Topstep Review 2026: Trading Combine Rules, Fees and Payouts
By FX Handbook Editorial Team · Facts verified · Updated
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FX Handbook score
- $100,000 challenge fee
- $99 a month + $149 activation
- Profit split
- 90%
- Maximum loss
- $3,000 below the highest end-of-day balance, end-of-day trailing
- Platforms
- TopstepX, Quantower, TopstepX API
- Payout reliability and track record (30%)5 / 5
- Fairness of the rules (20%)3 / 5
- Cost and value (20%)4 / 5
- Platforms and trading conditions (10%)3 / 5
- Transparency and terms (10%)4 / 5
- Access and support (10%)3 / 5
Based on the firm’s published terms and information, without buying a challenge. Scored with our prop firm review methodology (version 1.0).
Not available to residents of 32 countries and territories
Afghanistan, Algeria, Angola, Belarus, Burkina Faso, Burundi, Congo - Kinshasa, Cuba, Côte d’Ivoire, Haiti, Iran, Iraq, Kenya, Kosovo, Lebanon, Libya, Mali, Morocco, Myanmar (Burma), Nicaragua, Nigeria, North Korea, Pakistan, Russia, Somalia, South Sudan, Sudan, Syria, Türkiye, Ukraine, Venezuela, Yemen.
Topstep is a Chicago futures prop firm, launched in 2012, whose Trading Combine is a monthly subscription evaluation on a simulated account. On $100K the target is $6,000 with a $3,000 end-of-day trailing loss limit, a 55% consistency target and intraday-only trading. Funded traders receive 90% of profits, with payout caps per request. Topstep publishes its pass and payout rates and does not accept residents of Turkey.
Topstep challenge rules and fees
Rules for the $100,000 account of each programme, as published by Topstep on the date shown above. Firms change their rules often; check the current terms before buying a challenge.
| Trading Combine (Standard) | Trading Combine (No Activation Fee) | |
|---|---|---|
| Fee | $99 a month + $149 activation | $149 a month, no activation fee |
| Profit target | $6,000 (6%) | $6,000 (6%) |
| Daily loss limit | None by default; an optional $2,000 limit pauses trading for the day without failing the account | None by default; an optional $2,000 limit pauses trading for the day ($20 a month cheaper) |
| Maximum loss | $3,000 below the highest end-of-day balance, locking at the starting balance (end-of-day trailing) | $3,000 below the highest end-of-day balance, locking at the starting balance (end-of-day trailing) |
| Minimum trading days | 2 in practice (55% consistency target) | 2 in practice (55% consistency target) |
| Time limit | None (subscription renews every 30 days) | None (subscription renews every 30 days) |
| Profit split | 90% | 90% |
| Notes | Futures only, intraday only (positions closed by 3:10 PM CT). Up to 10 mini contracts. | Same rules as the Standard path; the path cannot be changed after purchase. |
Who owns Topstep?
Topstep is operated by TopstepTrader, LLC (subsidiary of Topstep LLC), United States (Chicago), founded in 2012. On whether accounts are simulated, Topstep states: “realistic simulations of trading under actual market conditions”
Payout data: Topstep states "$1.4B+" paid on its homepage and "$1.5B+" on its programme page (undated, read on 3 October 2026). Its site footer gives 2025 figures of 16.8% of Trading Combines passed, 33.3% of funded traders receiving a payout and 0.71% moved to a live account. It does not say these figures are independently audited.
Is Topstep legit?
Topstep traces its history to a Chicago trading firm founded in 2010 and launched its Trading Combine in 2012. Its parent is Topstep LLC, a Delaware company based in Chicago; the Combine and Express Funded Account are run by TopstepTrader, LLC and the live accounts by TopstepFunded LLC. Its brokerage arm, Topstep Brokerage LLC, is a CFTC-registered introducing broker and NFA member (NFA ID 0567079); the prop trading companies do not claim CFTC or NFA registration.
Topstep is unusual in publishing outcome data: its site footer states that in 2025, 16.8% of Trading Combines were passed, 33.3% of funded traders received a payout and 0.71% were moved to a live account. Its payout totals (“$1.4B+” and “$1.5B+” on different pages) are undated and not independently audited: are prop firms legit?
How does the Topstep Trading Combine work?
