Topstep Review 2025: The OG Futures Funding Path

3 Key Takeaways from This Topstep Review

• Still one of the most legit futures prop firms in 2025. If you want structure, payouts, and trader development—it delivers.
• TopstepX is non-negotiable now. Either embrace their ecosystem (with tools like The Tilt™) or look elsewhere.
• First $10K is 100% yours. But watch your payouts—because every withdrawal resets your drawdown to zero.

Let’s be clear—I’ve actually used Topstep. Tested the Combine. Got funded. Pulled payouts. This review isn’t scraped together from secondhand Reddit posts or recycled affiliate fluff. It’s from the seat of someone who's been in their system and traded real capital with them.

Now, Topstep isn’t some flashy new prop firm that popped up last year with a crypto coin and Discord mods. It’s one of the originals. Been around since 2012, back when most of today’s traders were still chasing penny stocks on Robinhood. In a space full of copycats and churn-and-burn models, that kind of longevity actually means something.

But age alone doesn’t equal relevance. So the question is: does Topstep still hold up in 2025? Is it worth your time, your Combine fee—and potentially your trust?

Let’s break it down.

🔗 New to prop trading? Start here: What is Prop Trading

What is Topstep? Quick Overview

I’ll keep it simple: topstep is a prop firm that funds futures traders only. No forex, no stocks, no synthetic crypto pairs—just regulated CME products like ES, NQ, CL, GC, and the rest of the usual suspects.

They’ve been doing this since 2012, long before prop trading became a TikTok trend. And that matters. Most firms today are startups with slick marketing and weak infrastructure. Topstep? They've funded thousands, paid out millions, and built an actual ecosystem around trader development—one that doesn’t rely on fake PNL screenshots or Discord hype.

Their model revolves around the Trading Combine, which is a one-step evaluation you pass to get funded. Sounds basic—but Topstep adds some unique twists (like the “Consistency Target” rule) that force you to actually trade like a pro, not just YOLO your way to the profit target in two days and call it a win.

And their proprietary platform, TopstepX, is now the default for all new traders. Honestly? I was skeptical at first, but I’ll say it straight: it performs. Clean, fast, solid charting (thanks to integrated TradingView), and even some surprisingly useful tools like “The Tilt™,” which shows what other Topstep traders are leaning toward (long/short).

If you're looking for a serious futures-only prop firm with tight rules, a legit track record, and actual payout history? Topstep’s in the conversation.

But it’s not for everyone—and that’s where things get interesting.

Topstep Unique Features & Benefits

Most firms today slap together a Metatrader license, throw in a 2-step challenge, and call themselves a prop firm. Topstep’s different—and not just because they’ve been around forever.

Here’s what actually stands out:

1. Futures-Only Focus

No distractions. No forex hype. No penny-stock pump and dumps. Topstep is futures-only—and that’s a good thing. It forces them to actually know what they’re doing in one asset class instead of half-assing ten. Their support, their rules, their tech—it’s all built for the CME ecosystem.

This isn’t some "jack of all trades" setup. If you’re serious about futures, you’ll feel it.

2. TopstepX (Their Own Platform)

Most prop firms rely on third-party platforms. Not Topstep. They’ve gone all-in on TopstepX—a web-based trading platform that’s now required for all new Combine accounts. And here’s the part that surprised me:

It works.
It’s clean, fast, and has actual trader tools. TradingView charts, order flow tools, even their quirky but useful sentiment tracker (“The Tilt™”) that shows what the herd is doing.

They claim pass rates and payouts are higher on TopstepX. Based on what I saw? Not total nonsense. Execution feels snappy, and the UI doesn’t get in your way.

3. Built-In Coaching & Trader TV

This is where Topstep really leans into “trader development” mode.
They’ve got TopstepTV built directly into the platform with live sessions, leaderboards, and coaching. If you like the idea of being part of a structured environment with actual guidance (not just random YouTube videos), this stuff can help.

That said—some of it’s a bit hand-holdy. Depends on your taste.

4. 100% Payout on First $10K

You get to keep your first $10,000 in profits completely.
No split. No gimmicks. After that it’s 90/10, which is still better than a lot of firms.

It’s a solid way to build your own buffer while using their capital. And yeah—I’ve hit the payout trigger myself, and it came through (more on that later).

5. One-Step Combine

No multi-step maze. You pass the Combine, you get funded. Simple as that.
Of course, there are rules (like consistency targets and trailing drawdowns), but you’re not stuck in endless loops trying to get “approved for phase 2” like some of the newer firms out there.

Topstep Funding Options & Evaluation Process

Topstep runs on one main model: the Trading Combine. No instant funding. No “choose your path” fluff. Just one evaluation track—pass it, and you’re in.

