Updated September 29, 2026 · BrokerCue Editorial Team
Robinhood vs Topstep
Robinhood vs Topstep: the differences
| Compare |  Robinhood |  Topstep |
|---|---|---|
| Minimum deposit | $0Lower | $49 |
| Stock trade fee | $0Lower | $0.50 |
| Markets | Stocks, ETFs, Options, Futures, CryptoCovers more | Futures |
| Regulators | Bank of Lithuania (LSC), LT BL, SIPC | 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 | EU ICS up to EUR 20,000 | SIPC up to USD 500,000 |
| Deposit and withdrawal fees | $100 outgoing transfer | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound |
| Platforms | Robinhood app, Robinhood Legend | TopstepX |
| Margin rate | 3.95% | Not confirmed |
| Options contract fee | $0 | Not confirmed |
| Account types | IRA, Roth IRA, Joint | Not confirmed |
| Maximum retail leverage | 10X | Not confirmed |
Same on both: Account fee ($0), Inactivity fee ($0).
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Key differences
- Topstep scores higher overall: 9.5 vs 9.4.
- Regulators: only Robinhood offers Bank of Lithuania (LSC), LT BL, SIPC.
- 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.
- Founded is lower at Topstep: 2010 vs 2013.
- Minimum deposit is lower at Robinhood: $0 vs $49.
- Stock trade fee is lower at Robinhood: $0 vs $0.50.
- Markets: only Robinhood offers Stocks, ETFs, Options.
- Platforms: only Robinhood offers Robinhood app, Robinhood Legend.
- Platforms: only Topstep offers TopstepX.
- Features: only Robinhood offers Crypto, Fractional shares, Options.
Our verdict on each
Robinhood
Robinhood suits first-time investors and small, regular investors who want nothing charged for holding or trading. It is the cheapest way in on our data, with a minimum deposit of $0, no account fee and no inactivity charge, under the Bank of Lithuania and SIPC.
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 | Robinhood | Topstep |
|---|---|---|
| Cost | 9.6HigherStock trades cost $0, options contracts $0, the account fee is $0 and inactivity is $0. | 9.4Account 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 | 9.3 | 9.5Higher |
What it costs in practice
A year: 5,000 invested, 4 US stock trades a month
Robinhood
$0
48 × $0 + 1 × $0
Topstep
$24
48 × $0.50 + 1 × $0
Robinhood costs $24 less.
Worked out from the stated prices and rates; your own total depends on how you use it. Facts checked September 26, 2026.
Choosing between them
Pick Robinhood if minimum deposit, stock trade fee, and markets matter most.
Pick Topstep if offer matter most.
How they place
| Ranking | Robinhood | Topstep |
|---|---|---|
| Futures trading platforms | 3 of 83 | 12 of 83 |
| Brokers for beginners | 6 of 88 | 17 of 88 |
Every fact side by side
| Fact | Robinhood | Topstep |
|---|---|---|
| Features | Crypto, Fractional shares, Options, Futures, Mobile app | Demo account, Futures |
| Pricing model | Commission free, Low feesCovers more | Low fees |
| Audience | Beginners, Day tradersCovers more | Beginners |
| Legal entity | Robinhood Europe UAB | Topstep LLC |
| Headquarters | Lithuania | United States |
| Founded | 2013 | 2010Lower |
| Support channels | Not confirmed | Email, Chat, Phone, Help centre, Community |
Where each stands against the rest
| Fact | Robinhood | Topstep | Median |
|---|---|---|---|
| Minimum deposit | $0below the median | $49above the median | $10 |
| Stock trade fee | $0at the median | $0.50highest quarter | $0 |
| Account fee | $0at the median | $0at the median | $0 |
| Inactivity fee | $0at the median | $0at the median | $0 |
| Margin rate | 3.95%lowest quarter | Not confirmed | 8.79% |
| Options contract fee | $0lowest quarter | Not confirmed | $0.59 |
Median across 99 listed brokers.
Pros and cons
Robinhood
Pros
- Nothing to pay to open or hold an account, with an account fee of $0 and an inactivity fee of $0
- Trading a share costs $0, so a small first order is not eaten by commission
- You can start with a deposit of $0, lower than most brands on our data
Cons
- Leverage is available at 10X, which magnifies losses as well as gains
- Outgoing transfers carry a charge of $100 outgoing transfer
- Margin borrowing is priced at a margin rate of 3.95%, so interest adds to your cost
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
Robinhood
Who it suits
- Beginners opening a first account with a small deposit
- Day-traders working in options, futures and crypto on mobile
- Retirement investors using an IRA, Roth IRA or joint account
Who should look elsewhere
- Vantage if a flat minimum deposit of $5 suits you better
- CFI if you want forex and CFDs alongside shares, since its markets cover stocks, etfs and forex
- eToro if social copy trading matters more than options and futures
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
Robinhood
What does it cost to trade shares on Robinhood?+
Trading a share costs $0, and an options contract costs $0. There is also an account fee of $0 and an inactivity fee of $0, so nothing is taken for simply holding the account open. Borrowing on margin is charged at a margin rate of 3.95%, which is the main running cost if you use leverage.
Is there a minimum deposit to open a Robinhood account?+
The minimum deposit is $0, so you can open an account and place a small first order without funding a large balance. It is worth comparing that with the deposits other brands ask for before you commit, since the figure varies widely across the market. Outgoing transfers are charged at $100 outgoing transfer, so factor that in if you plan to move money out early.
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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