Topstep Crypto Prop Firm: Programme Rules and Fees

Overview of Topstep

Topstep provides crypto futures prop trading through CME-listed Micro Bitcoin (MBT) and Micro Ether (MET) products. You can't buy, sell or hold spot crypto, trade crypto CFDs or perpetual futures, or utilise crypto withdrawals and wallets. The prop firm is well known internationally, but more popular among futures traders looking for access outside of cryptocurrency (i.e. commodity, index and forex futures).

Topstep is a futures prop firm operated by Topstep LLC. It was originally founded in 2010 as Patak Trading Partners and launched the Trading Combine programme in 2012 to give retail traders a structured route toward funded-style futures trading.

To access a funded account where you can trade crypto-linked futures, you first need to pass the Trading Combine. This is a simulated evaluation where traders follow Topstep's Maximum Loss Limit, Profit Target and Consistency Target before earning an Express Funded Account.

For crypto traders, the major limitation is there are only two crypto markets, with CME micro futures linked to Bitcoin and Ether prices. You do not buy BTC or ETH, hold coins, trade token pairs, use stablecoins, trade perpetual futures, or withdraw crypto to a wallet.

If you pass the Trading Combine, you can move to an Express Funded Account, which is also simulated but can pay real payouts based on your trading results. Topstep may later move selected traders to a Live Funded Account through TopstepFunded LLC, but traders cannot request that move themselves.

This matters because Topstep is built for futures-style prop trading, not 24/7 crypto trading. If you are used to Binance, Kraken, Bybit or perpetual futures, you will need to adjust to CME product access, weekday close rules, payout terms, market conditions, and risk requirements.

Crypto Trading Fees

Topstep's crypto costs are futures and prop firm costs, not CFD pricing. You are not paying a crypto CFD spread, overnight financing charge, swap rate, blockchain fee or exchange wallet withdrawal fee. The main costs are the Trading Combine subscription, funded account fees, futures round-turn commissions, market data add-ons and optional API access.

The futures commission is charged per completed trade. For MBT and MET, the round-turn cost includes the trade entry and exit. This is the key crypto trading cost for active Bitcoin and Ether futures traders because it applies each time a position is opened and closed.

The account cost matters too. Before reaching an Express Funded Account, you pay for the Trading Combine evaluation. If you pass, the next cost depends on whether you chose the Standard Path or the No Activation Fee Path.

Evaluation Process Fees

The Trading Combine is the evaluation process, where you choose an account size, pay a monthly subscription fee and trade under Topstep's futures prop firm rules. The cost depends on whether you choose the Standard Path or the No Activation Fee Path.

The Standard Path has the lower monthly fee, but a $149 activation fee applies once you pass the evaluation to reach the Express Funded Account (XFA). The No Activation Fee Path has a higher monthly fee, but the XFA activation fee is $0 if you pass the evaluation process.

This matters for crypto futures traders because Ether and Bitcoin markets can move quickly, and paying more for the No Activation Fee Path only makes sense if you expect the higher subscription cost to be cheaper than paying an activation fee later.

Funded Account Fees

After passing the Trading Combine, you can activate your Express Funded Account. Activation and reactivation are separate costs, and the amount depends on the prop account size and evaluation you chose initially.

Back2Funded is only for eligible Express Funded Accounts that close before the first profit payout, earned through Topstep's Trading Combine, closed due to a rule violation before withdrawing a payout, and you must be in good standing. The reactivation fee does not remove the need to manage the Maximum Loss Limit, so if you hit the XFA loss limit again, your funded account can close again, and for reactivation you pay another fee.

Additional Fees

These additional costs for features like deeper data and API access are not crypto market specific, but they affect the total cost of trading crypto futures through Topstep.

Resets cost the same as the monthly rebill. Level 2 is billed monthly and is not prorated.

Crypto Futures Commission

Topstep's crypto trading commission is charged as a futures round-turn cost. A round turn means the total cost after both sides of the trade are completed.

Crypto Markets

Topstep only gives you access to two crypto markets, through CME-listed Micro Bitcoin (MBT) and Micro Ether (MET) futures.

While there are only two crypto futures markets, Topstep also supports other futures products across equity indices, foreign exchange, agricultural commodities, livestock, energy, metals and interest rates on CME, COMEX, NYMEX and CBOT exchanges.

Crypto Products Available

BTC

ETH

Liquidity and Execution

Topstep crypto trading is futures trading, so you are trading exchange-listed contracts, not a crypto exchange order book. As Topstep offers such a narrow crypto futures product list, the prop firm suits traders who prefer CME-style futures contracts and a centralised futures market, focusing solely on Bitcoin and Ether.

It doesn't work if you want weekend crypto liquidity, perpetual swaps, altcoin pairs or direct token ownership.

Can You Hold Crypto Positions Overnight or Over the Weekend?

Trading Platforms and Tools

Topstep uses TopstepX, its proprietary futures platform, as its main trading software. The supported platform is designed to suit the CME futures market, with built-in risk controls, TradingView charting and a dashboard tied directly to a prop firm account.

TopstepX risk tools are useful for crypto futures because MBT and MET can move quickly. A Personal Daily Profit Target can help stop one large day from pushing against Topstep's consistency framework, while a Personal Daily Loss Limit can reduce the chance of a large crypto futures move ending the account.

