How Can I Request and Receive a Withdrawal?
How Can I Receive my Withdrawal?
You can receive your Funded Account® profits via ACH or wire transfer to a personal bank account in your name. TopstepFX™ will cover costs on transfers of $500 or greater. For withdrawals less than $500, the trader is responsible for covering the wire transfer fee of $50.
How Can I Request my Withdrawal?
When you are in the Funded Account you will have access to the 'Request Withdrawal' button. By clicking that you will be able to send a withdrawal request to our Funding Team.
How Does a Withdrawal Affect My Account?
In the Funded Account®, you can request a withdrawal at any time. The withdrawal will be reflected in your account balance and buying power within 24 business hours and paid on average within seven to ten (7-10) business days. When a withdrawal is made, the trader's Funded Account Loss Limit will be moved to $0, and the trader's buying power will be adjusted.
For example, if a trader initiates a withdrawal in a $500K Trading Combine, his/her minimum balance would not be allowed to fall below the $5,000 starting balance, regardless of how large or small the withdrawal is or where the Account Loss Limit was previously. In addition, the trader's leverage would decrease by the amount of the withdrawal. As such, we recommend that traders be strategic about their withdrawals so as to not disrupt their overall leverage.
What Tax Form Should I Fill Out?
The Internal Revenue Service (IRS) requires we collect certain information before any money is paid by a
company (TopstepFX) to a vendor (Funded Trader). Depending on their nationality, location,
and business status, Funded Traders will either fill out a W-9, W8BEN, or W8BEN-E.
|
Your Nationality |
Your Current Location | Your Business | Form to Complete | Payment Information Reported to |
|---|---|---|---|---|
| United States | Anywhere | Individual or Company | W-9 | IRS – if total yearly payment is $600+ |
| Non-US Citizen | United States | Individual or Company | W-9 | IRS – if total yearly payment is $600+ |
| Non-US Citizen | Anywhere EXCEPT the United States | Individual | W-8BEN | No one, held in our records* |
| Non-US Citizen | Anywhere EXCEPT the United States | Company | W-8BEN-E | No one, held in our records* |
*If the IRS or other governing bodies specifically request reporting, we are obliged to provide
the information. This is rare.
