Topstep vs Apex Trader Funding: rules and payouts side by side
By Alexander Burnett (editor) Last updated Data read by our script
How we got this
How: Every value comes from the US Futures Prop Access Ledger: Topstep's and Apex Trader Funding's own pages, read by our script from a US network address on 15 October 2026 and 11 November 2026, with the firm's quote and the page address. How we checkHow we make moneyCorrections
Term by term from each firm's own pages, read 15 October 2026 and 11 November 2026. Facts in each firm's words: we don't rate firms or pick a winner. Apex Trader Funding: partly read, so a gap may be on a page we couldn't read.
Side by side: Topstep and Apex Trader Funding
Apex Trader Funding states the higher split; only Topstep publishes a payout rate
6 measures · read 15 Oct 2026 and 11 Nov 2026
Each measure has its own scale from zero. A flat plate means the firm states no figure.
Static viewthe figures are written out beside this chart
| Measure | Topstep | Apex Trader Funding |
|---|---|---|
| Cheapest $50K route judgedprice plus activation fee, first-time pass (judged) | $85 | not stated |
| Profit splitthe trader’s share, in the firm’s own words | 90% | 100% |
| Payout minimumthe smallest payout you can ask for | $125 | $500 |
| Payout rateeach firm’s own figure; periods differ, so not ranked | 33.3% | not stated |
| Pass rateeach firm’s own figure; periods differ, so not ranked | 16.8% | not stated |
| Terms stated our arithmeticof the 16 key terms we compare | 16 | 13 |
Where both sit on price
Topstep costs less than the median; Apex Trader Funding states no $100K price
25 futures firms · read 11 Nov 2026
Topstep $129 · Apex Trader Funding not stated · median of 25 firms $248 (our arithmetic)
Futures, 25 firms: cheapest TradeDay $108, median $248 (our arithmetic), dearest Phidias $900.
Where they differ
The terms traders compare first. only where both firms state one plain figure; tap Source for the firm's own words.
- Cheapest $50K route to funded judged Price plus activation fee, first-time pass; no resets or data fees Only Topstep prices oneTopstep: $85$85 a month + $0 activation
In fulltopstep.com
Trading Combine 50K (No Activation Fee path, RTA on): $85 (monthly) + $0 activation
Apex Trader Funding: - Profit splitTopstep: 90% 10 pts lower90/10 (trader 90%)
Sourcehelp.topstep.com
90/10 profit split — you keep 90%
help.topstep.comApex Trader Funding: 100% 10 pts higher100% to trader (EOD Performance Accounts)Sourceapextraderfunding.com
Approved payouts are issued at a 100% payout split, you receive 100% of the approved payout amount.
apextraderfunding.com - Payout schedule and minimumTopstep: XFA Standard: after 5 winning days of $150+…; …Minimum $125 $375 lower
In fullhelp.topstep.com
XFA Standard: after 5 winning days of $150+, up to 50% of balance per request, capped at $2,000 (50K), $3,000 (100K) or $5,000 (150K); XFA Consistency caps $3,000/$4,000/$6,000; Live: daily after 30 winning days
5 winning days of $150+ Net P&L. Days don't need to be consecutive.
help.topstep.comApex Trader Funding: EOD PA: up to weekly, after 5 qualifying days…; max 6 payouts per PAMinimum $500 $375 higherIn fullapextraderfunding.com
EOD PA: up to weekly, after 5 qualifying days ($100-$350 min daily profit by size); max 6 payouts per PA
Up to weekly payouts with 100% payout split
apextraderfunding.com - Consistency ruleTopstep: Trading Combine: 55% consistency target; …
In fulltopstep.com
Trading Combine: 55% consistency target; XFA Consistency path: best day max 40% of net profit
Consistency Target: 55%
topstep.comApex Trader Funding: EOD evaluation: none; Funded (PA) payouts: 50%…In fullapextraderfunding.com
EOD evaluation: none; Funded (PA) payouts: 50% (no single day 50% or more of profit since the last payout)
Consistency Not Applied Not Applied Not Applied Not Applied
apextraderfunding.com - Drawdown Both: end-of-dayTopstep: End-of-dayend-of-day trailing: Max Loss Limit trails the highest…; …
In fulltopstep.com
end-of-day trailing: Max Loss Limit trails the highest end-of-day balance (set at the end of each day); Express Funded locks at $0, its starting balance
This limit is based on your highest end-of-day balance and does not go down if you lose money the next day.
