Topstep, a leader in the futures prop trading industry for over a decade, is the go-to firm for traders seeking funding and skill-building. This Chicago-based powerhouse, led by CEO Michael Patak, himself a former Dow futures floor trader, has perfected the art of partnering with traders for shared success.
Their flagship program, the “Trading Combine,” offers traders a unique opportunity to earn funding while refining their skills and mastering trade execution. It caters to traders at every stage—whether you’re just dipping your toes into the market or are a seasoned professional. Successful traders get access to capital without the usual financial risks, keeping a significant portion of their profits. For those just starting out, the program offers a safety net, allowing them to learn and grow without the high cost of mistakes.
Topstep’s profit-sharing structure is appealing: the first $10,000 is entirely yours, and after that, you keep 90% of your earnings. Since 2020, Topstep’s funded traders have withdrawn over $23,000,000 in profits, with more than 800 funded accounts paid out each month. This review dives into the workings of Topstep, exploring why it’s thriving in the competitive prop trading landscape, detailing its 1-step evaluation program, ongoing fees, available trading instruments, and much more.
Topstep Simulated Accounts Overview
Topstep offers a unique gateway to earning a funded trading account. To qualify for one, you must first prove your trading prowess in their simulated program called The Trading Combine. This intensive, hands-on evaluation puts you in a simulated futures trading environment where you develop your strategies and demonstrate profitability. When you achieve set trading objectives, you’re on your way to a funded account, but even if you don’t reach that goal, you’ll leave with valuable trading discipline and refined skills.
Topstep’s simulated accounts come with different starting balances, varying numbers of allowable open positions, and distinct daily and total loss limits. As a unique twist, the initial balance in your simulated account becomes the funding capital of your funded account when you successfully complete The Trading Combine.
Topstep Pricing Structure
Topstep’s pricing for The Trading Combine varies based on the size of the account you choose. There are three main account tiers, each with a different monthly cost. The entry-level account, starting with $50,000 in simulated funding capital, is priced at $49/month. The top-tier account, with a $150,000 balance, costs $149/month. Your choice of simulated account size directly influences the size of the funded account you could receive upon successful completion of the program.
While Topstep offers a 14-day Free Trial for those who want to test the waters, the trades made during this period don’t count toward earning a funded account. If you do complete The Trading Combine and earn a funded account, there’s a one-time activation fee of $149 to cover onboarding costs. This fee helps support ongoing services for new funded traders, including evaluation and continuous guidance.
All traders pay a one-time $149 Activation Fee per Express Funded Account upon passing. It is the same for all account sizes.
What Does This Activation Fee Cover?
The activation fee provides essential support for funded traders, covering services such as:
- Account setup and monitoring
- Platform and data costs
- Advanced software for contract and payout management
- Continuous assistance from expert Risk Managers and Funding Specialists
Becoming a funded futures trader at Topstep is an achievable goal for skilled traders, with the opportunity to earn a funded account in as little as two days. This fast-track process, known as the Trading Combine, involves reaching a profit target while adhering to strict trading guidelines established by seasoned professionals. These rules are designed to ensure discipline and minimise risk.
In the competitive world of trading, only about 22% of participants succeed in becoming funded traders. But those who do can start earning real money—keeping the first $10,000 in profits and then 90% of profits thereafter.
Even after achieving funded status, strict rules still apply. Although there’s no ongoing simulation fee, a one-time activation fee of $149 is required for each Funded Account. However, by following Topstep’s tested strategies, dedicated traders can leverage their skills to create a profitable career.
Trading Combine® Rules & Objectives
1 Step. 1 Rule. The Trading Combine
THE #1 RULE
Topstep is all about instilling discipline and mastering risk management—key ingredients for a trader’s success. By focusing on these crucial skills, Topstep empowers traders to navigate the markets with confidence and set themselves up for sustained profitability. This approach transforms risk management from a mere concept into a powerful tool, giving traders the foundation they need to thrive in the long run.
- The most important rule is to never hit or exceed your Maximum Loss Limit.
- The Maximum Loss Limit is the most a trader can lose, updated at the end of each trading day, based on the realised profits made in the trader’s account. It helps traders keep the profits they have earned and encourages them not to give too much back to the markets.
- Exceeding the Maximum Loss Limit results in a rule break and your account will no longer be eligible for funding.
