Updated September 28, 2026 · BrokerCue Editorial Team
Topstep vs Webull
Topstep vs Webull: the differences
| Compare |  Topstep |  Webull |
|---|---|---|
| Stock trade fee | $0.50 | $0Lower |
| Markets | Futures | Stocks, ETFs, Options, Futures, Crypto, Bonds, FundsCovers more |
| Regulators | National Futures Association (NFA) registered introducing broker, Topstep Brokerage LLC, Commodity Futures Trading Commission (CFTC) registered FCM / NFA member, Plus500US Financial Services LLC | FINRA, SEC, SIPC |
| Deposit and withdrawal fees | 1% processing fee on debit card deposits and withdrawals; wire fee $10 outbound, $0 inbound | $0 incoming stock transfer |
| Platforms | TopstepX | Desktop, Mobile, Web |
| Minimum deposit | $49 | Not confirmed |
| Account fee | $0 | Not confirmed |
| Inactivity fee | $0 | Not confirmed |
| Options contract fee | Not confirmed | $0 |
| Account types | Not confirmed | IRA |
Same on both: Investor protection (SIPC up to USD 500,000).
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Key differences
- Webull scores higher overall: 9.6 vs 9.5.
- 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.
- Regulators: only Webull offers FINRA, SEC, SIPC.
- Stock trade fee is lower at Webull: $0 vs $0.50.
- Markets: only Webull offers Stocks, ETFs, Options.
- Platforms: only Topstep offers TopstepX.
- Platforms: only Webull offers Desktop, Mobile, Web.
- Support channels: only Topstep offers Chat, Community.
- Features: only Webull offers Crypto, Fractional shares, Options.
- Pricing model: only Topstep offers Low fees.
Our verdict on each
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.
Webull
Webull suits US retail investors who want a single app for stocks, options, futures, crypto and retirement saving, and the fee line is the draw: a stock trade costs $0. Investor protection is SIPC up to USD 500,000, though the account range is narrow.
Score breakdown
| Area | Topstep | Webull |
|---|---|---|
| Cost | 9.4Account fees are $0, the inactivity fee is $0 and the challenge costs $49, against a site median of €56.56. | 9.7Higher |
| Offer | 9.7Higher90% paid Every 2 weeks on a 2 step evaluation, with markets limited to futures. | 9.3 |
| Trust | 9.5 | 9.8Higher |
Pick Topstep if, pick Webull if
Pick Topstep if offer matter most.
Pick Webull if cost, trust, stock trade fee, and markets matter most.
Where these facts come from
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
Webull
- webull.com: 9 facts, checked September 26, 2026
- brokercheck.finra.org: 2 facts, checked September 26, 2026
- sipc.org: 1 fact, checked September 26, 2026
How they place
| Ranking | Topstep | Webull |
|---|---|---|
| Futures trading platforms | 12 of 83 | 9 of 83 |
Every fact side by side
| Fact | Topstep | Webull |
|---|---|---|
| Features | Demo account, Futures | Crypto, Demo account, Fractional shares, Options, Futures, Mobile appCovers more |
| Pricing model | Low fees | Commission free |
| Audience | Beginners | Not confirmed |
| Legal entity | Topstep LLC | WEBULL FINANCIAL LLC |
| Headquarters | United States | Not confirmed |
| Founded | 2010 | Not confirmed |
| Support channels | Email, Chat, Phone, Help centre, CommunityCovers more | Email, Phone, Help centre |
Where each stands against the rest
| Fact | Topstep | Webull | Median |
|---|---|---|---|
| Minimum deposit | $49above the median | Not confirmed | $10 |
| Stock trade fee | $0.50highest quarter | $0at the median | $0 |
| Account fee | $0at the median | Not confirmed | $0 |
| Inactivity fee | $0at the median | Not confirmed | $0 |
| Options contract fee | Not confirmed | $0lowest quarter | $0.59 |
Median across 99 listed brokers.
Pros and cons
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.
Webull
Pros
- A stock trade costs $0 and an options contract $0 on the ira account.
- Investor protection is SIPC up to USD 500,000, with registration under FINRA, SEC and SIPC.
- A single app covers stocks, etfs and options, so shares, bonds, funds, options, futures and crypto sit together.
Cons
- Support runs on email, phone and help centre, with no live chat listed.
- Account choice is narrow, with ira the only type listed.
- Across the brokers compared, the middle retail loss share is 70.15% and the top of the range 88%.
Who each suits
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.
Webull
Who it suits
- US retail investors who want stocks, options, futures and crypto under a single login
- Beginners using the demo account in crypto, demo account and fractional shares before committing money
- Retirement savers who want $0 stock trades in the same app
Who should look elsewhere
- eToro, if you want forex and CFDs, since stocks, etfs and forex include them
- CFI, if your focus is forex and CFDs rather than stocks, etfs and options
- Vantage, if you trade metals and CFDs, which its forex, cfds and stocks cover
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
Country by country
| Country | Topstep | Webull |
|---|---|---|
| United States | No | Yes |
Questions about each
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.
Webull
What does it cost to trade?+
A stock trade costs $0 and an options contract $0, on the ira account. The pricing model is commission free, and incoming stock transfers are free. Costs stay low, though they do not decide whether a trade makes money.
Is my money protected if the firm fails?+
Accounts sit with WEBULL FINANCIAL LLC. Investor protection is SIPC up to USD 500,000, and registration with FINRA, SEC and SIPC applies, with SIPC membership listed as SIPC member 71394. Low costs do not change that, so weigh the retail loss figures before you trade.
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