Topstep Review 2026: Is Topstep Legit?

Yes, Topstep is a legitimate futures prop firm. Topstep Trader launched in Chicago in 2012, it publishes its Trading Combine, drawdown and payout rules in a public help centre, and it holds a 3.7 Trustpilot score from 15,064 reviews. Like every firm in this space, the evaluation and Express Funded Accounts are simulated, and a move to a Live Funded Account is decided by Topstep's Live Accounts team.

Pick Topstep if you want the lowest monthly entry price, a pass in as few as 2 days, a 90/10 split and fast payouts, and you are happy to be flat by 3:10 PM CT every day. Pick Elite Trader Funding (ETF) if you want to choose between live trailing, end of day and static drawdown, want to skip the evaluation with a Direct to Funded plan, or want a defined route to live capital: ETF considers traders for LIVE ELITE after 1 Reward, 5 active trading days or $1,000 in Rewards.

ETF is a futures prop firm too, which makes us a Topstep competitor, so read this Topstep review with that in mind. Every Topstep figure below comes from Topstep's own help centre, its website or its Trustpilot page, checked on November 10, 2026. Every ETF figure comes from ETF's live evaluations, payouts and LIVE ELITE pages.

Key takeaways

• Legit: Topstep Trader has operated since 2012, publishes its rules, and says it approves 99.26% of payout requests.
• Price: the 50K Trading Combine is $49 a month plus a $149 activation fee, or $95 a month with no activation fee. ETF's 50K evaluations run $207 to $497, plus an activation fee on most plans.
• Drawdown: Topstep uses an end of day trailing Maximum Loss Limit that is monitored intraday. ETF offers live trailing, end of day or static, depending on the plan.
• Split: Topstep pays 90/10. ETF pays up to 100% of simulated profits, then 80/20 on LIVE ELITE.
• Live capital: Topstep calls traders up at its discretion. ETF considers traders for LIVE ELITE after 1 Reward, 5 active trading days or $1,000 in Rewards.
• Hours: Topstep is day trading only, flat by 3:10 PM CT.

The table compares 50K plans, since 50K is where most traders start. Topstep figures are for the 50K Trading Combine and its Express Funded Account (XFA), the simulated funded account you trade after passing. ETF sells several 50K plans, so a row lists each one where they differ.

Last verified 2026-11-10. Sources are cited in the sections below.

Topstep's 50K No Activation Fee price drops by $10 when you add a daily loss limit at checkout, and ETF runs promotions on its evaluations, so check both live checkout pages before you compare final cost.

Topstep Trader has operated since 2012, and several of its strengths are areas where ETF is behind today.

• Low entry price with no deadline. The 50K Trading Combine is $49 a month on the Standard path, and there is no time limit for passing. (Source: Topstep help centre, "Topstep Pricing and Payment Questions", checked November 10, 2026.)
• A choice on the activation fee. The No Activation Fee path costs $95 a month and charges nothing when you pass, so traders who expect to pass quickly can skip the $149 fee. (Source: Topstep help centre, "Topstep Pricing and Payment Questions", checked November 10, 2026.)
• One rule in the Combine. Topstep describes the Trading Combine as one rule and two objectives. The rule is the Maximum Loss Limit; a daily loss limit is optional. (Source: Topstep help centre, "Trading Combine Parameters", checked November 10, 2026.)
• A fast pass is possible. You can pass in as few as 2 days, as long as no single day exceeds 55% of your total profit. (Source: Topstep help centre, "Consistency at Topstep", checked November 10, 2026.)
• Fast payouts and a published approval rate. Topstep says it approves 99.26% of payout requests, and auto-approved US payouts through Aeropay can arrive almost immediately. (Source: Topstep, "Instant Payouts" page, checked November 10, 2026.)
• Reset credits. Every monthly rebill adds 1 reset credit to your reset bank. (Source: Topstep help centre, "What is a Reset?", checked November 10, 2026.)
• A second chance on a lost funded account. Back2Funded allows up to 2 reactivations of an Express Funded Account lost before the first payout, for a fee ($599 on 50K). (Source: Topstep help centre, "Back2Funded Rules, Guidelines and How It Works", checked November 10, 2026.)
• Track record. Topstep Trader launched in 2012, and Topstep says it has paid more than $1.4 billion to traders. (Source: Topstep, "About Us" page, checked November 10, 2026.)

