Apex Trader Funding and Topstep are the two most recognized names in futures prop trading. Topstep pioneered the industry back in 2012 with the Trading Combine. Apex underwent a major restructuring in March 2026, switching from a monthly subscription to a one-time fee model.
Both firms are legitimate, well-established, and have large trader communities. But their rules, pricing, and payout structures have diverged significantly. Here's how they actually compare in 2026.
Pricing and Fee Structure
This is where the two firms differ most dramatically.
Apex Trader Funding now charges a one-time evaluation fee across account sizes from 25K to 300K. With the "SAVENOW" promo code (85% off), entry costs drop substantially. Evaluations have a 30-day expiration with no resets. Once funded, there's a $79 activation fee for the Performance Account (PA), due within 7 days.
Topstep uses a monthly subscription model with two pricing paths:
- Standard: $49/$99/$149 per month (50K/100K/150K) with a $149 activation fee and resets costing the monthly price
- No Activation Fee: $109/$159/$209 per month (50K/100K/150K) with $0 activation
For traders who pass quickly, Apex's one-time fee is usually cheaper. For traders who need multiple months, Topstep's monthly model means you only pay for the time you use — but the costs add up. Check the deals page for current promotions on both firms.
Drawdown Rules
Drawdown mechanics are one of the most important factors in choosing a prop firm, and these two firms handle them differently.
Apex now offers two drawdown options per account size:
- Intraday Trail — No daily loss limit (DLL), trailing drawdown calculated intraday
- EOD Trail — Has a daily loss limit, trailing drawdown calculated at end of day
Both trail until the floor locks at your initial starting balance. This gives traders a choice between tighter intraday tracking and the protection of a DLL with EOD calculation.
Topstep uses EOD trailing drawdown only. There's no intraday option. The drawdown trails your high-water mark at the end of each trading day.
For scalpers and intraday traders, Apex's dual-option approach is more flexible. For traders who prefer the simplicity of a single drawdown type, Topstep keeps it straightforward.
Profit Split
Apex: 100% of your first $25,000 in lifetime payouts, then 90/10 after that. This is one of the best split structures in the industry — you keep every dollar until you've withdrawn $25K total.
Topstep: 90/10 flat with no progression. No introductory period, no tiering. Every payout from day one is split 90% to you, 10% to the firm.
For your first $25,000 in total withdrawals, Apex is clearly better. After that, both firms are identical at 90/10. If you're evaluating long-term earning potential, the difference narrows significantly after the initial $25K threshold.
Payout Rules and Requirements
This is where the details matter most.
Apex payout requirements:
- 8 trading days between payouts
- 5 of those must be profitable (minimum $50 profit each)
- 30% windfall rule — no single day can account for more than 30% of your total P&L at payout time (this rule expires after your 6th payout)
- Half contracts until the Safety Net ($79 buffer) is cleared
- Maximum 6 payout requests total (lifetime cap on PA)
Topstep payout requirements:
- 5 Benchmark Days between payouts
- Two XFA (Express Funded Account) paths:
- Standard XFA: 5 winning days at $150+ minimum, max $5,000 per payout
- Consistency XFA: 3 winning days, 40% consistency target, max $6,000 per payout
- 20% balance withdrawal limit (50% cap for first 30 days, then 100% after)
- Total withdrawals capped at 90% of (starting balance + net profits)
Apex's windfall rule can catch scalpers and news traders who have one big day. Topstep's withdrawal percentage limits create a different kind of constraint — you can't withdraw your full profits until after the first 30 days.
Trading Restrictions
Apex:
- No automation — bots, algos, and automated trading are prohibited
- Overnight holding allowed
- News trading allowed
- 50% consistency rule on PA (Performance Account)
- COMEX/metals temporarily unavailable
- Maximum 20 accounts
Topstep:
- Automation allowed (no VPS or VPN)
- Overnight holding allowed
- News trading allowed
- Consistency varies by XFA path (40% on Consistency XFA)
- Maximum accounts not explicitly limited in the same way
The automation difference is significant. If you use any form of automated execution — even semi-automated hotkey systems — Topstep is the safer choice. Apex explicitly prohibits all automation.
Contract Limits and Scaling
Both firms use contract scaling on funded accounts.
Apex starts with fewer contracts on the Performance Account compared to evaluation. For example, the 100K PA starts at 6 minis and 60 micros, versus 8/80 during evaluation. Scaling is built into the PA structure.
Topstep scales from 2 lots up to 15 lots progressively: 2, 3, 5, 10, then 15. The scaling is tied to account performance.
Platforms
Apex: Rithmic, Tradovate, Wealthcharts
Topstep: TopstepX (primary platform since July 2025)
Topstep's move to their proprietary TopstepX platform is worth noting. If you have an existing workflow built around Rithmic or NinjaTrader, Apex offers more platform flexibility.
Verdict: Choose Based on Your Style
Choose Apex Trader Funding if you want:
- A one-time fee with no recurring costs
- 100% profit split on your first $25K
- Choice between intraday and EOD trailing drawdown
- Platform flexibility (Rithmic, Tradovate)
- You don't need automation
Choose Topstep if you want:
- A proven firm with 14+ years of track record
- Automation-friendly rules (bots allowed, no VPS/VPN)
- Lower monthly entry cost ($49/mo for 50K Standard)
- No activation fee option ($0 on the higher-priced path)
- A simpler, single-drawdown system
Neither firm is universally "better." Apex wins on profit split and fee structure for fast passers. Topstep wins on automation policy and industry track record. The right choice depends entirely on your trading style and priorities.
Both Apex and Topstep are popular among scalpers — see our best prop firm for scalpers ranking to see how they compare against other firms for fast-execution strategies. If payout speed is a deciding factor, our fastest payout prop firms guide ranks every firm by processing time.
Compare Apex vs Topstep side-by-side to see every rule difference in one view, or visit the deals page to check for active promotions on both firms.