Topstep is THE industry’s leading Futures Prop Trading Firm that has been operating for over 10 years. Their program called the “Trading Combine” provides traders with the opportunity to earn funding in a safe environment while also honing their skills, discipline, and trade execution. The Trading Combine is for traders of all levels, whether you are new to this space or a veteran. For profitable traders, it is essentially “free capital” to trade yet keeping the lion’s share of the profits. For traders new to the market, the Trading Combine is a safe environment to develop your skills without paying full price for errors as you learn. The first $10,000 is 100% for the trader and then there is 90/10 profit split afterwards. In fact, registered clients withdrew over $9,000,000 in profits since 2020, Topstep is paying out on average 800+ funded accounts on a monthly basis. Our review will cover how Topstep works, why they succeed in a competitive prop trading industry, how to pass the 1-step evaluation program called the Trading Combine, ongoing fees, available instruments, and more.
To earn a funded account with Topstep and be eligible for payouts, traders first need to prove that they can trade profitably within a simulated account called The Trading Combine. This is an experiential learning and evaluation program designed for futures traders. Traders develop and test their skills in simulated markets and earn funding capital upon achieving specific trading objectives. While earning a Funded Account® is one possible outcome, the discipline and habits promoted by the Trading Combine are beneficial for traders of all levels.
Topstep offers simulated accounts with different starting balances, various amounts of allowable open positions, and multiple daily/total loss limits. Notably, the balance the simulated account traders start with will also be the size of the funded account they choose for themselves/pay for once they succeed in becoming a funded trader.
Topstep offers a unique program called the Trading Combine which has three different account sizes, each of which has a monthly recurring cost. Pricing varies according to the size of the simulated account. The least expensive account, with a $50,000 funding capital, costs $49/month. The most expensive account, with a $150,000 funding capital, costs $149/month.
The Trading Combine is a simulated account, the size of the account is entirely your choice but will determine the size of your future funded trading account with Topstep once you successfully pass the evaluation. Note that whilst Topstep offers a 14-day Free Trial, trades made during this period are not considered for promotion to a funded account.
There is also the activation fee which is a one-time flat fee charge of $149 per Funded Account earned. The activation fee helps the prop firm cover the costs associated with evaluating and onboarding new funded traders, as well as the ongoing support and services provided whilst the trader has been given funding.
The activation fee covers services provided to the Funded Trader. This includes:
- Onboarding and monitoring of Funded Trader accounts
- Data & Platform costs
- Third-party software that handles contracts and payouts
- Ongoing support from our dedicated Risk Managers and Funding Specialists
Traders earn a funded account as little as 4 days by passing a 1-step evaluation called the Trading Combine. This means reaching the Topstep profit target, while achieving the trading objectives.
Topstep’s trading objectives aren’t random obstacles. They are tried-and-true risk management tools developed by professional traders. Following them will help you become a more disciplined trader. Because trading requires skill and can be challenging, only about 22% of traders make it to becoming funded traders. This group has the potential to earn money from Topstep as funded traders keep their first $10,000 in profits and 90% of all profits thereafter.
It is important to note, however, that rules still apply even for funded traders. While the monthly simulation fee is dropped, traders are responsible for paying the activation fee which is a one-time flat fee charge of $149 per Funded Account earned.
1 Step. 1 Rule à The Trading Combine
THE #1 RULE
At Topstep, teaching traders’ discipline and risk management seems to be the main priority. This critical rule can be thought of as a risk management tool that enable traders to prepare themselves for long term success and profitability in the markets.
- The only rule is to never hit or exceed your Maximum Loss Limit.
○ The Maximum Loss Limit is the most a trader can lose, updated at the end of each trading day, based on the realized profits made in the trader’s account. It helps traders keep the profits they have earned and encourages them not to give too much back to the markets.
○ Exceeding the Maximum Loss Limit results in a rule break and your account will no longer be eligible for funding.
○ The Maximum Loss Limit is critical to risk management and longevity in the markets. Remember to “always trade for tomorrow”.
○ The Maximum Loss Limit is based on your end of day balance and is designed to give you more room to trade.
Trading Plan Objectives
These non-rule violating objectives are part of the Trading Plan that they ask traders to follow. Please note that under no circumstances will you be considered a rule breaker or ineligibility for funding.
- Consistency Target
○ Best Day below 30% of total profits made.
- Profit Target
○ Reach and maintain the $3,000 profit target.
- Daily Loss Limit
○ Do not hit or exceed the Daily Loss Limit or your account will be deactivated for that trading day.
Earn Funding in 4 Days
Topstep’s 1 Step. 1 Rule. Trading Combine enables traders to get the fastest access to funding—in as little as 4 days! This is quite a big deal for the prop trading industry. However, Topstep wants to make sure that traders understand that discipline and risk management should never be overlooked.
