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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsTopstep is a futures trading evaluation program with published fees, rules and payout terms; the available evidence does not establish that it is a scam. But the Trading Combine and Express Funded Account are simulated, and passing does not guarantee a payout or a live account. Treat the recurring fees as money you may lose, and check current terms before buying.
Topstep describes a three-stage path: a paid Trading Combine, a simulated Express Funded Account (XFA), and possible advancement to a Live Funded Account (LFA). The program is futures-only, with intraday restrictions, and is not a fit for every strategy or trader.
What is Topstep?
Topstep offers a rules-based futures trading evaluation. The Trading Combine is a paid monthly subscription: traders must reach a profit target while meeting a consistency target and staying within the Maximum Loss Limit. Profits earned in the Combine do not transfer to the XFA. Topstep says an XFA starts at a $0 balance and is simulated; eligible traders may request payouts from it under additional rules.
- Trading Combine: A simulated evaluation with a profit target, consistency requirement and loss limit.
- Express Funded Account: A simulated account for traders who pass. Payouts are possible only when the applicable eligibility conditions are met.
- Live Funded Account: Topstep may call up qualifying XFA traders after consistent performance. This is not an automatic result of passing the Combine.
Topstep says positions must be closed by 3:10 p.m. Central on weekdays; swing trading and forex are not allowed in the program. Permitted products and hours can vary, so check the current rules before subscribing.
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Is Topstep a scam?
The available evidence supports describing Topstep as a structured commercial evaluation program, not labeling it a proven scam. Topstep publishes its program rules, fees, payout conditions and disclosures. Those materials do not guarantee that every trader will pass, receive a payout or agree with how a particular decision is handled.
Topstep’s disclosures say TopstepTrader, LLC operates the simulated Trading Combine and Express Funded Account services. They separately identify affiliated Topstep Brokerage LLC as an introducing broker registered with the U.S. Commodity Futures Trading Commission and a member of the National Futures Association (NFA ID 0567079). That brokerage registration does not mean the simulated evaluation itself is brokerage activity, nor does it guarantee trading success or payouts.
Topstep’s disclosures warn: “Commodity trading involves substantial risk of loss.” The company’s terms also reserve discretion to review trading activity and prohibit conduct such as exploiting simulated fills or data. Read the current terms and prohibited-conduct rules; those policies alone do not prove that an individual complaint is valid or that enforcement is systematically unfair.
What Topstep reports about outcomes
Topstep’s disclosures report these figures for January through December 2025. They are company-published statistics, not independently audited results established by this research.
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| Reported measure | Topstep-reported result | What it measures |
|---|---|---|
| Trading Combines successfully completed | 16.8% | Combines initiated that were completed successfully and afforded the opportunity to advance to Funded Level. |
| Participants advancing at least once | 51.8% | Individual participants who entered one or more Combines and advanced to Funded Level in at least one. |
| Funded Level participants receiving a payout | 33.3% | Individual participants at Funded Level who received a payout. |
| Express Funded Account participants called up to Live Funded | 0.71% | Individual participants trading in an XFA who were called up to an LFA. |
These measures have different denominators: a Combine attempt is not the same as a unique participant, and receiving a payout is not the same as reaching a live account. They are not an individual reader’s probability of success. Source: Topstep, Disclosures & Notices.
How much does Topstep cost?
Topstep’s pricing page lists monthly Combine prices for two paths. These are base prices; applicable tax may be added at checkout. Prices can change, so verify them before subscribing.
| Combine size | Standard Path, per month | No Activation Fee Path, per month | Standard Path activation fee per XFA earned |
|---|---|---|---|
| 50K | $49 | $95 | $149 |
| 100K | $99 | $149 | $149 |
| 150K | $199 | $229 | $149 |
The No Activation Fee Path has no activation fee. Topstep says the paths cannot be changed after purchase. The Combine renews every 30 days until you pass or cancel, and Topstep says there is no time limit for passing. Budget for the number of paid cycles, resets, activation charges if applicable, trading fees and taxes. Topstep says refunds are generally unavailable after purchase, subject to limited policy-specific exceptions; check the current refund policy.
Topstep’s published TopstepX fee example lists round-turn costs of $3.78 for ES and $1.22 for MES, with exchange fees varying by product. These figures are an example, not a universal estimate of trading costs. Sources: Topstep Pricing and Payment Questions, Trading Combine Subscriptions, TopstepX commissions and fees, and Topstep Refund Policies.
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How do Topstep payouts work?
Payout eligibility depends on the account path and further performance and conduct rules; passing the Combine alone does not make Combine profits withdrawable. Topstep’s current policy describes a 90/10 split and a $125 minimum payout request for eligible XFA traders. The policy limits requests to 50% of the account balance, subject to a per-request cap.
| Account size | Standard XFA cap | Consistency XFA cap |
|---|---|---|
| 50K | $2,000 | $3,000 |
| 100K | $3,000 | $4,000 |
| 150K | $5,000 | $6,000 |
For the Standard XFA, Topstep describes eligibility after five winning days of at least $150. For the Consistency XFA, it describes three trading days and a 40% consistency target. These paths have different conditions, and payout caps or offers may change. Check the live policy for the terms that apply to your account.
