TopStep vs Apex Trader Funding: Which Prop Firm Elevates Your Trading To The Next Level? (2024)

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Selecting a prop firm is a critical step in a day trader's career, as it can significantly impact their path forward. In the spotlight are two heavyweights in the industry: Apex Trader Funding and TopStep. The decision between TopStep vs Apex Trader Funding goes beyond mere preference; it's about strategically aligning with a platform that can best support your aspirations and trading style.

Through this comparison, I aim to dive deeper into what each platform offers, highlighting their unique features and advantages. This analysis is crafted to assist you in making a well-informed choice, ensuring that the prop firm you select is the one that most effectively aids in reaching your trading goals.

TopStep vs Apex Trader Funding: An Overview

TopStep, established in 2010 and based in Chicago, Illinois, has made a name for itself with its Trading Combine, a two-step evaluation challenge. This innovative model is designed to assess a trader's risk management and profit-making abilities. Successful traders are rewarded with a funded account to trade in the financial markets.

Beyond just trading, TopStep is dedicated to the educational growth of its users, offering an extensive collection of resources aimed at enhancing trading skills and knowledge. This educational commitment is a cornerstone of their offering.

On the other hand, Apex Trader Funding, founded in 2021 and headquartered in Austin, Texas, champions a more streamlined approach. Unlike the multi-stage evaluation process typical of many prop firms, Apex opts for a one-step evaluation, simplifying the path to a funded account.

This platform is known for its minimalistic rule set, providing traders with considerable flexibility to employ various trading strategies. Perhaps most notably, Apex Trader Funding allows traders to keep 100% of their first $25,000 in profits, a unique feature that has garnered attention in the trading community.

Both platforms offer unique advantages: TopStep with its focus on education and a structured evaluation process, and Apex Trader Funding with its straightforward access to trading capital and a more lenient rule set.

TopStep vs Apex Trader Funding: The Differentiating Factors

Let's look at the factors that differentiate these proprietary firms. Season traders realize these slight differences in rules, can greatly impact opportunities for traders:

• Trading News: TopStep allows news trading, whereas Apex Trader Funding does not.
• Daily Loss Limit: TopStep enforces a 2% daily loss limit, unlike Apex Trader Funding, which imposes none.
• Evaluation Process: TopStep utilizes a two-step evaluation process, contrasting with Apex's one-step approach.
• Account Type: TopStep offers a demo account, while Apex provides a live account.
• Max Drawdown: The maximum drawdown in TopStep ranges from 3% to 4%, while Apex offers a broader range of 6% to 2.5%.
• Minimum Trading Days: Traders at TopStep must trade for a minimum of 5 days, compared to 7 days at Apex.
• Trading Platform: TopStep supports a wider array of trading platforms than Apex, which focuses on NinjaTrader and Tradovate.
• Trading Styles Supported: TopStep caters to a variety of trading styles including scalping and algorithmic trading, while Apex specifically supports day trading.
• Profit Share: TopStep offers an 80% profit share to its traders, whereas Apex Trader Funding offers a 100% profit share.
• Initial Balance: TopStep provides an initial balance ranging from $50,000 to $150,000, compared to Apex's higher range of up to $1,500,000.
• Max Positions: Traders can hold between 1 to 15 positions with TopStep, whereas Apex allows up to 12 positions.
• Risk Management: TopStep enforces strict risk management rules; Apex opts for minimal rules.
• Pricing: TopStep operates on a monthly subscription basis, whereas Apex Trader Funding requires a one-time payment.

TopStep vs Apex Trader Funding: Account Sizes And Pricing

When comparing the account sizes and pricing of the Apex Trader Funding and Topstep programs, several key differences and similarities become apparent. Here is what each offers:

Apex Trader Funding Account Options:

• $25K Account: Offers 4 contracts for a $147 challenge price, with a profit target and trailing threshold of $1,500.
• $50K Account: Allows 10 contracts at $167, targeting a $3,000 profit with a $2,500 trailing threshold.
• $75K Account: Includes 12 contracts for $187, with a profit goal of $4,250 and a $2,750 trailing threshold.
• $100K Account: Provides 14 contracts at $207, aiming for a $6,000 profit, supported by a $3,000 trailing threshold.
• $150K Account: Grants 17 contracts for a $297 challenge price, with a $9,000 profit target and a $5,000 trailing threshold.
• $250K Account: Features 27 contracts at $517, with a high profit target of $15,000 and a $6,500 trailing threshold.
• $300K Account: Offers the most extensive option of 35 contracts for $657, aiming for a $20,000 profit with a $7,500 trailing threshold.

Topstep Account Options:

• $50K Account: Provides five contracts with a $165 challenge price, a $3,000 profit target, a $1,000 daily loss limit, and a $2,000 trailing max drawdown.
• $100K Account: Allows ten contracts for $325, targeting a $6,000 profit with a $2,000 daily loss limit and a $3,000 trailing max drawdown.
• $150K Account: Offers the largest account with 15 contracts for $375, a $9,000 profit target, a $3,000 daily loss limit, and a $4,500 trailing max drawdown.

Closing Thoughts

Choosing between TopStep and Apex Trader Funding isn't just about picking a prop firm; it's about finding a partner that aligns with your trading style and goals. TopStep, known for its comprehensive educational resources and the Trading Combine challenge, is a great fit for those who appreciate structured risk management and skill development.

Meanwhile, Apex Trader Funding offers a more streamlined path to funding with fewer restrictions, making it an attractive option for experienced traders seeking flexibility and a higher profit share.

In essence, your decision may boil down to what you value more: TopStep's educational emphasis and supportive trading community, or Apex's simplicity and lucrative profit-sharing model. Whatever your choice, both platforms provide a solid foundation for your trading endeavors, with sufficient capital to enhance your trading journey.

For those inclined towards an educational journey with structured evaluations, Click Here to explore TopStep. On the other hand, if you're looking for minimal restrictions and high profit retention, Click Here to align with Apex Trader Funding.