Updated September 29, 2026 · BrokerCue Editorial Team
FXTM vs Topstep
FXTM vs Topstep: the differences
| Compare | FXTM ReviewSee alternativesSee alternatives |  Topstep |
|---|---|---|
| Minimum deposit | $10Lower | $49 |
| Inactivity fee | $5 | $0Lower |
| Markets | Stocks, ETFs, Forex, CFDs, Futures, Crypto, Bonds, MetalsCovers more | Futures |
| Regulators | FCA, CySEC | National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC |
| Investor protection | FSCS up to GBP 85,000 | SIPC up to USD 500,000 |
| Deposit and withdrawal fees | No deposit fees; withdrawal fees vary by method | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound |
| Platforms | Desktop, Mobile App, MetaTrader 4, MetaTrader 5 | TopstepX |
| Stock trade fee | Not confirmed | $0.50 |
| Account fee | Not confirmed | $0 |
| Retail accounts that lose money | 88% | Not confirmed |
| Maximum retail leverage | 1:2000 | Not confirmed |
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Key differences
- Topstep scores higher overall: 9.5 vs 9.3.
- Regulators: only FXTM offers FCA, CySEC.
- Regulators: only Topstep offers National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC.
- Minimum deposit is lower at FXTM: $10 vs $49.
- Inactivity fee is lower at Topstep: $0 vs $5.
- Markets: only FXTM offers Stocks, ETFs, Forex.
- Platforms: only FXTM offers Desktop, Mobile App, MetaTrader 4.
- Platforms: only Topstep offers TopstepX.
- Support channels: only Topstep offers Email, Chat, Phone.
- Features: only FXTM offers Copy trading, Mobile app, Crypto.
Our verdict on each
FXTM
FXTM suits traders who want forex, CFDs, futures, crypto and shares under one account, with retail leverage of 1:2000 and dual regulation behind the money. Costs are the compromise: entry is light, but support runs on help centre only, and a dormant account is charged rather than left free.
Topstep
Topstep suits beginners who want a low-cost route into futures prop trading, pairing a challenge price of $49 with a profit split of 90% that is competitive without topping the table. The brokerage account adds an account fee of $0 and payouts Every 2 weeks, so it suits a funded account you plan to grow.
Score breakdown
| Area | FXTM | Topstep |
|---|---|---|
| Cost | 9.0Entry costs are light, with a $10 starting deposit and No deposit fees; withdrawal fees vary by method, though dormant accounts pay $5. | 9.4HigherAccount fees are $0, the inactivity fee is $0 and the challenge costs $49, against a site median of €56.56. |
| Offer | 9.3 | 9.7Higher90% paid Every 2 weeks on a 2 step evaluation, with markets limited to futures. |
| Trust | 9.5 | 9.5 |
Where they rank in our lists
| Ranking | FXTM | Topstep |
|---|---|---|
| Futures trading platforms | 14 of 83 | 12 of 83 |
Side by side, item by item
| Markets | FXTM | Topstep |
|---|---|---|
| Stocks | Yes | No |
| ETFs | Yes | No |
| Forex | Yes | No |
| CFDs | Yes | No |
| Futures | Yes | Yes |
| Crypto | Yes | No |
| Bonds | Yes | No |
| Metals | Yes | No |
Where each is licensed and available
| Country | FXTM | Topstep |
|---|---|---|
| Cyprus | Not confirmed | |
| United Kingdom | Not confirmed |
Sources behind this comparison
FXTM
- fxtm.com: 5 facts, checked September 26, 2026
- brokersway.com: 4 facts, checked September 26, 2026
- trade-leader.com: 2 facts, checked September 26, 2026
Topstep
- topstep.com: 8 facts, checked September 26, 2026
- topstepbrokerage.com: 5 facts, checked September 26, 2026
- nfa.futures.org: 2 facts, checked September 26, 2026
- help.topstepbrokerage.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | FXTM | Topstep |
|---|---|---|
| Features | Demo account, Copy trading, Mobile app, Crypto | Demo account, Futures |
| Pricing model | Not confirmed | Low fees |
| Audience | Not confirmed | Beginners |
| Legal entity | Not confirmed | Topstep LLC |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 2010 |
| Support channels | Help centre | Email, Chat, Phone, Help centre, CommunityCovers more |
Where each stands against the rest
| Fact | FXTM | Topstep | Median |
|---|---|---|---|
| Minimum deposit | $10at the median | $49above the median | $10 |
| Stock trade fee | Not confirmed | $0.50highest quarter | $0 |
| Account fee | Not confirmed | $0at the median | $0 |
| Inactivity fee | $5above the median | $0at the median | $0 |
| Retail accounts that lose money | 88%highest quarter | Not confirmed | 70.375% |
Median across 99 listed brokers.
