FTMO vs TopStep: The Real Data-Driven Prop Firm Comparison for 2024

FTMO vs TopStep: Key Differences at a Glance

Who Should Consider Each Firm?

FTMO and TopStep both offer funded trading, but cater to different types of traders. The differences go beyond just markets: the rules, costs, and even the psychology of their evaluation processes matter. Here’s what you need to know before risking your time and capital.

FTMO: Best for Multi-Asset, High-Leverage, and Algorithmic Traders

• Asset Classes: Forex, indices, commodities, crypto, stocks
• Leverage: 1:100 — ideal for aggressive strategies or small account scaling
• Automation: EAs and algos allowed
• Account Sizes: $10K to $200K, can scale to $2M
• Challenge Structure: Two-phase, with 10% profit target and 10% max drawdown

FTMO is the go-to for traders who want flexibility, higher leverage, and algorithmic trading. If you swing trade, hold positions over weekends, or use EAs, FTMO is one of the few top-tier firms that checks every box.

TopStep: For Futures Traders Focused on Consistency and Real Capital

• Asset Classes: Only futures (CME, CBOT, NYMEX, COMEX)
• Leverage: Full contract
• Automation: No EAs or bots allowed
• Account Sizes: $50K, $100K, $150K
• Challenge Structure: One-phase, 6% profit target, 4% max drawdown, unlimited time

TopStep is for futures purists who want a low-cost, unlimited-time evaluation and a real path to trading with live capital. The 90/10 split is industry-leading, but you’ll need to meet a 50% consistency rule — a unique hurdle for traders who rely on single big days.

Evaluation Process: What’s Actually Hard?

FTMO: 10% in 30 Days, Twice

FTMO’s two-phase challenge requires you to hit a 10% profit target in 30 days (Phase 1), then 5% in 60 days (Phase 2). Both phases enforce a 10% max drawdown and 5% daily loss limit. The time pressure is real: on a $100K account, you must net $10,000 in 30 days, without losing more than $5,000 in a single day or $10,000 overall.

Fail to hit the profit target but keep your losses within bounds? You can get a free retake, but only if your account is positive at the end.

TopStep: Lower Target, But Stricter Consistency

TopStep’s profit target is only 6%, with a 4% trailing max drawdown and 2% daily limit. On a $100K account, that’s $6,000 profit, with a $2,000 daily loss max and $4,000 overall. But here’s the catch: you must meet a 50% consistency target. Your best day’s profit cannot exceed 50% of your total profits during the evaluation. So, if you make $6,000 total, no single day can be more than $3,000.

This rule can trip up traders who rely on one or two outsized days. You can take as long as you want (no time limit), but if you’re inconsistent, you’ll have to start over.

Costs: Upfront vs Ongoing

FTMO: One-Time, Refundable Fee

• $155 - $1,080, depending on account size
• Fee refunded after passing both phases and getting funded
• No recurring charges

Pay once per challenge attempt. If you fail, you must pay again for a retry unless you qualify for a free retake. For a $100K account, the cost is $655.

TopStep: Monthly Subscription

• $49 - $149 per month, based on account size
• No refund, but you can cancel anytime
• Unlimited attempts (as long as you keep paying)

For a $100K account, it’s $99/month. If you pass in the first month, it’s cheaper than FTMO. But if it takes you several months, costs can quickly add up.

Profit Splits and Scaling Up

FTMO: 80/20 Split, Up to 90/10 with Scaling

• Start with 80/20 split (trader/firm)
• Can scale to 90/10 after strong performance
• Accounts can be scaled up to $2M after 4 months of consistent profitability

The scaling plan is FTMO’s big differentiator. If you’re aiming for a large allocation, few firms match their $2M ceiling.

TopStep: 90/10 Split from Day One

• 90/10 split with no scaling required
• Path from "Express Funded" to "Live Funded" account with real capital

TopStep offers a better split immediately, but account sizes top out at $150K. Their "live capital" model is unique: after hitting targets in a simulated environment, you transition to a brokerage account with real money.

