Topstep vs Apex Trader Funding
The two largest futures prop firms. Topstep has twelve years of history, no daily loss limit, an end-of-day trailing drawdown and its own platform. Apex has deep recurring discounts, no daily loss limit and an intraday trailing threshold that follows unrealised profit, which is the strictest form.
| Topstep | Apex Trader Funding | |
|---|---|---|
| Methodology score | 83 / 100 | 72 / 100 |
| Challenge types | Trading Combine (one-step, monthly subscription) | One-step evaluation, monthly fee |
| Account sizes | $50,000, $100,000, $150,000 | $25,000 to $300,000 |
| Challenge fees | Monthly subscription from about $49 for $50,000 to about $149 for $150,000, with frequent first-month discounts | Monthly list price from about $147 for $25,000 to about $657 for $300,000, almost always discounted 50% to 90% with a code |
| Profit targets | $3,000, $6,000 or $9,000 by account size | $1,500 for $25,000 up to $20,000 for $300,000 |
| Daily loss limit | None since 2024; a daily loss limit was removed | None |
| Maximum loss | $2,000, $3,000 or $4,500 trailing on end-of-day balance | Trailing threshold from $1,500 to $7,500 by size, trailing on unrealised profit until it locks |
| Drawdown type | Trailing (end of day) | Trailing |
| Minimum trading days | 2 winning days of $150 or more | 7 in the evaluation (reduced periodically in promotions) |
| Maximum trading days | None while the subscription continues | None while the subscription continues |
| Profit split | 100% of the first $10,000, then 90% | 100% of the first $25,000, then 90% |
| Payouts | On request after five winning days, up to a cap per period | Twice monthly after qualifying days, with caps in the early payouts |
| Scaling | Contract limits rise with profit | Contract limits scale with balance |
| News trading | Allowed | Allowed |
| Weekend holding | Not applicable; futures accounts are flat daily | Not applicable |
| Automated trading | Automation allowed within rules | Automation restricted; fully automated systems not allowed |
| Platforms | TopstepX, NinjaTrader, TradingView, Quantower | NinjaTrader, Tradovate, TradingView, Rithmic-connected platforms |
| Markets | Futures (CME Group) | Futures |
| Founded | 2012 | 2021 |
| Headquarters | Chicago, United States | Austin, Texas, United States |
Both pay 100 percent of an initial tranche of profit and 90 percent after. Apex's payout rules have changed more often.
Verdict. Topstep for the longer record and the milder end-of-day trailing drawdown; Apex for the cheapest route to a large account through discounts, if you can trade under an intraday trailing threshold.
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Figures are each provider's published terms at the last check and can change. Trading and prop-firm evaluations carry a high risk of losing money. We may earn a commission through links. Affiliate disclosure.