What happens if I fail a Paid Performance Account?
If a Paid Performance account is failed it can not be reset. The account and the recurring PA fee will be canceled automatically. You might want to log into your members area and double check if the recurring PA fee has been canceled so that you are not charged again.
You can then go back and sign up for another evaluation account and start the process again. Just because you had a PA account fail does not mean you are not able to try again.
Instead of charging ridiculous high PA Reset fees (like one company charging anywhere from $900 to $1700 for a PA reset and if you fail your out that money), we are giving members a 80% evaluation discount good for 1 evaluation account when you fail a performance account. This discount will be given on any PA failed. The email will arrive with a unique one time coupon code for 1 evaluation of any size sometime after 1 AM the day after PA's are failed.
The coupon code has to be used within 7 calendar days after failing the PA, it will expire after 7 days and can't be reactivated
This policy is effective 06-09-2022 and not retroactive.
To see the video on this new policy please view this video
You can go through the process as many times as you need. Evaluation accounts can be reset as many times as needed, but PA accounts can not be reset.
Whatever profit amount you have qualified to withdrawal based on number of days traded and payment number you're on you can withdrawal the max. For example on withdrawal 4 there is no limit. See how withdrawals work to see how much you could withdrawal.
If you have more than that it will be forfeit. Markets can gap huge especially on earnings, Fed announcements, after the bell and weekends. You would not want us to call you and ask for 50K back for a gap so we don't and it cuts both ways. The rule is simple, cancel orders and close positions before close. You can also set Rithmic to auto close positions
There is no reason not to do one of those two things or both. Remember, you are trading with our capital and we only have 2 rules. We keep it simple, and simply ask you to follow them.
We have not had anyone with a PA violate this rule but one time and they had other PA accounts that did not and in this case, on a case by case basis we moved the profit to his other accounts. Our goal is to be fair and keep things simple.