Topstep vs Apex: What Traders Need to Know

Choosing a prop firm should feel like choosing a partner in your trading journey. The rules you trade under either help you grow into a stronger trader or quietly work against you.

When choosing a prop firm, it’s important to understand the main differences before jumping in.

What We’ll Cover

This guide walks through the four biggest differences between Topstep and Apex, why they matter, and how they impact your day-to-day trading.

• Intraday Trailing Drawdown vs End-of-Day Drawdown
• Payout Consistency Requirements
• Days Required to Earn a Payout
• Payout Buffers and Withdrawal Restrictions

INTRADAY TRAILING DRAWDOWN VS END-OF-DAY DRAWDOWN

Imagine you finally catch the setup you have been waiting for. The market moves in your favor. You are green. You are doing everything right. Then the market pulls back like it always does. Not a reversal. Not a mistake. Just a normal pullback (a quick dip) before the next move.

At Apex, this is where accounts die. Not because you didn’t follow your plan. Not because the trade was wrong. Not because you mismanaged risk. You lose the entire account because of their intraday trailing drawdown rule.

Here’s what makes it so dangerous:

• As your unrealized P&L rises, your Maximum Loss Limit is pulled up behind it.
• But when the market pulls back, the trailing limit does not move back down. It only moves in one direction.
• Which means every uptick permanently tightens the space between your position and your liquidation point.
• A completely normal pullback can hit your trailing limit and close your account even when your idea is still valid.

This rule doesn’t teach discipline. It doesn’t develop skills. It punishes normal price action and forces traders out of winning trades every single day.

At Topstep, your Maximum Loss Limit does not trail intraday. It does not tighten behind every tick. It is calculated at the end of the trading day, not during it.

That means:

• You can let trades play out.
• You can survive the pullbacks that markets naturally make. 
• You can trade your plan without panicking every time a trade moves against you. 

If your trade is valid and your discipline is real, you shouldn’t lose an account because of a normal intraday pullback.

That’s why serious traders choose a program built for real conditions, not one built around trapping traders. This focus on clear, fair, and flexible rules is also why Topstep was awarded Best Rules among futures firms in the 2025 Prop Firm Match Awards.

PAYOUT GUIDELINES

Ok, you passed your evaluation. You’re funded. Now it’s time to work towards that first payout, right?

Well, at Apex, you must complete a minimum of 8 winning trading days before you’re allowed to request your first payout.

For a new trader, that may sound simple, but here’s what it actually means:

• You need to have 8 separate days where you close the day with profits.
• Losing days don’t count. Break-even days don’t count.
• And because things don’t always go as planned, hitting 8 solid winning days often takes longer than you expect.

This can push your first payout out several weeks, even if you’re trading well.

At Topstep, your payout path is much faster and more realistic.

You only need 5 winning days of $150 or more to request your first payout.

Here’s why that difference matters:

• It takes nearly half the time to qualify for a payout at Topstep.
• You can turn good trading into real money sooner.
• Your payout timeline reflects real trading conditions, not an arbitrary hurdle.

Topstep rewards progress, not perfection.

payout consistency requirements

Apex has a 30% consistency rule for funded accounts. This means your biggest winning day cannot be more than 30% of your total profit. If it is, you cannot take a payout until your other days are large enough to “average it out.”

Here is what that looks like in real life. Let’s say you had three winning days:

• • Day 1: $200
  • Day 2: $150
  • Day 3: $1,000

• Total profit: $1,350

In the real world, your $1,000 day would be something to celebrate. At Apex this means you would need to make an additional $1,983 before you are even eligible to request a payout. This is on top of completing the required 8 winning days and other payout rules.

Here is why.

• Your biggest day: $1,000
• For $1,000 to equal 30% of your total profit, your total must reach $3,333
• Your current total: $1,350
• Amount still needed: $3,333 minus $1,350 = $1,983

The market does not hand out perfectly even wins. Traders catch big moves one day and grind the next. Apex’s rule punishes those natural big wins and keeps traders from withdrawing profits they already earned.

Topstep does not use a consistency rule in its funded accounts. When you’re profitable and hit five winning days of $150 or more, you can request a payout.

PAYOUT BUFFERS AND RESTRICTIONS

At Apex, your first three payouts require you to build a buffer equal to your entire drawdown plus one hundred dollars. No buffer means no payout. Many traders do not realize this until they are already in the program.

At Topstep, there is no payout buffer required for Express Funded Accounts. If you hit your five winning days, you can request a payout. Simple.

The only requirement beyond that is one used by real traders everywhere. You must be profitable since your last payout to take your next one. That is how responsible trading works in every real trading environment. It protects good habits, not the firm’s bottom line.

FINAL WORD

When traders talk about why Apex can offer huge coupon codes, this is the reason. The rules are stacked against you and seem like they are designed to blow accounts. The intraday trailing drawdown crushes traders. Funded consistency rules restrict payouts. Buffer requirements delay withdrawals. Every piece adds distance between you and your trading goals. 

Topstep puts its energy into trader development. Real rules. Real risk. Real payouts. Everything is built around helping you become a trader who can succeed in live markets.

QUICK COMPARISON CHART

Before choosing a prop firm, ask yourself one question.

Are the rules designed to help me grow or designed to take my account?

Topstep gives traders the program to learn to trade like a professional. Apex gives traders a discount code and hopes they will not notice what comes after.

Topstep is where traders come to build skill, confidence, and a real path to live trading.