ETF's advantages are mostly about drawdown choice, ways to skip the evaluation, smaller account sizes and a defined route to live capital.

• Choice of drawdown. ETF sells live trailing (1-Step), end of day and static drawdown plans. A static drawdown stays fixed at your starting balance minus the max drawdown, which suits traders who dislike a trailing floor. Topstep's standard Combine uses one end of day trailing Maximum Loss Limit, monitored intraday.
• A defined route to live capital. ETF considers traders for LIVE ELITE after 1 Reward, 5 active trading days or $1,000 in Rewards. LIVE ELITE pays 80/20, uncapped above the onboarding balance, with daily withdrawals on trading days. Topstep has no fixed threshold and says traders average over $40,000 in lifetime payouts before a Live call-up.
• No evaluation required. ETF's Direct to Funded (DTF) plans start you in a simulated funded account at 10K, 50K or 100K, from $357. Every Topstep path described in its help centre starts with a Trading Combine or a Challenge.
• Smaller entry sizes. ETF sells 10K plans, with the 10K Fast Track EOD evaluation at $57. Topstep's standard Combine starts at 50K.
• 48-hour payout approval guarantee. ETF approves payout requests within 48 hours, excluding weekends, US holidays and outages, and pays $1,000 if it misses.
• Up to 100% of simulated profits. ETF pays up to 100% of simulated profits, capped at $25,000 per trader per sim round and $150,000 lifetime. Topstep pays 90/10 to traders who joined after January 12, 2026.

A fair Topstep review has to say where ETF is weaker. These are the gaps as of November 2026.

• Price. ETF's 50K evaluations cost $207 (1-Step), $347 (EOD) or $497 (Static), plus an activation fee of $87 a month or $177 one-time on 50K plans. Topstep's 50K Combine is $49 a month plus $149, or $95 a month with no activation fee.
• Time to pass and to the first payout. ETF needs at least 5 trading days to pass (3 on Fast Track) and 8 active trading days before the first payout. Topstep allows a pass in 2 days and a payout after 5 profitable days.
• Live split. On LIVE ELITE, traders keep 80%. Topstep pays 90%.
• Track record. ETF has paid more than $13M in simulated profit splits to more than 13,000 traders since February 2022. Topstep Trader has run since 2012 at a much larger scale.
• Payout speed after approval. ETF guarantees approval within 48 hours. Topstep's auto-approved US payouts through Aeropay can land almost immediately.

Topstep suits an intraday futures trader who wants a low monthly entry price, who is comfortable with one end of day trailing drawdown rule, and who wants a 90/10 split with fast payouts. It also fits traders who can pass quickly and want to skip the activation fee on the No Activation Fee path, and traders who put weight on a long operating history.

Topstep is a weaker fit if you hold positions past the afternoon, because every position must be closed by 3:10 PM CT, if you want a fixed, non-trailing drawdown on a standard plan, or if you want to know in advance what it takes to reach a live account.

ETF is built for futures traders who want to match the drawdown to their strategy, with live trailing, end of day and static plans from $10K to $150K. It suits traders who want a defined path to live capital through LIVE ELITE, and those who value a 48-hour payout approval guarantee. Traders who want to skip the evaluation can use Direct to Funded plans at 10K, 50K and 100K.

ETF is not built for traders whose priority is the lowest possible monthly price, who want a one-time fee with no activation cost, or who need accounts above $150K. If any of those matters most, Topstep or another firm may serve you better.

