Head-to-head
Hudson River Trading vs Topstep
A direct, side-by-side comparison of Hudson River Trading and Topstep — profit splits, evaluation fees, payout cadence, supported assets, and trading rules. Data pulled live from our firm directory.
Quick verdict
Hudson River Trading is best for
traders avoiding evaluation hurdles; swing traders holding overnight.
Full Hudson River Trading profile →Quick verdict
Topstep is best for
traders prioritizing profit share (90% vs 50%).
Full Topstep profile →Cost & compensation
Cost and compensation path
Published fees and payout timing apply to trader-paid funding programs. Firm-capital and institutional paths are shown separately because their economics usually depend on hiring, allocation, salary, bonus, or profit-sharing terms.
Topstep
estimateApprox. total
$98
to reach first payout eligibility
Approx. time
15days
from sign-up to first eligible request
- Start cost
- $49
- Monthly fee
- $49/mo
How we estimated this
- Evaluation path: lowest published one-time evaluation fee.
- Adds ~10 calendar days for evaluation completion (most firms require ≥5 minimum trading days).
- Monthly fee ($49) × 1 month added to startup cost.
- Source — eval fee: $49–$149/month (Trading Combine); monthly: Combine $49–$149; Funded $135/mo flat after first payout; first payout: 5 winning days, $0 trailing drawdown breach.
Hudson River Trading
Firm CapitalNot applicable for this model
This is a firm-capital or hiring-based trading path, not a trader-paid funding program. Compensation is typically handled through salary, bonus, draw, allocation, or profit-sharing arrangements rather than a published evaluation fee and payout schedule.
Trade-offs
Where each firm is weaker
No firm wins on every axis. These are the most meaningful drawbacks of each option — derived from the same structured fields shown in the table, never invented.
Hudson River Trading trade-offs
Lower profit split
Pays 50% versus 90% — 40 points less of every funded dollar.
Topstep trade-offs
No overnight holds
Closes positions intraday. Hudson River Trading allows overnight holds.
Decision guide
Best for your trader type
- Highest profit share
90% vs 50%
- Fastest to funded
No mandatory evaluation.
- Biggest scaling ceiling
Up to $150,000.
- Swing & overnight
Permits holding positions overnight.
- Fastest payouts
Weekly (after 5 profitable days) payouts.
| Attribute | Hudson River Trading Firm Capital · est. 2002 | Topstep Evaluation Based · est. 2012 |
|---|---|---|
| Cost | ||
| Evaluation fee | — | $49–$149/month (Trading Combine) |
| Monthly fee | — | Combine $49–$149; Funded $135/mo flat after first payout |
| Evaluation required | No | Yes |
| Instant funding | No | No |
| Capital | ||
| Profit split | 50% | 90% |
| Max allocation | Institutional only | $150,000 |
| Account sizes | Institutional only | $50K, $100K, $150K |
| Scaling | — | Scale via larger Combine accounts; no automatic in-account scaling. Up to 5 funded accounts. |
| Payouts | ||
| Frequency | Annual bonus | Weekly (after 5 profitable days) |
| First payout | — | 5 winning days, $0 trailing drawdown breach |
| Assets | ||
| Futures | Yes | Yes |
| Stocks | Yes | No |
| Options | Yes | No |
| Forex | Yes | No |
| Crypto | Yes | No |
| Trading rules | ||
| News trading | Yes | Yes |
| Overnight holding | Yes | No |
| Weekend holding | Yes | No |
| Copy trading | No | No |
| Technology | ||
| Platforms | Proprietary | TSTrader, NinjaTrader, TradingView, Quantower, Tradovate |
| Data feed | — | CME Group (real-time included) |
| Company | ||
| Headquarters | New York, USA | Chicago, USA |
About Hudson River Trading
Quantitative trading firm responsible for roughly 5% of US equity volume. Builds mathematical models that trade across hundreds of venues worldwide using its own capital.
Full Hudson River Trading profile →Trust & stability
Reputation and rule-change activity
Two added decision signals: a weighted reputation score from independent review sources, and a 90-day view of structural rule-change activity where monitored sources are available.
Reputation
canonical- Sources used
- 1
- Confidence
- medium
Weighted blend of independent trader-review sources. See methodology.
Rule Stability
last 90dWe do not currently have enough monitored public rule sources for this firm to report rule-change activity honestly.
Reputation
canonical- Sources used
- 1
- Confidence
- medium
Weighted blend of independent trader-review sources. See methodology.
Rule Stability
last 90d- Last change
- —
- Type
- —
- Sources monitored
- —
- Status
- No changes detected in monitored sources
Weekly diff of the firm's published rule pages (terms, rules, FAQ, legal). "No changes detected" only means none of the monitored monitored sources changed — other surfaces (Discord, email, dashboards) are not covered. "Limited" or "unavailable" means our monitor cannot reach enough sources to make an honest call.
Frequently asked
Common questions
- Which has a higher profit split — Hudson River Trading or Topstep?
- Hudson River Trading pays 50%; Topstep pays 90% of trader profits once funded. Topstep pays a higher share to the trader.
- Is Hudson River Trading cheaper to start than Topstep?
- Hudson River Trading: evaluation pricing varies. Topstep: evaluation from $49–$149/month (Trading Combine).
- Which pays out faster — Hudson River Trading or Topstep?
- Hudson River Trading payouts: Annual bonus. Topstep payouts: Weekly (after 5 profitable days). First-payout eligibility: Hudson River Trading — n/a; Topstep — 5 winning days, $0 trailing drawdown breach.
- What's the maximum allocation at Hudson River Trading vs Topstep?
- Hudson River Trading scales up to Institutional only. Topstep scales up to $150,000.
- Can I trade news at Hudson River Trading or Topstep?
- Hudson River Trading: permits news trading. Topstep: permits news trading.
- Can I hold positions overnight at Hudson River Trading or Topstep?
- Hudson River Trading: allows overnight holds. Topstep: does not allow overnight holds.
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