Phoenix Trader Funding
7.4 B+
Futures
Topstep
6.6 B+
Futures
Verdict: Who Wins?
Phoenix Trader Funding
5 wins
Our Pick
Topstep
1 wins
Best For:
Phoenix Trader Funding
Topstep
Phoenix Trader Funding
Topstep
Visual Comparison
Head-to-Head Comparison
| Phoenix Trader Funding | Metric | Topstep |
|---|---|---|
| 7.4/10 ★ | PFM Score | 6.6/10 |
| 4.6/5 (243) ★ | TrustPilot | 3.4/5 (13,955) |
| B+ | Safety Grade | B+ |
| 80% | Profit Split | 90% ★ |
| None on Classic/Spark evaluations; 25% Dynamic on Spark Direct $2K funded account | Daily Drawdown | $2,000 max loss limit ($50K) / $3,000 ($100K) / $4,500 ($150K) — trailing EOD |
| On-demand (within 48h) | Payout Frequency | Daily |
| $39 ★ | Starting Price | $95 |
| Proprietary | Technology | Proprietary |
| NinjaTrader, Tradovate, Quantower, Atas, Volumetrica, Rithmic | Platforms | Topstep X |
| Yes | Direct Path to Funded | Yes |
| United States | Country | United States |
| Aug 2023 | Established | Jan 2010 |
| 6 options | Challenge Options | 3 options |
Price Comparison by Account Size
Cheapest challenge price at each account size (where both firms offer the same size)
| Account Size | Phoenix Trader Funding | Topstep | Savings |
|---|---|---|---|
| $50K | $69 ★ | $95 | Save $26 |
| $100K | $269 | $149 ★ | Save $120 |
Phoenix Trader Funding vs Topstep: Detailed Analysis
Phoenix Trader Funding and Topstep are both Futures firms. Topstep has been in business longer, established in 2010, while Phoenix Trader Funding was founded in 2023.
In terms of pricing, Phoenix Trader Funding is more affordable with challenges starting at $39, which is $56 less than Topstep's starting price of $95. Phoenix Trader Funding offers 6 challenge options, while Topstep offers 3.
Phoenix Trader Funding offers 80% profit split, while Topstep offers 90%. Phoenix Trader Funding pays out On-demand (within 48h), and Topstep pays out Daily.
For trust and reputation, Phoenix Trader Funding has a 4.6/5 TrustPilot rating with 243 reviews, while Topstep has 3.4/5 with 13,955 reviews. Safety grades: Phoenix Trader Funding B+, Topstep B+.
Overall, Phoenix Trader Funding edges ahead winning 5 out of 6 categories we compared. However, the best choice depends on your specific needs — both firms have their strengths.
Pros & Cons
Phoenix Trader Funding
Pros
Cons
Topstep
Pros
Cons
Active Deals & Promo Codes
Phoenix Trader Funding
Topstep
Frequently Asked Questions
Which is better, Phoenix Trader Funding or Topstep?
Phoenix Trader Funding scores higher overall, winning 5 out of 6 comparison categories including Overall Rating, TrustPilot, Starting Price. However, the best choice depends on your trading goals and priorities.
Which is cheaper, Phoenix Trader Funding or Topstep?
Phoenix Trader Funding has the lower starting price at $39. Phoenix Trader Funding offers 6 challenge options starting from $39, while Topstep offers 3 options starting from $95.
Which has better reviews, Phoenix Trader Funding or Topstep?
Phoenix Trader Funding has a higher TrustPilot rating of 4.6/5. Phoenix Trader Funding has 243 reviews while Topstep has 13,955.
Which offers a higher profit split, Phoenix Trader Funding or Topstep?
Topstep offers a higher maximum profit split. Phoenix Trader Funding offers 80% while Topstep offers 90%.
How fast do Phoenix Trader Funding and Topstep pay out?
Phoenix Trader Funding has On-demand (within 48h) payouts while Topstep offers Daily payouts. Payout speed can be an important factor when choosing a prop firm.