Ready to request a payout? SETUP YOUR PAYOUT METHOD: CLICK HERE
Profit Share: Traders are entitled to 100% of the first $25,000 per account they are paid out, and 90% of the profit after that.
You may request and receive a payout every 8 trading days
A trading day is considered from 6 PM ET- 5 PM ET the next day.
NOTE!!! Approval DOES NOT MEAN your payment has been sent out. Payments are reviewed and approved within 2 business days and may take between 3-4 business days to reach your bank account, though processing times may vary depending on factors beyond our control.
YES: Once you request a payout, you can immediately keep trading. You do NOT need to wait to trade until the payout is approved. Just be sure to trade as if the funds were already approved and removed from your balance, keeping in mind minimum thresholds so as not to blow the account.
If you submit a request and then your account balance falls below the minimum required balance to request a payout, it will simply be denied. There is no reason to request to cancel or edit it.
***Please do NOT submit tickets to the Help Desk, or inquire on Discord, Facebook, social media, email, or other avenues asking when the payout will be approved or out of review. The Help Desk or anyone on social media is unable to assist you. The Payout Team works through requests and is unable to stop and give updates on each case while reviewing, as this will delay the process. If you have not seen your request approved within 3 business days from submission, you can then submit a Help Desk ticket. By the morning of the third business day, we should have approved or denied all payout requests. If any requests are still in an "under review" status, this means we have requested information or verification from you and are waiting for your response. Special case reviews may take longer depending on how quickly you have responded with the items requested.***
***Please do NOT submit a ticket asking where your funds are until at least seven business days after they have been released. It can take an additional 2-4 business days to see the credit reflected in your account depending on your institution, weekends, or bank holidays.***
PLEASE NOTE: Once a PA Payout request is submitted, it cannot be changed, edited, or canceled.
PLEASE DO NOT submit tickets to the Help Desk requesting to change, edit, or cancel a payout request as they are not able to do so.
Once it is in the system, it will either be approved or denied, but we are not able to edit or cancel. As soon as you request a payout, ensure that you trade your account as if the requested money has already been deducted.
Once a PA request is approved or denied, the account will not be available for further payout requests until the next payment request period and you have traded for eight (8) more trading days.
If you have requested a payment with the status of PENDING and you blow the account, you will not receive the payout since the account is blown.
If you have requested a payout and the status is APPROVED and then you happen to blow the account, you will still get the approved requested amount. Once the payout is approved you will receive it even if the account is "blown" the next day after approval.
You must first complete the PA Payout Method section before you can access the payout request page. You cannot request a payout if you have not entered the correct payout payment details of where the payout will be to be sent to.
After 8 days of trading, you will see a section available for submission: PA Request Form in your back office members' area, on the top tab options. Be sure you have hit your minimum balance and minimum trading days before requesting a payment.
According to the PA guidelines, in order to request the first payout, you must have a total of eight (8) separate, individual trading days on which you placed trades.
Subsequent payout requests also require the same minimum of eight (8) trading days between payout requests, where trades were actually traded on eight individual, separate trading days. The eight (8) active trading days are from request to request. At least 5 of those days have a profit of $50 or more.
Remember: You must separate any payout requests, whether the previous request was approved or denied, by eight (8) separate qualified trading days.
Our system does not update the trading day count until the evening processing and the start of the 9th day. If today is your 8th trading day, you will not be able to submit a payout request until the close and update of that 8th day, which is after 6 PM ET.
Payout approvals require compliance with the PA Contract Agreement and the Consistency Rules. You can find these listed in the agreement, on the Apex Trader Funding website, and in the FAQ section.
A trading day is considered from 6 PM ET- 5 PM ET the next day.
For example, if you trade Sunday night at 6 PM and again on Monday morning, that is not two separate trading days. It is considered one trading day, and all trades will be counted towards Monday trades. However, if you trade Monday morning and again Tuesday morning, then yes, that is two trading days.
Most holidays, when the market closes early, do not qualify as a separate trading day. They are rolled into the next trading day for settlement purposes with the exchanges. It is important to keep this in mind for early close trading days.
To see how many trading days you have accumulated, check on Rithmic/Tradovate. If you have not met the minimum trading days, then continue trading until the 9th day. See below for maximum payout amounts the first five (5) payouts.
There is no maximum payout on the sixth (6) payout and beyond, so long as the minimum balance threshold is in the account after the payout. A payout must be approved for it to count as a payout.
Safety Net for First Three Payouts
- Applies to First Three Payouts Only: The safety net requirement must be observed for the first three approved payouts. As of the fourth payout, the safety net requirement is no longer applicable.
- Safety Net Definition: The safety net is defined as the amount equivalent to the drawdown based on the account size, plus an additional $100.
