Topstep Pricing Breakdown: Is It Worth It or Are There Cheaper Options?

Topstep isn't the cheapest futures prop firm anymore—and it doesn't pretend to be.

With the February 2026 pricing update pushing the activation fee to $149, the Standard Path starting at $49/month, and the new 90/10 profit split hitting all payouts from day one for new traders, the total cost of getting funded and staying funded has gone up.

But cheaper doesn't always mean better, and the firms undercutting Topstep on price often make up the difference with stricter rules, worse platforms, or shadier payout histories. After breaking down every dollar you'll spend at Topstep versus the major competitors, the picture is more nuanced than "just pick the cheapest one."

Why Topstep matters: Topstep is the firm that started the futures prop trading industry. Founded by CME floor trader Michael Patak, they've been around longer than any competitor. I've evaluated their accounts, tracked their payout history, and compared them against every major alternative in the space.

That said, longevity doesn't mean perfection. Topstep has strengths (proven track record, fast payouts, strong platform support) and weaknesses (trailing drawdown, subscription model costs, no affiliate program for reviewers) that I've documented honestly. For a complete breakdown of their account types, pricing, and what to expect at each stage, read my full Topstep accounts overview. For the absolute latest, check Topstep's website or their Help Center.

The Full Cost of Topstep in 2026

Let's map out every dollar from signup to sustained funded trading. Most pricing comparisons only look at the monthly fee—that's maybe 40% of the actual cost.

Path 1: Standard (Lower Monthly, Activation Fee)

Path 2: No Activation Fee (Higher Monthly, $0 When Funded)

The No Activation Fee Path charges $109/month regardless of account size, with $0 activation when you pass. The math tips in this path's favor if you expect to pass quickly and want to avoid the lump-sum $149 hit at funding.

Breakeven point: if you pass in 1 month on the 50K, Standard Path costs $198 ($49 + $149) versus $109 on the No-Fee Path. Standard is more expensive. On the 100K, Standard costs $248 versus $109—Standard is more expensive again in month one. The No-Fee Path wins on speed.

But if you take 3+ months on the 50K, Standard totals $296 ($49 × 3 + $149) versus $327 ($109 × 3) on No-Fee. Now Standard is cheaper. The crossover happens around month 2-3 depending on account size.

My take: if you're a beginner expecting 3+ months to pass, go Standard Path. If you're experienced and plan to pass in 1-2 months, the No-Fee Path saves money and eliminates the activation fee entirely.

Hidden Costs Most People Forget

Reset fees match your monthly subscription. Blow your account and want to try again without buying a new Combine? That's another $49-$149. Two resets on a 100K account adds $198 to your total.

Payout processing fees of $30 per withdrawal hit on ACH and Wire through the new dashboard. Taking monthly payouts? That's $360/year in processing fees alone. Wise is cheaper ($0.39 for USD-to-USD) but still adds up.

The 90/10 profit split is the biggest ongoing cost that people ignore when comparing subscription prices. On $50,000 in annual trading profits, you're giving Topstep $5,000. That dwarfs any difference in monthly fees between competitors.

Sales tax may apply depending on your location and is added at checkout. It's not included in the listed prices.

How Topstep Stacks Up Against the Competition

Here's where it gets interesting. Topstep's headline pricing looks higher than several competitors—but headline pricing tells maybe half the story.

Topstep vs. Apex Trader Funding

Apex is Topstep's most direct competitor in futures prop trading. Founded in 2021, they've grown aggressively with constant promotional pricing and a more permissive rule set.

The price reality: Apex runs nearly permanent 80-90% discount promotions, dropping their $297/month 100K evaluation to $59 or less. At that price, Apex is significantly cheaper on the monthly fee AND has no activation fee. On pure subscription cost, Apex wins easily.

But here's what the price doesn't tell you: Apex uses intraday trailing drawdown, which is more aggressive than Topstep's end-of-day calculation. Your MLL can trail up mid-session on a winning trade and then catch you on a pullback—all in the same day. Topstep's EOD trailing only updates at market close, giving you more room to manage intraday volatility. That difference in drawdown mechanics is worth more than the subscription savings for many traders.

