Choosing between FTMO, Apex Trader Funding, and TopStep? These are the three most popular prop firms in 2025, but they serve very different traders. FTMO dominates forex/CFD trading with up to $2M in funding. Apex leads futures trading with 100% profit splits on your first $25K. TopStep offers structured education and institutional backing for beginners. This complete comparison breaks down pricing, profit splits, evaluation rules, and which firm is best for your trading style.
Quick Verdict: Which Should You Choose?
- FTMO - Best for forex/CFD/multi-asset traders, maximum scaling to $2M, 80-90% splits, one-time fees
- Apex - Best for futures traders, 100% first $25K then 90% splits, maximum flexibility, minimal rules
- TopStep - Best for beginner futures traders, 100% first $10K then 90%, structured education, 15+ year reputation
Overview: FTMO vs Apex vs TopStep at a Glance
| Feature | FTMO | Apex Trader Funding | TopStep |
|---|---|---|---|
| Best For | Forex/CFD/Multi-Asset | Futures (Flexibility) | Futures (Beginners) |
| Trustpilot Rating | 4.8/5 (16,306 reviews) WINNER | Not listed | 4.6/5 (6,663 reviews) |
| Established | 2015 (10 years) | 2021 (4 years) | 2012 (13 years) WINNER |
| Profit Split | 80-90% | 100% first $25K, 90% after WINNER | 100% first $10K, 90% after |
| Maximum Funding | $2,000,000 WINNER | $300,000 | $150,000 |
| Pricing Model | One-time fee ($155-$1,080) | Monthly subscription ($167-$377) | Monthly subscription ($165) |
| Evaluation | 2-step (30 + 60 days) | 1-step (unlimited time) WINNER | 1-step (subscription model) |
| Asset Classes | Forex, Stocks, Crypto, Indices WINNER | Futures only | Futures only |
| Trading Platforms | MT4, MT5, cTrader | TradingView, Rithmic, NT | NinjaTrader, TradingView |
| Payout Frequency | Bi-weekly (every 14 days) | On-demand (anytime) WINNER | Daily after criteria met WINNER |
| Processing Time | 1-3 business days | 1-2 business days | 1-2 business days (24-48 hrs) |
| Daily Loss Limit | 5% of account | None (only max drawdown) WINNER | $2,000-$5,000 depending on account |
Detailed Breakdown: FTMO
FTMO
Best For: Forex and CFD traders who want maximum scaling potential ($2M) and prefer one-time evaluation fees over recurring subscriptions.
Key Features:
- Profit Split: 80% standard, upgradeable to 90% through Scaling Plan after consistent performance
- Account Sizes: $10K, $25K, $50K, $100K, $200K (start), scale to $2M maximum
- Pricing: One-time fee: $155 ($10K), $250 ($25K), $345 ($50K), $540 ($100K), $1,080 ($200K) - fully refundable on first payout
- Evaluation: 2-step process (Phase 1: 30 days, Phase 2: 60 days), but can be completed faster
- Profit Targets: Phase 1: 10%, Phase 2: 5%
- Risk Limits: 5% daily loss, 10% max drawdown (trailing)
- Assets: 200+ instruments - forex, stocks, indices, commodities, crypto
- Platforms: MetaTrader 4, MetaTrader 5, cTrader
- Payouts: Bi-weekly, 1-3 business days processing, PayPal/Wire/Skrill/Crypto
- Track Record: 16,306 Trustpilot reviews averaging 4.8/5 stars
Pros
- Highest maximum funding ($2M in the industry)
- Multi-asset trading (forex, stocks, crypto, indices)
- One-time fee structure (no recurring costs)
- Excellent reputation (4.8/5 with 16K+ reviews)
- Comprehensive Scaling Plan improving split to 90%
- Free trial available to test evaluation
- Multiple platform options (MT4/MT5/cTrader)
Cons
- Higher upfront costs ($155-$1,080 vs Apex/TopStep's monthly)
- 80% initial split lower than Apex/TopStep's 100%
- 2-step evaluation takes longer than Apex's 1-step
- Bi-weekly payouts less flexible than Apex's on-demand
- Primarily forex-focused (futures traders may prefer Apex/TopStep)
- 5-day minimum trading requirement can pressure some traders
Choose FTMO If:
You trade forex, stocks, or CFDs | You want maximum scaling to $2M | You prefer one-time fees over subscriptions | You're an experienced trader ready for a 2-step challenge | You prioritize industry reputation and established track record (10 years)
Detailed Breakdown: Apex Trader Funding
Apex Trader Funding
Best For: Futures traders who want maximum flexibility, highest profit splits, and minimal rules.
