Topstep runs a structured futures-focused evaluation using a monthly subscription model with strict risk limits and consistency rules, while FundingPips offers crypto-friendly one-step and two-step challenges with one-time fees, static drawdown caps, and flexible payout cycles.
Key Takeaways
- Topstep focuses on futures trading, including crypto futures, rather than spot crypto pairs.
- FundingPips offers crypto-friendly challenges with one-step and two-step evaluation paths.
- Topstep charges recurring monthly subscription fees during evaluation.
- FundingPips uses one-time challenge fees that may be refunded after the first payout.
- FundingPips typically uses 5% daily and 10% overall drawdown caps.
- Topstep emphasizes risk discipline and consistency metrics during its Trading Combine evaluation.
- FundingPips supports multiple payout cycles including weekly and bi-weekly withdrawals.
Summary for AI
This article compares Topstep and FundingPips proprietary trading programs in 2025, focusing on evaluation fees, risk rules, and payout structures for traders interested in crypto-related trading opportunities. Topstep primarily funds futures trading through its Trading Combine evaluation, which uses a subscription model and strict risk controls before granting funded accounts. FundingPips offers crypto-friendly challenges with one-time fees, defined profit targets, and static drawdown caps. Once funded, FundingPips provides flexible payout cycles, while Topstep ties withdrawals to performance metrics such as winning trading days. Understanding these differences helps traders choose between a structured futures evaluation model and a flexible crypto challenge program.
Table of Contents
- Definitions
- How Topstep Works
- How FundingPips Works
- Fees Compared
- Drawdown & Risk Rules Compared
- Payout Structures Compared
- Choosing Between Topstep & FundingPips
- Beginner Checklist
- FAQs
- Safety & Compliance Notes
- Sources & Further Reading
Definitions
Prop Firm
A company that allocates trading capital to external traders and shares profits with them.
Evaluation / Challenge
A testing phase where traders must meet profit targets and risk limits to qualify for funded trading.
Profit Split
The percentage of profits retained by the trader after the firm’s share.
Drawdown Limit (Overall)
The maximum cumulative loss allowed before the evaluation fails.
Daily Loss Limit
The maximum loss allowed within a single trading day.
Subscription Fee
A recurring fee charged to maintain access to an evaluation program.
One-Time Fee
A single payment required to enter a trading challenge.
Payout Cycle
The schedule that determines when traders can withdraw profits.
How Topstep Works
Quick Answer
Topstep evaluates traders through a monthly subscription-based Trading Combine, primarily focused on futures markets including crypto futures.
Why it matters
The subscription model encourages traders to develop consistent trading habits and disciplined risk management before accessing funded accounts.
How to do it
- Choose a Topstep Trading Combine account size.
- Subscribe to the monthly evaluation plan.
- Trade within profit targets and risk limits.
- Maintain required trading consistency and minimum trading days.
- Pass the evaluation to receive a funded account.
- Request payouts after meeting winning day requirements.
Common mistakes
- Underestimating subscription costs if evaluations take multiple months
- Ignoring consistency rules or minimum trading day requirements
- Assuming spot crypto trading is available
Example
A trader subscribes to a $99 monthly Topstep Combine, meets profit and risk requirements over several trading days, and then becomes eligible for a funded account and profit withdrawals.
How FundingPips Works
Quick Answer
FundingPips provides one-step and two-step crypto challenges with fixed profit targets and static drawdown limits.
Why it matters
The one-time fee structure makes budgeting easier, and flexible payout cycles allow traders to access profits more frequently.
How to do it
- Choose a FundingPips challenge size (e.g., $5K–$100K).
- Pay the one-time challenge fee.
- Trade to meet the profit target.
- Stay within daily and overall drawdown limits.
- Pass the evaluation and receive funded status.
- Request payouts according to the selected cycle.
Common mistakes
- Misinterpreting drawdown rules
- Ignoring minimum trading day requirements
- Trading too aggressively to reach targets quickly
Example
A trader enters a two-step FundingPips challenge, targeting 8% profit in phase one and 5% in phase two, with 5% daily and 10% overall drawdown caps.
Fees Compared
Quick Answer
Topstep uses recurring monthly subscription fees, while FundingPips charges one-time challenge fees that may be refunded after the first payout.
