Topstep
CHICAGO, United States, Feb. 10, 2026 — In the fast-moving and often unforgiving world of proprietary trading, few firms spark as much conversation as Topstep, a Chicago-based futures prop firm that has spent more than a decade shaping how aspiring traders access capital. During the week of Feb. 3 through Feb. 9, 2026, the company once again found itself at the center of industry attention, unveiling product innovations, expanding educational outreach, and navigating sharply divided sentiment across social media. According to Topstep’s official communications and trader discussions on X, the firm’s latest moves reflect an effort to balance flexibility and discipline at a time when trust and transparency have become critical differentiators in the prop trading space.
The headline development this week was the introduction of the new “Consistency Path” for Express Funded Accounts, a structural change designed to address long-standing trader concerns around payout timing and evaluation rigidity. As stated by Topstep, the initiative aims to reward steady performance rather than short bursts of profitability, a shift that mirrors broader conversations across financial markets about sustainable risk management. While some traders welcomed the change as overdue progress, others questioned whether the firm has done enough to resolve lingering operational issues that surfaced in late 2025.
Beyond product updates, Topstep continued to invest heavily in trader education, releasing new live sessions and market outlooks intended to help participants navigate quieter, low-volatility conditions. At the same time, conversations on X painted a complex picture of the firm’s standing, with posts ranging from celebratory payout announcements to sharp criticism of management decisions. Taken together, the week offered a revealing snapshot of a prop firm attempting to evolve under intense public scrutiny.
Introducing the Consistency Path: A Shift in How Traders Earn
According to Topstep’s blog announcement on Feb. 5, the newly launched Consistency Path provides an alternative route for traders who have successfully passed the Trading Combine® and are operating within an Express Funded Account. Traditionally, traders were required to meet the Standard Path criteria, which focused on accumulating a set number of winning days. The Consistency Path, by contrast, emphasizes balanced performance over a shorter timeframe.
Under the new structure, traders must complete a minimum of three trading days and maintain a 40% consistency target, meaning their single most profitable day cannot exceed 40% of their total net profits. Once these conditions are met, traders may request payouts of up to 50% of the account balance, capped at $6,000. As outlined by Topstep, the profit split remains unchanged at 90/10 in favor of the trader, preserving one of the firm’s most attractive incentives.
Topstep positioned the Consistency Path as a response to feedback from traders whose strategies prioritize steady gains rather than aggressive daily targets. In line with the firm’s long-standing risk-first philosophy, the new path maintains core safeguards, including daily loss limits that trail profits and strict compliance rules. Trading remains restricted to futures products listed on major U.S. exchanges such as CME, CBOT, NYMEX, and COMEX, with stocks, options, forex, and cryptocurrencies excluded.
The Consistency Path exists alongside the Standard Path, giving traders the ability to choose the framework that best aligns with their trading style. According to Topstep’s Help Center, both paths operate under a single rule set designed to simplify expectations while reinforcing discipline. This dual-path approach reflects an attempt to broaden appeal without diluting the firm’s emphasis on controlled risk exposure.
Live Funded Accounts: Stability Without Structural Change
In addition to the Express Funded Account update, Topstep referenced changes to its Live Funded Account rules on Feb. 9, noting an updated timestamp on its Help Center pages. However, a closer comparison with the December 2025 version shows no material changes to the underlying structure. According to Topstep documentation, Live Funded Accounts continue to operate with dynamic loss limits, contract scaling thresholds, and immediate termination for rule violations.
As per Topstep’s published data, progression to Live Funded Accounts remains statistically rare. In 2025, only 0.71% of traders advanced from Express Funded status to Live accounts, underscoring the firm’s stringent standards. While this exclusivity is often cited by supporters as evidence of quality control, critics argue it reinforces perceptions of an uphill battle with limited upside.
Payouts from Live Funded Accounts are contingent on strict compliance and verification, with no tolerance for breaches. According to industry observers, the lack of changes this week suggests Topstep is prioritizing stability in its highest-risk tier, even as it experiments with flexibility at earlier stages of the trader journey.
Education as a Strategic Anchor in Quiet Markets
Educational programming remained a cornerstone of Topstep’s weekly activity. On Feb. 9, the firm hosted a live YouTube session titled “Slow Markets with Dakota,” focusing on strategies for overnight futures trading during periods of low volatility. Coach Dakota emphasized patience, selective trade entries, and the importance of adjusting expectations when market participation thins.
