MyFundedFutures VS Topstep

MyFundedFutures vs Topstep - Comparison Funded Frogram

Overview

In this piece we’ll examine two of the prop trading industry’s best prop firms, MyFundedFutures and Topstep, to help you with the decision about which will be the better fit for you. Both platforms give aspiring traders the opportunity to demonstrate their trading abilities in order to qualify for funding, but each firm takes a different approach, and they cater to traders with different amounts of experience and different requirements.

MyFundedFutures enables you to trade without risking your own capital, instead using simulated funds. Those who successfully complete the firm’s evaluation phase will be able to trade with as much as $600,000 and withdraw profits every two weeks.

The firm is a partner of MyFundedFX, a well-known and well-regarded forex firm whose successful strategy and high standards MyFundedFutures looks set to replicate.

From trading platforms through to range of account options, the firm places a strong emphasis on transparency and serving the needs of its traders in every respect. Partnering with the firm will give you a 90% profit share, as well as the entirety of the first $10,000 you generate in profits.

Outstanding US-based prop trading firm Topstep has over a decade of experience in the sector. They work with NinjaTrader, Tradovate, and TradingView as both trading platforms and brokerage services, and even more excitingly have recently introduced their own revolutionary trading platform TopstepX™, developed by a team of industry-leading software developers and traders. Taking into account feedback and insights from their users, as well as of course their own ten years of experience, the exclusive platform outperforms all the conventional trading platforms, providing you with “the Ultimate Trading XperienceTM”.

Additionally, TopstepTV™, a live streaming service coming straight from the Topstep headquarters, airs weekdays from 8am to 3pm CT. You’ll have the opportunity to learn directly from experts as they trade live and examine market movements. All the latest economic news, professional trading suggestions, data, performance incentives and guest appearances are among the wealth of benefits offered by this innovative broadcast.

Topstep serves traders comfortable managing moderate to large sums of capital, with account sizes from $50,000 to $150,000. The review process has one stage, with profit targets of $3,000, $6,000 or $9,000 (depending on account size) and drawdown restrictions of $2,000, $3,000 or $4,500. CME equities futures such the E-mini S&P 500 (ES) and micro versions of important indexes including the S&P, NASDAQ 100, and Russell 2000 are all available to trade, and forex futures traders can trade the Australian Dollar (6A), Euro FX (6E), and Japanese Yen (6J).

Screenshot 12 MyFundedFutures vs Topstep
Screenshot 151 MyFundedFutures vs Topstep
MyFundedFutures is best suited to: Topstep is best suited to:
Those starting out as futures prop traders Beginners who want to quickly grow their knowledge base.
Traders looking for fast payouts Futures traders who want a realistic trading simulation.
Traders seeking a straightforward, one-step challenge with a 25% pass rate Traders prioritising educational materials and live sessions.
Traders who value a generous 90% profit share Traders who might benefit from stricter risk management rules to uphold discipline.
Those prioritising efficient customer service Traders searching for a prop firm compatible with all major platforms

Topstep vs. MyFundedFutures: A Comparative Table & Rules

Both MyFundedFutures and Topstep distinguish themselves as industry leaders with innovative features geared to assist traders in realising their full potential. Both firms also give traders market access without asking them to risk their own funds. To provide a clear comparison, the table below lists each firm’s policies and features.

Feature MyFundedFutures Topstep
Challenge Types One-Step 1-Step/1-Rule
Challenge Account Sizes $50,000, $100,000, $150,000 $50,000, $100,000, $150,000
Challenge Cost $100 - $375/month $125 - $650/month
Minimum Trading Days 1 days 2 Day
Max Daily Loss none $2,000 up to $4,500
Max Drawdown $4,500 Varies by program
Payout Split 90/10 (trader/firm) Keep 100% on first $10,000 profits 90/10 (trader/firm) Keep 100% on first $10,000 profits
Profit Target $3,000 to $12,000 $3,000 to $9,000

Additional Points:

Topstep:

  • Topstep only has one rule: the Maximum Loss Limit (MML). This is calculated using your end-of-day balance, as opposed to intraday unrealised profits. Breaking the MML is deemed to be a rule breach.
  • Topstep offers a Performance Coaching Plan, which costs $395 monthly – or is a complimentary addition to funded accounts. This plan includes a half-hour introductory session, daily and weekly meetings, coaching to help you with your personal techniques, and the chance to join a group chat with fellow traders.

