TopstepFX Review (2023)

Is TopstepFX a scam or legit broker?

No, it is not safe to trade with TopstepFX. TopstepFX is owned and operated by TopstepFX, LLC and claims to be located in Chicago, USA.

The company does not provide much about their registration of history, therefore we can conclude that it is not registered by any industry authority. Even though the company offering and reviews about it seem to be very interesting, promising and competitive, as the company simply gives a chance to those who are good in trading but for some reason do not put their own funds into trading. The TopStepFX just provides an opportunity to trade while there is no any regulation overseeing how exactly the broker delivers their trading condition and maintain the environment. As we always say, it is not safe to trade with a non-regulated broker and unfortunately, this is the case with TopStepFX as well.

With our opinion, it all seems like the TopStepFX 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.

Conclusion

Considering the above, we highly recommend to avoid TopstepFX and select 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.