Topstep vs Apex
The two biggest futures prop firms, on the rules that decide whether a system survives.
Topstep and Apex Trader Funding are the two biggest names in futures prop, and most comparisons stop at eval price. That is the wrong lens for a systematic trader. What actually matters is how the drawdown works (it decides whether an automated strategy survives a normal pullback), how you get paid, and whether you can connect your own automation. Prices and promos change monthly; the structure changes rarely, so this is about the structure.
The bottom line
Topstep is the lower-friction default: end-of-day trailing drawdown, fast weekly payouts, and an official API (TopstepX/ProjectX) that makes it the easier of the two to automate. Apex is the higher-ceiling optimizer's pick: 100% of your first $25K per account and aggressive account-stacking, at the cost of a historically tighter drawdown and more payout friction. For a builder: Topstep to automate cleanly, Apex to stack size.
Feature by feature
| Feature | Topstep | Apex |
|---|---|---|
| Fee model | Monthly subscription (~$49–149 by size) | One-time eval fee (post-4.0); frequent 70–90% promos |
| Account sizes | $50K / $100K / $150K | $25K–$300K + $100K Static |
| Drawdown type | End-of-day trailing (room to breathe intraday) | Historically intraday trailing; 4.0 defaults to EOD |
| Profit split / retention | 90/10 (legacy 100% of first $10K) | 100% of first $25K per account, then 90/10 |
| First payout requirement | 5 winning days ($150+), then weekly | Historically 8 winning days; automated ~5 business days |
| Consistency rule | 50% in the Combine (eval); none on standard funded | Varies by version (historically 30% funded) |
| Platform + data | TopstepX (ProjectX) | Rithmic / Tradovate / WealthCharts (NinjaTrader incl.) |
| Automation / API | Official TopstepX (ProjectX) API: build your own | Trader automation via Rithmic/Tradovate; stack-friendly |
FAQ
Is Topstep or Apex better for automated trading?
Topstep, for most builders: it exposes an official TopstepX (ProjectX) API you can build automated strategies against, and allows trader-owned automation in the evaluation and Express Funded accounts (not the Live Funded Account). Apex allows automation too, via its Rithmic/Tradovate platforms, and is popular for running strategies across stacked accounts. Both ban HFT and VPS/remote-server automation: trading must originate from your own device.
What is the real difference between Topstep and Apex?
Drawdown and payout structure. Topstep uses an end-of-day trailing drawdown that recalculates at the close, giving trades room to breathe intraday. Apex historically used an intraday trailing drawdown (its 4.0 update in 2026 moved the default to end-of-day). Apex's headline is keeping 100% of your first $25K per account; Topstep's is faster, lower-friction payouts.
Which is cheaper, Topstep or Apex?
It depends on timing. Topstep bills monthly (around $49 for a 50K account). Apex moved to one-time evaluation fees and runs frequent 70–90% promos, which can make entry very cheap. Reconfirm current pricing on each firm's site. Prop pricing changes constantly.
Which has the better profit split?
Apex, on paper: 100% of your first $25K in payouts per account, then 90/10, versus Topstep's 90/10 (with a legacy 100%-of-first-$10K tier for older accounts). Apex's account-stacking multiplies that first-$25K benefit across accounts.
Which should a systematic futures trader choose?
If you want the cleanest path to automating with an official API and low payout friction, Topstep. If you want maximum payout ceiling and plan to stack accounts, Apex, provided you can live with the tighter drawdown mechanics. Either way, your edge is the system you connect, not the firm.
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