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ICM Brokers-Overview of Minimum Deposit, Spreads & Leverage

Topstep Spreads, leverage, minimum deposit Revealed

WikiFX | 2025-05-23 14:07

Abstract：Topstep is a U.S.-based proprietary trading firm that offers futures traders a chance to trade firm capital after passing a simulated evaluation (Trading Combine). Traders can access futures products, including currency futures, commodities, stocks, and index futures. The platform has low entry costs and supports many professional-grade trading platforms, but lack of regulation.

Topstep Review Summary
Founded	2012
Registered Country/Region	United States
Regulation	No regulation
Market Instruments	CME equity futures, forex futures, agricultural futures, energy futures, metals, interest rate futures
Demo Account	✅
Leverage	/
Spread	/
Trading Platform	TopstepX™, NinjaTrader, Quantower, Tradovate, TradingView, T4 by CTS, R\|Trader Pro (Rithmic), ATAS – Order Flow Trading Platform, MotiveWave, VolFix, Bookmap, Investor/RT by Linn Software, Jigsaw Daytradr, MultiCharts, Sierra Chart, and Trade Navigator.
Minimum Deposit	/
Customer Support	Tel: 1-888-407-1611
Customer Support	Email: support@topstep.com

Topstep Information

　　Topstep is a U.S.-based proprietary trading firm that offers futures traders a chance to trade firm capital after passing a simulated evaluation (Trading Combine). Traders can access futures products, including CME equity futures, forex futures, agricultural futures, energy futures, metals, and interest rate futures. The platform has low entry costs and supports many professional-grade trading platforms, but lack of regulation.

Pros and Cons

Pros	Cons
Various trading instruments	No regulation
Demo accounts	Lack of transparency
Supports over a dozen advanced trading platforms

Is Topstep Legit?

　　Topstep is not a legitimate broker. It is registered in the United States but currently holds no valid regulatory license from the U.S. or any international financial authority. Well-known regulatory bodies such as the FCA (UK), ASIC (Australia), and NFA (USA) do not regulate Topstep.

　　The domain topstep.com was registered on August 18, 2000, and is set to expire on August 18, 2033. The domain is in a locked status “client transfer prohibited”, which prevents it from being transferred to another registrar, ensuring some level of administrative security.

What Can I Trade on Topstep?

　　Topstep offers trading in futures contracts only, not spot trading. Traders can access futures products, including CME equity futures, forex futures, agricultural futures, energy futures, metals, interest rate futures.

Tradable Instruments	Supported
CME equity futures	✔
Forex futures	✔
Agricultural futures	✔
Energy futures	✔
Metals	✔
Interest rate futures	✔
Indices	❌
Stocks	❌
Cryptocurrencies	❌
Bonds	❌
Options	❌
ETFs	❌

Account Type

　　Topstep does not offer traditional live accounts like most brokers. Instead, it provides three tiers of evaluation accounts (Trading Combine®): $50K, $100K, and $150K buying power accounts. These are simulated accounts used to assess a traders performance before offering real capital. Once a trader passes the evaluation phase, they can earn access to an Express Funded Account.

Account Type	Live Trading	Demo Trading	Best for
$50K Combine	❌	✔	Beginners or low-risk traders
$100K Combine	❌	✔	Intermediate traders
$150K Combine	❌	✔	Experienced traders comfortable with risk
Express Funded Account	✔	❌	Traders who passed evaluation

Topstep Fees

Trading Product	NFA & Clearing Fees (Round-turn)
E-mini S&P 500 (ES)	$2.80
Micro E-mini S&P (MES)	$0.74
E-mini NASDAQ 100 (NQ)	$2.80
Micro E-mini NASDAQ 100 (MNQ)	$0.74

　　Topsteps trading fees are low to moderate compared to industry standards, especially when using its own platform, TopstepX.

　　Swap Rates

　　Topstep does not charge swap rates or overnight rollover fees, because all trading must be done during regular trading hours. Swing trading is not permitted, positions must be closed daily.

　　Non-Trading Fees

Non-Trading Fees	Details
Deposit Fee	❌
Withdrawal Fee	❌
Inactivity Fee	Not mentioned

Trading Platform

Trading Platform	Supported	Available Devices	Suitable for
TopstepX	✔	Mobile, Mac	Beginner to intermediate
NinjaTrader	✔	Desktop	Experienced
Quantower	✔	Desktop	Experienced
Tradovate	✔	Mobile	Beginner-friendly
TradingView	✔	Mac	Chart-focused traders
T4	✔	Mobile	Basic futures traders
R\|Trader Pro	✔	Mobile	Pro traders
ATAS OrderFlow Trading	✔	Desktop	Order flow traders
MotiveWave	✔	Mobile, Mac	Technical analysts
VolFix	✔	Mobile, Mac	Volume traders
Bookmap	✔	Mac	Advanced visualization
Investor/RT	✔	–	Professional analysis
Jigsaw Daytradr	✔	–	Scalpers
MultiCharts	✔	–	Quantitative traders
Sierra Chart	✔	–	Custom strategy users
Trade Navigator	✔	–	Charting professionals

Deposit and Withdrawal

　　Topstep does not charge deposit fees. However, some withdrawal methods do incur a fee. The minimum withdrawal amount is $125.

Deposit Options

Deposit Options	Deposit Fees	Deposit Time
Visa	❌	Instant
Mastercard
American Express
Discover
PayPal (old dashboard only)

Withdrawal Options

Withdrawal Options	Minimum Withdrawal	Withdrawal Fees	Withdrawal Time
Wise	$125	$20	1–3 business days
ACH		$20	1–3 business days
Wire/SWIFT		Not mentioned	3–5 business days
International Wire/SWIFT		Not mentioned	5–10 business days