Hey there, fellow trader! If you’ve been poking around the world of futures prop firms, you’ve probably come across two big names: Topstep vs Apex Trader Funding.
Both have made quite a splash in the trading community, offering futures traders a chance to get funded and trade with real capital without risking their own money upfront. But here’s the thing: while they’re both popular choices, they each bring their own flavor to the table.
Topstep has been around for over a decade, known for its structured approach that helps traders build solid skills and discipline through their Trading Combine.
On the flip side, Apex Trader Funding is the newer kid on the block, shaking things up with a simpler, more flexible evaluation and fewer trading restrictions. So, if you’re wondering which one suits your trading style best, you’re in the right place.
In this article, we’ll break down the key differences between Topstep vs Apex Trader Funding -covering everything from how they fund traders, their rules and evaluation processes, the platforms they offer, and of course, how payouts work.
By the end, you’ll have a clearer picture of which prop firm might be the best fit for your futures trading journey. Let’s get in and see what makes each one tick!
Topstep Vs Apex Trader Funding
| Parameter | Topstep | Apex Trader Funding |
|---|---|---|
| Year Founded | 2012 | 2021 |
| Headquarters | Chicago, Illinois | Austin, Texas |
| Trustpilot Rating | 4.6/5 (5,500+ reviews) | 4.5–4.8/5 (13,000+ reviews) |
| Account Sizes | $50K, $100K, $150K | $25K–$300K |
| Monthly Fee | $49 (50K), $99 (100K), $149 (150K) | $147+ (varies by plan) |
| Profit Split | 100% of first $10,000, then 90/10 | 100% of first $25,000, then 90/10 (some plans 75/25) |
| Evaluation Process | 1-step Trading Combine; pass objectives for funding | 1-step evaluation; qualify in as little as 7 trading days |
| Minimum Trading Days | No strict minimum, but must show consistency | 7 trading days in evaluation |
| Drawdown Rules | Daily & overall loss limits (e.g., $1,000/day for $50K) | Trailing drawdown, no daily drawdown |
| Consistency Rules | Yes: Best day <50% of total profits, etc. | Yes: No single day >30% of total profits, contract size consistency |
| Tradable Markets | 32+ futures markets (indices, commodities, metals, etc.) | 46+ futures markets (indices, currencies, commodities, metals, crypto) |
| Platform Support | TopstepX, NinjaTrader, Tradovate, TradingView, Quantower, T4 | NinjaTrader, Rithmic, Tradovate, TradingView, RTrader Pro, WealthCharts1 |
| Payout Policy | Request after 5 winning days of $200+; up to 4 payouts/month | Max $2K every 2 weeks for 2.5 months, then unlimited |
| Withdrawal Split | 100% first $10K, then 90/10 | 100% first $25K, then 90/10 (some plans 75/25) |
| Reset Fee | $49 (50K), $99 (100K), $149 (150K) | $80–$100 (varies by plan) |
| Education/Community | Extensive: Coaching, Discord, YouTube, resources | Webinars, support, active community |
| Other Notable Points | No Forex, only futures; strict risk rules; up to 5 Express Funded Accounts | Allows news/holiday trading, copy trading up to 20 accounts, flexible rules |
Getting to Know Topstep
Alright, let's talk about Topstep. Founded back in 2012 by Michael Patak, a former floor trader at the Chicago Board of Trade, Topstep has become a familiar name for futures traders looking for a shot at trading-funded accounts. Based in Chicago, this firm set out with a clear goal: to help traders improve their game and give them a chance to trade using the firm's money.
So, what's Topstep all about? Their main program is the Trading Combine®. Think of it as both a test and a training ground. It's designed to help traders sharpen their skills, build better trading habits, and manage risk effectively while trading in simulated markets. The idea isn't just to see if you can make a profit, but if you can do it consistently and responsibly.
Pass the Trading Combine – which some manage in just a couple of days – and you get access to a funded trading account. This means you get to trade real futures markets with Topstep's capital. They've been doing this for over 12 years and have helped thousands of traders reach the funded stage. They also put a big emphasis on education and support, offering coaching, resources, and a community to help traders along the way.
For many traders, Topstep represents a structured path to potentially becoming a funded futures trader, focusing heavily on skill development before letting you trade their cash. Stick around as we see how it stacks up against Apex Trader Funding.
Meet Apex Trader Funding
Now, let's shift gears and look at Apex Trader Funding. This firm, led by CEO Darrell Martin, burst onto the futures prop trading scene and quickly gained popularity, especially among retail traders. Apex positions itself as a more accessible route to getting funded, aiming to remove some of the hurdles traders might face with other firms.