topstep.comApex Trader Funding: End-of-dayIntradayEOD trailing (EOD path) or intraday trailing…; …In fullapextraderfunding.com
EOD trailing (EOD path) or intraday trailing (Intraday path); EOD max drawdown $1,000/$2,000/$3,000/$4,000 for 25K/50K/100K/150K, daily loss limit $500/$1,000/$1,500/$2,000
Max Drawdown (EOD) $1,000 $2,000 $3,000 $4,000
apextraderfunding.com - US traders What the firms say, not a view on legality. SameTopstep: Says it serves US traders
In fullhelp.topstep.com
yes (stated: US-only payout methods for 'U.S. domestic Traders'; US not on ineligible list)
Aeropay is a Pay by Bank service for U.S. domestic Traders
help.topstep.comApex Trader Funding: Says it serves US tradersIn fullapextraderfunding.com
yes (stated: 'Services are intended for U.S. users only'; US not on restricted list)
Services are intended for U.S. users only and are not offered where prohibited by local laws or regulations.
apextraderfunding.com - Platforms None in commonTopstep:
TopstepX (own platform, built by ProjectX Trading LLC)Sourcetopstep.com
Trade on TopstepX™ with trader-built performance and risk management tools.
topstep.comApex Trader Funding:
Tradovate, Rithmic, WealthCharts…In fullapextraderfunding.com
Tradovate, Rithmic, WealthCharts (chosen as the vendor at checkout)
One Pack ▲ Tradovate → Rithmic → Wealthcharts
apextraderfunding.com
Topstep states 16 and Apex Trader Funding 13 of the 16 terms we compare on their own pages, read 15 October 2026 and 11 November 2026, according to TradingLookup's US Futures Prop Access Ledger (November 2026).
Every term side by side
| Term | Topstep | Apex Trader Funding |
|---|---|---|
| Cost | ||
| Cheapest 50K route to funded judged | $85 $85 (monthly) + $0 activationIn fulltopstep.comTrading Combine 50K (No Activation Fee path, RTA on): $85 (monthly) + $0 activation | Not stated on the pages we read |
| Plans priced | 3 plans, from $85 In fulltopstep.comTrading Combine 100K (No Activation Fee path, RTA on): $129 (monthly); Trading Combine 150K (No Activation Fee path, RTA on): $199 (monthly); Trading Combine 50K (No Activation Fee path, RTA on): $85 (monthly)
| 1 plan, from $16.7 In fullapextraderfunding.comIntraday Trail 25K: $16.7 (one-off)
|
| Activation fee | Standard path: $149 one-time per XFA In fullhelp.topstep.comStandard path: $149 one-time per XFA; No Activation Fee path: none
| Performance Account: one-time $89 on the 25K Intraday Trail Standard… In fullapextraderfunding.comPerformance Account: one-time $89 on the 25K Intraday Trail Standard plan, paid after passing; a 'No Activation Fee' option is also offered
|
| Reset fee | equal to the monthly price on the plan card (e.g. $85 for 50K) In fullhelp.topstep.comequal to the monthly price on the plan card (e.g. $85 for 50K); 1 reset credit per monthly rebill
| No resets on new evaluations (they expire after 30 days) In fullapextraderfunding.comNo resets on new evaluations (they expire after 30 days); legacy evaluations can still be reset
|
| Rules | ||
| Drawdown | end-of-day trailing: Max Loss Limit trails the highest end-of-day… In fulltopstep.comend-of-day trailing: Max Loss Limit trails the highest end-of-day balance (set at the end of each day); Express Funded locks at $0, its starting balance
| EOD trailing (EOD path) or intraday trailing (Intraday path) In fullapextraderfunding.comEOD trailing (EOD path) or intraday trailing (Intraday path); EOD max drawdown $1,000/$2,000/$3,000/$4,000 for 25K/50K/100K/150K, daily loss limit $500/$1,000/$1,500/$2,000
|
| Consistency rule | Trading Combine: 55% consistency target In fulltopstep.comTrading Combine: 55% consistency target; XFA Consistency path: best day max 40% of net profit
| EOD evaluation: none In fullapextraderfunding.comEOD evaluation: none; Funded (PA) payouts: 50% (no single day 50% or more of profit since the last payout)
|
| Payouts | ||
| Profit split | 90/10 (trader 90%) 10 pts lower Sourcehelp.topstep.com
| 100% to trader (EOD Performance Accounts) 10 pts higher Sourceapextraderfunding.com
|
| Payout schedule | XFA Standard: after 5 winning days of $150+, up to 50% of balance per… In fullhelp.topstep.comXFA Standard: after 5 winning days of $150+, up to 50% of balance per request, capped at $2,000 (50K), $3,000 (100K) or $5,000 (150K); XFA Consistency caps $3,000/$4,000/$6,000; Live: daily after 30 winning days
| EOD PA: up to weekly, after 5 qualifying days ($100-$350 min daily… In fullapextraderfunding.comEOD PA: up to weekly, after 5 qualifying days ($100-$350 min daily profit by size); max 6 payouts per PA
|
