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As an independent trader with significant experience evaluating brokers, I want to be transparent about my findings regarding Topstep’s cost structure—especially for something as crucial as the typical spread for EUR/USD. Topstep does not actually offer traditional spot forex trading or standard accounts like most forex brokers. Instead, its entire business is focused on futures contracts, including CME-listed forex futures. This means there is no direct EUR/USD “spread” you’d encounter in a standard retail forex broker setup; instead, trading costs are determined by the bid-ask spread in CME’s forex futures and the commission or round-turn fees Topstep charges. In my personal use and review, Topstep’s fee structure for its primary contracts—like E-mini S&P 500—was well-documented, but there was no specific spread information for EUR/USD because it simply isn’t traded as a spot pair here. For any prospective trader, particularly those coming from a forex background, it’s vital to understand that all forex exposure on Topstep is via regulated futures markets, where spreads fluctuate based on market liquidity and volatility, determined by the exchange rather than the proprietary platform. Given the lack of classic spread disclosure and no regulation of the broker itself, I exercise significant caution. Before considering Topstep, I believe traders should have a clear understanding of futures market mechanics and weigh the risks carefully, especially since traditional forex trading metrics like fixed or variable EUR/USD spreads simply do not apply.