- Topstep founded 2012 — fourteen years of operating history, the oldest futures-only prop firm
- Chicago-based, focused on CME futures
- Monthly subscription model rather than a one-time upfront fee
- 90/10 split for accounts created after January 12, 2026; older accounts keep 100% of the first $10,000, then 90/10
- Live Funded path available, with real market exposure
Topstep is the oldest futures-only prop firm and the default first choice for US traders working in the CME products. The Chicago-based operator has been running since 2012 and uses a monthly subscription Combine — a structure that rewards traders who can pass within a single billing cycle. In our review, the firm sits in the highest trust tier, with the caveat that its futures-only focus and US time zone make it less universally applicable than FTMO or The5%ers.
Strengths
- Fourteen years of operating history — the longest in the industry
- US-based, operating within a CFTC-regulated environment
- Real-market Live Funded option once you have shown sustained performance
- Strong reputation across the US futures community
Concerns
- Futures-only — no FX, CFD, or crypto
- US-centric time zone, which is challenging for Asian traders
- Monthly subscription means accumulating cost during prolonged challenges, by contrast with one-time evaluation fees
Compare
| Topstep | Apex | Earn2Trade | |
|---|---|---|---|
| Founded | 2012 | 2021 | 2016 |
| Subscription | Monthly | Monthly | Monthly |
| Trust | Highest | High | High |
→ Topstep review → For FX/CFD instead: FTMO or The5%ers. Note: 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.
Speech and review clauses (checked 21 August 2026)
We read Topstep’s Terms of Use and found no clause restricting what traders may say about the core service or payouts. The Rewards (promotions) section, however, lets Topstep bar a user from promotional rewards — and cancel rewards already earned — if the user “disparages Topstep or its products or services, Topstep’s competitors or their products or services”, at Topstep’s sole and final discretion. Extending a disparagement trigger to criticism of competitors is unique among the 18 firms we checked; the scope, though, is promotional rewards only, which is materially narrower than clauses at firms that forfeit trading profits over criticism. Details in the Review-Restriction Tracker.