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Comparison · trading-tournaments.com

TopstepvsApex Trader Funding

Topstep is the safer, more established pick with the longest payout history in futures prop. Apex is the aggressive discounter with a bigger 100% profit tier ($25K vs $10K) and a promo cycle that can drop entry cost 50-90%. For a first funded account, Topstep offers the cleaner credentials story. For scaling multiple accounts on tight capital, Apex's promos and multi-account model win. Both use trailing max drawdown, so the survival math is similar.

Topstep

Since 2012

The founding-era futures prop firm. Since 2012.

Key facts
Evaluation
Combine (single phase)
Profit target
6% of account size
Max drawdown
Trailing, ~5% of account
Minimum trading days
2
Profit split
100% on first $10K, 90% after
Cost model
Monthly subscription ($49 to $199)
Pros
  • Longest-running futures prop firm — founded 2012.
  • 100% profit split on the first $10,000 in profits per funded account.
  • Only 2 minimum trading days required.
  • Strong reputation for consistent monthly payouts.
Cons
  • Trailing max drawdown is restrictive relative to absolute-drawdown firms.
  • Monthly subscription compounds cost if you take multiple months to pass.
  • Rarely runs promo discounts.
Best for

Futures traders who want the most established brand and are confident of a fast Combine pass within 1-2 months.

Apex Trader Funding

Since 2021

Aggressive discounting. Larger scaling ceiling.

Key facts
Evaluation
Single-phase Evaluation
Profit target
6% of account size
Max drawdown
Trailing, ~5% of account
Minimum trading days
7
Profit split
100% on first $25K, 90% after
Cost model
Monthly subscription, frequent 50-90% off promos
Pros
  • Frequent 50% to 90% off promotional discounts on Evaluation subscriptions.
  • 100% profit split on first $25,000 vs Topstep's $10,000.
  • Multiple account program allows up to 20 funded accounts simultaneously.
  • Trader-friendly scaling plan.
Cons
  • Founded 2021 — shorter track record than Topstep.
  • 7 minimum trading days is higher than Topstep's 2.
  • Some historical operational complaints (payout delays, rule interpretation).
Best for

Futures traders comfortable timing discount promos and running multiple accounts in parallel.

Cost model and discounts

Topstep prices Combines at $49 to $199 per month at posted rates and rarely discounts. Apex runs Evaluations at similar list prices but discounts them 50-90% off during regular promo cycles that hit every few weeks. A $167 Apex Evaluation typically sells for $50-$85 during a promo. Over multiple funded accounts, the cumulative saving from Apex's discount cycle can be substantial. Topstep's straight pricing is more predictable but structurally more expensive at posted rates.

Profit split thresholds

Both firms pay 100% of profits up to a first-threshold, then 90% after. Topstep's threshold is $10,000. Apex's threshold is $25,000. On a $50,000 account with strong performance, an Apex trader keeps 100% of the first year of profits in most cases. A Topstep trader hits the 90% split faster. On aggregate, effective take-home is close, but Apex has a small edge at the payout level for consistent earners.

Track record and trust

Topstep has been running since 2012 with a well-documented payout history and strong reputation across trader forums and Trustpilot. Apex started in 2021 and has grown fast — big volume, big scaling program, active discount promos. Trader reviews of Apex are mixed: many positive payout confirmations plus a subset of complaints about payout speed and rule interpretation. Topstep is the safer institutional-story pick; Apex is the discount-and-scale pick.

Multi-account model

Topstep supports one active Combine per trader plus one active funded account. Apex explicitly encourages running multiple Evaluations and up to 20 funded accounts simultaneously. If your strategy pushes contract size and you want to run 5-10 accounts in parallel with the same edge, Apex is the operationally simpler pick. For single-account traders, this doesn't matter.

Frequently asked questions

Is Topstep or Apex older?

Topstep, by a wide margin. Topstep was founded in 2012; Apex in 2021. Topstep has a nine-year longer payout track record.

Which is cheaper, Topstep or Apex?

Apex is cheaper on promo pricing. Its Evaluations regularly sell 50-90% off, dropping a $167 subscription to $50-$85. Topstep prices at posted rates without regular promos. Wait for an Apex promo if cost matters most.

Do both firms use trailing max drawdown?

Yes. Both firms use trailing max drawdown of roughly 5% of account size. The ceiling follows equity up but never back down. This makes the survival math harder than firms with absolute drawdown.

Can I run multiple accounts on either firm?

Yes on both, but Apex is much more permissive. Apex allows up to 20 simultaneous funded accounts and encourages the multi-account model. Topstep allows one active Combine plus one funded account at a time.

Which has better profit split for small traders?

Apex, marginally. Apex pays 100% on the first $25,000 in profits per funded account. Topstep pays 100% on the first $10,000. Both drop to 90% after those thresholds.

Further reading

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