Topstep vs Apex Trader Funding: the short answer
Choose Topstep if you want one of the best-known US-based futures evaluation firms with an NFA-registered brokerage affiliate, published pass rates and a simple 90% split. Choose Apex Trader Funding if you want to run several accounts at once, keep 100% of your first $25k of profit, and trade on NinjaTrader, Tradovate or TradingView rather than a single in-house platform. Topstep scores 78/100 (rank 5) in our editorial ranking and Apex scores 74/100 (rank 6). All figures were verified November 2026.
Quick verdict
Both are futures evaluation firms with dollar-based trailing drawdowns, no minimum trading days for the evaluation and non-refundable fees. Topstep's strengths are its track record and transparency: it publishes its own pass rates, and it scores 26/30 on track record against Apex's 20/30. Its weaknesses are cost and choice: a monthly subscription that keeps running until you pass, one platform (TopstepX), and the lowest Trustpilot score among the firms we rank. Apex is more flexible and has a better review score, but it overhauled its model in 2026, and our sources conflict on its current prices.
| Topstep | Apex Trader Funding | |
|---|---|---|
| WizardTrader score | 78/100 (rank 5) | 74/100 (rank 6) |
| Evaluation | Trading Combine (1-step, monthly subscription) | Evaluation (EOD or intraday trailing) |
| Price from | $49/month (50k) + $149 activation | Sources conflict; check Apex's site |
| Profit target | 6% ($3k on 50k) | $1.5k–$9k by account size |
| Daily loss limit | Optional, set at checkout | EOD accounts only ($500–$2k) |
| Max drawdown | $2k / $3k / $4.5k, end-of-day trailing | $1k–$4k trailing |
| Minimum trading days | None for Combine | None for evaluation |
| Profit split | 90% | 100% of first $25k, then 90% |
| Payouts | After 5 winning days | Up to 6 payouts per account |
| Platforms | TopstepX | Rithmic (NinjaTrader, Quantower and more), Tradovate, TradingView, WealthCharts |
| Refundable fee | No | No |
| Trustpilot | 3.7 (15,035 reviews, Nov 2026) | 4.2 (21,435 reviews, Oct 2026, via PropFirmMap) |
| Founded and HQ | Chicago, USA | 2021, Austin, Texas, USA |
Costs and profit split
Topstep's Trading Combine costs $49 a month for a 50k account, plus a $149 activation fee. Because it is a subscription, your cost depends on how long you take. As an illustration on the 50k account, three months of subscription plus activation would cost 3 × $49 + $149 = $296. Our data does not verify prices for larger Topstep accounts.
Apex changed from subscriptions to one-time fees in its 2026 restructure. Sources conflict on its current prices, so we do not quote one here; check Apex's own site. Neither firm's fee is refundable.
On profit split, Topstep pays 90%. Apex pays 100% of your first $25,000 and 90% after that. On $30,000 of profit in one account, Apex would pay $25,000 + (90% × $5,000) = $29,500, and Topstep would pay 90% × $30,000 = $27,000. On profits under $25,000, Apex pays 10 percentage points more. We score Apex 12/15 on cost and Topstep 10/15.
Rules and drawdown
Futures evaluations at both firms use fixed dollar limits rather than percentages. Topstep's maximum drawdown is end-of-day trailing at $2,000, $3,000 or $4,500 depending on the account. Apex's is trailing at $1,000 to $4,000, and you choose between end-of-day and intraday trailing. Topstep's daily loss limit is optional and set at checkout. Apex applies a daily loss limit of $500 to $2,000 only on its end-of-day accounts.
Topstep's profit target is 6%, which is $3,000 on a 50k account. Apex's targets run from $1,500 to $9,000 by account size. Neither requires minimum trading days during the evaluation.
On conduct, Apex allows news trading, prohibits bots and does not allow overnight holding. Our data does not verify Topstep's rules on news, EAs or overnight holding, so check Topstep's own rulebook before you trade around releases or hold positions into the next session.
Worked example: what the dollar limits mean on a $100k account
Our data does not map each firm's dollar tiers to specific account sizes, so we cannot state the exact limits on a $100k account. What we can show is how large the published figures are relative to $100,000:
- Topstep max drawdown: $2,000, $3,000 or $4,500 equals 2%, 3% or 4.5% of $100,000.
- Apex max drawdown: $1,000 to $4,000 equals 1% to 4% of $100,000.
- Apex daily loss (EOD accounts): $500 to $2,000 equals 0.5% to 2% of $100,000.
- Topstep profit target: 6% of $100,000 would be $6,000, if the 6% applies at that size.
The trailing feature matters as much as the size. Take a hypothetical $3,000 end-of-day trailing limit on a $100,000 balance. The threshold starts at $97,000. If you close a day at $101,500, the threshold rises to $98,500, so your cushion is still $3,000 from your new high, not $4,500 from your start. Intraday trailing, offered by Apex, can move the threshold up with open profits during the session, which is tighter still. Our guide to trailing vs static drawdown and the drawdown calculator show how this plays out over a run of trades.
Platforms
Topstep uses its own platform, TopstepX. Apex connects through Rithmic (which supports NinjaTrader, Quantower and others), Tradovate, TradingView and WealthCharts. If you already have a NinjaTrader or TradingView setup, Apex lets you keep it. Both score 10/10 on platforms in our scoring. See trading platforms compared.
Payouts and scaling
Topstep pays after 5 winning days, and its Live accounts start with a balance of up to $150,000. Apex allows up to 20 Performance Accounts, but each account retires after 6 payouts. Running many Apex accounts multiplies both potential payouts and fees.
Who should choose each
- Choose Topstep if you want a well-known US firm with an NFA-registered brokerage affiliate, are happy on TopstepX, and want to see published pass rates before you commit.
- Choose Apex if you want multiple accounts, the 100% split on early profits, or a third-party platform such as NinjaTrader or TradingView.
- Either requires disciplined day trading inside a small dollar drawdown. If you are new to futures, start with futures trading for beginners.
Concerns to weigh
Both firms carry caution notes in our data. By Topstep's own 2025 figures, 16.8% of Combines were passed and 0.71% of Express traders reached a Live account. Its monthly subscription keeps charging until you pass, and its Trustpilot score of 3.7 is the lowest among the firms we rank.
Apex restructured in 2026: subscriptions became one-time fees, the consistency rule reportedly rose from 30% to 50%, and metals futures were suspended. Rules changed often during the year, accounts retire after 6 payouts, and price data conflicts between sources.
Read the full Topstep review and Apex Trader Funding review, or compare all prop firms.
Sources
Topstep
Apex Trader Funding
Figures on this page were verified November 2026. Prop firm rules change often, so confirm current terms on each firm's site before you buy a challenge.
Trading involves substantial risk of loss and is not suitable for everyone. A prop firm challenge fee is money at risk, and past payouts do not predict future results. This page is general information, not financial advice. Rankings are editorial and not paid. Read our risk disclaimer and advertiser disclosure.