# Topstep Explained (2026): Trading Combine Costs, Rules and Payouts, With No Affiliate Link

> Topstep is the oldest futures prop firm still running (Chicago, 2012). Trading Combine from $49 a month plus a $149 activation fee, or $95 a month with no activation fee; 6% target, trailing Maximum Loss Limit, 55% consistency, 90/10 split. Scored 81.1/100 (A-). No discount code and no affiliate link: standard prices.

**Source:** https://propfirmito.com/topstep-review/  
**Last modified:** 2026-11-05

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**TL;DR:** Topstep is the oldest futures prop firm still running, founded in Chicago in 2012 by Michael Patak. It sells one evaluation, the Trading Combine, as a monthly subscription: $49, $99 or $199 a month for $50K, $100K or $150K on the Standard path (plus a $149 activation fee when you pass), or $95, $149 or $229 a month with no activation fee. You need a 6% profit target, you must never touch a trailing Maximum Loss Limit, and your best day has to stay at or below 55% of the target. Funded traders keep 90%, and US traders can be paid in seconds through Aeropay. We rate it with a **Propfirmito Score: 81.1/100 (A−)**, #6 of the 15 futures firms we score. There is no discount code and no affiliate link on Propfirmito for Topstep: the prices in this review are the standard ones.

## The setup: why this review exists

Topstep gets reviewed a lot, and most of those reviews were written to sell you something. This one can't be. Propfirmito has no Topstep affiliate link and no Topstep code, so nothing here changes the price you pay, and we earn nothing if you sign up. That makes it a good moment to look at the firm the way a trader should: what it costs over a realistic number of months, what the rules actually say, and where the money gets stuck.

For this review I read Topstep's pricing page in both billing paths, the Express Funded and Live Funded rules pages, the terms of use, and about twenty help-center articles: Combine parameters, consistency, the payout policy, activation, refunds, the daily loss limit, products and hours, prohibited conduct, hedging, platform notes and the eligibility list. Every figure below comes from those pages, checked on October 30, 2026. Where two Topstep pages disagree, I say so.

One thing to know before the numbers. Topstep changed its pricing structure this year. The Combine now comes in two billing paths, the consistency target moved from 50% to 55%, and the old NinjaTrader and Tradovate options are gone: everything runs on Topstep's own platform, TopstepX. If you read a Topstep review from 2025, half of it is out of date.

## What Topstep actually is (and what it isn't)

Topstep is a group of companies, not one. Topstep LLC is the parent, with its office on South Jefferson Street in Chicago. The simulated programme, meaning the Trading Combine and the Express Funded Account, is run by TopstepTrader, LLC. Live funded trading on the firm's own capital is run by TopstepFunded LLC, an Illinois company. The group also owns Topstep Brokerage, an introducing broker registered with the CFTC and a member of the NFA, and TopstepTV, a streaming channel with daily coaching. The platform, TopstepX, belongs to ProjectX Trading LLC.

The programme has three stages. You buy a Trading Combine and prove you can hit a profit target without breaching a loss limit. You then activate an Express Funded Account, which starts at a $0 balance but carries the full buying power of the size you passed; profits there are simulated, but the payouts are real money. If you keep taking payouts and trading consistently, the risk team can call you up to a Live Funded Account on Topstep's capital, where payouts have no cap.

It is not a CFD or forex firm. Topstep is futures only: CME, CBOT, NYMEX and COMEX products, minis and micros, and nothing else. It is also not a swing-trading firm. Every position has to be flat by 3:10 PM Central Time, every day, with no exceptions for weekends.

And it is unusually open about its numbers. The site publishes 2025 statistics most firms would rather not: 16.8% of Trading Combines started were passed, 51.8% of people who tried passed at least one, a third of funded participants received a payout, and 0.71% of Express Funded traders were called up to Live. Read that last figure twice before you plan your career around the live account.

## What the Trading Combine costs and what it asks of you

There is one evaluation in three sizes, and the rules are the same on both billing paths. The paths differ only in how you pay.

| Item | $50K | $100K | $150K |
| --- | --- | --- | --- |
| **Standard path, per month** | $49 | $99 | $199 |
| **Standard path, activation fee when you pass** | $149 | $149 | $149 |
| **No Activation Fee path, per month** | $95 | $149 | $229 |
| **No Activation Fee path with a Daily Loss Limit added** | $85 | $129 | $199 |
| **Profit target** | $3,000 | $6,000 | $9,000 |
| **Maximum Loss Limit (trailing, end of day)** | $2,000 | $3,000 | $4,500 |
| **Optional Daily Loss Limit** | $1,000 | $2,000 | $3,000 |
| **Max contracts** | 5 minis / 50 micros | 10 minis / 100 micros | 15 minis / 150 micros |
| **Reset** | same as the monthly price | same as the monthly price | same as the monthly price |

Standard prices as listed on topstep.com on October 30, 2026. The subscription rebills every 30 days until you pass or cancel; taxes are added at checkout where applicable.

