Is Topstep Trader legit or a scam?

Saxio · Mar 31, 2021

boatprint said:
Yeah there's a ton of these "subscription" prop firms.
Any firm that's actually trying to make money off trading activity doesn't charge monthly subscription fees before they even start trading. There companies are more like "pay us to tell you that you can't cut it as a trader, so don't bother blowing your money trying to trade (instead pay it to us!)."

I think one piece of regulation that's needed is these firms need to be forced to disclose what % of people who pay them any kind of fees actually turn a profit on their sign up page, since it's borderline false marketing right now, since they make it seem like anybody can sign up, learn, and make it, when in reality it's probably 1-2% of people, if that, make it. Ofc they'll still bait in tons of people who think they can be that 1%. Anyone who actually has the knowledge and experience to be a long term successful trader would look at one of these prop firm's offerings and immediately see what a ripoff it is, and stay away, their target audience isn't traders, it's people fresh out of college, someone unhappy with their job and looking for an easy way out, or the type of people who buy lottery stocks hoping to get rich quick.
More...

I could not have said it better !

Log in or Sign up

Is Topstep Trader legit or a scam?

How long have you been a funded trader with Topsteptrader?

Less than 6 months

6 months - 1 year

Saxio