Topstep is a US-based futures prop firm established in January 2012. Its program begins with the Trading Combine, a one-step evaluation that leads to an Express Funded Account when the stated requirements are met. Available account sizes are $50,000, $100,000 and $150,000, with pricing shown for both No Activation Fee and Standard plans. Topstep focuses exclusively on futures, including CME equity futures such as the E-mini S&P 500, E-mini NASDAQ 100, E-mini Russell 2000 and Micro Bitcoin, as well as futures linked to the Australian Dollar, British Pound, Euro FX and Japanese Yen.
Evaluation process
The evaluation requires at least two trading days and includes a consistency standard: profit from any single day cannot exceed 50% of total profit during the Combine. After evaluation, traders may use either the Express Funded Standard Path or the Express Funded Consistency Path. The Standard Path requires five winning days of at least $150, while the Consistency Path requires three days with a 40% consistency target.
Rules and risk controls
Topstep allows news trading without restrictions during both Evaluation and Funded stages. Automated strategies and EAs are allowed, although traders remain responsible for their setup and performance; TopstepX supports automation through API access. Copy trading is limited to accounts within the same trading environment, and Live Funded Accounts cannot use the Trade Copier. The firm also prohibits account stacking, intentional account depletion, manipulative tools, abnormal market behavior and attempts to exploit simulated fills. VPNs, proxy services, TOR and other identity-masking services are not permitted.
Maximum contract capacity scales with the account: the $50,000 plan permits up to five Minis or 50 Micros, the $100,000 plan up to 10 Minis or 100 Micros, and the $150,000 plan up to 15 Minis or 150 Micros. The Scaling Plan is an objective in the Express Funded Account and is evaluated daily.
Payouts and platforms
Topstep states a 90% profit split. Express Funded payouts require profit greater than $0 since the previous payout, and the minimum payout amount is $125. Standard and Consistency paths have different winning-day requirements and payout caps, with higher caps available when a Daily Loss Limit is added. Payout methods include ACH, Aeropay, bank wire transfer and Wise. Trading is available through Quantower and TopstepX, with TopstepX using its own data feed.
Who it suits
Topstep may suit futures traders who prefer a single-step evaluation, established trading-day requirements and access to dedicated futures platforms. It is less suitable for traders seeking forex or crypto markets, unrestricted account copying or a program whose fixed profit targets and loss limits are fully displayed in the available overview.