Topstep, based in Chicago, is one of the original futures prop firms. It launched the Trading Combine in 2012 and reports more than $1 billion paid to funded traders. It trades CME Group futures only, having closed its forex program in 2022. For South African futures traders, it offers low entry prices and a clear path from evaluation to a live-capital account.
How Topstep works
Topstep has three stages. You trade the Trading Combine in a simulated account until you hit the profit target without breaking the rules. You then move to an Express Funded Account (XFA), still simulated, where you earn payouts. Strong traders can be moved to a Live Funded Account trading real capital.
Pricing
The Combine is a monthly subscription: $49 per month for the $50K, $99 for the $100K and $199 for the $150K at the time of writing. On the standard path, a $149 activation fee is charged when you pass; a no-activation-fee path costs more per month instead. Topstep also offers discounts when you add a daily loss limit at checkout.
Combine rules
The Combine comes in three sizes. The $50K has a $3,000 profit target and a $2,000 Maximum Loss Limit; the $100K needs $6,000 with a $3,000 limit; the $150K needs $9,000 with a $4,500 limit. Position limits are 5, 10 and 15 mini contracts (or 50, 100 and 150 micros). The Maximum Loss Limit trails your end-of-day balance but is enforced in real time, including open trades. Topstep’s Consistency Target means no single day can exceed 55% of your total profit; if one does, your target rises (best day ÷ 0.55). A daily loss limit is optional. New Combines must be traded on TopstepX; Quantower can connect using TopstepX credentials.
Profit split and payouts
New traders from January 12, 2026 receive a 90/10 split. Payouts on an XFA are capped at 50% of your account balance per request, up to a fixed dollar cap, with a $125 minimum. After your first payout, each further payout requires you to meet your path’s requirements again and remain profitable since the last one. Payout rails include same-day transfers to Topstep’s brokerage, Aeropay and Wise, typically within one to three business days.
Recent changes
Topstep changed pricing, payout caps and splits several times in 2026, and acquired The Futures Desk in April 2026. TopstepX outages and support backlogs in late 2025 pushed its Trustpilot rating down to around 3.4 to 3.6 out of 5.
Trading Topstep from South Africa
Can South Africans use Topstep?
Yes. Topstep’s support team announced in 2026 that South Africa is now eligible for Live Funded Accounts, so South Africans can progress through the full Combine, Express Funded and Live path. Eligibility lists change, so check Topstep’s help centre before buying.
Paying the fee in rand
At an illustrative R18 per US dollar, the $50K Combine (per month) at $49.00 costs about R882. Check today’s exchange rate and your card’s foreign transaction fee before you pay. Paying for an offshore service by card counts toward your annual offshore allowance under South African exchange control, which covers most traders’ challenge fees comfortably.
Getting paid in South Africa
Topstep lists Wise, ACH and wire among its payout methods. Wise is usually the cheapest way to receive US dollars into a South African bank account; ACH and wire payouts carry a $30 Topstep fee.
Best trading hours in SAST
US index futures are most active after the New York cash open at 15:30 or 16:30 SAST, depending on US daylight saving time, so most South African futures traders trade late afternoon into the evening.
Tax on Topstep payouts
SARS generally treats prop firm payouts as income, not capital gains, and you must declare them even though no tax is deducted. Because the income isn’t a salary, you’ll usually need to register as a provisional taxpayer and submit IRP6 returns, with payments due by the end of August and the end of February. Convert each payout to rand at the rate on the day you receive it, keep records of fees you’ve paid, and speak to a tax practitioner. This isn’t tax advice.
Regulation
Topstep isn’t authorised by the FSCA. The FSCA supervises brokers and financial services providers, while prop firms that sell evaluations on simulated accounts generally fall outside its licensing. That’s legal for South Africans to use, but it means no FSCA complaint route or ombud cover if something goes wrong, so a firm’s track record matters.
Who Topstep suits
Topstep suits futures day traders who want an established firm and a genuine route to live capital. It’s less suited to traders who want TradingView or NinjaTrader for new accounts, or who dislike ongoing subscriptions while they practise.
Topstep FAQ
Is Topstep legit?
Yes. Topstep has run its Trading Combine since 2012 and reports more than $1 billion paid to funded traders.
How much does the Topstep Combine cost?
At the time of writing: $49 per month for $50K, $99 for $100K and $199 for $150K, plus a $149 activation fee on the standard path.
What is the Topstep profit split?
New traders receive 90% of profits, subject to per-request payout caps on Express Funded Accounts.
Which platform does Topstep use?
New Trading Combines must use TopstepX. Quantower can connect with TopstepX credentials.
Can South Africans use Topstep?
Yes. Topstep’s support team announced in 2026 that South Africa is now eligible for Live Funded Accounts, so South Africans can progress through the full Combine, Express Funded and Live path. Eligibility lists change, so check Topstep’s help centre before buying.
How are Topstep payouts taxed in South Africa?
SARS generally treats prop firm payouts as income that must be declared, usually through provisional tax (IRP6). Speak to a tax practitioner about your situation.