Topstep Review 2026: Is It Still the Best Futures Prop Firm?

Topstep invented the funded trader evaluation model back in 2012. They were the first. For years, they were the default recommendation — the safe choice. Then 2025 happened.

Platform outages destroyed accounts. BBB complaints tripled. Trustpilot dropped from 4.5 to 3.4. The firm that created the industry is now one of its most controversial players. Here’s an honest look at where Topstep stands in 2026.

Company background

Topstep was founded by Michael Patak, a former floor trader at the Chicago Board of Trade. The original company was called Patak Trading Partners (2010), rebranded to Topstep Trader, then shortened to Topstep in 2020. Based in Chicago. They claim to have created the funded trader concept — “We didn’t enter this space. We created it.”

Patak’s origin story: he lost nearly $100,000 early in his trading career, rebuilt through discipline, and eventually created Topstep to give other traders a shot at funded accounts without risking their own capital. It’s a good story. The current state of the company is more complicated.

In 2024, they launched TopstepX, their proprietary trading platform. In 2026, they launched Topstep Brokerage (CFTC registered, NFA member). They’re not a fly-by-night operation. But being established doesn’t mean everything’s running smoothly.

Current pricing

Topstep uses a monthly subscription model (unlike Apex’s one-time payment):

Standard path (with $149 activation fee after passing):

• 50K account: $49/month
• 100K account: $99/month
• 150K account: $149/month

No activation fee path (higher monthly):

• 50K: $109/month
• 100K: $159/month
• 150K: $209/month

If you pass in the first month, a 50K account costs $49 + $149 activation = $198. If it takes three months, it’s $147 + $149 = $296. The subscription model means your cost scales with how long it takes you to pass. Apex’s one-time $13-$40 (with discounts) doesn’t have this problem.

Resets cost the same as your monthly subscription. You get one free reset with each monthly renewal.

The Trading Combine (evaluation)

Single-phase evaluation, no time limit. That “no time limit” part is important — you can take as long as you need, though you’re paying monthly for the privilege.

Key rules: EOD trailing drawdown (the floor only moves at end of day — significantly more forgiving than Apex’s intraday trailing). Daily loss limit exists and is enforced intraday. Must close all positions by 3:10 PM CT. No overnight holding. Access to 32 futures markets.

About 22% of participants pass the Combine. That’s above the industry average of 5-15%, probably because the EOD drawdown gives more room.

Since July 2025, all new accounts must use TopstepX — their proprietary platform. NinjaTrader, TradingView, Tradovate, and all third-party platforms were removed. If you have a platform preference, that’s gone.

Express Funded vs Live Funded

This distinction matters more than most review sites explain.

Express Funded Account (XFA) is what you get after passing the Combine. It’s a simulated trading environment. Not real markets. You can hold up to 5 XFAs simultaneously. No monthly fees. You trade, you profit, you withdraw — but you’re not actually placing orders in the live market.

Live Funded Account (LFA) is real money, real markets. Only one allowed per trader. Here’s the number that matters: 0.71% of XFA traders ever reach LFA. That’s Topstep’s own published stat. Less than 1 in 100 funded traders make it to live.

You can’t decline an LFA offer — you must accept it or close your XFA. The LFA starts with only 20% of your combined XFA balance (minimum $10,000). The rest unlocks in four increments through profit milestones. Setup takes 7-10 business days, and 90 days of inactivity closes it permanently.

Payout structure

Topstep introduced two payout paths in February 2026:

Standard Path: 5 winning days of $150+ profit each, then withdraw up to 50% of balance, maximum $5,000 per request.

Consistency Path: 3 days traded with a 40% consistency target (your largest winning day can’t exceed 40% of total net profit), then withdraw up to 50% of balance, maximum $6,000 per request.

Up to 4 payout requests per month. $30 withdrawal fee per transaction. Processing via Wise or bank transfer, 2-6 business days.

Profit split: If you joined after January 12, 2026, it’s a flat 90/10 from dollar one. If you joined before that date, you got 100% of the first $10,000 then 90/10. The January change was a downgrade for new traders that Topstep didn’t exactly advertise.

The platform outage crisis

This is the elephant in the room. Between October and December 2025, TopstepX experienced 11 confirmed platform issues in three months. Outages occurred nearly weekly. Traders couldn’t open or close positions during active market hours. Multiple funded accounts were liquidated because traders physically couldn’t exit losing positions.

Specific documented incidents:

• December 16, 2025 (5:00-5:30 PM CST): Platform unresponsive during active trading
• December 17, 2025 (8:45-9:15 AM CST): Platform unresponsive during market open — one of the most active trading periods of the day
• February 1, 2026: TopstepX repeatedly rejected valid exit orders in Micro Gold (MGC), displaying “Outside of trading hours” errors during confirmed active CME trading hours
• A three-day outage period where traders reported watching “thousands in unsecured profits vanish”

Topstep blamed CME Velocity Logic pauses for some issues. Traders provided independent CQG data proving no such pauses occurred during the affected timeframes. The firm’s explanations didn’t match the evidence.

