TradeDay scores 14.0 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 | TradeDay 75/100 Strong |
|---|---|---|
| Payout split | 90% (flat for new traders as of Jan 12, 2026) | 80% on first $50K profit, 90% on next $50K, 95% above $100K |
| Max funded | $150,000 (Express Funded Account) | $150,000 |
| Payout cap | $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026 | None |
| Drawdown model | Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down | Choice of Intraday Trailing / EOD Trailing / Static — three variants per account size |
| Min trading days | 5 winning days required before payout request | Plan-dependent |
| Challenge fee | $49–$149/month subscription | $125–$375/mo subscription depending on account size; $50K typical $165/mo |
| Fee refundable | No — subscription model, no refund on payout | No — subscription model |
| News trading | Allowed — no restrictions on futures news trading | Restricted on funded accounts during major releases |
| Platforms | TopstepX (proprietary, mandatory as of 2026) | NinjaTrader, Tradovate, R-Trader, Quantower |
| Payout schedule | On demand after 5 winning days — processed 1-3 business days | Within-week processing |
| Research only | Visit TradeDay |
Verify regulator standing
Cross-check both firms against NFA BASIC, CFTC, and the CME Group rulebook for futures drawdown rule context. TradeDay: www.tradeday.com.
Dimension by dimension: who wins where
Computed live from the per-variable evidence behind each firm's TVSM-PF score — TradeDay takes 4 of 6 dimensions at current scores. Every variable links to a primary source on the firm pages.
TradeDay wins. Topstep’s 90% split is flat and looks higher, but a $2,000–$3,000 per-payout cap — reduced on new $50K accounts in April 2026 — ceilings every withdrawal. TradeDay has no payout cap and the split climbs to 95% past $100K, so it takes home more on any month above roughly $2,000. Read both rules verbatim below.
Topstep wins. Topstep’s narrow win: news trading is unrestricted on its funded accounts, while TradeDay restricts trading around major releases on funded accounts. Both publish their rules up front; TradeDay’s three-way drawdown choice adds flexibility but also more rule surface to learn.
TradeDay wins. Topstep cut its per-payout cap on new $50K accounts in April 2026 and reworked its split to flat-90% in January 2026 — recent mid-stream term changes that land squarely in this dimension. TradeDay’s terms have held steadier over the same window.
Effectively even. A genuine draw. Topstep has funded futures traders since 2012 — the longer record — but TradeDay (founded 2020 in Chicago, with named, public founders) is well-established and transparently owned. The dimension lands even at current scores.
TradeDay wins. TradeDay keeps open platform choice — NinjaTrader, Tradovate, Quantower and R-Trader — so you trade in the software you already know. Topstep is now locked to its proprietary TopstepX, mandatory as of 2026, and the forced migration shows up in execution-quality reports.
TradeDay wins. Both are monthly subscriptions with no refund, so value comes down to what you can withdraw. TradeDay charges more per month but removes the payout cap and scales the split; Topstep is cheaper to enter but its cap erodes the take-home on any sizeable month.
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 | TradeDay |
|---|---|---|
| Drawdown model | Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down | Choice of Intraday Trailing / EOD Trailing / Static — three variants per account size |
| Max drawdown | Trailing EOD MLL — $2,000 buffer on $50K account | Plan-dependent (Intraday / EOD / Static) |
| Daily loss limit | Dynamic Daily Loss Limit — scales with account balance | Plan-dependent |
| Payout split | 90% (flat for new traders as of Jan 12, 2026) | 80% on first $50K profit, 90% on next $50K, 95% above $100K |
| Payout cap | $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026 | None |
| Payout schedule | On demand after 5 winning days — processed 1-3 business days | Within-week processing |
| Min trading days | 5 winning days required before payout request | Plan-dependent |
| Consistency rule | Consistency EFA: largest single trading day cannot exceed 40% of total net profit during payout window. Standard EFA: no consistency target. | Disclosed pre-purchase |
| News trading | Allowed — no restrictions on futures news trading | Restricted on funded accounts during major releases |
| Weekend holds | Futures markets only — positions must be closed before CME weekend close per exchange rules. | Not permitted on funded accounts |
| Evaluation cost | $49–$149/month subscription | $125–$375/mo subscription depending on account size; $50K typical $165/mo |
| Fee refundable | No — subscription model, no refund on payout | No — subscription model |
| Platforms | TopstepX (proprietary, mandatory as of 2026) | NinjaTrader, Tradovate, R-Trader, Quantower |
| Max funded | $150,000 (Express Funded Account) | $150,000 |
| Scaling | Express Funded scales to $150K via successful Combine passes; no automatic scaling within an account | Up to $150K via account stacking; 95% split tier above $100K cumulative profit |
Verified June 2026 (Topstep) · June 2026 (TradeDay). 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.
