Exposing Topstep: Tips and Warnings for Future Traders

Despite Topstep’s promotion as a platform that stands out with its unique, funded trader programme, a more sinister story emerges. Traders are upset with Topstep, saying the company engages in misleading practices and makes it hard to go from simulated to funded. In this investigation, we will explore the accusations that bust the integrity lie of Topstep. 

Topstep's Deceptive Facade: A Closer Look

Allegedly founded over a decade ago, Topstep, a self-proclaimed prominent proprietary futures trading firm, lures traders with promises of secure funding opportunities and skill enhancement. Topstep boasts of impressive fake figures, such as more than $40 million in trader payouts since 2020 and more than 6,000 funded accounts in September. Beneath this facade lies a darker reality. Traders have raised concerns about the platform, citing delayed payout processing, ambiguous trading combinations, and a lack of transparency. The purported benefits and supportive community atmosphere crumble under the weight of alleged deceptive practices, leaving traders questioning Topstep's integrity and commitment.

Is Topstep Regulated?

BrokersView's assessment labels Topstep as an unregulated Forex broker. While Topstep asserts its online broker status in the United States, scrutiny reveals no NFA accreditation or recognition as a "retail forex exchange dealer." This absence of regulatory oversight poses a risk to investors, rendering their funds unprotected by legal safeguards. 

Clientele Feedback

Topstep faces criticism for its comparatively higher pricing. Some users express frustration over account activation costs post-evaluation. One trader recounts losing a month discovering ineligibility for payouts due to undisclosed country restrictions, highlighting ambiguity in terms. 

What Makes Topstep A Scam?

Delayed Account Updates and Pricing Concerns:

Clients express dissatisfaction over Topstep's delayed account updates despite paying $150. The disparity between the promoted 1-2 business days and the actual experience raises concerns about the platform's service reliability and transparency in pricing.

Unexpected Charges and Lack of Support:

Traders report instances of unexpected charges, such as a $149 reset fee without confirmation, raising questions about the platform's payment processes. Additionally, the inability to reinstate accidentally reset accounts and a perceived lack of support further dampen user experiences.

Allegations of Dishonesty and Poor Customer Care:

An experienced trader voices strong criticism, accusing Topstep of being a dishonest and careless trading prop firm. Claims of non-responsive customer support, unfulfilled promises, and an overall lack of accountability paint a concerning picture. The sweeping declaration of fake reviews adds another layer of skepticism, urging caution to potential users. Investors thoroughly assess the platform's reliability before engaging with Topstep.

Bottom Line

While Topstep presents a superficially enticing prospect with its Trading Combine and in-house educational tools, client feedback highlights serious concerns about transparency, unexpected charges, and customer support, suggesting fraud. Traders should carefully weigh the platform's advantages against reported issues and its unregulated states, and Brokersview strongly recommends avoiding any transactions with this broker.