Topstep is the industry veteran (founded 2012) with $102M+ paid and a 90/10 profit split on Express accounts. Bulenox is the budget option — cheaper evaluations, 100% profit on the first $10K, weekly payouts, and explicitly copier-friendly rules. Topstep suits traders who value brand stability. Bulenox suits traders who want the cheapest entry and weekly cash flow. Both support NinjaTrader through Rithmic.
Topstep is the grandfather of futures prop firms, operating since 2012 with over $102 million paid to traders. Bulenox launched in 2022 as a budget-friendly alternative with aggressive pricing and explicitly copier-friendly rules. Below is a complete comparison for traders deciding between the two in 2026.
| Category | Topstep | Bulenox |
|---|---|---|
| Founded | 2012 (Chicago, IL) | 2022 (Wilmington, DE) |
| Trustpilot | 3.4/5 (declining sentiment) | 4.6/5 (1,500+ reviews) |
| Total paid out | $102M+ | Not publicly disclosed |
| 50K eval cost | $99/mo (Standard) or $159/mo (No Fee Path) | ~$115/mo (often $30–$50 with promo) |
| Profit target (50K) | $3,000 | $3,000 |
| Max drawdown (50K) | $2,000 (trailing) | $2,500 (trailing or EOD option) |
| Daily loss limit | ~$1,000 (4%) | Yes (pauses trading, not a violation) |
| Min trading days | No minimum | 5 |
| Drawdown type | Trailing during Combine, EOD on Express | Intraday trailing OR EOD (choice at purchase) |
| Consistency rule | 40% | 40% |
| Profit split | 90/10 | 100% on first $10K, then 90/10 |
| Payout frequency | ~Every 2 weeks | Weekly (every Wednesday) |
| Activation fee | $149 (Standard) / $0 (No Fee Path) | $143–$898 (varies by account) |
| Max accounts | Multiple (not explicitly capped) | Up to 11 (3 active simultaneously) |
| Copier/bot allowed | Yes (with restrictions) | Yes (explicitly permitted) |
Bulenox wins the pricing battle decisively. A 50K evaluation starts at roughly $115/month and promotional pricing frequently drops it to $30–$50. Topstep's 50K Standard Path costs $99/month, and the No Fee Path costs $159/month.
Activation fees are mixed. Topstep Standard charges $149. Topstep No Fee Path has $0 activation but higher monthly cost. Bulenox charges one-time activation fees of $143–$898 depending on account size and drawdown type — potentially higher than Topstep for larger accounts.
Bulenox's activation fee for 100K and 150K accounts can reach $500–$898. Factor this into your total cost before choosing a larger Bulenox account.
Topstep uses trailing drawdown during the Trading Combine. Once you pass and move to an Express Funded Account, the drawdown switches to end-of-day — a significant improvement. This EOD funded-phase drawdown is one of Topstep's strongest features.
Bulenox lets you choose your drawdown type at purchase: intraday trailing or EOD with scaling. The choice is locked in and applies through both evaluation and funded phases. Bulenox's 50K drawdown is $2,500 versus Topstep's $2,000, giving more room.
Bulenox explicitly permits copiers, bots, and automated algorithms. This is stated clearly in their rules. You can run any copier, EA, or algo without worrying about a rule violation.
Topstep allows copiers but with restrictions. Exploitative trading strategies, latency abuse, and certain automated behaviors may trigger review. The rules are more subjective.
If running a trade copier is central to your strategy, Bulenox's explicit permission gives peace of mind. Topstep's more subjective rules create a small but real risk of review.
Bulenox pays weekly every Wednesday after 10 trading days and meeting the 40% consistency rule. The first $10K in profit is paid at 100%, then 90/10 thereafter.
Topstep pays roughly every two weeks on Express accounts. The split is a flat 90/10 with no 100% initial window. Topstep uses a stepped payout structure for the first few withdrawals.
Operating since 2012 with $102M+ paid. No other futures prop firm has a longer track record.
Express accounts use EOD drawdown in the funded phase — maximum intraday flexibility after passing.
90/10 split from dollar one. Predictable and consistent for long-term planning.
Evaluations at $30–$50 with promotions are the cheapest entry point in the futures prop firm market.
Explicitly permits copiers, bots, and automated trading. No ambiguity. No risk of review.
Weekly payouts every Wednesday plus 100% on the first $10K. Fastest cash flow in the industry.
Topstep is the safe bet — longest track record, EOD funded drawdown, predictable 90/10 split. Bulenox is the budget bet — cheapest evaluations, weekly payouts, 100% on the first $10K, and the most copier-friendly rules in the industry. Many traders run both simultaneously with a trade copier handling replication across all accounts.