Uprofit is a prop firm that runs a funded program that focuses on futures trading. The Uprofit funded trading program offers up to $200,000 in funding to traders that pass the evaluation process and prove their eligibility. This article will be focusing on the withdrawal policy of Uprofit and the intricacies that surround the entire process.
Do People Withdraw from Uprofit?
Yes, people withdraw from Uprofit and Trustpilot provides evidence of this. Many of the reviews about Uprofit on Trustpilot laud the firm’s withdrawal process as the best. One, in particular, appreciated the 24-hour withdrawal without minimum trading days requirement.
Overall, the withdrawal requirements are not strict and it does not take long before the process of withdrawal gets completed. Other reviews talked about how withdrawal can be made any day of the week. The bottom line is that Uprofit is legit and many traders are using it due to the firm’s excellent customer support, EOD drawdown, short evaluation days, and fast withdrawal process.
What is the Profit Split at Uprofit?
In terms of the profit split at Uprofit, the first $8000 earned in profits by the trader belongs to him. Subsequent profits are then split in an 80% to 20% ratio in which the trader gets 80% while the firm gets the remaining 20%. However, this profit split is dependent on something known as the Safety Net which will be explained later.
How much Profit can I Withdraw at Uprofit?
Traders can request withdrawals from the first day they begin to trade their Uprofit live Account. The account drawdown is not affected by withdrawals. Anytime traders decide to withdraw, the current value of the account will be maintained before the withdrawal request. Withdrawals at Uprofit are related to something called the Safety Net and that will be examined next.
What is the Uprofit Safety Net?
It is a threshold that limits how much you can withdraw from your account. It functions as a means of protection that ensures traders do not end up losing their Live Accounts. The loss could arise due to unexpected events or a set of trades in which the trader fails to meet the expected goals.
The Safety Net doesn’t stop you from withdrawing your earnings, it’s a recommended amount of profits that Uprofit advises you to leave in your account to not lose your account.
But to urge you to respect the safety net, if you make withdrawals under the safety Net, Uprofit gives you only 50% as a profit split for you, and takes the other 50% of profits. instead of giving you the 80% promised.
Why is this so important? because when you withdraw your profits, the Drawdown remains unchanged. Let’s explain it in the next lines.
Let’s say you have a $50k account, with a Pro Drawdown of $2000. Let’s say you made $1500 profits, that means that the minimum balance allowed according to the drawdown is $49500 ($51500 – $2000 = $49500).
Now, if you decide to withdraw all profits made ($1500), your balance will return to $50k, and your minimum balance allowed will remain at $49500. so you can’t lose more than $500 in your next trades. The account can be very hard to keep with that tiny drawdown ($500).
How much is the Safety Net?
Uprofit offers six different account sizes and there is a specific Safety Net for each account. This is shown in the list below.
Safety Net for $9K Account: $800
Safety Net for $25K Account: $1,500
Safety Net for $50K Account: $2,500
Safety Net for $75K Account: $3,000
Safety Net for $100K Account: $4,500
Safety Net for $200K Account: $7,500
How much can be withdrawn within the Safety Net?
There is a peculiar way in which the profits are distributed within the Safety Net in a bid to protect the earnings of traders. We will now be examining this in detail.
From day one to day 41
Traders get 50% of the profit withdrawals requested between day 1 to day 40 within the safety net. For example, let us assume a trader wants to withdraw $2,000 before day 41, this means the trader will be getting $1,000 while Uprofit gets the remaining $1,000.
From day 41 onwards
For profit withdrawals requested from day 41 onwards, the trader gets 80% as the 100% bonus is not applicable here.
Let us assume the trader still wants to withdraw the same amount of $2,000 from day 41 onwards, the trader will now be getting $1600 (instead of $1,000 in the earlier example) while the firm will be getting the remaining $400.
How much can be withdrawn above the Safety Net?
From day one to day 41
Profit withdrawals above the Safety Net can be requested from the first day of trading a Uprofit live account. 100% of the first $8,000 in profit goes to the trader and then subsequent profits will have 80% of the profits going to the trader with the firm getting the remaining 20%.
From day 41 onwards
From the 41st day onwards, 100% or 80% of the balance above the Safety Net is eligible for withdrawal while 80% of the balance will be eligible for withdrawal under the Safety Net. The example below explains these scenarios better.
Let us assume a trader is trading on a Uprofit $75,000 account and gets to the 45th day of trading. On this day, the trader’s account balance is now at $80,750 which means the trader has earned $5,750 in profits. The trader then chooses to withdraw $5,000 of the profits earned but since the Safety Net for a $75,000 account is $3,00, this will lead to the trader’s withdrawal getting divided into two parts:
- The trader will get 100% of $2,750. This is the value of the profit that remains once the $3,000 safety net is exceeded ($5750 – $3000 = $2750).
- To complete the remaining part of the withdrawal request, the trader will be getting 80% of the remaining balance requested, $2,250 ($5000 – $2750 = $2250). This means that for this portion of the withdrawal, the trader will now be receiving $1,800 in profits which is 80% of $2,250. This is because the balance is now within the Safety Net which means the trader cannot receive 100% of the requested profits but rather 80%.
After completing the withdrawal, the trader’s account balance is now $75,750 and after accounting for the breakdown of percentages, the total amount of money that the trader will be receiving in bank transfer for this withdrawal is $4,550.
Note that the $8,000 bonus is active for all accounts where the first and successive withdrawals are made on top of the Safety Net up to $8,000 in accumulated withdrawals.
Questions and Answers about Uprofit Payouts?
What time during the month can I withdraw profits?
There is no specific time of the month for traders to withdraw profits. This means they can request the withdrawals of their profits any time of the month from Monday to Friday.
After how many trading days?
There are no minimum trading days required. As such, traders can request for withdrawal of profits from the first day of trading as long as they have a sufficient amount.
Is there a minimum & maximum withdrawal of my profits?
The minimum amount required to make a profit withdrawal is $100 and there is no maximum. Therefore, traders can withdraw as much as they want and as many times as they like within a month.
How to withdraw profits from Uprofit Trader?
Withdrawal of profits works in two stages namely:
- The withdrawal request which involves the trader sending a withdrawal request to firstname.lastname@example.org
- Submission and confirmation of the requested information. This will be followed by the deduction of the money from the trader’s account and the trader can expect to receive the payment within the next 24 hours.
Note that withdrawals are generally processed within 24 hours from Monday to Friday.
Where can I receive withdrawals?
Below are the methods for receiving payouts from Uprofit:
- Bank transfer via ACH transfer or Zelle for those within the United States
- International bank transfer via letsdeel platform for those outside the United States
- Cryptocurrencies such as USDT or USDC.
What is the distribution of earnings if an account gets terminated?
Profits in the range of the Safety Net of a canceled account between day 1 and day 40 of trading will be liable to a 20% profit split for the trader.
Starting from day 41, profits within the Safety Net of a terminated account will be liable to a 50% profit split. Profits above the Safety Net of a terminated account will be liable to an 80% profit split for the trader.
Generally, the withdrawal process at Uprofit is simple and direct. It is also fast and does not take much time before a trader receives the funds after requesting a withdrawal. There are also multiple options by which traders can receive the requested funds. Overall, Uprofit has one of the best withdrawal processes in the industry.