Topstep is a futures prop firm: no forex or CFDs, and intraday trading only, with every position closed by 3:10 PM Central Time. The Combine is a monthly subscription with no time limit. On a $100K account:
- Profit target: $6,000.
- Maximum Loss Limit: $3,000, trailing the highest end-of-day balance and locking once it reaches the starting balance. It is checked in real time, including open positions.
- Daily Loss Limit: optional ($2,000). Reaching it stops trading until the next session but does not fail the account.
- Consistency target: the best day must be no more than 55% of total profit; otherwise the target rises: prop firm consistency rule.
The Topstep Maximum Loss Limit on a $100K Combine (illustrative only)
Assumptions: the account closes three days at $101,500, $100,800 and $102,500.
- Start: limit at $97,000.
- After day 1: the limit rises to $98,500.
- After day 2: unchanged at $98,500 (the limit never falls).
- After day 3: it would rise to $99,500; one more $500 of end-of-day profit locks it at $100,000.
A trader who passes moves to an Express Funded Account (XFA), which starts at a $0 balance with the same trailing limit locking at $0, and a contract limit that rises from 3 to 10 mini contracts as the balance grows. After the first payout the limit is set to $0, and breaching it closes the account permanently: prop firm drawdown rules.
How do Topstep payouts work?
Funded traders receive 90% of profits. Each payout can be up to half of the account balance, with a $125 minimum, and the trader chooses one of two paths when the XFA is activated:
- Standard: after five winning days of at least $150; capped at $3,000 per payout on $100K.
- Consistency: after three trading days with no day above 40% of profit; capped at $4,000 per payout on $100K.
Both caps double for traders who added the Daily Loss Limit when buying the Combine. Topstep may later move a funded trader to a Live Funded Account with real capital, which releases the balance in steps and, after 30 winning days, allows daily payouts.
Who can join Topstep?
US residents are accepted. Residents of about 30 countries cannot trade or receive payouts, including Turkey, Ukraine, Russia, Nigeria, Pakistan, Kenya and Morocco; residents of another group of countries can trade the XFA but not move to a live account, with total payouts limited to $200,000.
Topstep pros and cons
Pros
- Publishes pass, payout and live-account rates
- Operating since 2012 from Chicago; brokerage arm registered with the CFTC and NFA
- No daily loss limit that fails the account; no time limit
- 90% profit split
Cons
- Futures only and intraday only; no overnight holding
- End-of-day trailing loss limit and a 55% consistency target
- Monthly subscription until the Combine is passed
- Not available in Turkey and about 30 other countries; payout caps per request
The rules above are Topstep’s published terms for the $100K Trading Combine on 3 October 2026; check the current terms before subscribing.
Alternatives to Topstep
Other prop firms we have reviewed with the same methodology, ranked by score.
Comparisons and rankings
Frequently asked questions
Is Topstep legit?
Topstep has run its Trading Combine since 2012 from Chicago, through US companies named in its terms, and publishes its pass and payout rates. Its brokerage arm is a CFTC-registered introducing broker and NFA member; the prop trading entities do not claim such registration, and the Combine and Express Funded accounts are simulated.
How much does the Topstep 100K Combine cost?
$99 a month plus a one-time $149 activation fee on the Standard path, or $149 a month with no activation fee, according to Topstep on 3 October 2026. The subscription renews every 30 days until you pass or cancel.
How does the Topstep Maximum Loss Limit work?
It starts $3,000 below the starting balance on a $100K Combine, rises with the end-of-day balance and never falls, and locks once it reaches the starting balance. It is checked in real time, including open positions.
What is the Topstep consistency target?
The best day must be no more than 55% of total profit. If it is higher, the profit target rises to the best day divided by 0.55, so a Combine cannot be passed in one day.
Can traders from Turkey join Topstep?
No. Turkey is on Topstep's list of ineligible countries, together with Ukraine, Nigeria, Pakistan, Kenya, Morocco and others.
Sources
Regulatory and official sources
- Topstep terms of use (last updated 21 September 2026), Topstep
- Topstep programme page, Topstep
- Pricing and payment questions, Topstep
- Trading Combine parameters, Topstep
- What is the Maximum Loss Limit?, Topstep
- Topstep payout policy, Topstep
- Eligibility FAQ (who is eligible to participate), Topstep
- Topstep Brokerage LLC (NFA ID 0567079), National Futures Association