FTMO vs Topstep in 2026 — I Tried Both, Here's What I'd Pick

I see this question in every trading Discord I'm in. "Should I go with FTMO or Topstep?" And the answers are always useless. Some guy who's never traded either one says "FTMO is the best" and gets 15 upvotes.

I've done two FTMO challenges (passed the second one) and one Topstep combine (passed it). They're not the same thing. Comparing them is like comparing a sedan and a pickup truck — both are vehicles, but you buy them for different reasons.

The fundamental difference

FTMO is for forex and CFD traders. You trade EUR/USD, gold, indices — the stuff you see on MetaTrader or cTrader. The spreads are what you'd expect from a decent retail broker.

Topstep is for futures traders. You're on NinjaTrader or Tradovate, trading ES, NQ, CL — real CME futures contracts with actual market depth. Completely different execution feel.

If you trade forex, FTMO. If you trade futures, Topstep. For most people, that's the end of the conversation. But let me break down the details anyway.

The numbers

See that daily loss and max drawdown difference? That's a big deal. FTMO gives you 5% daily and 10% total. Topstep gives you 3% daily and 6% total. On a $100K account, FTMO lets you lose $5,000 in a day. Topstep caps you at $3,000. And Topstep uses a trailing drawdown — meaning your drawdown limit moves up as you make profits.

What the trailing drawdown actually means

This is the part that trips people up with Topstep. Let's say you start with $100K and the 6% trailing drawdown. Your floor is $94K. Normal so far.

But then you have a great day and hit $103K in open equity. Your floor just moved up to $97K. It never moves back down. So now you need to stay above $97K — not the original $94K.

In practice, this means you can't let a big winning day give back its gains. I've seen traders hit $105K, feel great, then slowly bleed back to $99K — which is below their new trailing floor. Account closed. They were still profitable overall but the trailing rule got them.

FTMO doesn't do this. Your 10% drawdown is calculated from your starting balance and stays there. Much more forgiving.

My experience with each

FTMO felt more relaxed. I had room to breathe. The 10% drawdown meant I could have a rough week and recover. My strategy is swing trading EUR/USD and gold, so I need that room — I sometimes hold trades overnight and drawdown can spike temporarily.

Topstep was tighter. The 3% daily limit meant I could really only take 2-3 trades per day on NQ futures without sweating. And the trailing drawdown had me watching my equity like a hawk during winning trades, which honestly messed with my exits. I started closing winners too early because I was scared of the trail moving up and then giving back.

I passed both, but FTMO was less stressful. For me.

So which one should you pick?

Pick FTMO if: you trade forex or gold, you swing trade or hold positions, you want generous drawdown rules, you prefer MetaTrader or cTrader.

Pick Topstep if: you trade futures (ES, NQ, CL), you're a scalper or day trader who closes everything by end of day, you're comfortable with tight risk rules, you want a cheaper entry point ($99 vs $155).

Or use our prop firm comparison table to see all 8 firms side-by-side. FTMO and Topstep aren't your only options — E8 Markets starts at $55, and Apex Trader gives you 100% profit split.

Whatever you pick, run the drawdown calculator with that firm's specific limits before you start. Know exactly how much room you have. Know when to stop for the day. That's what separates the people who pass from the people who keep buying new challenges.