Prop firm Monthly payout

I want to get a check next month. Is the amount based on how far you are above the initial deposit/capital contribution or is it based on the amount you are up for that month?


Thanks.

 

I had a bad first month in July and a profitable (by minimum wage standards) August. I hope the prop firm payout is based on how well I do for that month..otherwise I probably have 2 more weeks of account repair.

 

Not sure who or actually what you're asking. Our traders can draw profits every week if they like. Why are concerned about your own money?

Or, are you under salary somewhere, in which case you should know all this ahead of time....???


Don

 

Thanks for the reply Don,

I'm with WTS so my money is locked up for a year. I was just wondering how payout is determined on a monthly basis.

I called the WTS mainline to get an answer and I was told a trader can take any profits above their initial deposit/capital contribution amount.

I was under the impression originally that monthly profit withdrawal is based on how much you make for that month.

I had a bad July but an alright August. So I am down overall in my account value but up for the month of August. I wanted to know if I can get a check based on the results of August alone.

I will need to call again Tuesday to get a better answer. I was hoping to get a reply on here from someone at WTS or in a similar situation.

 

You can Only take profits above your risk capital amount that is locked up

the way it works with WTS & the majority of registered prop firms

the firms have to protect themselves against any trading losses , now its a rule with lockups with most firms

FYI
All money that you deposit in your account is locked up for 1 year & you can only withdraw profits above that total dollar amount

build your account with profits is the smart idea , rather then add more money unless you have to with taking drawdowns

 

Thank you hitnrun.

 

your welcome,

the rules are not to our benefit , the lockup rule does not protect the trader at all

the majority of traders keep a minimum amount of capital in there account to trade with for numerous reasons with any prop firm

once any prop has your money , your at there mercy
key is to make money & pay yourself as often as you can

 

don

you know how the rules work with most prop firms , no one pays salaries especially at wts Lol.

getting paid weekly is a plus with some prop firms

traders with bright , would be allowed to Only take profits above there 20 k risk captial requirement to my understanding

Don , Is that correct ?

 

Any amount above your deposit can be taken out whenever you like. We have a weekly withdrawal program.

Don

 

thanks don

i thought so , the weekly pay is a big plus for your traders


Is the minimum with bright to open the prop account still 20 k ?