Apex also enforces a tighter 30% consistency rule versus Topstep's 50%. That means your best day can't exceed 30% of total profits at Apex—more restrictive, and harder to manage if you have one strong session early in your evaluation.

Who should choose Apex over Topstep on price: Experienced traders who want platform flexibility (NinjaTrader, TradingView), overnight hold capability, and the cheapest possible entry point. If you can handle intraday trailing drawdown and the tighter consistency rule, Apex's discounted pricing is hard to beat.

Who should pay more for Topstep: Traders who benefit from EOD drawdown (more forgiving), the structured TopstepX environment with built-in risk controls, and Topstep's 12+ year track record of actually paying traders.

Topstep vs. Earn2Trade

Earn2Trade is another established futures prop firm, known for its educational focus and slightly different drawdown structure.

Key differences: Earn2Trade uses EOD trailing drawdown (similar to Topstep) and enforces a 30% consistency rule (tighter than Topstep's 50%). Their Gauntlet Mini evaluation starts at $150 for 50K accounts—more expensive monthly than Topstep's $49 Standard Path. However, they support NinjaTrader and Finamark, giving platform flexibility that Topstep no longer offers to new traders.

Earn2Trade's 4.7/5 Trustpilot rating from 2,000+ reviews is strong, and their educational resources (Journalytix integration, strategy modules) appeal to traders who want structured learning. But at the price point, Topstep offers more buying power per dollar on the Standard Path.

Topstep vs. Bulenox

Bulenox, founded in 2022, takes a different approach entirely. They offer one-time evaluation fees instead of monthly subscriptions: $143 for a 25K account up to $898 for a 250K account. No recurring charges during evaluation.

The appeal is obvious: pay once, take as long as you need. If you're the type who needs 6 months to pass, Bulenox's one-time fee is dramatically cheaper than 6 months of Topstep subscriptions. But Bulenox's one-time fee is non-refundable, there's no reset included, and their track record is much shorter than Topstep's.

Bulenox also has no consistency rule—which sounds great until you realize it means they're less selective about who gets funded, and the firm's long-term sustainability becomes a question mark. Prop firms that fund everyone eventually run into financial problems. Topstep's stricter rules are partially what's kept them solvent for 14 years.

Topstep vs. TradeDay

TradeDay positions itself as a mid-range option with $99/month for 50K accounts and solid platform support. They've built a reputation for fast payouts and clear rules. The pricing is higher than Topstep's 50K Standard Path ($49 vs. $99) but competitive at the 100K level.

TradeDay's advantage is platform flexibility—they support multiple execution platforms while Topstep locks you into TopstepX. For traders who refuse to give up NinjaTrader or Sierra Chart, TradeDay is worth the look.

The Real Question: What Are You Actually Paying For?

Here's where most pricing comparisons fail. They compare monthly fees like they're buying a commodity. But prop firms aren't interchangeable products. You're paying for four things:

1. Drawdown mechanics. Topstep's EOD trailing drawdown is objectively more forgiving than intraday trailing. That extra breathing room during volatile sessions prevents account breaches that would happen at firms using intraday calculations. How much is that worth? If it saves you one blown account (and the $49-$149 reset cost), it's already paid for itself.

2. Platform and tools. TopstepX includes TradingView charts, commission-free execution, The Tilt™ sentiment indicator, copy trading, and built-in risk management—all at no extra cost. At other firms, you'd pay $25-$100/month for NinjaTrader, $15-$30/month for TradingView, plus per-contract commissions. TopstepX bundles everything.

3. Track record and payout reliability. Topstep has been paying traders since 2012. They have 11,500+ Trustpilot reviews at 4.3 stars. They've funded tens of thousands of accounts and paid out millions. Newer firms offer lower prices partly because they're building market share—not because their operational costs are lower. Some of those firms won't exist in 3 years. Topstep almost certainly will.

4. Structure and support. TopstepTV coaching, Discord community, Consistency Target Calculator, practice accounts, Training Camp educational series. These aren't just marketing features—they're tools that measurably improve pass rates. Topstep claims their pass rates on TopstepX are nearly double what they were on third-party platforms. If even half of that is true, the platform's built-in structure is saving traders money by helping them pass faster.

