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Topstep

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Operating status: SCAM

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

Broker violations and abnormal records
  • 2022-07-20 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
2022-11-21
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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FX trading is of high risk and may not be suitable for all investors. Leverage will create additional risks and loss. Before trading, please carefully consider your investment objectives, experience level and risk tolerance. You may lose part or all of your initial investment; do not invest money that you cannot afford. Educate yourself about the risks associated with FX trading. If you have any questions, please consult an independent financial or tax advisor. Any data and information are provided "as is" and only for information purpose, not for trading or recommendations. Past performance does not predict future results.

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