Last reviewed: March 2026 · Topstep and Apex data from public websites. Bulenox data verified by FuturesFury.
Topstep vs Apex vs Bulenox — Which Futures Prop Firm Is Best?
Three of the most popular futures prop firms compared on every metric that matters: pricing, drawdown rules, profit splits, consistency rules, and payout speed. No hype — just the numbers.
Full Comparison Table
| Metric | Topstep | Apex | Bulenox |
|---|---|---|---|
| Evaluation Model | 1-Step (Trading Combine) | 1-Step (Eval → PA) | 1-Step Challenge |
| Pricing Model | Monthly subscription | One-time fee (30-day access) | Monthly subscription |
| 50K Price | $49/mo | $167 | $175/mo |
| 100K Price | $99/mo | $277 | $215/mo |
| Drawdown | EOD | Trailing + EOD | Flexible Trailing |
| 50K Drawdown | $2,000 | $2,500 | $2,500 |
| 50K Profit Target | $3,000 | $3,000 | $3,000 |
| Consistency (Eval) | Smoothing formula on funded | None | None |
| Consistency (Funded) | 50% | 50% | 40% |
| Profit Split | 90% → 100% | 100% (Sim Funded) | 100% / 90% |
| Activation Fee | $149 | $79 | $98 (10K) / $143 (25K) / $148 (50K) / $248 (100K) / $498 (150K) / $898 (250K) |
| Reset Fee | N/A (new subscription) | N/A (buy new eval) | Free on rebill / $78 manual |
| Payout Frequency | 8+ business days | Every 5 trading days | Weekly (Wednesdays) |
| Max Accounts | Not specified | 20 | Multiple |
| Min Hold Time | None | None | None |
| News Trading | Allowed | Allowed | Allowed |
| Platforms | TopstepX, NinjaTrader | Rithmic, Tradovate, WealthCharts, NinjaTrader | NinjaTrader, R|Trader Pro, Project X, Sierra Chart, Bookmap, Quantower |
| Min Trading Days | 2 days | 1 days | None |
Topstep Overview
Topstep is one of the longest-running futures prop firms, with a well-established brand and community. Their Trading Combine is a monthly subscription model: pay $49-$149/mo until you pass or cancel. There's no time pressure to pass in a specific window — your price locks in for the life of the Combine.
The key limitation is drawdown: Topstep uses trailing drawdown only (Maximum Loss Limit). Your floor follows your highest equity in real time and never moves down. There's no EOD option. For traders who experience normal intraday pullbacks after profits, this means your buffer permanently tightens with every unrealized peak.
Topstep is moving all new accounts to TopstepX, their proprietary platform, starting July 2025. Traders currently on NinjaTrader or Tradovate will eventually need to migrate. The 90% profit split is competitive, and payouts can be requested after 5 winning days of $150+.
Apex Trader Funding Overview
Apex is the highest-volume futures prop firm, known for frequent deep discounts (80-90% off evaluations) and a 100% profit split in Sim Funded. They offer both intraday trailing and EOD drawdown as separate products — choose at purchase time. One-time fees with no recurring billing and 30-day access periods.
The evaluation phase is extremely trader-friendly: no consistency rule, no minimum days, pass in one day. However, the funded Performance Account introduces a 50% consistency rule, scaling restrictions, and a $79 activation fee per account. The 30-day eval expiry with no reset option means a failed attempt requires purchasing a new evaluation.
Apex allows up to 20 simultaneous accounts — far more than any competitor. This appeals to traders who want to diversify strategies across multiple accounts. Platforms include Rithmic, Tradovate, WealthCharts, and NinjaTrader.
Bulenox Overview
Bulenox is the only firm among these three that lets you choose your drawdown model at purchase: Option 1 (trailing intraday) or Option 2 (EOD trailing). This flexibility is a genuine differentiator — you match the evaluation to your trading style rather than adapting your strategy to the firm's model.
Bulenox offers 100% profit retention on your first $10,000 earned, then 90%. Weekly payouts on Wednesdays. The 40% consistency rule applies only on funded Master Accounts, not during evaluation. Reset fees are $78 — cheaper than Topstep's monthly fee and more accessible than Apex's buy-a-new-eval approach.
Account sizes range from $25K to $250K. The firm supports NinjaTrader, Tradovate, and Rithmic. For a full review, see the Bulenox profile page or check the Bulenox discount page for current promo codes.
Which Firm Is Best?
Best for Beginners
Topstep has the lowest monthly cost ($49 for 50K) and no time pressure — you can take months to practice and pass. Bulenox is a close second with its EOD drawdown option, which is more forgiving for new traders still learning risk management. Apex's one-time fee is attractive but the 30-day expiry adds pressure. See our beginner's guide for more options.
Best Payout Structure
Apex wins on paper with 100% profit split. However, the 50% funded consistency rule means you may earn 100% of less if your best days are capped. Bulenox offers 100% on the first $10K with a more relaxed 40% funded consistency, which means more of your profit is actually withdrawable. Topstep's 90% is straightforward with fewer restrictions on individual payouts.
Best for Scalping
Bulenox EOD option is ideal — intraday dips don't affect the floor. Apex EOD is comparable. Topstep is the hardest for scalping due to trailing-only drawdown that tightens on every unrealized peak. None of the three have minimum hold times, so fast execution is allowed on all. Read more on the best prop firms for scalping page.
Best for Flexibility
Apex wins on account count (20) and platform choice (4 platforms). Bulenox wins on drawdown flexibility (choose trailing or EOD). Topstep is most restrictive — trailing only, moving to TopstepX only, $149 activation on Standard path.
For a broader comparison including all 10 futures prop firms we track, see the full firm comparison. Review the rules guide before purchasing any evaluation. Current discounts are available on the discount codes page.