Pros and cons
FXTM
Pros
- One account spans stocks, etfs and forex.
- The FCA and CySEC both appear under FCA and CySEC, with FSCS up to GBP 85,000 for UK clients.
- Trading runs on Desktop, Mobile App and MetaTrader 4, and demo account, copy trading and mobile app adds a demo account and copy trading.
Cons
- Dormant balances are charged $5, a cost active traders never meet.
- Support runs on help centre only.
- Leverage of 1:2000 magnifies losses, and 88% of retail accounts lose money.
Topstep
Pros
- Entry is priced at $49 for a 2 step evaluation, with a profit split of 90%.
- The brokerage account fee is $0 and the inactivity fee is $0, so an account left open does not slowly bleed money.
- Payouts arrive Every 2 weeks, a steadier rhythm than a single monthly cycle.
Cons
- The split of 90% leaves a share of profits with the firm, where Apex Trader Funding shares 100%.
- Markets are futures only, against 80.6% of the brands here that cover stocks.
- Topstep ranks 7 of 21 on challenge price, and Alpha Capital Group lists $27 for its own challenge.
Who each suits
FXTM
Who it suits
- Traders who want forex, CFDs, futures, crypto and shares in one place from a $10 start.
- Newcomers who want a demo account and copy trading through demo account, copy trading and mobile app.
- Clients who want regulation in the UK and Cyprus under FCA and CySEC.
Who should look elsewhere
- Anyone who wants to open with nothing: CFI has a $0 minimum.
- Traders focused on shares, ETFs and crypto rather than bonds and metals: eToro's markets are stocks, etfs and forex.
- Small accounts wanting a cheaper opening: Vantage starts at $5.
Topstep
Who it suits
- Beginners testing futures prop trading, since beginners lists beginners and demo account and futures includes a demo account.
- Traders who want low running costs on a funded account: an account fee of $0, an inactivity fee of $0 and 90% kept of profits.
- Anyone weighing entry price against share, since Funding Pips runs challenge prices of $29 to $555, a different price point to Topstep's $49.
Who should look elsewhere
- Traders who want the whole profit, since Apex Trader Funding shares 100% against the 90% kept here.
- Anyone trading stocks, ETFs or crypto, because the market list is futures.
- Budget-first buyers, since Alpha Capital Group lists $27 for its challenge.
Current offers
Topstep
Current offer
Discount code
Responsible Trading Advantage discounts: Up to $30/month
Add a Daily Loss Limit to unlock exclusive benefits, including larger payout caps and discounts on eligible accounts; listed as -$10 / -$20 / -$30 on the $50K / $100K / $150K accounts
Source, checked September 26, 2026
Discount code
Topstep Trading Combine monthly discount: -$10 to -$30
One-time activation fee paid after passing the Trading Combine; discount is shown alongside the eligible account price
Source, checked September 26, 2026
Questions about each
FXTM
What does it cost to open and keep an FXTM account?+
Opening an account starts at $10, and the deposit and withdrawal terms read No deposit fees; withdrawal fees vary by method. The fee to watch is the inactivity charge of $5, which bites once an account sits idle, so running costs stay low only while you keep trading.
Is my money protected at FXTM?+
FXTM is regulated by the FCA and CySEC, and the investor protection stated is FSCS up to GBP 85,000. That cover sits with the regulated entity holding the account, so check which one your account is opened with before treating the protection as your own.
Topstep
How much does the Topstep challenge cost?+
The evaluation fee is $49, and the same figure is listed as the minimum deposit, so that is the outlay before any trading. For context, the median challenge price across the brands here is €56.56. A failed attempt means paying the fee again to try, so treat it as a cost of repeated attempts rather than a single ticket.
What profit do I keep and how quickly are payouts made?+
Once funded, you keep 90% of the profit, and payouts go out Every 2 weeks. The split is a percentage of profit rather than a flat fee, so a thin month does not eat into it. The cadence matters as much as the percentage for cash flow, since a good month reaches your account sooner with a frequent schedule.
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