Meta Description: Compare TopStep, Apex Trader Funding, and FTMO in 2025 with an in‑depth table, trader‑type recommendations, and see how MYTradesBook tracks all three prop‑firm programs for optimal performance.

TopStep vs Apex Trader Funding vs FTMO in 2025: Which Prop Firm Should You Choose?

If you’ve ever dreamed of scaling your trading account without risking your own capital, you’ve probably heard the names TopStep, Apex Trader Funding, and FTMO. In 2025 these three firms dominate the prop‑trading landscape, each promising a different blend of challenge, payout, and support. This guide breaks down every crucial factor—fees, evaluation structure, profit splits, draw‑down rules, and more—so you can decide which firm aligns with your style, risk tolerance, and career goals.

Quick takeaway:
• TopStep – Best for futures‑focused day traders who thrive on a structured, data‑driven evaluation.
• Apex Trader Funding – Ideal for aggressive swing traders looking for high profit splits and flexible draw‑down limits.
• FTMO – The go‑to for forex and multi‑asset traders who want a global reputation and deep community resources.

Below you’ll find a full side‑by‑side comparison table, trader‑type recommendations, and a look at how MYTradesBook can monitor your progress across all three platforms.

Table of Contents

1. Why Prop‑Firm Funding Matters in 2025
2. The Three Contenders: Quick Overview
3. Full Comparison Table
4. Deep Dive: Evaluation Process & Costs
5. Profit Split & Payout Mechanics
6. Risk Management Rules (Draw‑down, Position Sizing)
7. Technology & Platform Compatibility
8. Community, Education & Support
9. Recommendations by Trader Type
10. How MYTradesBook Tracks All Three Firms
11. Final Verdict: Which Firm Wins for You?
12. CTA – Join MYTradesBook

Why Prop‑Firm Funding Matters in 2025

The market has changed dramatically over the past three years:

| Trend | Impact on Traders | |-------|-------------------| | Higher volatility (geopolitical tension, crypto integration) | More opportunities, but also larger draw‑down risk. | | Regulatory tightening on retail leverage (U.S. and EU) | Retail traders can’t access the 100:1 leverage they once did; prop firms fill the gap. | | AI‑driven analytics (e.g., MYTradesBook) | Traders now demand data‑backed coaching, not just “fund the account.” |

A prop‑firm acts as a bridge: you prove you can manage risk, then trade a capital pool that can be 10‑100× larger than your personal account. The right firm gives you the structure you need without stifling your edge.

The Three Contenders: Quick Overview

| Prop Firm | Primary Market | Typical Funding Size (2025) | Evaluation Cost (USD) | Average Payout Frequency | |----------|----------------|-----------------------------|------------------------|----------------------------| | TopStep | Futures (CME) | $50k – $500k | $200 – $500 per phase | Weekly | | Apex Trader Funding | Forex, CFDs, Crypto | $25k – $250k | $150 – $400 per phase | Bi‑weekly | | FTMO | Forex, Indices, Commodities | $50k – $400k | $300 – $600 per phase | Weekly |

All three have “challenge → verification → funded” pipelines, but the rules, fees, and profit splits differ enough to make a material impact on your bottom line.

Full Comparison Table

| Feature | TopStep | Apex Trader Funding | FTMO | |---|---|---|---| | Founded | 2012 | 2020 | 2015 | | Headquarters | Chicago, USA | Tallinn, Estonia | Prague, Czech Republic | | Core Market | Futures (E‑mini, Micro‑E‑mini, Crude Oil) | Forex (major/minor pairs), CFDs, Crypto | Forex (major/minor), Indices, Commodities | | Evaluation Phases | 2 (Step 1 & Step 2) | 2 (Challenge & Verification) | 2 (Challenge & Verification) | | Phase Cost | $200 – $500 (depends on target profit) | $150 – $400 | $300 – $600 | | Target Profit | 5% – 10% of account size per phase | 10% – 12% per phase | 10% – 15% per phase | | Maximum Draw‑down (Phase) | 4% (absolute) | 10% (relative) | 10% (relative) | | Maximum Daily Draw‑down | 2% | 5% | 5% | | Profit Split | 80% trader / 20% firm (standard) | 80%/20% – 90%/10% (based on account size) | 80%/20% – 90%/10% (based on performance) | | Payout Frequency | Weekly (via ACH/PayPal) | Bi‑weekly (Bank Transfer) | Weekly (Bank Transfer/PayPal) | | Platform Compatibility | NinjaTrader, Tradovate, MultiCharts | MT4/MT5, cTrader, TradingView (via broker) | MT4/MT5, cTrader, TradingView | | Data Feed | Free CME data (via platform) | Broker‑provided (no commissions on funded accounts) | Direct market data (no slippage) | | Community & Education | Weekly webinars, TopStep Academy (paid) | Private Discord, weekly live Q&A | FTMO Academy, monthly masterclass | | AI‑Driven Coaching | None (but offers “Performance Review”) | None | None | | International Support | English, limited Spanish | English, Russian, Turkish | English, Spanish, German, Russian | | Refund Policy | No refund after phase start | 100% refund if challenge not started | 100% refund if challenge cancelled within 24 hrs | | Average Time to Fund | 2‑4 weeks | 1‑3 weeks | 2‑5 weeks | | Best For | Futures day traders, data‑driven players | Aggressive swing/crypto traders, high‑risk tolerance | Multi‑asset forex traders, global community seekers |

