TopStep Review 2025: Comprehensive Insights and Analysis

Last Updated: January 8, 2025

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Key Takeaway:

Trading Combine Cost: $49 - $149/month

Reset Cost: $49 - $149 (unlimited resets available)

Express Funded Account Activation: $149 (one-time)

Maximum Express Funded Accounts: 5 active accounts simultaneously

Account Sizes Available: $25K to $300K

Profit Share: 100% of the first $10,000, then a 90/10 split

Profit Targets: $3K - $20K (varies by account size)

Maximum Loss Limit: $2K - $4.5K

Daily Loss Limit: $1K - $3K (except TopStepX platform)

Maximum Position Size: 5-15 contracts (scales with account balance)

Minimum Days to Funding: 2 days with met objectives

Consistency Target: Best day under 50% of total profits

Platform Options: TopStepX, NinjaTrader, Tradovate, Quantower, TradingView

Live Funded Account MLL: Set at $0

TopStep has made a name for itself by rethinking how new traders break into the futures trading market. Instead of asking traders to risk their own money from day one, the company lets them prove their skills in a simulated environment first. Those who can show they know how to manage risk and meet profit targets can trade with TopStep’s money through a funded account. This practical approach helps talented traders get started without putting their savings on the line.



The prop trading firm goes beyond just offering practice accounts. Traders get regular feedback on their performance and access to trading education and can tap into a supportive community of fellow traders. This combination of hands-on practice, learning resources, and peer support creates an environment where traders can grow their skills step by step. For those looking to build a career in futures trading and have been reading TopStep reviews for inspiration, this guide could be the last reading you do.

 TopStep Overview

Founded in 2012 as Patak Trading Partners, TopStep emerged from Michael Patak’s personal journey in the futures trading space. Before launching the prop trading firm, Patak experienced significant losses as a trader himself. These early setbacks shaped his vision: to create a secure environment where aspiring futures traders could develop their skills professionally without facing the devastating losses he had encountered.

The firm’s evolution tells an exciting story of innovation. After establishing itself, the company rebranded as TopstepTrader and introduced the Trading Combine®, marking a significant milestone as the first funding opportunity specifically designed for retail traders. This evaluation process broke down traditional barriers by offering a simulated environment where traders could showcase their abilities before accessing real capital.



Patak and his associates operate from an office in downtown Chicago, where they’ve grown TopStep into a massive operation. The company has over 60 team members who have guided it to outstanding achievements – they’ve secured spots on prestigious lists, including Inc. 5000’s fastest-growing private companies, Crain’s 100 Best Places to Work in Chicago, and the Deloitte Technology Fast 500. More importantly, they’ve funded thousands of traders globally, distributing millions in withdrawal payments to successful participants.

Pros and Cons

When considering TopStep, traders should weigh several key advantages and limitations to assess if this prop firm aligns with their trading approach and goals.

What are Topstep's Tradable Hours ?

The trading schedule at TopStep follows strict market hours guidelines. Most crucially, traders cannot hold positions overnight or through weekends. Every open position, including pending orders, stops, and targets, must be closed by 3:10 pm Central Time (CT) from Monday through Friday. Trading activity resumes at 5:00 pm CT and begins again on Sunday at 5:00 pm CT after the weekend break.

Different futures products operate on specific timeframes within the CT trading window:

• Equity Index Futures like S&P 500, NASDAQ, and Dow trade regularly from 8:30 am to 3:00 pm CT, with extended hours running from 5:00 pm the previous day until 8:30 am CT the next day

• Crude Oil Futures (CL) maintain regular hours of 8:00 am to 1:30 pm CT, extending from 5:00 pm the previous day to 8:00 am CT the next day.

• Gold Futures (GC) operates from 8:20 am to 1:30 pm CT during regular hours, with extended trading from 5:00 pm to 8:20 am CT.

• Agricultural Futures, including Corn and Soybeans, trade from 8:30 am to 1:20 pm CT regularly, with extended hours from 7:00 pm to 8:30 am CT

• Treasury Futures follows the agricultural schedule, running 8:30 am to 1:20 pm CT standard hours and 7:00 pm to 8:30 am CT extended hours.



Traders must know these market-specific closing times, as some futures markets close before the 3:10 pm CT deadline. Understanding and respecting these time constraints proves essential for successful trading within TopStep’s framework.

What are Topstep's Tradable Assets ?

This prop trading firm provides access to a comprehensive selection of CME Futures Contracts, focusing primarily on front-month trading opportunities. The available products span several major exchanges:

CME Exchange Products

Traders can access major equity futures, including E-mini S&P 500 (ES), E-mini NASDAQ 100 (NQ), and E-mini Russell 2000 (RTY). The exchange also offers currency futures such as the Euro FX (6E), British Pound (6B), and Japanese Yen (6J). Agricultural products like Lean Hogs (HE) and Live Cattle (LE) round out the CME offerings.

NYMEX Exchange Products

Energy futures form the core of NYMEX offerings, featuring Crude Oil (CL), Natural Gas (NG), and Heating Oil (HO). The exchange also includes precious metals like Platinum (PL).

COMEX Exchange Products

Metals trading dominates the COMEX lineup, with Gold (GC), Silver (SI), and Copper (HG) futures available. Both standard and micro contracts are accessible for most metals.

CBOT Exchange Products

The Chicago Board of Trade provides access to Treasury futures across various durations, from 2-Year Notes (ZT) to Ultra-Bond (UB). Agricultural products include Wheat (ZW), Corn (ZC), and Soybeans (ZS).

Trading Parameters

Several key restrictions apply to trading activities:

• Swing trading across multiple days is not permitted
• Options trading remains unavailable
• Forex trading is limited to futures contracts only
• All positions must adhere to day trading requirements

Notably, TopStep’s CTS system (T4) currently does not support micro contracts, which traders should consider when selecting their preferred platform.