The Combine: One Step, Three Account Sizes

You pick your plan based on buying power. Here’s what’s on offer:

• $50K Plan – $49/month, $3K profit target, 5 contracts max
• $100K Plan – $99/month, $6K profit target, 10 contracts max
• $150K Plan – $149/month, $9K profit target, 15 contracts max

The key numbers scale in line. So it’s really about your comfort level with contract size and risk. Personally, I prefer the $100K—enough room to trade NQ or CL cleanly, without overexposing.

Once you pass the Combine, you activate an Express Funded Account for a $149 fee. This is still simulated—but now you’re on the payout path.

Eventually, if you hit five payouts (or perform well enough), they promote you to a Live Funded Account. One real account. No more Express accounts running in parallel.

Resets & Fees

• Reset fee: $49
• Level 2 data (optional): $39/month
• Activation fee: $149 (when funded)

Topstep doesn’t nickel-and-dime you, but resets can add up fast if you're winging trades or trying to pass in a weekend. You’ve gotta plan for that—or better yet, trade smart.

Topstep Rules: Drawdown, Targets & What to Watch

Honestly, the rules at Topstep aren’t hidden—but they do trip people up. Especially traders coming from more lax firms or spot forex. So let’s unpack the ones that really matter.

Trailing Drawdown (TPDLL)

This is the big one. Topstep uses a Trailing Personal Daily Loss Limit that moves up as you make profits—
but never moves back down.

• If you gain $1,000, the max draw resets $1,000 higher.
• If you then lose $800... you’re now sitting way too close to the edge.
• Once that drawdown hits? Combine over.

This rule forces discipline—but it’s also psychologically brutal. You’re constantly trading in a narrowing tunnel unless you lock in gains smartly. Let a big winner ride too long without banking it, and a pullback can kill the account even if you're still green overall.

Want to avoid this? Trade like you’re managing someone else’s money—because technically, you are.

🔗 I talk more about this mindset in How I Hit $50K/month Across Multiple Prop Firms

Consistency Target

This is sneaky. You can’t pass the Combine if your biggest winning day is more than 50% of your total profits.

So if your goal is $6,000, and you make $3,100 on day one? Congrats—you just added days to your challenge. Now you’ve got to push your total above $6,200+ so that day one falls under the 50% line.

Sounds annoying. And it is. But I get why it’s there. They don’t want one-hit wonders who spike and blow. They want traders who can grind.

Contract Limits

Each plan comes with a strict max contract limit:

• $50K = 5
• $100K = 10
• $150K = 15

Micros count 10:1 against minis (5:1 for silver).
So don’t try to sneak in with 50 MES and pretend it’s chill—you’ll get flagged.

Flat by 3:10 PM CT

You must close trades before 3:10 PM Central.
Topstep’s risk team might flatten you at 3:08—but don’t count on it.

No overnight or weekend trades. This isn’t a swing trader’s playground. It’s built for day trading futures, period.

News Trading Allowed (But Risky)

Unlike some firms, Topstep lets you trade through news events—FOMC, NFP, CPI, whatever.

But should you? That’s on you. Slippage, spikes, spreads—it all still happens. They just won’t penalize you for trying. Risk smart, or skip it.

Prohibited Conduct (Read the Fine Print)

Here's where it gets a little grey. Topstep bans:

• Shared IPs / "account hedging"
• Running “identical” strategies on separate accounts
• Any software or bot-style trading
• “Disruptive behavior” (whatever that means)

Some traders have had accounts nuked for this—even after making money. The rules are broad, and Topstep has full discretion. Not saying it’s unfair, but you better play clean and solo.

If you're managing multiple accounts from the same household, tread carefully.

Platforms & Assets: What Can You Trade with Topstep?

Topstep used to let you pick your platform—NinjaTrader, Tradovate, Quantower, whatever. But that era’s over.

As of mid-2025, TopstepX is the only platform for new Combine accounts and resets.

TopstepX: Better Than I Expected

I’ll be real. When I first heard “proprietary platform,” I rolled my eyes. Usually means clunky UI and weird execution.

But TopstepX? Actually pretty slick.

• Fully browser-based (PC, Mac, even mobile)
• Integrated TradingView charts (finally… real tools)
• One-click contract sizing, auto-close at EOD
• Direct CME data feed, no weird delays
• And then there’s The Tilt™: a live sentiment indicator showing what other Topstep traders are biased toward (long or short). Slight gimmick? Sure. But I’ve actually used it for NQ opens—and it’s surprisingly helpful.

If you’re trading micros on MES, MNQ, or dabbling in GC/CL, the platform does the job.
I’ve seen worse execution on paid third-party terminals.

Still on Ninja or Tradovate?

You can keep using those only if you passed before the cut-off and already have funded accounts running on them. But you’re locked out of those options for new Combines going forward.