Deep Dive: Evaluation Process & Costs

1. TopStep – “Step Program”

1. Step 1 (Evaluation)

   • Target: 5% profit on a $50k account → $2,500.
   • Cost: $200 (standard).
   • Rules: Absolute draw‑down $2,000 (4%); daily limit $1,000 (2%).
   • Example: A trader who starts with $0 and makes $3,000 in 20 days passes the challenge (profit > target, draw‑down within limits).

2. Step 2 (Verification)

   • Target: Additional 5% profit (another $2,500).
   • Cost: $300 (if you want to upgrade to a higher funding tier).
   • Outcome: Successful traders receive a TopStep Funded Account ranging from $50k to $500k.

3. Funding & Payout

   • Profit split: 80% to trader, 20% to TopStep.
   • Payout: Weekly, with a minimum withdrawal of $500.

2. Apex Trader Funding – “Challenge & Verification”

1. Challenge

   • Target: 10% profit on the chosen account size (e.g., $25k → $2,500).
   • Cost: $150 for the “Starter” plan, $300 for “Pro”.
   • Draw‑down: 10% relative (max $2,500 loss). No daily stop‑loss, but a 5% daily cap is enforced automatically.

2. Verification

   • Same profit target, but with a relaxed draw‑down of 8% relative.
   • If you pass, you can scale up to a $100k or $250k funded account automatically.

3. Profit Split

   • 80%/20% for accounts ≤ $50k.
   • 85%/15% for $100k accounts.
   • 90%/10% for $250k accounts (if you meet a 12% profit target in verification).

4. Payout

   • Bi‑weekly via bank transfer; minimum $250.

3. FTMO – “Challenge & Verification”

1. Challenge

   • Target: 10% profit for $50k (or 12% for $100k).
   • Cost: $300 (Standard) or $600 (Aggressive).
   • Draw‑down: 10% relative (max $5,000 on a $50k account).
   • Daily Limit: 5% relative (max $2,500 daily loss).

2. Verification

   • Same profit target, but draw‑down reduced to 5% relative.
   • Passing both phases unlocks FTMO Funded Account up to $400k.

3. Profit Split

   • 80%/20% for standard accounts.
   • 90%/10% for “Accelerated” accounts (requires 15% profit in challenge).

4. Payout

   • Weekly, minimum $500, via bank transfer or PayPal.

Cost Comparison Snapshot

• If you aim for a $100k funded account: TopStep’s total cost ≈ $700, Apex ≈ $600, FTMO ≈ $900.
• But Apex gives you a 90% split on $250k – a potential $22,500 monthly profit on a $250k account (assuming 10% monthly returns) versus $18,000 for TopStep’s 80% split.

Profit Split & Payout Mechanics

Understanding the real dollars you keep is crucial. Let’s run a quick scenario:

| Firm | Funded Capital | Monthly Return (10%) | Gross Profit | Trader’s Share (80%/85%/90%) | Net Monthly Income | |------|----------------|----------------------|--------------|----------------------------|--------------------| | TopStep | $100,000 | $10,000 | $10,000 | 80% → $8,000 | $8,000 | | Apex (Pro, 85% split) | $100,000 | $10,000 | $10,000 | 85% → $8,500 | $8,500 | | Apex (Elite, 90% split) | $250,000 | $25,000 | $25,000 | 90% → $22,500 | $22,500 | | FTMO (Standard) | $100,000 | $10,000 | $10,000 | 80% → $8,000 | $8,000 | | FTMO (Accelerated) | $200,000 | $20,000 | $20,000 | 90% → $18,000 | $18,000 |

Note: These numbers ignore taxes, platform fees, and the occasional “loss month.” The split is the single biggest lever for high‑capital traders.