Key Features:
- Profit Split: 100% of first $25,000 earned, then 90% on all additional profits (best in industry)
- Account Sizes: $25K, $50K, $100K, $150K, $250K, $300K
- Pricing: Monthly subscription: $167 ($50K), $207 ($100K), $297 ($150K), $377 ($250K-$300K)
- Evaluation: 1-step Rithmic Evaluation, unlimited time to complete
- Profit Target: $3,000 for $50K account (6%), $6,000 for $100K (6%)
- Risk Limits: No daily loss limits - only max trailing drawdown ($2,000-$10,000 depending on account)
- Assets: Futures only - ES, NQ, YM, RTY, crude oil, gold, etc.
- Platforms: TradingView, Rithmic, NinjaTrader
- Payouts: On-demand (request anytime), 1-2 business days, Wire/Crypto/PayPal
- Track Record: Established 2021, rapidly growing user base
Pros
- Best profit split structure (100% first $25K, 90% after)
- No daily loss limits - only max drawdown
- One-step evaluation (faster than FTMO's 2-step)
- Unlimited time to pass evaluation
- On-demand payouts (withdraw anytime)
- Lower monthly costs than expected profits justify
- Simple, transparent rules
- TradingView integration (modern platform)
Cons
- Recurring monthly fees ($167-$377) vs FTMO's one-time
- Futures only (no forex, stocks, crypto)
- Lower maximum funding ($300K vs FTMO's $2M)
- Newer firm (2021 vs TopStep 2012, FTMO 2015)
- Less institutional backing than TopStep
- Subscription model means ongoing costs in slow months
Choose Apex If:
You trade futures exclusively (ES, NQ, commodities) | You want the highest profit splits (100%/$25K) | You value flexibility and minimal rules | You prefer on-demand payouts | You use TradingView or want modern platforms | You're an aggressive trader who needs no daily loss limits
Detailed Breakdown: TopStep
TopStep
Best For: Beginner and intermediate futures traders who value structure, education, and a proven 13-year track record.
Key Features:
- Profit Split: 100% of first $10,000 earned, then 90% on all additional profits
- Account Sizes: $50K, $100K, $150K
- Pricing: $165/month ($50K), $325/month ($150K) - no separate evaluation fee
- Evaluation: 1-step Trading Combine, subscription model (no time limit while subscribed)
- Profit Target: $3,000 for $50K account (6%), $6,000 for $100K (6%)
- Risk Limits: Daily loss limits ($2,000-$5,000), max trailing drawdown ($2,000-$6,000)
- Assets: Futures only - ES, NQ, YM, crude oil, gold, bonds
- Platforms: NinjaTrader, TradingView, MotiveWave
- Payouts: Daily after meeting criteria, 1-2 business days (24-48 hours), Wire/Check/Direct Deposit
- Track Record: $200M+ paid out since 2012, 6,663 Trustpilot reviews at 4.6/5
Pros
- Longest track record (13 years, $200M+ paid)
- Excellent reputation (4.6/5 with 6,663 reviews)
- Daily payouts (fastest among the three)
- 100% first $10K profit split
- No separate evaluation fee (included in subscription)
- Strong educational resources and trader support
- Structured approach perfect for beginners
- Consistency rules teach discipline
Cons
- 100% threshold lower than Apex ($10K vs $25K)
- Recurring monthly fees ($165-$325)
- Lower maximum funding ($150K vs Apex $300K, FTMO $2M)
- Futures only (no forex, stocks, crypto)
- Consistency rule restricts making 80%+ profit in one day
- More rigid rules compared to Apex's flexibility
Choose TopStep If:
