The5ers scores 14.4 higher under TVSM-PF/2.0.2.
Payout split
Max funded
Payout cap
Drawdown model
Min trading days
Challenge fee
Fee refundable
News trading
Platforms
Payout schedule
| Specification | Topstep 61/100 Adequate | The5ers 76/100 Strong |
|---|---|---|
| Payout split | 90% (flat for new traders as of Jan 12, 2026) | 80% (scales to higher tiers over time) |
| Max funded | $150,000 (Express Funded Account) | $4,000,000 (via scaling plan) |
| Payout cap | $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026 | First four payouts are capped, tiered by account size (25K: $1,250 each; 50K: $1,500 to $3,000; 100K: $3,000 then 3% of balance; 150K: $4,500 then 3% of balance). Uncapped after the fourth payout. |
| Drawdown model | Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down | Static max loss from initial balance (never trailing) |
| Min trading days | 5 winning days required before payout request | 3 |
| Challenge fee | $49–$149/month subscription | ~$500–$700 for $100K Hyper program |
| Fee refundable | No — subscription model, no refund on payout | Yes — refunded with first payout (Hyper program) |
| News trading | Allowed — no restrictions on futures news trading | Generally allowed; minimal restrictions vs. peers. Scalping restrictions apply. |
| Platforms | TopstepX (proprietary, mandatory as of 2026) | MT4, MT5 |
| Payout schedule | On demand after 5 winning days — processed 1-3 business days | Weekly; on-demand within 1–3 business days |
| Research only | Visit The5ers |
Verify regulator standing
Cross-check both firms against NFA BASIC, FCA Register, CFTC, and the CME Group rulebook for futures drawdown rule context. The5ers: www.the5ers.com.
The Verdict
Choose Topstep if you trade CME futures and want the most established firm in the category. Strong community, integrated TopstepX platform, the Combine evaluation that funded traders have been passing for years. Note that Topstep cut its payout cap to $2,000 in April 2026 — a material change to its payout structure. Choose The5ersif you trade forex. The one-step instant funding model, no payout cap, and consistent payout cadence are best-in-class for the forex one-step category. These firms aren't competitors — they serve different markets, and the right answer is decided by what you trade.
Dimension by dimension: who wins where
Computed live from the per-variable evidence behind each firm's TVSM-PF score — The5ers takes 5 of 6 dimensions at current scores. Every variable links to a primary source on the firm pages.
The5ers wins. Topstep pays 90% (flat for new traders as of Jan 12, 2026); The5ers pays 80% (scales to higher tiers over time). Per-payout caps — Topstep: $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026; The5ers: First four payouts are capped, tiered by account size (25K: $1,250 each; 50K: $1,500 to $3,000; 100K: $3,000 then 3% of balance; 150K: $4,500 then 3% of balance). Uncapped after the fourth payout. — decide who keeps more in a big month.
The5ers wins. Drawdown models differ: Topstep runs Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down; The5ers runs Static max loss from initial balance (never trailing). The model decides how much intraday heat you can take before breaching.
The5ers wins. Mid-stream rule changes are penalized here, and every change is tracked in our append-only changelog — so a recent payout or drawdown change shows up in this dimension rather than being quietly absorbed.
Effectively even. Operating history and scale matter most when a payout goes sideways — the longer-running, better-capitalised firm carries less counterparty risk, and this dimension reflects each firm's track record to date.
The5ers wins. Platforms: Topstep — TopstepX (proprietary, mandatory as of 2026); The5ers — MT4, MT5. If your edge depends on a specific platform, this is the deciding line.
The5ers wins. Evaluation cost: Topstep — $49–$149/month subscription; The5ers — ~$500–$700 for $100K Hyper program. Fee refundable — Topstep: No — subscription model, no refund on payout; The5ers: Yes — refunded with first payout (Hyper program).
Rule by rule, in each firm's own terms
Verbatim from our verified spec database — the conditions are the product, so nothing here is flattened to a yes/no. Where a rule has tiers or conditions, you are reading them.