- Topstep’s 1 Step. 1 Rule. Trading Combine allows you to earn funding in as little as four days!
- This is the fastest program you will find across the prop firm industry.
- Topstep wants to quickly reward hard working and disciplined traders with the capital funding they deserve.
- Topstep has the #1 Payout Policy in the industry. Funded Traders can pay themselves up to 4 times a month!
If you follow these guidelines as well as reaching/maintaining the profit target and consistency target, you will then advance to the Express Funded Account.
For more information about the rules and objectives, you can head to the Topstep Help Centre which is of great assistance when it comes to explaining the rules.
Group Coaching:
Group Coaching is a great way to connect with and learn from experts and peers! Discuss current market trends, news, and get answers to your burning questions live from futures trading veteran, John Hoagland, every Monday, and Wednesday at 1 PM CST.
(NEW!) One-on-One Coaching:
Check in with an expert regularly to discuss your trading approach, risk management, and mindset needed to get funded and pay yourself.
Their coaches are here to help you succeed!
Topstep is in the process of building this new and free opportunity for all active traders. Join their waitlist to be alerted when openings are available!
Digital Coaching with Coach T:
Topstep’s trading dashboard features Coach T, a digital performance coach providing tools and personalized trading stats to help you become a smarter, more disciplined trader. Coach T guides traders in achieving Funded Trader status every time they get in front of the trading screens.
Topstep has multiple built-in trading platforms to use with simulations and Funded Accounts. The most popular platform is TSTrader, powered by Tradovate. This charting software has an intuitive interface and many useful features, including the ability to set hotkeys, plot trendlines and retracements, and buy and sell straight from the charts. The platform also includes a basic stock news ticker page, which allows you to track profits-and-losses during the simulation period.
TSTrader also offers a replay function which allows analysing previously executed trades and learning whether its performance was successful or not. This replay function is somewhat limited as there is no way to fast-forward to a specific time or to choose specific asset classes.
Trading Products
The Topstep Trading Combine® includes a subset of Chicago Mercantile Exchange (CME) Futures Contracts included in the list below.
- E-mini-S&P 500 and NASDAQ 100
- Crude Oil
- Gold
- Interest Rates
- Micro Gold, Micro Crude Oil, and Micro Bitcoin
To view the full product list, please visit: https://www.topstep.com/how-it-works/
Trading Hours:
Positions cannot be held on trading days between 3:10 p.m. and 5:00 p.m. Central Time (in Trading Combine accounts). Some futures markets close before 3:10 p.m. Central Time. If you are trading one of these products, you must exit that market before the daily close of the given product. You should also consider the designated holidays according to the CME Protocol.
More info about Topstep rules and trading hours at https://www.topstep.com
Topstep has one of the best, if not The best payout policy in the prop trading industry. It allows traders to take weekly payouts as well as getting access to 100% of their profits after accumulating 30 winning trading days!
Traders can also request a payout of up to 50% of their account balance after accumulating five winning trading days per payout request. Note that a winning trading day is taken into account when a day’s Net PNL is $200 or above.
Once traders have accumulated 30 winning trading days in their account, they can unlock access to 100% of their balance. Going forward, traders can request up to 100% of their balance with each payout request. Keep in mind that, if a full 100% payout is requested, the Funded Account will be closed since the balance will be brought to the Maximum Loss Limit. Payout requests can then be made anytime, for any amount, up to 100%.
- Opportunity for traders with little capital to achieve a funded trading account.
- Prop trading firm with over 10 years of experience in the industry and an excellent reputation.
- Funded traders keep 100% of their first $10,000 profit and a 90/10 of Profit Split thereafter.
- Free training and coaching programs to help you safely and securely succeed in becoming a Topstep Funded Trader
- Simulator forces extremely high standards for trading and minimizes risks.
- 20% Discount offer (no code required) on the purchase of your first Trading Combine.
- Industry leading Trader Support team. Offers email, phone, screen share, and chat support.
- Uses Deel for payouts, which offers over 15 payout options. Great for non-US citizens.
- Futures trading only.
- Only runs sales occasionally.
Topstep is indeed, the #1 prop firm. The ideal place for traders looking for strong buying power to build their own trading career, the ones that have a passion for trading but struggle with trading consistently, and the beginners looking to jump into the world trading with guidance and coaching. Topstep’s funded program the Trading Combine offers access to various trading platforms and educational resources such as the digital performance coaching sessions with Coach T which provides tools and personalized trading stats to help traders become smarter, and more disciplined. Overall, we must admit, Topstep has put together THE industry leading futures proprietary firm where traders can experience optimum trading conditions in a great environment.
PS: We highly recommend that inexperienced traders use resources that Topstep has made available through its demo, which comes free of cost for 14 days at www.topstep.com.
