TL;DR
Apex Trader Funding and Topstep are the two flagship names in US futures prop trading. Both run on CME products, but they charge differently: Topstep bills monthly, while Apex has sold new evaluations as a one-time fee since its 1 March 2026 relaunch. The decision comes down to operating record versus cash-flow design.
| You prioritize… | Pick |
|---|---|
| Longest operating record | Topstep (since 2012) |
| A flat 100% split (with payout caps) | Apex (100% of approved payouts; max 6 per account) |
| Lowest entry price | Topstep ($49/mo and up) |
| Fastest payout eligibility | Apex (5 qualifying days, roughly weekly at fastest) |
| 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 fast 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 — one-time pricing since the March 2026 relaunch
| Account size | Monthly |
|---|---|
| $25,000 | $167+ (one-time) |
| $50,000 | $167+ |
| $100,000 | $207+ |
| $150,000 | $297+ |
Since 1 March 2026 Apex charges a single up-front evaluation fee with no rebill, and the evaluation expires 30 days after purchase with no resets, so the model rewards traders who expect to settle it quickly. Accounts bought before that date remain on the old monthly billing until cancelled. After passing, an activation fee applies — confirm the current amount on Apex’s own pricing page.
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 — a flat 100% at Apex, but with hard caps
Both firms rewrote their splits in early 2026. Apex retired its old products on March 1, 2026; Topstep dropped its 100% window for accounts created after January 12, 2026. Here is the current picture.
| Apex (accounts from Mar 1, 2026) | Topstep | |
|---|---|---|
| Split | 100% of each approved payout | 90/10 from the first dollar (accounts predating Jan 12, 2026 keep the first $10,000 at 100%) |
| Caps | Per-payout maximums ($1,000-$5,000 by size and payout number); max 6 payouts, then the account closes | No lifetime payout cap |
Apex’s design is now a flat 100% split — but each account can pay out at most six times, with a ladder of per-payout maximums, before it closes and you must pass a new evaluation. The famous first-$25,000-at-100% window applies only to Legacy accounts purchased before March 1, 2026. Details in the Apex payout guide.
4. Payout cycle — qualifying days on both sides
| Apex | Topstep | |
|---|---|---|
| Payout eligibility | 5 qualifying trading days (size-based minimum daily profit); roughly weekly at fastest | Per winning-day requirement (five $150+ days) |
| Payout transparency | Steady stream of public payout posts | Cumulative payout totals published officially |
On current Apex accounts a request needs five qualifying trading days — days meeting a size-based minimum daily profit ($100 on a $25K up to $350 on a $150K) — plus a $500 minimum, a balance above the Safety Net, and a 50% consistency rule, so it is not unconditional cash on demand. The 8-day cycle Apex was known for now applies only to Legacy accounts.
Topstep does not run a fixed cycle: you request a payout each time you meet the winning-day requirement (five $150+ days on the standard path, $125 minimum). It publishes cumulative payout figures, which keeps its transparency at a high standard. Details in the Topstep payout guide.
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 | No |
| NinjaTrader | Yes | No |
| TradingView | Yes | No |
| TopstepX (in-house) | No | Yes |
| Quantower connection | No | Yes |
Checked 2026-08-22: Topstep has consolidated onto its in-house TopstepX platform (Quantower via TopstepX credentials is the one external option), and NinjaTrader, Tradovate and TradingView are no longer listed in its help centre. If you want to keep trading on NinjaTrader, Tradovate or Rithmic, that points to Apex.
7. Who each firm fits
Apex fits you if
- You want a flat 100% split on approved payouts (and can live with the six-payout cap)
- You want payout eligibility as often as roughly weekly
- 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
- Flat 100% split (capped at six payouts), roughly weekly payout eligibility, 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, so verify the latest conditions on the official sites. Final decisions are your own — this site does not provide investment advice.
Recommended firms
FTMO — the industry leader’s track record
11 years in operation (since 2015). Publishes one of the industry’s largest cumulative payout records.
The free trial lets you test everything at no cost, and the 2-Step Challenge fee is refunded with your first payout after passing (no refund if you fail). See the FTMO free trial guide.
The5%ers — for building up from a small ticket
Operating since 2016. Three plans run in parallel — the one-step Hyper Growth, the two-step High Stakes and the three-step Bootcamp — with fees from $19. The profit split climbs in steps toward 100%, but a flat 3.5% is deducted from every withdrawal. On 2026-08-01 this site re-rated The5%ers from High to Low trust (★4.6→3.3) after the firm itself acknowledged payout delays in March 2026. If you use it, keep the ticket small and confirm your first payout arrives before scaling up.
→ Visit The5%ers official site (how to use referral code “HZZS4”)