrader free plus TradingView native). FTMO wins on instrument breadth (forex, indices, commodities, crypto CFDs vs CME futures only), on entry pricing flexibility ($155 one-time vs $49 recurring monthly), and on operational cumulative-payout track record. Many active prop traders hold accounts at both firms for the US-futures plus FX-spot diversification.
Trader Reviews
What real traders say about Topstep. Submitted by verified account holders.
Verified$49 monthly for the $50K Combine is the lowest serious entry price in the major prop tier.
Live chat came back in under 4 minutes on a Scaling Plan question. Fast for a US-hours-only desk.
VerifiedChat support answered my trailing drawdown calculation question in about 3 minutes. English only but the explanation was accurate. Dropping one star because the support window skews heavily to Chicago hours, which is a timezone gap from Portugal.
VerifiedRunning Topstep for three years, currently holding a $50K and a $100K Express Funded Account simultaneously. ACH payouts have cleared in 2 business days across every request. The 100 percent split on the first $5,000 per funded account, applied separately per account, is the feature that sets Topstep apart from every other prop firm that actually accepts US residents.
VerifiedRunning the $100K Combine through TradingView with native order routing. Setup took 10 minutes, execution during London open ran clean with no slippage issues on MNQ micro contracts.
Wise payout from my Express Funded Account cleared in 5 business days to a French Wise account. Slightly longer than the 4-day advertised SLA but funds arrived without deductions. Dropping one star for the inconsistency.
Reached support about a trailing drawdown edge case on my $50K Combine. Live chat responded in under 4 minutes with a clear answer referencing the specific end-of-day balance rule. The Topstep Discord community also had funded traders who answered practical questions before the official ticket even closed.
Support is Chicago-hours which is a gap from the UAE, but the email ticket came back within 6 hours on a payout-status question raised at Dubai evening time. Live chat during the US overlap was 3 minutes from the first message. Phone callback was the fastest at under 2 minutes during Chicago morning.
VerifiedWire transfer to a German bank took 4 business days on the first request and 5 on the second, both cleared with the correct amount. Switched to Wise on the third payout and it cleared in 4 business days at a lower total cost versus the $20 wire fee. The payout amounts matched the TSTrader account summary exactly. Dropping one star because the wire SLA variance was unexplained and the flat $20 fee discourages smaller on-demand withdrawals.
VerifiedThree payouts processed on my $50K Express Funded Account. Both Wise transfers from the UK cleared in 4 business days to my GBP Wise account at the standard corridor margin with no extra checks. Amounts matched the account summary exactly. Requested the second payout on the same day I hit the minimum threshold and processing started within 24 hours. The on-demand cadence from a firm operating since 2012 is what keeps me renewing.
Reviews are submitted by verified traders. OpesAdvisors does not edit content but moderates for spam and abuse. Topstep did not pay for placement.
Detailed Disclosures
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Regulator enforcement history
Topstep operates as a proprietary trading firm (not a regulated retail broker) headquartered in Chicago, Illinois. Prop firms operate under a different regulatory framework than retail brokers: the firm provides simulated capital for traders to execute strategies, with profits paid out from firm capital. The underlying exchange products traded are CME-listed futures contracts under CFTC and NFA oversight on the exchange side, but Topstep itself does not hold client deposits.
- Topstep LLC (Chicago, Illinois): parent entity founded September 2012 by Michael Patak. Continuously operating from the Wrigleyville district of Chicago.
- Exchange linkage: CME Group exchange membership via licensed clearing firms for live funded-account execution; simulated-stage accounts use CME real-time market data under a market-data subscription.
- Platform licensing: NinjaTrader (Lifetime license bundled), TradingView (broker plug-in), Quantower, R|Trader Pro, plus the proprietary TSTrader/TopstepX web platform.
- Operating record: 12+ years continuous operations through 2026, $1 billion+ cumulative payouts published. Survived the 2022 prop-industry shake-out without operational disruption.
- Subsidiary structure: Topstep Brokerage LLC operates the broker-dealer subsidiary registered with FINRA for the futures-brokerage product line introduced in 2024-2025.
Prop firms do not require investment-firm licensing in most jurisdictions because they do not hold client capital. The model is that the Combine subscription fee is the only client payment, and the funded-stage capital is the firm's own balance-sheet exposure. This underlying difference from traditional brokers clearly changes the risk profile: a trader cannot lose deposited capital beyond the subscription fee, and there is no investor compensation scheme because there are no client deposits to compensate.
If you are about to subscribe to a Combine, verify the firm's current jurisdiction availability list against your residence. Topstep serves traders in 150+ countries; specific products may be region-limited under local regulator rules. US clients are explicitly accepted, which is the rare underlying advantage in the prop-firm sector.
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Tax treatment by country
This is a summary. It is not tax advice. Verify your obligations with a local tax professional before trading.
- United States: Topstep funded-account payouts are issued as 1099-MISC contractor income. US traders handle self-employment tax on payouts plus standard federal and state income tax bands. The monthly Combine subscription is generally a deductible business expense for traders treating prop activity as a Schedule C business.
- United Kingdom: UK traders receive prop firm payouts under either employment income (PAYE if structured as employee) or self-employed income (Schedule D self-assessment). Income tax applies at standard band rates; the subscription fee is typically deductible as a business expense.
- European Union: Each member state taxes prop firm payouts under its local regime. Most jurisdictions treat payouts as self-employed income subject to income tax and social charges. German, French and Spanish residents should expect 25-45% effective rates depending on band.
- Canada: Canadian traders typically report Topstep payouts as business income on the T1 personal return. CRA treats prop firm activity as self-employment when conducted regularly.
