Apex Trader Funding vs. TopStep – Which is Best For You?

Do you want to try futures trading but have a fear of blowing up your account? In the fast-paced world of futures trading, proprietary trading firms have emerged as game-changers, offering traders the opportunity to access substantial capital without risking their own funds. 

With these platforms, you can earn significant profits without risking your own capital while also gaining valuable trading experience. Two of the biggest players in this arena are Apex Trader Funding and TopStep Trader.

I’m here to break down the key differences between these two popular prop firms. Whether you’re a seasoned trader looking to scale up your operations or a newcomer eager to test your skills in the futures market, this comprehensive comparison will help you navigate the unique features, pros, and cons of Apex Trader Funding and TopStep Trader.

Pros and Cons of Apex and Topstep

Comparing Apex and TopStep Key Features

Overview of Apex Trader Funding

Apex Trader Funding offers futures traders a unique opportunity to access substantial capital through a streamlined, single-step evaluation process. This platform supports a broad range of futures contracts and integrates seamlessly with popular trading software such as NinjaTrader and TradingView, making it highly versatile for various trading styles.

• Read more: My Full Review of Apex Trader Funding

Key Features of Apex Trader Funding

• Pricing: Apex Trader Funding offers competitive pricing, with monthly fees ranging from $29 to $136.
• Reset Cost: If traders need to reset their evaluation, the cost is $80.
• Profit Share: Traders can keep 100% of the first $25,000 in profits, and 90% thereafter, providing a highly attractive profit-sharing model.
• Tradeable Assets: The platform supports a wide array of futures contracts, including Equity Futures, Foreign Exchange Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, Metals Futures, and Crypto Futures.
• Trading Platforms: Apex Trader Funding is compatible with numerous trading platforms, including Tradovate, Rithmic, NinjaTrader 8, ATAS, Bookmap, Quantower, Jigsaw Trading, Finamark, Edge Clear EdgePro X, MotiveWave, VolFix, Wealthcharts, and TradingView Charting.
• Risk Management: Traders benefit from a trailing drawdown mechanism based on the highest profit point, which provides flexibility while ensuring disciplined trading practices.

Trader-Friendly Features of Apex Trader Funding

• No Daily Loss Limits: Unlike many other prop firms, Apex Trader Funding does not impose daily loss limits, allowing traders more flexibility in their trading strategies.
• High Profit Splits: With 100% profit retention up to $25,000 and 90% thereafter, traders can maximize their earnings.
• Manage Multiple Accounts: Traders can manage up to 20 funded accounts simultaneously, providing ample opportunities to scale their trading activities.
• Frequent Payouts: Apex Trader Funding offers bi-monthly payouts, ensuring that traders have regular access to their profits.

Apex Trader Funding’s combination of flexible rules, high profit potential, and robust support for various trading platforms makes it an attractive option for traders looking to grow their trading careers without risking personal capital.

Overview of TopStep Trader

TopStep Trader is a leading proprietary trading firm that provides traders with the opportunity to earn funded futures trading accounts without risking their own capital. The journey begins with the Trading Combine, a simulated trading program where traders must demonstrate their skills and adhere to specific risk management rules.

Key Features of TopStep Trader

• Pricing: Monthly subscription fees range from $165 to $375.
• Reset Cost: Traders can reset their evaluation for $49 to $149, depending on the account size.
• Profit Share: Traders keep 100% of their first $10,000 in profits and 90% thereafter, offering a highly competitive profit-sharing model.
• Tradeable Assets: The platform supports a variety of futures contracts, including Equity Futures, Forex Futures, Agricultural Futures, Energy Futures, Interest Rate Futures, and Metals Futures.
• Trading Platforms: TopStep Trader is compatible with multiple trading platforms, including TopStepX, NinjaTrader, Tradovate, Quantower, Bookmap, CTS, Sierra Chart, and TradingView Charting.
• Risk Management: The platform employs strict risk management rules, including a Daily Loss Limit and a Maximum Loss Limit, to ensure disciplined trading.

Trader-Friendly Features of TopStep Trader

• Educational Resources: TopStep Trader offers extensive educational resources, including webinars, podcasts, and daily market analysis, to help traders improve their skills and knowledge.
• Community Support: Traders can benefit from a supportive community and access to professional insights through TopStepTV™, which broadcasts live trading sessions and market analysis.
• Structured Evaluation Process: The Trading Combine is a two-step evaluation process designed to test traders’ ability to manage risk and generate profits. Successful traders are rewarded with a funded account to trade live futures markets.
• High Profit Sharing: With a profit-sharing model that allows traders to keep 100% of their first $10,000 in profits and 90% thereafter, TopStep Trader offers a lucrative opportunity for successful traders.

TopStep Trader’s combination of rigorous evaluation, comprehensive educational resources, and strong community support makes it an attractive option for traders looking to advance their careers in futures trading without risking their own capital.

Who is Apex Trader Funding Best For?

Apex Trader Funding is perfect for futures traders looking to amplify their trading potential without risking their own capital. It caters to both newcomers and seasoned professionals who can consistently execute profitable strategies while managing risk effectively.

The platform is particularly well-suited for active traders who thrive on market volatility and appreciate the flexibility to trade during news events, provided it aligns with their strategy and can be explained. 

