Topstep is an international prop trading company registered in the USA and providing financial services since 2012. The company offers unique conditions for traders, providing the opportunity to trade on real accounts without having to invest their own funds. The main advantage of Topstep is that traders can get financing for real trading if they prove their ability to competently make transactions and manage risks on a simulated account. Trading is carried out through Equiti Capital ECN broker, which guarantees a regulated and secure trading environment.

Traders have access to trading instruments such as CME Group futures, including stocks, commodities, bonds and metals. Accounts can be opened in various currencies, including AUD, CAD, COP, GBP, JPY, EUR, MXN, RUB and USD, and the minimum deposit is only 1 USD. Topstep provides 1:100 leverage and a floating spread. All open positions are automatically closed by the broker every Friday, which reduces the risk of accumulating losses over the weekend.

The company stands out for a number of strengths. Traders do not need to invest their own funds to start trading, which reduces financial risks. Topstep offers a wide range of free training materials, including group coaching, which makes it attractive for novice traders. Additionally, a referral program is available that allows you to earn money by attracting new customers. Trading on real accounts is carried out through a regulated broker, which adds reliability.

However, there are also weaknesses. Topstep does not provide bonuses and does not offer automatic trading, which may limit opportunities for passive income. There is also no information about the availability of a license and regulatory authorities, which may raise doubts among potential customers. The support service works only on weekdays at set hours, which can be inconvenient for traders from different time zones.

Thus, Topstep is an attractive option for those who want to start trading without their own investments, but it is worth considering the limited support and lack of information about the license.

Trading conditions

Topstep is an international prop trading company that provides traders with the opportunity to trade in financial markets without investing their own funds. The company specializes in two main areas: Forex trading and futures trading. Topstep offers several types of accounts for each direction, which allows traders to choose the most suitable conditions depending on their financial capabilities and trading strategies.

Topstep provides its clients with the opportunity to open accounts for trading both Forex instruments and futures. There are three subtypes of accounts available in each of these areas, which differ in the purchasing power of the trader. This makes it possible for novice traders to choose accounts with lower financial risk, and for experienced traders to use accounts with greater opportunities for large transactions.

Before traders can start trading on a real account, they must undergo mandatory training on a simulated account. This stage serves as a kind of filter that allows the company to assess the level of professionalism and discipline of the trader. Clients who successfully complete training and demonstrate stable results get the opportunity to switch to trading on a real account funded by the company.

Topstep charges a monthly fee for using a simulated account. This motivates traders to take learning seriously and develop their skills. However, it is worth noting that when switching to a real account, traders do not need to replenish their account with their own funds — all trading operations are financed directly by the broker. This unique offer makes Topstep especially attractive to traders who are unwilling or unable to risk their money.

Trading is carried out through a number of professional trading platforms such as TSTrader, NinjaTrader, TradingView, Bookmap X-ray, CTS, DayTradr, InvestorRT, MotiveWave, MultiCharts, R|Trader Pro, Trade Navigator and Volfix.net . These platforms provide traders with a full range of opportunities to analyze markets, conduct transactions and manage risks. Regardless of whether clients trade currency pairs or futures, they can choose the platform that best suits their needs and preferences.

The maximum leverage available to Topstep clients is 1:100, which allows you to significantly increase the potential profit from transactions, although it increases the risks. It is important to note that there is no margin call level in Topstep, which usually warns the trader about the need to replenish the account when the margin decreases. Instead, the broker automatically closes all open positions every Friday at 3:45 p.m., which helps to avoid accumulating losses over the weekend.

Trading accounts in Topstep can be opened in various currencies, including AUD, CAD, COP, GBP, JPY, EUR, MXN, RUB and USD. This is convenient for traders from different countries, allowing them to avoid the additional costs of currency conversion. The minimum deposit to get started is only $1, which makes the platform accessible even for novice traders with a limited budget.

Topstep offers flexible trading conditions with a floating spread and a minimum order size of 0.01 lots. This allows traders to trade both small and large volumes, depending on their trading strategies and preferences. Trading on a real account is carried out via ECN (Electronic Communication Network), which guarantees fast execution of orders and access to the best market prices without the participation of a dealer.

Topstep actively supports its customers by offering an affiliate program that allows you to earn money by attracting new customers. However, the company does not provide PAMM accounts, contests and bonuses, which may limit opportunities for traders interested in passive income or additional incentives.

Another feature of Topstep is the lack of mobile trading. Although this may be inconvenient for traders who prefer to manage their accounts from mobile devices, the platform compensates for this disadvantage with a wide range of professional trading platforms available on PCs.

