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Prop Firm Education

Prop Firm Education

What is a futures prop firm? Beginner's guide to getting funded

A futures prop firm funds traders with its own capital in exchange for a share of profits. Here's how evaluations, funding, and payouts actually work.

Team Topstep

March 23, 2026

Prop Firm Education

Busting the biggest myths about prop trading firms

Discover the truth about prop trading firms. Learn common myths, what to look for, and how Topstep helps traders grow with real capital and clear rules.

Team Topstep

March 23, 2026

Prop Firm Education

Topstep vs. other prop firms

Comparing Topstep to other prop firms? See why real traders choose Topstep for clear rules, fast payouts, and coaching that builds long-term success.

Team Topstep

March 23, 2026

Prop Firm Education

What’s the cheapest prop firm?

Searching for the cheapest prop firm? Topstep delivers more than low fees with clear rules, real payouts, coaching, and tools built to help traders succeed.

Team Topstep

March 23, 2026

Prop Firm Education

Do day trading simulators work?

Learn how a trading simulator helps you practice strategies, build discipline, and prepare for live markets. Compare paper trading with prop firm simulators.

Team Topstep

March 23, 2026

Prop Firm Education

What separates a great prop firm from a good one?

Looking for a great prop firm? Learn how Topstep stands out with real funding, fast payouts, trader support, and tools built for long-term success.

Team Topstep

March 23, 2026

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Topstep and Affiliated Entities
Topstep disclaimer. Topstep LLC and its affiliates (collectively, “Topstep”) provide information on this website for general informational purposes only. Testimonials appearing on Topstep’s websites may not be representative of other clients or customers and are not a guarantee of future performance or success. Use of the information on Topstep’s websites is at your own risk and Topstep and its partners, representatives, agents, employees, and contractors assume no responsibility or liability for any use or misuse of such information. Topstep does not provide tax, legal, investment, or accounting advice. You should consult your own advisors before engaging in any transaction.

The following entities are affiliated but separate entities and wholly owned subsidiaries of Topstep LLC.
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‍Introducing brokerage services are offered through Topstep Brokerage LLC (“Topstep Brokerage”), a registered introducing broker and a member of the National Futures Association. More information about the firm may be found here under NFA ID# 0567079. Please review Topstep Brokerage’s Risk Disclosures Statement. Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).

Simulated trading program services, comprising the Trading Combine, and the Express Funded Account, and Topstep Labs experiments are operated by TopstepTrader, LLC (“TopstepTrader”). Please review the Risk Disclosures.

Live funded proprietary trading firm services are operated by TopstepFunded LLC (“TopstepFunded”). TopstepFunded offers live funded proprietary trading firm for individuals demonstrating proficiency in TopstepTrader’s simulated trading evaluation program. Please review the Risk Disclosures.

The TopstepX trading platform is a trading platform designed to help retail traders develop sound habits, discipline, and risk management. It is developed and owned by ProjectX Trading LLC (“TopstepX”). Additional information and terms of use can be found here and here.

TopstepTV is a digital media network offering real-time trading insights and education owned and operated by TopstepTV LLC (“TopstepTV”). Please review the TopstepTV Risk Disclosures.

The Futures Desk is an online proprietary trading firm that evaluates and funds retail futures traders owned by TS TFD Buyer, LLC (“The Futures Desk”). Additional information and terms and conditions can be found here and here.

General Risk Disclosures
Commodity trading involves substantial risk of loss. All investments involve risk, and not all risks are suitable for every investor. The value of investments may fluctuate and as a result, clients may lose more than their original investment. The past performance of a financial product does not guarantee future results or returns. Please carefully consider whether it is appropriate for you to engage in futures trading in light of your personal financial circumstances. You should only use funds that you can afford to lose without affecting your financial security or lifestyle, and only a portion of those funds should be used to support a single trade because you cannot expect to profit on every trade. To learn more about the risks of trading, please visit our Risk Disclosure.

System Risk. Trading through an electronic trading or order routing system exposes you to risks associated with system or component failure. System response and account access times may vary due to a variety of factors, including trading volumes, market conditions, system performance, and other factors.

Trading Combine and Topstep Labs Experiments. The Trading Combine, Express Funded Accounts and Topstep Labs experiments are realistic simulations of trading under actual market conditions and are difficult to pass even for experienced traders. Simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, because the trades have not actually been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs, in general, are also subject to the fact that they are designed with the benefit of hindsight. Simulated trading does not involve financial risk, and no simulated trading record can completely account for the impact of financial risk in actual trading. For example, the ability to withstand losses or adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

2025 Trader Performance Statistics. From January through December 2025, (a) 16.8% of all Trading Combines initiated were successfully completed and afforded the opportunity to advance to the Funded Level, (b) 51.8% of individual participants who entered one or more Trading Combines advanced to the Funded Level in at least one of their Trading Combines, (c) 33.3% of all individual participants at the Funded Level received a payout, and (d) 0.71% of individual participants trading in an Express Funded Account were called up to a Live Funded Account. The Funded Level includes both Express Funded Accounts and Live Funded Accounts, with the aggregate of such accounts used in the percentage determination. These statistics reflect performance in both a simulated trading environment and a live trading environment and are not indicative of future results.

NO INVESTMENT ADVICE. NOTHING CONTAINED IN THIS WEBSITE CONSTITUTES INVESTMENT ADVICE, NOR DOES IT CONSTITUTE THE SOLICITATION, ENDORSEMENT, OR RECOMMENDATION OF THE PURCHASE OR SALE OF ANY FUTURES OR OTHER FINANCIAL PRODUCT. THE WEBSITE CONTENT IS FOR GENERAL INFORMATION ONLY AND SHOULD NOT BE REGARDED AS CONSTITUTING AN OFFER, SOLICITATION, ENDORSEMENT, OR RECOMMENDATION TO BUY OR SELL ANY FUTURES OR OTHER FINANCIAL PRODUCT AND SHOULD NOT BE REGARDED AS INVESTMENT ADVICE.