TL;DR
Apex Trader Funding and Topstep are the two flagship names in US futures prop trading. Both run on CME products and both charge monthly subscriptions, so the real decision comes down to operating record versus cash-flow design.
| You prioritize… | Pick |
|---|---|
| Longest operating record | Topstep (since 2012) |
| Larger 100%-split window | Apex (first $25,000) |
| Lowest entry price | Topstep ($49/mo and up) |
| Fastest payout cycle | Apex (8-day cycle) |
| Multiple accounts for diversification | Apex (up to 20) |
| Rithmic connectivity | Apex |
| A path to a live funded account | Topstep |
Full specs: Apex Trader Funding / Topstep
1. Operating record — a 14-year veteran vs a 2021 fast riser
| Apex | Topstep | |
|---|---|---|
| Founded | 2021 | 2012 |
| Base | USA | Chicago, USA |
| Years operating | 5 | 14 |
| Our rating | 4.0 (high trust) | 4.2 (high trust) |
Topstep, founded in 2012 and headquartered in Chicago — the CME’s home turf — carries one of the longest track records in the industry, with no regulatory enforcement actions on record. That longevity is its single strongest argument.
Apex is the young challenger. Launched in 2021, it has grown a large user base quickly, mainly in the US, on the strength of its 8-day payout cycle and multi-account policy. Payout posts circulate steadily on social media.
If operating history is your top criterion, Topstep wins this round.
2. Pricing — both subscriptions, different structures
Both firms charge monthly, but the price ladder and the options differ.
Apex — from $137/month, with lump-sum plans
| Account size | Monthly |
|---|---|
| $25,000 | $137+ |
| $50,000 | $167+ |
| $100,000 | $207+ |
| $150,000 | $297+ |
Apex’s distinguishing option is the lump-sum plan: pay several months upfront if you expect a longer grind, or stay monthly if you expect to pass fast. After passing, a one-time $85 activation fee applies.
Topstep — $49 to $149/month
| Account size | Monthly |
|---|---|
| $50K | $49+ |
| $100K | $99+ |
| $150K | $149+ |
Topstep’s entry point is meaningfully lower, and the subscription can be paused for months when you are not trading.
Either way, the structural risk is the same: the longer you take to pass, the more the monthly fees accumulate. Discounts move effective prices at both firms, so confirm current pricing on the official sites.
3. Profit split — Apex offers the wider 100% window
Both firms use the same shape — 100% first, 90% after — but the size of the 100% window differs by a factor of five.
| Apex | Topstep | |
|---|---|---|
| 100% window | First $25,000 | First $5,000 |
| Split after that | 90% | 90% |
If early cash flow after passing is your priority, Apex’s design is the more generous one. That said, Topstep’s 100% on the first $5,000 remains a distinctive setup in its own right, and both get your first withdrawals into 100% territory.
4. Payout cycle — 8 days vs weekly-to-monthly
| Apex | Topstep | |
|---|---|---|
| Payout cycle | 8-day cycle | Weekly to monthly |
| Payout transparency | Steady stream of public payout posts | Cumulative payout totals published officially |
Apex’s 8-day cycle is faster than the 14-day cycle common across the industry. Note that payout requests carry conditions — a minimum number of trading days (5+) and an account balance threshold — so it is not unconditional cash on demand.
Topstep pays on a weekly-to-monthly cadence and publishes cumulative payout figures, which keeps its transparency at a high standard.
5. Multiple accounts — Apex’s signature feature
Apex allows a single trader to hold up to 20 accounts, which enables genuine strategy diversification.
- Hedging the same instrument in opposite directions across accounts is prohibited
- If one account fails, the others continue unaffected
- The activation fee applies per account
Treat multiple accounts as a way to run separate strategies, not as spare copies of the same trade. More accounts also mean more ways to breach the rules, so read the terms before subscribing. Details: Apex rules explained.
6. Platforms
| Apex | Topstep | |
|---|---|---|
| Rithmic | Yes | No |
| Tradovate | Yes | Yes |
| NinjaTrader | Yes | Yes |
| TradingView | Yes | Yes |
Both offer the standard US-futures stack, so existing NinjaTrader or Tradovate users can switch either way with little friction. If you specifically want Rithmic connectivity, that points to Apex.
7. Who each firm fits
Apex fits you if
- You want to maximize early cash flow through the $25,000 100% window
- You want payouts on the faster 8-day cycle
- You want to diversify across multiple accounts
- You want Rithmic connectivity
- You prefer a lump-sum plan to cap subscription creep
Topstep fits you if
- You put the 14-year operating record first
- You want the lowest entry price ($49/mo and up)
- You like the staged path: Trading Combine, Funded Account, then Live Funded
- You value officially published cumulative payout figures
Caveats common to both
- Futures only — no FX or CFDs. FX traders should look at FTMO instead
- The main sessions run on US market hours; outside the Americas that means late nights
- Both use a trailing drawdown that follows your equity high. See Apex rules and Topstep rules
Bottom line
- Track record and a cheap entry point → Topstep
- Wider 100% window, 8-day payouts, multiple accounts → Apex
- Both sit in our high-trust tier, and both share the same constraints: CME futures only, US session hours
- Running both in parallel, with distinct roles, is also a rational setup
Figures and terms change; always verify the latest conditions on the official sites. Always make your final investment decisions yourself. This site does not provide investment advice.
Recommended firms
The5%ers — for those who want to skip the evaluation
10 years in operation (since 2016). The Instant Funding pioneer, with profit splits scaling up to a maximum of 100%.
→ Visit The5%ers official site (how to use referral code “HZZS4”)
FTMO — the reassurance of the industry leader
11 years in operation (since 2015). Publishes one of the industry’s largest cumulative payout records.