The Fast Pass Reset
Beginning August 15th 2021, Funding Talent Elite members will now be eligible for a one time “fast pass” fee if a drawdown violation should occur on their account. This will essentially allow traders the ability to “reset” their Elite or Challenge account with a 25% discounted fee, without having to completely retake the challenge. The member can pay the reset fee after either a max daily loss violation or max overall loss violation. At that point, they will receive a completely new Elite or Challenge account with the same account size they originally purchased. The Fast Pass can only be used once. You can not purchase a Fast Pass and use it for an Elite Account that was created prior to August 15th. Elite Accounts that are eligible for the use of the Fast Pass would be created on August 15th or later.
The One Day Payout Requirement
The following payout requirement takes effect for all Elite members on August 14th at 11:59 PM EST. This means all trades taken August 1st and later will need to follow this guideline in order to withdraw on the 15th of August and onward. The next payout date on August 1st will not be affected by this change. This ultimately affects any new members who sign up from July 19th onward as reflected on the website.
The payout requirement applies only to Funding Talent Elite members who exceed $10K in profits. To be fair and considerate, active Elite or Challenge members who have signed up for Funding Talent and do not have any violations of their account will be eligible for a full refund of their most recent purchase if this payout requirement does not suit them. Any refund requests must be emailed to support by July 20th at 11:59PM EST.
Traders who accumulate half (50%) or more of their total profit amount in one day will not be eligible to withdraw at the next available payout date. For the purpose of this requirement we consider closed trades only. The payout is not denied, but deferred until each day’s profits do not exceed 50% or more of the total profit amount on the account. Once each profitable day remains within the above guidelines, the trader will be eligible to request withdrawal at the next payout date (the 1st or 15th of each month).
For example, we offer payouts on the 1st and 15th of each month. Let’s say a trader begins trading the account on the 1st of the month, and by the 14th they have accumulated $20K in profits. If $10K was earned in one trading day alone, they would not be eligible for payout on the 15th. This is because 50% of profits were made in one day. They would need to keep trading the account until more profits are accumulated, so that $10K would no longer be equivalent to half of the payout. In this case, even one dollar in profit would make them eligible at the next pay period.
90% Profit Split
The average profitable trader at Funding Talent earns 7.5% per month on average. With this in mind, a profit split of 90% will now be automatically applied to Elite accounts until the member exceeds 10% in profits. Once a member exceeds 10% in profits, the split remains at the current 80% share for all profits made on the account.