TopStep Review 2026
TopStep invented the retail futures prop trading model in 2012. Founded by Michael Patak in Chicago, the firm has operated continuously for 14 years through multiple market cycles — the 2018 volatility spike, the 2020 COVID crash, and the 2022 interest rate shock — making it the most battle-tested futures prop firm in existence. Over $300 million has been paid to traders. TopStep is NFA registered through TopStep Brokerage LLC, holds a CME Group partnership, and offers the only genuine path to real CME capital (not simulated) for retail traders who prove consistency in its evaluation program.
The Trading Combine
TopStep uses a one-step evaluation called the Trading Combine with an EOD trailing Maximum Loss Limit. The MLL trails to the highest end-of-day closing balance — intraday equity swings never count against the floor. A minimum of ten profitable trading days is required to pass, building genuine discipline into the evaluation process. The 16.8% pass rate is published openly — one of the few firms that discloses this data. Account sizes are $50,000, $100,000, and $150,000.
Profit Split and Payouts
The profit split is 50/50 on the first $5,000 in cumulative funded profits, then 90/10 in the trader’s favour thereafter. This structure means traders who pull $5,000 early pay a higher effective cut than competitors offering 90% from dollar one. However, once past $5,000, the 90/10 split is competitive. Payouts are weekly. TopstepX Live Performance Bonuses reward consistently profitable Live Funded traders with cash payments up to $250,000 for hitting monthly milestones.
TopstepX Platform
Since July 2025, TopStep requires all traders to use its proprietary TopstepX platform — a limitation that restricts access to NinjaTrader, Rithmic direct, and other preferred platforms. TopstepX integrates TradingView charting within its interface. For traders already embedded in the TopstepX ecosystem or willing to adapt, the platform offers real-time risk monitoring, daily loss limits customisable by the trader, and specialised coaching tools unavailable elsewhere.
Rules and Restrictions
News trading during FOMC, NFP, and CPI announcements is restricted. All positions must be closed by 3:10 PM CT. A consistency rule applies — no single day can exceed 50% of total profits. Only one live funded account is permitted simultaneously. Overnight holding is not permitted. These restrictions are stricter than most 2025-2026 entrants but reflect TopStep’s original disciplined model.
