Overall Score48 / 100The Wikilix trust rating of Topstep, out of 100, built from the five factors below.The licences it claims have not been checked on any official register.Regulation41%Identity39%Client terms48%Trading offer76%Service38%Score last calculated 2026/10/29
Trading Conditions
Min Deposit:
USD165
Max Leverage:
N/A
Account Types
Prop
Funded
Funded
+2 more
Prop
Proprietary
Official website
topstep.com
Online · checked Sep 10, 2026
Funding Methods
8 methods
Wise
bank transfer
Up to 1 day
Fee:Not recorded
Fee:$20
ACH
bank transfer
Up to 1 day
Fee:Not recorded
Fee:$20
Wire/SWIFT
wire transfer
Up to 3 days
Fee:Not recorded
Fee:$20
Visa
credit card
Instant
Fee:Not recorded
Fee:Not recorded
Mastercard
credit card
Instant
Fee:Not recorded
Fee:Not recorded
American Express
credit card
Instant
Fee:Not recorded
Fee:Not recorded
Discover
credit card
Instant
Fee:Not recorded
Fee:Not recorded
PayPal
e wallet
Instant
Fee:Not recorded
Fee:Not recorded
Trust rating
High risk35 to 49. Serious gaps in regulation, client terms or conduct; the record points to real risk for a deposit.Why: The licences it claims have not been checked on any official register.
48 out of 100 · 60% checkedThe share of the record we could verify. What we could not check counts as unknown and pulls the score toward the middle, never down.· Provisional
Do not trust
High risk
Fair
Good
Excellent
The licences it claims have not been checked on any official register.
We checked Topstep on 2026-10-29 across its regulation, company record, client terms, trading offer and service, and could verify 60% of its record. It claims 1 licence on its site, but none has been checked on an official register yet. The score of 48 is what the checked record adds up to; nothing held it down. The rating stays provisional until a claimed licence is checked on an official register. What would move the score: licence held by the onboarding entity, verified age, transparency. No investigation has been published yet, so complaints and reputation are unknown. Its client terms have not been reviewed yet.
Score last calculated 2026/10/29
Regulation
Is someone watching them?
41out of 100
Poor
Counts for 35% of the score93% checked
What we checked
Best licence in force50
NFA 0567079 claimed, not checked on the register · Dec 20, 2025
Regulator protections40
NFA: 4 of 5 protections (claim, unchecked) · Dec 20, 2025
Licence held by the onboarding entity50
No licence checked on a register yet · Dec 20, 2025
Extra licences in force0
1 claimed licence(s), none checked · Dec 20, 2025
What this measures
Whether a financial authority supervises this broker: the licences it holds, whether we verified them on the official register, how strong that regulator is and what protection it gives clients. Worth 35 points of 100.
Identity
Who is behind it, and for how long?
39out of 100
Poor
Counts for 15% of the score60% checked
What we checked
Registry-verified entity0
No registered entity recorded
Verified ageNot checked yet
No verified age
Transparency25
1 of 4 transparency checks met (entity, address, complaints, ownership)
Site integrity100
Website reachable and not redirecting · Sep 10, 2026Source
What this measures
Who is behind it and for how long: a company registration we verified, years of verified history, how openly it names its entity, address and owners, and whether its website is intact. Worth 15 points.
Client terms
Are the client terms fair?
48out of 100
Poor
Counts for 15% of the score13% checked
What we checked
Policy riskNot checked yet
No published policy review
Critical clausesNot checked yet
No published policy review
Withdrawal rails31
8 rail(s): 0 fee-free of 3 known, 5 instant of 8 known, minimum unknown · Dec 20, 2025
Language parityNot checked yet
No published policy review
What this measures
How fair the client agreement is: the risk found in our policy review, the number of critical clauses, withdrawal rules, and whether the terms say the same in every language. Worth 15 points.
Trading offer
What does trading cost, and is it disclosed?