Trust and Safety

Topstep is a US-based futures prop firm that allows you to trade CME-listed products, but it is not a regulated broker or crypto exchange. The Trading Combine and Express Funded Account stages are both simulated trading environments. This means you are not opening a personal futures brokerage account in your own name when you trade through the Trading Combine or XFA.

Legal Entity and Broker Setup

Is Topstep Regulated?

No, Topstep's prop firm programme is not a regulated brokerage account. The Trading Combine and Express Funded Account are simulated account stages, not personal futures brokerage accounts in your own name. Topstep does have a separate brokerage affiliate, Topstep Brokerage LLC, which is registered as an introducing broker and NFA member, but that does not make the Trading Combine or XFA regulated brokerage accounts.

Topstep Brokerage

Topstep Brokerage LLC was established in 2026, as a separate entity from the prop firm programme this page covers. It is designed for futures traders who want to trade their own capital in live markets, while the prop firm arm focuses on the Trading Combine, Express Funded Account and possible Live Funded Account route.

While we classify firms like DNA Funded and FundedNext as broker-backed because they utilise their brokerage pricing feeds (accessible by retail traders around the world), Topstep doesn't fall into that category yet. It's a separate, waitlist-based product currently aimed at US traders and residents only.

Account Security and Identity Checks

Topstep requires multi-factor authentication (MFA) for the dashboard, and its Know Your Customer (KYC) process can require a government ID and a device with a camera. This matters because payouts and further purchases can be affected if identity verification is not completed.

Funding and Withdrawals

Payouts for funded traders are processed regularly via bank transfers, not crypto wallets. For current traders, you keep a 90% share of approved payouts and Topstep keeps 10%.

There is one legacy exception for futures traders who opened a Topstep prop account before 12 January 2026, who can still receive 100% of their first $10,000 in lifetime profits, then move to the standard 90% profit share. Any new Topstep traders should treat 90% as the standard profit sharing agreement from now on.

Profit Payouts

The profit payout setup may suit traders if they are fine with a $125 minimum payout and multiple cash payout routes, including Aeropay, Wise, ACH and Wire/SWIFT. It is less suitable for crypto-native traders who want USDC, USDT, BTC or ETH payouts, because Topstep does not pay prop firm profits through crypto wallets.

Payout Methods and Fees

Topstep does not support crypto withdrawals or wallet payouts. Traders cannot withdraw profits in BTC, ETH, USDC or USDT, and there is no on-chain wallet option. Payouts are made through cash-based payment methods, so crypto traders should treat Topstep payouts as fiat-style prop firm payouts rather than crypto withdrawals.

Risk and Trading Rules

Topstep is a futures prop firm, so its crypto rules are based on account limits, trading objectives and simulated funded account conditions rather than crypto exchange leverage or wallet balances.

For crypto traders, the biggest rule is that Micro Bitcoin (MBT) and Micro Ether (MET) cannot be traded like 24/7 crypto markets. Positions must be closed before Topstep's daily cut-off, and traders need to manage fast Bitcoin and Ether futures moves within strict loss limits.

Main Topstep Trading Rules

• Trading hours - positions must be closed before 3:10 PM CT or before the relevant product close (whichever comes first). MBT and MET cannot be held overnight or over the weekend
• Profit targets - $3000 for 50K accounts, $6000 for 100K accounts and $9000 for 150K accounts
• Maximum Loss Limit - $2000 for 50K, $3000 for 100K and $4500 for 150K. It is trailing, can be triggered by unrealised losses, and can close the account if reached
• Position limits - maximum 5 contracts or 50 micros on 50K accounts, 10 contracts or 100 micros on 100K, and 15 contracts or 150 micros on 150K accounts
• Micro contract treatment - micros and minis count at a 10:1 ratio in the Trading Combine and Express Funded Account
• Daily Loss Limit - optional in the Trading Combine and Express Funded Account, automatic in the Live Funded Account
• Trading Combine consistency rule - your best trading day should stay at or below 50% of total profits
• XFA Consistency payout rule - the largest single-day net profit must stay at or below 40% of total net profit to qualify for payout
• Minimum time to pass - you can pass the Trading Combine in as few as 2 days if the profit target and consistency rules are met
• News trading allowed - Topstep does not require traders to flatten positions for high-impact economic releases, but trades affected by news volatility are not eligible for reset credits
• Automated trading allowed - with rules and requirements in the Trading Combine and XFA, but Topstep does not provide setup help or make exceptions for malfunctions
• ProjectX API in LFA - ProjectX API automation is prohibited in the Live Funded Account
• Copy trading - allowed across multiple XFAs, but hedging, coordinated trading and opposite-position strategies across accounts are prohibited
• VPNs and remote servers - VPNs, VPS setups, proxies, TOR, geo-location masking and remote servers are all prohibited

Account Limits

Topstep's loss limits are based on account equity and unrealised profit and loss, not just closed trades. This means a fast move against an open MBT or MET position can breach the account before the trader has time to recover.

Geographic Restrictions

Topstep eligibility depends on both citizenship and residency. The minimum age is 18, and US citizenship is not required, but traders from OFAC-sanctioned or partner-restricted countries cannot trade, earn funding or receive payouts.