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

These three firms dominate the prop trading industry. But they're very different products designed for different traders. Let's break it down.

Quick Comparison

| Feature | FTMO | TopStep | Apex |

|---------|------|---------|------|

| Instruments | Forex, indices, commodities, crypto | Futures | Futures |

| Profit Split | Up to 90% | Up to 100% | Up to 100% |

| Drawdown Type | Static (daily + total) | Trailing (EOD) | Trailing |

| Challenge | 2-phase | Trading Combine | 1-phase |

| Min Trading Days | 4 per phase | — | 7 |

| Payout Frequency | Bi-weekly | — | Bi-weekly |

FTMO: The Gold Standard

FTMO has been around since 2015 and is widely considered the most established prop firm. They offer:

• Two-phase challenge: FTMO Challenge → Verification
• 10% daily drawdown / 10% total drawdown (static, from starting balance)
• Profit target: 10% in Phase 1, 5% in Phase 2
• Up to 90% profit split (increases with scale-up)
• Free retry if you profit but don't meet the target

Best for: Forex traders with proven, consistent strategies who want the most reputable firm.

Drawback: Two-phase evaluation takes longer. Slightly lower profit split than competitors.

TopStep: The Futures Pioneer

TopStep pioneered the prop firm concept for futures traders. Their Trading Combine is well-known:

• Single-phase evaluation (Trading Combine)
• Trailing drawdown calculated at end-of-day
• Up to 100% profit split on first $10K, then 90%
• Express funded option available
• No minimum trading days

Best for: Futures traders who want a simple, well-known firm with generous splits.

Drawback: Trailing drawdown can be restrictive for swing traders.

Apex Trader Funding: Best Value

Apex has grown rapidly by offering aggressive pricing and simple rules:

• One-phase evaluation
• Trailing drawdown (real-time)
• 100% profit split on first $25K per account
• Frequent 80-90% discount sales
• Multiple account sizes from $25K to $300K

Best for: Futures traders who want maximum value and are comfortable with trailing drawdown.

Drawback: Trailing drawdown requires careful position management.

How to Decide

Ask yourself these questions:

1. What do you trade? Forex → FTMO. Futures → TopStep or Apex.
2. What's your budget? Tight budget → Apex (wait for a sale). Money isn't the issue → FTMO.
3. Are you a swing trader? Static drawdown is better → FTMO or The5ers.
4. Do you want the fastest evaluation? One-phase → Apex.

Track All Three with PropTally

Many serious prop traders run accounts with 2-3 firms simultaneously. That's where a tracker becomes essential.

PropTally lets you import trades from ALL of these firms, track payout eligibility per firm, and analyze your combined performance. Compare all three on our comparison page.

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