Topstep Review: Is a Futures Combine Better Than a Forex Prop Firm?
Topstep's Trading Combine costs from $49 a month and lets you trade CME euro, yen and gold futures for a 90% profit split. We check the fees, loss limits and payout rules against a forex CFD prop firm.
7.9/10
A serious, rules-first route to a funded account for traders who can work in CME futures instead of forex CFDs. Fees are modest at $49 to $199 a month, the 90% split is strong, and currency and gold contracts are all available. The end-of-day trailing loss limit is unforgiving, and no retail forex is allowed. Skip it if you must trade spot pairs or hold positions through wide swings.
Best for
Futures-minded traders of currency and gold contracts who want a rules-based funded path
Combine prices are low: $49, $99 and $199 a month for the 50K, 100K and 150K sizes
Funded accounts keep 90% of profits, with Topstep taking 10%
Every tradeable CME product is open, including Euro FX, yen, pound and gold futures
Payouts can start after three trading days on the consistency path
A Daily Loss Limit option earns a discount of $10 to $30 a month
What does not
No retail forex or CFDs: spot pairs and XAU/USD CFDs are not tradeable
The trailing maximum loss limit is checked in real time and closes the account
The $149 activation fee is charged each time you earn a funded account
Level 2 depth of market costs an extra $38 a month
Specs
Combine price, Standard
$49 (50K), $99 (100K), $199 (150K) a month
No Activation Fee path
$95, $149 and $229 a month with $0 activation
Activation fee
$149 per Express Funded Account earned on the Standard path
Profit targets
$3,000, $6,000 and $9,000 (third-party figures)
Maximum loss limit
$2,000, $3,000 and $4,500 by account size
Profit split
90% to the trader, 10% to Topstep
Standard payout path
Five winning days of $150+, up to 50% of balance, capped at $5,000
Consistency path
Three days and a 40% consistency target, capped at $6,000
Data fees
Level 1 included, Level 2 depth $38 a month
Currency futures
Euro FX, pound, yen, Canadian dollar, Swiss franc and micro contracts
Gold futures
Gold (GC) and Micro Gold (MGC)
Platform
TopstepX
Most prop firm reviews start with the profit split. Start with the market instead. Topstep does not let you trade forex in the normal retail sense, and nor does it offer CFDs. You trade CME futures, and the choice between a futures Combine and a forex CFD challenge rests on that.
Trading futures carries a real risk of loss, funded-account fees are not refunded when you fail, and none of this is personal advice.
What you can trade, and what you cannot
Topstep opens every tradeable CME Group product within permitted hours. For a currency trader that means Euro FX (6E), the pound (6B), the yen (6J), the Canadian dollar (6C), the Swiss franc (6S) and their micro versions. For gold, it means Gold (GC) and Micro Gold (MGC). Retail spot forex, CFDs, options and US stocks are not permitted (Topstep help centre).
Futures trade on a central exchange, with set contract sizes and daily settlement, not a dealer's spread. Some traders prefer that. Others find a micro contract less flexible than a 0.01 lot CFD. Our FTMO review covers the forex CFD alternative.
topstep.com
The Our Program page, which introduces the Trading Combine
The Combine, priced out
You pay monthly while you try to pass. On the Standard path the fees are $49 for the 50K account, $99 for 100K and $199 for 150K. The No Activation Fee path costs $95, $149 and $229 instead, with no fee later. Resets cost the same as a month's fee, from $49 to $229 (Topstep pricing help).
The catch is the activation fee. On the Standard path, Topstep charges $149 once for every Express Funded Account you earn. Compare the two paths before you pick: if you expect to pass within a month or two, Standard is cheaper. If you need several months, the flat higher fee may win.
Extras matter too. Level 1 data is included, but Level 2 depth of market costs $38 a month. A Responsible Trading discount takes $10, $20 or $30 off if you add a Daily Loss Limit.
Third-party trackers (PropDataLab) list profit targets of $3,000, $6,000 and $9,000 for the three sizes. We could not find those on the pages we read, so check them on your dashboard before you pay.
The rule that decides who passes
Every account has a maximum loss limit: $2,000 on 50K, $3,000 on 100K and $4,500 on 150K. It is based on your highest end-of-day balance, and a breach closes the account for good, according to the Express rules. Trackers add that it is measured in real time on open profit and loss, so a spike against an open position can end you before the day's close.
topstep.com
The Express Funded Account rules page, where the loss limits and payout paths are listed
That is what traps swing traders. A trade that ends well but dips hard in between can still breach the limit. Day traders in liquid session hours handle it better.
Payouts and the 90% split
Once funded, you keep 90% of profits. Topstep gives two routes to a payout:
Standard: five winning days of $150 or more, then up to 50% of the balance, capped at $5,000.
Consistency: at least three trading days and a 40% consistency target, then up to 50% of the balance, capped at $6,000.
The marketing page promises payouts of up to $12,000 in as little as three days, and we read it as a best case, not a typical first request.
topstep.com
The instant payouts page, which carries the firm's own payout claims
Note the framing: the Combine itself is a test in simulated market conditions, as the program page says, so your pass is earned on paper before any payout is possible.
The platform
TopstepX is the platform Topstep promotes for trading the Combine and funded accounts, with real-time data and risk tools built in. It lists Gold (GC) and Micro Gold (MGC) among its products. Level 2 depth is the paid extra mentioned above, so budget for it if you trade by the order book.
topstep.com
The TopstepX page: the platform used for the Combine and funded accounts
Who should sign up
Sign up if you already think in futures, trade 6E or gold during the busy US session, and want a fixed cost with clear rules. Skip it if you need spot forex, like to hold trades for days, or are unwilling to accept that the fee is gone if you fail.
We score it 7.9. The rules are clear, the fees are fair, and the products suit a currency or gold trader. The real limit is the futures-only world.
7.8
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