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Is Topstep a scam? Verified complaints expose Topstep's payout denials, unfair rule changes, and massive data breach risks. BrokersView warns futures traders: Your capital and personal info are at risk. Read the truth before joining.
Topstep

Operating status: SCAM

Website: https://www.topstep.com/

Broker violations and abnormal records
  • Jul 20, 2022 BrokersView has Reviewed that Topstep is an Unregulated Forex Broker

    Topstep claims to be an online broker registered in the United States. As per the United State law, all forex investment brokers claim to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of the National Futures Association (NFA); 2) be admitted as a "retail forex exchange dealer." However, we did not find any match results to Topstep in NFA. That means Topstep is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

    Topstep claims to be an online broker registered in the United States. As per the United State law, all forex investment brokers claim to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of the National Futures Association (NFA); 2) be admitted as a "retail forex exchange dealer." However, we did not find any match results to Topstep in NFA. That means Topstep is not overseen by any regulators. Investors' funds in this broker are unsafe and cannot be protected by any law. Therefore, it is a scam.

Related Complaints

Q&A

Is it safe to trade in Topstep?

Clint
Fiji Islands
Nov 21, 2022
ANSWER Topstep is not a licensed or regulated broker even though it states offers that look good to be true. Topstep claims to be an online broker registered in the United States. As per United State law, all forex investment brokers claim to be eligible to solicit US customers in forex activities, it must: 1) be accredited as an approved Forex Dealer Member of the National Futures Association (NFA); 2) be admitted as a "retail forex exchange dealer." However, we did not find any match results to Topstep in NFA. The truth is, Topstep is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like Topstep and trade with licensed brokers.
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2 comments

Forex Trader
Total scam. Not only do they make it impossible to withdraw profits with their 50% payout cap and 20% consistency rules, but they also failed to protect user data. My sensitive information was exposed in their recent data breach. This is not how a legitimate financial entity operates. They keep selling 'resets' to desperate traders while moving the goalposts for those who actually profit. Avoid Topstep at all costs if you value your capital and identity.
Mar 18, 2026
Reply
Forex Trader
Don't be fooled by the professional branding. Topstep is designed for you to fail. After passing the Trading Combine, I faced arbitrary rule changes on my Express Funded Account. When I finally requested a payout, they flagged my 'trading style' as inconsistent and denied the funds. They are not a regulated futures broker, meaning you have zero protection. Their TopstepX platform is prone to slippage and outages during high volatility. Save your money and trade with a real regulated broker.
Mar 18, 2026
Reply
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