Direct Specification Matrix
FP Markets vs Topstep
Comprehensive side-by-side comparison of rules, prize structures, and trader experiences. Ratings calculated independently using identical public criteria.
Platform Type
forex broker
prop firm
Founded Year
2005
2012
HQ Country
AU
US
Tradable Markets
forex, indices, commodities, stocks
commodities, indices, crypto
Competition Formats
live account, volume based, deposit required
paid entry, simulated live_data
Entry Barrier / Cost
$100 deposit required
$49 deposit required
Typical Prize Pools
$15,000 – $150,000 USD
$50,000 – $1,000,000 USD
Max Leverage
Up to 1:500
Up to 1:20
Regulation Status
ASIC (Australia), CySEC (Cyprus), FSCA
Pioneer Futures Prop Evaluation Firm (Chicago US)
Payout Track Record
VERIFIED
VERIFIED
Decision Summary: Which Should You Choose?
Choose FP Markets if:
- • You prioritize forex, indices, commodities, stocks markets.
- • You prefer live account, volume based, deposit required formats.
- • You have sufficient trading balance to meet deposit requirements.
Choose Topstep if:
- • You trade primarily on commodities, indices, crypto.
- • You value paid entry, simulated live_data structures.
- • You want access to high volume reward tiers.