If you are looking for more general questions about payouts you can find those here.
What is the Payout Policy?
In the Funded Account® & Premium Funded Account® traders can request a payout of up to 50% of their account balance after accumulating 5 winning trading days per payout request. A winning trading day is counted when a day’s Net P&L is $100 or more.
Winning days are accumulated as a running total between payout requests, they do not need to be consecutive days. This means that after making a payout, a trader will complete 5 additional winning trading days before being eligible for their next payout. This is required for each payout request.
A trader starts their Funded Account® with a $0 account balance. On their eighth trading day, they reach their 5 winning trading days with an account balance of $6,000. They request a payout of 50% of their profit and receive $3,000. They continue trading in the Funded Account® with $3,000. After totaling an additional 5 winning trading days they can decide if they want to payout up to 50% of their profit again.
Premium Funded Account®
A trader starts their Premium Funded Account® with a $5,000 account balance. On their sixth trading day, they reach their 5 winning trading days with an account balance of $8,000. They request a payout of 50% of their profit and receive $4,000. They continue trading in the Premium Funded Account® with $4,000. After totaling an additional 5 winning trading days they can decide if they want to payout up to 50% of their profit again.
Additional Payout Information
- If a rule is broken in the account, the trader will receive their profits greater than the account’s starting balance.
- If a rule is broken in the account and there are no profits greater than the account's starting balance, no payout will be made.
- If a rule is broken in the Premium Funded Account® and the balance is below the account's starting balance, the remaining funds will be forfeited back to Topstep.
- If an account is closed due to 90 days of inactivity or a trader voluntarily requests to close their account, the trader will receive their profits greater than the starting balance.
How can I Request a Payout?
You can submit a request by contacting our team through this form in our app.
When a payout is requested and approved, we will remove the funds from the trader’s live account. Our firm will then start the process of sending the funds to the trader via their requested method. Payouts are generally dispersed to the trader within two (2) to five (5) business days.
We can process payouts using the following methods:
- ACH Wire: Bank wire is available for traders with a US-based bank account (the trader does not need to be a US resident). There is no transfer fee for ACH wires. The bank account must be in the trader's name.
- Standard Bank Wire: Bank wire is available for traders with banks based outside the US. Traders living outside the US must submit their bank information (including international SWIFT and IBAN account numbers) to ensure a successful transfer of funds. If the wire transfer information provided was incorrect and the funds were returned to our bank, we will deduct a $50 fee for each additional attempt made after the first wire transfer. The standard wire is the quickest and most efficient method available to make payouts for traders outside the US. The bank account must be in the trader's name.
We are unable to process payouts via PayPal, and we cannot transfer funds from the Funded Account® to a personal trading account held by the trader.
What Tax Form Should I Fill Out?
The Internal Revenue Service (IRS) requires we collect certain information before any money is paid by a company (TopstepFunded, LLC) to a vendor (Funded Trader). Depending on their nationality, location, and business status, Funded Traders will either fill out a W-9, W8BEN, or W8BEN-E.
|Your Current Location||Your Business||Form to Complete||Payment Information Reported to|
|United States||Anywhere||Individual or Company||W-9||IRS – if total
|Non-US Citizen||United States||Individual or Company||W-9||IRS – if total
|Non-US Citizen||Anywhere EXCEPT the United States||Individual||W-8BEN||No one, held in
*If the IRS or other governing bodies specifically request reporting, we are obliged to provide
the information. This is rare.