10 linked sources · Reviewed Oct 25, 2026
Documentation review by FN Blogs. This site uses FundedNext branding and includes FundedNext in its coverage. Inclusion is not an independent certification or a guarantee of payouts. No firsthand account test is claimed.
What to know before you compare
Topstep is a futures evaluation program with three distinct stages: Trading Combine, Express Funded Account and, for traders selected by its Risk Team, a Live Funded Account. Passing the Combine leads to the simulated Express stage; it does not immediately place you in a live brokerage account. [1][6]
- Market
- CME Group futures [8]
- Evaluation
- Simulated Trading Combine [2]
- Next stage
- Simulated Express account [6]
- 50K initial loss allowance
- $2,000 [3]
- Evaluation billing
- Every 30 days until pass or cancel [5]
How the three stages work
The Trading Combine assesses performance under trading rules. Express Funded Accounts, or XFAs, then permit eligible payouts based on simulated results. Live accounts use Topstep’s proprietary capital and require a separate Risk Team call-up. These distinctions matter when comparing firms: an evaluation pass, eligibility to request a payout and selection for live trading are different milestones. This guide covers the publicly documented program checked on October 25, 2026. [1][6]
Passing the Combine
A trader must reach the applicable profit target while respecting the Maximum Loss Limit and consistency objective. An unusually large best day can increase the profit needed to complete the consistency requirement. Evaluation profits do not transfer into the XFA. Before enrolling, translate the account’s contract limits into the actual positions your strategy uses; the permitted maximum is a ceiling, not a sensible default position size for every trader. [2]
Account size versus usable loss room
A 50K account does not permit a $50,000 trading loss. Its initial Maximum Loss Limit allowance is $2,000; the corresponding allowances are $3,000 for 100K and $4,500 for 150K. The threshold follows end-of-day gains but is enforced during the session, including unrealized losses. An XFA starts at a displayed $0 balance, with buying power represented by its size label. After the first payout, its loss floor becomes $0. [3]
Budget for renewals and activation
The listed 50K Standard Combine costs $49 monthly, with a $149 XFA activation fee. The 50K No Activation Fee path costs $95 monthly. Purchased resets follow the selected path’s price; taxes and optional data upgrades can add costs. [4] Subscriptions rebill every 30 days until passing or cancellation. Breaking a rule does not cancel billing. Budget for several billing cycles and possible retries, then compare that total with your available evaluation budget. [5]
Choose the Express payout path carefully
XFA Standard requires five winning days of at least $150; Consistency requires three trading days and a largest day no greater than 40% of net profit. The choice is locked at activation. [6] The current payout policy generally provides a 90/10 split, a $125 minimum request and withdrawals limited to 50% of balance, with additional size- and path-specific caps. Some older accounts have different terms. Check your precise account policy before projecting take-home cash. [7]
Check whether your strategy fits
Topstep is a futures day-trading program. Positions must close by 3:10 p.m. Central Time on weekdays, or earlier when a product closes earlier; trading generally resumes at 5 p.m. Central. Currency futures are available, but spot forex and holding positions across the daily session break are outside this program. Map those hours to your local time and usual holding period before paying. A workable market thesis still needs a compatible account structure. [8]
Eligibility and the move to live
Participation requires being at least 18, and eligibility depends on citizenship and permanent residence. Some locations permit Express participation without ordinary Live eligibility, so verify both stages. [9] Live trading also introduces professional market-data, platform and transaction costs; Topstep currently covers one exchange’s data. [10] Request clarity about those expenses before accepting a transition. This comparison explains published rules; it does not establish that any individual will pass, receive a payout or be selected for a live account.
Frequently asked questions
Is an Express Funded Account live money?
No. Express is simulated, although qualifying traders can receive real payouts. Live trading is a separate stage. [6]
Does failing stop the monthly charge?
No. A failed Combine remains subscribed until cancellation or passing after a reset. Check the billing dashboard. [5]
Can I keep a position open over the daily break?
No. Topstep requires positions to be closed by the applicable daily cutoff. [8]
Compare this program with the other firms
Use the same questions for each account: market access, loss allowance, total fees, withdrawal rules and eligibility.
Read the top 10 prop firms comparison →- Topstep Program Overview Topstep
- Trading Combine Parameters Topstep
- What Is the Maximum Loss Limit? Topstep
- Topstep Pricing and Payment Questions Topstep
- Trading Combine Subscriptions Topstep
- Express Funded Account Parameters Topstep
- Topstep Payout Policy Topstep
- When and What Products Can I Trade? Topstep
- Am I Eligible to Trade with Topstep? Topstep
- What Are the Costs in the Live Funded Account? Topstep
Sources checked for this edition on Oct 25, 2026. Program terms and market data can change after publication.
For education and information only. This article is not a recommendation to buy, sell or trade. Prices and events are tied to the dates stated.
