Topstep Review 2027Core Trading Conditions and Fees

Topstep review 2027: the original futures prop firm after a year of rule changes

Topstep was founded in Chicago in 2012 by former floor trader Michael Patak and is the oldest of the retail futures prop firms. Its Trading Combine introduced the idea of paying a monthly fee to prove yourself on a simulated futures account. The firm has since funded a very large number of traders and built its own trading platform. Between late 2025 and spring 2026 it rewrote its pricing, profit split and payout policy several times. This review describes where things stand for 2027.

The Trading Combine

The Combine is a one-step evaluation on accounts with $50,000, $100,000 or $150,000 of buying power. The profit targets are $3,000, $6,000 and $9,000. The key rule is the maximum loss limit: $2,000, $3,000 and $4,500 respectively. It trails upward as the account balance makes new end-of-day highs, and it can be breached in real time during the session. There is also a consistency target, under which the best day cannot make up more than about half of the total profit. Exceeding it does not fail the account. It raises the amount of profit needed to pass.

Pricing

The Combine is paid monthly until the trader passes. Standard pricing starts at $49 a month for the smallest account, and an activation fee of $149 is due on passing. A second pricing path charges more per month and has no activation fee. Topstep adjusted these prices in April 2026 and reduced payout caps on some of the cheaper options at the same time. The price shown at checkout on the day is the one that applies.

The Express Funded Account

Passing leads to an Express Funded Account. This is still a simulated account, and profits are paid by the firm. At activation the trader chooses one of two payout paths. On the Standard path, a payout requires five winning days of at least $150, and each request is capped at half the account's profit up to a set dollar limit. The Consistency path has different eligibility conditions. Traders who perform well can be moved to a Live Funded Account trading real capital.

Profit split

Traders who joined on or after 12 January 2026 receive 90% of profits from the first payout. Those who joined before that date keep the older arrangement, in which the first $10,000 is paid in full before the 90% split begins. The minimum payout request is $125.

Platform

New accounts trade on TopstepX, the firm's own platform, which includes TradingView charts, risk settings and a dashboard. The firm has narrowed third-party platform support in recent years, so traders who depend on a particular tool should confirm that it connects.

Markets and rules

Traders can deal in CME Group futures, including equity index, energy, metal, currency and agricultural contracts, with micro contracts available. Positions must be closed before the session ends each day. News trading is allowed. An optional daily loss limit can be added. Automated strategies are permitted on the firm's terms.

Back2Funded

A trader who loses an Express account before a first payout can pay to reactivate it a limited number of times, instead of repeating the Combine. The fee is substantial and is not always the better choice.

Education

Topstep produces a large amount of coaching content, daily broadcasts and performance tools. For new futures traders this is a real benefit.

Things to consider

The monthly model rewards speed and punishes drift, because every extra month adds to the cost. The trailing loss limit is the rule that ends most accounts. Payout caps mean profits come out gradually.

Pros and cons

• History: operating since 2012.
• Path to live capital: for consistent traders.
• Education: extensive coaching and tools.
• Entry cost: from $49 a month.
• Trailing loss limit: can be hit intraday.
• Rule changes: frequent during 2026.

Who is Topstep for?

Topstep suits futures day traders who want an established firm, structured coaching and a route to a live account. Traders who need a specific third-party platform or who hold overnight should compare other firms.

Verdict

Topstep remains a leading name in futures funding for 2027. Its terms have moved a lot, so rely on the help centre for the current payout policy. Pass quickly, withdraw regularly and respect the loss limit.

Topstep review: compare the alternatives

This Topstep review is part of our Top 40 Prop Trading Firms in 2027 ranking. To compare, read the Apex Trader Funding review and the Alpha Capital Group review.