FTMO vs Topstep: Which Prop Firm Should You Choose in 2026?

FTMO and Topstep are not really competitors on the same instruments. FTMO funds CFD trading — forex, indices, metals, crypto and stock CFDs — while Topstep only funds CME futures. If you already know what you trade, the choice mostly makes itself: FTMO for CFDs, Topstep for futures. This guide compares what each firm actually charges, requires and pays, using the numbers in our live index.

FTMO vs Topstep: the core difference

FTMO (Prague, founded 2015) runs demo-funded CFD accounts on MT4, MT5, cTrader and DXtrade, tradeable on forex pairs, indices, metals, crypto and stock CFDs. Topstep (Chicago, founded 2012) runs its Trading Combine on TopstepX and only funds CME futures contracts. Neither firm offers the other's instruments, so the real first question is which market you already trade, not which firm is "better".

Cost and evaluation structure at 50K

• FTMO charges a one-time evaluation fee that is fully refunded with your first payout once you are funded.
• Topstep charges a recurring monthly subscription for its Combine — you keep paying until you pass or stop trying.
• FTMO's 2-Step Standard splits the profit target across two phases (10% then 5%); its 1-Step Challenge asks for 10% in one phase but adds a stricter daily loss limit and a consistency rule.
• Topstep's single evaluation path (the Combine) asks for a fixed dollar target — $3,000 on a 50K account, about 6% — with no separate phases.

Profit split and payout speed

Topstep's Standard path pays 90/10 from your very first payout under its January 2026 policy, but early payouts are capped at $5,000 or 50% of your account balance, and you need five winning days of at least $150 each before you can request one. FTMO's 2-Step Standard starts at 80/20 and climbs to 90/10 through the Scaling Plan, but payouts are on-demand every 14 days with no hard dollar cap — and the challenge fee itself comes back to you at that first payout. FTMO's 1-Step Challenge matches Topstep's 90/10 from day one, at the cost of a tighter 3% daily loss limit.

Reputation: what the live numbers say

FTMO holds a 4.8/5 Trustpilot score across roughly 48,000 reviews, among the highest of any firm we track, though a vocal minority of reviews describe payouts denied over risk-rule enforcement. Topstep sits at 3.6/5 across about 14,500 reviews — a score dented by 2025-2026 TopstepX platform outages and a 2026 cut to Express Funded Account payout caps, even though traders who follow the rules generally report being paid without drama. See the full FTMO review and Topstep review for the complete rule set and current Trustpilot figures.

Which one should you pick?

• Trade forex, indices, metals or crypto CFDs — FTMO is your option here; Topstep does not offer CFDs at all.
• Trade CME futures — Topstep is the natural pick; FTMO does not fund futures accounts.
• Want the highest split from day one — FTMO's 1-Step Challenge and Topstep's Standard path both pay 90/10 immediately.
• Want your evaluation fee back — FTMO refunds the challenge fee at your first payout; Topstep's Combine is a recurring subscription, not a refundable fee.