CEO Michael Patak publicly committed to fixing the issues by January 2026 in a December 23, 2025 statement. Outages continued into February.

Topstep’s compensation for accounts blown during confirmed outages: evaluation account resets. Not funded account reinstatements. Not refunds. Free resets on evaluations. Traders who lost funded accounts with thousands in equity were offered the chance to start the evaluation process over from scratch. One BBB complaint documented a trader who lost two funded accounts during the December outages and spent weeks proving they were within the affected timeframe before Topstep acknowledged they were “overlooked because of a system error.”

BBB complaints

Topstep has 101 BBB complaints with 75 filed in just the last 12 months. They’re rated A- but are NOT BBB accredited. Of 101 complaints, only 58 were resolved — 43 were answered but not accepted by the consumer.

The complaints break down into patterns:

Accounts closed near payout time. A trader had their account banned the exact day they earned roughly $6,000 and were about to request a payout. Reason given: “Identity and payment method misuse.” When the trader tried to appeal, Topstep responded: “We will not indulge in further conversation.” No evidence provided.

Retroactive rule enforcement. One trader submitted a $2,058 payout request on February 5. The same day, they received a warning email about an alleged hedging violation from December 3 — two months earlier. Their account was closed February 10 with $2,169.54 in it. The problem? Topstep had approved two separate payouts AFTER the alleged violation date (December 19 and January 14). The trader had video proof of no hedging. Topstep’s response: generic “violations of terms.”

KYC as a denial tool. A trader’s account was closed because “someone handed them their phone” during the KYC verification selfie. $1,344 withheld. The trader offered to do a live video verification. Topstep refused: “this decision is final.”

Payouts approved but never received. At least one complaint documents a payout that was approved, marked as “sent,” but never arrived. Topstep demanded the trader provide bank confirmation but refused to provide their own MT103 transfer proof.

Trustpilot decline

In February 2025, Topstep had a 4.5/5 Trustpilot rating. By late 2025 it dropped to 3.8. As of April 2026, it’s 3.4 out of 5 from 13,690+ reviews. That’s a 1.1-point drop in roughly one year.

For context: Apex is at 4.4 with 18,300+ reviews. MyFundedFutures is at 4.9 with 17,000+ reviews. Topstep’s rating decline is the steepest in the industry.

Topstep responds to about 4% of negative reviews, usually two weeks after they’re posted. That response rate is telling.

What Topstep does well

Despite all the above, there are genuine strengths:

• EOD trailing drawdown. The most forgiving drawdown type in the industry on all accounts. Intraday swings don’t affect your floor. This alone makes Topstep evaluations easier to pass than Apex’s.
• Track record. 13 years in business. They’ve survived every industry shakeout. They’re CFTC registered through Topstep Brokerage. That regulatory footprint provides some accountability.
• Live Funded accounts exist. The 0.71% conversion rate is tiny, but Topstep is one of the few firms that actually routes traders to real live markets. Most competitors keep everyone in simulation forever.
• No time limit on evaluations. If you need six months to pass, you can take six months (though you’re paying monthly).
• 32 futures markets. Broader market access than most competitors.

How Topstep compares in 2026

vs Apex: Topstep’s EOD drawdown is more forgiving. But Apex is cheaper (one-time $13-$40 vs monthly $49-$149), allows 20 simultaneous accounts vs 5, and has a better Trustpilot rating. Apex’s 4.0 automated payouts may also be more reliable than Topstep’s process given the complaint patterns.

vs MyFundedFutures: MFF has daily payouts on Rapid, a 4.9 Trustpilot rating, no time limit, no daily loss limit, and a 90/10 split. MFF’s Rapid plan does use intraday trailing drawdown, but the Pro plan uses EOD like Topstep. MFF is two years old vs Topstep’s thirteen, so longevity favors Topstep — but recent trajectory doesn’t.

vs TradeDay: TradeDay offers daily payouts, a split that scales to 95%, and 24-hour processing. TradeDay’s complaint volume is much lower. Topstep’s advantage is the EOD drawdown and larger market selection.

Who should use Topstep

Topstep still makes sense if you specifically need EOD trailing drawdown and want a firm with regulatory registration (CFTC/NFA). If you’re a patient trader who holds through intraday swings and closes positions before the session ends, Topstep’s drawdown mechanics are built for you.

Who should avoid Topstep

If the complaint patterns concern you — and they should — there are cleaner options. If you don’t want to be locked into TopstepX as your only platform, you’re out of luck. If you want daily payouts, fast processing, and a firm that doesn’t have 75 BBB complaints in the last year, look at MFF or TradeDay.

Topstep created this industry. In 2026, several of the companies they inspired are doing it better. Whether Topstep can reverse its trajectory depends on whether the platform stability and customer service issues get fixed. Right now, the trend is going the wrong direction.