How do Payouts Work?

1. What is the payout structure? 

Once you are eligible to request a payout, you enter a payout cycle where you have a minimum and maximum amount that you can withdraw (until 4th payout cycle) while you are within the payout cycle. This means you can pay yourself as little as $100 daily, or as much as you want, until you withdraw the maximum amount allowed based on your account size and the payout cycle.

2. What are the requirements to qualify for each payout cycle?

To be eligible to request a payout from an Elite Sim-Funded account, all three criteria below must be completed.

• Safety Net
  • Elite Sim-Funded traders must earn realized profits equal to account max drawdown + $100 to permanently remove the max drawdown (and daily loss limit).
    • Once safety net is achieved, initial account starting balance + $100 becomes your minimum allowable balance for the Elite Sim-Funded account.
  • Between payout cycles one through three, Elite Sim-Funded traders cannot withdraw realized profits from the safety net (account max drawdown + $100).
    • If a trade (open or closed) causes your account to go below the minimum allowable balance (initial account starting balance + $100), the account will be closed; the only exception is Static accounts. Please read the following page for more information.
• Active Trading Days
  • To ensure that days you trade meaningfully contribute to Elite Sim-Funded account profitability, two criteria below must be met to receive credit for an active trading day. If these objectives are not met, you simply continue trading until you achieve them. Although you would not receive credit for the Active Trading day, your P&L would count. 
    • A minimum of two-hundred ($200) dollars in realized profit is required.
      • If you have one of the Elite Sim-Funded accounts listed below, a minimum of one-hundred ($100) dollars in realized profit is required.
        • 10K 1 Step, 25K 1 Step, 25K EOD, or 100K Static
    • Realized profit must equal at least twenty-three (23%) percent of the best Active Trading Day P&L.
      • Any new best Active Trading day P&L will be applied to trading days that follow the date of the higher best Active Trading day P&L. 

• A new payout cycle begins after you have acquired enough separate active trading days: 
  • 1st Payout Cycle - 15 active trading days
  • 2nd Payout Cycle - 15 additional active trading days
  • 3rd Payout Cycle & beyond - 10 additional active trading days
• A payout cycle ends once you have taken a withdrawal and you trade the required amount of additional active trading days for the next payout cycle to begin.
  • Note for clarification: the payout cycles apply from the time you are eligible and request your first withdrawal. Elite Sim-Funded traders cannot bypass payout cycles one through three and go directly to the fourth payout cycle by acquiring enough active trading days.

• 40% Consistency Rule
  • For Elite Sim-Funded accounts only, at the time of any payout request, your most profitable active trading day cannot exceed forty (40%) percent of the total accumulated profit, including withdrawals.
    
    • (Best Active Trading Day P&L / Total P&L) * 100 = % of P&L
    • This policy does not apply to accounts purchased or activated on or after August 1, 2024.

3. What are the steps to request a payout?

• Once you have met the safety net, active trading days, and 40% consistency rule (if applicable) requirements for a payout cycle, please read the following page to learn how to request a payout.
• Prior to receiving approval for your payout request, your Elite Sim-Funded account's trading activity will be audited to ensure compliance with our Terms of Service.
• Any trading activity that occurs within the payout request window will not receive credit towards your active trading day total. After receiving email confirmation from the Payroll team that your payout request has been approved, denied, or delayed, you will need to wait until the following session to resume trading and for an Active Trading Day to be credited. 

4. What is the minimum amount I can withdraw?

• You can withdraw as little as $100 each day once you are in a payout cycle until you reach the maximum amount based on your account size and payout cycle.

5. When can I expect my payout to be approved and processed?

• You can expect payout approval to occur DAILY Monday through Friday, beginning at 3 PM EST (excludes holidays). Read below for payout processing time:
  • For Elite Sim-Funded accounts, payouts are processed weekly on Wednesdays.
    • The cut-off time for approved payout requests that are to be processed on Wednesday is 5 PM EST on Tuesday. Any requests approved after 5 PM EST Tuesday will be processed the following Wednesday.
  • For Live Elite accounts, payouts are processed daily. 
• To release your payout funds, you must first complete the KYC process. Once funds are released, you can determine how and where the funds are sent; allow up to several business days for the payout to settle in your bank account.
• You no longer have to wait an entire month to receive your next payout!

6. What if I do not withdraw the entire MAX amount during a payout cycle?

• Once the trading requirements for the next payout cycle are completed, any remaining payout amount from the previous payout cycle MAX will not carry over to the next payout cycle. This means that if you could withdraw a max of $2,000 for payout cycle #1 and only withdrew $1,500, the $500 realized profit remains in your account, but the payout cycle #2 maximum amount remains the same; the $500 does not increase the max withdrawal limit for payout cycle #2.

7. What is my profit split?

• Elite Sim-Funded traders will receive 100% of their first $12,500 realized profit withdrawn and then 90% of any payout amount after that. This applies per trader, not per account.

8. How are taxes handled?

• Elite Sim-Funded traders are paid as independent contractors.
• United States citizens are required to complete a W-9 form. A current mailing address must be maintained in order to receive an annual 1099-NEC form based upon total payout amounts withdrawn.
• Please visit a local qualified tax professional for any questions you may have.