From my own perspective as an independent trader who prioritizes risk management and transparency, Topstep offers a mixed set of benefits and limitations when it comes to trading instruments and fees. The broker focuses exclusively on futures contracts; currently, it supports CME equity futures, forex futures, agricultural futures, energy futures, metals, and interest rate futures. I find this range is reasonably comprehensive for futures traders but may feel restrictive for those accustomed to spot forex, stocks, options, or crypto trading—none of which are available here. In terms of fee structure, one feature I do appreciate is the clear breakdown of transaction costs for popular futures products, such as the E-mini and Micro E-mini contracts. For someone like me, who is keenly aware of how quickly fees can erode profits in an active setting, the low to moderate round-turn fees—especially when using Topstep’s own platform—are competitive in the proprietary trading industry. Additionally, not having to worry about swap rates or overnight rollover fees is a plus, as swing trading isn’t permitted and all positions must be closed before the end of session. This clarity reduces hidden costs associated with holding trades overnight. However, I remain cautious due to the absence of regulatory oversight and limited transparency in some of their policies. For traders pursuing opportunities in listed futures markets—especially those comfortable with daily trading discipline—Topstep’s focused offering and fee model may fit, but careful due diligence remains essential.