Topstep vs Apex (A Comparative Analysis)

Imagine waking up one morning to find your trading account a staggering 50 thousand dollars richer. Sounds enticing. The good news is that many traders have found success in achieving overnight fortunes in the futures market. If you've ever searched for how to make 50k overnight, you're not alone—and while it’s not easy, it's possible with the right mix of skill, discipline, and opportunity. The even better news is that you can do it with the right plan and tools. In this article, we’ll compare two popular prop firms, Topstep and Apex, to help you understand which can help you achieve your trading objectives. Both firms offer excellent funding programs, but key differences exist in their funding models, fees, trading rules, and payout structures. Understanding these differences will help you determine which is right for you and your goals.

Goat Funded Trader’s prop firm solution can be valuable for achieving objectives such as clearly understanding the key differences in funding models, fees, trading rules, and payout structures between Topstep and Apex.

What is Topstep?

Topstep is a proprietary futures trading firm based in Chicago. Founded in 2012, Topstep helps traders develop their skills and achieve consistent profitability without risking their capital. The firm built its reputation by offering traders a structured path to trading live capital through an innovative evaluation program called the Trading Combine. 

This program simulates real-market conditions, allowing traders to demonstrate their ability to manage risk and generate profits before being granted access to a funded trading account. Topstep’s mission centers on fostering disciplined trading habits and providing a supportive community to help traders grow professionally. 

Why is Topstep Unique?

Topstep’s Trading Combine is a unique, one-step evaluation process where traders must reach specific profit targets while adhering to strict rules on daily losses and maximum drawdowns. This ensures that only those who can trade consistently and responsibly qualify for funding. 

Upon successful completion, traders receive an Express Funded Account with preset buying power, which varies by account tier: 

• $50,000
• $100,000
• $150,000

The program’s design encourages traders to develop strong risk management skills and discipline, which are crucial for long-term success in the futures markets. 

How Much Can I Make With Topstep? 

Topstep’s payout structure is designed to reward traders generously while maintaining a sustainable business model. Traders keep 100% of their profits up to the first $10,000 earned, after which a 90/10 profit split applies, with the majority of profits going to the trader. This payout policy incentivizes traders to perform well and provides a clear financial reward for their efforts. 

Traders can request payouts up to four times a month, with payments processed quickly via ACH or international wire transfers. This flexibility and transparency in profit sharing make Topstep an attractive option for aspiring futures traders. 

What Features Does Topstep Offer? 

Beyond funding, Topstep offers an advanced trading platform called TopstepX. This platform integrates powerful charting tools, real-time market sentiment indicators, and live broadcasts to inform and motivate traders. The platform supports trading popular futures contracts, including: 

• Indices
• Commodities
• Micro contracts

It also caters to various trading styles and preferences. 

Topstep also provides extensive educational resources and a trader community, reinforcing its commitment to helping traders improve continuously and achieve sustainable success in the competitive futures trading landscape.

What Is Apex Trader Funding?

Apex Trader Funding is a proprietary trading firm based in Austin, Texas, specializing exclusively in futures markets. Founded in 2021, the company was created to enhance the trader funding model by offering more competitive payouts and a more trader-friendly approach than existing firms. 

Apex focuses on futures trading, which involves contracts to buy or sell commodities at predetermined prices on future dates. It is known for its high liquidity and ability to leverage prominent positions with relatively small capital. The firm has rapidly grown into a global community with tens of thousands of members spanning over 150 countries, establishing itself as a leading player in the futures prop trading space.

The Evaluation Process at Apex Trader Funding

The evaluation process at Apex Trader Funding is notably straightforward, consisting of just one step. Traders who pass this evaluation receive an initial funded account of $25,000, with no profit sharing, meaning they keep 100% of their gains up to that amount. Beyond the initial $25,000 profit, a profit split of 90% to the trader and 10% to Apex applies. 

Traders can scale their accounts up to a maximum balance of $300,000. This structure is designed to reward successful traders generously while providing a clear path to scaling capital. Apex allows traders to request two monthly profit payouts, which is more frequent than many competitors.

Risk Management and Trading Flexibility at Apex Trader Funding

One of Apex Trader Funding's key advantages is its risk management system, which automatically caps position sizes to prevent traders from exceeding their limits and risking account termination. This contrasts with other prop firms, where breaching position limits can result in immediate account loss. 

The firm also imposes no daily drawdown limits, which provides traders with more flexibility and less pressure to meet strict daily loss thresholds. Apex supports multiple trading platforms, such as Rithmic/NinjaTrader and Tradovate/NinjaTrader. It offers tools such as trade copiers for managing multiple accounts and algorithmic trading, appealing to various trading styles and strategies.

