Topstep vs Apex: Which Prop Firm Is Better in 2026?

If you're looking to trade with a funded account without risking your own capital, prop firms like Topstep and Apex Trader Funding are two of the most popular options available today. Both offer futures traders the chance to prove their skills and earn a funded account but they differ significantly in pricing, rules, and overall experience.

In this article, you'll get a clear, side-by-side breakdown of Topstep and Apex so you can make an informed decision about which prop firm is the better fit for your trading journey.

What Is a Prop Firm and Why Should You Care?

A proprietary (prop) trading firm provides you with simulated or real capital to trade, in exchange for a share of the profits. As a beginner or intermediate trader, this is especially appealing because:

• You can trade with significantly more capital than you personally own
• Your personal savings are not at risk during the evaluation phase
• You get access to professional-grade trading environments
• Passing an evaluation builds discipline and consistency

Please note that both Topstep and Apex operate in the futures trading space, meaning you'll be trading contracts like the ES (S&P 500), NQ (Nasdaq), CL (Crude Oil), and others.

Overview of Topstep

Founded in 2012, Topstep is one of the oldest and most well-known prop firms in the industry. It has built a strong reputation for trader education, community support, and a straightforward evaluation process.

Key Features 

• Evaluation accounts: $50K, $100K, and $150K account sizes
• Profit targets: $3,000 / $6,000 / $9,000 depending on account size
• Daily drawdown limit: $1,000 / $2,000 / $3,000
• Maximum trailing drawdown: $2,000 / $3,000 / $4,500
• Monthly subscription fee: Starting at around $165/month for the $50K account
• Profit split: 90% to the trader after the first $10,000 in profits (100% of the first $10K)
• Platforms supported: NinjaTrader, TradingView, TopstepX, and more
• Educational resources: Webinars, trading coaches, and a strong community

Top Tip: Topstep uses a one-step evaluation process. Once you hit your profit target without breaching any rules, you get to move onto a funded account.

Overview of Apex Trader Funding

Apex Trader Funding is a newer entrant, launched in 2021, but it has quickly become one of the most popular prop firms largely due to its aggressive pricing, frequent promotional discounts, and trader-friendly rules.

Key Features

• Evaluation accounts: Multiple sizes from $25K up to $300K
• Profit targets: Vary by account (e.g., $1,500 for $25K; $25,000 for $300K)
• Daily drawdown limit: No hard-daily drawdown on most accounts
• Maximum trailing drawdown: Based on account size (e.g., $1,500 for $25K accounts)
• Monthly subscription fee: As low as $7/month during promotions (regular price ~$167/month for $100K)
• Profit split: 100% of first $25,000, then 90% thereafter
• Platforms supported: NinjaTrader, Tradovate, Rithmic, and more
• Notable perk: You can hold up to 20 evaluation accounts simultaneously

Top Tip: One of Apex's biggest selling points is that it does not have a hard-daily loss limit on most of its accounts, which gives traders more breathing room day-to-day.

Topstep vs Apex: Head-to-Head Comparison

Here's a quick look at how the two firms stack up across the most important categories:

Key Differences You Should Know

1. Drawdown Rules

This is arguably the most important difference between the two firms.

Topstep enforces a hard-daily drawdown limit. If you lose more than your daily limit in a single session, your account is automatically closed for the day or terminated entirely, depending on how much you've lost. For traders who are still learning to manage their emotions, this can be both a protection and a frustration.

Apex, on the other hand, does not impose a hard-daily loss limit on most account types. Your account is governed by a trailing maximum drawdown that locks in as your balance grows. This gives you more flexibility within a single trading session, which many traders find less stressful.

Verdict: If you're prone to revenge trading or over-trading in a single day, Topstep's daily limit may actually help you. If you prefer more session-level freedom, Apex wins here.

2. Pricing and Promotions

Both firms are similarly priced at their standard rates — around $165-$167/month for a $100K account. However, Apex regularly runs promotions, sometimes slashing prices by 80-90%. It's not unusual to see Apex evaluation accounts available for as little as $7-$40/month during a sale.

