Help Center

How Do Payouts Work? Payouts, Withdrawals, Profit Split-Percentages

John
John
  • Updated

 

Ready to request a withdrawal? TO SET UP YOUR PAYOUT METHOD: CLICK HERE

 

Profit Share: Traders are entitled to 100% of the first $25,000 they are paid out, and 90% of the profit after that. 

You may request and receive a payout Twice Per Month:

Request Dates: 1st-5th. The payout happens on the 15th. Approvals may happen any time between the 1st and 14th of the month.

 

NOTE!!! Approval DOES NOT MEAN your payment has been sent out.  Payments are sent out by the 15th of the month and may take between 3-7 BUSINESS days to reach your bank account.

 

Request Dates: 15th -20th. The payout occurs on the 30th, or the last day of the month. Approvals may happen any time between the 15th and the 29th.

 

NOTE!!! Approval DOES NOT MEAN your payment has been sent out.  Payments will be sent out by the LAST DAY of the month and may take between 3-7 BUSINESS days to reach your bank account.

 

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 to not blow the account. 

 

 

***Please do NOT submit tickets to the Help Desk asking when the payout will be approved until after the 14th or the 29th of the month. If you have not seen it approved by those dates, you can submit a Help Desk ticket.****

*** Please do NOT submit a ticket asking where your funds are until seven days after they have been released. It can take an additional 2-7 business days to see the credit reflected in your account, depending on your institution.***

 

1. Monthly Withdrawal Request dates are the 1st-5th, and then again 15th-20th. This is when you submit the withdrawal request.

2. Approval or Denial timeframes. This is the reviewing period for the withdrawal.

 

PLEASE NOTE: Once a PA Payout request is submitted, it cannot be changed, edited, or canceled. 

PLEASE DO NOT submit tickets to the helpdesk 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, be sure to trade your account as if the requested money was already deducted.

For example, if you submitted a request but then your account balance falls below the minimum required balance to request a withdrawal, it will simply be denied. There is no reason to request to cancel or edit it.  

 

Once a PA request is approved or denied, the account will not be available for further withdrawal requests until the next payment request period and you have traded for 10 (ten) more trading days. 

If you have requested a payment with the status of PENDING and you blow the account, you will not get the payout since the account is blown.

If you have requested a payment and the status is APPROVED, and then you happen to blow the account, you will still get the approved request amount. Once the payout is approved you will receive it even if the account gets "blown" the next day after approval. 

You must first complete the PA Payout Method section before you can access the Withdrawal Request page. You cannot request a withdrawal if you have not entered details of where the withdrawal is to be sent to. 

 

Payout_Method.jpg

During the dates listed above, 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.

Payout_Request.jpg

For your first payout, you must have a total of 10 (ten) separate, individual, trading days, where trades were actually placed on those ten days, according to the PA guidelines, before you can request the first payout.

Subsequent payout requests also require the same minimum of 10 (ten) trading days between payout requests, where trades were actually traded on ten individual separate trading days. The 10 (ten) active trading days are from request to request. The timeframe is unrelated to approval dates, fund deductions, or payout transactions. 

Remember! There must be 10 (ten) separate qualified trading days between any withdrawal requests, whether the previous request was approved or denied. 

Our system does not count a trading day to be complete until the evening processing and the start of the 11th day. If today is your 10th trading day, you will not be able to submit a withdrawal request until the close and update of that 10th day, which is after 6 PM ET. Since there are two pay periods per month and a 5-day window for each period, this should cover all scenarios.

This system is automated and we are not able to make exceptions. Any deadlines that are missed will fall into the next payout request period. You can submit the withdrawal request at that time.

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 6PM ET- 5PM ET the next day.

For example, if you trade Sunday night at 6 PM, then trade 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, where the market is closing early, are not considered 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. If you have not met the minimum trading days, then simply request during the next period, two weeks later.

 

The first through third payout months have a minimum payout of $500, with a minimum account balance threshold after payout. There is also a max payout amount for the first through third payout months. It is considered a single payout month, whether you took one or two payouts during the month. See below for maximum payout amounts the first three payout months. 

There is no maximum payout on the fourth payout month and beyond, so long as the minimum balance threshold is in the account after payout. A withdrawal must be made for it to count as a withdrawal month.

 

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 Form 1099 on January 31 of each year.

No reports are sent for Non-US citizens.

For any tax advice or questions, please contact your accountant. Apex is not able to give tax advice nor answer questions regarding taxes, filings, citizenship questions, 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. 

 

 

REQUIRED Minimum Balance To Request a Withdrawal For Each Period

To make a withdrawal 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. Ten trading days minimum are required between each withdrawal 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

You are NOT required to leave the "safety net" amount in the account, unlike most other companies! 

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 $2,000 payout. This leaves your remaining balance at $50,600. Remember, your balance cannot go below $50,100 in this example without "failing" the account. You ARE able to take out that amount, but you would leave yourself with only $500 in drawdown room.

Most companies only allow you to withdraw above the minimum amount. Apex does not. However, your balance must always be at the minimum requirement in order to request a payout. 

If your balance falls below the minimum payout balance, then the payment will not be processed until eligible the next month, when you must request it again. Remember, on a $50k account, for example, the account balance must be at least $52,600, in order to be eligible for a payout request. This is regardless of it being the first payout or any ongoing payouts.   

 

 

MINIMUM: The Minimum Withdrawal for any size account is $500. You must have a minimum of ten trading days since the last request and meet the minimum required balance for a withdrawal request. Requests are only accepted on certain days each month as outlined above.

 

MAXIMUM: There is a Maximum withdrawal amount on accounts for the first three months of withdrawals. You can take out this maximum amount, twice a month, according to the schedule above. You must have had 10 (ten) trading days between requests and meet the minimum balance requirement.

Starting with the 4th month, after three previous months of withdrawals, there is no maximum. You can take out as much as you want, as long as the account stays above its minimum required balance. Please recall, this is the starting balance plus $100, and there are a minimum of ten trading days between requests. 

Unlike most other companies, there is no "safety net" amount required for you to keep in the account. 

The maximum withdrawal amount for each payout period, twice monthly, 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

 

Each account is considered a separate, stand alone account. This means that if you have 10 accounts, you can withdraw 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 $20,000 payout. You can do this twice a month, for a total of $40,000 payout for the month!

This limit applies to the first three months. On the fourth and subsequent months, there is no maximum from each account. 

 

See more reasons why you may want to have Multiple Accounts: CLICK HERE

 

 

 

 

 

 

 

 

 

Related to

Was this article helpful?

30 out of 38 found this helpful

Have more questions? Submit a request

Comments

0 comments

Article is closed for comments.