Topstep (founded 2012, TopstepTrader LLC, Chicago) and Apex Trader Funding (US, founding year unconfirmed) are both US-based, futures-focused funded-trading firms. Topstep has the longer verifiable track record and FIA membership; Apex uses a monthly-subscription model. Neither funded-account product is a licensed investment, and an evaluation fee is at risk. We publish no fees or ratings until verified.
Prop firm comparison
Topstep vs Apex Trader Funding: an honest, facts-only comparison
By Prop Firm Atlas Editorial Team · Last updated 23 June 2026
Topstep vs Apex Trader Funding: the verified facts
| Prop firm | Entity & regulation | account-sizes | profit-split | Actions |
|---|---|---|---|---|
| Topstep Founded 2012 | TopstepTrader LLC (Illinois, USA) | — | — | |
| Based in the United States | — | — |
Topstep Founded 2012
- Entity & regulation
- TopstepTrader LLC (Illinois, USA)
- account-sizes
- —
- profit-split
- —
- Entity & regulation
- Based in the United States
- account-sizes
- —
- profit-split
- —
Only fields we can verify (entity registration, confirmed details, founding year) are shown.
How do they compare on the facts?
Both are US-based and futures-focused (exchange-traded instruments), which means the 2024 MetaQuotes withdrawal that restricted CFD prop firms' US access is less central to either. The clearest verifiable difference is continuity: Topstep has operated since 2012 (TopstepTrader LLC, Chicago) and is an FIA member, while Apex's founding year was not confirmed in our research, so we leave it unstated rather than guess.
The table below shows only fields we can confirm. We do not publish account sizes, profit splits, fees or payout frequency for either firm — they vary by plan and change often. Apex's subscription model in particular means costs recur, so read the current terms on each firm's own site before committing.
The cost-structure difference that matters most
The single most practical difference is how you pay. Topstep is typically structured around a challenge fee, while Apex uses a monthly subscription that recurs until you cancel or get funded. Over a long evaluation, a recurring subscription can cost more than a one-off fee — budget for it and cancel promptly if you stop. Neither structure makes the product regulated or the fee an investment; both are money at risk.
Frequently asked questions
Which is better for futures trading, Topstep or Apex?
Both are futures-focused US firms, so 'better' depends on your strategy, the cost structure and the rules you can live with. Topstep has the longer verifiable track record and FIA membership; Apex uses a recurring monthly-subscription model. Neither is a regulated investment — read each firm's full terms and treat any fee as money at risk.
Is Apex cheaper than Topstep?
It depends on how long your evaluation takes. Apex's monthly subscription recurs until you cancel or get funded, so a long evaluation can cost more than a one-off challenge fee. We publish no figures until verified — compare the current pricing and cancellation terms on each firm's own site.
Related