1. How do I request a payout?
To request a payout, follow these steps:
Pass your Evaluation and receive your Performance Account.
Create an account on RiseWorks (https://www.riseworks.io) and complete the Know Your Customer (KYC) verification.
Meet your plan’s payout rules, including the $250 minimum. See your plan’s Performance Rules article for the full requirements.
Close all open positions.
Use the Request Payout button on your Vanquish dashboard. Requests can be made during regular market hours, 9:30am–4:00pm EST.
2. What happens after I submit my payout request?
Once you submit your request, the process involves the following steps:
Review: Every request goes through a quick review. Most payouts are processed in about 15 minutes. If your request is selected for a closer review, it can take up to two business days.
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?
It depends on your plan:
Rapid Express: Yes. There’s no consistency rule, so one trade with at least $250 in profit is enough.
Basic Options: Your best trade must be less than 30% of your total profit.
Advanced Options: Your best day must be less than 30% of your total profit, and you need at least 4 trading days since your last payout.
Rapid Elite: Your best day must be less than 50% of your total profit.
6. What happens to my consistency score after a payout?
It depends on your plan:
Basic Options: Consistency doesn’t reset. It’s based on your full trade history.
Advanced Options and Rapid Elite: Consistency resets after each payout and is calculated from your next trading day. On Advanced Options, your trading-day count also resets to 0/4.
Rapid Express: There’s no consistency rule.
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?
Most payouts are processed in about 15 minutes. If your request is selected for a closer review, it can take up to two business days, and we’ll let you know if this happens.
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?
Your loss limit doesn’t move when you withdraw. If your balance after the payout is at or below your loss limit, you’ll receive the payout, but your account will be breached. Always check how much room you’ll have left before requesting. See Performance Account Payouts and Loss Limits.
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 don’t meet your plan’s payout rules, such as consistency, minimum trading days or the $250 minimum.
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.