TopStep 2025 Review

1. What is TopStep?
2. TopStep Pros Cons
3. Is TopStep Legit?
4. TopStep Challenge
5. Funded Account
6. Account Conditions
7. Payout
8. TopStep Alternative

Our Review Method

• 55Brokers Financial Experts with over 15 years of experience in Trading check and verify carefully Proprietary Trading Firm offerings and what the challenge you have to pass to become a Funded Trader to give an expert opinion on TopStep and its reliability

What is TopStep?

TopStep is a well-known Prop Trading Firm, especially known for offering Futures Trading, established in 2012 in the USA that provides traders with a simulated environment enabling them to trade without risking their own money. Those traders that successfully pass its compressive evaluation program are provided with a “Funded Account“. This account, backed by TopStep’s capital, allows traders to enter the real markets.

• Importantly, while traders can enjoy the profits, TopStep absorbs the losses, mitigating the financial risk to the individual trader.

TopStep’s platform is highly regarded for its user-friendly interface and robust technology. The platform ensures a seamless trading experience with real-time data, which is critical for making informed trading decisions. As a proprietary trading firm, TopStep provides a unique opportunity to gain access to Real Trading with no funds required. However, it’s important to remember that proprietary trading inherently involves significant risks and demands thorough preparation and thoughtful consideration. Click here to read more about Prop Trading.

Is TopStep Legit?

TopStep, situated in the USA, a country renowned for its rigorous financial regulation, has established itself as a provider of an outstanding trading experience, complemented by superior support and educational resources, thereby attracting a substantial customer base. Moreover, the company’s enduring presence in the industry stands as a testament to its legitimacy and a significant marker of trustworthiness.

• Keep in mind that Proprietary Trading Firms operate differently from Forex Brokers and are not subject to licensing and regulation by financial authorities. This implies a different level of safety, as it’s the prop firm that supplies the funds for trading. This distinction is a crucial factor to consider before getting involved with Proprietary Trading Firms.

Is TopStep Scam?

After a thorough review of TopStep’s official website, no indications were suggesting it is a scam. Additionally, the company’s sustained operation and enduring popularity over a significant period suggest it is likely legitimate. However, it’s important to note that Proprietary Trading Firms are subject to minimal regulation, making it challenging to definitively ascertain their legitimacy.

We recommend that you thoroughly educate yourself on prop trading, including understanding the associated risks, and opt for a well-reputed company that has been operational for many years with a stable offering. Since your investment in this scenario involves paying for a subscription, rather than directly trading with your funds, the potential financial losses are generally lower compared to real trading with personal capital.

TopStep Trading Evaluation Rules

• The TopStep Challenge or Test aims to showcase your trading skills, consisting of two phases. Phase 1 has stricter rules and Phase 2 offers more relaxed conditions, both with profit targets based on your chosen Account Size. This structure tests the long-term sustainability of your trading approach.

Account Balance and Registration Fee

• TopStep offers a single evaluation program, known as Combine, which is available in three distinct account sizes.
• TopStep provides a limited range of balance options which includes $50,000, $100,000, or $150,000.

Profit Target

The profit targets for TopStep’s Trading Combine, expressed as percentages of the starting balances, are consistent across different account sizes. For each account size, the profit target is 6% of the starting balance.

Maximum Loss

The Daily Loss Limits for TopStep’s Trading Combine, expressed as percentages of the starting balances, are consistent across the different account sizes. For each account size, the Daily Loss Limit is 2% of the starting balance.

• To clarify well All set rules have to be in line at the stage of challenge, otherwise, your test will be canceled and you will either have to reset it, meaning pay another reset fee to participate in to challenge from the beginning.

Minimum Trading Period

In TopStep’s proprietary trading evaluations, a key rule is to be profitable for at least 2 trading days across all account sizes, ensuring consistency in trading success over a set period.

See detailed table with TopStep Combine conditions based on Account Size:

 

Free Trial

TopStep does not provide a free trial for their programs. Typically, proprietary trading firms adhere to the industry practice of requiring a registration or evaluation fee, and Funded Trading Plus is no exception in this regard.