Topstep says LFA payouts require five winning days of at least $150 per cycle and are uncapped in dollars. It also describes a separate daily payout feature after 30 qualifying winning days. “Uncapped” does not mean unconditional: risk limits, eligibility checks and conduct review still apply. Payment methods, availability by location, fees and processing times can vary. Source: Topstep Payout Policy.
Risk rules and prohibited conduct
The advertised account size is not cash deposited for you, and it is not the amount you can lose. The Maximum Loss Limit and other rules determine when an account fails. Before trading, identify the profit and consistency targets, how the loss limit is calculated, any daily loss rule, position limits, trading hours, payout effects and prohibited strategies. A profitable trader can still violate a hard rule.
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Topstep’s terms allow reviews of trading activity and list prohibited conduct, including exploiting simulated fills or data, disruptive practices and use of external or slow data feeds. The help center says possible consequences can include warnings, removal of a trading day, resets, account closure, or payout delay or denial. Read the current rules and retain copies of applicable terms, trade records and payout communications. Sources: Terms of Use and Prohibited Conduct.
Advantages and disadvantages
| Potential advantage | Tradeoff or risk |
|---|---|
| A defined evaluation and risk framework for futures traders. | Strict targets and loss limits can end an account even if a strategy might be profitable over a longer period. |
| Potential route from evaluation to simulated funded trading and possibly a live account. | Passing does not guarantee payouts or an LFA; Topstep’s reported figures show these are distinct outcomes. |
| Published pricing and payout rules to review before purchase. | Recurring subscriptions, resets, trading costs and possible activation fees can add up. |
| Futures-focused program. | Forex, swing trading and holding positions beyond the stated intraday limit are not allowed under the program. |
| Evaluation fees limit the amount committed compared with funding a conventional brokerage account. | Fees are at risk, and simulated execution may not match live-market fills. |
Who should consider Topstep?
Topstep may suit an experienced futures trader with a tested strategy, a clear understanding of contract risk and enough disposable funds to lose the fees without affecting essential expenses.
It is a poor fit for someone who is new to futures, needs immediate income, wants to trade forex or hold positions overnight, or plans to use borrowed or essential household money. Do not assume passing means receiving a large cash balance.
How to assess Topstep before paying
- Read the current rules. Note the profit and consistency targets, loss limits, trading hours, contract limits and payout conditions.
- Calculate total costs. Include multiple monthly cycles, possible resets, activation charges, trading fees and taxes.
- Practice under the same constraints. Use the same instruments, trading hours, position limits and stops before paying for an evaluation.
- Check billing and refund terms. Confirm renewal timing, cancellation steps and the current refund policy.
- Keep records. Save the rules in effect when you purchased, plus trade records and payout communications.
- Do not chase a failed attempt. A reset or another subscription is a new cost, not a recovery of the previous fee.
FAQ
Is Topstep legit?
Topstep publishes its program rules and disclosures, and its disclosures identify an affiliated introducing broker registered with the CFTC and a member of the NFA. The simulated evaluation program is operated by a separate affiliated entity; registration does not guarantee success or payouts.
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How much does Topstep cost?
Topstep’s pricing page lists monthly prices from $49 to $199 for the Standard Path and $95 to $229 for the No Activation Fee Path, depending on Combine size. Standard Path also lists a $149 activation fee per XFA earned. Check the live page for current prices, taxes and terms.
How do Topstep payouts work?
Eligible XFA traders must satisfy the conditions for their path. Topstep’s published policy describes a 90/10 split, a $125 minimum request and balance-based caps, with different winning-day and consistency requirements for Standard and Consistency accounts. Verify the current policy before relying on any specific term.
Is a Topstep funded account real money?
The XFA is simulated, according to Topstep, and begins at a $0 balance. It is not a cash balance handed to you or a personal brokerage deposit. Topstep may call qualifying traders up to an LFA, subject to its rules.
Can you get a payout from Topstep?
Topstep says eligible traders may request payouts after meeting account-specific requirements. A payout is not guaranteed by passing the Combine, and requests are subject to policy and compliance review.
Does Topstep let you trade forex or hold positions overnight?
Topstep describes its program as futures-only and says swing trading and forex are not allowed. It states positions must be closed by 3:10 p.m. Central on weekdays. Check current product and trading-hour rules before joining.
Final verdict
Topstep is best described as a structured futures evaluation program, not a guaranteed route to trading income. Its simulated stages, recurring fees, payout conditions and possible live progression should be evaluated separately. It may suit a disciplined futures trader who can afford the risk; beginners and anyone relying on trading for immediate income should not treat it as a substitute for training, savings or a steady paycheck.
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