1. How do I request a payout?
To request a payout, follow these steps:
Ensure you’ve passed the evaluation phase and are eligible for a payout.
Create an account on RiseWorks (https://www.riseworks.io). You will need to complete the Know Your Customer (KYC) verification process during account setup.
Submit your payout request directly through the RiseWorks dashboard. The minimum payout request is $250.
2. What happens after I submit my payout request?
Once you submit your request, the process involves the following steps:
Review: Your request is reviewed within 1–2 business days to ensure eligibility and compliance.
Approval: If approved, you will receive an email with agreements to sign. These agreements ensure compliance with the simulated trading platform's policies.
Payout Delivery: Once the agreements are signed, your funds will be deposited into your RiseWorks account. You can then choose to withdraw them via ACH (bank transfer) or cryptocurrency (e.g., USDC or USDT).
3. Is there a minimum payout amount?
Yes, the minimum withdrawal amount is $250.
4. Is there a maximum payout limit?
No, there is no cap on how much you can withdraw. You can request unlimited payouts as long as your account balance supports it.
5. Can I withdraw funds after one profitable trade?
No, you must adhere to the consistency rule, which states that no single trade can account for more than 30% of your total profits and losses.
6. What happens to my consistency score after a payout?
Your payout will not affect your trading consistency. The consistency score is based on trade behavior, not withdrawals.
7. Do I need to close all positions to request a payout?
Yes, all open positions must be closed before submitting a payout request. This ensures that the account balance reflects realized gains or losses accurately, protecting you from unexpected changes during the payout process.
8. How long does it take to process a payout?
Payouts typically take up to 48 hours to finalize after approval. However, delays may occur if additional verification is required.
9. What currencies can I withdraw my payout in?
You can choose your country's native currency for ACH bank transfers.
You may also opt for cryptocurrency payouts in USDC or USDT.
10. Do I need a RiseWorks account to receive payouts?
Yes, all payouts are processed exclusively through the RiseWorks platform. To receive payouts:
You must create a RiseWorks account and complete KYC verification.
Without a verified account, payouts cannot be processed.
11. What happens if I don’t pass the KYC verification?
If your KYC verification is not approved:
Your payout request will be denied, and the funds will remain in your performance account.
You can continue trading on the platform, but you won’t be able to withdraw funds until the KYC process is successfully completed.
12. How will I receive tax forms for my payouts?
The RiseWorks platform automatically issues the appropriate tax forms (e.g., 1099s, W-8BENs, or W-9s) to contractors at the end of the year. These forms help you report your earnings to the relevant tax authorities.
13. How am I taxed on my payouts?
Taxation depends on your country’s laws and the tax form you submitted (e.g., W-9 for U.S. citizens or W-8BEN for non-residents). It's recommended to consult a tax professional for advice specific to your situation.
14. What happens if I issue a payout request but fail my performance account before the payout is processed?
If your performance account fails before the payout is issued:
The payout request will remain valid as long as the payout amount was deducted before the account breach.
If the payout request was not deducted and the account fails than the request is canceled along side the performance account.
15. What happens if I withdraw all my profits? Would I hit my trailing drawdown and fail?
Yes, withdrawing all your profits could result in your account balance matching your loss limit, leading to an account failure. Always calculate how withdrawals affect your trailing drawdown before making a payout request.
16. What circumstances could result in a payout being denied?
Payout requests may be denied if:
Exploitive trading behaviors are detected, such as:
Shorting or trading more shares than available in the market (e.g., for hard-to-borrow stocks).
Using high-frequency trading strategies that exploit bid-ask spreads without real market impact.
Manipulating the trading software to bypass prohibited strategies.
KYC verification is not completed.
You fail to meet the consistency rule or other trading guidelines.
17. Do I need a crypto wallet to accept cryptocurrency payouts?
No, a crypto wallet is not required. You can opt to receive payouts as a direct ACH transfer to your bank account if you prefer.