The two objectives are a 6% profit target and a consistency target. The consistency target says your single best day cannot exceed 55% of the profit target. On the $50K that means no single day above $1,650. Go over and the target goes up: Topstep divides your best day by 0.55 and that becomes the new number you need. There is no buffer and no rounding. The practical effect is that you cannot pass in one day, however good it is; two is the minimum.

The one rule is the Maximum Loss Limit. It trails your highest end-of-day balance, so a strong day pulls it up and a losing day does not pull it back down. Hit it and the Combine is over until you reset. The Daily Loss Limit is optional in the Combine: add it at checkout and it is fixed, it follows you into the Express Funded Account, and hitting it is a forced break for the session rather than a breach.

There is no time limit. The subscription simply keeps billing every 30 days until you pass or cancel, and each rebill drops a free Reset Credit into your account. That is both the convenience and the trap of a subscription model. A trader who takes four months to pass a $100K Standard Combine has paid $396 before the $149 activation, which is a very different number from the $99 on the card.

## The two paths, worked out

Which path is cheaper depends entirely on how many months you expect to need. On the $50K, the Standard path costs $49 a month plus $149 once; the No Activation Fee path costs $95 a month and nothing when you pass. Pass in month one and Standard costs $198 against $95. Pass in month three and it is $296 against $285. By month four the No Activation Fee path is cheaper on every size.

Topstep's own framing is honest about this: Standard is "built for traders still learning", the other path for "disciplined traders" who expect to pass in one or two attempts. Add the Daily Loss Limit to the No Activation Fee path and the price drops another $10 to $30 a month, with a second benefit that matters later: your Express Funded payout caps double.

Paths cannot be changed after purchase, and nothing is refunded once you pass. Topstep does give first-time buyers a 14-day satisfaction guarantee worth up to one monthly payment, and will refund an untouched accidental rebill within 28 days. Resets, the $149 activation fee and Back2Funded reactivations are never refunded.

## What they got right

**The payout policy is written down, in full.** Express Funded traders pick a path when they activate. Standard: five winning days of $150 or more, then request 50% of the balance up to $2,000, $3,000 or $5,000 depending on size. Consistency: three trading days with the best day at or below 40% of total profit, then up to $3,000, $4,000 or $6,000. The minimum payout is $125, the split is 90/10, and the caps double if you added a Daily Loss Limit when you bought the Combine. Methods, fees and processing times are all published: Aeropay for US bank accounts is free and averages under nine seconds after approval, Wise serves China, Canada and the UK for free, ACH and international wires cost $30.

**A real road to live capital.** Most futures prop firms stop at the simulated funded account. Topstep publishes what happens after: a Live Funded Account sized by your Express accounts, 20% of your transferred balance available immediately, the rest unlocked in 25% steps as you hit profit milestones, no payout caps, daily payouts after 30 winning days, and a monthly bonus pool of $250,000 through the Topstep Octagon.

**Automation is allowed, with conditions.** Topstep's answer to "can I use automated strategies" is yes, with the caveats that support will not help you set them up and that no exceptions are made for a bot that misbehaves. TopstepX has an API for the simulated environment and a built-in trade copier across your own accounts, up to five Express Funded Accounts and $750,000 of buying power. Unfair technology and strategies that exploit simulated fills are banned, which is reasonable.

**News trading is allowed.** The only news rule is a ban on trading your full maximum position size straight into a scheduled major release. For a futures firm that is light-touch.

**Longevity and a brokerage licence in the group.** Fourteen years in business, a named founder who still runs the company, and an NFA-registered introducing broker under the same parent. None of that guarantees anything, but it is more corporate substance than most prop firms can show.

## What's strange or annoying

**The Trustpilot profile.** Topstep sits at 3.7 out of 5 across 15,044 reviews, and the split is the interesting part: 70% five-star and 19% one-star. That is the shape of a firm that a lot of people love and a smaller, angry group feels let down by, usually over payouts or rule enforcement. We score review volume and rating together, and this profile costs Topstep points on the trust pillar.

**Express Funded payouts are capped.** $5,000 per request on a $150K account is not a lot if you are good, and the caps only go away on Live. Topstep's own line is that the Express Funded Account "isn't where you run up stats". That is fair, but it means the simulated stage is designed to move you along rather than to pay you much.

**Day trading only.** Flat by 3:10 PM CT, markets reopen at 5 PM CT, no weekend positions, and CBOT grains and livestock keep their own shorter sessions. If your strategy holds overnight, there is nothing for you here.

**Hedging between accounts is policed in real time.** Hold opposite positions in two accounts and you get a warning window, then automatic liquidation, then a required acknowledgement before you can trade again. Trade copiers that create brief opposite positions are not excused.

**Two Topstep pages disagree on the Back2Funded window.** Back2Funded lets you reactivate a lost Express Funded Account up to twice, for $599, $699 or $829 by size, if you lost it before your first payout. The Express Funded rules page says you have seven calendar days to decide; the pricing FAQ says thirty. Trust the window shown in your dashboard.

