Introduction:
As experienced traders at WhichFunded, we have had the opportunity to trade with both the Topstep Funded Trading Program and FTMO Prop Trading Firm. In this blog post, we will provide an objective comparison of these two reputable firms, highlighting their key features, evaluation processes, payout systems, trading platforms, and additional benefits. By examining these aspects, we aim to help aspiring traders make an informed decision when choosing a prop trading firm.
| Prop Firm Details | FTMO | TopStep |
| Year Founded | 2014 | 2010 |
| Maximum Balance | $2,000,000 | $150,000 |
| Tradeable Assets | Forex Indices Metals Commodities Stocks Crypto |
Equity Futures Forex Futures Agricultural Futures Energy Futures Interest Rate Futures Metals Futures |
| Challenge Type | Two Step Evaluation | Two Step Evaluation |
| Trading Platforms | MT4 MT5 cTrader |
Web NinjaTrader Tradovate Rithmic Volfix ATAS Quantower TradeNavigator SierraChart MultiCharts MotiveWave RInvestor Bookmap |
| Trading Hours | Holding Overnight Holding Over Weekend |
❌ |
| Copy Trading | ✅ | ✅ |
| News Trading | ✅ | ✅ |
| EAs | ✅ | ✅ |
| Trust Pilot Rating⭐ | 4.9 / 5.0 | 4.9 / 5.0 |
| Trust Pilot Reviews | 4,408 | 1,558 |
| Payment Types | Wire Transfer Skrill Crypto Credit Card Google Pay Nuvei Checkout.com Confirmo |
Wire Transfer Paylpal Crypto Payoneer Coinbase Revolut Wise Credit Card |
| Two Step Rules | FTMO | TopStep |
| Profit Target Step 1 | 10% | 6% |
| Profit Target Step 2 | 5% | 6% |
| Max Daily Loss | 5% | 2% |
| Max Daily Drawdown | ❌ | ❌ |
| Max Loss | 10% | ❌ |
| Max Drawdown | ❌ | 3% – 4% |
| Min Trading Days Step 1 | 10 | 5 |
| Min Trading Days Step 2 | 10 | ❌ |
| Max Trading Days Step 1 | 30 | ❌ |
| Max Trading Days Step 2 | 60 | ❌ |
| Profit Split | 80%, up to 90% | 90% |
Evaluation Process:
Topstep Funded Trading Program offers traders the Trading Combine® evaluation process, which tests their skills, discipline, and risk management techniques under real market conditions. Successful completion of the evaluation grants traders access to a Funded Account®. On the other hand, FTMO’s evaluation process consists of the FTMO Challenge and Verification stages. Traders need to meet the Trading Objectives to progress to the Verification stage and become an FTMO Trader. Both firms have rigorous evaluation processes that aim to identify talented traders.
Account Sizes and Payouts:
Topstep Funded Trading Program offers three Trading Combine® account sizes, ranging from $50,000 to $150,000 in buying power. Traders can choose the account size that aligns with their goals and experience levels. The profit split in this program is 90/10, where traders can keep 100% of their first $10,000 in profits and 90% thereafter. Payouts are processed quickly, typically within 7 hours.
FTMO Prop Trading Firm provides traders with the opportunity to manage an FTMO Account with a balance of up to $400,000. The default profit split ratio is 80/20 for FTMO Traders. However, by meeting the conditions of the Scaling Plan, traders can increase their account balance by 25% every 4 months and enjoy a higher profit split ratio of 90/10. Traders can request payouts on-demand and choose their preferred Profit Split Day.
Trading Platforms and Instruments:
Topstep Funded Trading Program supports various trading platforms, including popular options like MT4, MT5, and cTrader. Traders have access to a wide range of instruments, including futures, forex, and commodities. The program aims to simulate real market conditions, offering low commissions, super-raw spreads, and no markup.
Similarly, FTMO Prop Trading Firm provides traders with access to reliable trading platforms such as MT4, MT5, and cTrader. Traders can trade a diverse range of instruments, including forex, indices, crypto, and commodities. The trading conditions are designed to replicate real market conditions, ensuring traders can implement their preferred trading strategies.
Additional Benefits and Support:
Topstep Funded Trading Program offers additional benefits such as the Funded Trader Certificate, First Payout Bonus, and the opportunity to join the exclusive Topstep Payout Club. Traders can access educational resources, coaching sessions, personalized stats, and tips through Coach T™, and engage with a supportive community through a dedicated Discord chatroom.
FTMO Prop Trading Firm provides traders with custom trading apps to assist with discipline, journaling, and market analysis. Traders can benefit from account analysis, unbiased feedback, and support from the customer support team. FTMO also offers educational resources through its Trading Academy, including tutorials, webinars, and collaborations with experienced traders and mentors.
Conclusion:
After trading with both the Topstep Funded Trading Program and FTMO Prop Trading Firm, we can confidently say that both firms offer valuable opportunities for traders. Topstep excels in its well-structured Trading Combine® evaluation process, flexible account sizes, and attractive profit split ratios. FTMO stands out with its generous account balances, competitive profit splits, and additional benefits like custom trading apps and educational resources.
Ultimately, the choice between these two firms depends on individual preferences, trading goals, and the evaluation process that aligns better with a trader’s strengths. We encourage aspiring traders to thoroughly research and consider their trading style and objectives before making a decision. Both Topstep Funded Trading Program and FTMO Prop Trading Firm provide supportive and rewarding trading experiences, paving the way for traders to unlock their full potential.