Total Cost of Ownership: A 12-Month Model

Let's model the complete cost across three firms for a trader who passes in month 2 and takes monthly payouts averaging $2,500 gross:

Topstep 100K (Standard Path):

• Months 1-2 subscription: $198
• Activation fee: $149
• Payout processing ($30 × 10 months): $300
• Profit split (10% of $25,000 gross): $2,500
• Platform/data costs: $0
• Total cost: $3,147 | Net take-home: $22,153

Apex 100K (80% discount):

• Months 1-2 subscription (~$59 × 2): $118
• Activation fee: $0
• Payout processing (varies): ~$200
• Profit split (10% of $22,500 post-$25K threshold): $0 first $25K, then 10% = ~$0 in year one
• Platform costs (NinjaTrader $75/month × 10): $750
• Total cost: ~$1,068 | Net take-home: ~$24,232

Bulenox 100K (one-time fee):

• Evaluation fee: ~$400 (one-time)
• Activation/data fees: ~$200
• Payout processing: ~$200
• Profit split: similar 90/10 structure
• Platform costs: $750+ (third-party)
• Total cost: ~$3,050 | Net take-home: ~$22,250

On raw numbers, Apex's promotional pricing makes it the cheapest path to funded trading. But this model assumes equal pass rates and equal payout reliability—and those assumptions don't hold equally across firms.

When Topstep's Price Premium Is Worth It

You're a beginner who needs structure. The self-imposed risk limits, TopstepTV coaching, consistency calculator, and practice accounts in TopstepX are training wheels that prevent expensive mistakes. Saving $40/month on a cheaper firm means nothing if you blow two extra accounts learning lessons Topstep's platform would have caught.

You trade volatile instruments (CL, NQ). EOD trailing drawdown gives you significantly more intraday room than firms using intraday trailing. If you scalp crude oil or NQ, that difference in drawdown calculation can be the gap between a living account and a breached one during a fast market move.

You value payout certainty. Topstep has 14 years of payout history. When you request a withdrawal, you get it. Period. With newer firms, there's always some nonzero probability of operational issues, delayed payments, or worse. The peace of mind has real value, especially once your payouts reach $3,000-$5,000/month.

You don't want to manage platform subscriptions. TopstepX includes everything. No NinjaTrader license fee, no TradingView subscription, no separate data feed costs (Level 1 included, Level 2 is $34.25). For traders who hate managing multiple software subscriptions, this simplicity is worth a few extra dollars per month.

When to Choose a Cheaper Alternative

You're experienced, profitable, and just need capital. If you already have a proven strategy, your own platform setup, and you don't need coaching or risk guardrails, Apex's discounted pricing gets you funded for less. You're buying access to capital, not a development program.

You need platform flexibility. If your strategy requires NinjaTrader automation, Sierra Chart order flow, or TradingView Pine Script indicators, TopstepX literally can't support you. Paying less at a firm that supports your required platform is the only rational choice.

You want to run many accounts simultaneously. Apex allows up to 20 funded accounts versus Topstep's 5. For traders running multiple strategies across multiple accounts, the math favors Apex's higher account limit even at the same per-account price.

You hold positions overnight. Topstep requires all positions closed by 3:10 PM CT. If your strategy involves overnight holds or swing trading futures, Topstep is structurally incompatible regardless of price.

The Bottom Line

Topstep is not the cheapest futures prop firm. It's not trying to be. What it offers is a structured, reliable, 14-year-proven path from evaluation to funded trading with some of the most forgiving drawdown mechanics in the industry and a platform that includes everything you need at no extra cost.

Is it worth the premium over Apex's discounted pricing? For beginners, yes—the structure pays for itself in prevented mistakes. For experienced traders who already have their process dialed in, the answer depends on whether you value Topstep's EOD drawdown, platform simplicity, and track record more than the $50-$100/month you'd save elsewhere.

The worst financial decision isn't picking a firm that costs $50 more per month. It's picking a firm whose rules don't match your trading style and burning through resets until you've spent more than you would have at the right firm from the start. Match the firm to your trading, not your budget.

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