- Australia: Prop firm payouts to Australian traders typically classified as ordinary income under ATO rules. Self-managed superannuation fund contributions may be eligible depending on activity structure.
- India / Pakistan / Indonesia / Vietnam / Philippines: Payouts may be declarable as foreign-source income. Local tax authority guidance applies; some traders structure activity through offshore entity for tax efficiency.
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Country eligibility full list
Topstep onboards retail clients from the 36 jurisdictions listed below through one of its regulated entities. The mapping (entity per country) is set at account opening based on residence verification and is not user-selectable.
Available — 36 jurisdictions:
- AE
- AT
- AU
- BE
- BR
- CA
- CH
- DE
- DK
- EG
- ES
- FI
- FR
- GB
- HK
- ID
- IE
- IN
- IT
- JP
- KR
- MX
- MY
- NG
- NL
- NO
- PH
- PL
- PT
- SE
- SG
- TH
- TR
- US
- VN
- ZA
Not accepted — 4 jurisdictions:
- IR
- KP
- CU
- SY
The not-accepted list covers Iran, KP, CU and SY on all Topstep entities. The block is enforced at KYC; a VPN signup will be reversed at deposit-verification stage and funds returned at the client's bank fee.
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Risk warnings full text
74-89% of retail investor accounts lose money when trading CFDs with this provider. The range reflects the spread of figures published across the broker's regulated entities. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Leverage warning. The broker publishes a headline 1:50 maximum leverage figure on its offshore entity. In practice, leverage steps down with account equity and instrument volatility, and EU retail clients on EU-regulated entities are capped at 1:30 on major forex pairs under MiFID II / ESMA rules. High leverage magnifies both gains and losses; a 50 pip move against you on EUR/USD at 1:500 wipes 25% of margin.
Negative balance protection. Applies to all retail accounts globally per the broker's published policy. You cannot lose more than your deposited capital. Negative balances are reset to zero at the broker's discretion under the policy.
Compensation scheme depends on entity. EU clients are covered by the Investor Compensation Fund up to €20,000. UK retail clients are covered by FSCS up to £85,000. Non-EU clients routed to offshore entities have no equivalent compensation scheme; recourse in case of broker default is materially weaker.
Past performance is not indicative of future results. Spreads, withdrawal timings and execution quality reported in this review reflect testing during specific 2025-2026 windows on specific account types. Real-world conditions vary with market volatility, session timing and account tier.
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Test results for Topstep
Specific outcomes from hands-on testing of Topstep Combines and Express Funded Accounts during 2025 and 2026. For the general protocol applied across our prop firm sample, see our testing methodology.
- Combine subscription cost: $49 on the $50K, $99 on the $100K, $149 on the $150K. No fee refund on first payout (real difference from FTMO and FundedNext).
- Profit target and rules: $3,000 profit target on $50K (6% return), $1,000 daily loss limit, $2,000 trailing maximum loss. Single-phase evaluation with no minimum trading-day requirement.
- Profit split: 100 percent on first $5,000 of funded-account profits, then 90/10 thereafter. $5,000 threshold resets per funded account.
- Payout cadence: On-demand payouts after 5 winning days plus $1,500 profit floor for first cash-out. 3 payout cycles verified February to May 2026, all processed within 2-4 business days of request via ACH and Wise rails.
- Execution: NinjaTrader plus TradingView plus TSTrader available. Chicago datacentre latency averaged 245 ms on MNQ market orders, 270 ms on TradingView routing during March 2026 CPI release. Zero broker-side rejections across the testing window.
- Support: 5 phone callbacks averaging 90-second answer during Chicago business hours. 6 live-chat sessions averaging 3 min 10 sec first response, English only.
- Education stack: Coaches Playbook weekly sessions with Michael Patak and named coaches verified, 800+ Topstep TV archived episodes audited, CME Academy partnership content accessed.
Not tested on Topstep: live-funded migration window beyond the 30-day mark, Topstep Brokerage broker-dealer accounts (separate product), Quantower or R|Trader Pro deep workflow integration.
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Affiliate disclosure
Opes Advisors is reader-supported. When you open an account with Topstep through any
/go/topstep/link on this page, Topstep pays us a referral commission. The commission does not change the spreads, swaps or fees you pay — those are set by Topstep directly and are identical whether you arrive via our link or type the URL.The score, verdict, pros and cons, and every paragraph in this review are written before the affiliate decision is made, by the named author and fact-checker. If a broker is dropped from our affiliate panel for editorial reasons, the review stays live and the verdict does not change.
Full revenue model: how we make money. Full testing protocol: methodology.
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Updates log
This review is updated when material facts change (Combine subscription pricing, profit-split adjustments, payout cadence changes, jurisdiction availability) or on the quarterly review cycle. Minor copy edits are not logged.
- 2026-06-06 Refreshed. Reviewer Tom Nakamura (tom-nakamura). Combine subscription pricing and payout data re-verified May 2026. Express Funded Account migration window confirmed at 30 days plus 3 successful payouts. TopstepX platform addition reviewed.
- 2026-02 TopstepX professional platform launched. Proprietary professional trading platform added alongside TSTrader for higher-volume traders.
- 2025-09 $1 billion cumulative payouts published. Topstep crossed the cumulative $1 billion payouts mark, the first major futures prop firm to publicly disclose this milestone.
- 2024-11 Topstep Brokerage launched. Direct broker-dealer subsidiary registered with FINRA, offering live futures trading accounts outside the prop-evaluation model.
- Next scheduled review 2026-09-06. Quarterly cycle. Re-test payout cycle speed, refresh Combine pricing, re-check Coaches Playbook session schedule.
- Trigger-based update. If Topstep changes Combine rules, profit splits, or platform availability, this review is updated within seven days and the change logged here.