After completing the Uprofit Trader Evaluation, traders get a Funded Live Account. They can ask to withdraw their earnings according to Uprofit Trader’s withdrawal rules. They have the right to get a percentage of the profits they make.
Uprofit Trader’s payout rules permit traders to request payouts after achieving profits on four distinct trading days. Participants receive a 100% bonus on their first payout up to $15,000 and retain 80% of the profits from subsequent payouts.
Payout requests at Uprofit Trader can be submitted any time from Monday to Friday, 09:00 to 16:30 ET, excluding holidays, with processing within 24 hours. Traders can ask for payouts using bank transfer (ACH or Zelle for US), international bank transfer, PayPal, or cryptocurrencies (USDC).
This article offers an in-depth exploration of the withdrawal and payout policy at Uprofit Trader, It covers essential elements such as payment methods, timing, charges, restrictions, and tax implications.
What is the Uprofit payout policy?
The Uprofit payout policy explains how traders can take out profits from their trading accounts. It talks about who can get payouts, how bonuses are figured out, how to ask for payouts, the smallest amount you can take out, how you can get paid, and what happens if you break account rules. Here are the key aspects of the policy:
- Payout Request Process: Payouts are processed Monday through Friday within 24 hours, excluding holidays.
- Payout Eligibility: Traders can request a payout after achieving 4 winning days, which do not need to be consecutive. Additionally, the best trading day’s profit must stay below 30% of the total account profit.
- 100% Bonus on First Payout: Traders receive 100% of their first payout up to $15,000. This bonus applies per user, not per funded account. From the second payout, traders will receive 80% of the profits.
- Minimum Payout Amount: The minimum amount for a payout request is $100.
- Rule Violation: If a rule is violated, the live account will be liquidated, and the trader will be entitled to receive 20% of the profits generated at the time of the breach. Similarly, if a trader chooses to liquidate their account at payout without breaking a rule, they will also receive only 20% of the profit.
What’s the minimum withdrawal amount at Uprofit?
The minimum withdrawal amount at Uprofit is $100. This applies to any size of account.
What’s the maximum withdrawal amount at Uprofit?
There is no specified maximum withdrawal amount at Uprofit according to the payout policy.
What’s Uprofit’s Minimum Balance For Withdrawals?
There is no minimum balance to request a withdrawal at Uprofit, and no minimum balance to keep after a withdrawal. Uprofit has removed that withdrawal policy known as the Safety Net (Safety Zone) since August 2023.
What are Uprofit’s withdrawal methods?
Uprofit offers the following withdrawal methods:
- Bank transfer within the United States (ACH transfer or Zelle)
- International bank transfers outside the United States
- PayPal
- Cryptocurrencies (USDC on ERC20, Polygon, Solana, TRC20, or Stellar networks)
When traders can withdraw from Uprofit?
Traders can request withdrawals from Uprofit Monday through Friday, within the hours of 09:00 ET to 16:30 ET. Payouts are processed within 24 hours, excluding holidays.
How fast is Uprofit’s payout process?
Uprofit’s payout process is designed to be completed within 24 hours from the time the withdrawal request is submitted, provided the request is made Monday through Friday during the specified reception hours of 09:00 ET to 16:30 ET.
How does the payout process work at Uprofit?
The payout process at Uprofit works as follows:
- Eligibility Check: Traders must ensure they meet the criteria for a payout, such as achieving 4 winning days and adhering to the trading account’s rules.
- Request Submission: Traders send the payout requests via email to payouts@uprofittrader.com.
- Required Information: The request must include the trader’s full name, live account number, and the desired withdrawal amount.
- Selection of Withdrawal Method: The preferred payment method should be specified from the available options.
- Processing Time: Once received within the specified hours, Uprofit aims to process payouts within 24 hours.
- Funds Receipt: After confirming the request, funds are transferred to the chosen payment method within 24 hours.
what are Uprofit’s payout restrictions?
Uprofit’s payout restrictions are as follows:
- Prohibited Countries: UPROFIT, prohibits countries that do not provide adequate levels of data protection in accordance with established standards.
- Account Type: Payouts are not available from evaluation accounts; they’re only possible from Funded Live Account.
- Minimum Payout: Traders cannot request payouts under $100.
- Minimum Trading Days: A minimum of 4 winning trading days between payout requests is required.
- Consistency Rule for Withdrawals: No more than 30% of the profit balance can come from a single trading day at the time of a withdrawal request.
- Profit Split: Traders receive 100% of their first payout up to $15,000, and 80% of profits from the second payout onwards.
What is the Uprofit profit share?
The profit split rule at Uprofit is as follows:
- For the first payout, traders receive 100% of the profits up to $15,000. This bonus is per user, not per funded account.
- From the second payout onwards, traders will receive 80% of the profits.
What to know about taxes on Uprofit payouts?
For Uprofit payouts, the key points regarding taxes are:
- USA-Based Traders:
- Classification: Traders are treated as 1099 contractors by trading firms.
- Tax Reporting: Traders receive Form 1099 for the total amount paid.
- Income Reporting: Traders report this as business income, not as capital gains.
- Deductible Expenses: Traders can deduct trading-related expenses.
- Special Cases: Traders should check with their firm for unique tax treatments.
- Non-USA-Based Traders:
- Income Treatment: Payouts are treated as business income, not subject to U.S. capital gains tax.
- No U.S. Tax Forms: Non-US traders don’t receive U.S. tax forms like 1099.
- Tax Responsibility: Traders must report and pay taxes in their home country.
- Form W-8BEN: Non-US traders must submit to declare non-U.S. taxpayer status.
does Uprofit apply withdrawal fees?
Uprofit does not apply withdrawal fees for payouts from the Funded Live Accounts. However, the withdrawal method may apply its own fees.
Does Uprofit Pay Out?
Yes, Uprofit pays out its traders. Uprofit has been running since 2017, and traders are happy with their funded trading evaluation program. The firm facilitates rapid payouts through methods such as ACH, international bank transfers, PayPal, and cryptocurrencies, allowing for withdrawals after four winning days. With over 6,000 reviews on Trustpilot and a rating of 4.8 out of 5 stars, Uprofit’s legitimacy and reliability in payouts and trader satisfaction is well-documented.
Verified Withdrawal Proofs from Uprofit Traders
Visual proof of withdrawal couldn’t be found, but here are a few actual proofs of Uprofit payouts as evidenced by Trustpilot:
- Some Trustpilot reviews confirm payouts.
Will withdrawals alter Uprofit’s trading rules?
Withdrawals from an account do not modify the set Uprofit trading rules, such as the daily loss limit or maximum drawdown limits. However, they do decrease the account balance, which has two main effects:
- Drawdown Margin: Withdrawing money reduces the gap between the current account balance and the drawdown threshold. This means traders have a smaller buffer for losses, requiring more cautious trading to avoid breaching drawdown rules.
- Scaling Contracts: The allowable number of contracts is often tied to the account’s balance. When profits are withdrawn, this can decrease the number of contracts a trader is allowed to use, affecting the ability to take larger positions and potentially impacting profitability.