Pricing, Fees, and Payouts at Apex Trader Funding

Apex Trader Funding’s subscription fees vary depending on the account size and include necessary data feeds and platform costs. The firm prides itself on quick payouts, responsive customer support, and continuous improvements to its trading environment. Traders can trade during holidays and news events within specified hours, and the evaluation period requires as little as seven trading days to qualify. 

This combination of generous profit splits, flexible risk controls, and efficient operational support makes Apex Trader Funding an attractive option for futures traders seeking funded capital without risking personal funds.

Related Reading

• What Happens if You Lose Money on a Funded Account
• How to Become a Prop Trader
• What is a Funded Trading Account
• What's a Prop Firm
• How to Become a Good Trader
• Pass Prop Firm Challenge

Topstep vs Apex

Profit-sharing

Apex Trader Funding and Topstep implement profit-sharing models that initially allow traders to retain 100% of their profits up to a certain threshold, after which profits are split between the trader and the firm. 

Apex stands out by permitting traders to keep all profits up to $25,000, significantly higher than Topstep’s threshold of $10,000. This means that Apex traders can enjoy a longer period of full profit retention before entering the profit-sharing phase, potentially increasing their earnings without initially sharing them with the firm. After reaching these thresholds, both firms apply a profit split, where traders receive 90% of subsequent profits, while the firm retains 10%. 

This 90/10 split is quite favorable compared to many other proprietary trading firms, making Apex and Topstep attractive for traders seeking to maximize their income. Apex’s higher initial full-retention amount can be decisive for traders aiming for larger upfront gains before profit sharing begins. 

Cost

Apex Trader Funding offers a straightforward pricing model with two primary options: monthly or one-time lifetime fees, which vary based on account size and trading platform. Monthly fees typically range from $85 to $105, while lifetime fees can be between $130 and $360. This flexibility enables traders to select a payment plan that best suits their trading style and financial situation, thereby providing greater control over their costs. 

In contrast, Topstep’s pricing structure is more layered and complex. It includes a monthly Trading Combine fee of $49 for a $50,000 account, a one-time activation fee of $149, additional costs for advanced market data at $39 per month, and platform fees. Unlike Apex, Topstep does not offer a lifetime fee option, which can lead to higher cumulative costs over time. The multiple fees and ongoing costs may be a consideration for traders who prefer a more straightforward and potentially more affordable fee structure. 

Flexibility

Regarding tradable assets, Apex and Topstep cover common futures markets such as: 

• Equity
• Forex
• Agricultural
• Interest rate
• Metals futures

Apex extends its offerings to include energy futures, cryptocurrency futures, micro-futures, EUREX instruments, and even U.S. Immigration and Customs Enforcement instruments, providing a broader range of trading opportunities. Topstep includes oil, natural gas, and some financial futures, but its asset variety is somewhat narrower than Apex's. Apex also offers more flexibility in trading style and scaling. 

Scaling Freedom and Trading Flexibility: Key Differences Between Apex and Topstep Models

Traders can follow various scaling plans that reward consistent profits without a maximum earning cap, as long as they adhere to Apex’s evaluation rules. Topstep employs an incremental growth model tied to its evaluation process, allowing traders to increase their position sizes as their performance improves gradually. 

Topstep enforces a “day trading only” policy, restricting trades to short-term positions, while Apex places no such time-of-day limitations and offers traders the freedom to trade whenever they prefer. 

Risk Management

Apex provides traders with greater autonomy in managing risk, enabling them to set personalized risk parameters based on their tolerance levels. This flexibility empowers traders to tailor their strategies and risk controls to their individual preferences. 

Topstep enforces stricter risk management rules, including specific daily loss limits and maximum position sizes, which are designed to protect both the trader and the firm from excessive losses. 

Risk Management and Profit Targets: A Closer Look at Apex vs Topstep

Both firms impose limits on daily and overall drawdowns to safeguard against significant losses within a single day or cumulatively. Apex rewards traders who reach profit milestones while adhering to risk limits, encouraging disciplined trading. 

Topstep’s profit targets and risk controls are closely linked, requiring traders to remain within prescribed risk parameters to maintain their funded status. This structured approach instills discipline but can feel restrictive compared to Apex’s more flexible policies. 

Educational Resources

Both Apex and Topstep offer comprehensive educational resources to support trader development. These include trading courses, webinars, strategy guides, and active trader communities informing participants about market trends and trading techniques. Such resources are valuable for traders at all levels seeking to improve their skills and stay updated on industry developments. Apex supplements its educational offerings with personalized one-on-one coaching from experienced mentors, providing tailored guidance and support. 