Risk Management Rules (Draw‑down, Position Sizing)

| Rule Type | TopStep | Apex | FTMO | |-----------|---------|------|------| | Maximum Absolute Draw‑down (Phase) | $2,000 on $50k (4%) | 10% relative (e.g., $5,000 on $50k) | 10% relative | | Maximum Daily Draw‑down | 2% absolute | 5% relative | 5% relative | | Position Size Limit | 1% of account per trade (max) | 2% per trade (flexible) | 2% per trade (default) | | Leverage Allowed | Futures contracts inherently limited (1:20) | Up to 1:100 on forex (broker dependent) | Up to 1:100 on forex; 1:30 on commodities | | Risk‑of‑Ruine Controls | Automated stop‑loss enforcement in NinjaTrader | Manual checks; Apex monitors via API | Automatic kill‑switch if daily limit breached |

Takeaway: If you consistently risk 2% per trade, TopStep’s tighter absolute draw‑down may feel restrictive, whereas Apex’s larger relative buffer can accommodate a few “bad weeks” without resetting the evaluation.

Technology & Platform Compatibility

| Platform | TopStep | Apex Trader Funding | FTMO | |----------|---------|---------------------|------| | NinjaTrader | ✅ (official integration) | ❌ (requires broker) | ❌ | | MetaTrader 4/5 | ❌ (futures focus) | ✅ (via supported broker) | ✅ | | cTrader | ❌ | ✅ | ✅ | | TradingView | ✅ (via webhook for order execution) | ✅ (via broker) | ✅ | | Direct Market Access (DMA) | No (uses broker’s feed) | Yes – Apex partners with low‑latency brokers | Yes – FTMO offers its own data feed | | Mobile App | No dedicated app (use platform’s mobile) | No dedicated app (use broker’s mobile) | No dedicated app (use broker’s mobile) |

If you’re a futures day trader who lives on NinjaTrader, TopStep is the natural fit. If you prefer MT5 with a broker that offers zero‑commission forex, Apex or FTMO will feel more at home.

Community, Education & Support

| Feature | TopStep | Apex | FTMO | |---------|---------|------|------| | Live Webinars | Weekly, $49 per session (optional) | Free Discord AMA every Friday | Monthly masterclass (free for funded traders) | | Mentorship | “Performance Review” – 1‑on‑1 with a Senior Analyst ($199/mo) | No formal mentorship, but community‑driven tips | “FTMO Academy” – video courses (free) | | Customer Support | 24/7 chat, email, phone (US) | Email & Discord (business hours) | Email, Live Chat (EU/US) | | Trader Community | Private forum (TopStep Traders) | Private Discord with ~5k active members | Global Slack channel, 20k+ members | | AI Coaching | None (but TopStep offers “Data Review”) | None | None |

For traders who learn by watching others, FTMO’s massive Slack and regular masterclasses can accelerate growth. If you want personalized feedback, TopStep’s paid performance review may be worth the extra $199 per month.

Recommendations by Trader Type

1. The Day‑Trader Who Lives on Futures

• Why TopStep?

  • Futures contracts (E‑mini, Micro‑E‑mini) are the core product.
  • Tight absolute draw‑down forces disciplined risk.
  • NinjaTrader integration gives you sub‑second order execution.

• Potential Pitfall – The $2,000 absolute draw‑down can be hit quickly on volatile contracts; you must cap position size at 1% per trade.

• Alternative – If you want higher leverage on forex, Apex may suit you, but you’ll need to switch platforms.

2. The Swing‑Trader Who Trades Multiple Asset Classes

• Why FTMO?

  • Access to forex, indices, commodities, and even crypto CFDs.
  • Larger relative draw‑down (10%) provides breathing room for multi‑day positions.
  • Weekly payouts keep cash flow smooth.

• Potential Pitfall – The verification phase’s reduced draw‑down (5%) can be tricky if you hold positions over weekend gaps.

• Alternative – Apex’s 90% split on a $250k account can dramatically increase net profit if you’re comfortable with 10% daily volatility.

3. The Aggressive Crypto‑Forex Trader

• Why Apex Trader Funding?

  • Supports crypto CFDs via partnered brokers.
  • Flexible 2%‑per‑trade risk with a generous 10% relative draw‑down.
  • Highest profit split (up to 90%) for top‑tier accounts.

• Potential Pitfall – No direct platform; you must rely on a broker’s MT5/CT4, which can add latency on volatile crypto markets.

• Alternative – FTMO also offers crypto CFDs but with a lower split and stricter daily draw‑down.

4. The Data‑Driven Analyst Who Loves AI Insights

• Why Combine with MYTradesBook?

  • Regardless of firm, MYTradesBook tracks KPI (profit split, draw‑down breaches, win‑rate) in real time.
  • The AI coach flags when you’re approaching a firm’s limit, letting you adjust before a reset.

• **Best