WikiFX

Sagot

In my experience with Topstep, the usual concept of fixed or variable spreads doesn’t directly apply. This is because Topstep operates in the futures markets rather than spot forex, and it is not a traditional broker but a proprietary trading firm. Futures contracts are traded on centralized exchanges, like CME, where spreads are determined by the order book, not the platform or Topstep itself. As a trader, when I was using Topstep’s supported platforms—whether TopstepX, NinjaTrader, or others—the bid-ask spread I encountered was set by real market liquidity and volatility. During times of heightened news or economic releases, I noticed that spreads in these futures products could widen significantly. This isn’t unique to Topstep, but rather is an inherent feature of how centralized futures markets function. Spreads are typically tight in liquid contracts during calm markets, but they may widen rapidly when the market becomes volatile, which increases trading costs and slippage risk. Critically, Topstep does not intervene or artificially fix spreads; instead, their structure means that all pricing directly reflects what’s on the futures exchange at any moment. This can be beneficial for transparency, but it also means I must be extremely cautious and prepared for fluctuating costs, especially during volatile periods. Ultimately, understanding this structure is crucial for risk management and effective trade planning.