76out of 100
Good
Counts for 20% of the score55% checked
What we checked
All-in EURUSD costNot checked yet
No EURUSD spread known
Pricing disclosed per account type100
15 of 15 pricing cells filled across 5 account type(s) · Dec 20, 2025
Instrument breadthNot checked yet
No instrument counts known
Platforms100
2 platform(s) (NinjaTrader, TradingView), web · Dec 20, 2025
Leverage vs regulated cap100
Maximum leverage 1:1 · Dec 20, 2025
Minimum deposit75
Minimum deposit $165 · Dec 20, 2025
What this measures
What trading costs and how clearly it is disclosed: pricing per account type, the all-in cost of EURUSD, instruments, platforms, leverage against regulated limits and the minimum deposit. Worth 20 points.
Service
How do they treat clients?
38out of 100
Poor
Counts for 15% of the score35% checked
What we checked
Fund-integrity complaintsNot checked yet
No published scam check
Support channels17
1 of 6 support checks (phone, email, 24/7 chat, 2+ languages, messenger, complaints email) · Dec 20, 2025
Reputation footprintNot checked yet
No published scam check
WIKILIX communityNot checked yet
0 approved review(s), fewer than 10
What this measures
How clients are treated: support channels, complaints about withdrawals and reputation from our investigation, and reviews by WIKILIX members. Worth 15 points.
What Wikilix has recorded about Topstep: its history, the licences it holds, its trading conditions and its fees.
Introduction
Topstep represents a revolutionary brokerage firm and a groundbreaking model in the way traders access funds and upgrade their skills. With more than a decade of expertise, Topstep has created a solid foundation and a reliable platform that not only helps traders access funds but also provides assistance through training, analysis, and community resources.
As a future trader who wishes to demonstrate your expertise or perhaps an expert who seeks a roadmap for lucrative trading, Topstep has a unique trader funding program that enables future traders globally. This article will explore the offerings, trading terms, regulatory environment, and user experience that make Topstep stand out in the finance industry.
Background and History
Topstep is known as the pioneer in the industry for its funded trader program and has been using this innovative strategy for more than 12 years now. The aim of the company is based on searching for talented traders and offering them the funds required forutures market trading without using their own money. In fact, the company has given out many million-dollar payouts to traders from across the globe.
Though some details like the company’s founding year, founders, and base of operations are not provided on the Topstep website, the company has managed to build its platform to the point where it supports more than 170,000 traders. This shows that the company puts much effort into educating and using technology to promote successful traders.
Features and Services
The core service that Topstep provides to traders is the Trading Combine®, which is an evaluation tool that assists traders in showcasing and refining their skills as traders. With the Trading Combine®, traders are able to access the fully funded accounts within two days upon meeting the requirements. Indeed, the Trading Combine® focuses on teaching traders to be consistent in the markets.
After that, the traders can get access to the Express Funded Accounts as well as the Live Funded Accounts, which allow traders to place up to $150,000 in trades. This starting balance is the highest in the trade market.
Special Features and Facilitation
Topstep has a number of unique attributes that improve trading processes:
• Daily payments after registering five successive successful days with net profits above $150
• Bonuses and scaling plans based on performance to incentivize success
• A risk management process whereby traders can lower risk limits as they level up.
• Full coaching program via TopstepTV, Discord community, and group coaching
• Educational courses and dedicated Trader Support for ongoing support
Worth noting is the fact that Topstep is a platform that favors futures trade only, advising FX Futures for currency market enthusiasts. Copy trading is also supported on this platform.
Topstep employs Topstep Brokerage LLC as a Futures Commission Merchant (FCM) registered with the regulatory authorities. This registration enables Topstep to abide by all regulatory requirements set forth under futures market regulations in the United States. Traders can check the registration of Topstep on websites such as SmartCheck.gov or Commodity Futures Trading Commission (CFTC).
However, specific license number details, regulatory jurisdictions, and public disclosures are not posted on the website, which reflects some lack of transparency regarding this matter.
