Established in 2012, Topstep is a prop firm focused on futures trading. This company mentions its +12 years of history as a strength, in addition to holding +47K funded accounts in August 2024.
What about the quality of its services and features? In this article, you will read a comprehensive Topstep review.
Topstep Company Information and Specifics
Topstep (Formerly TopstepTrader) was founded in July 2012 as a Limited Liability Company (LLC) by CEO Michael Patak. Based in Chicago, Illinois, United States, this company is one of the oldest prop trading firms in the financial industry.
Topstep prop firm review for futures markets' traders
Topstep's mission is to turn people who trade into better traders with healthier habits through learning by doing. Their vision is to be the path to a better lifestyle for traders worldwide.
Key Specifications
Let's have a look at the general key features that are related to the prop firms, including the Topstep:
Account Currency | USD, AUD, CAD, COP, GBP, JPY, EUR, MXN |
Minimum Price | $49 (Monthly) |
Maximum Leverage | 1:100 |
Maximum Profit Split | 100% |
Instruments | Forex Futures |
Assets | Not Specified |
Evaluation Steps | 1 |
Withdrawal Methods | Wise, ACH, International Wire/SWIFT |
Maximum Fund Size | $150K |
First Profit Target | 6% |
Max. Daily Loss | None |
Challenge Time Limit | None |
News Trading | Allowed |
Maximum Total Drawdown | 4% |
Trading Platforms | TopstepX, NinjaTrader, Quantower, etc. |
Commission Per Round Lot | From $0.24 |
Trustpilot Score | 4.6/5 |
Payout Frequency | Daily |
Established Country | United States |
Established Year | 2012 |
Benefits & Drawbacks
As with any trading opportunity, Topstep comes with its own set of advantages and potential drawbacks. Let's examine both sides of the coin:
Drawbacks | Benefits |
Monthly Subscription Fees | Fast Funding in Only 2 Days |
Lower Maximum Allocation | Generous Profit Split |
Limited to Futures Trading | Comprehensive Education |
- | Premium Trading Features |
Funding and Prices Overview
Funding can be considered one of the most vital parts of a prop firm, as it is the main motivation for traders. Topstep Funding and Account Fees:
- Trading Combine Subscription: Monthly fees range from $49 to $149, depending on account size (Also, there's a $149 activation fee upon passing)
- Funding Process: Pass the Trading Combine to earn a funded account
- Account Sizes: From $50K to $150K
The funding for this prop firm is low compared to most companies.
Evaluation Stage
Topstep's evaluation process, known as the Trading Combine, is a single-step program designed to test traders' skills and discipline. Here's the rules and the parameters in the evaluation phase:
$50K | $100K | $150K | |
Monthly Price | $49 | $99 | $149 |
Profit Target | $3,000 | $8,000 | $9,000 |
Max. Position Size | 5 Contracts | 10 Contracts | 15 Contracts |
Max. Loss Limit | $2,000 | $3,000 | $4,500 |
Promotions; Does Topstep Offer Any Bonuses?
Based on our examinations and research, unfortunately the firm does not currently offer any bonus for traders. However, this might change in the future.
Always check the official resources to be informed about the newest offers.
Topstep Tradable Symbols and Markets
The firm focuses exclusively on futures trading, offering a wide range of products across various markets:
- CME Equity Futures: E-mini S&P 500, E-mini NASDAQ 100, E-mini Russell 2000
- CME Foreign Exchange Futures: Australian Dollar, British Pound, Euro FX, and more
- CME Agricultural Futures: Lean Hogs, Live Cattle, and others
- CME NYMEX Futures: Crude Oil, Natural Gas, and additional energy products
- Micro Futures: Select micro contracts available on the TopstepX platform
Payment and Withdrawal Methods Overview
There are several ways you can receive your Topstep payouts through. These methods include:
- Wise: Crypto and fiat transfers
- ACH: Bank-to-bank electronic payments
- Other: International Wire/SWIFT
For paying the fee on Trading Combine accounts, you have these options:
- Visa
- Mastercard
- American Express
- Discover
- PayPal
Commission & Fees
Trading commission can be so important for calculating your profits. Actually, the costs on Topstep vary based on the asset and the platform's data provider, but overall, it starts from $0.24, round-turn.
You can check out the fee for some symbols here:
- Gold: From $3.24
- Silver: From $3.24
- AUD: From $4.72
- E-mini NASDAQ 100: From $2.80
Complete list of fees for each symbol is accessible on the official website.
Trust Ratings on Reputable Websites
Users evaluate brokers and prop firms on reputable websites such as the Trustpilot. Topstep Trust Scores on the Mentioned Website:
- 4.6 out of 5;
- More than 5,700 reviews;
- Over 80% of scores are 5-star.
Based on the volume of reviews, we can say that the firm has a strong reputation in the financial industry.
Customer Support
Support section is one of the most significant factors in every financial firm. Topstep offers typical contact channels for its support department:
- Live chat: through the website
- Phone Number: +1 (888) 407-1611
- Email: support@topstep.com
Unfortunately, the prop firm does not offer 24/7 customer services, and the support works only on weekdays.
Social Media Channels
Social media platforms are popular facilities for companies to post updates about their activities. Topstep's Social Accounts:
- Discord: https://discord.gg/topstep
- Facebook: https://www.facebook.com/TopstepOfficial
- Twitter: https://twitter.com/Topstep
- YouTube: https://www.youtube.com/c/TopstepOfficial
- Instagram: https://www.instagram.com/topstep/
- Linkedin: https://www.linkedin.com/company/topstep
Engaging with these channels can help traders stay informed, learn new strategies, and connect with the broader Topstep community.
Expert Suggestions
Topstep is a prop firm specialized in futures trading. Operating since 2012, this American company offers features such as 1-step evaluation, funding in 2 days, profit split up to 100%, and more.
Although, like other futures prop firms, it charges a monthly fee for accounts and does not offer the highest maximum funding, it could be a suitable and trustworthy firm for futures clients.
