Prop trading firm
Topstep for Canadians: Rules, Costs & Risks
By ForexCanada Editorial Team · Updated
Canada check
Prop 'evaluation' firms are not investment dealers and are not registered with Canadian securities regulators. You pay a fee to trade a (usually simulated) account under strict rules; payouts depend on the firm's terms and solvency. CIPF and OBSI do not apply.
- Canadian status
- Not a regulated dealer
- Canadian entity
- None — not registered in Canada
- CIPF coverage
- No
- OBSI complaints
- No Canadian ombudsman access
- Accepts Canadians
- Canadian eligibility unconfirmed
- Licences abroad
- —
- Founded
- 2012
- Headquarters
- Chicago, Illinois, USA
Our take on Topstep
Topstep is one of the original futures prop firms. Traders pay a monthly fee for the 'Trading Combine' evaluation and, if they pass, trade a funded account under daily loss and trailing drawdown rules.
Topstep has been running futures evaluations since 2012 — ancient history in the prop-firm world — and has built its own platform, TopstepX, after industry platform disruptions. Its rules centre on a daily loss limit and a trailing maximum loss. Monthly subscription pricing means the cost of repeated attempts can quietly exceed the price of a one-off challenge elsewhere.
Verdict
Established futures prop firm; subscription costs add up if you take months to pass.
What we like
- +Long history in futures prop trading
- +Education and coaching content
Watch out for
- −Monthly fees accumulate
- −Not a regulated dealer
Accounts, markets & platforms
- Platforms
- Proprietary web, NinjaTrader, TradingView
- Markets
- Futures
- Pricing
- Monthly evaluation subscription plus activation fee
- CAD / USD accounts
- — CAD | — USD
- Demo account
- Not advertised
Figures are taken from the broker's own disclosures at our last review (2026-09) and change often — always confirm on the broker's website. Spot an error? Tell us.
Verify Topstep yourself
- Look for the firm on CIRO's list of dealers it regulates.
- Search the legal entity name in the CSA National Registration Search and check it is registered in your province.
- Confirm CIPF membership in the CIPF member directory.
- Search the CSA investor alerts for the brand name and any look-alike websites.
- Make sure the account agreement you sign names the same legal entity — not an offshore affiliate.
Registered alternatives for Canadians
These firms are CIRO dealer members with CIPF-eligible accounts:
Interactive Brokers Canada
Online brokerage
Experienced, cost-sensitive traders who want forex, futures, options and global stocks in one account
Questrade
Online brokerage
Canadians who want TFSA/RRSP investing and forex/CFD trading with one Canadian firm
CMC Markets Canada
Forex & CFD broker
Traders who want the widest CFD and currency-pair range from a Canadian dealer
Topstep: frequently asked questions
Is Topstep regulated in Canada?
No. Prop trading evaluation firms are not investment dealers and are not registered with CIRO or provincial securities regulators. You are buying access to an evaluation programme, not opening a protected brokerage account.
Canadian trader reviews
Reviews are submitted by readers and moderated by our editors for relevance and abuse. They are opinions, not verified facts, and never affect our score.
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