Apex vs Topstep (2026): Which Futures Prop Firm Should You Pick?
Apex Trader Funding and Topstep are two of the most popular futures prop firms, and they come up against each other constantly. On paper their 50K accounts look almost identical — both have a $3,000 profit target and a $2,000 trailing drawdown. The differences that actually decide which one suits you are in the pricing model, the consistency rule, and how you pay for the funded account. Here's the honest breakdown.
Quick verdict
| Apex Trader Funding | Topstep | |
|---|---|---|
| Entry price (50K) | $119 eval (code SAVENOW) | $49 / month |
| Profit target | $3,000 | $3,000 |
| Max drawdown | $2,000 end-of-day trailing | $2,000 trailing (Max Loss Limit) |
| Daily loss limit | $1,000 | Optional $1,000 |
| Consistency rule | 50% (funded stage) | 55% (in the Combine) |
| Profit split | 100% of first $25k, then 90% | 100% of first $10k, then 90% |
| Min trading days | None | 2 |
Short version: Apex is often cheaper to get funded and has a friendlier first-$25k split, while Topstep is the more established name with a simpler monthly model and strong payout reputation.
Pricing & model
Apex rebuilt its entire program on 1 March 2026 into EOD and Intraday Trailing accounts, and it frequently runs steep discount codes — the headline 50K price is often far below list. Topstep uses a flat monthly Trading Combine fee ($49/mo at 50K) with no separate activation fee once you pass. If you expect to pass quickly, Apex's discounted one-off pricing usually works out cheaper; if you might take a few months, Topstep's monthly fee is predictable but adds up.
Drawdown: where they quietly differ
Both use an end-of-day trailing drawdown, so your liquidation line follows your highest end-of-day balance and never moves down. The nuance: Apex's line locks at $100 above your starting balance once you're far enough in profit, while Topstep's Max Loss Limit trails up only until it reaches your starting balance, then locks there. Either way, trailing drawdown trips far more traders than the profit target does.
Consistency rules
Both firms cap how much of your profit can come from a single day, but at different stages. Topstep applies a 55%-of-target best-day ceiling right in the Combine, while Apex's 50% rule only kicks in at the funded (PA) stage, not the evaluation. Either way they push you toward steady, repeatable days rather than one lucky home run — important if your style is a single big trade, because you may clear the target but still fail the consistency check later.
Payouts & profit split
Apex pays 100% of your first $25,000 in profit, then 90/10 — the more generous early split. Topstep pays 100% of your first $10,000, then 90/10, and has a long, well-documented track record of paying out, which matters in a niche where trust is everything.
Which should you choose?
- Pick Apex if you want the cheapest route to funded (with a code) and the more generous first-$25k profit split.
- Pick Topstep if you value the established reputation, a simple monthly fee, and don't mind the 55% consistency rule or the optional daily loss limit.
Rules and prices change often and are cross-checked, not official. Confirm the current terms on each firm's own site before buying. Nothing here is financial advice.