TopStep Funded Account

Once the test or the challenge is successfully passed trader will get his Funed Account set, which may typically take few business days to activate. It is important to note, that the account conditions and balance will be exactly as the one you qualify for in your test, in case you would like to change Account to higher grade there will be a need to pass test from the very beginning for the Account Balance you prefer to trade with.

Profit Split

Topstep offers a specific profit split policy for its traders. Initially, traders receive 100% of the profits from their payouts, up to $10,000. Once a trader’s cumulative payouts exceed this amount, the profit split changes to 90/10, with the trader receiving 90% of the payouts and Topstep retaining 10%.

 

Payout and Withdrawals

Our findings indicate that TopStep provides a variety of convenient payment options for its challenges, all of which are free from additional processing charges. In terms of payouts, TopStep typically processes them within a timeframe of approximately 3 to 7 days.

Withdrawal Method

TopStep offers a somewhat limited range of withdrawal methods, primarily consisting of ACH Wire for those with US-based bank accounts and Standard Bank Wire (using the SWIFT system) for international traders with accounts outside of the US

 

Account Conditions

For Account Conditions themselves, we check carefully whether Broker has various account preferences, also what Platforms, Instruments and Trading Costs are applicable. It is also important to check Leverage levels and Trading conditions offered, since some Brokers may restrict some startegies and do now allow specific practices in Funded accounts, which may result in loss of Account therefore to regain it you will need to pass the test again. See detailed breakdown below:

Trading Instruments

Currently, Topstep specializes exclusively in offering futures contracts and does not provide other trading instruments like stocks, options, or Forex. Their structured evaluation process, risk management rules, and business model are all designed around the futures market, making it their sole area of operation

TopStep Commission

Topstep charges commission fees in its Live Funded Account that range from $0.72 to $2.04, with additional exchange fees for various products like E-mini S&P 500 (ES) at $2.66 and Crude Oil (CL) at $3.00. These costs are designed to replicate the expenses of professional trading and are subtracted from the trader’s account balance

Leverage

Topstep’s leverage details are not explicitly provided in the resources available. However, it is known that Topstep operates within the futures market, where leverage is a standard feature. In general, futures trading often involves a margin requirement of around 20%, implying a leverage of about 5:1. This means that traders can control a larger position in the market with a relatively smaller amount of capital.

TopStep App Platform

Topstep offers NinjaTrader and Quantower among its supported trading platforms. These platforms are part of a range of options provided by Topstep to suit the various needs and preferences of traders participating in their programs, such as the Trading Combine

Trading Conditions

Topstep’s trading environment, particularly in its Trading Combine program, sets specific rules and conditions to ensure disciplined and realistic trading practices. Here are some key aspects:

• TopStep prohibits certain activities that are deemed to be non-viable trading strategies or attempts to game the market. includes trading on behalf of others or engaging in uncommercial activities. Violations are handled on a case-by-case basis, with possible outcomes ranging from warnings to account closure

TopStep Promotions

As we noticed, the company periodically offers promotions that feature available TopStep promo codes for discounts. However, these promotions typically come with temporary conditions, so it is advisable to confirm them when you log in. Presently, there is a discount on account fees.

TopStep Alternative Brokers

Taking into account all the information gathered about TopStep, we have determined that the firm presents itself as a highly appealing opportunity for Funded Traders. The company specializes in futures trading, distinguishing itself from its industry competitors, and offers profit-sharing opportunities of up to 90%. It’s important to note, though, that the firm does not provide access to other instrument types and does not support MetaTrader platforms.

When choosing a prop trading firm, it’s useful to compare different firms to find the best match for your needs. Some firms, like TopStep, may offer unique advantages, but others might be more suitable based on their range of instruments or platform choices. A side-by-side comparison of TopStep with other firms can help in making an informed decision, highlighting key differences and similarities.

• TopTier Trader – Great Prop Trading Firm for Forex
• Fidelcrest  – Good MT4 Prop Trading Firm
• The Funded Trader – Best for Higher Account Size