Tradable Instruments & Platform Rules

FTMO: Multi-Asset Flexibility

• Trade forex, indices, commodities, crypto, and stocks
• Leverage: 1:100
• EA/algorithmic trading allowed
• Weekend holding and news trading permitted (with swing trade limitations during news)

FTMO’s broad asset selection and high leverage enable a wide range of strategies, from scalping forex to holding index positions over weekends. This is rare among major prop firms.

TopStep: Futures Only, Manual Trading

• Trade only US futures (CME, CBOT, NYMEX, COMEX)
• No EAs, no bots — manual trading only
• Weekend holding not allowed, positions must be flat by session end

If you’re a pure futures trader and don’t automate, TopStep’s rules are straightforward. But if you want to trade forex, crypto, or use algorithms, you’ll need to look elsewhere.

Drawdown and Risk Management Rules

FTMO’s higher limits give more breathing room, but you must still avoid large single-day losses. TopStep’s smaller drawdowns, combined with the trailing feature and consistency rule, require tighter daily risk controls and more even performance.

Payouts and Withdrawal Frequency

FTMO: Monthly, Reliable Payouts

FTMO offers monthly withdrawals. Their reputation for reliable, on-time payouts is one of the reasons for their high 4.8/5 rating. You can request your first payout 30 days after your first trade on a funded account.

TopStep: Weekly Payouts (After Live Funding)

TopStep allows weekly payouts once you’re in a live funded account. However, getting to this stage requires passing their challenge and then the "Express Funded" phase. If you’re looking to withdraw profits more frequently, TopStep is an advantage — but only after completing all steps.

Other Notable Rules and Quirks

• FTMO: No swing trading during news events (positions must be closed), but news trading is otherwise allowed. Four minimum trading days per phase.
• TopStep: Weekend holding not allowed. 50% consistency rule is enforced strictly. No automated trading permitted, even for discretionary strategies.

Neither firm is suitable for traders who want to automate in futures, or for those who want to trade both forex and futures under the same roof.

Reputation, Longevity, and Support

• FTMO: Founded 2015, widely regarded as the most trusted name in prop trading. Excellent educational resources and community support.
• TopStep: Founded 2012, especially respected in the US futures trading community. Known for transparency and a genuine pathway to live capital.

Both firms have stood the test of time and are considered safe by industry standards. For more on firm health, see the PropSurvivalEngine health grades.

Non-Obvious Trade-Offs

• Cost Creep: TopStep’s low monthly fee looks attractive, but if you take 3-6 months to pass, the cost can exceed FTMO’s one-off fee. Factor in your learning curve and style.
• Consistency Rule: TopStep’s 50% rule isn’t just a formality. Many traders fail because of one big day breaking the limit, even if they hit the profit target.
• Scaling Reality: FTMO’s scaling to $2M sounds great, but you need four months of consistent profitability. Most traders never reach this level. Don’t base your decision on best-case scaling alone.
• Instrument Limits: TopStep is a non-starter if you trade anything but US futures. FTMO is much more flexible.
• Payout Timing: TopStep’s weekly payouts are only available after full live funding. FTMO’s monthly cycle is more predictable for most traders.

Bottom Line: Which Firm is Right for You?

FTMO and TopStep are both elite, but built for different traders:

• Choose FTMO if: You want to trade forex, indices, commodities, crypto, or stocks. You need leverage, use EAs, or plan to scale up to a seven-figure account. You’re comfortable with a strict but straightforward challenge and can handle time pressure.
• Choose TopStep if: You only trade US futures, value a lower profit target, and are confident in consistent performance. You prefer a low upfront cost and unlimited time to pass, and don’t use automated strategies.

Still unsure? Use the PropSurvivalEngine comparison tool to model your risk, cost, and pass probability based on your strategy and timeline.