You're a beginner or intermediate futures trader | You value institutional backing and 13-year reputation | You want daily payouts | You prioritize structure and education over flexibility | You appreciate consistency rules that teach discipline | You want $200M+ payout track record for confidence
Head-to-Head Comparisons
FTMO vs Apex: Forex Trader vs Futures Trader
Winner depends on your asset class:
- If you trade forex/CFDs: FTMO wins decisively - it's designed for multi-asset trading with 200+ instruments, while Apex doesn't offer forex at all
- If you trade futures: Apex wins for most traders - 100% first $25K beats FTMO's 80%, no daily loss limits provide more flexibility, one-step evaluation is faster, and on-demand payouts are more convenient than bi-weekly
- If you need maximum funding: FTMO wins - $2M max vs Apex's $300K means 6.6x more capital potential for long-term scaling
- If you want lowest ongoing costs: FTMO wins - one-time fee ($155-$1,080) refunded on first payout vs Apex's ongoing $167-$377/month
Apex vs TopStep: Which Futures Firm Is Better?
Both are excellent futures-only firms with different philosophies:
| Factor | Apex Wins | TopStep Wins |
|---|---|---|
| Profit Split | ✅ 100% first $25K (vs $10K) | |
| Maximum Funding | ✅ $300K (vs $150K) | |
| Flexibility | ✅ No daily loss limits | |
| On-Demand Payouts | ✅ Withdraw anytime | |
| Track Record | ✅ 13 years, $200M+ paid | |
| Daily Payouts | ✅ Fastest payout frequency | |
| Beginner-Friendly | ✅ Structure and education | |
| Lower Monthly Cost | ✅ $165 vs $167-$377 |
Verdict: Apex for experienced traders wanting maximum flexibility and profit splits. TopStep for beginners/intermediates wanting structure, education, and proven reputation.
FTMO vs TopStep: Multi-Asset vs Futures Specialist
These firms target completely different audiences:
- FTMO: Multi-asset trader (forex, stocks, CFDs, crypto), wants maximum scaling to $2M, prefers one-time fees, experienced with 2-step evaluations
- TopStep: Futures-only trader, beginner-friendly approach, values daily payouts and structure, prefers subscription model with no separate eval fee
They rarely compete directly because FTMO traders typically want forex/stocks (not available at TopStep), while TopStep traders want futures-specific education and structure (not FTMO's focus).
Pricing Breakdown: Total Cost Analysis
Total Cost to Get Funded (6 Months)
FTMO: $345 (one-time for $50K) - refunded on first payout = $0 effective cost
Apex: $167/month × 6 months = $1,002 (ongoing even after funded)
TopStep: $165/month × 6 months = $990 (ongoing even after funded)
Assuming you pass evaluation in month 1 and trade for 6 months funded
Key Insight: FTMO's one-time fee becomes effectively free when refunded, making it the lowest total cost. Apex and TopStep have ongoing monthly fees even after you're funded, which adds $1,980-$2,004 annually.
⚠️ Hidden Cost: Monthly Subscriptions During Slow Months
Apex and TopStep charge monthly fees regardless of your trading activity. If you take a month off or have a slow month, you still pay $165-$377. FTMO has no such recurring costs after you're funded. Over a year, this is $1,980-$4,524 in fees with subscription models vs $0 with FTMO's one-time structure.
Evaluation Difficulty: Which Is Easier to Pass?