Regulator Label Number
Commodity Futures Trading Commission (CFTC) Registered as Futures Commission Merchant (FCM) Active (Verified with Smart
Market Conditions and Platform Technology
Trading Conditions
Trading terms of Topstep are designed specifically for the futures market, focusing on responsible risk management and consistency. Traders are expected to reach profit targets without exceeding the Maximum Loss Limit or the Daily Loss Limit, which vary depending on the account balance. Traders with balances of $100,000 or more are eligible for higher contract limits for more significant strategies.
Trading times are synchronized with normal futures market times, with live coverage of the London session through to the close of the overnight session provided by TopstepTV seven days from Sunday through Friday. There is also daily flattening of positions by the Trade Desk.
Technological Plattform
The main trading floor, TopstepX™, is built by traders, for traders. This platform also contains expert risk management functionalities including 'Account Lockout, which automatically 'locks a trader's account when they reach profit targets or have a tough trading day, 'and 'The Tilt, which limits trades on a daily and weekly basis to curb emotional trading.
TopstepX has TradingView charts and analytic tools, as well as a novel real-time sentiment indicator that focuses on major markets including the S&P 500, NASDAQ, Crude Oil, and Gold. The website offers copy trading and is fully compatible with third-party programs including Quantower. Although the website is to be accessed from any smartphone or tablet, there are no other automated bots or algorithm-based trade tools at this time; feedback is being utilized to develop further improvements.
Feature
Markets Supported Only Futures markets (including Forex Futures) Forex Spot markets not permitted
Account Buying Power Up to $150,000 One of the largest in the industry
Risk Management Tools Account Lockout,
Trading Hours Sunday to Friday, same as futures markets TopstepTV Live Streaming Available
Platform Integration Support for TradingView charts and Quantower Support for
Leverage, Spreads, Commissions No leverage and spread mentioned, trading free of commissions NFA + Clearing fees apply per trade
fee structure
The commission on trading can be waived by Topstep, but the trader must be able to find this information on the TopstepX platform, since there are mandatory regulatory and clearing fees involved that go with each trade. These costs can be viewed in the ‘Trades’ tab. There is also a data fee that applies if the trader chooses to view data from one exchange, with the CME data set at $133.
There are no direct fees associated with deposits, withdrawals, or inactivity mentioned on the website of Topstep, which can be attributed to a lack of information on this matter.
Fee Category
Commission Commission-free NFA + Clearing fees applied per transaction
Data Fee Monthly fee (~$133 for CME) Fees for additional exchanges maybe incurred separately
Deposit Fee None specified Limited information available
Withdrawal Fee none stated Limited information available
Inactivity Fee None specified Limited information available
User Experience and Market Reputation
Topstep has an amazing trade community of 170,000+ traders, primarily bound via the Discord server and group coaching sessions on a daily basis. Learning resources such as TopstepTV and personalized guidance from Coach T™ are provided to traders to learn and improve from the insights shared in real time.
Traders enjoy benefits such as rapid daily payments, Funded Trader Certificates, and the facility to reset accounts with rebills. Encouragement for continuous improvement and motivation is enjoyed. The website does not have the facility to aggregate customer reviews and ratings. However, the company’s record of payment history and support network are factors that reflect favorably upon the company.
Recent Developments
Topstep is constantly improving its offering by upgrading its platform and services. The improvements include short wait times in the Trading Combine, giving traders fast access to the-funded accounts. The Trade Report platform has improved data delivery, and traders can now get the report data any weekday between 5-6 PM CT.
Technological upgrades on TopstepX include the implementation of copy trade functions, charting capabilities on TradingView, and live market sentiment available on the platform. Live streaming on TopstepTV operates from Sunday through Friday, providing non-stop market action. While market bots for automated trade implementation are still unavailable on the platform, the service encourages customer feedback on new feature development.
