When choosing a prop trading firm, FTMO and Topstep are two of the most recognized names in the industry — but they cater to different types of traders and trading styles. FTMO is well-known for its focus on forex, CFDs, and a structured two-phase evaluation process with generous profit splits. On the other hand, Topstep specializes in futures trading and offers a more streamlined evaluation model with a subscription-based entry and faster access to funding once you pass.

In this review, we’ll dig into how FTMO and Topstep differ in terms of cost, rules, payout structure, and suitability — so you can decide which firm is better aligned with your trading style and goals.

What Is FTMO?

FTMO touts itself as the modern proprietary trading firm that can help you enhance your trading skills. Founded in Prague, Czech Republic, by Marek Vasicek and Otakar Suffner, FTMO aims to identify and fund talented traders. 

FTMO uses a two-step evaluation process, the FTMO Challenge and Verification, to help traders become profitable and confident. It also assists them in developing into professional traders. FTMO offers the following features:

• An array of securities
• Account sizes ranging from €10,000 to €200,000
• Advanced trading tools
• A wealth of educational materials 

The platform also provides a favorable profit split of 80:20 that can scale up to 90:10 based on your performance.

Pros

• 24/7 client support
• Multilingual support
• 80% profit split
• Refundable fee after evaluation
• Educational resources

Cons

• Two-stage evaluation
• Minimum trading days
• Strict requirements

What Is Topstep?

Topstep focuses on teaching people how to become futures traders. Founded in 2012 by Michael Patak and based in Chicago, Topstep previously offered a program in foreign exchange trading to help traders develop their skills to reach significant profits in forex markets. 

The company shut down its forex program in 2022. Topstep is solely focused on trading futures. The evaluation at Topstep is called the Trading Combine, a process that assesses your ability to implement your strategy and manage risk. 

The emphasis is on performing consistently while producing a profit. Once you pass the Trading Combine, you must trade consistently in a simulated account before receiving funding in a live account.

Pros

• Keep the first $10,000 earned 
• 90% profit split later
• Well-established
• Access to coaches 
• Educational resources

Cons

• Exchange fees as a professional 
• Days to payout 
• Only futures available 

Side-by-Side Comparison

Here's a side-by-side comparison table for FTMO vs. Topstep:

Key Differences:

• Funding Potential: FTMO offers significantly higher funding potential, up to $2,000,000, compared to Topstep's $150,000.
• Pricing: FTMO charges a one-time fee for the evaluation challenge, while Topstep uses a monthly subscription model.
• Evaluation Process: FTMO uses a two-phase evaluation process, whereas Topstep uses a single-phase evaluation (Trading Combine).
• Payout Frequency: FTMO offers monthly payouts, while Topstep provides daily payouts after meeting specific profit criteria.
• Platform Support: FTMO supports MetaTrader and cTrader, while Topstep focuses on NinjaTrader and its proprietary platforms.
• Leverage: FTMO offers leverage up to 1:100 for CFDs, while Topstep offers 1:1 leverage for futures trading.

Comparing FTMO vs. Topstep

The first thing to know about FTMO vs. Topstep is that these are two premier prop firms. While you will find similarities, your decision about where you want to trade might be based on the differences between these prop trading firms. 

Consider what FTMO vs. Topstep offers regarding features, pricing, trading platforms, educational resources, and payment options. Doing so can help you decide whether either platform is right for you.

Features

When comparing FTMO vs. Topstep, it’s important to understand that both trading platforms have features. Starting at the top, the platforms give traders access to different financial instruments. FTMO provides you access to: 

• Forex
• Contracts for difference (CFDs) 
• Cryptocurrencies
• Stocks
• Currency pairs
• Stock indices
• Commodities

Topstep has chosen to focus on futures alone. FTMO is available from your desktop and through Web-based and mobile apps, and TopstepX can be used on a PC, Mac, or mobile device.

Pricing

FTMO and Topstep really diverge in cost. FTMO charges a one-time fee based on the account size and risk mode you choose. In normal mode, you can purchase a $10,000 challenge for €155 and up to a $200,000 challenge for €1,080. 

In aggressive mode, a $10,000 challenge can cost you €250, and a $100,000 challenge can cost €1,080. If you pass your challenge and verification, FTMO will refund your charge. The platform won’t charge additional fees, but you can expect other charges when trading. 

On Topstep, you must pay a recurring monthly fee for the Trading Combine. Once you reach live funding, the fee is dropped. For a $50,000 account, the fee is $49 per month. A monthly fee of $99 will get you an account of $100,000, and $149 per month will buy you an account of $150,000.

Trading Platforms

Trading platforms can play a significant role in trading. FTMO supports the following platforms, which are widely used and popular for forex trading: 

• MetaTrader 4
• MetaTrader 5
• cTrader 
• DXTrade

These trading platforms can accommodate diverse trading styles and preferences for accessing data. 

On Topstep, traders also have access to several platforms: 

• TopstepX
• NinjaTrader
• Quantower
• Tradovate
• TradingView
• T4
• R|Trader Pro
• ATAS OrderFlow Trading
• MotiveWave
• VolFix
• Bookmap
• Investor/RT
• Jigsaw Daytradr
• MultiCharts
• Sierra Chart
• Trade Navigator 

Topstep recommends using TopstepX, NinjaTrader, or Quantower for future trading, but it supports additional platforms that might work better for a trader’s device or preferences.

Educational Resources

FTMO and Topstep are known for educating traders and would-be traders. Both platforms offer comprehensive educational resources to teach trading from beginning to end, including financial markets, trading analysis, trading strategy, and more. 

Topstep’s educational offering is Futures Trading 101, while FTMO has the FTMO Academy. Each platform focuses on growing the traders’ skills through comprehensive guides, tactical webinars, community forums, and other skill-enhancing tools. FTMO and Topstep provide free coaching, and Topstep streams live trading on its TopstepTVTM.

Payment Options

If you have a preferred online payment method, the ones that each prop firm accepts might mark a clear winner for you. FTMO and Topstep give you options, but FTMO provides a broader range of payment methods, including: 

• Bank wire transfer
• Cryptocurrencies
• Google Pay
• Skrill 

At Topstep, you can use PayPal or a debit or credit card from Visa, Mastercard, American Express, or Discover.

Choose the Prop Trading Platform That Suits You

FTMO and Topstep are considered to be among the top proprietary trading platforms. Traders will naturally compare FTMO vs. Topstep, and there are similarities between the two. 

However, these platforms' differences start from the financial instruments you can trade. FTMO offers an array of securities to trade in, but no futures trading and Topstep only offers futures trading. The cost structures differ, too. Both companies also support very different trading platforms, which may make you prefer one. 

From this comparison of FTMO vs. Topstep, you can see clear differences, but the goal of each platform is to help traders improve their skills. You will find great educational resources available no matter what your platform is. Now that you have all the details, you can decide which platform fits your needs. 

Frequently Asked Questions