Updated September 29, 2026 · BrokerCue Editorial Team
Nexo vs Topstep
Where Nexo and Topstep differ
| Compare |  Nexo |  Topstep |
|---|---|---|
| Minimum deposit | $5,000 | $49Lower |
| Markets | Crypto, FuturesCovers more | Futures |
| Regulators | Department of Financial Protection and Innovation, National Securities Commission (CNV) of the Argentine Republic, Companies Registry, Ministry of Finance, Financial Services Authority Seychelles | National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC |
| Platforms | Web platform, Mobile app | TopstepX |
| Stock trade fee | Not confirmed | $0.50 |
| Account fee | Not confirmed | $0 |
| Inactivity fee | Not confirmed | $0 |
| Margin rate | 1.9% | Not confirmed |
| Deposit and withdrawal fees | Not confirmed | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound |
| Account types | Corporate | Not confirmed |
| Maximum retail leverage | 100x | Not confirmed |
| Interest on cash | 13% | Not confirmed |
Same on both: Investor protection (SIPC up to USD 500,000).
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Key differences
- Topstep scores higher overall: 9.5 vs 9.0.
- Regulators: only Nexo offers Department of Financial Protection and Innovation, National Securities Commission (CNV) of the Argentine Republic, Companies Registry.
- 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 Topstep: $49 vs $5,000.
- Markets: only Nexo offers Crypto.
- Platforms: only Nexo offers Web platform, Mobile app.
- Platforms: only Topstep offers TopstepX.
- Features: only Nexo offers Crypto, Mobile app.
- Features: only Topstep offers Futures.
Our verdict on each
Nexo
Nexo suits corporate account holders who want crypto plus futures trading on web and mobile platforms with margin borrowing available. You should weigh minimum funding of $5,000 and margin rate of 1.9% against demo access and limited market breadth before you commit capital.
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 | Nexo | Topstep |
|---|---|---|
| Cost | 9.0Margin borrowing priced with margin rate of 1.9% supports cost view. | 9.4HigherAccount fees are $0, the inactivity fee is $0 and the challenge costs $49, against a site median of €56.56. |
| Offer | 8.9Offer centres on markets of crypto and futures via platforms of Web platform and Mobile app. | 9.7Higher90% paid Every 2 weeks on a 2 step evaluation, with markets limited to futures. |
| Trust | 9.0Trust reflects cover of SIPC up to USD 500,000. | 9.5Higher |
Licences and countries
| Country | Nexo | Topstep |
|---|---|---|
| Argentina | Not confirmed | |
| Hong Kong | Companies Registry TC007556 | Not confirmed |
| Poland | Ministry of Finance RDWW-533 | Not confirmed |
| Seychelles | Not confirmed | |
| United States | Department of Financial Protection and Innovation 60DBO-109416 | Not confirmed |
Sources behind this comparison
Nexo
- nexo.com: 9 facts, checked September 29, 2026
- portal.dfpi.ca.gov: 2 facts, checked September 29, 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
How they place
| Ranking | Nexo | Topstep |
|---|---|---|
| Futures trading platforms | 1 of 83 | 12 of 83 |
Every fact side by side
| Fact | Nexo | Topstep |
|---|---|---|
| Features | Crypto, Demo account, Mobile app | Demo account, Futures |
| Pricing model | Low fees | Low fees |
| Audience | Not confirmed | Beginners |
| Legal entity | Not confirmed | Topstep LLC |
| Headquarters | Not confirmed | United States |
| Founded | Not confirmed | 2010 |
| Support channels | Not confirmed | Email, Chat, Phone, Help centre, Community |
Where each stands against the rest
| Fact | Nexo | Topstep | Median |
|---|---|---|---|
| Minimum deposit | $5,000highest quarter | $49above the median | $10 |
| Stock trade fee | Not confirmed | $0.50highest quarter | $0 |
| Account fee | Not confirmed | $0at the median | $0 |
| Inactivity fee | Not confirmed | $0at the median | $0 |
| Margin rate | 1.9%lowest quarter | Not confirmed | 8.79% |
| Interest on cash | 13%highest quarter | Not confirmed | 3% |
Median across 99 listed brokers.
Pros and cons
Nexo
Pros
- Crypto and futures coverage in crypto and futures suits focused digital asset traders rather than general equity investors.
- Corporate access through corporate suits entities that need business onboarding rather than personal accounts.
- Margin access with margin rate of 1.9% gives clear borrowing pricing for planned leveraged use.
Cons
- Entry funding of $5,000 is high beside $50 at eToro and $1 at Kraken, which limits casual access.
- Market breadth is narrow at crypto and futures, with crypto and futures focus and no stocks or funds breadth for diversification.
- Support runs on chat, email and help centre only, which may deter you if you prefer phone help available elsewhere.
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
Nexo
Who it suits
- Corporate desks that accept $5,000 and prefer Nexo focus over eToro retail breadth
- Crypto futures users who value Web platform and Mobile app and prefer Nexo margin clarity over Kraken entry level simplicity
- Entity clients comfortable with chat, email and help centre who prefer Nexo structure over NAGA retail positioning
Who should look elsewhere
- Traders seeking low entry balances who prefer eToro because $50 is below $5,000
- Crypto beginners wanting simple retail onboarding who prefer Kraken because $1 is below $5,000
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
Nexo
What can you trade with Nexo?+
Nexo focuses on markets of crypto and futures, which means crypto and futures activity rather than broad equities or funds. Access is through platforms of Web platform and Mobile app, giving web based management plus mobile use for monitoring. You should confirm that this limited scope matches your plan before you apply.
How much do you need to open a Nexo account?+
Nexo lists minimum deposit of $5,000 and account choice of corporate, so access is framed around corporate funding. You should prepare qualifying funds and corporate documentation before you start. This structure suits entities rather than individuals seeking small retail balances.
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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