Topstep is a futures prop trading firm based in Chicago.
In this article, you’ll get a review of this prop firm, including instructions about the challenges and how to pass them to get funded with a Topstep Funded account.
Here’s what you’re going to learn:
- What Is Topstep And What Does It Offer
- Topstep Trader Reviews
- Topstep Combine
- Topstep Combine Step 1 – Rules and Targets
- Topstep Combine Step 2 – Rules and Targets
- Topstep Scaling Plan
- Topstep Funded Account Rules
- Topstep Swing Trading Combine
- Is Topstep Legit
- Topstep Customer Service
- Topstep Withdrawal
- Topstep Platforms
- Here’s What You Learned Today
- Learn More
Let’s start.
What Is Topstep And What Does It Offer
Topstep is a Futures prop firm located in Chicago, Illinois, USA, founded in 2010.
What can you trade with Topstep?
Topstep is a prop firm dedicated to Futures trading.
Here’s a list of the assets that you can trade with their accounts:
- Equity Futures
- Foreign Exchange Futures
- Agricultural Futures
- Oil and Natural Gas Futures
- Financial/Interest Rate Futures
- Metals Futures (Gold, Silver, and Copper)
What are the Topstep account sizes?
Topstep has three funded account sizes and each one has a different cost.
- $50k (buying power): $165/month
- $100k (buying power): $325/month
- $150k (buying power): $375/month
How much is the Topstep profit split?
The Topstep profit split is variable. Initially, all the profit goes to the trader, so there’s no split which is great. Only later Topstep starts to keep 10% of the profit for them which is also very good considering that a lot of prop firms keep 20% of the profit if not more.
- 100% profit split: For the first $5,000 in earnings
- 90% profit split: After you receive the first $5,000
Topstep Trader Reviews
According to Trustpilot, Topstep Trader has a quite good rating in terms of reviews.
After 1,500+ reviews, the rating is 4.5/5.0, which is very good.
Topstep Combine
The Topstep Combine is the challenge that Topstep requires you to pass to give you access to a funded account.
The challenge has two steps.
Here are all the details of the Topstep Combine for each step.
Topstep Combine Step 1 – Rules and Targets
During the Topstep Combine step 1, you have two main targets to meet:
- Minimum profit target: You need to reach a minimum profit target, depending on the account that you are trading.
- Minimum trading days: You need to trade for at least 5 days
Here’s what’s the minimum profit target that you need to achieve in step 1 Topstep Combine depending on the account that you are applying to:
| TRADING COMBINE STEP 1 | $50k account (buying power) | $100k account (buying power) | $150k account (buying power) |
|---|---|---|---|
| Profit target | $3,000 | $6,000 | $9,000 |
| Maximum Position Size | 5 contracts | 10 contracts | 15 contracts |
| Daily Loss Limit | $1,000 | $2,000 | $3,000 |
| Trailing Max Drawdown | $2,000 | $3,000 | $4,500 |
To achieve the targets mentioned above, you also need to follow some rules while trading in this step of the Trading Combine.
- Allowed time to trade: You need to close all positions before the end of the allowed time to trade, so beware of when does the stock market close. According to this rule, you cannot have anything open between 3:10 PM and 5:00 PM (CT time)
- Daily Loss Limit: You cannot exceed the Daily Loss Limit, according to the table above.
- Trailing Max Drawdown: Your account balance can’t hit the Trailing Max Drawdown, according to the table above.
Topstep Combine Step 2 – Rules and Targets
When trading step 2 of the Topstep Trading Combine the rules and targets change slightly from the previous step.
Here are the targets:
- Minimum profit target: The targets are the same as step 1
- Minimum trading days: There’s no minimum in this step
- Consistency target: Your best day cannot exceed 40% of all profits made
To achieve this target you need to follow some rules:
- Allowed time to trade: Same rule as step 1, you need to close all positions before the end of the allowed time to trade. You cannot have anything open between 3:10 PM and 5:00 PM (CT time)
- Daily Loss Limit: Same rule as step 1, you cannot exceed the Daily Loss Limit, according to the table above.
- Trailing Max Drawdown: Same rule as step 1, your account balance can’t hit the Trailing Max Drawdown, according to the table above.
- Scaling plan: The Topstep scaling plan is the rule that limits the maximum number of lots or contracts that you can trade depending on your account size. More about this is below.
Topstep Scaling Plan
The number of lots/contracts on the scaling plan is just the maximum number of lots that you can trade according to your account size. You are not required to trade this amount, you can trade a smaller number of contracts if you desire.
The scaling plan is updated at the end of each trading session. This means that if you eventually achieve an account balance that allows you to trade a bigger number of contracts, you need to wait for the next trading session to do so.