What are Topstep's Reset Options ?

Trading Combine participants at TopStep need to understand how resets work, as they play a crucial role in maintaining account eligibility. A reset restores an account to its original starting balance, including the Maximum Loss Limit (MLL), Consistency Target, and trading day count.

When traders exceed the MLL during the Trading Combine, their account becomes ineligible for funding. At this point, they have two options:

• Purchase a reset, with costs varying by account size:
• $49 for 50K accounts
• $99 for 100K accounts
• $149 for 150K accounts
• Wait for an automatic reset at their monthly subscription renewal

The company implements auto-liquidation if traders hit either their Daily Loss Limit or MLL, preventing further trades for the remainder of that trading day. However, there’s an important distinction between these two scenarios:

• Breaching the MLL requires a reset to regain funding eligibility
• Hitting the Daily Loss Limit allows trading to resume the next day without needing a reset



Traders can purchase resets anytime through their Dashboard without affecting their monthly subscription date. The firm occasionally offers free resets through TopstepTV broadcasts and their newsletter, providing cost-saving opportunities for active participants.

One notable limitation is that Express Funded and Live Funded Accounts cannot be reset. Once traders reach these advanced stages, maintaining compliance with trading rules becomes even more critical.

How much are Topstep's Payouts and Withdrawals ?

What are Topstep's Trading Platforms ?

What are Topstep's Daily and Maximum Loss Limit ?

How To Get Started

The path to trading with TopStep follows a systematic approach focused on developing and validating trading skills. Rather than proceeding straight into funded trading, participants begin with the Trading Combine, a simulated environment where they can demonstrate consistent performance and risk management capabilities. This initial stage is critical for building proper trading habits and understanding the firm’s expectations.



Success in the Trading Combine leads to opportunities for real capital allocation through the Express Funded Account stage, where traders can begin earning actual payouts by maintaining disciplined trading practices. The process emphasizes steady progression rather than rapid advancement, ensuring traders develop the foundation for long-term success in the futures markets.

Trading Combine

This is the company’s initial evaluation program. TopStep designed this program to identify and develop disciplined traders. This phase requires a monthly subscription but provides a structured environment for building essential trading skills before accessing funded capital.

Account tiers and requirements

How to Manage Multiple Accounts in TopStep

TopStep allows its funded traders to operate up to five Express Funded Accounts simultaneously. This framework enables strategic diversification while maintaining clear oversight of each trading account.



The table below provides details on how this structure works:

What are TopStep’s Scaling Plans?

Key implementation guidelines:

TopStep Coaching and Resource Library

Reputation And Social Media

Is TopStep Legit?

This prop trading firm’s legitimacy is well-established through multiple verifiable metrics and operational practices. Operating since 2012, it is one of the industry’s longest-standing prop firms. The firm has funded over 8,000 traders and distributed millions in withdrawals. It maintains complete transparency about its funding process, evaluation criteria, and fee structure.

Several vital indicators support TopStep’s credibility in the prop trading space. First, the company reports an evaluation success rate of approximately 10%, demonstrating a balanced approach that maintains high standards while remaining achievable for skilled traders. This selective yet attainable threshold aligns with professional trading expectations. Second, the firm’s profit-sharing model ranks among the most competitive in the industry. It offers 100% of the first $10,000, followed by a 90/10 split afterward.

The company’s corporate infrastructure further reinforces its legitimacy. TopStep maintains robust risk management systems and provides comprehensive trader support through multiple channels. Their consistent platform improvements, like the recent introduction of TopStepX, reflect ongoing investment in trader success. Additionally, their educational resources, including TOPSTEPTV and personalized coaching, demonstrate a long-term commitment to trader development rather than a short-term profit focus.



TopStep’s reputation is most significantly validated by its extensive track record of reliable payouts and transparent operations. Its evaluation process, while rigorous, serves to identify and develop disciplined traders rather than create unnecessary barriers. This approach has earned recognition from major financial publications and sustained positive feedback from its trading community.

Comparison: Topstep Vs Other Firms

 Let’s see how Apex Trading stacks up against the competition.

TopStep Review: Final Thoughts

One of the main goals for this TopStep review was to evaluate the company’s operations and establish its suitability for those considering funded trading. After thorough analysis, the firm emerges as a strong option. The company is one of the industry’s most established and structured prop trading firms. Their approach to trader development, combining rigorous evaluation with comprehensive support systems, sets a high standard for the funded trading sector. Its longevity since 2012 and evolution of services demonstrate its adaptability to changing market demands while maintaining core risk management principles.

TopStep’s strengths lie in several key areas. For starters, its evaluation process is one of the most transparent. It features a one-step Trading Combine, which allows traders to prove their abilities without unnecessary complexity. Secondly, the profit-sharing structure indicates that the company is more inclined to build long-term relationships with funded traders. It offers 100% of initial $10,000 profits followed by a 90/10 split in subsequent trades. Add to that the dynamic scaling plan that has demonstrably improved trader longevity. This suggests a genuine commitment to sustainable trading careers rather than short-term gains.

However, those considering hooking up with the company must carefully consider certain aspects. For instance, the monthly subscription costs require careful budgeting. Also, the strict adherence to trading rules and position limits, while beneficial for risk management, may feel restrictive to some trading styles. Lastly, platform limitations, particularly after reaching funded status, require careful consideration during the initial Trading Combine phase.



Nonetheless, TopStep offers a credible solution for traders seeking a structured path to professional futures trading. Their blend of educational resources, live market analysis through TOPSTEPTV, and responsive support infrastructure create an environment conducive to trader development.