Topstep Review

Is Topstep Scam or Legit Broker?

No, it is not safe to trade with Topstep. Topstep is owned and operated by Topstep, LLC, and claims to be located in Chicago, USA. However, the broker does not provide information about their registration of history, therefore we can conclude that it does not hold any license from any authority.

• Brokers located in the USA should hold a license from the top-tier authority - NFA. Read more about NFA-registered brokers. 

What is Topstep?

The company has interesting offerings, and reviews about it seem to be very promising, and competitive, as the company simply gives a chance to those who are good at trading but for some reason do not put their own funds into trading. The Topstep provides an opportunity to trade while there is no regulation overseeing how exactly the broker delivers their trading condition and maintains the environment.

• As we always say, it is not safe to trade with a non-regulated broker and unfortunately, this is the case with Topstep as well. Not to put your investments at risk, it is essential to engage in trading with only well-regulated brokers. 
• In our opinion,  the Topstep company provides similar to a competition platform, while only a few of the traders will initially gain some money and due to its unregulated nature no one can predict further development. Of course, that also means that novice traders or those who lack experience would not find their way to gain any money and eventually will only lose time.

Overall Topstep Ranking 

Because of the regulation and safety problems we found during our research of Topstep, we do not rank positively Topstep, based on our Expert Opinion with over 10 Years of experience in Forex Trading.

• Topstep Overall Ranking is 2 out of 10 based on our testing and compared to 500 other brokers, see Our Ranking below compared to other popular and industry Leading Brokers.

Topstep Alternative Brokers

We revealed that Topstep has a lot of issues, especially in respect of its safety and customer care. Thus, here are much better Alternatives to Topstep with tight regulations and great trading conditions. We select Good Brokers and reliable options for your comparison below: 

• AvaTrade – Good Instruments and CopyTrading
• Pepperstone – Low Spreads and Competitive Trading Conditions
• XM – Wide Range of Trading Opportunities

Deposit & Withdrawal

Topstep offers multiple methods to fund their accounts, however, the most accepted ones with the broker are via credit/debit cards. 

• There is no commission fee for withdrawals with Topstep. The withdrawal fee is usually from the payment system. Besides, Topstep pays commission costs for withdrawals above  $500. 

• The withdrawal requests are processed within 7-10 business days.

Topstep Review Conclusion

Considering the above, we highly recommend avoiding Topstepand selecting a decent and licensed broker instead. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FBS and BlackBull Markets.

• Overall ranking and experience for Topstep is Negative