Last Updated on February 23, 2024
We are thrilled to announce a transformative change in our fee structure, significantly benefiting LiveSim® traders:
Starting February 19, 2024, traders who pass our funding evaluations will no longer be required to pay the $139 setup fee upfront using their own capital.
Until now, non-professional traders opting for the LiveSim® Account had to pay this fee upfront out of pocket. Under our new policy, traders will no longer need to pay the LiveSim® Account setup fee from their personal funds. Instead, the $139 fee will be deducted from their first profit withdrawal. This means that traders only pay the fee if they make a profit, eliminating any upfront costs.
Why Do I Have to Pay the Setup Fee?
Our funded traders with non-professional CME status are exempt from paying monthly $135/exchange data fees. Instead of these, they only pay a one-time setup fee, which covers data from all four CME exchanges and the costs associated with setting up and maintaining a funded account. These costs include expenses related to Rithmic account creation, platform development, technological enhancements, customer service, and more. This setup fee used to be an upfront payment required from all traders who chose a LiveSim® Account, but now it is a one-time charge that is only deducted from traders’ first profit withdrawal!
How Do Profit Withdrawals Work Under the New Setup Fee Policy?
Our funded traders can withdraw their profits every week, with the minimum withdrawal amount at $100. However, for the first withdrawal only, profits must be sufficient to cover both the minimum withdrawal amount and the one-time setup fee. This means the trader needs at least $239 in profits ($100 + $139 setup fee) to make a first withdrawal.
For example:
- If you’ve earned $500 in profits and request your first withdrawal, the $139 setup fee will be deducted, leaving $361 available for withdrawal.
- If your initial profits are $239, after deducting the $139 setup fee, you will have $100 available for your first withdrawal.
- If your profit is $100, you cannot make your first withdrawal yet, as your earnings do not meet the $239 threshold (minimum withdrawal + setup fee).
For subsequent withdrawals, the minimum amount the trader can withdraw will always be $100, with no additional setup fee deductions.
What Are the Advantages for Traders?
Our new setup fee policy is a testament to our unwavering commitment to transparent practices and the success of our traders. This important change introduces significant benefits for our trading community:
- Reduced Initial Investment: Traders now only pay for their evaluation, with no setup fees paid from their own funds upon successful completion.
- Mutual Success: The setup fee is only paid if the trader makes a profit, aligning the funding firm’s interests with the success of its traders.
- Maximum Transparency: Our policy is straightforward, with no hidden fees or fine print. This allows traders to confidently plan their finances with no fear of unexpected costs.
If you have any questions about the revised fee structure, please refer to the FAQ below or contact our customer support team. For those who haven’t joined our trading community yet, we invite you to visit our website. There, you can explore our wide range of funding programs, each designed to meet the diverse needs and ambitions of different traders.
Choose the program that best aligns with your goals and dive into the world of funded trading!
Frequently Asked Questions
No, the setup fee is non-refundable, as it covers the costs of setting up and maintaining a funded account, which are paid immediately and cannot be reverted.
Traders do not pay the setup fee if they pass the evaluation but do not generate any profits.
The minimum amount you can withdraw is $100. However, for your first withdrawal, this amount increases to $239 due to the inclusion of the setup fee: $100 + $139. This setup fee is only charged once, so for subsequent withdrawals the standard $100 minimum will apply.
You have the option to withdraw your profits either via bank transfer or in cryptocurrency. These methods are provided through our partnership with Rise, an international contract and payment management platform.
Withdrawal requests are processed once a week, every Tuesday. To ensure your withdrawal goes out the next Tuesday, email your request to the prop firm by Friday, 2 p.m. CT.
The prop firm charges $10 per withdrawal (pass-through fee to Rise), which is waived for withdrawals over $500.
During your evaluation period, your subscription covers all necessary costs, including market data fees, as long as you qualify as a non-professional trader. For those with professional CME status, the data fee is $135 per month per exchange. Once you become a funded trader, you will be responsible for several types of fees:
– Data fees of $135 per month per exchange for professional traders. Non-professional traders pay a one-time $139 setup fee.
– A withdrawal fee of $10, which is waived for withdrawals over $500.
– Platform fees, which vary depending on the trading platform you choose.
– Per-side commission fees, detailed further here.
Our team is always here to help you with any questions. You can reach out to us through various channels, including live chat, email, Telegram, WhatsApp, and our Discord Server. We provide assistance in English, Spanish, Portuguese, French, and Arabic.
