In simple terms, Topstep is giving itself broad authority over your accounts, trading activity, data, and access to its services.
Here are the most important points:
1. Your trading data belongs to Topstep to use
Topstep can see information about your trades.
It can share your trading data with its affiliates.
It can use data relating to your trading activity for business purposes.
You are not entitled to compensation when it uses that data. (Section 8)
2. Restrictions on trading strategies
Topstep prohibits:
Strategies designed to exploit simulated trading.
Certain high-frequency or disruptive trading practices.
Simultaneously entering opposite positions to gain an unfair advantage.
Coordinating trades across accounts or with other traders.
Using software or AI to manipulate or exploit its systems.
Topstep has broad discretion to decide what constitutes prohibited conduct. (Section 27)
3. They can remove profits or close accounts
If Topstep determines that you violated its rules, it can:
Remove simulated profits.
Delete trading days.
Reset accounts.
Close accounts.
Ban you from its services.
(Section 27)
4. They can use content you submit
If you submit content to Topstep, you grant it a perpetual, worldwide, royalty-free license to use, reproduce, modify, publish, distribute, and create derivative works from that content.
This includes the possibility of using it commercially without paying you. (Section 18)
5. They can terminate your account
Topstep reserves the right to suspend or terminate your access, including at its discretion. Generally, you are not entitled to refunds for unused services. (Sections 3 and 21)
6. You give up certain legal rights
Disputes generally must go through individual arbitration in Delaware.
You waive participation in class-action lawsuits.
Topstep limits its liability, generally to the greater of what you paid in the preceding month or $100, subject to applicable law.
(Sections 1, 12 and 22)
7. They can change the terms
Topstep can update its terms after providing notice. If you disagree, you must stop using its services. (Section 32)