Topstep is a unique platform that offers traders the opportunity to trade in financial markets without having to invest their own funds. Mandatory training on a simulated account allows the company to select the most promising traders and provide them with financing for real trading. Despite some limitations, such as the lack of mobile trading and bonus programs, Topstep compensates for this with a high level of support, flexible trading conditions and a variety of available platforms. This makes the company an attractive choice for both beginners and experienced traders who appreciate the opportunity to trade with minimal risks and without their own investments.

Comparing Topstep with other brokers such as OANDA, Tickmill, InstaForex, Eightcap and Traddoo allows you to better understand the unique features of each company and choose the most suitable one for the specific needs of the trader. Topstep stands out among traditional brokers due to its unique trader financing model, which reduces risks and makes trading accessible even for those who do not have large capital. This platform is especially attractive for novice traders and those who want to trade without the risk of losing their own funds. While brokers such as OANDA, Tickmill, InstaForex, Eightcap and Traddoo offer their strengths in terms of a variety of tools and trading conditions, Topstep attracts with its unique model focused on the support and development of traders.

Commissions and fees

Topstep offers traders a unique opportunity to trade on real accounts without having to deposit their own funds, which makes it an attractive choice for many, especially for those who want to minimize financial risks. However, in order to gain access to a real account, traders need to go through a mandatory stage — the Trading Combine program, which is training and selection on a simulated account. This is a kind of exam that allows the company to evaluate the skills and discipline of a trader. In case of successful completion of this stage, the trader receives financing for trading on a real account.

A monthly fee is charged for participation in the Trading Combine program, which varies depending on the type of trading and the level of the program. For Forex trading, the fee is $125, $165 and $275, depending on the selected level. For futures trading on CME Group futures, the fee is slightly higher — $165, $325 and $375. These costs cover access to simulation accounts, training, and the tools needed to qualify. Although these fees may seem significant, they are offset by the lack of the need to invest large amounts of their own funds, which is especially important for novice traders or those who want to minimize their risks.

Trading on a live account in Topstep is accompanied by a transaction fee, which is $8 per standard lot. This is a relatively high figure, especially compared to other prop trading companies. For example, at Fidelcrest, the average commission is only $2 per standard lot, which makes their offers more economical for traders who actively trade in large volumes. Nevertheless, Topstep attracts traders with the opportunity to receive financing without an initial deposit, which is a serious advantage.

An important aspect of trading in Topstep is the floating spread, which depends on the volatility of a particular asset. This means that the spread can vary significantly depending on market conditions, making it difficult to predict trading costs. Traders choosing Topstep should be prepared for this and take this factor into account when planning their trades.

In addition to trading fees, Topstep also charges a withdrawal fee. If the withdrawal amount is up to $500, the commission is $50, which can be a significant expense for traders with small accounts. However, if the withdrawal amount exceeds $500, the commission is paid by the company itself, which makes larger withdrawals more profitable for the trader. This condition is especially attractive for those who plan to regularly withdraw large amounts.

One of the positive aspects of Topstep is the absence of fees for using trading platforms, quotes and other services. This distinguishes the company from many other brokers who may charge for access to platforms or for providing data. In addition, Topstep provides traders with access to several popular trading platforms such as TSTrader, NinjaTrader, TradingView and others, which allows traders to choose the most convenient platform for them.

However, despite these advantages, traders should take into account the relatively high trading commissions in Topstep. Compared to competitors such as Fidelcrest and Earn2Trade, where commissions are significantly lower, Topstep may be less profitable for active traders who make a large number of transactions. However, on the other hand, the unique financing model, in which traders do not risk their money, makes Topstep attractive for those who want to try their hand at trading without significant initial investments.

In general, Topstep offers unique conditions for traders, especially those who want to trade on real accounts without equity. However, high transaction fees and withdrawals can be a significant factor, especially for traders who are used to lower trading costs from other brokers. Nevertheless, for those who appreciate the opportunity to minimize risks and access to professional training programs, Topstep remains one of the most interesting options in the prop trading market.

Safety

Topstep, a company registered in Chicago, Illinois, USA, offers its clients the opportunity to trade on simulated accounts that reflect real market conditions. This allows traders to demonstrate their risk management skills and abilities before gaining access to real trading accounts. To trade on real accounts, Topstep cooperates with Equiti Capital broker, registered in the UK and licensed to provide financial services under number 07216039. This provides an additional level of trust and security, as transactions are carried out through a regulated broker.

Among the advantages of Topstep, it should be noted that trading on real accounts is carried out through a regulated broker, which guarantees compliance with financial market standards and regulations. However, there is also a drawback: Topstep does not provide information about the availability of its own license or whether it is regulated by any financial authority. This may raise questions for customers who prefer to work with companies that have their own license and regulation. In general, despite having an important advantage in the form of broker regulation, the lack of information about the licensing of the company itself can be a significant disadvantage for those who value transparency and official regulation.