Topstep vs Phidias

Two futures props, one decision. Here’s how Topstep and Phidias compare on the things that cost you money.

Side by side

Metric	Topstep	Phidias
Cheapest entry (true cost)	$49	$297
Profit split	90%	80% → 90% (Premium 75%→100%)
Drawdown type	Trailing intraday	Static (E2L) or EOD trailing
Max drawdown	Trailing (by size)	3%–5% (by size)
Payout frequency	On request	On-demand (Wallet); ~5–10 days
Days to payout	5 winning days · 1–3 day processing	10 days (Fundamental) · 5 (Premium) · Live daily
Min payout	$125	$500

Our take: Topstep is the cheaper way in. Match the drawdown model to how you actually trade and you're set.

12+ year operating history. Rare real-capital live tier.

Static drawdown on $25K. Gibraltar-registered. Polarized reviews.

Compare more in the comparison tool or the true-cost hub.

Is Topstep or Phidias cheaper?

On cheapest true-cost entry, Topstep comes in lower. See the table for exact figures.

Which is better, Topstep or Phidias?

It depends on your asset class and drawdown tolerance. The comparison above lays out cost, drawdown and payouts so you decide on facts.

Compared 2026-06-09. Verify current terms on each firm’s site.