WikiFX

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From my own research and experience as a trader, understanding a broker’s spread structure is fundamental—especially during times of major market volatility. However, with TopstepFX, I ran into a lack of transparency on this front. Unlike standard forex brokers, which typically spell out whether they offer fixed or variable spreads and provide data on how those spreads might widen during news events, TopstepFX doesn’t disclose this information clearly. This was my first red flag. TopstepFX positions itself more as a proprietary futures evaluation and funding firm than as a traditional brokerage; it uses its own trading platform—TopstepX—and offers simulated and funded accounts strictly for futures trading. In my evaluation, I noticed there is absolutely no accessible info about their costs, spread type, or fee structure. Without regulatory oversight or detailed disclosures, I felt—and still feel—unable to independently verify how their spreads react during periods of heightened volatility. Based on my cautious approach, if a broker or prop trading firm can't outline how spreads behave during fast-moving markets or whether these spreads are fixed or floating, it raises real concerns about pricing transparency and order execution. When trading live markets, I've learned that a lack of clear details—especially for something as crucial as spreads—requires extra caution. For me, the uncertainty itself is a risk not worth taking without serious due diligence.