Topstep Funded Account Review: Account Types and Fees Breakdown

What Account Types Does Topstep Offer for Funded Trading?

Topstep specializes in funded trading accounts—a unique model where traders pass an evaluation (called a “Combine”) to access capital provided by Topstep, rather than depositing their own funds to trade. Our team verified all details directly from Topsteps official website (https://www.topstep.com/) and its dedicated account pages, confirming two core funded account options: Express Funded Account and Live Funded Account. Both cater to futures traders (Topstep does not offer forex trading) and are designed to help traders prove their strategy before accessing larger capital.

The Express Funded Account is tailored for traders seeking faster access to funded capital, with a simplified evaluation process. The Live Funded Account, by contrast, is for traders who prefer a more traditional evaluation with longer timeframes to demonstrate consistency. Notably, Topstep does not offer standard retail trading accounts (e.g., mini, classic) because its model revolves around “funding” rather than “depositing”—traders pay a one-time evaluation fee instead of a minimum deposit to start.

This review breaks down the key differences between the two funded accounts, including evaluation rules, leverage limits, and associated fees. It also clarifies how Topsteps model differs from traditional brokers, helping traders determine if a Topstep-funded account aligns with their trading goals (e.g., accessing capital without personal risk). By the end, you will understand which account type suits your strategy, what costs to expect, and how to progress from evaluation to funded trading—all, all critical for anyone exploring the TopStep funded account offering.

What Are the Differences Between Topstep's Funded Accounts, Leverage, and Evaluation Rules?

Topstep's Express and Live Funded Accounts differ primarily in their evaluation structure, timeframes, and maximum capital access—details our team cross-checked against Topsteps “How It Works” and account-specific pages. Both accounts require traders to pass an evaluation (no minimum deposit; instead, an evaluation fee applies) to unlock funded trading, but their rules cater to different trader styles. Below is a detailed comparison table:

Key Notes: Leverage is consistent across both accounts and is capped by Topstep to manage risk—this is lower than some traditional brokers (which may offer 1:50 or higher for futures) but aligns with Topstep's focus on responsible funded trading. After passing the evaluation, traders keep 80% of their profits (Topstep takes 20%), with no hidden fees for profit withdrawals. Our team confirmed this profit split via Topstep's payout FAQs, ensuring transparency for funded traders.

What Fees, Spreads, and Costs Apply to Topstep Funded Accounts?

Topstep's fee structure is distinct from traditional brokers: it charges one-time evaluation fees (instead of minimum deposits) and no ongoing commissions or spreads—traders only pay exchange and clearing fees when executing trades. Our team verified these costs using Topstep's fee disclosures and “Funding” pages, ensuring clarity on what traders actually pay. Below is a breakdown of key costs:

Critical Clarification: Topstep does not charge spreads because it uses a “direct market access” model for futures trading—traders execute orders at the current market price, with costs limited to exchange/clearing fees. This is a key advantage over brokers that add markup to spreads, as it keeps trading costs predictable. Our team confirmed this by reviewing Topsteps trade execution disclosures, which state no spread markups or hidden commissions.

Frequently Asked Questions About Topstep Funded Account Types & Fees

Q1: Can I get a refund if I fail Topsteps evaluation for a funded account?

A1: No, evaluation fees are non-refundable if you fail to meet the profit target or exceed the maximum drawdown. However, Topstep offers a “Reset” option for a reduced fee (e.g., $99 to reset a $5k Express evaluation) if you fail, allowing you to retry the evaluation with the same balance. Our team confirmed this policy via Topsteps help center, which notes resets must be requested within 7 days of evaluation failure.

Q2: Do Topsteps funded accounts have any ongoing fees after passing the evaluation?

A2: No. After passing the evaluation and unlocking a funded account, you only pay exchange and clearing fees when you trade—there are no account maintenance fees, inactivity fees, or monthly charges. The 20% profit split is the only ongoing cost, and it only applies when you generate profits. We verified this by reviewing Topsteps funded account terms, which explicitly state no recurring fees.

Q3: Is leverage the same for all futures contracts on Topsteps funded accounts?

A3: No, leverage varies slightly by contract type but is consistent across Express and Live accounts. For example, micro contracts (e.g., Micro E-mini Nasdaq) use 1:20 leverage, while mini contracts (e.g., Mini Gold) use 1:10 leverage. Topstep caps leverage to limit risk for both traders and its own capital—our team confirmed this via Topsteps leverage disclosures, which list contract-specific leverage limits.

Regulatory Risk and Trading Disclaimer

Regulatory Risk Warning: Topstep is not regulated by major financial authorities like the US Commodity Futures Trading Commission (CFTC) or the UKs FCA. As an unregulated provider, Topstep does not offer investor protections like client fund segregation or compensation schemes. This means your evaluation fees and any profits are not protected if Topstep faces financial issues.

Trading Risk Disclaimer: Futures trading is highly risky and not suitable for all investors. Topsteps funded account model reduces your personal capital risk but does not eliminate market risk—you can still lose the funded capital if your strategy fails, leading to account termination. Evaluation fees are non-refundable, and past success in evaluations does not guarantee future profits. Always test your strategy on a demo account (Topstep does not offer demos, but you can use futures simulators) before paying for an evaluation.

We recommend that you carefully review Topstep's evaluation rules, profit split terms, and fee schedules on its official website before committing to an account. If you prioritize regulatory protection, consider regulated futures brokers that offer funded account programs (though they may have stricter requirements). Assess your risk tolerance and trading experience to determine if Topstep's model aligns with your goals—never invest more than you can afford to lose.