Apex Trader Funding vs Topstep Side-by-side breakdown — fees, rules, payouts, and our verdict

The Two Biggest Names in Futures Prop Trading

Apex Trader Funding and Topstep between them have funded more futures traders than any other two firms. Both are legitimate, established, and actively paying — but they’re genuinely different in how they structure evaluations and ongoing funded accounts.

Evaluation Structure

Topstep uses a one-step combine where you hit a profit target while staying within drawdown limits. Apex uses a similar one-step model but is more permissive on news trading and weekend holding — both permitted on Apex, both restricted on Topstep. For traders who trade macro events or hold positions over the weekend, this is the decisive difference.

Account Limits: The Biggest Apex Advantage

Apex allows up to 20 simultaneous funded accounts. Topstep caps this at five. For systematic traders or those who want to scale through multiple accounts rather than scaling a single larger account, Apex’s model is structurally superior. Twenty $50K accounts gives you $1M in funded capital — Topstep’s path to that number is considerably longer.

Drawdown: Trailing EOD vs Trailing Intraday

Both firms use trailing drawdown, but the calculation method matters. Apex’s trailing drawdown locks in at end-of-day — intraday highs don’t move the floor. Topstep’s trailing drawdown moves with intraday equity, meaning an intraday spike that you give back raises the floor permanently. For scalpers and intraday traders, this is a meaningful risk difference.

Topstep’s Advantage: Track Record

Topstep has been operating since 2012 — twelve years of paying futures traders is unmatched. Apex launched in 2021. Both pay, but Topstep has the longer documented history in a sector where that matters.

Verdict

Apex for traders who want news trading, weekend holding, multiple simultaneous accounts, or end-of-day trailing drawdown. Topstep for traders who prioritise the longest established futures firm. The drawdown calculation method is the most underappreciated difference — run the numbers on your typical session before deciding.