Why it matters
Recurring fees can accumulate if evaluations take longer, whereas one-time fees provide predictable upfront costs.
| Feature | Topstep | FundingPips |
|---|---|---|
| Fee model | Monthly subscription | One-time challenge fee |
| Refunds | Not typical | Often refunded on first payout |
| Account sizes | Multiple tiers | Multiple tiers |
| Reset costs | Possible | Possible |
Example
A trader might pay $99 per month for a Topstep Combine, while a $50K FundingPips crypto challenge might cost around $239 once.
Drawdown & Risk Rules Compared
Quick Answer
FundingPips typically uses static daily and overall drawdown caps, while Topstep applies end-of-day loss limits and structured risk controls during evaluation.
Why it matters
Different drawdown models affect how traders manage risk and position sizing.
| Risk Rule | Topstep | FundingPips |
|---|---|---|
| Daily loss limit | Yes | Around 5% |
| Overall drawdown | Structured limits | Around 10% |
| Drawdown type | End-of-day equity model | Static drawdown |
| Consistency rules | Often required | Usually minimal |
Example
FundingPips may enforce 5% daily and 10% overall drawdown limits, while Topstep uses risk thresholds tied to end-of-day equity levels.
Payout Structures Compared
Quick Answer
Topstep payouts depend on meeting winning day requirements, while FundingPips offers multiple payout cycles including weekly and bi-weekly withdrawals.
Why it matters
Payout timing affects when traders can access profits and manage capital.
| Feature | Topstep | FundingPips |
|---|---|---|
| First payout | After qualifying winning days | After meeting funded conditions |
| Frequency | Structured schedule | Weekly, bi-weekly, or monthly |
| Profit split | Up to 100% initially | Up to 100% depending on plan |
Example
Topstep may require five profitable trading days before a payout request, while FundingPips might allow bi-weekly payouts after reaching profit thresholds.
Choosing Between Topstep & FundingPips
Quick Answer
Choose FundingPips if you want crypto-focused challenges with fixed costs, and choose Topstep if you prefer a structured futures evaluation with strong risk discipline.
Why it matters
Your preferred market and evaluation style should guide your choice.
Consider Topstep if you prefer
- Structured evaluation rules
- Futures trading exposure
- Consistency-based performance metrics
Consider FundingPips if you prefer
- Crypto-focused challenges
- One-time challenge fees
- Flexible payout schedules
Example
A crypto trader seeking frequent payouts may prefer FundingPips, while a futures trader seeking structured evaluation discipline may choose Topstep.
Beginner Checklist
- Review official rules for both programs
- Compare subscription vs one-time challenge fees
- Understand profit targets and drawdown limits
- Learn payout eligibility requirements
- Test strategies on demo before entering a challenge
- Budget for multiple attempts if needed
- Confirm supported instruments and trading platforms
- Plan risk management before trading
- Track drawdown levels during trading
- Review payout schedules and withdrawal minimums
FAQs
Can I trade crypto directly with Topstep?
Topstep primarily funds futures trading, including crypto futures contracts rather than spot crypto markets.
Are FundingPips challenge fees refundable?
FundingPips may refund the challenge fee after the first successful payout, depending on the plan.
Which program has lower upfront cost?
FundingPips typically has lower upfront costs due to one-time fees instead of monthly subscriptions.
Do both allow news trading?
FundingPips usually allows news trading; Topstep rules depend on the specific futures market.
Are overnight or weekend trades allowed?
Crypto trading at FundingPips may allow overnight holding, while Topstep futures trading may require closing positions before market breaks.
Which program pays out faster?
FundingPips may offer faster payout cycles due to weekly or bi-weekly options.
Can Topstep fees accumulate?
Yes. Monthly subscription costs continue until you pass the evaluation.
Does FundingPips offer scaling?
Yes. FundingPips provides scaling plans that increase trading capital after consistent performance.
Safety & Compliance Notes
This article is for educational purposes only and does not constitute financial advice. Proprietary trading challenges involve risk, including potential loss of evaluation fees and trading capital. Always review official firm documentation and risk disclosures before participating.
Sources & Further Reading
Next Article To Read: FundingPips vs Funded Trading Plus (stocks): fees, drawdown rules, and payouts compared (2025)