Topstep vs Velotrade: Futures vs Crypto Prop Trading in 2026

Topstep and Velotrade are both prop trading firms. Beyond that, almost nothing overlaps. Topstep is built for CME futures traders. Velotrade is built exclusively for crypto traders. If you are comparing the two, the core question is not which firm has better rules. It is which market you actually trade.

This Topstep vs Velotrade comparison covers what each firm offers, where they differ structurally, and how to decide which model fits your strategy.

Quick Comparison: Topstep vs Velotrade

About Topstep

Topstep launched in 2012 and is one of the oldest retail prop firms still operating. It pioneered the funded futures account model: traders pay a monthly subscription to access a Trading Combine, trade against a daily loss limit and trailing drawdown threshold, and upon meeting the requirements receive a funded account with real capital.

The firm operates exclusively on CME Group futures markets. Its trader base is built around US equity index futures (ES, MES, NQ, MNQ), commodities (CL, GC), and interest rate products (ZB, ZN). All of these trade during defined US market hours and are closed over the weekend.

Topstep has over a decade of payout history, a large active community, and a well-documented rules structure. For futures traders, it is the most established name in the space.

About Velotrade

Velotrade launched in 2024 with a founding team from Bloomberg, the Financial Times, Nasdaq, and institutional desks at JP Morgan, Bank of America, and Dresdner Kleinwort. The firm was built exclusively for crypto traders.

The evaluation model borrows the challenge structure made familiar by futures prop firms like Topstep: pay a fee, trade against a profit target and drawdown limit, get funded. The model applies to crypto perpetuals and derivatives on a 24/7 market. The platform is DXtrade, which supports crypto derivatives natively, including API access for automated strategies.

Market Structure: The Fundamental Difference

The most important thing to understand about this comparison is that Topstep and Velotrade serve traders in different markets with different structural properties.

CME futures (Topstep):

• Fixed trading sessions, primarily US hours
• Centralized exchange infrastructure with CME clearing
• High liquidity on major contracts during session
• No weekend trading
• Regulated under US commodity law (CFTC oversight)

Crypto perpetuals (Velotrade):

• 24/7 trading including weekends
• Decentralized and centralized exchange infrastructure
• Funding rate mechanics specific to perpetual contracts
• Weekend market moves are a regular source of alpha (and risk)
• News events drive outsized moves at any hour

If you trade ES or NQ futures during US hours, Topstep is built for your market. If you trade BTC or ETH perpetuals around the clock, Topstep has nothing to offer you. Not because its rules are inferior, but because the market simply does not exist on its platform.

Challenge Model: Subscription vs One-Time Fee

This is a structural difference that affects your cost model depending on how long it takes to pass.

Topstep uses a monthly subscription for its Trading Combine. You pay each month until you pass the combine and receive a funded account. If you pass quickly, the total cost is low. If you take multiple months, the cost adds up. Topstep also offers an Express Funded option with a one-time fee for traders who want to skip the subscription model.

Velotrade charges a one-time challenge fee per attempt. There is no monthly cost. If you do not pass within the allotted time, you purchase another attempt. At the $50K level, the 2-Step Classic costs $540 per attempt with no ongoing subscription.

For traders who pass evaluations quickly, Topstep's subscription model can be cost-efficient. For traders who expect to take multiple months or multiple attempts, Velotrade's one-time fee structure is more predictable.

Drawdown Rules: How Each Firm Manages Risk

Both firms use a trailing drawdown model, but the mechanics differ because the underlying markets differ.

Topstep applies its trailing drawdown in dollar terms tied to maximum intraday equity. The drawdown threshold trails up as your account equity reaches new highs. Once the threshold reaches your starting balance, it locks in place as a fixed maximum loss limit. Daily loss limits are also enforced in dollar terms per session.

Velotrade uses EOD (end-of-day) trailing drawdown expressed as a percentage of account size. The high-water mark is only recorded at market close. Intraday equity peaks do not move the floor. For crypto traders managing volatile intraday positions, this prevents the drawdown floor from chasing unrealised gains during open trades.

The EOD trailing vs tick-by-tick drawdown article covers the structural mechanics in full if you want the detailed comparison.

Profit Split

Both firms offer up to 90% profit split on funded accounts.

Topstep historically paid 100% of the first $5,000 to $10,000 in profits and 90% thereafter. The specific terms depend on the account type selected.

Velotrade pays 80% to 90% from the first payout depending on challenge type and account size, with no time-based scaling requirement.

Platform

Topstep supports NinjaTrader, Tradovate, and R|Trader Pro, the standard platforms for CME futures trading. If your workflows, scripts, and EAs are built for these platforms, Topstep fits your existing setup.

Velotrade runs on DXtrade, which supports crypto derivatives natively. Full API access was opened in May 2026 with no restrictions, enabling direct integration with bots, signal systems, and external automation. For algo traders and developers building crypto-specific strategies, DXtrade's architecture is better suited than MT4/MT5 or NinjaTrader.

Who Should Choose Topstep

Topstep is the right choice if:

• Futures trading (ES, NQ, CL, GC) is your primary market
• You want the longest-running prop firm in the retail space
• Your trading workflows are built on NinjaTrader or Tradovate
• You want a free trial before committing fees
• US trading hours align with your schedule

For futures traders, Topstep has earned its position. It has over a decade of funded accounts and payouts, an active community, and a well-documented evaluation structure.

Who Should Choose Velotrade

Velotrade is the right choice if:

• Crypto is your primary market
• You trade outside US hours or on weekends
• You want 24/7 access to perpetuals and crypto derivatives
• You run automated strategies that need API access
• You want a $5K starting account
• You trade around news events or major macro catalysts

If you are coming from Topstep and want to add a crypto prop account alongside your futures account, the two are fully compatible. Many traders run both simultaneously. For more detail on why crypto-native rules matter versus a generalist firm adapted for crypto, see best Topstep alternative for crypto traders.

Ready to start your crypto prop challenge? View challenges and pricing →

For a broader comparison of crypto prop firms, see best crypto prop firms in 2026. For a full independent review of Topstep's structure and rules, see Topstep review 2026.

This comparison is based on publicly available information as of May 2026. Challenge fees, rules, and account terms are subject to change. Always verify current conditions on each firm's website before purchasing a challenge.

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