| Payout minimum | $125 $375 lower Sourcehelp.topstep.com
| $500 $375 higher Sourceapextraderfunding.com
|
| Payout method | ACH and Aeropay (US banks), Wire/SWIFT, Wise (China, Canada, UK only)… In fullhelp.topstep.comACH and Aeropay (US banks), Wire/SWIFT, Wise (China, Canada, UK only), transfer to Topstep Brokerage (US); $30 processing fee shown for ACH example
| Not stated on the pages we read |
| Pass or payout rates it publishes | 2025: 16.8% of Trading Combines passed In fulltopstep.com2025: 16.8% of Trading Combines passed; 33.3% of funded-level participants received a payout; 0.71% of XFA traders called up to Live
| Not stated on the pages we read |
| Access | ||
 US traders | Says it serves US traders In fullhelp.topstep.comyes (stated: US-only payout methods for 'U.S. domestic Traders'; US not on ineligible list)
| Says it serves US traders In fullapextraderfunding.comyes (stated: 'Services are intended for U.S. users only'; US not on restricted list)
|
| Platforms | ||
| Platforms | TopstepX (own platform, built by ProjectX Trading LLC)Sourcetopstep.com
| Tradovate, Rithmic, WealthCharts (chosen as the vendor at…In fullapextraderfunding.comTradovate, Rithmic, WealthCharts (chosen as the vendor at checkout)
|
| Company | ||
| Company | TopstepTrader, LLC (Trading Combine and XFA) In fulltopstep.comTopstepTrader, LLC (Trading Combine and XFA); TopstepFunded LLC (Live); parent Topstep LLC
| Apex Trader Funding Inc. Sourceapextraderfunding.com
|
| Where it is registered | Topstep LLC: Delaware LLC In fulltopstep.comTopstep LLC: Delaware LLC; TopstepFunded LLC: Illinois LLC; address Chicago, IL; terms governed by Delaware law
| Address Austin, TX (mailing address only In fullapextraderfunding.comAddress Austin, TX (mailing address only; state of incorporation not stated)
|
| Regulatory status it states | Affiliate Topstep Brokerage LLC is stated to be a registered IB and NFA… In fulltopstep.comAffiliate Topstep Brokerage LLC is stated to be a registered IB and NFA member (NFA ID 0567079); the prop programme entity is not stated to be registered
| Firm states it is not a broker-dealer, futures commission merchant or… In fullapextraderfunding.comFirm states it is not a broker-dealer, futures commission merchant or financial advisor; simulated trading only
|
Not stated means not on the pages we read; it does not mean "no". Where both firms state one plain figure, less marks the lower cost or payout minimum, or the higher profit split, and more the other side. Values are each firm's own words (measured) unless tagged judged.
More on each firm
Topstep14 pages read · 16 of 16 terms stated
Apex Trader FundingPartly read: 7 pages · 13 of 16 terms stated
Other comparisons
Any two of the 50 futures prop firms in the ledger: the prop firm comparison. The pairs traders search for most each have a page:
| Comparison | Cheaper route to funded judged | Bigger profit split |
|---|---|---|
| Take Profit Trader vs Topstep | Only Topstep prices one | Only Topstep states one figure |
| Tradeify vs Topstep | Only Topstep prices one | Same, 90% |
| Bulenox vs Apex Trader Funding | Only Bulenox prices one | Only Apex Trader Funding states one figure |
| Take Profit Trader vs Apex Trader Funding | Neither prices one | Only Apex Trader Funding states one figure |
| MyFundedFutures vs Topstep | Topstep, $68 less | Only Topstep states one figure |
| Tradeify vs Take Profit Trader | Neither prices one | Only Tradeify states one figure |
| Lucid Trading vs Topstep | Only Topstep prices one | Same, 90% |
| Alpha Futures vs Topstep | Only Topstep prices one | Same, 90% |
| Apex Trader Funding vs MyFundedFutures | Only MyFundedFutures prices one | Only Apex Trader Funding states one figure |
| Apex Trader Funding vs Tradeify | Neither prices one | Apex Trader Funding, 100% vs 90% |
| Lucid Trading vs Tradeify | Neither prices one | Same, 90% |
| MyFundedFutures vs Take Profit Trader | Only MyFundedFutures prices one | No single figure at either |
| Lucid Trading vs Take Profit Trader | Neither prices one | Only Lucid Trading states one figure |
Where this comes from
- One source
- The US Futures Prop Access Ledger (provisional): 2387 of 2616 quotes matched the saved page text. CSV.
- US access
- Graded as on the ledger: says it serves US traders, US not on its restricted list, or not stated.
- The 50K route
- Price plus activation fee, first-time pass (judged). See cost per payout.
- How much each firm states
- Counted term by term on the Fine Print Index.
Spotted a mistake? Tell us, with evidence. Fixes are logged on the corrections page.