Apex is also ideal for those who prefer the option of paying a one-time lifetime fee instead of monthly payments once they unlock a funded account. Additionally, it supports traders aiming to grow multiple accounts simultaneously, making it an attractive choice for those focused on rapid account growth and scalability.

Who is TopStep Trader Best For?

TopStep Trader is tailored for experienced futures traders who seek to leverage larger capital without risking their own funds. It is particularly suitable for those who prefer the structure of monthly subscription fees over one-time charges during the evaluation phase.

This platform is ideal for traders who can adhere to strict risk management rules, value comprehensive educational resources, and appreciate high profit-sharing rates. TopStep Trader focuses exclusively on futures trading, offering a variety of contracts, including forex futures. It is best suited for disciplined traders who thrive under clear guidelines and aim to enhance their trading skills through a wealth of educational materials.

Apex vs. TopStep Pricing Structures Compared

TopStep Trader Pricing Explained

TopStep Trader provides a unique pathway to funded trading via their Trading Combine program. The evaluation phase involves monthly subscription fees ranging from $165 to $375, with the option to reset for $49 to $149 if necessary.

Successfully completing the program leads to a funded account, accessible after paying a one-time $149 Activation Fee. At this point, monthly subscription fees cease, though traders become responsible for data and platform expenses.

The funded account structure is designed to reward traders generously, allowing them to retain 100% of their first $10,000 in profits, followed by a 90% share thereafter. This model enables traders to access substantial trading capital without putting their personal finances at risk.

Apex Trader Funding Pricing Explained

Apex Trader Funding provides two payment options for Performance Accounts (PA): monthly fees or a one-time lifetime fee. For those opting for monthly fees, the cost is $85 for Rithmic PA and $105 for Tradovate PA. The lifetime fee varies based on account size, ranging from $130 to $340 for Rithmic and $150 to $360 for Tradovate.

After passing the Evaluation Account, traders must sign PA contract documents and make the required payment. It’s important to note that once a payment option (monthly or lifetime) is selected for a specific PA account, it cannot be changed. The payment link will be available through the ATF.com Dashboard in the Signatures tab.

Apex Risk Management Rules

Apex Trader Funding allows traders to maximize their contract limits based on their plan, with no daily maximum drawdown restrictions. Each plan comes with a specific trailing drawdown, which varies depending on the account size. For instance, a $50K plan starts with a trailing drawdown of $2,500 below the initial balance.

In funded accounts, the trailing drawdown ceases once the liquidation threshold reaches $100 above the initial balance (e.g., $50,100 for a $50K plan). Static accounts feature a fixed drawdown that remains unchanged. The trailing drawdown follows the highest profit point by a set amount, and traders must monitor this in real time to avoid failing the evaluation.

It’s important to note that while Apex permits trading during news events, such trades must align with your strategy and be justifiable rather than speculative gambles.

TopStep Trader Risk Management Rules

TopStep employs a dual-tiered risk management system:

• Daily Loss Limit: This varies by account size ($1,000 for $50K, $2,000 for $100K, $3,000 for $150K accounts). If exceeded, it triggers an automatic position closure and halts trading until 5 PM CT.
• Maximum Loss Limit (MLL): This is calculated based on the end-of-day account balance and has the potential to increase as profits grow.

Importantly, breaching either of these limits doesn’t result in account closure. Trading can resume the following day, providing a balance between trader flexibility and prudent risk management practices.

Apex vs. TopStep Profit Share Details

• TopStep Trader: 100% profit up to $10,000, then 90%.
• Apex Trader Funding: 100% profit up to $25,000, then 90%.

Apex Trader Funding vs. TopStep Trader – The Bottom Line

Both Apex Trader Funding and TopStep Trader offer unique advantages for traders looking to access significant capital without risking their own funds. Here’s a quick recap of their key differences and similarities:

Key Differences

• Evaluation Process: Apex Trader Funding features a single-step evaluation, while TopStep Trader employs a two-step Trading Combine.
• Profit Sharing: Apex offers 100% profit up to $25,000 and 90% thereafter, whereas TopStep provides 100% up to $10,000 and 90% thereafter.
• Risk Management: Apex has no daily loss limits and uses a trailing drawdown, while TopStep enforces strict daily and maximum loss limits.
• Pricing Structure: Apex allows for monthly or one-time lifetime fees, while TopStep charges monthly subscription fees during the evaluation phase.
• Tradeable Assets: Both platforms support various futures contracts, but Apex also includes crypto futures.

Similarities

• Both platforms offer high profit-sharing rates.
• Both provide access to a wide range of futures contracts.
• Both cater to traders who are looking to trade without personal financial risk.

Guidance for Traders

• Choose Apex Trader Funding if: You prefer a single-step evaluation process, want flexibility in trading news events (aligned with your strategy), and are looking to manage multiple funded accounts simultaneously. The option for a one-time lifetime fee might also be appealing if you prefer not to deal with recurring monthly payments.
• Choose TopStep Trader if: You value a structured evaluation process with strict risk management rules, appreciate extensive educational resources, and prefer a monthly subscription model during the evaluation phase. TopStep is also ideal if you’re focused solely on futures trading, including forex futures.

When deciding between these two platforms, consider your trading style, goals, and preferences. Whether you thrive in a flexible trading environment or prefer a structured approach with comprehensive support, both Apex Trader Funding and TopStep Trader offer robust solutions to help you grow your trading career without risking your own capital.