| Rule | Topstep | The5ers |
|---|---|---|
| Drawdown model | Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down | Static max loss from initial balance (never trailing) |
| Max drawdown | Trailing EOD MLL — $2,000 buffer on $50K account | 4–6% static from initial balance (varies by program) |
| Daily loss limit | Dynamic Daily Loss Limit — scales with account balance | 4% static EOD balance-based |
| Payout split | 90% (flat for new traders as of Jan 12, 2026) | 80% (scales to higher tiers over time) |
| Payout cap | $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026 | First four payouts are capped, tiered by account size (25K: $1,250 each; 50K: $1,500 to $3,000; 100K: $3,000 then 3% of balance; 150K: $4,500 then 3% of balance). Uncapped after the fourth payout. |
| Payout schedule | On demand after 5 winning days — processed 1-3 business days | Weekly; on-demand within 1–3 business days |
| Min trading days | 5 winning days required before payout request | 3 |
| Consistency rule | Consistency EFA: largest single trading day cannot exceed 40% of total net profit during payout window. Standard EFA: no consistency target. | No formal consistency rule on instant funding accounts |
| News trading | Allowed — no restrictions on futures news trading | Generally allowed; minimal restrictions vs. peers. Scalping restrictions apply. |
| Weekend holds | Futures markets only — positions must be closed before CME weekend close per exchange rules. | Allowed — swing trading is core use case |
| Evaluation cost | $49–$149/month subscription | ~$500–$700 for $100K Hyper program |
| Fee refundable | No — subscription model, no refund on payout | Yes — refunded with first payout (Hyper program) |
| Platforms | TopstepX (proprietary, mandatory as of 2026) | MT4, MT5 |
| Max funded | $150,000 (Express Funded Account) | $4,000,000 (via scaling plan) |
| Scaling | Express Funded scales to $150K via successful Combine passes; no automatic scaling within an account | Consistent profitability scales account size up to $4M. Split improves with milestones. |
Verified June 2026 (Topstep) · June 2026 (The5ers). Source extracts for every scored variable are on the firm pages.
The verdict, by trader type
A comparison that ends in “it depends” is not a verdict. Picks below are per trading style — find yours.
Most traders
The5ers
The5ers takes 5 of the 6 scored dimensions at current scores, which makes it the safer default for a trader without a strong style preference. Read the per-dimension breakdown above first — a single dimension you care about can flip the decision.
Cost-conscious
The5ers
Entry cost: Topstep — $49–$149/month subscription; The5ers — ~$500–$700 for $100K Hyper program. The5ers wins on cost-value once refunds and discounts are weighed.
Rules-sensitive trader
The5ers
If clean, predictable rules matter most, read the drawdown model first: Topstep runs Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down; The5ers runs Static max loss from initial balance (never trailing). The5ers scores better on rule fairness and clarity.
High earner
The5ers
Profit splits: Topstep — 90% (flat for new traders as of Jan 12, 2026); The5ers — 80% (scales to higher tiers over time). The5ers has the stronger payout profile once caps are factored in. Always read the per-payout cap in full before a large withdrawal.
Topstep vs The5ers — the questions traders actually search
Is Topstep or The5ers better in 2026?
Under TraderVerdict's independent TVSM methodology, Topstep scores in the Adequate band and The5ers in the Strong band. The5ers wins 5 of the 6 scored dimensions at current scores. The right pick depends on which firm's payout, drawdown, and cost terms fit how you trade.
What is the main difference between Topstep and The5ers?
Topstep and The5ers differ across the TVSM-scored variables that decide whether a funded trader actually gets paid — profit split, drawdown model, payout caps, pricing, and operating stability. The rule-by-rule table on this page shows each one verbatim from our verified specs.
Which is cheaper — Topstep or The5ers?
Topstep: $49–$149/month subscription. The5ers: ~$500–$700 for $100K Hyper program. Weigh the fee against how long the evaluation takes you — a one-time fee beats a subscription on a slow pass, and the reverse on a fast one.
Which pays out more — Topstep or The5ers?
Profit split: Topstep — 90% (flat for new traders as of Jan 12, 2026). The5ers — 80% (scales to higher tiers over time). Per-payout caps: Topstep — $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026; The5ers — First four payouts are capped, tiered by account size (25K: $1,250 each; 50K: $1,500 to $3,000; 100K: $3,000 then 3% of balance; 150K: $4,500 then 3% of balance). Uncapped after the fourth payout.. Read both cap rules in full before buying — they bind hardest in your best months.
What is the difference between Topstep and The5ers drawdown rules?
Topstep: Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down. The5ers: Static max loss from initial balance (never trailing). The drawdown model is the single most common reason funded accounts fail, so match it to whether you hold through intraday heat.
Do Topstep and The5ers allow news trading?
Topstep: Allowed — no restrictions on futures news trading. The5ers: Generally allowed; minimal restrictions vs. peers. Scalping restrictions apply..
What account sizes do Topstep and The5ers offer?
Topstep: $150,000 (Express Funded Account). The5ers: $4,000,000 (via scaling plan). Scaling: Topstep — Express Funded scales to $150K via successful Combine passes; no automatic scaling within an account; The5ers — Consistent profitability scales account size up to $4M. Split improves with milestones..
Are TraderVerdict's prop-firm comparisons independent?
Yes. Every firm is scored against a public, versioned methodology before any commercial relationship, and affiliate links are only added to firms that clear our editorial bar. A firm cannot pay for a higher score or to remove a critical finding.
Full breakdowns with per-variable sources: Topstep review · The5ers review