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Updated 2026-03-08
Topstep vs AquaFunded: Which Prop Firm Is Better?
Traders choosing between Topstep and AquaFunded face a decision between an established futures specialist with unique daily payouts versus a new prop firm offering higher profit splits and more flexible rules. The most significant differences lie in their evaluation structures — Topstep operates a single-phase system with no daily loss limits, while AquaFunded uses a traditional two-phase challenge with 5% daily drawdown restrictions. Topstep's 12-year track record and 14,000 Trustpilot reviews contrast sharply with AquaFunded's 2023 launch and limited review base. This comparison examines their trading rules, payout structures, and which firm better serves different trader profiles.
T
Topstep
Est. 2012 · Chicago, USA
4.4
14,000 reviews
VS
3 wins
4 ties
7 wins
A
AquaFunded
Est. 2023 · N/A
4.3
200 reviews
Feature
Topstep
AquaFunded
Challenge Price ($100K)
N/A
$283
Phase 1 Profit Target
N/A
10%
Phase 2 Profit Target
None (single-phase)✓ Single-phase evaluation
5%
Max Daily Loss
No limit✓ No daily loss limit
5%
Max Total Loss
N/A
10%
Min Trading Days
5 days
None✓ No minimum
Time Limit (Phase 1)
No limit
No limit
Payout Split
50% (up to 90%)
90% (up to 100%)✓ Higher profit split
Topstep
Pros
+Performance-based capital release structure with 20% initial access scaling to full balance
+Daily payout eligibility after 30 benchmark trading days with up to 90% profit split
+Performance bonus program offering over $250,000 in cash bonuses for consistent traders
+Dynamic risk expansion that adjusts daily loss limits as account balance grows
+Live Funded Account structure designed to help transition from simulated to live trading
Cons
−Must maintain account balance above $0 at all times or forfeit account
−Initial payout split limited to 50% until reaching 30 benchmark trading days
−Account automatically closed if inactive for 90 days
−All positions must be closed by 3:10 PM CT daily
−Protective stops required on every open position
AquaFunded
Pros
+Instant funding option available to skip evaluation challenges
+Up to 100% profit split with payout on demand
+No time limits on challenges — trade at your own pace
+Reward guarantee with 24-hour payout or $1000 compensation
Cons
−Relatively new firm (founded 2023) with limited track record
−Lower Trustpilot review count compared to established competitors
−Some account sizes show higher daily loss limits (5%) vs 3% standard
−Instant funding requires higher fees than challenge models
Our Verdict
Which Should You Choose?
AquaFunded suits aggressive traders seeking maximum profit retention and flexible evaluation terms. With 90-100% profit splits versus Topstep's 50-90% range, active traders can significantly increase their take-home earnings. The firm's allowance of news trading, EAs, and no minimum trading days appeals to algorithmic traders and news-focused strategies that Topstep restricts.
Topstep serves conservative traders who prioritize reliability and cash flow consistency. Its single-phase evaluation eliminates the stress of two-phase targets, while daily payouts provide immediate access to profits versus AquaFunded's bi-weekly schedule. The absence of daily loss limits suits scalpers and high-frequency traders who need position flexibility. For beginners, Topstep's 12-year operational history and 4.4/5 rating from 14,000 reviews provides significantly more reliability evidence than AquaFunded's 200 reviews.
Choose AquaFunded if you're an experienced trader prioritizing profit maximization and trading flexibility. Choose Topstep if you value proven stability, immediate payouts, and prefer simplified evaluation rules over maximum profit splits.
Choose Topstep if:
→Performance-based capital release structure with 20% initial access scaling to full balance
→Daily payout eligibility after 30 benchmark trading days with up to 90% profit split
→Performance bonus program offering over $250,000 in cash bonuses for consistent traders
→Dynamic risk expansion that adjusts daily loss limits as account balance grows
Choose AquaFunded if:
→Instant funding option available to skip evaluation challenges
→Up to 100% profit split with payout on demand
→No time limits on challenges — trade at your own pace
Disclaimer:This comparison is for informational purposes only. Prop firm rules change regularly — always verify current terms on each firm's official website before purchasing a challenge. This is not financial advice. Updated 2026-03-08.