Topstep, meanwhile, offers a more comprehensive range of educational materials and structured performance reviews, designed to help traders refine their strategies systematically. This difference means Apex may appeal more to traders who prefer individualized mentorship, while Topstep caters to those who benefit from a broader range of structured learning tools. 

Trading Platform

Apex and Topstep support a variety of popular trading platforms, including: 

• ATAS
• Bookmap
• Jigsaw
• MotiveWave
• NinjaTrader
• Quantower
• Sierra Chart

This wide platform support ensures traders can use familiar and preferred tools to execute their strategies effectively. 

Topstep additionally offers its proprietary platform, TopstepX, which is designed to provide an integrated trading experience tailored to its funded traders. Apex does not have a proprietary platform but compensates with extensive platform compatibility. This difference may influence traders who prefer a proprietary solution with specialized features versus those who value flexibility in choosing their trading software. 

Related Reading

• Are Funded Accounts Legit‍
• Are Prop Firms Worth It‍
• How to Become a Professional Trader
• How Do Prop Firms Make Money
• No Evaluation Prop Firms
• Best Prop Firm for Swing Traders
• How to Get Into Prop Trading

Making the Best Choice for Your Funded Trading Career

Choosing the Right Funded Trading Program for Your Career

Selecting a funded trading program can significantly impact your career. Topstep and Apex Trader Funding are well-established firms in this area, each with its unique structure and benefits. Topstep has a more traditional, structured approach, featuring a two-step evaluation process emphasizing discipline through strict risk controls and a gradual path to funding. This appeals especially to traders who benefit from a regimented framework and coaching support, helping them build solid trading habits. 

In contrast, Apex Trader Funding offers a streamlined, single-step evaluation with fewer restrictions, broader market access, including crypto futures, and faster access to capital, which suits traders who prefer more freedom and flexibility in their trading style.

Comparing Costs and Payout Models of Funded Trading Programs

The cost and payout models of funded trading programs can vary widely and affect your bottom line. In this regard, Apex Trader Funding is often the more affordable and trader-friendly option. Apex’s evaluation fees tend to be lower, and the firm frequently offers discounts that further reduce costs. Apex includes market data fees in its pricing, unlike Topstep, which charges separately for data subscriptions. 

Apex also allows traders to keep 100% of profits up to $25,000 before applying a 90% profit split, whereas Topstep’s no-split threshold is $10,000. Payouts with Apex are faster and less restrictive, with traders able to withdraw profits after just 10 trading days and without waiting for milestones. Topstep’s payout process can be slower and more conditional. These factors make Apex attractive to experienced traders seeking quick funding with fewer hurdles.

Finding a Middle Ground with Goat Funded Trader

For traders who want a compromise between strict structure and total freedom, Goat Funded Trader offers a compelling alternative. This firm combines flexibility with competitive fees and advanced trading technology, and strongly emphasizes trader education and community support. 

Goat Funded Trader’s programs are designed to provide scalable capital with transparent rules, fostering an environment where traders can grow sustainably over time. 

Why Goat Funded Trader Stands Out: Flexible Challenges, Instant Access, and Guaranteed Payouts

Goat Funded Trader gives you access to simulated accounts up to $800K with the most trader-friendly conditions in the industry: no minimum targets, no time limits, and triple paydays with up to 100% profit split. Join over 98,000 traders who've already collected over $9.1 million in rewards, all backed by our 2-day payment guarantee with a $500 penalty for delays. 

Choose your path to funding through customizable challenges or start trading immediately with our instant funding options. Sign up to Get Access to up to $800K today and 25-30% off.

Related Reading

• Best Prop Trading Firms for Beginners‍
• Prop Trading Strategies‍
• What Is Prop Trading
  
• How To Get A Funded Trading Account
• What Is A Prop Firm Challenge
• Best Prop Trading Firms

Get 25-30% off Today - Sign up to Get Access to Up to $800K Today

Goat Funded Trader gives you access to simulated accounts up to $800,000 with the most trader-friendly conditions in the industry. There are no minimum targets, time limits, or triple paydays with up to 100% profit split. 

Over 98,000 traders have already collected over $9.1 million in rewards, all backed by our two-day payment guarantee with a $500 delay penalty. Choose your path to funding through customizable challenges or start trading immediately with our instant funding options. Sign up for up to $800,000 today, and get 25 to 30% off.  

How to Make Money Fast with Goat Funded Trader

Goat Funded Trader offers a unique and innovative way to make money fast in the trading world. After passing an evaluation or instant funding process, you can start trading with a simulated account funded with real money. 

Any profits you make are yours to keep and can be withdrawn almost immediately. Trading with Goat Funded Trader can help you make money fast and build substantial wealth over time.

‍