- The Maximum Loss Limit is critical to risk management and longevity in the markets. Remember to “always trade for tomorrow”.
- The Maximum Loss Limit is based on your end of day balance and is designed to give you more room to trade.
Trading Plan Objectives
The Trading Plan outlines clear objectives for traders to adhere to, emphasising a structured and fair approach. It’s important to understand that following this plan does not carry the risk of being labelled a rule-breaker or facing disqualification from funding. This assurance provides a sense of security and encourages traders to focus on honing their strategies without fear of negative repercussions.
- Consistency Target
○ Best Day below 30% of total profits made. - Profit Target
○ Reach and maintain the $3,000 profit target. - Daily Loss Limit
○ Do not hit or exceed the Daily Loss Limit or your account will be deactivated for that trading day.
Earn Funding In 2 Days
Topstep’s 1 Step. 1 Rule. The Trading Combine offers traders lightning-fast access to funding—in as little as 2 days! A game-changing pace in the prop trading world. Nevertheless, Topstep prioritizes discipline and risk management for traders.
- Topstep’s evaluation program Trading Combine allows you to earn funding in as little as four days!
- This is the fastest program you will find across the prop firm industry.
- Topstep wants to quickly reward hard working and disciplined traders with the capital funding they deserve.
- Topstep has the #1 Payout Policy in the industry. Funded Traders can pay themselves up to 4 times a month!
If you follow these guidelines as well as reach/maintain the profit target and consistency target, you will then advance to the Express Funded Account.
For more information about the rules and objectives, you can head to the Topstep Help Centre which is of great assistance when it comes to explaining the rules.
Topstep Funded Trader Benefits
Free Coaching
Group Coaching:
Group Coaching offers an invaluable opportunity to engage with industry pros and network with fellow traders. Discuss market trends, catch up on the latest news, and get your most pressing questions answered by seasoned futures trading expert John Hoagland every Monday, and Wednesday at 1 PM CST.
(NEW!) One-on-One Coaching:
Check in with an expert regularly to refine your trading strategy, keep risks in check, and hone the winning mindset to secure funding and turn profits. Their coaches are all about guiding you toward success!
Digital Coaching with Coach T:
Topstep’s trading dashboard features Coach T, a digital performance coach to elevate your trading game. With a robust suite of tools and tailored insights, Coach T guides you toward becoming a smarter, more disciplined trader. It’s like having a seasoned trading mentor by your side, every time you log in.
Trading Platform
Topstep has taken a giant leap in the world of futures trading with the launch of its innovative platform, TopstepX™. This cutting-edge addition is redefining the way traders interact with the market, offering a sleek and seamless experience that raises the bar for trading platforms.
TopstepX™
TopstepX™ is a cutting-edge trading platform crafted specifically for Topstep traders. With over a decade of experience and invaluable insights, CEO Mickael Patak joined forces with elite traders and top software developers to build a groundbreaking platform that redefines trading. TopstepX™ doesn’t just provide a place to execute trades; it delivers the Ultimate Trading Xperience™. Through TopstepX™, traders can access all of Topstep’s resources and tools in one sleek, intuitive platform, offering a seamless and unparalleled trading experience.
TopstepX™ Features
Creating a TopstepX™ account is an absolute breeze! Get ready to embark on an electrifying journey into the world of trading, all from the comfort of wherever you are.
- Sign up and start trading in under a minute, without any connection instructions.
- The web-based trading platform is compatible with both Macs and PCs.
- Topstep plans to introduce a dedicated mobile app for both iOS and Android in the near future.
The TopstepX platform offers incredible features:
- The evaluation process, The Trading Combine®, is always only one step, with one rule.
- Fully integrated licensed TradingView® charts, offering traders drawing tools, indicators, and customizations.
- The Tilt™, a prop trading indicator providing real-time insights into the bias long and bias short of all Topstep traders.
- Dedicated data feed directly from the (CME) Chicago Mercantile Exchange.
- Simple ‘bracket’ orders with drag and drop profit and risk targets, which help traders deal with all the mathematics.
- Simplified production selection, ensuring traders remain on the front month and avoid excessive contracts.
- Auto-closure of positions at end-of-day and auto-liquidation when you achieve your profit target, preventing you from trading past it.
- Integrated live TopstepTV™ feed for motivational support throughout the trading day.