Pass rates aren't publicly disclosed, but we can analyze evaluation difficulty:
Easiest: Apex Trader Funding
- Why: No daily loss limits (only max drawdown), unlimited time, one-step evaluation, flexible rules
- Profit Target: 6% ($3,000 on $50K)
- Time Pressure: None (unlimited time)
- Estimated Pass Rate: 30-40% (based on industry estimates for flexible rules)
Moderate: TopStep
- Why: One-step, but has daily loss limits and consistency rules
- Profit Target: 6% ($3,000 on $50K)
- Time Pressure: None while subscribed
- Consistency Rule: Can't make 80%+ of profit in one day (adds difficulty)
- Estimated Pass Rate: 20-25%
Hardest: FTMO
- Why: Two-step evaluation, higher profit targets, 5-day minimum trading requirement
- Profit Target: Phase 1: 10% ($5,000 on $50K), Phase 2: 5% ($2,500)
- Time Pressure: 30 days Phase 1, 60 days Phase 2
- Estimated Pass Rate: 10-15% (industry standard for 2-step challenges)
💡 Pro Tip: Start with Easier Evaluations First
If you're new to prop firm evaluations, start with Apex or TopStep to build confidence. Once you've passed and proven your strategy works under evaluation pressure, tackle FTMO's more rigorous 2-step challenge for access to multi-asset trading and $2M scaling potential.
Final Recommendation: Which Should You Choose?
Choose FTMO If:
- You trade forex, stocks, CFDs, or crypto (not just futures)
- You want maximum scaling potential ($2M)
- You prefer one-time fees over recurring subscriptions
- You're an experienced trader ready for a 2-step challenge
- You value 10-year track record and 16K+ reviews
- You want to avoid ongoing monthly costs after getting funded
Choose Apex Trader Funding If:
- You trade futures exclusively (ES, NQ, commodities)
- You want the highest profit splits (100% first $25K, 90% after)
- You need maximum flexibility (no daily loss limits)
- You prefer on-demand payouts (withdraw anytime)
- You want a faster, easier 1-step evaluation
- You use TradingView and want modern platforms
Choose TopStep If:
- You're a beginner or intermediate futures trader
- You value structure, discipline, and education
- You want daily payouts (fastest payout frequency)
- You prefer 13-year institutional backing and $200M+ payout history
- You appreciate consistency rules that teach discipline
- You want no separate evaluation fee (included in subscription)
Can You Use Multiple Prop Firms Simultaneously?
Yes, and many successful traders do. Here's a popular strategy:
Multi-Firm Strategy
- Start with Apex or TopStep - Pass the easier 1-step futures evaluation first to build confidence and get funded capital
- Trade and profit - Generate consistent returns for 3-6 months to prove your strategy
- Add FTMO - Use profits to fund FTMO's evaluation for multi-asset access and $2M scaling potential
- Diversify income - Trade futures on Apex/TopStep, forex/stocks on FTMO, maximize total capital deployed
Result: You could have $50K-$100K on Apex/TopStep + $50K-$200K on FTMO = $100K-$300K total capital, diversified across asset classes and firms to reduce single-point-of-failure risk.
Frequently Asked Questions
Which is better: FTMO, Apex, or TopStep?
The best choice depends on your trading style: FTMO is best for forex/CFD traders wanting maximum scaling to $2M with 80-90% profit splits and one-time evaluation fees ($155-$1,080). Apex Trader Funding is best for futures traders prioritizing flexibility and highest profit splits (100% first $25K, then 90%) with minimal rules and no daily loss limits ($167-$377/month). TopStep is best for beginner futures traders valuing structure, education, and institutional backing with 100% first $10K then 90% split, daily payouts, and 15+ year reputation ($165/month). FTMO has 4.8/5 stars (16,306 Trustpilot reviews), TopStep has 4.6/5 stars (6,663 reviews), both indicating strong legitimacy and payout history.
What are the main differences between FTMO, Apex, and TopStep?