So yeah—you’ll have to get used to TopstepX whether you like it or not. Good news is, it’s not bad. And their internal stats show traders perform better on it anyway (pass rates are ~86% higher vs. third-party platforms, according to Topstep).

What Can You Trade?

Only futures.

Here’s the short version of what you can trade:

• Indices – ES, NQ, RTY, MNQ, MES, M2K, etc.
• Metals – Gold, Silver, Copper (plus micros)
• Energy – Crude, Natural Gas, Heating Oil
• Ags – Corn, Soybeans, Wheat
• Currencies – Euro FX, British Pound, Yen
• Rates & Bonds – 10-Year, 30-Year, 5-Year Notes

No stocks, no spot forex, no crypto CFDs.
Just CME, NYMEX, CBOT, and COMEX contracts. Clean and regulated.

Payouts at Topstep: How They Work (and My Results)

This is where most prop firms fall apart. Fancy marketing, smooth onboarding—and then the payout process is some black hole where your profits go to die.

Not Topstep.

I’ve personally gotten paid out from them, more than once, and the process is solid—as long as you follow the rules.

You Only Get Paid From Funded Accounts

Let’s clear this up: You don’t get paid from the Combine. It’s a simulated evaluation, not a real-money account.

You start earning withdrawable profits once you reach an Express Funded Account, and then later, the Live Funded Account (after five payouts or at Topstep's discretion).

First $10K = 100% Yours

This is one of Topstep’s biggest draws:
You keep 100% of your profits up to $10,000. No split. No fee.

Once you hit that milestone, the payout split moves to 90/10 (you keep 90%).

This alone puts Topstep way ahead of firms that start you at a 50/50 or 80/20 split from day one.

🔗 If payout models confuse you, read: Do Prop Firms Really Pay? The Truth About Payouts

You Need 5 Winning Days First

To request a payout, you need five winning days with $200+ net PNL each. Doesn’t matter if they’re consecutive.

Once that’s in place, you can request weekly payouts. And if you’re in a Live Funded Account with 30+ winning days total, you unlock daily payouts (yes, even 100% of your balance—though doing that closes the account).

Processing Time

• ACH: Up to 10 business days
• International Wire: 3–5 business days

In my case, I’ve gotten payouts in 4–6 days via wire. Smooth, no weird “verification” drama.

One Catch: Payouts Reset Your Drawdown

This one stings if you’re not ready.

Every time you withdraw, your Maximum Loss Limit resets to $0.
That means if you pull $3K, and then lose $3K… you’re out.

And worse, your contract limits get recalculated based on your new lower balance. So yeah—pull too much too soon, and you shrink your own firepower.

Plan your payouts strategically. I’ve had to slow down withdrawals just to keep a buffer.

Final Verdict: Is Topstep Worth It in 2025?

I’ve traded with Topstep. Passed, got funded, pulled payouts. And here's the honest take:

Topstep is solid, structured, and legit.
But it’s not for everyone—and it’s definitely not perfect.

What They Get Right

• One-step evaluation is clean. No Phase 1 / Phase 2 circus.
• TopstepX surprised me—in a good way.
• Payouts are reliable, fast enough, and that 100% on your first $10K is still one of the best deals out there.
• The community and coaching setup is better than most. Especially TopstepTV—it’s more than fluff.

And yeah, they’ve been around since 2012. That actually matters. No rug-pulls, no shady PayPal delays, no offshore LLC vibes. They’re the real deal in terms of history.

But There Are Tradeoffs

• You must use TopstepX now. If you’re glued to NinjaTrader or want flexibility, sorry—it’s their way or no way.
• The Trailing Drawdown resetting to zero after payout can mess up your account if you’re not careful. It’s fair, but brutal if you mismanage it.
• The Consistency Rule adds time—and costs you more in Combine fees if you hit big on Day 1.
• They watch “Prohibited Conduct” like a hawk. Shared WiFi? Copying trades across accounts? Even if accidental, you can get flagged. Just don’t mess around.

Also—you only get one Live Funded Account at a time. That limits scalability.

My Bottom Line

If you’re serious about futures and want a long-term prop firm with structure, Topstep delivers. It’s built to train you—not just to pass you.

But these days? I’m using TopOneTrader more often. Faster to scale, multiple funded accounts, more flexibility. And payouts? Just as clean.
Here’s my review if you're curious:
🔗 TopOneTrader Review

So—should you try Topstep?

You should if:

• You want a structured evaluation with clean rules
• You’re cool with trading only futures, no spot forex or stocks
• You don’t mind learning a new platform (TopstepX)
• You care about support, coaching, and trader development

You should skip it if:

• You want instant funding or two-step flexibility
• You’re looking to copy trade or run multiple strategies across accounts
• You need max scaling or multiple Live accounts at once