If you’re researching futures prop firms, Topstep is probably the first name you’ve come across. It should be — they invented the funded trader evaluation model back in 2012 and every other prop firm has essentially copied their approach.
But does that mean it’s still the best option in 2026?
I’ve traded a funded Topstep account personally, so this review is based on real experience — not just what’s written on their website.
Topstep at a Glance
Founded: 2012, Chicago
Markets: Futures only (CME Group instruments)
Account sizes: $50,000 / $100,000 / $150,000
Profit split: 100% of first $10,000, then 90/10
Drawdown: Trailing end-of-day
Platform: TopstepX (required for new accounts)
Payout methods: ACH, bank wire, Wise
News trading: Allowed
Overnight holding: Not permitted
Weekend holding: Not permitted
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How the Topstep Evaluation Works
Topstep uses a one-step evaluation called the Trading Combine. You pay a monthly subscription, get a simulated account at your chosen size, and trade until you hit the profit target without breaching any rules.
There’s no time limit — you progress at your own pace. This is one of Topstep’s biggest advantages over firms that give you a 30-day window and force you to overtrade.
Once you pass the Combine, you move to an Express Funded Account. From there you can progress to a Live Funded Account where real capital is involved.
Profit targets by account size:
$50,000 account — $3,000 profit target
$100,000 account — $6,000 profit target
$150,000 account — $9,000 profit target
Monthly subscription fees:
$50,000 account — from $49/month
$100,000 account — from $99/month
$150,000 account — from $149/month
Note that Topstep also offers a No Activation Fee path at a slightly higher monthly cost, and a Standard path where you pay a one-time $149 activation fee after passing the Combine.
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The Drawdown Rules Explained
Topstep uses a trailing end-of-day drawdown — and understanding this is critical before you start trading.
The drawdown trails from your highest end-of-day balance, not your intraday peak. This is genuinely more forgiving than firms that use intraday trailing drawdowns, because intraday spikes don’t permanently raise your floor.
Maximum drawdown limits:
$50,000 account — $2,000 trailing drawdown
$100,000 account — $3,000 trailing drawdown
$150,000 account — $4,500 trailing drawdown
There’s also a daily loss limit — a hard stop on how much you can lose in a single session. Breach it and you’re locked out for the rest of the day.
The trailing drawdown is the rule that catches most traders. If you run your account up $2,000 then give it all back, your drawdown floor has moved up with you — meaning you now have effectively zero buffer remaining. Consistent, disciplined trading is the only way to manage it.
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Payout Structure
Topstep updated their payout structure in January 2026. Here’s how it works now:
Traders keep 100% of the first $10,000 in profits, then 90% after that. This is a solid deal — most competing firms offer 80–90% from the start.
To request a payout you need to achieve five winning days where each winning day has a net P&L of $200 or more. These don’t need to be consecutive.
Payouts are processed via ACH, bank wire, or Wise. Processing typically takes 8 or more business days — this is slower than some newer competitors who offer weekly or bi-weekly payouts.
In 2026 Topstep also introduced a Consistency Path option alongside the Standard Path. The Consistency Path requires a minimum of 3 trading days and a 40% consistency target — meaning no single day can account for more than 40% of your total profits. This suits traders who spread their performance over multiple sessions rather than relying on one big trade.
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What Instruments Can You Trade?
Topstep is futures-only, which is a strength not a weakness. They specialise in CME Group instruments and the support, rules, and risk tools are all built around futures specifically.
Available instruments include equity indices (MNQ, NQ, MES, ES, MYM, YM), metals (MGC, GC), energy (CL, MCL), interest rates (ZB, ZN), currencies (6E, 6B) and more.
For traders focused on Micro Gold (MGC) or Micro NQ (MNQ) specifically — which is the London session setup most retail prop traders favour — Topstep gives you full access to both.
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The TopstepX Platform
This is one of the bigger changes in recent years. Topstep has moved all new Combine accounts to their proprietary platform TopstepX, replacing the previous option to use NinjaTrader or Tradovate from day one.
TopstepX is a web-based platform — no download required, works in a browser. It’s clean, fast, and has built-in risk tools that automatically enforce the daily loss limit and drawdown rules. For newer traders this is genuinely useful.
For experienced traders used to NinjaTrader’s advanced order entry and charting, the transition can feel like a step down. TopstepX is functional but doesn’t have the same depth of tools as dedicated futures platforms.
The good news is that NinjaTrader and other platforms are still available at the Live Funded Account stage.
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Who Is Topstep Best Suited For?
Topstep is the right choice if you are a disciplined day trader who closes positions before the session ends, comfortable with a trailing drawdown model, looking for a firm with a long track record and reliable payouts, or new to prop trading and want the most established name in the industry.
Topstep may not be the right choice if you want to hold positions overnight or over the weekend, prefer 100% profit splits from the start, want the cheapest evaluation fee on the market, or need advanced platform tools like NinjaTrader from day one.
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Topstep vs The Competition
Topstep is the most established futures prop firm but not necessarily the best value in 2026. Apex Trader Funding offers comparable account sizes with more flexible rules and frequent fee discounts. Elite Trader Funding offers 100% profit splits and weekend holding. Funded Trading Plus offers instant funding with no evaluation required.
That said, Topstep’s track record, education resources, and consistency of payouts still put it ahead of most newer firms for traders who prioritise reliability over flexibility.
You can compare all the major futures prop firms side by side on our Prop Firm Comparison page.
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The Verdict
Topstep is still one of the best futures prop firms in 2026 — but it’s no longer the automatic first choice it once was.
The trailing end-of-day drawdown is genuinely trader-friendly. The no-time-limit evaluation removes pressure. The education resources are excellent. The payout track record over 13 years is unmatched.
The downsides are real though. The monthly subscription model means failed attempts are expensive over time. The TopstepX platform transition frustrated experienced traders. And newer firms are offering more generous profit splits and flexibility.
Bottom line: If you want the safest, most established futures prop firm with the best educational support, Topstep is still the benchmark. If you want the best value for money in 2026, it’s worth comparing the alternatives first.
Our rating: 8/10
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Always Be Trading is an independent futures trading education site. This review reflects our honest assessment based on first-hand trading experience and publicly available information. Always verify current rules and fees directly with Topstep before enrolling. Nothing here constitutes financial advice.