What does Apex bring to the table? They offer futures traders the chance to qualify for a funded account through a straightforward evaluation process. One of the big draws is their often-touted simpler rule set.
Many traders appreciate that Apex doesn't have rules like daily loss limits (only a trailing threshold drawdown) or scaling plans during the evaluation. This flexibility can feel less restrictive, particularly for traders who have specific strategies that might clash with stricter rule sets.
Apex is known for its relatively quick path to funding – pass their one-step evaluation, and you could be trading a funded account fairly rapidly. They offer a range of account sizes and often run promotions on their evaluation fees, making it an attractive option for traders looking for a faster, potentially less complex way to get started with prop firm capital.
Their approach has resonated with many traders seeking fewer hoops to jump through. Let's see how this approach compares directly with Topstep's structured path.
What Traders are Choosing Topstep?
Brokers Supported:
When you trade with Topstep, your connection goes through established brokers like Tradovate, NinjaTrader Brokerage, Dorman Trading, Plus500, and CQC. This gives you a solid backend for your trading activity.
Trading Platforms:
Topstep offers a wide variety of platforms to choose from, which is great because you can pick one that fits your style. Some popular choices include:
Payment Methods (Getting Started):
To pay for things like the Trading Combine subscription or resets, Topstep accepts common methods:
Payout Methods (Getting Paid)
When it's time to collect your profits (minimum $125 request), Topstep offers a few ways to get your money:
ACH (Automated Clearing House) transfers are commonly used by US traders and typically take between one to three business days to process, though delays can occasionally extend this period.
Bank wire transfers, including those using the SWIFT system for international transactions, generally require about three to five business days to complete due to intermediary banks and currency conversion processes.
For international traders, Wise (formerly TransferWise) is often a preferred option, offering transparent fees and faster processing compared to traditional banks.
Why Would I Choose Apex Trader Funding?
Brokers Supported:
Apex keeps things a bit more focused on the broker side. Your trades are primarily routed through:
These are well-known data and execution providers in the futures space.
Trading Platforms:
Apex also supports a good selection of popular platforms, ensuring you can likely use the software you're comfortable with:
Payment Methods (Getting Started):
For paying evaluation fees, Apex mainly uses:
Payout Methods (Getting Paid)
When you cash out your trading profits from Apex, the common methods are:
Topstep Contract Limits
Topstep keeps its contract limits straightforward and directly tied to the account size. Think of it like this: for every $50,000 in account size, you generally get 5 contracts.
Important Note
On most platforms Topstep supports, a micro contract (like MES) counts the same as a standard E-mini contract (like ES) towards your maximum position size. So, 5 contracts means 5 total, regardless of whether they are minis or micros. However, this calculation differs if you're using their specific TopstepX platform, where micros and minis are weighted differently.
Apex Trader Funding Contract Limits
Apex offers a wider range of account sizes, and their contract limits scale up accordingly, especially for their standard evaluation accounts. They also explicitly mention limits for both standard (mini) contracts and micro contracts.
For their Standard (Trailing Drawdown) Evaluation Accounts
| Account Size | Max Mini Contracts | Max Micro Contracts |
|---|---|---|
| $25,000 | 4 | 40 |
| $50,000 | 10 | 100 |
| $75,000 | 12 | 120 |
| $100,000 | 14 | 140 |
| $150,000 | 17 | 170 |
| $250,000 | 27 | 270 |
| $300,000 | 35 | 350 |
For their Static Drawdown Evaluation Account:
Heads up on Funded Accounts (Apex): Once you pass the evaluation and get funded with Apex, there's an initial rule where you can only trade half the maximum allowed contracts until your account balance grows enough to cover the trailing drawdown plus a small buffer. After hitting that point, you can use the full contract size allowed for your account.
So, Apex generally offers higher contract limits relative to account size compared to Topstep, especially on larger accounts, but Topstep has a simpler structure.
Comparing Consistency Rules | Topstep vs Apex Trader Funding
Here’s a quick look at how their rules stack up
| Feature | Topstep | Apex Trader Funding |
|---|---|---|
| Rule | The best day's profit cannot exceed 50% of the total profit target. | No single day's profit can exceed 30% of the total profit balance. |
| When it Applies | Only during the Trading Combine® (evaluation phase). | When requesting a payout from a funded Performance Account (PA). |
| Impact | It's an objective in the evaluation. If violated, you might need to earn more profit overall to pass, but the rule doesn't apply to funded accounts. | Directly affects withdrawals. If one day contributed more than 30% of the profit you want to withdraw, you'll need to generate more profit to meet the ratio before that payout is approved. |
Topstep's Approach
Topstep uses its “Consistency Target” only while you're in the Trading Combine. Think of it as a check during your test phase. They want to see that you didn't just hit your profit goal because of one monster day. Your biggest winning day shouldn't make up more than half of your total required profit.
