Research, not advice. This is what I found in public sources about prop trading firms. It is not financial advice or a recommendation to buy any challenge. A challenge is a paid evaluation: most people who try one do not get funded, and the fee is usually not returned. Rules, prices and ratings change often, so confirm everything on the firm’s official site. Some links here are affiliate links, explained in the affiliate disclosure. See the full disclaimer.
Is Topstep worth it? My quick verdict
Topstep leads my Top 10 futures prop firms, but not comfortably. It started in 2012, years before most of the firms around it, and it is the name most futures traders recognise. What stops it running away with the ranking is public sentiment: the star rating depends on which roundup you read, complaints about account holds were visible in recent reviews, and payout caps were reported cut in 2026. A long history does not remove the need to read the rules.
What is Topstep?
Topstep is a Chicago-based firm focused on CME futures such as the E-mini S&P, Nasdaq, crude oil and gold. The path is: pay for a Trading Combine, pass it, trade an Express Funded Account (a simulated account with a 90/10 profit split), and a very small share reach the live funded stage. One 2026 review reported that about 16.8% of Trading Combines were passed in the 2025 cohort and 0.71% of Express traders reached live. That is one secondary source, but it is a useful reminder of the odds.
How reputable is Topstep?
- Time in business: since 2012, confirmed by an Inc. company profile.
- Payout evidence: a reported total of over $1 billion paid to traders since 2012, from the company side.
- Public rating: the confusing part. Roundups quote everything from about 3.4 to 4.6 on Trustpilot. I could not load the live page, so I scored this conservatively.
What do traders praise and complain about?
Praised: brand trust, an established funnel, transparent published payout policy and a large community.
Complained about:
- The intraday trailing maximum loss limit, called the rule that catches most traders.
- A recent Trustpilot reviewer described an account being placed on hold with no stated reason. That is one report, not a pattern I can verify.
- Payout caps. Reported Express caps are in the low thousands per request on a 50K account, and several secondary sites say they were cut around 28 April 2026. A competing firm also published its own criticisms of Topstep; I discount those because of the conflict of interest.
Reddit was not reachable from my tools. Read recent futures-trading threads about payouts before you decide.
Which Topstep rules should you read before buying?
- How the trailing drawdown locks and moves.
- The payout caps per request and per cycle, and whether older accounts keep older terms.
- The $125 minimum payout and the CME-hours restriction on requests.
- Any fees at each stage.
How much does Topstep cost and how do payouts work?
Pricing depends on the Combine size and changes, so I do not quote it. The reported split is 90/10 with capped payouts on the Express account. The practical question is not “what is the split?” but “how much can I withdraw per cycle compared with how much I must earn?” That is exactly where Tradeify and Lucid Trading differ, so compare them.
Topstep pros and cons
Pros
- Longest futures history and strong brand recognition.
- Published payout policy.
- Large community and learning content.
Cons
- Conflicting public ratings and some recent complaints.
- Intraday trailing drawdown is unforgiving.
- Payout caps and reported 2026 cuts.
Who is Topstep best for, and who should skip it?
Best for disciplined futures traders who value longevity and are comfortable with a trailing drawdown.
Think twice if you want high, uncapped early payouts, a very low price, or you trade forex, in which case see FTMO.
How I scored Topstep
- Track record and stability 25%5
- Public rating and review volume 25%3.5
- Payout evidence 20%4.5
- Rule stability and transparency 15%3.5
- Conditions and value 10%3.5
- Support and verification 5%3.5
Scores are my own editorial judgement from public sources, not a measurement. Weights are shown next to each criterion.
Topstep scores top marks for track record and strong payout evidence, and lower for public rating and rule stability. See how it compares in the full ranking.
Ready to look at Topstep?
Reminder: I do not claim that any firm here is safe, that you will pass a challenge, get funded or be paid, or that trading will be profitable. Ratings are my editorial judgement from public sources, which are often affiliate-funded and sometimes disagree. Commissions never change a score. Only pay what you can afford to lose.