Prop Trading Brief — 2026-07-20

Independent news, analysis and market intelligence from ProprietaryTrading.com.

Here's what mattered most in proprietary trading this week.

Rule changes (1)

• Top Tier Trader — Changed the minimum account size tier from $5k to $7.5k with updated drawdown and payout floors for that tier. (2026-07-19) — source

Industry news (1)

• Topstep Removes Tradovate as Platform Option for Futures Traders — PropFirmMatch Topstep has officially removed Tradovate as a supported platform, a significant shift for futures traders on the platform. The move requires affected users to migrate to other supp

Term of the week

Max Drawdown — The hard ceiling on total losses for the life of an account. Breaching it terminates the account.