MyFundedFutures:

  • There’s no consistency rule in the evaluation process. It instead comes into play when you trade on a Starter account with simulated funding. (Expert accounts are exempt.) This consistency rule means that your profits each day can’t exceed 40% of your total accumulated profits. Breaking the rule won’t affect your account, but it will mean you can’t withdraw your profits until you’ve generated enough profits that no single day’s gains makes up more than 40% of the total.

Deeper Dive into MyFundedFutures vs. Topstep Trader

The following table takes a closer side-by-side look at the rules of MyFundedFutures and Topstep.

Rule Category MyFundedFutures Topstep
Allowed Instruments Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures. Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures.
Scalping Allowed Allowed
Day Trading Allowed Allowed
Swing Trading Allowed Allowed
Holding Positions Overnight Not Allowed Not Allowed
Holding Positions Over Weekends Not Allowed Not Allowed
News Trading Allowed Allowed

Max Daily Loss (MDL):

  • Topstep: Keen to focus on risk management, Topstep’s daily loss limits are calculated using the previous day’s closing account balance. They differ for each account, with a $1,000 maximum daily loss for the $50,000 Trading Combine, a $2,000 maximum daily loss for the $100,000 Trading Combine, and a $3,000 maximum daily loss for the $150,000 Trading Combine. If you exceed your daily loss limit, your Trading Combine will be terminated.
  • MyFundedFutures: Τhe firm’s focus is on End of Day Drawdowns and a Consistency Rule, rather than maximum daily loss limits.

Max Drawdown (MDD):

  • Topstep: Topstep’s focus is on daily loss limits – see above for more information.
  • MyFundedFutures: MyFundedFutures doesn’t impose a daily drawdown limit, freeing you from the worry of the impact of daily fluctuations on your balance. The firm instead applies a maximum end-of-day (EOD) drawdown limit of 3%. This is capped at the account’s initial balance, plus $100. So, for a $50K account the maximum EOD drawdown is $51,600, and for a $150K account, $154,600.

Withdrawals:

  • Topstep:Topstep requires traders to generate more than $200 in profits on five different (not necessarily consecutive) trading days – known as “winning days” – in order to qualify to withdraw half of your account balance. To withdraw the whole balance, you’ll need to accumulate 30 winning days. Once you’ve submitted a payout request, it will take around seven hours to process it and you’ll then receive your payout in the next one or two working days.
  • MyFundedFutures: For the first two months of Starter programs, withdrawals are capped at a limit calculated using the account’s starting balance and the maximum drawdown percentage. A $50,000 account that has a 4% maximum drawdown, for instance, is eligible for withdrawals of up to $2,000 every two weeks. From the third month onwards, the restriction ceases – something that really distinguishes MyFundedFutures from other prop firms that cap withdrawals for at least three months. Expert plans have no caps on withdrawals, and again these can be made on a fortnightly basis.

Leverage:

Leverage Futures MyFundedFutures Topstep
Futures 1:1 1:1

Topstep vs. MyFundedFutures: Pros and Cons

Topstep:

Pros

Cons

MyFundedFutures:

Pros

Cons

Conclusion

Both MyFundedFutures and Topstep are great choices for traders looking for financial support to trade in the markets. MyFundedFutures caters to individuals who need a large amount of capital – as much as $600,000 – and is suitable for traders looking to further their trading careers as well as those just starting out in the sector who require a reputable firm with reasonable pricing. At the same time, Topstep, a firm with extensive expertise in the futures prop trading field, is known for its comprehensive Trading Combine program, broad platform compatibility, and dedication to trader growth and a nurturing a uniquely supportive trading environment. Its better educational offerings are also definitely worth bearing in mind.

Traders who want to take a systematic approach to expanding their trading knowledge and the opportunity to network with other traders may find Topstep more enticing. You can find more information on our website. Alternatively, traders who like MyFundedFutures’ straightforward approach may find the firm will suit them better.

Remember that this summary is just an introduction, and it’s a good idea to do further research on both firms – including the programs they offer, what their pricing structures are, and exactly how their rules work – before choosing which firm is the best fit for you.

MyFundedFutures vs Topstep - Comparison Funded Frogram
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