Here’s how it works for each account size:
$50,000 Account
| Account Balance | Max Number of Contracts |
|---|---|
| Less than $51,500 | 2 |
| Between $51,500.1 – $52,000 | 3 |
| Above $52,000.01 | 5 |
$100,000 Account
| Account Balance | Max Number of Contracts |
|---|---|
| Less than $101,500 | 3 |
| Between $101,500.1 – $102,000 | 4 |
| Between $102,000.01 – $103,000 | 5 |
| Above $103,000.01 | 10 |
$150,000 Account
| Account Balance | Max Number of Contracts |
|---|---|
| Less than $151,500 | 3 |
| Between $151,500.1 – $152,000 | 4 |
| Between $152,000.01 – $153,000 | 5 |
| Between $153,000.01 – $154,500 | 10 |
| Above $154,500.01 | 15 |
Topstep Funded Account Rules
Once you pass the Topstep Combine, you’ll finally get access to your desired funded account with real money to trade.
This account comes with a set of rules to follow, and they are the exact same that you had during step 2 of the Trading Combine.
Not that you don’t have targets anymore once you get a Topstep funded account. You just need to follow the same basic risk management rules:
- Trade only during the allowed time to trade
- Respect the daily loss limit
- Respect the trailing max drawdown
- Don’t exceed your lot size according to the scaling plan
Topstep Swing Trading Combine
In the past, it was possible to purchase a Swing Trading Combine, but unfortunately, it’s not available anymore.
Is Topstep Legit
Yes, Topstep is a legit company.
Here are the contacts to reach them:
Email: support@topstep.com
Phone: (888) 407-1611
Address: 141 West Jackson Boulevard, Suite #4240, Chicago, Illinois 60604
Topstep Customer Service
Topstep customer service is one of the most positive aspects of the company, according to their reviews.
To contact Topstep customer service use these contacts:
Customer service email: support@topstep.com
Customer service phone: (888) 407-1611
Support Hours (Monday – Friday): 7AM – 6PM CT
WhatsApp hours (Monday – Friday): 8AM – 5PM CT
Topstep Withdrawal
Topstep partnered with Deel to allow withdrawals of the payments using different methods.
You can withdraw from Topstep using any of these methods:
- Bank transfer
- Paypal
- Coinbase
- Binance
- Payoneer
- Revolut
- Wise
- Instant Card Transfer
- Deel Card
The time that each withdrawal takes will depend on the method chosen.
Here’s how much time you can expect to wait after you ask for a withdrawal:
- Paypal, Coinbase, Binance, Payoneer, Revolut: Withdrawal completed in up to one business day
- Local bank transfer: Withdrawal completed between one to five business days
- Bank transfers via swift: Withdrawal completed between five to seven business days
Topstep Platforms
Topstep supports a variety of futures trading platforms, fifteen to be more precise.
Some of the Topstep platforms are free others are paid. The paid Topstep platforms are often free when you are in the Trading Combine phase.
For a better understanding, here’s a list of the Topstep platforms and whether they are free or not.
First, the platforms recommended by Topstep:
| Topstep Recommended Platforms | Free In Trading Combine | Free In Live Funded Account |
|---|---|---|
| TSTrader | Yes | Yes |
| NinjaTrader | Yes | No |
| Quantower | Yes | Yes |
However, if you are used to a different platform, there are other available platforms at Topstep:
| Other Topstep Platforms | Free In Trading Combine | Free In Live Funded Account |
|---|---|---|
| TradingView | Yes | Yes |
| Sierra Chart | No | No |
| T4 | Yes | Yes |
| Jigsaw Daytradr | No | No |
| MultiCharts | No | No |
| R|Trader Pro | Yes | No |
| Volfix | No | No |
| Trade Navigator | No | No |
| ATAS Orderflow Trading | Yes | No |
| Motive Wave | No | No |
| Bookmap | No | No |
| Investor/RT | No | No |
In case you are using a Mac to trade, you are limited to these platforms when trading with Topstep:
- TSTrader
- TradingView
- MotiveWave
- T4 (web version)
Here’s What You Learned Today
- Topstep is a Futures prop trading firm based in Chicago
- You can get a funded account of up to $150k with a profit split of 90% after an initial period where you get 100% of the profits (up to $5k).
- To get access to a Topstep funded account you need to pass a 2-step challenge called Trading Combine
- When trading the simulated or live accounts you need to follow rules mainly related to good risk management
- All major futures trading platforms are supported by Topstep Trader
Learn More
- What is prop trading
- List of the best prop trading firms
