NexGen’s payout policy is the most flexible out there. Payouts are available to traders who have LIVE accounts at our broker. Any profit you earn in a LIVE account is yours as long as your account balance is above the starting balance. Withdrawals into the buffer balance are allowed after 30 green days and 2 successful withdrawals. There are no minimum days to request a payout.
Payouts are not available in the SHOW phase. The SHOW phase is meant for traders to fund their LIVE brokerage accounts.
Profit Share
Any profit request for payout will be at an 90/10 split. This means that you will receive 90% of the requested payout amount. Minimum withdrawal amount is $300.
What happens to my account after a payout?
Requesting and receiving a payout will reduce your total account balance. You will not be able to take a payout that would put your account balance below your starting account balance (see table in Funded rules for reference) until you successfully have 30 green trading days in LIVE.
As an example, if you have a $50k account (starting balance is $3,000) and your total account balance is currently $7,000. You could take a payout anywhere from $250 to $4,000 (minimum request amount is $250). Taking $4,000 would leave your account back at the starting balance. If you requested $2,000, you would still have a buffer of $2,000 plus $3,000 of profit.
Daily payout processing
Payouts can be requested after your Live account has profit above the starting balance. Nexgen will review your submission and confirm a few details before initiating your ACH/wire/international wire payment. This process could take 1-3 days administration, to confirm all details and will be in a timely manner.
No minimum days for payouts
There are NO minimum days to trade to request payout in your LIVE account after reaching profit target in at least 2 days. Achieving profit in LIVE means you are entitled to it. There will be a delay in the period between request and when payment is sent but will be processed as quickly as humanly possible.
Tax Questions
Payouts are made as indepentant contractors from NexGen Futures Trader LLC. You will be responsible for any and all taxes associated with payouts. Only the amount you receive from a payout needs to be reported. Funds that have not been withdrawn in the specific calendar year do not need to be reported.
US Citizens will need to complete a W9 for annual payments or total withdrawals greater than $600, including affiliate payouts.
If you are not a US Citizen, you must complete a W-8 BEN with proof of Identification to match your account opening details.
US citizens with payouts greater than $600 will receive a 1099-NEC reporting the amount of funds the trader received in a calendar year. Traders outside of the US will not receive a 1099 from Omega/NexGen.