The session, according to TopstepTV, was designed to help traders avoid overtrading in subdued environments, a common pitfall that can quickly erode accounts under trailing loss limits. By addressing slower conditions head-on, Topstep reinforced its messaging around process-driven trading rather than constant action.
A day earlier, Performance Coach John Hoagland released his widely followed Weekly Kickoff Levels, outlining key technical areas for major futures contracts including the S&P 500, Nasdaq-100, Dow Jones, crude oil, gold, and the euro. In line with his usual approach, Hoagland framed the outlook in terms of directional bias and critical price zones rather than predictive forecasts.
According to Hoagland, many markets were entering the week in sideways or consolidative phases, requiring traders to be more selective. These insights, combined with Topstep’s Economic Release Calendar, form part of a broader educational ecosystem intended to prepare traders for both active and muted market conditions.
Trader Sentiment on X: Praise, Frustration, and Everything Between
While official updates painted a picture of measured progress, trader sentiment on X told a more complicated story. Throughout the week, posts reflected a polarized community, with success stories sitting alongside sharp critiques of the firm’s leadership and policies. According to user-generated content, this divide has become a defining feature of Topstep’s public perception.
On the positive side, several traders shared payout milestones that resonated widely. One trader reported securing a $4,300 payout, bringing total withdrawals to $59,400 over 67 days, urging others to “ignore the noise and keep executing.” Another user praised the recent updates, prompting engagement from Topstep’s official account, which reinforced the firm’s commitment to ongoing improvements.
CEO Michael Patak also remained active on the platform, highlighting Topstep’s risk management tools and framing the firm as an educational gateway rather than a shortcut to riches. In one post, he described Topstep as the “best of the steps” for learning disciplined futures trading, a message echoed by long-time supporters.
At the same time, critical voices remained prominent. Some users revisited grievances from late 2025, including platform outages, pricing changes, and restrictions on certain instruments. Others questioned the firm’s long-term viability, accusing management of poor communication and comparing Topstep unfavorably to competitors offering fewer payout caps.
“The product has completely fallen off. Awful management and zero ability to read the room,” one trader wrote, summarizing a sentiment shared by many skeptics.
These contrasting narratives underscore the challenge Topstep faces: maintaining credibility with a trader base that is increasingly vocal, data-driven, and willing to compare offerings across the crowded prop firm landscape.
Context: Innovation Against a Backdrop of Industry Pressure
Topstep’s February developments cannot be viewed in isolation. The prop trading industry has undergone significant change over the past year, with heightened competition, regulatory scrutiny, and technological shifts reshaping expectations. According to industry analysts, traders are no longer evaluating firms solely on profit splits or account sizes, but on transparency, platform reliability, and long-term alignment.
In January 2026, Topstep announced the launch of Topstep Brokerage in partnership with Plus500, allowing traders to transition prop earnings into live brokerage accounts. While still in a phased rollout, the initiative signaled an ambition to extend beyond simulation-based funding. However, earlier technical issues, including outages on the TopstepX platform and a reported data breach in January, continue to influence sentiment despite assurances from management that safeguards have been strengthened.
According to Topstep, measures such as enhanced safety stops and infrastructure upgrades were implemented to prevent repeat incidents. This week’s absence of new technical disruptions was noted positively by some traders, though others remain cautious, waiting for a longer track record of stability.
What the Numbers Say About Trader Outcomes
Performance statistics provide additional context to the ongoing debate. As per Topstep’s disclosed figures, only 16.8% of traders passed the Trading Combine in 2025, with just over half reaching funded status. Of those, roughly one-third received payouts, highlighting both the opportunity and difficulty inherent in the model.
Supporters argue these numbers reflect realistic market conditions and reinforce the value of Topstep’s emphasis on discipline. Critics counter that the low progression rates raise questions about accessibility and whether recent changes, including the Consistency Path, go far enough in addressing structural barriers.
The introduction of multiple payout paths suggests Topstep is listening, but the ultimate test will be whether these changes translate into sustained trader success and improved sentiment over time.
As February unfolds, Topstep stands at a pivotal moment. The firm’s willingness to innovate, invest in education, and engage publicly with its community demonstrates adaptability. Yet, the divided response from traders highlights the delicate balance required to rebuild trust while enforcing the rigorous standards that define proprietary trading. For now, Topstep’s latest updates have reignited conversation across the industry, ensuring the firm remains firmly in the spotlight.
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