If it does, you basically need to keep trading and accumulate more profit until that best day represents 50% or less of the new, higher total profit needed to pass. The key thing here? Once you pass the Combine and get into an Express Funded Account, this 50% consistency rule vanishes. You don't have to worry about it when making withdrawals.
Apex's Approach
Apex handles consistency differently. They don't seem to enforce a strict consistency rule during their evaluation. Instead, their 30% rule comes into play when you request a payout from your funded Performance Account.
When you ask for a withdrawal, they check if any single trading day accounts for more than 30% of the profit balance you've built up (since your last payout or since you started trading the PA). If, say, you made $5,000 profit and $2,000 of that came from one day (that's 40%), you wouldn't be able to withdraw the full $5,000 just yet.
You'd need to keep trading and increase your total profit balance until that $2,000 day represents 30% or less of the total. This rule stays with you in the funded stage and directly impacts how and when you can access your earnings.
Decoding the Rulebooks | Topstep vs Apex Trader Funding
Think of these rules as the guardrails for your trading journey with each firm.
Topstep's Way of Doing Things
Apex's Approach to Rules
So, you see quite a few differences here. Topstep is generally more permissive regarding automation and news trading strategies.
Apex, while allowing news trading, has specific directional rules and puts more emphasis on manual control and consistent position sizing, along with rules tied directly to managing risk and scaling into funded accounts.
Cashing Out Topstep vs Apex Trader Funding
Topstep's Payout Flow
Topstep offers an attractive payout structure for traders: you keep 100% of your first $10,000 in profits withdrawn across all your funded accounts, making it a great way to start earning. Once you’ve reached that $10,000 mark, the profit split shifts to 90/10-meaning you retain 90% of future payouts, while Topstep takes 10%.
To become eligible for a withdrawal, you must log five “winning trading days”-days where your net profit is at least $200-since your last payout or since starting the funded account. These qualifying days don’t need to be consecutive
How Much Can You Take?
In the initial Express Funded Account, you can request up to $5,000 or 50% of your account balance per payout, whichever amount is smaller.
Once you move up to a Live Funded Account, that $5,000 cap disappears, and you can request up to 50% of your account balance after meeting the 5 winning days requirement.
Apex's Payout Approach
So, Topstep has a lower initial 100% threshold ($10k vs $25k) but applies it per trader, while Apex's is higher but per account. Topstep's payout frequency is tied to “winning days,” while Apex uses a set number of trading days with a profit condition.
Apex has initial payout caps and a safety net rule for early withdrawals, which Topstep doesn't, but Topstep locks your max loss limit at $0 after the first payout. Lots to weigh up depending on your trading style and goals!
Topstep vs Apex Trader Funding | FAQs
Which Firm has a Faster Evaluation: Topstep vs Apex Trader Funding?
Apex usually offers a quicker path with its single-step evaluation compared to Topstep's two-step Trading Combine, which requires passing both stages.
Who Offers a better initial Profit Split?
Apex lets you keep 100% of the first $25,000 profit per account. Topstep offers 100% on the first $10,000 profit per trader before moving to 90/10.
Are Topstep's Trading rules stricter than Apex's?
Generally, yes. Topstep has a more structured evaluation with stricter rules, while Apex provides more flexibility, like no daily loss limit during its evaluation.
Is Apex Trader Funding Cheaper than Topstep?
Apex often comes out cheaper due to lower base fees, frequent discounts, lower reset costs, and typically no separate data fees, unlike Topstep.
How quickly can I Withdraw Profits from Topstep vs Apex Trader Funding?
Topstep allows payout requests after 5 winning days ($200+). Apex requires 8 trading days (with 5 days >$50 profit) before you can request a payout.
Which Prop Firm is better for new Traders?
Topstep's structured approach and educational resources often appeal to beginners. Experienced traders might prefer Apex for its flexibility, lower costs, and simpler rules.
Wrapping Up | Topstep vs Apex Trader Funding for You?
So, which futures prop firm gets your vote: Topstep vs Apex Trader Funding?
As we've seen in this comparison, both Topstep vs Apex Trader Funding programs offer solid paths to trading futures with firm capital. When you compare these prop firms, the best choice really boils down to your personal trading style and what you value most.
If you appreciate a structured method with an emphasis on skill building through a two-step evaluation, Topstep might be your match.
But if you prefer a quicker, one-step evaluation process, more relaxed trading rules (like no daily drawdown limits during the eval), and a larger initial 100% profit split ($25k vs $10k), then Apex Trader Funding certainly presents a strong case.
Think carefully about their different funding models, rules, and payout structures before deciding which route fits your journey best.
