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Topstep is one of the most established prop firms in the trading industry, especially for those interested in futures trading. Founded in 2012, Topstep has helped thousands of traders get funded without risking personal capital. But is it still worth it in 2025? Here’s our in-depth review.

1. What Is Topstep?

Topstep is a proprietary trading firm that offers traders the opportunity to prove their skills in a simulated environment and earn access to real funded accounts. Unlike most forex-focused prop firms, Topstep specializes in futures – particularly markets like the E-mini S&P 500, crude oil, and treasuries.

2. Key Features

Topstep stands out with a range of specialized features tailored specifically for futures traders. Here are the key highlights that make Topstep one of the top choices in the prop trading industry:

• ✅ Futures-Only Prop Firm
  Topstep focuses exclusively on the futures market, primarily trading major contracts like the E-mini S&P 500, Crude Oil, and Treasury Bonds. This specialization allows Topstep to provide a highly optimized and precise environment for futures traders, unlike many other prop firms that focus on forex or CFDs. If you’re a futures trader, Topstep offers one of the most dedicated and professional platforms available.

• ✅ Two-Step Evaluation Process (Trading Combine + Funded Account)
  Instead of funding traders immediately, Topstep requires candidates to pass a rigorous two-step evaluation:

  • Trading Combine: This is a simulated trading environment where traders prove their ability to generate consistent profits while managing risk within predefined rules. Traders must meet profit targets, adhere to daily loss limits, and follow strict guidelines to pass.

  • Funded Account: Upon passing the Combine, traders receive a real funded account to trade live capital. This phase is closely monitored to ensure the trader continues to follow risk management protocols and maintain performance standards.

• ✅ No Time Limits to Pass
  One of Topstep’s biggest advantages is that traders are not pressured by time constraints during the evaluation. You can take as long as needed to pass each phase, allowing you to learn, adapt, and refine your trading strategy at your own pace. This flexible timeline suits both beginners and experienced traders who want to improve steadily.

• ✅ Profit Sharing Model (Payouts via Profit Splits)
  Topstep offers an attractive profit split structure designed to reward successful traders. You keep 100% of the first $5,000 in profits, which provides strong initial motivation. After reaching that threshold, profits are split 80/20 — with 80% going to the trader and 20% to Topstep. This fair model encourages consistent profitability and long-term trading success.

• ✅ Strict Risk Management Rules
  Topstep enforces strict risk management policies to protect company capital and encourage disciplined trading. Important rules include:

  • Daily loss limits that prevent excessive drawdowns during a single trading day.

  • Maximum loss limits that cap total allowable drawdowns over the evaluation period.

  • Restrictions on the number of open positions, types of contracts, and trading hours.
    These rules force traders to focus on capital preservation and risk control, fostering sustainable trading habits.

• ✅ Comprehensive Educational Resources and Coaching
  Topstep provides a wealth of educational materials, live coaching sessions, and webinars designed to help traders understand futures markets and improve their skills. These resources are especially valuable for newer traders or anyone looking to deepen their market knowledge and trading strategies.

• ✅ Trading Platform Flexibility
  Topstep supports multiple popular trading platforms, including NinjaTrader, TradingView, and MultiCharts, giving traders the freedom to choose the software that best fits their trading style and preferences.

3. Account Sizes & Pricing

Resets are available for a fee if rules are violated.

4. Pros of Topstep

• ✅ Reputable & Regulated: Over a decade of experience with strong trader support.

• ✅ Excellent for Futures Traders: One of the few firms dedicated solely to futures.

• ✅ No Time Pressure: Flexible timeframes reduce stress.

• ✅ Clear Risk Management Rules: Builds solid trading discipline.

5. Cons of Topstep

• ❌ Not for Forex or CFD Traders: Only offers futures.

• ❌ Monthly Fees: Costs can add up if you take a long time to pass.

• ❌ Strict Rules: Mistakes can lead to resets.

6. Who Should Use Topstep?

Topstep is perfect for:

• Traders focused on futures markets.

• Those wanting a structured, rule-based environment.

• Individuals looking for a reputable and long-standing prop firm.

If you’re a forex or crypto trader, look elsewhere. But if you’re serious about futures, Topstep is a top-tier option.

7. Conclusion

Topstep remains one of the most reputable and trusted proprietary trading firms in the futures trading world in 2025. Its long history, having operated since 2012, demonstrates a proven track record of supporting and funding talented traders globally. For those who specialize in futures markets, Topstep offers a uniquely focused and professional environment designed to nurture skill, discipline, and consistency—three essential traits for long-term trading success.

One of the biggest strengths of Topstep is its structured, two-step evaluation process that balances opportunity with accountability. The Trading Combine challenges traders to meet realistic profit targets while strictly managing risk, which builds strong habits before accessing live capital. Once funded, traders continue to benefit from clear rules and risk controls that encourage steady growth without reckless risks.

Another major advantage is Topstep’s profit sharing model, which rewards traders generously, especially during their early profitable phases. The fact that traders keep 100% of their first $5,000 in profits is a significant motivator, providing both financial and psychological incentives to push forward. The ongoing 80/20 split afterward remains competitive in the prop firm industry and ensures alignment between the trader’s success and the company’s.

However, it’s important to note that Topstep is not for everyone. Its futures-only focus means forex, stocks, or crypto traders will need to look elsewhere. Additionally, the monthly subscription fees for the Combine can add up, especially for traders who need time to refine their strategies. The strict rules can also be challenging for some, but they ultimately serve to protect capital and develop professional trading discipline.

In summary, if you are a serious futures trader looking for a well-established, transparent, and professionally run prop firm, Topstep should be at the top of your list. Its educational resources, flexible timelines, and risk management framework make it a solid platform for building a funded trading career. With commitment, discipline, and the right mindset, Topstep offers one of the best pathways to trade with company capital while keeping the majority of your profits.

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