- Live Chat Support connecting traders directly with the Topstep support team.
- Permitted products drop-down table with individual indicators showing if the market is open for specific products.
You can explore the TopstepX™ trading platform further here.
Additional Trading Platforms
Topstep Trader offers an impressive range of trading platforms, catering to both practice simulations and real-world funded accounts.
- TSTrader
- NinjaTrader 7
- Tradovate
- TradingView®
- Sierra Chart
- T4
- ATAS (Order Flow Trading)
- Jigsaw Trading
- R|Trader
- Volfix
- MultiCharts
- MotiveWave
- Bookmap X-RAY
- Trade Navigator
- Investor/RT
Trading Products
TopstepX™ Features
Creating a TopstepX™ account is a breeze, and once you’re in, you’re set to trade effortlessly from wherever you are.
- Sign up and start trading in under a minute, without any connection instructions.
- The web-based trading platform is compatible with both Macs and PCs.
- Topstep plans to introduce a dedicated mobile app for both iOS and Android in the near future.
Trading Hours
Positions cannot be held on trading days between 3:10 p.m. and 5:00 p.m. Central Time (in Trading Combine accounts). Some futures markets close before 3:10 p.m. Central Time. If you are trading one of these products, you must exit that market before the daily close of the given product. You should also consider the designated holidays according to the CME Protocol.
More info about Topstep rules and trading hours at Topstep.com
Topstep’s Payouts
Topstep has one of the best, if not the best payout policy in the prop trading industry. It gives traders the flexibility to take weekly payouts and rewards consistency by offering 100% of profits after 30 winning trading days.
Traders have the option to claim a payout of up to 50% of their account balance, provided they hit five winning trading days for each payout request. A winning trading day is defined as any day where the Net PNL reaches $200 or more. This flexibility allows traders to take advantage of their success and maintain cash flow while still actively engaging in trading activities.
Once traders have achieved 30 days of successful trading, they unlock the door to their full account balance. At this point, they can claim up to 100% of their balance when they request a payout. However, they should remember that asking for the full 100% will close the Funded Account, as the balance will drop to the Maximum Loss Limit. Payout requests are flexible and can be made at any time, for any amount, up to 100% of the account balance.
Topstep TV
Topstep has taken a bold leap forward with an innovative addition that sets it apart from other prop firms in the industry. Introducing Topstep TV—streaming live from the company’s headquarters—this is where traders can gain insights from seasoned professionals every weekday. The fresh YouTube channel has quickly garnered attention, winning over the Topstep community with its engaging content and interactive format. It’s an exciting new way to stay connected and learn from the best!
- Opportunity for traders with little capital to achieve a funded trading account
- Prop trading firm with over 10 years of experience in the industry and an excellent reputation
- Topstep TV (streaming live every Monday-Friday)
- Funded traders keep 100% of their first $10,000 profit and a 90/10 of Profit Split thereafter
- Free training and coaching programs to help you safely and securely succeed in becoming a Topstep Trader
- Simulator forces extremely high standards for trading and minimizes risks
- 60% Discount offer (no code required) on the purchase of your first Trading Combine
- Industry leading Trader Support team. Offers email, phone, screen share, and chat support
- Fast Payout Processing
- Futures trading only
- Funded traders are treated as professionals when paying the exchange fees, which results in higher monthly fixed costs for exchange data feeds
- No small (10k or 25k) evaluation programs available
Conclusion
Topstep is the ultimate launchpad for both aspiring and seasoned futures traders. They’re all about creating a secure space where traders can turn their passion into profits without the risk of losing their own capital. With their signature Trading Combine®, an intense simulated trading evaluation, Topstep offers a clear path to trading with their funding. This is the perfect opportunity for traders who crave substantial buying power to fuel their trading career, those who are passionate about trading but have trouble with consistency, and beginners eager to dive into trading with expert support.
Topstep’s funding program stands out because it opens doors to various trading platforms and educational resources. A notable highlight is the digital performance coaching sessions with Coach T, where traders gain access to invaluable tools and customised trading stats that help them trade smarter and with more discipline.
All in all, Topstep has crafted a top-tier proprietary futures trading firm where traders can experience optimal trading conditions within a safe and supportive environment. If you’re ready to take your trading to the next level, Topstep is where you’ll want to start.