Trading Combine targets

The Trading Combine is a single evaluation step in 50K, 100K and 150K sizes. A 50K Combine has a $3,000 profit target and a $2,000 Maximum Loss Limit, and there is no time limit; the subscription rebills monthly until you pass or cancel. (Source: Topstep help centre, "Trading Combine Parameters", checked November 10, 2026.)

Maximum Loss Limit

Topstep's Maximum Loss Limit trails your highest end of day balance, but it is checked intraday against open profit and loss, so a trade can breach it mid-session. On a 50K Combine it starts at $48,000 and trails up until it locks at $50,000, the starting balance. (Source: Topstep help centre, "What is the Maximum Loss Limit?", checked November 10, 2026.)

At ETF, the 50K plans all carry a $2,000 max drawdown, but the type depends on the plan: live trailing on 1-Step, end of day on EOD and fixed on Static.

Consistency

To pass the Combine, your best single day must stay under 55% of your total profit, with no buffer. On a $3,000 target that means a best day under $1,650. (Source: Topstep help centre, "Consistency at Topstep", checked November 10, 2026.) ETF has no traditional consistency rule on most plans, and its Fast Track plans use 40%.

Daily loss limit

A daily loss limit is optional in the Combine and the Express Funded Account ($1,000 on 50K if you add it at checkout) and automatic in a Live Funded Account. (Source: Topstep help centre, "Daily Loss Limit in the Trading Combine and Express Funded Account", checked November 10, 2026.) ETF's 1-Step and Static plans have no daily loss limit, and its 50K EOD plan has a $1,100 limit.

How Express Funded Account payouts work

• The Express Funded Account starts at a $0 balance; the 50K label refers to buying power.
• Qualify with 5 profitable days of $150 or more, or 3 trading days on the optional Consistency path where your largest day is at most 40% of net profit.
• Request at least $125, and up to 50% of your balance with a cap of $2,000 per request on 50K Standard, or $3,000 on the Consistency path. The caps double if you added a daily loss limit when you bought the Combine, a limited-time offer.
• Keep 90% of each payout. Aeropay and Wise carry no Topstep fee; ACH and wire cost $30.

(Source: Topstep help centre, "Topstep Payout Policy", checked November 10, 2026.)

Here is how that works on a 50K Express Funded Account. Say your balance reaches $3,000 after 5 profitable days of $150 or more. The Maximum Loss Limit has locked at $0, because the balance passed $2,000. You can request 50% of the balance, which is $1,500, since it sits under the $2,000 cap. You keep 90%, so $1,350 reaches you through Aeropay, or $1,320 by ACH after the $30 fee. Your balance drops to $1,500 and the 5-day count restarts.

ETF's minimum request is $100 per sim cycle on most plans, and its 50K EOD plan caps each request at $2,000, the same as Topstep's 50K Standard path.

Going live at Topstep

Live call-ups are at the discretion of Topstep's Live Accounts team, and there is no fixed number of payouts that qualifies you. Topstep says traders average over $40,000 in lifetime payouts before a call-up. When you accept, all your Express Funded Accounts close. The new Live account gives you 20% of the transferred balance to trade, with at least $10,000, and holds 80% in reserve, released in four 25% steps each time you hit the Live profit target. Live payouts have no dollar cap. (Source: Topstep help centre, "Live Funded Account Call-Up and Call-Down Process", checked November 10, 2026.)

• Day trading only: all positions must be closed by 3:10 PM CT every weekday, and swing trading is not allowed. (Source: Topstep help centre, "When and What Products Can I Trade?", checked November 10, 2026.)
• News windows: around CPI, FOMC, NFP and PPI releases, no new positions in mini equity index and metals contracts for 5 minutes before and after the release. (Source: Topstep help centre, "Risk Adjustments: High Risk, High Volatility", checked November 10, 2026.)
• Prohibited conduct: hedging across your own accounts, coordinated trading with others and using a VPN are prohibited. (Source: Topstep help centre, "Prohibited Conduct", checked November 10, 2026.)
• Platforms: Topstep's help centre documents TopstepX, its own platform with TradingView charts, plus Quantower through TopstepX and the TopstepX API. (Source: Topstep help centre, "TopstepX", checked November 10, 2026.)
• Reviews: Topstep holds 3.7 on Trustpilot from 15,064 reviews. ETF holds 3.9.

