FAQ

Once you request a payout, we will promptly review your trading history and account status. Under normal circumstances, payout processing takes 24-48 hours. However, this timeframe may vary depending on the current volume of transactions, our average payout period is 3 hours. Please note that if you request a payout on a Friday or public holiday, the processing will commence on the next business day.

Upon the successful completion of the challenge, participants are obliged to undertake the Know Your Customer (KYC) verification process accessible through the dashboard. Concurrently, our compliance team will conduct a thorough review of your trading activities to ensure full compliance with our established standards and verify the absence of any infractions of soft rules. Following the confirmation of qualified trading, we will proceed to activate your live trading account.

For first-time participants, the assessment purchase fee will be credited to your wallet, enabling you to request a payout at your discretion. It is imperative to understand that this refund is exclusively available for the initial transaction.

For our esteemed returning clients, the purchase fee will be allocated to your live account balance, which is available for withdrawal along with accrued profits at your convenience.

Please be advised that once a profit withdrawal or refund has been executed, the maximum drawdown will be permanently set at the starting balance.

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At SiegFund, participants are entitled to operate multiple challenge accounts to reach their trading targets. Upon successful attainment of these targets, a live account is allocated.

It is crucial, however, to implement unique trading strategies for each challenge account. The use of identical strategies across various accounts may be interpreted as a soft breach of our compliance policies.

In such cases, the SiegFund Compliance Team will conduct a thorough review and retain the discretion to determine the number of live accounts to be issued. This could result in a restriction to a single live account per participant, especially if repetitive strategies are a decisive factor in achieving the target.

When trading a Live Account for our firm, you will be classified as an independent contractor. As a result, it will be your responsibility to settle any tax obligations arising from your profits. 

Your first withdrawal can be requested at any time. After that, you can request a withdrawal of the profits in your account every 14 days. When a withdrawal is approved, we will also deduct our share of the profits, and your max trailing drawdown will be locked in at your starting balance. The trailing drawdown does not reset when you request a withdrawal.

Example: You have taken an account from $100,000 to $120,000. You then request a withdrawal of $16,000. In this scenario, you will receive $12,800 and we would retain $3,200. This would also bring the account balance down to $104,000, and your Maximum Trailing Drawdown is locked in at $100,000. So, you would have a maximum potential loss of $4,000 on the account before it would violate the Maximum Trailing Drawdown rule.

If you fully withdraw the profits in your Live Account, the Maximum Trailing Drawdown will still be locked in at the starting balance and will therefore result in the forfeiting of your Live Account, as your balance will trigger the Maximum Trailing Drawdown breach rule.  

Traders can request a withdrawal of the gains from their Live Account at any time through their trader dashboard. However, withdrawals can only be made once every fourteen (14) days. So, if you have made gains in your Live Account, you can request a withdrawal.

To withdraw the gains from your Live Account, click the Withdrawal button in your trader dashboard and enter the amount you wish to withdraw. Once your withdrawal request is approved, we will pay you the owed amount through your selected method.

If you have made profits in your Live Account at the time of a hard breach, you will not receive your share of those profits.

For example, let's say you have a $100,000 account and you successfully increase it to $110,000. If a hard breach happens and your account is closed, you are not eligible to be paid your profit share.

The rules for the Live Account are identical to those for your Assessment account. However, the Live Account does not have an equity growth target.

We have the discretion to restrict the number of open positions you can enter or maintain in the Live Account at any time. We may also adjust, based on market conditions, the drawdown levels at which trading in the Live Account will be stopped. We or the Broker have the right to decline any order.

To manage risk and reduce transaction costs, we could offset or reduce market risk by acting as the direct counterparty in certain trades initiated in your Account. These trades are executed at prices provided by the Broker. This framework ensures that you receive real market execution for your trades, while also allowing us to dynamically manage risk by routing existing positions or future orders to third parties for execution, as we see fit. We believe that executing trades in simulated accounts would not provide the same level of real market execution or cost-effectiveness.

Regardless of whether we act as the counterparty to your trades, the calculation of gains or losses on your Live Account remains the same. However, there is a potential conflict of interest when we act as the counterparty, as your trades do not result in a net gain or loss for us, unlike if we were not the direct counterparty.  

No. We maintain a separate relationship with the Broker. The Broker provides all market pricing and trade executions, which we do not alter or modify. Moreover, we do not increase transaction costs set by the Broker by adjusting bid-offer spreads, markups/markdowns, commission charges, or swaps.

Once you pass the Assessment, we will give you a live account supported by Sieg Capital. Please be aware that the capital in your Live Account is notional and may not match the amount of capital deposited with the Broker.

The Live Account does not change the trading level or how the account may trade. All the same conditions and rules applicable to a soft breach, hard breach, Daily Loss Limit, Max Trailing Drawdown, stop loss, and position limits still apply.

After successfully passing your Assessment, you will receive an email containing instructions on how to access and complete your Trader Agreement. Once the agreement is completed and all required supporting documentation is provided, your Live Account will be created, funded, and issued to you within 24-48 business hours.