**Inactivity.** Express Funded and Live accounts with no trade for more than 30 days may be closed, and you cannot pause them.

## Restricted countries

Topstep checks both citizenship and residency. Citizens or residents of 32 countries and regions cannot trade at all: Afghanistan, Algeria, Angola, Belarus, Burkina Faso, Burundi, Côte d'Ivoire, Cuba, the Democratic Republic of the Congo, Haiti, Iran, Iraq, Kenya, Kosovo, Lebanon, Libya, Mali, Morocco, Myanmar, Nicaragua, Nigeria, North Korea, Pakistan, Russia, Somalia, South Sudan, Sudan, Syria, Turkey, Ukraine (including Crimea and the occupied regions), Venezuela and Yemen.

A second list of 25 countries can trade and take Express Funded payouts up to $200,000 in total, but cannot receive a Live Funded Account because Topstep's brokerage partners do not serve them. Germany is on that list, which will surprise some European readers, along with Hong Kong, Iceland, Kuwait, Monaco, Serbia, Vietnam and others. US traders are accepted, and Canadians trade on a US-based sub-account. Trading from inside a restricted country while travelling can trigger a review.

## Who I'd tell to skip Topstep

Anyone whose edge needs overnight positions. Anyone who wants a discount code before they buy, because there isn't one we can offer. Traders who hate subscriptions and would rather pay a one-time fee with a time limit. Traders who want to pull $10,000 a month out of a simulated account; at Topstep that only happens on Live. And anyone whose strategy relies on holding a full-size position through the non-farm payrolls, which is the one news trade Topstep prohibits.

## Frequently asked questions

### Is there a Topstep discount code?

Not on Propfirmito. We have no Topstep code and no Topstep affiliate link, so the prices in this review are the standard ones. Topstep gives its own traders 15% referral codes and selected affiliates 20% codes for a first purchase, and its Responsible Trading Advantage takes $10 to $30 a month off the No Activation Fee Combine when you add a Daily Loss Limit at checkout.

### How much does the Topstep Trading Combine cost?

$49, $99 or $199 a month for $50K, $100K or $150K on the Standard path, plus a one-time $149 activation fee for each Express Funded Account you earn. On the No Activation Fee path it is $95, $149 or $229 a month, or $85, $129 or $199 with a Daily Loss Limit, and nothing when you pass.

### Can I pass the Topstep Combine in one day?

No. Your best day must stay at or below 55% of the profit target, so you need at least two profitable days. There is no maximum number of days and no time limit.

### What is the Topstep profit split?

90/10 at every stage. Express Funded payouts are capped per request; Live Funded payouts are not.

### Does Topstep allow automated trading and copy trading?

Automated strategies are allowed with conditions in the Trading Combine and Express Funded Account, and are not available on the Live Funded Account. The TopstepX trade copier mirrors a lead account to your other accounts. Coordinated trading with other people and cross-account hedging are prohibited.

### Is Topstep available in the US?

Yes. Topstep is a US company and US residents are accepted. US traders also get the fastest payout method, Aeropay, which delivers approved payouts to a US bank account in seconds.

### Which platform does Topstep use?

TopstepX, Topstep's own browser platform with TradingView charts, a depth-of-market ladder, personal risk settings and API access. Quantower can connect with your TopstepX credentials. Level 1 data is included; Level 2 costs $38 a month.

## My verdict

Topstep is the benchmark the rest of the futures prop industry is measured against, and after reading its rules in full I understand why. One evaluation, no time limit, a sane consistency rule, automation allowed, news allowed, a written payout policy and a published path to real capital. The costs are the subscription itself, which rewards people who pass fast and quietly punishes people who don't, the capped Express Funded payouts, and a Trustpilot profile with a loud unhappy minority.

Our score is 81.1 out of 100, an A−, which puts Topstep #6 of the 15 futures firms we track. It would be higher with a cheaper route to funding and a cleaner review profile. If you are a futures day trader who can pass in a month or two and you are in the US, it is a very reasonable place to start. If you need a discount to make the maths work, we can't help you with this one.

**Sources:** topstep.com (pricing, Express Funded and Live Funded rules, terms of use, instant payouts, about and team pages) and help.topstep.com (Combine parameters, consistency, payout policy, activation, refunds, daily loss limit, products and hours, prohibited conduct, hedging, TopstepX, eligibility), all read on October 30, 2026; trustpilot.com/review/topstep.com for the rating and review count.

**Related on Propfirmito:** the [Topstep overview](https://propfirmito.com/topstep/) with the full rule tables, the [Topstep offer page](https://propfirmito.com/topstep-discount-code/) , the [Topstep discount code page](https://propfirmito.com/topstep-discount-code/) (spoiler: there isn't one), the [Find Your Prop Firm](https://propfirmito.com/find-your-prop-firm/) matcher and our [methodology](https://propfirmito.com/our-methodology/) . Errors are logged on the [corrections page](https://propfirmito.com/corrections/) .

**Last verified:** October 30, 2026.