Topstep: The Futures Prop Firm in Brief

Topstep: The Firm in Brief

By PropTrader1 2 min read Published October 28, 2026

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Keep up to 90% of your profits. Start from €79.

Rewards up to 90% — the 1-Step pays from day one.
2-Step fee refunded in full with your first reward.
$650M+ paid to 4.5M+ traders — the 11-year standard.

Get the latest discount (affiliate link)

Topstep is the benchmark futures prop firm: a Trading Combine evaluation on simulated CME markets, monthly subscriptions of $49/$99/$199 at 50K/100K/150K, then a $149 activation on the Express Funded Account. Topstep states $1.5B+ paid out to traders all time (its own figure, checked 28 October 2026).

The rule shape: profit targets $3,000/$6,000/$9,000; an end-of-day trailing Maximum Loss Limit that stops trailing once it reaches your starting balance; a best-day cap below 55% of the profit target; every position flat by 3:10pm CT. Payouts: 90/10, on request after 5 winning days of $150+, minimum $125, per-request caps of $2,000-$5,000 that double with the daily-loss-limit add-on; the Live Funded Account stage pays uncapped.

Cost dynamics: cheaper than FTMO Futures if you pass within roughly two months, dearer after - the crossover logic is worked through in FTMO vs Topstep. The wider category: the futures hub.

Topstep's own risk disclosures describe its simulated and live entities in detail.

Part of the firm cluster and the full prop firm glossary.

Frequently Asked Questions

Why is a 50% drawdown harder to recover than a 10% one?

A 50% drawdown requires a 100% gain to recover, while a 10% drawdown only needs 11.1%. Recovery math is exponential. At 30% drawdown you need 42.9% to break even. This is why prop firms cap drawdown at 10-12% rather than higher percentages.

What is the 3-5-7 rule in forex?

The 3-5-7 rule suggests risking 1-3% per trade, keeping total open risk at 5% or less, and limiting single market exposure to 7%. It is a general risk guideline, not a prop firm rule, but following it naturally keeps you within most max drawdown limits.

What is a good maximum drawdown?

For prop firm trading, keeping your actual drawdown under 5% is excellent. Most firms allow 10-12%, but staying well below the limit demonstrates strong risk management and gives you a buffer for unexpected market events.

Is maximum drawdown calculated on balance or equity?

It depends on the firm and drawdown type. Static drawdown is typically calculated on starting balance. Trailing drawdown follows your highest equity. Some firms include floating losses in their calculation, making equity the relevant measure.

What happens when you breach maximum drawdown?

Breaching maximum drawdown results in immediate and permanent account closure. All positions are closed automatically, the challenge is terminated, and there is no refund or appeal. It is the final rule with no second chances.

What is the difference between daily drawdown and maximum drawdown?

Daily drawdown resets every day and limits your loss within a single session. Maximum drawdown is cumulative across the entire challenge or funded period. You can breach max drawdown through many small daily losses that accumulate over time.