IC Markets
Topstep Review: The Futures Benchmark
Topstep is the best-known futures prop firm and one of the few that publishes its outcomes. Here are its rules, payouts and costs, from its own pages.
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Topstep runs a futures-only prop program: you trade exchange-listed futures in a simulated evaluation called the Trading Combine, then in a simulated Express Funded Account, and a few traders move on to a Live Funded Account with Topstep’s own capital. Its simulated program is operated by TopstepTrader, LLC. Topstep says more than $1.5 billion has been paid out to its traders.
The path
- Trading Combine. A monthly subscription. Reach the profit target without hitting the maximum loss limit, within a 55 per cent consistency target. No minimum days; Topstep says you can pass in as few as two.
- Express Funded Account (XFA). No monthly subscription. Activation costs $149 on the Standard route or $0 on the No Activation Fee route, which has a higher monthly Combine price.
- Live Funded Account. Assigned by Topstep’s risk team after consistent XFA performance; trades live markets with up to $150,000 of Topstep’s capital.
Trading Combine rules
| $50K | $100K | $150K | |
|---|---|---|---|
| Profit target | $3,000 | $6,000 | $9,000 |
| Maximum loss limit | $2,000 | $3,000 | $4,500 |
| Daily loss limit | $1,000 | $2,000 | $3,000 |
| Maximum position | 5 contracts (50 micros) | 10 contracts (100 micros) | 15 contracts (150 micros) |
| Consistency target | Best day under 55% of the profit target | Same | Same |
The maximum loss limit trails your end-of-day balance: it rises as your closing balance rises, never moves down, and locks once it reaches the starting balance. Open losses count, and touching it during the day liquidates the account. Our guide to trailing drawdown explains why that matters.
Payouts
| Topstep’s payout policy | |
|---|---|
| Split | 90/10: you keep 90% |
| Minimum | $125 |
| XFA Standard eligibility | 5 winning days of $150+ net, and net profit since the last payout |
| XFA Consistency eligibility | 3 trading days, largest day no more than 40% of net profit |
| XFA cap per request | 50% of the balance, up to $2,000 / $3,000 / $5,000 on Standard ($50K/$100K/$150K) |
| Live Funded | No cap; daily payouts after 30 winning days of $150+ |
| Fees | ACH and wire $30; no Topstep fee on Prop-to-Brokerage, Aeropay or Wise |
Results it publishes
For 2025, Topstep reports that 16.8 per cent of Trading Combines were passed, 51.8 per cent of participants reached the funded level in at least one Combine, 33.3 per cent of funded participants received a payout, and 0.71 per cent of XFA traders were called up to a Live Funded Account. Few firms publish anything comparable, which is to Topstep’s credit.
Our view
- Strengths: a long record, published outcomes, clear written rules, a 90 per cent split, and a real-capital stage.
- Weaknesses: a monthly subscription that keeps charging while you try, an end-of-day trailing maximum loss, per-request payout caps on the XFA, and a Live stage very few reach.
- Suits: intraday futures traders who size in micros and bank profit steadily.
Prices and parameters change, and Topstep runs promotions. On 14 October 2026 its pricing page showed conflicting monthly prices, so check the current price and rules on the account page before buying.
Topstep’s own numbers tell you the job: about one Combine in six is passed, and a third of funded traders get paid. Plan for the second filter, not the first.
Frequently asked
Is Topstep legit?
Topstep is a long-established futures prop firm that publishes its rules and its annual outcomes and says more than $1.5 billion has been paid out to its traders. Its Combine and Express Funded Accounts are simulated, and payouts follow its policy.
What are Topstep's Trading Combine rules?
On the $50K Combine: a $3,000 profit target, a $2,000 maximum loss limit that trails the end-of-day balance, a $1,000 daily loss limit, up to 5 contracts, and a best day under 55 per cent of the target. The $100K and $150K scale up.
What profit split does Topstep pay?
90/10: you keep 90 per cent. The minimum payout is $125, Express Funded payouts are capped per request, and Live Funded payouts are not.
How many traders pass Topstep?
Topstep reports that in 2025, 16.8 per cent of Trading Combines were passed and 51.8 per cent of participants reached the funded level in at least one; 33.3 per cent of funded participants received a payout.
Related reading
The team behind this guide
Researched, checked and approved by five forex specialists
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