Revolutionary Shift in Trading Account Setup Fees
Breaking News: Traders Rejoice as New Fee Structure Unveiled
Exciting developments are on the horizon for traders as a game-changing alteration in account setup fees is set to take effect soon. Starting February 19, 2024, a remarkable transformation awaits traders participating in LiveSim® trading.
Eliminating Upfront Costs for Aspiring Traders
Top 5 Things About Uprofit’s New Fee Structure
- Elimination of the $139 initial setup fee for a successful financing evaluation
- Flexible earnings withdrawal with a minimum threshold of $100 and setup fee deduction
- Improved accessibility for merchants with transparent fee structure
- Shared success model that aligns the interests of the financing company and merchants.
- Clear policy with no hidden fees that empowers merchants
In a groundbreaking move, traders who successfully complete funding evaluations will no longer shoulder the burden of a $139 setup fee upfront using their personal funds. This shift marks a departure from the previous norm where non-professional traders had to dip into their own pockets to cover the setup fee for a LiveSim® Account.
Under the new policy, traders can now bid farewell to the days of upfront payments. Instead, the $139 setup fee will be seamlessly deducted from their first profit withdrawal. This means that traders will only incur the fee if they manage to generate profits, eradicating any initial financial barriers.
Understanding the Rationale Behind the Setup Fee
The setup fee, which was once a mandatory upfront payment for all LiveSim® Account holders, now serves as a one-time charge deducted from traders’ initial profit withdrawals. This fee encompasses expenses related to various facets such as Rithmic account creation, platform development, technological advancements, customer service, and more.
By exempting funded traders with non-professional CME status from monthly $135/exchange data fees, the setup fee encapsulates the costs associated with setting up and maintaining a funded account, including data from all four CME exchanges.
Navigating Profit Withdrawals Under the New Policy
Traders now have the flexibility to withdraw profits on a weekly basis, with a minimum withdrawal threshold of $100. However, the first withdrawal requires profits that cover both the minimum amount and the one-time setup fee. In essence, traders need a minimum of $239 in profits ($100 + $139 setup fee) to initiate their first withdrawal.
For subsequent withdrawals, the minimum withdrawal amount remains at $100, with no additional deductions for the setup fee.
Benefits Galore for Traders
The revamped setup fee policy underscores the firm’s dedication to transparent practices and trader success. This pivotal modification delivers a myriad of advantages to the trading community, including:
– Enhanced Accessibility: Traders now solely bear the cost of evaluation, with no upfront setup fees drawing from their personal finances upon successful completion.
– Shared Success: The setup fee is contingent on traders reaping profits, aligning the interests of the funding firm with the prosperity of its traders.
– Unparalleled Clarity: The policy is crystal clear, devoid of hidden charges or intricate clauses. This empowers traders to chart their financial strategies without the specter of unforeseen expenses.
Inquiries and Engagements
Top 5 Things About Uprofit’s New Fee Structure
- Elimination of the $139 initial setup fee for a successful financing evaluation
- Flexible earnings withdrawal with a minimum threshold of $100 and setup fee deduction
- Improved accessibility for merchants with transparent fee structure
- Shared success model that aligns the interests of the financing company and merchants.
- Clear policy with no hidden fees that empowers merchants
For any queries pertaining to the revised fee structure, please consult the FAQ section below or reach out to our dedicated customer support team. Aspiring traders intrigued by the prospect of joining our vibrant trading community are encouraged to explore our website, which hosts an array of funding programs tailored to cater to diverse trader aspirations.
Select the program that resonates with your objectives and delve into the realm of funded trading with confidence!
Frequently Asked Questions
1. Is the setup fee refundable?
The setup fee is non-refundable as it covers the immediate costs of establishing and maintaining a funded account.
2. Do traders pay the setup fee if they pass the evaluation but don’t make profits?
Traders are exempt from the setup fee if they successfully complete the evaluation but fail to generate profits.
3. What is the minimum withdrawal amount?
The minimum withdrawal stands at $100, except for the first withdrawal, where it increases to $239 to encompass the setup fee ($100 + $139). Subsequent withdrawals revert to the standard $100 minimum.
4. How can traders withdraw profits?
Profits can be withdrawn either via bank transfer or in cryptocurrency, facilitated through our collaboration with Rise, an international contract and payment management platform.
5. When are withdrawal requests processed?
Withdrawal requests are handled weekly, every Tuesday. To ensure timely processing for the next Tuesday, kindly submit your request to the prop firm by Friday, 2 p.m. CT.
6. Are there withdrawal fees?
A $10 fee per withdrawal is levied by the prop firm (passed through to Rise), but this charge is waived for withdrawals exceeding $500.
7. What fees are applicable to funded traders?
Upon transitioning to a funded trader, you will encounter various fees, including data fees of $135 per exchange for professional traders, a one-time $139 setup fee for non-professional traders, a withdrawal fee of $10 (waived for withdrawals over $500), platform fees varying by platform, and per-side commission fees.
Our team stands prepared to assist you with any inquiries through multiple avenues such as live chat, email, Telegram, WhatsApp, and our Discord Server. We offer support in English, Spanish, Portuguese, French, and Arabic.