Topstep does run occasional promotions but they are less frequent and less dramatic than Apex's.

Verdict: If cost is a concern for you, Apex gives you significantly more value, especially when you catch a promotion.

3. News Trading

If you like to trade around high-impact economic events like NFP (Non-Farm Payrolls) or FOMC announcements, this matters a lot.

• Topstep restricts trading during major news events. You are typically required to be flat (no open positions) 2 minutes before and after scheduled news releases.
• Apex allows news trading on most of its accounts, giving you full freedom to capitalize on volatile market conditions.

Verdict: For news traders, Apex is the clear winner.

4.  Education and Community

Topstep has a decade-long head start in building trader resources. It offers:

• Live coaching sessions
• A structured learning path for new traders
• An active trader community
• Regular webinars and performance reviews

Apex is lighter on formal education but has a growing community on social media and Discord. If you're self-directed and simply need a funded account, Apex's lack of structured education may not bother you at all.

Verdict: For beginners who want guidance, Topstep has the edge. For intermediate traders who learn independently, this difference is negligible

 5. Scaling and Multiple Accounts

One area where Apex stands out is its allowance for up to 20 simultaneous evaluation accounts. This means you can run multiple strategies or account sizes at the same time — something that serious traders use to diversify their funded income.

Topstep limits the number of accounts you can hold at once, making it less suitable for traders looking to scale aggressively.

Verdict: If you want to scale quickly, Apex gives you far more flexibility.

Which Prop Firm Is Better for You?

The honest answer is: it depends on your trading style and goals.

Choose Topstep if you:

• Are a complete beginner and want structured education and coaching
• Benefit from having a hard-daily loss limit to enforce discipline
• Prefer a well-established firm with a long track record
• Don't trade the news and want a straightforward, trusted evaluation

Choose Apex if you:

• Want more flexibility in your trading sessions (no hard-daily drawdown)
• Are comfortable trading around news events
• Want to run multiple accounts simultaneously
• Are cost-conscious and want to take advantage of frequent promotions
• Are an intermediate trader who doesn't need hand-holding

Why Some Traders Choose Audacity Capital Instead

While Topstep and Apex are both popular futures prop firms, they may not suit every trader's preferred style or market.

Audacity Capital offers a different approach. Rather than focusing on futures trading, Audacity provides funding opportunities for forex, indices, and gold traders through multiple funding pathways, including the Ability Challenge, Ability One, and the Funded Trader Program (FTP).

Some traders choose Audacity Capital because of:

• Up to 90% profit share
• Multiple funding routes, including instant funding
• News trading and weekend holding permitted on eligible programs
• EA and copy trading support on eligible accounts
• Unlimited trading periods on evaluation programs
• Account scaling opportunities up to $2 million
• Over 14 years of industry experience

For traders who prefer forex and CFD markets over futures contracts, Audacity Capital can be an attractive alternative to firms such as Topstep and Apex.

Ultimately, the right prop firm depends on your trading style, preferred markets, risk tolerance, and funding goals.

Conclusion

Both Topstep and Apex Trader Funding are legitimate prop firms that provide futures traders with an opportunity to access funded accounts. Topstep stands out for its educational support, structured risk controls, and long-standing reputation, while Apex appeals to traders seeking greater flexibility, lower promotional pricing, and the ability to scale across multiple accounts.

The right choice ultimately depends on your trading style, risk tolerance, and preferred markets. If you're a futures trader looking for a structured evaluation process and strong educational resources, Topstep may be the better fit. If you value flexibility, news trading, and aggressive promotional pricing, Apex is likely the stronger option.

However, traders interested in forex, indices, and gold may also want to consider Audacity Capital. With multiple funding pathways, including Ability Challenge, Ability One, and the Funded Trader Program (FTP), Audacity offers an alternative route to funded trading for those who prefer markets beyond futures contracts.

Regardless of which firm you choose, long-term success depends on disciplined risk management, consistent execution, and a trading plan you can follow over time. The prop firm provides the opportunity; your trading habits determine the outcome.

Frequently Asked Questions (FAQs)