- Applies to All Accounts: This rule applies to both new and existing accounts, ensuring consistency for traders as they progress.
- Minimum Payout: If the safety net threshold has been met, a payout equal to the minimum allowed amount of $500 can be requested, even if it exceeds the safety net amount.
-
Payouts Above Minimum:
- To request a payout over $500, the balance must exceed the safety net threshold by an amount equal to the additional amount requested.
- Example:
For a $50,000 account, we calculate the safety net as $2,500 + $100 = $2,600, based on the drawdown of $2,500.
A trader with this account reaches a balance of $52,600. The trader can request the minimum payout of $500, leaving the balance at $52,100. This is acceptable, even though it encroaches on the safety net by the $500 allowed.
To request a higher amount, for example, $1,200, the balance must exceed the safety net by the additional amount requested above the minimum of $500. In this case, the additional amount is $700, meaning the account balance must be at least $53,300. Requesting the $1,200 would leave the account balance at $52,100, which is still acceptable since it encroaches on the safety net by no more than the $500 allowed.
REQUIRED Minimum Balance To Request a payout For Each Period- "SAFETY NET"
To make a payout request, your account must be at the required minimum balance to approve a payout and must already be past the trailing drawdown level. In a PA account, the trailing drawdown stops at the starting balance plus $100. Eight (8) trading days minimum are required between each payout request. See the amounts below for reference.
$25k Account - $26,600
$50k Account - $52,600
$75k Account - $77,850
$100k Account - $103,100
$150k Account - $155,100
$250k Account - $256,600
$300k Account - $307,600
$100k Static Account- $102,600
To clarify, with a $50k account, and your balance reaches $52,000, you CANNOT request a payout. Your balance must be at least $52,600 in order to request a payout.
For example, if you have a $50k account and the balance reaches the minimum required balance of $52,600 to request a payout, you can request up to a minimum of a $500 payout.
- Minimum Payout: If the safety net threshold has been met, a payout equal to the minimum allowed amount of $500 can be requested, even if it exceeds the safety net amount.
- Payouts Above Minimum: To request a payout over $500, the balance must exceed the safety net threshold by an amount equal to the additional amount requested.
If you submit a request and then your account balance falls below the minimum required balance to request a payout, it will simply be denied. There is no reason to request to cancel or edit it.
MINIMUM: The Minimum Payout for any size account is $500. You must have a minimum of eight (8) trading days since the last request and meet the minimum required balance for a payout request.
MAXIMUM: There is a maximum payout amount on accounts for the first five (5) payouts. You can take out this maximum amount after eight (8) trading days.
The maximum payout amount for each payout period, every eight (8) trading days, depends on the account size:
$25k Account - $1500
$50k Account - $2000
$75k Account - $2,250
$100k Account - $2,500
$150k Account - $2,750
$250k Account - $3,000
$300k Account - $3,500
$100k Static Account - $1,000
100% Payout Eligibility
-
Sixth Payout and Beyond: Starting from their sixth payout, traders can access 100% of their profits, even if this is achieved earlier than four months.
- If moved to a Live Prop Account, the trader can withdraw before their sixth payout.
- Existing PA holders already at 100% or on month 3 will not be impacted.
- Faster Access to Full Payouts: The payout maximum limit is now based on the number of withdrawals rather than a time period, enabling traders to achieve full payouts faster.
Speed Example:
- If they follow an 8-day payout cycle, traders can achieve 100% payouts in as few as 48 trading days (approximately two months and one week).
- A trader requesting payouts every 8 trading days can receive 100% of their profits by their sixth withdrawal within about two months and a week.
Probation and Payouts:
- If a trader is on probation, they can still request a payout. However, to qualify for approval, the following conditions must be met during the payout review:
- A safety net must be in place.
Any restrictions or requirements that led to the probation must be fully resolved.
TAXES:
You will be paid as an individual contractor. You must keep the address maintained or updated with us in order to receive a 1099-NEC. All US Citizens and Entities are sent a 1099 form on January 31 of each year.
No reports are sent for Non-US citizens.
If you need tax advice or have questions, please contact your accountant. Apex is not able to give tax advice or answer questions regarding taxes, filings, citizenship, work visas, or any other tax-related questions.
The Apex Help Desk does not have any further information about taxes. Please do not submit tax questions to the Help Desk. Please contact a tax advisor.
Each account is considered a separate, stand-alone account. This means that if you have 10 accounts, you can payout the maximum from EACH account, EACH payout period.
For example, if you have 10 50k accounts, you can withdraw $2000 from each account for a total payout of $20,000. You can do this every eight trading days for a total of $40,000 every 16 trading days.
See more reasons why you may want to have Multiple Accounts: CLICK HERE
Related to
Comments
0 comments
Article is closed for comments.