Challenge Comparison Tool

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Halcyon Trader Funding Halcyon Trader Funding
Topstep Topstep
Halcyon Trader Funding 4.6 Get Started
Topstep 7.9 Get Started
Overview
Asset Type Futures Futures
Country United States United States
Established - Jan 2010
Technology White-Label Proprietary
Platforms Trading View, Quantower, Volumetrica, Rithmic, Tradesea, WealthCharts Topstep X
Trading Rules
Profit Split 90% Best 90%
Daily Drawdown No daily loss limit; trailing drawdown (Lite) or end-of-day drawdown (Prime) $2,000 max loss limit ($50K) / $3,000 ($100K) / $4,500 ($150K)
Payout Frequency On demand
Reward requests allowed after 8 full trading days (6 of 8 meeting min daily profit); qualifying days reset after each approved reward. 		On-demand
Direct Path to Funded ✗ No ✓ Yes
Reviews & Reputation
Review Count 0 reviews 0 reviews
Avg. Rating No ratings yet No ratings yet
Pros & Cons
Main Benefits
  • 90% profit split; no consistency rule or daily loss limit on Halcyon Lite; one-time evaluation fee with no monthly subscription; 1 minimum trading day to pass a Lite evaluation; news trading, copy trading and automated/algo trading permitted; rewards paid via Rise (Riseworks) with 3-business-day processing.
  • 90% profit split, instant payouts, no activation fee, pass in as little as 2 days, Chicago-based since 2010
Main Drawbacks
  • Day-trading only, all positions must be flat by 4:45 PM EST (no overnight or weekend holding); trailing drawdown counts unrealized profit and never moves back down; maximum of 5 approved rewards per Lite account before a required transition; HFT bots prohibited; the legacy Flagship Evaluation/Funded program is being wound down through 2026-07-31.
  • Trailing max loss limit (not static daily DD), TrustPilot rating 3.6, monthly subscription billing
Offers & Promo Codes
Active Offers No offers
$20 off No Activation Fee Trading Combine (any size). Up to 5 uses per trader. TONES

Challenge Details

Halcyon Trader Funding Challenges

3 challenges
Price Account Size Step Profit Target Max Daily Loss Max Drawdown Profit Split Activation Fee
$129 $25K 1 Step P1: $1,350
 P1: -
P1: $1,000 Trailing Drawdown
 90% None
$192 $50K 1 Step P1: $2,750
 P1: -
P1: $2,000 Trailing Drawdown
 90% None
$359 $150K 1 Step P1: $8,500
 P1: -
P1: $4,000 Trailing Drawdown
 90% None

Topstep Challenges

3 challenges
Price Account Size Step Profit Target Max Daily Loss Max Drawdown Profit Split Activation Fee
$49
/month 		$50K 1 Step P1: $3,000
 P1: -
P1: $2,000
 90% $149
$99
/month 		$100K 1 Step P1: $6,000
 P1: -
P1: $3,000
 90% $149
$199
/month 		$150K 1 Step P1: $9,000
 P1: -
P1: $4,500
 90% $149
Halcyon Trader Funding
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Topstep
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