Is Topstep legit?

Yes. Topstep is a legitimate futures prop firm. Topstep Trader launched in Chicago in 2012, the firm publishes its Trading Combine, drawdown and payout rules in a public help centre, and it holds a 3.7 Trustpilot score from 15,064 reviews. Combine and Express Funded Accounts are simulated, and a move to a Live Funded Account is decided by Topstep's Live Accounts team.

How much does the Topstep Trading Combine cost?

The 50K Trading Combine costs $49 a month on the Standard path, plus a $149 activation fee when you pass. The No Activation Fee path costs $95 a month with no fee when you pass. The subscription rebills monthly until you pass or cancel, and there is no time limit.

Does Topstep actually pay out?

Topstep says it approves 99.26% of payout requests. On a 50K Express Funded Account you qualify after 5 profitable days of $150 or more, can request up to 50% of your balance with a $2,000 cap per request on the Standard path, and keep 90% of each payout.

What is the Topstep profit split?

Topstep pays a 90/10 split on Express Funded Account payouts. The older split of 100% of the first $10,000 now applies only to traders who joined Topstep's new dashboard before January 12, 2026.

What drawdown does Topstep use?

Topstep uses a Maximum Loss Limit that trails your end of day balance but is monitored intraday on open profit and loss. On a 50K Trading Combine the limit is $2,000, so the account starts with a floor of $48,000 that trails up and locks at the $50,000 starting balance.

How do you get a Topstep Live Funded Account?

There is no fixed payout count. Topstep's Live Accounts team calls traders up at its discretion, and Topstep says traders average over $40,000 in lifetime payouts before a call-up. A new Live account starts with 20% of the transferred balance available to trade, with at least $10,000, and the other 80% held in reserve.

Can you hold trades overnight at Topstep?

No. Topstep is a day trading program, and all positions must be closed by 3:10 PM CT every weekday. Around CPI, FOMC, NFP and PPI releases, new positions in mini equity index and metals contracts are blocked for 5 minutes before and after the release.

How does Topstep compare with Elite Trader Funding?

Topstep offers a lower monthly Combine price, a pass in as few as 2 days, a 90/10 split and fast payouts. Elite Trader Funding offers a choice of live trailing, end of day or static drawdown, accounts from $10K, Direct to Funded plans with no evaluation, a 48-hour payout approval guarantee and LIVE ELITE consideration from 1 Reward, 5 active trading days or $1,000 in Rewards.

So, is Topstep legit? Yes. It is a long-running firm with a low entry price and fast payouts, and for many intraday traders it is the right pick. If drawdown choice, a Direct to Funded option, a 48-hour payout approval guarantee and a defined route to LIVE ELITE matter more to you, ETF is worth a look.

Before you buy at either firm, read the current rules for the exact plan you want, since both firms sell several plans with different drawdown, daily loss limit and payout terms. The cheapest plan on paper can cost more once monthly rebills, resets, activation and the time to your first payout are counted. If you trade around news or late in the session, check those rules first, because they differ more between firms than profit targets do.

Related articles

• Best Topstep alternatives in 2026: prices and rules compared
• What is EOD drawdown? End of day vs intraday trailing

Spot something out of date in this Topstep review? Tell us and we will check it and correct the page. That goes for the Topstep team too.

Pricing, promotions, and product details referenced in this article reflect information available at the time of publication and may have changed. Visit elitetraderfunding.app/evaluations for current pricing.