Prop Firms Comparison Table 2026: Phidias vs Topstep vs FTMO vs Apex

Choosing the right prop firm can make all the difference between a successful funded trader career and months of frustration. In 2026, the proprietary trading firm market has evolved considerably. New offers have emerged, conditions have improved, and competition is pushing the major players to innovate constantly. Among the names that come up most often in discussions between traders, four clearly stand out: Phidias Propfirm, Topstep, FTMO and Apex Trader Funding.

Each of these prop firms has its own strengths and weaknesses. Some focus exclusively on Futures, others on Forex. Pricing models vary enormously, as do drawdown rules, profit split, the number of accounts allowed or even the speed of payouts. To help you see things clearly, we've compiled all this data into a visual comparison table, followed by a detailed analysis criterion by criterion. Whether you're a beginner looking for your first evaluation or an experienced trader seeking to optimize your conditions, this comparison will provide the concrete answers you need.

Detailed Analysis by Criterion

Entry price and pricing model

This is probably the most decisive criterion for most traders, especially beginners. Phidias Propfirm stands out radically with its OTP (One Time Payment) model. Unlike Topstep and Apex who charge a monthly subscription, Phidias only asks for a single payment. This means that if you fail your evaluation, you don't have recurring fees piling up month after month. With the LUCAS code, the entry price drops to only $55 for a 50K account, making it by far the most accessible option on the market. For comparison, Topstep asks for around $165 per month for its smallest account, and Apex around $147 per month. Over three months of evaluation, the bill can quickly triple with these competitors.

FTMO adopts an intermediate model with an evaluation payable in one go, but the rates are significantly higher (starting at €155). Its two-step process also lengthens the time before getting a funded account, which can represent a non-negligible opportunity cost for traders eager to start generating income.

Drawdown: EOD vs Real-time

The drawdown type is often underestimated by beginners, but it's a determining factor in your success rate. An EOD (End of Day) drawdown, like the one offered by Phidias, only takes into account your end-of-day balance. This means that during the trading session, you can withstand temporary drawdowns without risking immediate elimination, as long as you close the day within the authorized limits. This flexibility is particularly valuable for traders who practice scalping or day trading with wide stops.

On the other hand, Topstep uses a real-time trailing drawdown, the most restrictive of all. Your loss limit recalculates in real time based on your highest profit. A single profit peak followed by a reversal can eliminate you instantly. Apex also offers a trailing drawdown, but in EOD version, which is a good compromise. FTMO applies a classic real-time drawdown (non-trailing), which remains more restrictive than Phidias's pure EOD model.

Profit Split and profitability

On paper, Apex Trader Funding offers the most generous profit split with 100% on the first $25,000 of gains. This is a very attractive offer for traders capable of quickly generating profits. Topstep offers 90% after reaching the $10,000 threshold of cumulative gains. FTMO and Phidias sit at 80%, with the possibility of reaching 90% at FTMO by obtaining confirmed trader status. However, it's crucial not to look only at the split percentage. Entry cost, recurring fees and activation fees must be integrated into the overall profitability calculation. A profit split of 80% with no monthly fees or activation fees (Phidias) can prove more profitable than a 100% split with expensive subscriptions.

Number of accounts and scalability

For experienced traders looking to maximize their exposure, the number of simultaneous accounts is an essential criterion. Apex dominates this category with 20 accounts allowed, followed closely by Phidias with 15. This difference allows you to multiply strategies, diversify risks or simply increase the total managed capital. Topstep severely limits to 3 accounts, and FTMO to only 2. For a serious trader who wants to manage a portfolio of funded accounts, this limitation can be a dealbreaker.

Payout speed

The speed at which you receive your gains is an indicator of reliability and a non-negligible comfort factor. Phidias stands out with payouts in less than 24 hours, an almost unbeatable time in the industry. Most other prop firms require between 2 and 5 business days. FTMO can sometimes process payouts in one day, but the standard time is 1 to 5 days. Topstep and Apex are generally in the 2 to 5-day range. For traders who count on this income for their daily life, Phidias's speed is a concrete and appreciable advantage.

Available markets and platforms

A fundamental point to check before choosing: FTMO does not offer Futures. If you want to trade ES (S&P 500), NQ (Nasdaq) or YM (Dow Jones) on forward markets, you need to turn to Phidias, Topstep or Apex. These three firms use Rithmic as their main platform, an industry standard recognized for its execution speed and reliability. Topstep and Apex also offer Tradovate as an alternative. FTMO, as a Forex and CFD specialist, offers MT4, MT5 and cTrader, very popular platforms in the Forex world but unsuitable for Futures.

French-speaking support and accessibility

For French-speaking traders, the language barrier can be a real obstacle, especially in case of a technical issue or payout dispute. Phidias and FTMO both offer support in French, which greatly facilitates communication. Topstep and Apex only offer English support. Phidias, being a company with a strong French-speaking community, also has an ecosystem of resources, tutorials and support groups in French, a considerable asset for those starting in funded trading.

Reputation and reliability (Trustpilot)

Trustpilot scores give a useful indication, even if they don't tell the whole story. FTMO dominates with 4.7/5, reflecting years of market presence and a solid reputation. Apex (4.4/5) and Topstep (4.3/5) also display honorable scores. Phidias, with 3.9/5, is still relatively young on the market but rising quickly. Recent feedback is very positive, especially thanks to the support quality and payout speed. It's important to note that more recent prop firms naturally have fewer reviews, which can influence the average.

Our Verdict: Which Prop Firm to Choose?

That said, each prop firm has its audience. Apex will suit those who want a 100% profit split on their first gains and a maximum of simultaneous accounts (20). Topstep appeals with its 90% profit split and solid reputation, despite higher monthly fees. FTMO remains the absolute reference for Forex and indices traders, with the best Trustpilot rating on the market. But for Futures trading with a controlled budget and flexible conditions, Phidias is our number one recommendation.

It's important to remember that choosing a prop firm must match your trading style, budget and objectives. An experienced Forex trader will find their happiness with FTMO, while a beginner Futures scalper with a small budget will benefit enormously from the Phidias model. Take the time to evaluate your needs before committing, and don't hesitate to consult our detailed reviews for each firm.

Links to Full Reviews

Find our in-depth analyses of each prop firm to form a complete opinion before choosing.