Conclusion
Topstep is a leading breakthrough in the futures trading world with a full service-funded trader program offering access to money, education, as well as a trading community. Its attention to risk management and performance as well as trader development makes them quite distinct from traditional futures brokers and funded programs.
Although there are a few specifics about regulation and fees that are not available, the openness about payouts, the cutting-edge technology, as well as the sheer number of traders, make Topstep an attractive alternative for future traders who want to advance their trading skills into trading larger sums. Looking forward, the company continues with their efforts of inspiring future traders from across the world with the change that technology can bring about.
Topstep is listed with a tier-1 or tier-2 licence that we have not yet checked against the regulator's register. An unchecked licence is not a finding either way.
0 of 1 checked
Licences on recordEvery licence or registration recorded for this broker, whether the broker claims it or our check found it.
1
Confirmed on registerLicences we located on the issuing regulator's own public register, with a screenshot taken at the time.
0
Tier 1 or 2Licences from tier-1 or tier-2 authorities (FCA, ASIC, CySEC and peers), the strongest client protection. A registration we could not confirm as a licence is not counted.
1
OffshoreLicences from offshore registers, which typically carry no compensation scheme and lighter oversight.
0
WIKILIX
Licence intelligence
The only licence on file
Licence Verification Record
National Futures Association0567079
Recorded from the firm's own disclosure. Not yet checked against the register.
Jurisdiction
United States
Authority strength
Tier 1
Licence type
Dealing in futures contracts
Not yet checked on the register
Client protection under this licence
Compensation schemeUp to USD 500000 (SIPC)
Client money kept separate
Complaints routeNFA Arbitration
Maximum leverage1:47
These are the rules NFA sets for the firms it licenses. They are not a statement about how Topstep applies them, or about which of its companies would hold your account.
A licence record describes what an authority published. It is not an endorsement, and Wikilix does not issue authorisations.
WiseBank TransferThe $20 processing fee is explicitly stated for ACH and Wire on the new dashboard; community sources suggest Wise may also have the $20 fee but official confirmation is recommended. Processing times are estimates and may be delayed by compliance or banking processes.
—Not recorded
USD 20
—Not recorded
—Not recorded/—Not recorded
Up to 1 day
ACHBank TransferA $20 processing fee applies on the new dashboard for ACH payout requests. Payout eligibility rules apply including winning-day requirements and limits such as up to 50% of account balance per request.
—Not recorded
USD 20
—Not recorded
—Not recorded/—Not recorded
Up to 1 day
Wire/SWIFTWire TransferA $20 processing fee applies on the new dashboard for Wire payout requests. Processing times are estimates and may be extended by compliance or banking delays. Eligibility rules apply including payout limits and winning-day requirements.
NinjaTrader is a professional trading platform for futures, forex, and stocks, offering advanced charting, market analysis, and automated trading strategies.
TradingView is a web-based charting and trading platform offering advanced analytics, social trading, and integration with multiple brokers for seamless trading.
Runs on
Web Trader
Details
Social channels
Social Presence
5 official channels on record.
5 channels
Peer comparison
Brokers worth comparing
4 other brokers on the record share what Topstep offers — its country, regulator, account types or platforms — set beside it on the same measures.
Topstep provides customer support via live chat during business hours and a phone number for international callers. Support is offered in English, and the broker maintains active social media channels for additional contact.
Topstep requires a minimum deposit of 165 USD. Withdrawals via bank transfers such as ACH, Wire/SWIFT, and Wise incur a fixed fee of 20 USD, with processing times ranging from 1 to 10 business days depending on the method.
TopstepX™ : Topstep’s own trading platform (with TradingView‑powered charts and built‑in tools) is now the primary supported platform for new funded accounts; previous support for platforms like NinjaTrader, Tradovate, Quantower, etc., is being phased out with emphasis on TopstepX.
Topstep LLC is not regulated by any financial authority. Users should consider this lack of regulation when evaluating the safety and compliance of the broker.
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