Apex Trader Funding vs Topstep
Apex Trader Funding and Topstep represent two distinct approaches to futures prop trading, with fundamental differences in risk management and trader flexibility. Apex uses trailing intraday drawdown that locks in profits throughout the trading day, while Topstep employs end-of-day trailing drawdown that only adjusts at market close. Apex offers 100% profit splits on the first $25,000 with flexible payout timing every 5 trading days, compared to Topstep's 80% split with bi-monthly payouts. Both firms support major futures platforms like NinjaTrader and TradingView, though they differ significantly in consistency requirements and position holding rules.
Key Differences
- •Drawdown calculation: Apex uses intraday trailing with unrealized gains vs Topstep's end-of-day trailing without unrealized profits
- •Position holding: Apex requires closing all positions before session end vs Topstep allows overnight holdings on funded accounts
- •Consistency rules: Apex limits best trading day to 50% of total profit vs Topstep has no consistency requirements
- •Account limits: Apex allows 20 accounts vs Topstep's 3-account maximum
Apex Trader Funding suits aggressive intraday futures traders who want to maximize early profits and prefer frequent payouts. The firm's allowance for up to 20 accounts and no daily loss limits appeals to scalpers and day traders who close all positions before market close.
Topstep works best for swing traders and those who prefer more predictable drawdown calculations based on end-of-day balances. Traders who want to hold overnight positions and prefer fewer restrictions on profit distribution should consider Topstep's more flexible approach.