LIVE funded account TRADING rules

Trader may not hit or exceed the Daily Loss Limit (as described here) while trading. The Daily Loss Limit is calculated intraday on both realized and unrealized net P&L, including commissions and fees. Hitting or exceeding the Daily Loss Limit will suspend Trader’s ability to trade for the remainder of the then current trading session, which resets for the next trading session (as set forth here).

Trader may not hit or exceed the Maximum Loss Limit (as described here). Currently, your Maximum Loss Limit is $0. For the remainder of your Live Funded Account, you will need to make sure your account balance stays above $0 (positive).

Products may be traded during normal electronic trading hours unless otherwise indicated. Abbreviated holiday hours can be found on Topstep’s website. All positions MUST be closed prior to 3:10 PM CT or prior to the market close of that product, whichever is sooner.

The Daily Loss Limit is a protective threshold designed to help you manage risk. If your Net P&L reaches or exceeds this limit during the trading day (defined as 5:00 PM CT to 3:10 PM CT), your account will enter a soft breach.

Here’s what that means:

• Your open positions will be closed (flattened).
• Any pending orders will be canceled.
• You’ll be locked out from placing new trades until the next trading day begins (5:00 PM CT).

This lockout is not a rule violation. It’s a pause meant to protect your account and give you time to regroup.

To help you stay within your limits, we’ll also automatically flatten all positions about ten seconds before the trading session ends (3:10 PM CT), as determined by Topstep.

Holiday hours can impact your trading schedule and data fees. Here’s what you need to know:

• Holiday Flattening Requirements: You must close all trades during the holiday hours outlined in our Holiday Schedule. These requirements may differ from standard trading days.
• Data Fees and Holidays:  Data fees are not prorated for months with holiday trading restrictions. If you plan not to trade for the entire month, including holiday hours, and want to avoid being charged a data fee, you must email our team before the 26th of the previous month to request removal.
• Important: We do our best to notify you of holiday trading changes, but if you’ve unsubscribed from Topstep emails, you won’t receive alerts.  To stay in the loop, please resubscribe to emails here.

Payout Eligibility and Limitations

A “Benchmark Trading Day” is a market day where you actively trade and earn at least $150 in Trading Profits (adjusted for holidays). You will not receive credit toward Live Funded Account Benchmark Trading Days for any Benchmark Trading Days earned in an Express Funded Account.

To be eligible for a payout:

• You must have at least 5 Benchmark Trading Days since either your Live Funded Account Effective Date or your last payout, whichever is later.
• Your initial and following payouts are limited to 50% of your share of Trading Profits until you reach 30 Benchmark Trading Days in your Live Funded Account.
• Once you have 30 Benchmark Trading Days in your Live Funded Account, you may:
  • Request 100% of your share of Trading Profits.
  • Request one payout per business day, provided other rules are followed.

Topstep will monitor your account to ensure total payouts do not exceed 90% of the Starting Balance plus net Trading Profits. If needed, deductions may be made to stay within that limit.

• You keep 100% of Trading Profits on payouts up to $10,000 (lifetime total, per trader).
• After that, all payouts are split 90% to you, 10% to Topstep.
• Unwithdrawn profits remain at risk of loss.

Topstep reviews every account and payout to ensure total payouts never exceed 90% of your Starting Balance plus all net Trading Profits. We may withhold or adjust payout amounts to comply with this limit.

• If eligible, you may request a payout through the Client Portal.
• Payouts are sent via Wise, ACH, or wire transfer.
• Fees may apply, especially for rejected payouts due to incorrect banking info.
• For full details, refer to the Payout Information Form.

You are responsible for paying monthly data fees, including those charged by the CME Group.

These fees:

• Are billed around the 26th of each month to cover the upcoming month.
• Are not prorated based on when you begin trading.
• Must be paid in full. Failure to do so will result in the immediate suspension of your Live Funded Account.
• Vary depending on your selected trading platform and brokerage.

⚠️ Note: Data feeds from outside providers are not supported in Live Funded Accounts.

 See supported exchanges and fees.

Your Live Funded Account is subject to commissions and fees charged per round-turn trade.

These:

• Reflect actual rates from Topstep’s brokerage partners and exchange costs.
• May change at any time and are effective immediately upon update.
• Are deducted from your Account Balance and impact your P&L calculations.

💡 NFA and exchange fees post to your account around 2:00 AM CT the next day. If those updates cause a rule violation (e.g., drop your balance below your limit), your Live Funded Account will be closed.

Topstep currently covers live market data fees for the CME exchange only. This does not include CBOT, COMEX, or NYMEX data. Traders are responsible for any additional exchange fees.

See platform-specific commission details here.

By using a Live Funded Account, you acknowledge and agree to the following:

• Protective Stops Required: You must place a protective stop order on every open position.
• Account Inactivity: If no trades are placed within a 90-day period, your Live Funded Account will be considered abandoned and permanently closed. Any remaining funds will be allocated according to your Agreement.
• Availability: You must be reachable at the phone number you provided to Topstep at all times while actively trading.
• Account Control: Topstep reserves the right to liquidate any open positions and suspend or close your Live Funded Account, temporarily or permanently, with or without notice.
• Eligibility Requirements: You are not eligible for a Live Funded Account if:
  • You have been convicted of any felony or a misdemeanor involving dishonesty, fraud, or financial misconduct;
  • You have been disciplined by the NFA or CFTC;
  • You have outstanding debts with a clearing firm.
  • You have used a fraudulent credit card or initiated a chargeback with your card issuer.
• If you’re found to be ineligible, no refunds will be issued for Trading Combine® fees.
• Responsible Trading: You are expected to follow Topstep’s Responsible Trading Guidelines, which outline the standards and conduct expected of all Live traders found here.

The Path to Reduction is a tiered system that helps manage risk in a Live Funded Account (LFA) during a drawdown. When your account experiences significant losses from your starting balance, our Risk Team will monitor your performance and eventually reach out for a Shoulder Tap.

What is a Shoulder Tap?

The term comes from the trading pits, where risk managers would literally tap a trader on the shoulder during a drawdown to review what was happening and help them refocus. 

At Topstep, a shoulder tap means one of our Risk Managers may reach out when your Live Funded Account experiences a significant drawdown. They’ll look at your recent trading behavior, talk through what’s happening, and, if needed, adjust your contract size or Daily Loss Limit to help you focus and get back on track.

Payouts do not count as drawdown and do not impact your risk tier. Drawdown is based solely on losses from your LFA starting balance.

Important:

Reckless or undisciplined trading in a Live Funded Account may result in the forfeiture of Live capital.