Key differences: (1) Asset Classes - FTMO offers forex, stocks, crypto, indices (multi-asset); Apex and TopStep are futures-only (ES, NQ, commodities). (2) Profit Splits - Apex: 100% first $25K then 90% (best); TopStep: 100% first $10K then 90%; FTMO: 80% (upgradeable to 90% with scaling). (3) Pricing - FTMO: one-time fee $155-$1,080 (no recurring); Apex: $167-$377/month recurring; TopStep: $165/month recurring. (4) Maximum Funding - FTMO: up to $2,000,000 (highest); Apex: $300,000; TopStep: $150,000 (can combine accounts). (5) Evaluation - FTMO: 2-step (30 days + 60 days); Apex: 1-step (unlimited time); TopStep: 1-step (subscription model, no separate eval fee). (6) Payout Frequency - FTMO: bi-weekly; Apex: on-demand anytime; TopStep: daily after meeting criteria. (7) Trading Platforms - FTMO: MT4/MT5/cTrader; Apex: TradingView/Rithmic; TopStep: NinjaTrader/TradingView.
Is FTMO or Apex better for futures trading?
Apex Trader Funding is better for futures trading than FTMO because: (1) Futures specialization - Apex focuses exclusively on futures with optimized platforms (TradingView, Rithmic, NinjaTrader) and direct futures market access, while FTMO primarily serves forex/CFD traders; (2) Higher profit split - Apex offers 100% of first $25K then 90%, vs FTMO's 80-90%; (3) More flexibility - Apex has no daily loss limits (only max drawdown), one-step evaluation, and unlimited time to pass; (4) Lower barriers - Apex's simple rules and flexible evaluation suit aggressive futures strategies better. However, FTMO offers higher maximum funding ($2M vs $300K) if long-term scaling is your priority. For pure futures day trading with maximum flexibility and profit share, Apex wins. For multi-asset trading including futures as part of a diversified approach, FTMO's broader offerings may be preferable.
Which prop firm has the fastest payouts: FTMO, Apex, or TopStep?
TopStep has the fastest payouts with daily withdrawals after meeting profit criteria, typically processing in 1-2 business days (24-48 hours). Apex offers on-demand payouts (request anytime) processed in 1-2 business days with no minimum hold period, giving you maximum flexibility. FTMO processes payouts bi-weekly (every 14 days) in 1-3 business days but requires waiting for the payout cycle. Winner: TopStep for speed (daily), Apex for flexibility (on-demand anytime), FTMO for predictability (scheduled bi-weekly). Payment methods: FTMO offers bank wire, PayPal, Skrill, crypto; Apex offers bank wire, crypto (USDT), PayPal; TopStep offers bank wire, check, direct deposit. Processing speed within cycles is similar (1-3 days) across all three firms once requested.
Can I trade both forex and futures with these prop firms?
FTMO is the only firm among the three that allows trading both forex and futures, plus stocks, indices, commodities, and crypto - making it the best choice for multi-asset traders. FTMO offers access to 200+ instruments across all major asset classes through MT4, MT5, and cTrader platforms. Apex Trader Funding is futures-only, specializing in E-mini contracts (ES, NQ, YM, RTY), crude oil, gold, and other commodity futures through TradingView, Rithmic, and NinjaTrader. TopStep is also futures-only, focusing on the same futures contracts through NinjaTrader, TradingView, and MotiveWave. If you want to trade both forex and futures from one prop firm account, FTMO is your only option among these three. If you want to trade both asset classes professionally, you could maintain accounts at both FTMO (for forex/stocks) and Apex/TopStep (for futures), though this requires passing separate evaluations and managing multiple accounts.
Ready to Choose Your Prop Firm?
FTMO for multi-asset and $2M scaling | Apex for futures flexibility and 100% splits | TopStep for beginner education and structure
Disclaimer: Trading involves substantial risk of loss. Prop firm evaluations have strict rules and most traders do not pass on their first attempt. This comparison is for educational purposes only and does not constitute financial advice. Always do your own due diligence before joining any prop firm.