Futures scalper
TradeDay
Platform freedom and frequent withdrawals decide it. TradeDay runs on NinjaTrader, Tradovate, R-Trader, Quantower with None payout cap, so a scalper banking small, frequent payouts keeps their NinjaTrader/Tradovate stack and is not ceilinged. The one caveat: if your scalping is built around news releases, see the next row.
News trader
Topstep
The only row Topstep clearly wins. Topstep: Allowed — no restrictions on futures news trading. TradeDay: Restricted on funded accounts during major releases. If your edge is economic releases, Topstep is the firm that lets you trade them on a funded account.
Risk-averse / drawdown-sensitive
TradeDay
TradeDay offers Choice of Intraday Trailing / EOD Trailing / Static — three variants per account size — the Static option fixes your loss limit from day one, with no trailing floor to chase. Topstep gives you only Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down, which can breach as your peak balance ratchets the floor upward.
High-volume / large withdrawals
TradeDay
No contest at scale. TradeDay: None payout cap, with the split rising to 95% above $100K cumulative profit. Topstep ceilings every payout — $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026 — so the more you earn in a month, the more the cap costs you.
Topstep vs TradeDay — the questions traders actually search
Is Topstep or TradeDay better in 2026?
TradeDay currently scores in the Strong band under TVSM-PF and wins four of the six scored dimensions — payouts, rules stability, platform, and cost. Topstep sits in the Adequate band, held back by its April 2026 per-payout-cap cut and the forced move to its proprietary platform, but keeps the edge on rule clarity (unrestricted news trading) and matches TradeDay on operating history. The live scores and per-variable evidence are on each firm page.
Which has the better payout — Topstep or TradeDay?
Topstep advertises the higher headline split — 90% (flat for new traders as of Jan 12, 2026) — but caps every withdrawal: $2,000/payout Standard, $3,000/payout Consistency — new $50K accounts from Apr 28, 2026. TradeDay’s split starts lower and scales — 80% on first $50K profit, 90% on next $50K, 95% above $100K — with None payout cap. Past roughly $2,000 a cycle, TradeDay’s no-cap structure takes home more despite the lower starting split.
Which is cheaper — Topstep or TradeDay?
Both are monthly subscriptions, and neither refunds the fee. Topstep: $49–$149/month subscription. TradeDay: $125–$375/mo subscription depending on account size; $50K typical $165/mo. Topstep is cheaper at entry; TradeDay charges more per month but removes the payout cap that limits what you can actually withdraw.
What is the difference between Topstep and TradeDay drawdown rules?
Topstep gives you one model: Trailing EOD MLL — ratchets up with peak end-of-day balance, never resets down. TradeDay lets you choose: Choice of Intraday Trailing / EOD Trailing / Static — three variants per account size. The Static option at TradeDay removes the trailing floor entirely — your loss limit is fixed from the start — which Topstep does not offer.
Do Topstep and TradeDay allow news trading?
This is Topstep’s clearest edge. Topstep: Allowed — no restrictions on futures news trading. TradeDay: Restricted on funded accounts during major releases. A trader whose edge is economic releases is better served at Topstep.
Which platforms do Topstep and TradeDay support?
Topstep is now locked to its own software: TopstepX (proprietary, mandatory as of 2026). TradeDay keeps open platform choice: NinjaTrader, Tradovate, R-Trader, Quantower. If you already trade in NinjaTrader or Tradovate, you keep your stack at TradeDay and give it up at Topstep.
Full breakdowns with per-variable sources: Topstep review · TradeDay review